LETA Switzerland Register: Beneficial Ownership Guide

The LETA Switzerland register changes how companies identify and disclose their ultimate beneficial owners. The Swiss Parliament adopted the Legal Entities Transparency Act (LETA) on 26 September 2025. It enters into force in the second half of 2026. LETA replaces private internal registers with a centralised, state-controlled system — a significant shift for multinationals operating in or through Switzerland.

What Is the LETA Switzerland Register?

LETA establishes a central federal Transparency Register. The Federal Office of Justice (FOJ) administers it electronically. It replaces the rules under the Swiss Code of Obligations, which required companies to keep private, internal lists of beneficial owners. The implementing ordinance (LETO) enters into force at the same time as LETA.

Switzerland aligns its corporate transparency framework with international standards set by the Financial Action Task Force (FATF) and with practices already established across the EU.

Who Is in Scope?

LETA covers a broad range of entities, including:

• Swiss legal entities: corporations (AG/SA), limited liability companies (GmbH/Sàrl), partnerships limited by shares, cooperatives, investment companies (SICAV/SICAF), and limited partnerships for collective investments
• Foreign legal entities with a Swiss nexus — those that maintain a branch in the Swiss Commercial Register, run their effective management from Switzerland, or own Swiss real estate

This extraterritorial scope matters. A foreign holding company managed from Switzerland or owning Swiss real estate falls under LETA’s reporting obligations. Around 600,000 entities will come within the new regime.

The following are exempt: listed companies traded on a stock exchange, subsidiaries more than 75% owned by such listed companies, state-owned entities, and occupational pension institutions.

How Does the LETA Switzerland Register Define a Beneficial Owner?

Under LETA, a beneficial owner (UBO) is any natural person who ultimately controls an entity. This includes anyone holding, directly or indirectly, at least 25% of its capital or voting rights. It also covers control through agreements, veto rights, or the power to appoint or remove key management.

Companies must register each UBO’s full name, date of birth, nationality, address, and the nature and extent of their control.

Key Obligations for Companies

Once LETA enters into force, companies must meet the following obligations:

Initial registration: Companies must report their UBOs to the Transparency Register within one month of registering in the Swiss Commercial Register. Foreign entities must do so within one month of falling within LETA’s scope.

Ongoing updates: Companies must report any changes to the register within one month of those changes occurring.

Shareholder cooperation: Shareholders, quota holders, and beneficial owners must provide the necessary information to the company within one month of acquiring control or upon request. Non-cooperation also carries sanctions.

Transitional periods: Existing companies benefit from transitional deadlines. These depend on audit requirements and whether all beneficial owners already appear in the Commercial Register. The period ranges from three to six months for companies with stricter audit requirements, and up to two years where all beneficial owners are already visible in the Commercial Register.

Who Can Access the LETA Switzerland Register?

Switzerland’s Transparency Register is not publicly accessible. Only designated Swiss authorities can access it. These include criminal prosecution authorities, tax authorities, the State Secretariat for Economic Affairs (SECO), the Money Laundering Reporting Office Switzerland (MROS), and intelligence services. Swiss financial intermediaries and advisers subject to the Anti-Money Laundering Act (AMLA) also have access, for KYC and due-diligence purposes.

Financial intermediaries that spot discrepancies between their own KYC records and the Transparency Register must report them within 30 days.

Consequences of Non-Compliance

Intentional violations of LETA carry criminal fines of up to CHF 500,000. This covers failure to report to the register and the provision of false information. Negligence alone does not trigger penalties — an earlier draft proposed otherwise but faced significant criticism.

Repeated violations can also lead to the suspension of membership and financial rights, or the rejection of land register entries.

What This Means for Klea Clients

LETA introduces a new compliance layer for multinationals managing entities in or through Switzerland. Companies should take the following steps:

• Map full ownership chains down to natural persons holding at least 25% of capital or voting rights, or otherwise exercising control
• Collect and verify identity documentation for all UBOs
• Build a process for reporting to the Transparency Register and keeping it current
• Check whether any foreign group entities fall within LETA’s scope due to Swiss management, branches, or real estate
• Engage shareholders and UBOs early to gather the required information within the set timeframes

LETA enters into force in the second half of 2026. Mapping ownership structures — especially for groups with layered or cross-border arrangements — takes time. Companies should start preparing now.

What’s Next?

Managing Switzerland’s beneficial ownership register obligations requires detailed planning and full legal awareness. For more insights into corporate transparency developments across other jurisdictions, explore our related article France UBO Enforcement Tightened Since June 2025.

Klea transforms entity management by offering centralised governance, automated compliance, and secure collaboration tools. For this reason, businesses looking for an efficient, scalable solution can take the following actions:

• Request a Demo — See Klea in action for your organisation.
• Start a Trial — Experience firsthand how automation reduces workload and improves efficiency.
• Talk to Our Experts — Get tailored recommendations based on your entity management needs.

With LETA expected to affect around 600,000 entities in Switzerland, staying ahead of beneficial ownership obligations has never been more important. Klea helps organisations ensure their corporate governance remains efficient, transparent, and risk-free.

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