Best Funds & Asset Management Lawyers in Chur

About Funds & Asset Management Law in Chur, Switzerland

Chur is the capital of the canton of Graubünden and part of the Swiss legal and regulatory framework that governs funds and asset management. Swiss rules are set mainly at the federal level and administered by the Swiss Financial Market Supervisory Authority - FINMA. Key Swiss laws affecting funds and asset management include the Collective Investment Schemes Act - CISA, the Financial Services Act - FinSA, the Financial Institutions Act - FinIA, and the Anti-Money Laundering Act - AMLA. Canton-level authorities and local courts in Graubünden apply federal law and handle registration, tax, and local administrative matters.

Sponsors, fund managers, asset managers, depositaries, custodians, and investors operating from or engaging with Chur must follow Swiss licensing, conduct, reporting, custody and anti-money-laundering rules. While larger fund and asset-management infrastructure tends to concentrate in Swiss financial centers such as Zurich and Geneva, Chur firms and advisers commonly rely on the national legal framework and collaborate with specialized service providers across Switzerland.

Why You May Need a Lawyer

Funds and asset management is a highly regulated field. You may need a lawyer in Chur for many reasons, including:

- Setting up a fund vehicle or investment company and deciding the appropriate legal form and domicile.

- Determining whether your business requires FINMA authorization or registration under FinIA or CISA, or whether exemptions apply.

- Drafting and reviewing constitutive documents - prospectus, articles of association, investment management agreements, custody agreements, distribution agreements and subscription documents.

- Preparing compliance documentation - AML policies, know-your-customer procedures, conflict-of-interest policies, risk-management and valuation rules, internal control manuals and outsourcing contracts.

- Advising on client classification, suitability and disclosure obligations under FinSA and related conduct rules.

- Handling tax structuring and cross-border tax consequences for funds, investors and service providers - including cantonal tax aspects in Graubünden.

- Managing regulatory investigations, enforcement matters, or disputes with investors, service providers or counterparties in local courts or arbitration.

- Advising on cross-border distribution, private placements to qualified investors and the limits on marketing into other jurisdictions.

Local Laws Overview

Below are the primary legal and regulatory points relevant in Chur and across Switzerland:

- CISA - Collective Investment Schemes Act: Governs establishment and operation of collective investment schemes. It distinguishes public funds, contractual funds and limited qualified-investor funds, and sets requirements for fund documentation, custodianship, risk-spreading, and investor protection.

- FinSA - Financial Services Act: Sets conduct-of-business duties for financial service providers when dealing with clients - disclosure, suitability, information and documentation rules. It also creates client segments - retail, professional and qualified investors - with differing protection levels.

- FinIA - Financial Institutions Act: Establishes licensing and organizational requirements for financial institutions such as asset managers and fund managers. Under FinIA, certain asset managers and fund management companies must be authorized and meet capital, governance and compliance obligations.

- AMLA - Anti-Money Laundering Act: Requires customer due diligence, suspicious activity reporting, policies and internal controls to prevent money-laundering and terrorist financing. Asset managers and trustees often fall under AML obligations unless a specific and narrow exemption applies.

- Swiss Code of Obligations and contract law: Governs contractual relationships between parties - management agreements, custody terms, distribution and service contracts.

- Tax law: Federal and cantonal tax rules affect funds and investors. Canton Graubünden has its own tax administration and practices that matter for local fund domiciliation or taxpayer residence. Tax treatment depends on fund structure, investor type and cross-border elements.

- Corporate and commercial register: Companies and certain entities must register in the cantonal commercial register in Graubünden. Registration details, filings and language of documentation should follow local requirements.

Frequently Asked Questions

How do I set up a fund in Chur or elsewhere in Switzerland?

Setting up a Swiss fund requires choosing the appropriate legal form - for example, a contractual fund, an investment company with variable capital (SICAV) or another corporate vehicle - and complying with CISA and FINMA requirements when the fund is public or not limited to qualified investors. You will need constitutional documents, an investment policy, a prospectus or offering memorandum, agreements with a fund manager, custodian and administrator, and compliance programs including AML procedures. Local counsel can advise on canton-level registration formalities in Graubünden and coordinate filings with FINMA if required.

Do I need FINMA approval to operate as a fund manager or asset manager?

It depends on the type of activities and clients. Management of public collective investment schemes generally requires FINMA authorization. Asset managers and other financial institutions may need authorization under FinIA if they provide portfolio management or other regulated services to third parties. There are limited exemptions for small or internal managers and for providers dealing exclusively with qualified investors, but these are fact-specific. A lawyer can assess whether your activities trigger licensing or registration obligations.

What are the AML obligations for asset managers in Chur?

Asset managers subject to AMLA must perform customer due diligence at onboarding and periodically, monitor transactions for suspicious activity, keep records, implement internal controls and appoint an AML compliance officer. Suspicious transactions must be reported to the Money Laundering Reporting Office Switzerland. The exact scope of obligations depends on whether the manager is within the AMLA scope or benefits from an exemption, which is determined case-by-case.

