FINMA licence in 4–6 months
With Peak Compliance, your application is plannable from the outset. The timeline shows the phases from needs analysis to licence; the individual steps follow further below in The FINMA application process in eight steps.
- 1Weeks 1–2Needs analysis and proposalBusiness model, key people, timeline; proposal.
- 2Weeks 2–8Organisation and documentsDirectives, organisation chart, business plan, ICS, fit-and-proper files.
- 3Months 2–3Application on the EHPEntry on FINMA's platform, enclosures, assignment to the supervisory organisation.
- 4Months 3–4Affiliation confirmed by the SOReview by AOOS or OSFINcontrol, queries, confirmation.
- 5Months 4–6Review by FINMASubmission with affiliation confirmation, queries, FINMA decision.
- ✓After 4–6 monthsLicence granted – start under supervisionCommercial register, ongoing supervision, compliance and risk management from day one.
Indicative values from completed procedures, from needs analysis to licence. The authority decides on the outcome and its timing.
FINMA licence requirements for portfolio managers
The requirements follow from FinIA and FinIO. In summary:
- Legal form: sole proprietorship, commercial company or cooperative entered in the commercial register (Art. 18 FinIA).
- Qualified management: as a rule at least two qualified persons (Art. 20 FinIA); qualified managers generally show five years of professional experience and at least 40 hours of training (Art. 25 FinIO).
- Fit and proper: the firm and the persons entrusted with its administration and management guarantee proper business conduct (Art. 11 FinIA).
- Risk management and internal control: an appropriate risk management system and effective internal control; both may be delegated to a qualified external entity (Art. 21 FinIA).
- Capital and collateral: CHF 100'000 minimum capital plus collateral or professional indemnity insurance (Art. 22 FinIA); own funds of at least one quarter of the fixed costs, up to CHF 10 million (Art. 23 FinIA).
- Supervisory organisation: proof of supervision by a supervisory organisation accompanies the application (Art. 7 para. 2 FinIA).
Setting up in Switzerland from abroad
For founders and groups from the UK, the EU, the Middle East or Asia, three points shape the Swiss set-up:
- Management in Switzerland: the firm is effectively managed from Switzerland, and its managers reside where they can actually exercise management (Art. 10 FinIA).
- Swiss-resident representative: the firm can be represented by a person resident in Switzerland who is a member of the management or the governance body; two authorised signatories sign jointly (Art. 23 FinIO).
- Branch or subsidiary: a foreign asset manager that opens a Swiss branch or employs staff in Switzerland follows separate FINMA rules (Art. 52 and Art. 58 FinIA). This page covers the licence for a firm established in Switzerland.
FINMA provides its application templates in English as well as in German, French and Italian. Peak Compliance works from Zurich and supports you on site or remotely, so preparation can start before your team relocates.
Roles and scope
- FINMA: grants the licence and supervises the supervisory organisations.
- Supervisory organisation (SO): confirms affiliation and supervises the firm after licensing. An SO is not a self-regulatory organisation (SRO); SRO affiliation concerns financial intermediaries without a FinIA licence.
- Audit firm: generally audits annually; the SO may extend the cycle to up to four years (Art. 62 FinIA).
- Peak Compliance: prepares, guides and, if you wish, takes over compliance and risk management. FINMA takes the decision.
- Other licences: fund and pension mandates above the thresholds call for the manager of collective assets licence; for Liechtenstein see the FMA licence; all options on FINMA and FMA licensing.
The FINMA application process in eight steps
- 1Needs assessment with Peak Compliancebusiness model, client domiciles, custodian banks, people and timetable; this sets the fixed price.
- 2Organisationmanagement, board oversight, risk management, internal control and compliance, and the functions Peak Compliance will take over.
- 3DocumentsPeak Compliance provides and tailors the templates: articles of association, directives, organisation chart, business plan, contracts and fit and proper documentation.
- 4EHP registrationyou register on FINMA's survey and application platform; after FINMA's review, you log in via the FINMA portal with two-factor authentication.
- 5Applicationcompleted in the EHP input form; we support the content and the enclosures.
- 6Supervisory organisationyou choose a FINMA-authorised supervisory organisation and send it your application via the EHP; it confirms your affiliation in writing.
- 7Filing with FINMAwith the confirmation, you file the application with FINMA via the EHP; we help with questions until the decision.
