A Swiss fiduciary firm carries out the accounting, tax and administrative work defined in the mandate. Nothing more, nothing less: the scope depends on the engagement letter that has been signed.
The core services include keeping the accounts in accordance with art. 957 ff. of the Code of Obligations (CO), preparing VAT returns in accordance with the VAT Act (LTVA), managing payroll and social insurance, and preparing the tax returns of the company and its owner. Advisory work is added as required: structuring, succession, tax planning.
Certain services are not part of the mandate by default. The fiduciary firm does not replace the auditor. It does not represent the client before the tax authorities without a written power of attorney. It is not liable for management decisions taken by the directors.
A Lausanne-based Sàrl (limited liability company) with three people, which files a quarterly VAT return and three monthly payslips, does not need the same scope as a public limited company (SA) with forty employees. Defining this scope before comparing offers avoids comparing different services.
Practical consequence: draw up the list of tasks to be outsourced (bookkeeping, VAT, payroll, year-end closing, tax returns) before requesting any quote. The guide on what a fiduciary does in Switzerland details each item.
Fiduciary, chartered accountant, auditor: what are the differences?
The title of fiduciary is not protected in Switzerland. Anyone may use it without a diploma or licence, which makes verifying status decisive.
The status of auditor, by contrast, is regulated. Under the Federal Act on the Licensing and Oversight of Auditors (LSR), the audit of companies subject to an ordinary audit requires a licence from the Federal Audit Oversight Authority (ASR). The register of licensed auditors is public on the ASR website. For the limited audit of SMEs, an auditor's licence is also required within the meaning of art. 727c CO.
The diplomas of chartered accountant or fiduciary expert are federal or higher professional qualifications. They attest to training and practice, without constituting a monopoly over day-to-day bookkeeping.
Professional associations, such as TREUHAND SUISSE and its Vaud section, impose rules of professional conduct and continuing education on their members. Fiduciary firms that manage third-party funds or act as financial intermediaries are also subject to the Anti-Money Laundering Act (LBA) and must be affiliated with a self-regulatory organisation (SRO) or be supervised by FINMA.
Practical consequence: ask in writing what status the firm claims, which licences it holds and which association has admitted it. Keeping the fiduciary firm that maintains the accounts separate from the auditor who reviews them also preserves the independence required by art. 728 CO.
Which services for which size of business?
The need depends on the legal form, the number of accounting documents and VAT liability. Three typical profiles can be distinguished.
The self-employed person operating as a sole proprietorship keeps simplified accounts if turnover remains below CHF 500'000 (art. 957 para. 2 CO). They mainly need a reliable tax return, a VAT return if they exceed the VAT liability threshold of CHF 100'000 in turnover (art. 10 LTVA) and monitoring of AVS (old-age and survivors' insurance) contributions.
The Sàrl requires full accounts, a balance sheet, an income statement and notes to the accounts. In Lausanne, a Sàrl with share capital of CHF 20'000 is entered in the commercial register within ten working days if the articles of association are ready. Setting up a Sàrl is therefore the first usual mandate: drafting the articles, paying in the capital, registration, opening the accounts.
The SA adds governance obligations: share register, management report, limited or ordinary audit according to the thresholds in art. 727 CO. An interim balance sheet becomes necessary where there are signs of over-indebtedness (art. 725 CO) or in connection with a transaction affecting the capital.
The VAT return also involves a choice of method: the effective method or the net tax rate method, available to small businesses under conditions set by the Federal Tax Administration.
Practical consequence: a self-employed person should not pay for SA-level capacity. Choose a firm whose standard mandate matches the actual legal form. The overview of fiduciary services in Switzerland complements this point.
Associated obligations and services / Legal form
Sole proprietorship
Sàrl
SA
Accounting
Simplified accounts if turnover is below CHF 500'000 (art. 957 para. 2 CO)
Full accounts: balance sheet, income statement and notes
Management report; interim balance sheet in case of signs of over-indebtedness (art. 725 CO) or a transaction affecting the capital
VAT
VAT return above CHF 100'000 in turnover (art. 10 LTVA)
Not specified in the article
Not specified in the article
Taxation and social insurance
Reliable tax return and monitoring of AVS contributions
Not specified in the article
Not specified in the article
Governance and incorporation
No specific obligation mentioned
Capital of CHF 20'000; entry in the commercial register within ten working days if the articles of association are ready; first usual mandate: setting up the Sàrl (articles, payment of capital, registration, opening of the accounts)
Share register; limited or ordinary audit according to the thresholds in art. 727 CO
Accounting
Sole proprietorshipSimplified accounts if turnover is below CHF 500'000 (art. 957 para. 2 CO)
SàrlFull accounts: balance sheet, income statement and notes
SAManagement report; interim balance sheet in case of signs of over-indebtedness (art. 725 CO) or a transaction affecting the capital
VAT
Sole proprietorshipVAT return above CHF 100'000 in turnover (art. 10 LTVA)
SàrlNot specified in the article
SANot specified in the article
Taxation and social insurance
Sole proprietorshipReliable tax return and monitoring of AVS contributions
SàrlNot specified in the article
SANot specified in the article
Governance and incorporation
Sole proprietorshipNo specific obligation mentioned
SàrlCapital of CHF 20'000; entry in the commercial register within ten working days if the articles of association are ready; first usual mandate: setting up the Sàrl (articles, payment of capital, registration, opening of the accounts)
SAShare register; limited or ordinary audit according to the thresholds in art. 727 CO
The scope of the mandate follows the legal form: from the self-employed person's tax return to the governance of the SA
Key takeaway
The more demanding the legal form, the wider the mandate becomes: a self-employed person should not pay for SA-level capacity.
