Beste Projektfinanzierung Anwälte in Zürich

1. About Projektfinanzierung Law in Zürich, Schweiz

Projektfinanzierung in Zürich basiert darauf, dass Finanzierung primär durch die Cashflows des konkreten Projekts getragen wird, nicht durch die Vermögenswerte des Unternehmens allgemein. In der Praxis bedeutet das oft die Gründung einer Spezialzweckgesellschaft (SPV), die als Schuldner auftritt und das Projektvermögen als Sicherheiten verwendet. Schweizer Banken, Investoren und öffentliche Förderer arbeiten in Zürich häufig mit SPVs, um Risiken zu isolieren und die Kapitalanlage zu strukturieren.

Juristisch spielt das Schweizer Zivilrecht eine zentrale Rolle, insbesondere das Zivilgesetzbuch (ZGB) und das Obligationsrecht (OR/CO). Dort sind Grundpfandrechte, Sicherheiten, Vertragsformen und der Umgang mit Sicherungsübereignungen gesetzlich geregelt. Ergänzend regeln SchKG und kantonale Vorgaben die Durchsetzung von Forderungen sowie Insolvenzverfahren, falls ein Projekt scheitert.

Zwischen Schweiz und Zürich besteht eine enge Vernetzung von Banken, Anwaltskanzleien und Regulierung. Lokale Marktpraktiken umfassen detaillierte Due-Diligence-Prozesse, interkreditore Vereinbarungen und strenge AML-/Compliance-Anforderungen. Für Projekte in Zürich gilt: Die Rechtsfragen reichen von Grundbuch- und Grundpfandrechten bis zu grenzüberschreitenden Verträgen und Steuergestaltungen.

According to the World Bank, project finance structures focus on the economics of the project and risk allocation among lenders and sponsors. See: worldbank.org

OECD guidance emphasizes clear security packages, robust governance structures, and transparent risk-sharing in infrastructure project finance. See: oecd.org

2. Why You May Need a Lawyer

• Structure your SPV and security package for a Zurich project. A lawyer can draft the SPV charter, shareholder agreements, and the necessary security packages such as Grundpfandrecht (mortgage) and Sicherungsübereignung, ensuring enforceability under Swiss law.
• Negotiate intercreditor agreements among multiple lenders. In Zurich, multi-lender facilities require precise coordination of repayment waterfalls, cure rights, and priority of claims to avoid later disputes.
• Manage cross-border elements and governing law clauses. If foreign lenders participate, you need counsel to harmonize Swiss contract law with chosen governing law and determine the appropriate arbitration seat.
• Structure refinancing or rescue financing for a distressed project. A Swiss attorney can facilitate a timely restructuring, preserve value, and manage potential insolvency risks under SchKG provisions.
• Ensure AML, tax and regulatory compliance for Swiss and international elements. Swiss AML laws require rigorous customer due diligence, reporting, and ongoing monitoring for project finance transactions.
• Draft and review project finance documents for real estate components. When the project involves property, you must address Grundpfandrecht, Grundbuch, and related registrations to secure the loan.

3. Local Laws Overview

Swiss Civil Code (ZGB) governs property and real rights, including mortgages and security interests relevant to project finance. The ZGB provides the framework for how collateral is created, perfected, and enforced in canton Zurich and nationwide.

Swiss Code of Obligations (CO/OR) regulates contracts, corporate structures, and guarantees. It sets out standard terms for loan agreements, pledge arrangements, and supervisory duties between lenders and borrowers. The CO remains foundational for commercial contracts in project financing in Zürich.

Swiss Debt Enforcement and Bankruptcy Act (SchKG) governs collection and bankruptcy procedures. It outlines the steps for enforcing security interests, debtor rights, and the orderly disposition of assets if a project sponsor defaults. Banks and sponsors in Zurich rely on SchKG procedures to manage risk and recover value.