- ✓After licensingentry in the commercial register, ongoing supervision by the supervisory organisation and a working compliance and risk management function.
After licensing: compliance and risk management from day one
Once licensed, the supervisory organisation and the audit firm look at how your directives and processes work in practice. Peak Compliance provides the function through compliance outsourcing and risk management outsourcing. Background: FinIA explained. Further reading: Supervisory review 2026.
What does the FINMA licence cost?
- Peak Compliance fee: fixed price from CHF 10'000, set after the needs assessment, covering the entire support through to the decision.
- Authority fees: fees of the supervisory organisation (for example AOOS or OSFINcontrol) for the affiliation review and ongoing supervision, and FINMA's fee for the licensing decision. These are charged directly by the authorities.
- Ongoing operation: compliance and risk management outsourcing as agreed, usually as an annual flat fee.
You receive an overview of all three items before the start, so the budget is clear from day one.
Legal basis
- FinIA, Arts. 5, 10 and 17–23: licensing requirement, place of management, definition, legal form, management, risk management, capital
- FinIA, Arts. 61–62: supervision and audit
- FinIO, Arts. 23 and 25: organisation, Swiss-resident representative, qualified managers
- FINMA: Portfolio manager, Licensing process, Supervisory organisations
English versions of Swiss federal acts are translations for information; the German, French and Italian texts are binding.
Why Peak Compliance
- Peak Compliance AG, founded in 2024 and based in Zurich, specialises in asset managers in Switzerland and Liechtenstein.
- Experience with FINMA licensing processes and mandates with portfolio managers supervised by FINMA and the FMA.
- Cooperation with the supervisory organisations AOOS and OSFINcontrol.
- Templates for all application documents and one contact person from the first meeting to daily operation.
Start with your needs assessment: reach Peak Compliance by phone, contact form or online booking on our contact page.
At a glance
| Item | Details |
|---|---|
| Who it is for | Independent asset managers, wealth managers and EAMs that manage client assets on a commercial basis (Art. 17 FinIA) |
| Licensing authority | FINMA |
| Application route | Survey and application platform (EHP) → supervisory organisation (confirmation of affiliation) → FINMA |
| Ongoing supervision | Supervisory organisation (Art. 61 FinIA) |
| Minimum capital | CHF 100'000, paid up in cash (Art. 22 FinIA) |
| Substance | Effective management from Switzerland (Art. 10 FinIA) |
| Timing | Licence before you start operating; typically 4–6 months with Peak Compliance |
| Price | Fixed price from CHF 10'000, set after the needs assessment; authority fees charged separately |
Frequently asked questions
Is a «portfolio manager» the same as an asset manager or EAM?
In Swiss law, yes for most business models. FinIA and FINMA use «portfolio manager» for a firm that manages client assets on a commercial basis in the name and for the account of its clients; the market calls the same firms independent asset managers, wealth managers or external asset managers (EAMs). All of them need the FINMA licence under Art. 17 FinIA.
What does a FINMA portfolio manager licence cost with Peak Compliance?
Peak Compliance charges a fixed price from CHF 10'000, set after a short needs assessment. Fees of the supervisory organisation and FINMA are charged separately and directly by them. You receive an overview of all costs before the start.
How long does the FINMA licensing process take?
With Peak Compliance, typically 4–6 months from the needs analysis to the licence. The duration depends on how complete the documents are and on questions from the supervisory organisation and FINMA; the authority decides on the outcome and its timing.
Do the managers have to live in Switzerland?
The firm is effectively managed from Switzerland, and its managers reside where they can actually exercise management (Art. 10 FinIA). In addition, the firm can be represented by a person resident in Switzerland who sits on the management or the governance body (Art. 23 para. 2 FinIO). Peak Compliance reviews your planned set-up against these rules in the needs assessment.
How much capital does a portfolio manager need?
The minimum capital is CHF 100'000, paid up in cash and maintained at all times (Art. 22 FinIA). The law also requires collateral or professional indemnity insurance and own funds of at least one quarter of the fixed costs of the last annual accounts (Art. 23 FinIA). Peak Compliance includes these figures in your business plan.
May a portfolio manager outsource compliance and risk management?
Yes. Under Art. 21 para. 2 FinIA, risk management and internal control may be delegated to a qualified external entity. Peak Compliance takes over this function and builds it into the application from the start.
