UBO Registration in Switzerland: The LETA Guide

UBO registration in Switzerland is no longer an internal matter. From 1 October 2026, in-scope companies must report their ultimate beneficial owners (UBOs) to a new central federal Transparency Register. The Federal Council confirmed this date on 12 June 2026, setting the clock in motion for all Swiss legal entities subject to the Federal Act on the Transparency of Legal Entities and the Identification of Beneficial Owners — known as LETA. In total, the law covers around 600,000 Swiss legal entities.

As a result, multinationals with Swiss entities now face a clear compliance deadline. This is not a minor update. The new UBO registration Switzerland rules replace the old internal-list system entirely, so companies need to act well before October.

Why is Switzerland introducing a Transparency Register?

Until now, Switzerland kept beneficial ownership records at the company level rather than in a central register. In practice, this made it difficult for authorities to access and verify ownership data quickly. Therefore, Switzerland decided to change its approach and bring its rules in line with the Financial Action Task Force (FATF) standards — especially ahead of Switzerland’s scheduled FATF review at the end of 2026.

The new Transparency Register sits with the Federal Office of Justice (FOJ) and is not open to the public. In practice, only designated Swiss authorities can access it. Banks, asset managers, and other regulated financial firms also get access for KYC checks. For more detail on the parallel AMLA changes, the Swiss State Secretariat for International Finance publishes up-to-date guidance.

Which entities must complete UBO registration in Switzerland?

Most Swiss commercial entities fall within LETA’s scope. These include:

• Corporations (AG / SA)
• Limited liability companies (GmbH / Sàrl)
• Partnerships limited by shares (SCA / KommAG)
• Cooperatives
• Investment companies (SICAV and SICAF)
• Foreign entities with a Swiss branch
• Foreign entities whose management sits in Switzerland
• Foreign entities that own Swiss real estate

In contrast, associations, foundations, sole traders, and general partnerships are exempt. Listed companies and entities more than 75% owned by a listed company or public body are also outside the scope, as are pension funds.

Cross-border note: Foreign shareholders above a Swiss in-scope entity still carry cooperation duties under LETA, even without a direct Swiss presence.

Who qualifies as a beneficial owner under LETA?

LETA follows the Swiss Anti-Money Laundering Act definition. In short, a beneficial owner is any natural person who ultimately controls an entity — directly or indirectly, alone or together with others — through:

• Shareholding: at least 25% of capital or voting rights; or
• Other means: contractual, structural, or factual control.

In cases where no such person exists — for instance, where shares are spread below the 25% threshold — the most senior managing body member steps in as the default registrant. The register must never stay blank.

Critical point: The LETA definition is wider than the old Code of Obligations rules. In other words, existing internal UBO reports need a full review before filing. Companies cannot simply carry them over.

What data must be submitted for UBO registration in Switzerland?

For each beneficial owner, companies must collect and submit:

• Full name (first and last)
• Date of birth
• Municipality and country of residence
• Nature and extent of control

In addition, the entity must provide its company name, registered office, and enterprise identification number (UID). Shareholders and beneficial owners must actively cooperate. Specifically, they must supply the required details within one month of gaining control or of any later change.

Companies submit everything electronically via the EasyGov portal. Ultimately, the highest management body holds responsibility — even when the task goes to someone else internally.

UBO registration deadlines in Switzerland

All deadlines run from 1 October 2026, regardless of when a company first learns of the obligation.

Note that any Commercial Register amendment after 1 October 2026 immediately triggers a one-month window, even for entities that would otherwise benefit from a longer transition.

Special rules for trustees

Swiss-resident trustees face no transition period at all. As a result, their LETA obligations begin on 1 October 2026 without any grace period.

In practice, trustees must identify, verify, document, and keep beneficial owner data for all trusts they manage. This covers the settlor, trustee, protector, beneficiaries, and anyone else who exercises control. Furthermore, all records must stay readily available in Switzerland at all times.

Trusts themselves do not appear in the Transparency Register. However, if a trust holds a stake in a Swiss reporting entity, that entity must include the trust-related UBO data in its own filing.

Sanctions: what non-compliance costs

LETA sets out a step-by-step list of enforcement measures. At the lower end, authorities issue corrective orders. More serious breaches lead to suspension of shareholder rights. In extreme cases, the entity faces dissolution.

Beyond those measures, the financial penalties are:

• Up to CHF 500,000 for deliberately breaking registration rules or giving false information
• Up to CHF 100,000 for ignoring a corrective order

Importantly, personal liability falls on the most senior member of the governing body. In addition, liability for disclosure breaches can reach foreign parties in the ownership chain. These are legal obligations, not administrative formalities.

Implications for financial intermediaries and advisors

Banks, asset managers, lawyers, and fiduciaries under AMLA now carry additional duties that run alongside LETA:

• Register access: Financial firms can query the Transparency Register directly to meet KYC requirements.
• Discrepancy reporting: If a firm spots a gap between its KYC records and the register, it must report this within 30 days. Therefore, keeping records accurate is more important than ever.
• Extended AML scope: The revised AMLA also pulls in advisors working on real estate deals, domicile services, or the set-up of non-trading entities. Those affected must join a recognised self-regulatory body (SRO) and put due diligence steps in place.

What should you do now?

Given that 1 October 2026 is now confirmed, companies should start preparing straight away.

Step 1 — Confirm scope. Work out which Swiss or Swiss-nexus entities fall within LETA. Do not assume exemptions apply, especially for foreign holding structures or property-owning vehicles.

Step 2 — Map your beneficial owners. Trace ownership chains down to the natural persons who hold 25% or more, or who exercise control. Include indirect stakes, acting-in-concert arrangements, and contractual control.

Step 3 — Review existing UBO records. Check current internal filings against the new LETA criteria. The UBO registration Switzerland rules have changed, so old reports may no longer be correct.

Step 4 — Collect and verify UBO data. Gather names, dates of birth, residence details, and evidence of control for each beneficial owner. Ask shareholders to cooperate in writing within the required timeframes.

Step 5 — Build a filing calendar. Identify the right deadline bracket for each entity. Remember, any Commercial Register change after 1 October 2026 triggers a one-month window straight away.

Step 6 — Set up ongoing monitoring. Assign clear ownership of this task internally. Any change to UBO details must reach the register within one month.

Step 7 — Trustees: act immediately. There is no transition period. Trustee obligations start on 1 October 2026.

What’s next?

For those looking to manage their UBO compliance obligations across multiple jurisdictions, Klea provides structured, process-driven support. Our platform centralises entity data, tracks filing deadlines, and supports compliance teams in managing triggering events as they arise.

For more insights into processes in other jurisdictions, explore our article, Commercial Register Act Slovakia: 2026 Company Changes.

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 first-hand how automation reduces workload and improves efficiency.
• Talk to Our Experts – Get tailored recommendations based on your entity management needs.

Company secretarial software solutions play a crucial role in modern businesses that require structured governance, consistent compliance, and accurate legal entity management. With Klea, organisations can ensure corporate governance remains efficient, transparent, and risk-free.

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