You hold Swiss shares. But are you actually registered as a shareholder?
Most of them are not. At first glance, it costs nothing. But it costs voting rights, dividends in kind and direct communication from the company. If you don't enter your name in the share register, you won't get the Lindt chocolate box, the annual Swatch watch or a say at the Annual General Meeting.
Quick note for ETF investors: This article does not apply to you. The register entry only applies to directly held registered shares.
For everyone else: Find out here what the share register in Switzerland is, which companies pay out dividends in kind, what brokers charge for them and where there are practical problems.
The share register is the official list of all registered shareholders of a public limited company. It contains the name, address, number of shares and the basis for determining who is authorised to exercise which rights.
The share register is not public and should not be confused with the commercial register.
So if you want to be listed in the share register, you must first hold the right type of share and be actively registered.
Bearer shares belong to the person who holds them. No name or entry is required. In Switzerland, they have effectively been abolished for listed companies since the 2019 revision of company law. Most large Swiss companies have switched to registered shares. Swiss registered shares, i.e. shares issued in a name, are now the standard for listed companies.
Registered shares are traded like any other share. However, you must be actively registered to exercise your full shareholder rights.
One special feature: some companies offer so-called Registered shares with restricted transferability. There, the company can restrict the entry in the articles of association or make an entry without voting rights. It is worth taking a look at the regulations when making a purchase.
That's not true.
Anyone who buys registered shares via a broker is the beneficial owner. In practice, shares are held via intermediaries. As a rule, the company does not see you directly, but your broker or custodian bank. Without an active entry in the register, you are not recognised with full membership rights.
You will still receive the cash dividend. It is a property right and runs through the broker.
But what is missing without an entry: voting rights, dividends in kind, direct communication. These are membership rights, and they depend on the entry in the register.
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Only registered shareholders are entitled to vote at the Annual General Meeting and can vote on agenda items such as remuneration reports, elections to the Board of Directors or capital increases.
You do not have to appear in person. A power of attorney to the independent proxy is sufficient. But neither is possible without an entry.
Important: Many companies close the share register a few days before the AGM. Anyone who is registered after this date can only vote at the next AGM. You will find the specific cut-off date in the AGM invitation.
Some Swiss companies offer registered shareholders Dividends in kind, also known as «dividends in kind» - products, discounts, vouchers.
The chocolate package from Lindt & Sprüngli is given to registered shareholders who attend the AGM or grant a power of attorney. Titlis Bergbahnen lets registered shareholders take a mountain ride for CHF 20, which normally costs around CHF 100. These are shareholder rights that you only receive if you are registered.
Natural dividend list: Swiss companies with shareholder gifts (as at April 2026):
| Company | Dividend in kind | Concrete advantage | Remark |
|---|---|---|---|
| Lindt & Sprüngli | Chocolate parcel | Estimated value of goods ~CHF 200-300 | Only with GM participation or authorisation; value not officially published |
| Swatch Group | Shareholder gift, often in the form of a special Swatch watch | ~CHF 60-80; resale on Ricardo.ch: CHF 40-70 (as of April 2026) | CH delivery address only; active instruction required |
| Zurich Zoo | Free admission per share (annually) | ~CHF 31-32 per adult ticket | 1 admission per share, no annual pass |
| Jungfrau Railways | Annual shareholder offer, e.g. discounted train ticket | varies | 1 share for the normal offer; from 250 shares: shareholders' club with special conditions |
| Titlis mountain railways | Shareholder voucher: 1 day ski or return Engelberg-Titlis for CHF 20 | ~CHF 80 saving (normal price around CHF 100) | Officially booked for 2026 |
| Calida Group | 50% Discount voucher for one purchase (max. CHF 250) | Max. CHF 250 saving on a purchase of CHF 500 | Formerly free pyjamas; since 2025 only discount. At least 20 shares |
All information has been carefully researched but is subject to change. Conditions and minimum number of shares may change annually. Please obtain binding information directly from the respective company.
Registered shareholders receive the annual report, the invitation to the AGM and important notifications directly, not via the broker as an intermediary.
However, whether you can actually use all of this depends on another factor: your broker. Not all of them allow you to register. Some charge fees for this. Others do not have a standardised process. More on this below.
With ETFs, the ETF company holds the shares, not you. An entry in the register is neither possible nor necessary.
For most investors, diversification via ETFs remains the more sensible choice. The share register is an issue for all those who specifically hold individual Swiss shares.
The process is simple in principle: you make an enquiry, the broker contacts the registry and the company makes the entry. In practice, this varies considerably depending on the provider. Some have integrated the register entry directly into the platform, others have no standardised process, some simply do not allow it. The PostFinance share register, for example, offers the entry directly in e-trading.
| Broker | Entry possible | Costs | Process |
|---|---|---|---|
| Zak Invest | Yes | free of charge | Request once via Zak Support, then automatically |
| PostFinance | Yes | Not recognised separately | Directly in the e-trading platform: «Register my shares» |
| Swissquote | Yes | free of charge | on customer request; not automatically |
| Cornèrtrader | Yes | not publicly known | Form «General registration authorisation»; approx. 5 working days |
| Interactive Brokers | No public information | No public information | Clarify with the provider on request |
| Saxo Bank | No public information | No public information | Clarify with the provider on request |
| DEGIRO | No | n.a. | structurally not possible (omnibus structure) |
| Yuh | Not publicly offered | n.a. | theoretically possible on request according to the custody account regulations; practically unclear |
| NEON Invest | No | n.a. | not officially offered |
As at: April 2026. Information has been researched to the best of our knowledge. Processes and costs are subject to change. Recommendation: enquire directly with the provider.
