Can you change trustees at any time? Legal questions explained in Switzerland

“Can I really just switch providers like that?” Many small and medium-sized businesses ask themselves this question—often out of concern about legal consequences or contractual pitfalls. The good news is that in Switzerland, you are legally free to choose.

The Contractual Relationship Under Swiss Law

In Switzerland, fiduciary agreements are generally considered simple contracts (Art. 394 et seq. CO) or mixed contracts with elements of a mandate. This has an important consequence: Under Art. 404 CO, a contract may be revoked by either party at any time. This right is mandatory and cannot be excluded by contract.

Notice Periods – What Really Applies?

Many fiduciary agreements include notice periods of three months to the end of a quarter or year. These periods are generally valid but cannot override the right to terminate at any time under Art. 404 CO. However, in the event of termination “without cause” (i.e., without good reason), damages may be due. In practice: Stick to the agreed-upon notice period, and you’ll be on the safe side.

Obligations of the Previous Trustee

Even in the event of early termination, the previous trustee must hand over all documents—this is a legal obligation. This includes accounting records, tax files, VAT returns, and correspondence with authorities. Originals subject to retention requirements (10 years under the Swiss Code of Obligations) must either be handed over or continued to be archived.

Invoice from the previous fiduciary

Services rendered up to the effective date must be paid—even if you were dissatisfied. In cases of clearly deficient services, a legal review is advisable. Our article Changing Fiduciaries Without Chaos describes how the transition works in practice. You can find out which warning signs indicate legal risks in our 7 Warning Signs.

Conclusion

You may change your trustee at any time—the law is on your side. Adhere to notice periods, request documents, and settle accounts properly. Findea supports you with the contractual termination and ensures a legally compliant transition.