Legal

The new stock corporation law, effective from January 1, 2023, stipulates that monitoring liquidity and financial status are core responsibilities of the board of directors. In the event of impending insolvency, the board of directors must act immediately to ensure or restore solvency.

The revised Stock Corporation Act comes into effect on January 1, 2023, and allows dividends from current profits with an interim financial statement during the fiscal year. Such a distribution requires an audited interim financial statement and a general meeting resolution.

Since 2020, the new Stock Corporation Act has been approved, comes into effect in 2023, and regulates, among other things, capital reserves. Repayments from the capital reserve are allowed if certain conditions are met.

The Swiss stock corporation law has been revised, with new provisions taking effect from January 1, 2023, such as the free choice of the par value of shares greater than zero. Additionally, joint-stock companies may maintain their share capital in a foreign currency significant to their business operations.

Swiss inheritance law will be modernized starting January 1, 2023, giving testators now more flexibility to distribute their assets as they wish. Key changes include the reduction of compulsory portions for children and the elimination of those for parents, as well as enhanced favorability options for spouses or domestic partners.

Economic changes often require an adjustment of the corporate structure, which can be achieved through mergers, divisions, transformations, or asset transfers. The Merger Act regulates these restructurings in Switzerland.

The discussion about the introduction of a Swiss trust law highlights the benefits for asset management, but faces challenges such as the risk of abuse and difficulties in adapting to existing legal standards. Trusts, as special assets, protect against creditors, but their introduction in Switzerland requires thorough considerations of legal adjustments and risks of abuse.

Michael Arrington sold his apartment as an NFT via blockchain, marking the first time a real estate transaction occurred in this form. The auction reveals the potential of blockchain technology for the real estate industry.

Since 2019, specific banking law rules have applied in Switzerland for FinTech companies, which must comply with strict regulations despite lesser regulation. For example, FinTechs must practice appropriate risk management and ensure financial compliance.