How much does a fiduciary firm cost in Lausanne or Geneva?
There is no official fee scale. The ranges below are indicative, drawn from observed practice in French-speaking Switzerland, and must be confirmed by a written quote.
The hourly rate is typically between CHF 120 and CHF 220 for an accounting employee, and between CHF 200 and CHF 350 for a certified expert or a partner. Geneva is generally at the upper end of the range.
Flat fees vary according to volume. For a Sàrl with three people and a quarterly VAT return, an annual flat fee covering accounting, VAT, payroll and year-end closing is often between CHF 4'000 and CHF 9'000, as an indicative value. A turnkey Sàrl incorporation is frequently charged between CHF 1'500 and CHF 3'500, excluding commercial register and notary fees.
Five factors cause the price to vary: the number of entries, the quality of the documents supplied, the frequency of returns, the level of advice requested and tax complexity (shareholdings, real estate, cross-border activity).
The quote must specify the billing method: fixed flat fee, hours cap or time-based billing. The guide on the cost of a fiduciary firm in Switzerland details these models.
Practical consequence: a low flat fee only makes sense if the scope is set out in writing. A price lower by CHF 1'500 per year disappears with the first out-of-scope invoice.
Geneva or Vaud: does the canton change the choice of firm?
Yes, insofar as the taxation of individuals and companies is cantonal. The firm must know the practice of the tax authority of the canton of domicile.
For individuals, the Vaud tax shield caps cantonal and communal taxes at 60% of net taxable income: beyond that, the difference is refunded. Geneva applies a distinct mechanism, with its own caps, which cantonal legislation sets independently. The calculation of Vaud cantonal tax also depends on the communal coefficient, which varies from one commune to another.
Companies are not taxed in the same way: profit tax rates differ between Vaud and Geneva, and both cantons adjusted their scales following the federal corporate tax reform. The exact figures appear on the official websites of the cantonal administrations.
Practice matters as much as the law: response times to ruling requests, tolerance on supporting documents, handling of extension requests. If the return is not filed, an assessment ex officio is made, based on an estimate that the taxpayer may contest by lodging an objection within 30 days.
Federal law (CO, LTVA, LHID) applies in the same way everywhere. The difference lies in cantonal tax laws and in the customs of the offices.
Practical consequence: a business based in Lausanne benefits from retaining a firm that regularly files its returns with the Vaud Cantonal Tax Administration (ACI). A Geneva-based firm, or one in Martigny in the Valais, will be just as qualified for its own canton.
Small local firm or network such as PKF: which to choose?
The choice depends on the complexity of the file, not on the prestige of the name. The two models meet distinct needs.
A small local firm offers proximity, a single point of contact and responsiveness on day-to-day questions. It suits the self-employed person, the Sàrl with a few people and the SME whose structure remains simple. The risk lies in capacity: the absence or retirement of the key contact may disrupt follow-up.
A network such as PKF, present in French-speaking Switzerland, provides specialists in international taxation, transactions, transfer pricing and audit. It suits groups, companies with foreign subsidiaries and acquisition transactions. In return, the contact changes more often and the hourly rate is generally higher.
An intermediate solution exists: a regional firm that is a member of a professional association and relies on correspondents for specialised files. The towns of Vevey, Martigny and Nyon have such firms, with a more local than Lausanne- or Geneva-wide reach.
Practical consequence: ask who will actually handle the file, how many clients that person looks after and who covers in case of absence. Choosing a network is justified by an identified technical need, not on principle.
What checks should be made before signing a mandate?
Seven documentary checks are enough to rule out most unpleasant surprises.
Membership of a recognised association (TREUHAND SUISSE, Vaud or Geneva section) or, for activities subject to the LBA, membership of an SRO or FINMA authorisation.
ASR licence if the mandate includes an audit.
Certificate of professional liability insurance, stating the amount of cover.
Entry in the commercial register and an up-to-date extract, available free of charge on cantonal websites.
Written engagement letter, setting out the scope, billing method, deadlines and termination clause.
Permanent access to documents: right to the return of documents and accounting files, including in the event of a change of firm (art. 962f CO requires books to be retained for ten years).
Committed delivery deadlines: filing of the VAT return within 60 days following the end of the period (art. 71 LTVA), deadline for filing the tax return, date of the annual closing.
The professional secrecy of the fiduciary firm does not have the scope of that of a lawyer. Confidentiality undertakings must appear in the engagement letter.
Practical consequence: a firm that refuses to provide any one of these items gives useful information about how it works. The sheet on choosing a fiduciary in Switzerland sets out this list as a checklist.
Obtaining two comparable offers before deciding
The method comes down to three steps: draw up a common specification, request two written offers on that basis, and compare scope, fees and exit conditions.
An initial scoping meeting makes it possible to validate the scope, identify the documents to be supplied and set the deadlines (VAT return, interim balance sheet, tax return). It precedes any signature.
"The information presented in this article is provided for information purposes only and does not in any way constitute personalised legal, tax or accounting advice; for any specific situation, please consult a qualified professional, as Swiss legislation and cantonal practices may change or vary from case to case."
FAQ
No, the title of fiduciary is not protected. Only auditing is regulated by the LSR, with a licence from the ASR. It is therefore necessary to check the firm's association membership, qualifications and professional liability insurance.
Compare two written offers before signing
Request two offers on the same specification, then schedule a scoping meeting to validate scope, fees and deadlines.
