Citation: Art. 2 para. 1 let. c and Art. 14 para. 1 AMLA, SR 955.0; transitional provision to the amendment of 26 September 2025, para. 1, Anti-Money Laundering Ordinance (AMLO), SR 955.01.
Who counts as an adviser
The Anti-Money Laundering Act (AMLA) applies to financial intermediaries, to traders, and to advisers. An adviser is a natural or legal person who, for third parties and on a professional basis, takes part in financial transactions, including the raising of funds, in connection with any of the following specific legal transactions:
- the purchase and sale of real estate;
- the formation and establishment of non-operating legal entities with their seat in Switzerland, or of legal entities with their seat abroad;
- the management and administration of non-operating legal entities;
- contributions to and distributions from non-operating legal entities;
- the purchase and sale of legal entities, where the purchase or sale is made by a non-operating legal entity.
Non-operating legal entities are legal persons, companies, institutions, foundations, trusts, fiduciary enterprises and similar arrangements that are not formed or maintained to operate or support the operating activities of a business or a group, in particular domiciliary companies.
A natural or legal person who, on a professional basis and for more than six months, provides addresses or premises as the domicile or seat of legal entities is also an adviser.
Taking part includes advice that causally contributes to a legal transaction connected with a financial transaction listed above. The purchase and sale of real estate includes legal transactions that have the same economic effect on the power to dispose of real estate as a purchase or sale, and the encumbrance of real estate with a usufruct or a building right in return for payment. An adviser's activity in connection with the purchase and sale of real estate falls under the Act as soon as both parties have declared their intention to conclude the purchase contract, unless an exclusion listed below applies.
Citation: Art. 2 para. 1 let. c, para. 3bis and para. 3ter, Art. 2a para. 6 AMLA, SR 955.0; Art. 12d and Art. 12e Anti-Money Laundering Ordinance (AMLO), SR 955.01.
Exclusions
Natural and legal persons licensed or supervised by the Federal Audit Oversight Authority are excluded as advisers for their audit and review activity.
In view of the low risk of money laundering and terrorist financing, the following are excluded:
- transactions in connection with real estate and legal entities arising from family law, marriage and matrimonial property law, inheritance law or gifts, or between persons connected with one another within the meaning of Art. 2 para. 2 let. a of the Financial Institutions Act (FinIA);
- transfers of real estate and legal entities with a value below CHF 5 million, where the purchase price is paid and received exclusively through banks or other financial intermediaries subject to the Anti-Money Laundering Act (AMLA);
- the purchase of owner-occupied residential property in Switzerland, or the purchase of residential property in Switzerland that serves as a replacement property within the meaning of Art. 12 para. 3 let. e of the Steuerharmonisierungsgesetz (Tax Harmonisation Act, StHG): the sale of a permanently and exclusively owner-occupied home (a single-family house or a flat in condominium ownership), where the proceeds are used within a reasonable period to acquire or build a replacement home in Switzerland used in the same way;
- the transfer of agricultural businesses or agricultural land under the Bundesgesetz vom 4. Oktober 1991 über das bäuerliche Bodenrecht (Federal Act of 4 October 1991 on Rural Land Law, BGBB) to persons who intend to farm them themselves;
- the transfer of real estate for the purpose of land consolidation and similar procedures;
- activity as a governing body of operating legal entities, of charitable foundations, and of operating associations with their seat in Switzerland;
- the establishment of foundations upon death;
- notarisation alone, without accompanying advisory activity.
Citation: Art. 2 para. 4bis and para. 4ter AMLA, SR 955.0; Art. 12 para. 3 let. e StHG, SR 642.14.
When advice is professional
Advice is professional when it is an independent economic activity directed at lasting income. It is professional in every case when the adviser:
- earns gross revenue of more than CHF 50,000 from it per calendar year;
- advises more than 20 clients per calendar year, or takes part in more than 20 legal transactions per calendar year;
- must assume, applying the care required by the circumstances, that the advice concerns third-party assets exceeding CHF 5 million at any point in time; or
- must assume, applying the care required by the circumstances, that the advice concerns financial transactions with a total volume exceeding CHF 2 million per calendar year.