In Zürich, these laws are complemented by regulatory frameworks administered by Swiss authorities and cantonal authorities. Practitioners frequently navigate cross-border considerations, Swiss tax rules, and local land registry processes (Grundbuch) when real property is involved. For precise provisions, consult official texts and local counsel.

4. Frequently Asked Questions

What is project financing and how does it differ in Zurich?

Project financing depends on the project’s cash flow rather than sponsor credit alone. In Zurich, structure choices, local security rights, and cantonal land registration impact risk allocation and financing terms.

How do I begin a project finance transaction in Zurich with Swiss lawyers?

Start with an initial consultation to outline project scope, select the SPV structure, and identify key security interests. Your lawyer will draft term sheets and coordinate with lenders on due diligence timelines.

What is Grundpfandrecht and why is it important in Zurich projects?

Grundpfandrecht is a real estate mortgage securing loan obligations. In Zürich, binding registration in the Grundbuch is essential to perfect the security and protect lenders’ interests.

Do I need a Swiss lawyer if lenders are international?

Yes. Switzerland harmonizes Swiss and foreign law through governing law clauses and dispute resolution provisions. A Swiss lawyer helps align contracts with Swiss mandatory rules and practice.

What documents are typically required for a Zurich project finance loan?

Common documents include term sheets, SPV formation documents, security packages, project budgets, feasibility studies, and due diligence reports from tax and compliance advisors.

How long does the closing of a Zurich project finance loan usually take?

From initial term sheet to closing, 8 to 20 weeks is typical, depending on complexity, due diligence scope, and regulatory approvals for real estate elements.

What are typical costs for hiring a project finance lawyer in Zurich?

Costs vary with project size and complexity, but expect legal fees for due diligence, drafting, and negotiations to form a significant portion of transaction costs, plus disbursements.

Is Swiss law different from English law for project financings?

Swiss law follows civil law traditions and has distinct contract, security, and enforcement rules. English law is often chosen for governing law and disputes, requiring careful risk allocation in Switzerland.

What is the difference between a loan agreement and an intercreditor agreement?

A loan agreement sets terms between borrower and lenders for the facility. An intercreditor agreement governs priority, rights, and remedies among multiple lenders.

Should I consider tax implications in Zurich project finance?

Yes. Tax considerations affect structuring, repatriation of profits, and VAT treatment. Early tax planning improves post‑tax returns and risk management.

Can I use arbitration for Swiss and cross-border disputes in Zurich project finance?

Arbitration is common for cross-border deals. Swiss arbitration law allows seat and governing law choices, with enforcement under international conventions like the New York Convention.

When should I involve a lawyer in the early stages of a Zurich project finance?

Involve counsel at the outset to shape SPV structures, select appropriate security packages, and design a practical term sheet. Early involvement reduces later renegotiation risks.

5. Additional Resources

• World Bank Group - Project finance guidelines, risk allocation frameworks, and financial structuring best practices. worldbank.org
• Organisation for Economic Co operation and Development (OECD) - Infrastructure governance, investment performance, and project finance standards. oecd.org
• International Finance Corporation (IFC) - Private sector project financing, risk management, and environmental and social due diligence. ifc.org

6. Next Steps

1. Define the project and financing objectives. Clarify scope, capex, opex, timeline, and desired debt structure to guide legal strategy. Aim for a first rough budget and a target closing date.
2. Prepare a shortlist of Zurich-based project finance lawyers. Include experience with SPVs, real estate, and cross-border transactions. Request sample term sheets and prior deal references.
3. Collect initial project documents for due diligence. Gather feasibility studies, budgets, permits, contracts, and key supplier and off-take agreements.
4. Schedule a consultation to discuss structure and risk allocation. Use this meeting to align on governing law, dispute resolution, and security package design.
5. Draft and review term sheets, LOIs, and intercreditor concepts. Your lawyer should coordinate with lenders and ensure Swiss compliance with applicable rules.
6. Proceed to final documentation and closing. Complete all registrations, security filings (Grundbuch), and regulatory approvals for a timely close.