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Associations may be used for Decentralized Finance (DeFi) projects. The purpose of the associations must be political, religious, scientific, cultural, charitable, social or other non-commercial.

Formation: In practice, minimum of two members to constitute an association. As soon as intention to exist apparent from its articles of association (AoA).

Commercial register: In principle, associations are not obligated to be registered in the commercial register office. The association is only obliged to register if its purpose is of commercial kind or if a auditor is mandory (see requirements for audit below). An association that is not obliged to register in the commercial register can be registered voluntarily. With the entry in the commercial register, the association is subject to bankruptcy proceedings.

Accounting: If not registered in the commercial register, only keep accounts on income/expenditure/assets (no financials filing).

Audit: Generally, free to make auditing arrangements as deem fit (per AoA / general meeting). A full audit is mandatory by external auditors if the following criteria are given (two of three below in two successive years):

  • CHF 10 million in total assets
  • CHF 20 million turnover
  • 50 full-time staff total annual average
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