(Art. 52 para. 1 FinIA)
1
A foreign financial institution is any company organised in accordance with foreign legislation and which:
a.
possesses authorisation abroad as a financial institution;
b.
in the company name, in the description of its business purpose or in commercial documents uses terms in accordance with Article 13 paragraph 2 FinIA or a term of similar meaning; or
c.
operates a financial institution within the meaning of Article 2 paragraph 1 FinIA.
2
If the foreign financial institution is effectively managed from Switzerland or if it executes its transactions exclusively or predominantly in or from Switzerland, it must be organised in accordance with Swiss legislation and be subject to the provisions governing domestic financial institutions.45