It makes no difference whether the advice is a main or a secondary activity. Activity for closely related persons counts towards professional status only if it earns gross revenue of more than CHF 50,000 in the calendar year.
Citation: Art. 12f Anti-Money Laundering Ordinance (AMLO), SR 955.01.
What joining a Self-Regulatory Organisation (SRO) means
Advisers must join a Self-Regulatory Organisation (SRO). Supervision of an adviser's compliance with the duties under the Anti-Money Laundering Act (AMLA) lies with the recognised Self-Regulatory Organisations (SRO). An adviser is entitled to join a Self-Regulatory Organisation (SRO) when:
- through their internal rules and their organisation, they ensure the fulfilment of the duties under the Anti-Money Laundering Act (AMLA);
- they have a good reputation and offer assurance that they will fulfil the duties under the Anti-Money Laundering Act (AMLA);
- the persons entrusted with their administration and management also meet the conditions of the previous point; and
- the persons holding a qualifying participation in them have a good reputation and assure that their influence does not operate to the detriment of prudent and sound business conduct.
A Self-Regulatory Organisation (SRO) may make affiliation dependent on activity in certain areas, and may set further conditions for affiliation in its regulations.
The Swiss Financial Market Supervisory Authority (FINMA) keeps a register of the advisers affiliated to a Self-Regulatory Organisation (SRO). The register is publicly accessible in electronic form.
Citation: Art. 12 let. d, Art. 14 para. 1 to 3, Art. 18b para. 1 AMLA, SR 955.0.
1 December 2026: the deadline for advisers active on 1 October 2026
An adviser who was active as an adviser under Art. 2 para. 3bis or 3ter of the Anti-Money Laundering Act (AMLA) on 1 October 2026 must apply for affiliation to a Self-Regulatory Organisation (SRO) by 1 December 2026.
Until the decision on the application is received, the adviser may continue the activity only within existing business relationships.
A financial intermediary acting as an adviser on 1 October 2026 notifies its advisory activity by the same date instead; see "Firms that are already financial intermediaries" below.
Citation: transitional provision to the amendment of 26 September 2025, para. 1, Anti-Money Laundering Ordinance (AMLO), SR 955.01.
Advisers who become professional after 1 October 2026
An adviser who changes to professional activity after 1 October 2026 must comply at once with the duties under Art. 8b, 8d, 9, 9b, 10a and 11a of the Anti-Money Laundering Act (AMLA), and must, within two months of the change, apply to a Self-Regulatory Organisation (SRO) or notify the advisory activity to the authority or organisation responsible for supervision. Until affiliation to a Self-Regulatory Organisation (SRO), that adviser may continue to advise existing clients and accept instructions from them for new transactions and services. An adviser who does not apply or notify within the time limit, or whose affiliation is refused, is prohibited from continuing to act as an adviser under Art. 2 para. 3bis or 3ter of the Anti-Money Laundering Act (AMLA).
Citation: Art. 12g Anti-Money Laundering Ordinance (AMLO), SR 955.01.
The duties that come with it
Advisers must:
- identify the client;
- establish the beneficial owner;
- comply with the duty to keep records;
- identify the subject and the purpose of the transaction or service the client wants; and
- clarify the background and the purpose of a transaction or service where this is justified by the high risks arising from the transaction, the service or the client.
The scope of these duties depends on the risks arising from the transaction, the service or the client. The Self-Regulatory Organisation (SRO) sets the scope of the duties for its affiliated advisers, with simplified or enhanced duties for low or high risks, and in particular the circumstances in which advisers must clarify the background and purpose of a transaction or service.
Advisers take, in their field, the organisational measures necessary to prevent money laundering, terrorist financing and breaches of coercive measures under the Embargo Act (EmbA). They ensure, in particular, adequate staff training and controls.
