Switzerland introduced a central register of beneficial owners on 1 October 2026, replacing the requirement for affected businesses to keep ownership disclosures internally. The Federal Act on the Transparency of Legal Entities and the Identification of Beneficial Owners (LETA) will take effect alongside its ordinance and revisions to the Anti-Money Laundering Act.
Swiss stock corporations, limited liability companies and cooperatives are covered. Certain foreign companies with Swiss branches, management or real estate are in scope. Listed companies and other qualifying entities are exempt.
Under the rules, companies must identify the individuals who ultimately control them, verify their details with reasonable diligence, document the findings and submit them to the register.
A person qualifies through at least 25% of capital or voting rights, or through other means of control. Where no such person can be identified, the senior executive is reported under a fallback rule.
Initial filing deadlines vary. Some companies have three to six months from the law’s commencement, while those whose beneficial owners are already recorded in the commercial register may have up to two years. Foreign entities generally have six months. A change to a commercial register entry can trigger a one-month filing deadline. Subsequent reports are generally due within one month.
The register will not be public. Access is restricted to designated authorities and, for anti-money laundering due diligence, eligible financial intermediaries and advisers. Intentional reporting breaches can attract fines of up to CHF 500,000.
For KYB teams, the reform makes documented ownership checks more consequential. Because the register isn’t public, businesses onboarding Swiss companies should keep verifying ownership independently, using commercial register data and company documents. The EasyGov reporting process is being tested, with remaining operational details still to be finalised.
Earlier Ownership Register Reforms in the UK and Singapore
The UK began requiring companies to maintain a People with Significant Control register in 2016, followed by filings with Companies House. Singapore introduced its Register of Registrable Controllers in 2017 and later required central filing with ACRA. Switzerland’s reform follows a similar global push to identify individuals behind corporate structures.
