The Canton of Zug is a perfect location for start-ups and innovative ideas. The unique “Spirit of Zug” is based on exemplary customer proximity, solution-oriented pragmatism, short distances, and professionalism. It is this very spirit helps the existing companies in the Kanton of Zug tremendously.
The Canton of Zug is uniquely suited to both, business and living. Its economic success is based on a distinctive long-term development strategy, that provides excellent conditions to all members of society. It has a dense network of services, suppliers and private support organizations and a unique mix of local and international companies. Further, the Canton makes ample investment in education and culture, and provides attractive tax levels for legal entities and individuals. The availability of both, efficient infrastructure and beautiful living environment, makes the Canton of Zug optimal overall solution.
Pioneering role for the Zug business location
The digital transformation of Zug not only concerns businesses but is also actively promoted by the government and educational institutions. As early as the summer of 2015, the City of Zug decided that fees of up to 200 Swiss francs charged by the residents’ registration office could be paid with Bitcoins as part of a pilot project. In addition, the Commercial Register of the Canton of Zug accepts its fees to be paid in Bitcoin or Ether. It also accepts the formation of companies with Bitcoin or Ether to be provided as contribution in kind. Most recently, in late 2017 the City of Zug issued the first blockchain based digital identities.
Zug – a role model for success in FinTech
The Swiss Federal Council has recognized the importance of the FinTech sector for Switzerland’s continued success as a financial center in the future. As a result, it agreed to a modification to the Bank Ordinance on August 1, 2017 allowing FinTech companies up to a certain size to develop and test out their business models without becoming immediately subject to the regulations of the financial sector. After a visit to the Crypto Valley, the Federal Minister for Economic Affairs Johann Schneider-Ammann admitted that there was a backlog at the federal level. Based on the expertise and knowledge in Zug they were keen to amend the situation quickly and to listen to the requirements of the many innovative companies.