You are discreet about what you have built. Not everyone who is curious needs to know.
More of your financial life is visible than you realise. A foundation puts you back in control of what can be seen — and by whom.
Swiss privacy is not what most people think it is.
Switzerland has a well-earned reputation for discretion. Banking secrecy. Private wealth. Quiet money.
But that reputation applies to your bank account — not to what you own.
Your property is registered in the cantonal land register. The basic data — including ownership — is accessible to anyone without needing to demonstrate a specific interest. Your company directorships and shareholdings in limited liability companies are listed in the commercial register. Public. Searchable. Available to anyone with a browser.
You have not done anything wrong. You have simply built something. And the record of what you own is more visible than you assumed.
Right now. Without your knowledge. Without your consent.
Before you think about future regulation — here is what is already accessible today.
| What | Where | Who Can See It |
|---|---|---|
| Property you own | Cantonal land register (Grundbuch) | Anyone — basic data accessible without justified interest |
| Company directorships | Commercial register (Handelsregister) | Fully public — searchable online |
| GmbH shareholdings | Commercial register | Publicly visible |
| AG shareholdings | Internal company register | Not currently public — changing with LETA |
| Business addresses | Commercial register | Fully public |
You did not choose to publish this. Swiss law published it for you.
Switzerland is about to require significantly more disclosure. The window to structure is closing.
On 26 September 2025, the Swiss Parliament passed the Federal Act on the Transparency of Legal Entities and the Identification of Beneficial Owners — known as LETA. Entry into force is expected mid-2026.
LETA creates a central federal Transparency Register. Every Swiss legal entity — approximately 600,000 companies — will be required to register the identity of their ultimate beneficial owner. Name, date of birth, nationality, address, and the nature of their control.
This register is not public. It is accessible to Swiss authorities, financial intermediaries, and compliance bodies. But it exists. Your name, linked to your holdings, in a central federal database.
LETA enters into force mid-2026. That is months away. A structure established before that date — with documented governance and a genuine history — is in a materially stronger position than one established after the regulatory environment has already shifted.
For Swiss residents who have built significant wealth through company structures, this is a fundamental change. The internal list in a drawer becomes a supervised federal system. Financial intermediaries must report discrepancies. The supervisory body conducts checks.
The question is not whether this is right or wrong. The question is whether your current structure was designed with this level of scrutiny in mind.
A Liechtenstein foundation sits outside LETA entirely.
LETA applies to Swiss legal entities. A Liechtenstein foundation is a Liechtenstein legal entity — governed by Liechtenstein's PGR, registered in Vaduz, administered by a Liechtenstein trustee.
It is not a Swiss legal entity. It is not captured by LETA.
Assets held in a properly structured Liechtenstein foundation do not appear in your personal Swiss asset inventory. They are not subject to Swiss commercial register disclosure. They are not subject to the new LETA transparency register.
The foundation's own beneficial ownership information is registered with the Liechtenstein beneficial ownership register — which is accessible to competent authorities for legitimate purposes, but is not a public register and is not accessible to commercial databases or general searches.
One important nuance: if the foundation directly owns Swiss real estate, that property ownership will still appear in the Swiss land register and may create a LETA nexus. Standard structuring practice — holding Swiss real estate through a subsidiary beneath the foundation — addresses this. This is one of the structural decisions made during the design phase.
You decide what is visible. You decide when to be transparent.
Discretion is not secrecy. It is not concealment. The foundation structure is fully compliant — beneficial ownership is disclosed to the appropriate Liechtenstein authorities under their AML (Anti-Money Laundering) framework. There is nothing hidden from the regulators who need to know.
What changes is who else can see it.
A curious competitor. A litigant fishing for assets. A family member calculating their position. An algorithm scraping public registers for wealth data.
None of them need to know what you own. With a foundation, they do not.
The peeping Tom has a curtain in front of him. You drew it. That is what control looks like.
Privacy through structure is not invisibility.
A foundation does not make you anonymous. Your identity as founder and beneficiary is disclosed to Liechtenstein authorities and your financial intermediaries under applicable AML rules.
It does not protect against tax authority inquiries, court orders, or legitimate law enforcement access. Switzerland and Liechtenstein have mutual assistance frameworks.
What it does is remove your wealth from the commercial public layer — the registers, the databases, the sources that anyone can access without legal process.
Legitimate privacy. Not opacity.
LETA comes into force in months. If your structure has not been reviewed, now is the time.
A 30-minute call costs nothing. Restructuring after the deadline costs more.
Keep reading. Keep researching.
No obligation. No preparation needed.
Swiss land register — Grundbuch
The Swiss land register is governed by Articles 942 et seq. of the Swiss Civil Code. Basic ownership data — including the identity of property owners — is accessible to anyone without the need to demonstrate a justified interest. A more detailed extract requires a legitimate interest (buyer, neighbour with easement rights, financing bank). Every property in Switzerland is registered with an assigned owner. This data is public and searchable.
Swiss commercial register — Handelsregister
The commercial register is fully public and freely searchable online. It records company directors, registered addresses, and — for GmbH structures — shareholder identity. AG shareholders are not currently in the public register but are recorded in internal share registers. This distinction is changing with LETA.
LETA — Federal Act on the Transparency of Legal Entities (in force mid-2026)
LETA was adopted by the Swiss Parliament on 26 September 2025. Entry into force is expected mid-2026. The law creates a central federal Transparency Register administered by the Federal Office of Justice. All Swiss legal entities — corporations, GmbHs, cooperatives, and certain foreign entities with a Swiss nexus — must register their ultimate beneficial owner within one month of establishment or change.
The register is non-public. It is accessible to Swiss authorities, financial intermediaries carrying out AML due diligence, and certain other authorised bodies. Fines for non-compliance of up to CHF 500,000 apply.
Swiss foundations (Stiftungen) and associations (Vereine) are exempt from LETA. Foreign entities — including Liechtenstein foundations — are within scope only if they have a Swiss nexus: a Swiss branch, effective management in Switzerland, or direct ownership of Swiss real estate.
Liechtenstein beneficial ownership framework
Liechtenstein implemented its own beneficial ownership register under the EU's AMLD4-derived framework. The register records controlling persons of Liechtenstein foundations — typically the founder, beneficiaries, and foundation council members. The register is accessible to competent Liechtenstein authorities and financial intermediaries for AML purposes. It is not a public register and is not accessible to commercial databases or general searches.
The Liechtenstein framework is designed to ensure regulatory transparency to the appropriate authorities while maintaining structural privacy from commercial and public access.
Important
This page provides general information only. The interaction between Swiss and Liechtenstein regulatory frameworks is complex and evolving. LETA implementing ordinances are still being finalised. Independent legal and compliance advice is essential before establishing any structure.