United Kingdom
The United Kingdom (UK) is an important economic and political partner of Switzerland. Relations between the two countries are also close in the financial sector. The two countries hold regular financial dialogues which serve to establish and maintain privileged contacts with the authorities involved in financial matters.
Financial sector
On 21 December 2023 in Berne, Federal Councillor Karin Keller-Sutter and the UK Chancellor of the Exchequer, Jeremy Hunt, signed an agreement on mutual recognition in financial services, the Berne Financial Services Agreement. The agreement boosts competitiveness and fosters the close cooperation between these two major international financial centres. It will come into force on 1 January 2026.
For the first time, two countries have mutually recognised the equivalence of their respective legal and supervisory frameworks in selected areas of the financial sector on the basis of an in-depth review. This enables or facilitates access to the other party's market. This is complemented by enhanced regulatory and supervisory cooperation, ensuring stability, integrity and the protection of clients.
On the occasion of the Financial Dialogues held in London on 15 October 2024 and on 8 October 2025 in Berne, Switzerland and the United Kingdom issued a joint statement reaffirming their close cooperation.
Tax matters
In the area of taxation, a double taxation agreement (DTA) exists between Switzerland and the UK. The DTA has been revised several times, most recently by means of a protocol of amendment which entered into force on 19 July 2019.
DTA and protocols of amendment
In the area of administrative assistance in tax matters, the UK, like Switzerland, is a contracting party to the OECD/Council of Europe Multilateral Convention on Mutual Administrative Assistance in Tax Matters. On this basis and on the basis of the DTA, the two countries exchange information on request, automatically and spontaneously.
Switzerland and the EU signed an agreement on the AEOI in 2015. Since autumn 2018, data has been exchanged between Switzerland and the United Kingdom on this basis. As of 1 January 2021, the AEOI is continued on the basis of a Multilateral Competent Authority Agreement (MCAA).
Media
04.09.2024
Federal Council adopts dispatch on agreement with the United Kingdom on mutual recognition in financial services
At its meeting on 4 September 2024, the Federal Council adopted the dispatch on the approval of an agreement between Switzerland and the United Kingdom (UK) on mutual recognition in financial services. The agreement boosts competitiveness and fosters the close cooperation between the two major international financial centres.
21.12.2023
Switzerland and the UK sign agreement on mutual recognition in financial services
Today in Berne, Federal Councillor Karin Keller-Sutter and the UK Chancellor of the Exchequer, Jeremy Hunt, signed an agreement on mutual recognition in financial services, the Berne Financial Services Agreement. The agreement boosts competitiveness and fosters the close cooperation between these two major international financial centres.