The Swiss Confederation is taking a historic step toward absolute corporate transparency. On October 1, 2026, the new Federal Act on the Transparency of Legal Entities (TJPG) will officially enter into force. Swiss and certain foreign entities will be legally required to report their Ultimate Beneficial Owners (UBOs) to a newly established federal transparency register.
Driven by Switzerland’s commitment to comply with the Financial Action Task Force (FATF) standards ahead of an upcoming country evaluation, this reform signals that the era of confidential corporate structuring in Europe has formally drawn to a close.
Who Falls Within the Scope?
The mandate captures virtually all Swiss stock corporations (AG), limited liability companies (GmbH), and significantly, foreign corporate structures if they:
Maintain registered Swiss branches;
Own or acquire real estate in Switzerland;
Have their de facto administration located within Swiss territory.
Exemptions: Listed companies (and their >75% subsidiaries), traditional foundations, and associations.
Critical Deadlines and the “Acceleration Trap”
The timeline for initial UBO filings depends on the entity type:
By February 1, 2027: Entities subject to regular audits.
By March 1, 2027: Stock corporations not subject to regular audits.
By April 1, 2027: Other covered entities, including foreign operations.
⚠️ The Acceleration Trap: Any standard corporate filing made with the Commercial Register (such as a change of directors, registered address, or signatories) after October 1, 2026, will instantly trigger an accelerated reporting requirement. The entity will have just one month from that filing date to report its UBOs.
Defining the “Beneficial Owner”
Under the TJPG, a beneficial owner is any natural person who directly or indirectly holds at least 25% of the capital or voting rights, or otherwise exercises ultimate control over the entity. If no such individual can be identified, the company must register its most senior management member (typically the CEO).
💡 Finance Business Service Insights: For decades, Switzerland was favored by family offices and HNWIs for its ironclad confidentiality. This legislative shift proves once again that modern asset structuring is no longer about finding “cheap or hidden” jurisdictions, but about managing regulatory adaptation. Clients with multi-layered Swiss structures must begin auditing their control chains immediately to secure compliance before the strict winter deadlines hit.