Some investors choose their broker specifically because of the share register entry. One reader wrote to us: «I hold my Swiss registered shares with Zak Invest. They have a free entry in the register.» Combining brokers is quite common as soon as you know what is important for the respective type of share.
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Zak Invest is the investment feature within the Zak App, the digital banking solution from Bank Cler. Bank Cler is part of 100% of the Basler Kantonalbank (BKB). It is subject to supervision by the Swiss Financial Market Supervisory Authority (FINMA). Client securities are held in custody separately from the bank's assets.
With Zak Invest, the share register entry for Swiss registered shares is free of charge. A one-off authorisation via Zak Support is required, after which the entry is automatic. This is currently a truly unique selling point for a neobank investment solution in Switzerland.
The most important key data:
| Tradable securities | Over 12,000 shares, ETFs, funds |
| SIX trading fees | 0.25% (min. CHF 5, max. CHF 50) |
| International trading fees | 0.5% (min. CHF 15, max. CHF 300) |
| Deposit fee | 0.25% p.a. (no maximum) |
| Zak Plus (CHF 8/month) | 50% Discount on all trading fees |
| e-tax statement | from CHF 75 |
| Savings plans | not yet available (planned) |
Where Zak Invest scores: Product selection (more than 12,000 securities), free share register entry (to be set up once via Zak Support), integration into Zak Banking, access to Bank Cler branches. Those who use Zak Plus receive a 50% discount on all trades, which pays off for regular purchases of around CHF 1,600 or more per month.
What you should know: The custody account fee of 0.25% p.a. has no maximum. For a custody account of CHF 80,000, this corresponds to CHF 200 per year, the maximum charged by other providers. Above this amount, they are more favourable. However, Zak Invest remains competitive for concentrated positions in Swiss registered shares in the mid-portfolio range.
For most investors, Zak Invest is not automatically the best broker solution. However, those who specifically hold Swiss registered shares and simply want to solve the entry in the register have a real practical advantage here.
You can find everything about fees, app features and my personal test in the detailed Zak Invest experience report.
The complete broker comparison can be found here: Online Broker Comparison Switzerland | Trading App Switzerland
This article was produced in collaboration with Bank Cler / Zak Invest. The editorial responsibility lies with Schwiizerfranke.
"Intelligent people learn from the mistakes of others".
We have compiled our top selection for you from all our tests and experience reports:
You will receive the cash dividend even without an entry in the share register; it runs as an asset right via the broker.
What you miss out on without registration: Voting rights at the Annual General Meeting. Dividends in kind: Chocolate, mountain railway tickets, free admission, depending on the company. And direct communication from the company.
Entry is not equally easy with every broker. Swissquote, PostFinance and Zak Invest allow it without a separate fee, but the process differs depending on the provider. With others, it is more complicated or not possible at all.
The entry is particularly relevant for anyone who specifically holds Swiss registered shares with dividends in kind or wishes to exercise their voting rights. For pure ETF investors, this is irrelevant.
For those looking for the easiest way: At Zak Invest the entry is free of charge and is set up once via Zak Support, after which it takes place automatically.
In short: If you hold Swiss registered shares, you should not treat the register entry as a detail. It determines whether you are only the beneficial owner or also count as a shareholder with all rights.
No investment advice. Own research remains mandatory.
This article was written in collaboration with Zak from Bank Cler. All content has been compiled independently. Responsibility for research, assessments and presentation lies with Schwiizerfranke.
For all those who hold registered shares: yes. Without registration, the membership rights are missing, i.e. voting rights and entitlement to dividends in kind. The cash dividend as a property right is nevertheless paid via the broker.
Most Swiss blue chips: Nestlé, Novartis, Roche, UBS, Swiss Life, Swatch, Lindt & Sprüngli, Schindler and many others. The Lindt registered share is particularly well known because of its annual chocolate box. Registered shares can be recognised by the letter «N» in the short name, e.g. «Nestlé N».
That depends on the broker. Swissquote and Zak Invest offer it without a separate fee. PostFinance does not charge a separate fee. DEGIRO and NEON do not offer it.
No. In the case of ETFs, the ETF company holds the shares. An entry in the register is neither possible nor necessary.
Typically a few working days. Depending on the broker and company, up to 5 working days. Confirmation is sent in writing or by e-mail.
Yes, a power of attorney to the independent proxy is sufficient. Prerequisite: Entry is made in the AGM invitation before the cut-off date.
These are two different cut-off dates that are often confused. The ex-dividend date applies to the cash dividend: Anyone holding the share before this date will receive the distribution automatically via the broker, without an entry in the register. The closing of the register before the AGM, on the other hand, applies to membership rights: Anyone who is registered by then can vote and is entitled to dividends in kind. You can therefore collect the cash dividend without ever having been registered. You can only get the Lindt suitcase and the Swatch watch if you are registered in good time.
Some companies can restrict the entry in the register in their articles of association or make it without voting rights. This can be found in the company's articles of association. When buying registered shares, it is worth taking a look at the regulations.
Eric is the founder of Schwiizerfranke.com and certified IAF wealth advisor. Since 2019, he has been helping Swiss citizens to organise their finances comprehensibly, independently and efficiently.
📌 Note: This article is for information purposes only and does not constitute personalised investment advice.