An adviser must report without delay to the Money Laundering Reporting Office Switzerland when the adviser:
- knows or has a well-founded suspicion that the assets involved in the transaction or service are connected with an offence under Art. 260ter or Art. 305bis of the Swiss Criminal Code (SCC); originate from a felony or from a qualified tax offence under Art. 305bis number 1bis SCC; are subject to the power of disposal of a criminal or terrorist organisation; or serve the financing of terrorism (Art. 260quinquies para. 1 SCC);
- breaks off negotiations on the adviser's services because of such a well-founded suspicion; or
- knows or has reason to assume, from the clarifications made where risks are high, that data of a person or organisation forwarded under Art. 22a para. 2 AMLA match the data of a client, a beneficial owner or an authorised signatory of a business relationship, transaction or service.
A well-founded suspicion exists when the adviser has a concrete indication or several clues that the assets involved could meet the conditions in the first point, and the suspicion cannot be dispelled by additional clarifications.
Citation: Art. 8b, Art. 8c, Art. 8d, Art. 9 para. 1ter, 1quinquies and 1sexies AMLA, SR 955.0.
Lawyers and notaries
The Anti-Money Laundering Act (AMLA) sets specific rules for lawyers and notaries.
- Proceedings are excluded. Lawyers and notaries are outside the Act for activity in connection with court, criminal, administrative or arbitration proceedings, including representation in proceedings, advice on preparing and conducting proceedings, establishing the facts, assessing litigation risk, avoiding proceedings, and enforcing their outcome.
- Notarisation alone is excluded. Notarisation without accompanying advisory activity is outside the Act.
- The reporting duty is limited. A person acting as a lawyer or notary must report a suspicion only when both conditions are met: they carry out a financial transaction in the name of or for the account of a client, and the information they hold is not protected by professional secrecy under Art. 321 of the Swiss Criminal Code (SCC). The same conditions limit their duty to hand over information to the Money Laundering Reporting Office Switzerland on request.
- Controls are carried out by peers. To protect professional secrecy, a Self-Regulatory Organisation (SRO) must have its controls of lawyers carried out by lawyers, and its controls of notaries by notaries. Those carrying out the controls must hold a lawyer's or notary's licence, offer assurance of proper audit work, show relevant knowledge of the Act with corresponding practice and continuing education, and be independent of the member under control. They may not access information protected by professional secrecy, except where there are objective indications of a breach of due-diligence duties, access is strictly necessary for the control, and secrecy has been lifted by a court or by the client. Information made accessible in that way may not be passed on to the Self-Regulatory Organisation (SRO) or to other authorities. The compulsory measures court at the adviser's place of business decides on release from professional secrecy.
- Notaries controlled under cantonal law. Where a notary is also controlled by a cantonal authority under cantonal law, and the person instructed meets both the federal and the cantonal requirements, the controls may be coordinated.
Citation: Art. 2 para. 4 let. f and para. 4ter let. h, Art. 9 para. 2, Art. 11a para. 2, Art. 18a AMLA, SR 955.0.
Firms that are already financial intermediaries
The Anti-Money Laundering Act (AMLA) assigns a firm that is already a financial intermediary and also acts as an adviser to a single supervisor for all its activities:
- a financial intermediary subject to a supervisory authority under special legislation is supervised by that authority for all its activities;
- a financial intermediary affiliated to a Self-Regulatory Organisation (SRO) because of its activity under Art. 2 para. 3 AMLA is supervised by that Self-Regulatory Organisation (SRO) for all its activities;
- asset managers and trustees supervised by a supervisory organisation under Art. 43a of the Financial Market Supervision Act (FINMASA) are supervised by that supervisory organisation for all their activities.
A financial intermediary acting as an adviser on 1 October 2026 must notify that advisory activity by 1 December 2026 to the authority or organisation responsible for its supervision (its supervisory authority, supervisory organisation or Self-Regulatory Organisation (SRO)). It may continue to advise existing clients and accept instructions for new transactions and services.
Citation: Art. 12a para. 1 to 3 AMLA, SR 955.0; transitional provision to the amendment of 26 September 2025, para. 2, Anti-Money Laundering Ordinance (AMLO), SR 955.01.