Can I market a Swiss fund to investors outside Switzerland?

Cross-border distribution is complex. Switzerland is not an EU member, so EU passporting rules do not automatically apply. Distribution abroad may require local approvals, compliance with the target jurisdiction's rules and possibly reliance on private-placement exemptions. Marketing to professional or qualified investors abroad is often easier than to retail investors, but local rules still apply. You should obtain legal advice for each target jurisdiction.

What is the difference between public funds and qualified-investor funds?

Public funds are designed for the general public and must comply fully with CISA, prospectus requirements and tighter investor protection rules. Qualified-investor funds are limited to institutional or sophisticated investors who meet specific criteria; they face lighter ongoing disclosure and distribution requirements. The choice affects regulatory burden, marketing capabilities and investor base.

How are fees and conflicts of interest regulated?

Under FinSA and CISA, fund managers and advisers must disclose fees, costs and material conflicts of interest, and take steps to avoid or manage conflicts. Conduct rules require transparent disclosure of remuneration arrangements and potential conflicts in offering documents and during the advice process. Robust internal policies and documentation are expected.

What taxes apply to funds and investors in Graubünden?

Tax treatment depends on fund structure and investor residency. Swiss tax law, including federal and cantonal provisions, can create favorable regimes for certain Swiss funds, but there are differences at canton level. Investors should consider income tax, capital gains, withholding taxes and inheritance/tax residency effects. Tax advice from a Swiss tax specialist and coordination with local Graubünden tax authorities is recommended.

What documentation will a lawyer help me prepare?

A lawyer can prepare or review prospectuses, offering memoranda, articles of association, investment management agreements, depositary/custody agreements, distribution agreements, AML manuals, compliance policies, risk-management frameworks, outsourcing contracts and the client agreements required under FinSA. Lawyers also draft regulatory filings and civil law documents needed for company formation and registration with the canton.

How long does it take and how much does it cost to set up a fund or obtain authorization?

Timelines and costs vary widely by fund type, complexity and whether FINMA authorization is needed. Setting up a simple qualified-investor fund can be done more quickly and at lower cost than establishing a public fund that requires a full FINMA approval process. Expect engagement with multiple advisers - lawyers, auditors, fund administrators and tax advisers - and a timeline that can range from a few weeks for simple structures to several months for authorized public funds. Ask potential advisers for a clear fee estimate and project timeline.

What should I do if I have a dispute with investors or service providers?

If a dispute arises, early legal advice is crucial. Remedies can include negotiation, mediation, arbitration or court proceedings. The choice depends on contractual dispute resolution clauses, the governing law, the location of parties and the nature of the claim. Chur and Graubünden courts handle local litigation, but many fund agreements specify arbitration or courts in other Swiss cantons or jurisdictions. Preserve documents, follow dispute-resolution clauses and consult a lawyer promptly to avoid procedural disadvantages.

Additional Resources

When seeking further information or assistance in Chur, consider these Swiss authorities and organizations as starting points:

- Swiss Financial Market Supervisory Authority - FINMA - for licensing, regulatory guidance and enforcement matters.

- Swiss Federal Department of Finance - policy and legislation related to financial markets.

- Money Laundering Reporting Office Switzerland - for AML reporting obligations and guidance.

- Swiss Funds & Asset Management Association - industry standards, guidance and best practices.

- Swiss Bankers Association - for banking and custody matters and market conventions.

- Federal Tax Administration and Cantonal Tax Office Graubünden - for federal and cantonal tax questions and registration matters.

- Cantonal Commercial Register - for company registration and public records in Graubünden.

- Local chambers of commerce and professional associations - for locating qualified local advisers, trustees and administrators in Chur and the Graubünden region.

Next Steps

If you need legal assistance with funds or asset management matters in Chur, follow these practical steps:

- Gather your core documents and facts - organizational details, proposed investor type, investment strategy, proposed fees, expected distribution jurisdictions and any draft agreements.

- Contact a Swiss lawyer or law firm experienced in funds and asset management. When choosing counsel, ask about their experience with FINMA filings, AML and tax coordination, and whether they have worked on similar fund structures.

- Request a scope-of-work proposal and a clear fee estimate. Confirm the language of engagement documents - many Swiss transactions use German or English - and agree on timelines and deliverables.

- Coordinate a team - legal counsel, tax adviser, auditor and fund administrator or custodian - early in the process to avoid duplication and to ensure regulatory, tax and operational alignment.

- Prepare for compliance - establish AML procedures, client classification processes under FinSA and the required governance and internal controls. These are often decisive for smooth licensing and ongoing operations.

- If you plan cross-border distribution or complex tax structuring, consider engaging specialists in the target jurisdictions and in Swiss cross-border regulation.

Legal issues in funds and asset management are fact-sensitive and often time-critical. Early consultation with a qualified Swiss lawyer based in or serving Chur will help you design a compliant structure and reduce the risk of costly regulatory or operational problems.