The key documents for a foreign collective investment scheme (e.g. the sales prospectus, articles of association and fund contract) must be submitted to FINMA for approval prior to being offered to non-qualified investors in Switzerland.
Foreign collective investment schemes that are offered to qualified investors in Switzerland do not require authorisation. If foreign collective investment schemes are offered to high-net-worth retail clients in Switzerland who declare that they wish to be treated as professional clients (Art. 5 para. 1 FinSA), these collective investment schemes do not require authorisation, but must first designate a paying agent and a representative (Art. 120 para. 4 CISA).
The main approval requirements are (Art. 120 CISA):
Application templates for foreign collective investment schemes are available on FINMA's survey and application platform (EHP). The following unfolded application template serves as a guide and cannot be used as an application.
The following documents are available for foreign collective investment schemes: