As of 1 October 2026, the Federal Act on the Transparency of Legal Entities and the Identification of Beneficial Owners (TLEA) will be brought into force. Under the new enactment, companies and other legal entities are made subject to additional obligations. Furthermore, a central register is being established in which the beneficial owners are recorded.
A factsheet outlining the key requirements, deadlines and practical steps relating to the new Swiss Transparency Register can be found here. A complementary Q&A provides answers to frequently asked questions.
The following series of articles is devoted to the essential changes that the TLEA entails and highlights the need for action arising for companies from the new requirements. At its centre are the following five subject areas: the scope of application of the Act (including exemptions, for instance for group companies); the determination of the beneficial owners; the various types of control; the newly introduced reporting and documentation obligations, both for the companies themselves and for shareholders and beneficial owners; and the inspection and control responsibilities of authorities and of third parties such as financial intermediaries.
All articles in the series are compiled below.
- Transparency Register in Deals: Five Points for M&A and Investor Agreements
Since 1 October 2026, the Federal Act on the Transparency of Legal Entities and the Identification of Beneficial Owners (TLEA or Transparency Act) and the related Ordinance on the Transparency of Legal Entities and the Identification of Beneficial Owners (TLEO or Transparency Ordinance) have been in force.
- Direct Interest under Art. 1 TLEO: When 25 Percent is sufficient – and when it is not
Anyone required to report their beneficial owners to the new transparency register must first resolve the preliminary question of who these persons actually are.
- Hardly any Shares – yet still in the Transparency Register: Control by other Means under the new Transparency Act
The Federal Assembly adopted the Federal Act on the Transparency of Legal Entities and the Identification of Beneficial Owners (TLEA or Transparency Act) on 26 September 2025.
- Introduction of a Central Transparency Register in Switzerland for Registration Beneficial Owners of Companies and Other Legal Entities
On 26 September 2025, the Swiss Parliament passed the new Federal Act on the Transparency of Legal Entities and the Identification of Beneficial Owners (TLEA).
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
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