Estructura patrimonial internacional en 2025: ¿Delaware LLC o Fideicomiso Suizo?

Euforia | Intelligence Agency
Jul 30, 2025
6 min read

Ultra-high-net-worth individuals (UHNWIs) seek legal structures that offer asset protection, tax optimization, confidentiality, and succession planning. Two common vehicles in international wealth planning are the Delaware LLC (limited liability company in Delaware, USA) and the Swiss trust (or Swiss fiduciary company). Both Delaware and Switzerland enjoy strong reputations for their favorable legal frameworks: Delaware doesn't tax income earned outside its territory and hosts specialized courts, while Switzerland is renowned for its political stability and professional discretion. Below is a detailed cost-benefit comparison of each option, considering current legal and tax requirements (2025).

Delaware LLC (Limited Liability Company of Delaware)

Advantages: The Delaware LLC is highly popular for its legal flexibility and advanced business framework. Delaware allows complete customization of the LLC’s operating agreement (maximum contractual freedom), has a specialized Court of Chancery for corporate law that resolves disputes quickly, and does not impose state corporate income tax on entities whose profits are earned outside Delaware. In addition, LLC members (owners) do not have to appear publicly in state records, ensuring basic anonymity. This, combined with the fact that Delaware does not require the company’s physical presence, makes the Delaware LLC an attractive structure for billing international services or investments. For example, a Spanish consultant could bill European clients through a Delaware LLC without additional tariffs, benefiting from a “zero tax” regime on profits generated outside the U.S. under local legislation. In practice, Delaware LLCs have grown exponentially (over 180,000 formed in 2020) due to these advantages.

Disadvantages: However, this structure involves costs and obligations. Costs: formation has relatively low state fees (starting at ≈USD 160) and a fixed annual franchise tax of USD 300 (mandatory payment every June 1). In general, the initial cost is a few hundred dollars, and annual maintenance is a few hundred more (USD 300 annually). Taxation: if the LLC owner resides or operates in another country, they will be subject to that country’s taxation on distributed profits. Furthermore, although Delaware does not charge state taxes if operations are outside the state, the U.S. IRS taxes LLC income considered to be U.S.-sourced (e.g., having a bank account or conducting business in the U.S.). Banking and regulation: with the enactment of the U.S. Corporate Transparency Act (CTA) in 2024, all LLCs (including those in Delaware) must annually report the identity of their ultimate beneficial owners to the U.S. government, reducing traditional anonymity. Additionally, after FATCA and CRS, cross-border tax information exchange has become stricter. Another practical drawback is that many international banks refuse to open accounts for U.S. companies. According to experts, several offshore banks have stopped opening accounts for Delaware LLCs due to regulatory issues, complicating access to certain financial services.

Delaware LLC offers a stable legal environment and tax efficiency (0% state tax on external profits, specialized court, free operating agreement), with moderate formation/maintenance costs (≈USD 200–300 plus USD 300 annually). But it requires increasing regulatory compliance (CTA, FATCA) and may be less attractive for foreign banks. It works best when the LLC invoices internationally without U.S. domestic sales and when the owner’s jurisdiction allows favorable taxation.

Swiss Trust (Swiss Fiduciary Company)

Concept: Switzerland does not have a native trust law, but under the Hague Convention (2007), foreign trusts can be established and administered from Switzerland. In practice, Swiss wealth planning structures often involve a Swiss trustee (or Private Trust Company, PTC). The Swiss trustee manages the assets placed in trust with discretion and under the chosen jurisdiction (for example, a Guernsey or Malta trust with a trustee in Switzerland).

Advantages: Switzerland offers three key pillars: stability, financial expertise, and confidentiality. Its banking and fiduciary system is renowned for professional discretion. Swiss fiduciary associations impose strict secrecy rules: all information relating to the trust must be kept strictly confidential, except under court order. Additionally, under common law, trust assets are kept separate from the trustee’s personal estate: in the event of the trustee’s bankruptcy or death, the trust’s assets remain outside claims against the trustee, providing strong asset protection. From a tax perspective, having a Swiss trustee is advantageous: a trustee resident in Switzerland pays no Swiss income or capital gains tax on trust assets, and the settlor and beneficiaries (if not Swiss residents) are exempt from Swiss taxes. In practice, this means the trust can accumulate income or capital gains free of Swiss taxation, provided the client does not reside in Switzerland. Finally, the prestige of a Swiss trust —especially when it includes an old fiduciary company (decades in existence) as the holder— adds credibility with banks and counterparties.

Disadvantages: These advantages come at a price. Swiss trusts or fiduciary companies are very expensive compared to typical offshore structures. For example, acquiring an aged Swiss fiduciary company can cost between CHF 120,000 and 450,000 (depending on age and reputation), with annual maintenance of around CHF 10,000. Furthermore, since 2022, Swiss trustees are subject to FINMA supervision: they must meet strict organizational, solvency, audit, and conduct requirements. This increases complexity and compliance costs (e.g., minimum capital for the trustee, licensing fees, audits). Unlike an LLC, the Swiss solution is better suited for passive wealth (assets, investments) and long-term estate planning, not for active commercial operations. It is worth noting that although Switzerland values confidentiality, it participates in automatic financial information exchange (AEOI/CRS), so the trust’s existence may be reported to the tax authority of the resident.

Swiss Trust: Offers superior privacy and asset protection, and a favorable tax environment (no Swiss taxes for non-resident beneficiaries/assets), but requires very high investment for setup and maintenance. It is ideal for preserving wealth over the long term (inheritance, dynasty trusts) within a solid jurisdictional framework. However, the regulatory complexity and high costs (purchase of aged fiduciary company, trustee fees) make it viable only for very large estates.

Cost-Benefit Analysis of International Wealth Structures

Initial and recurring costs: The Delaware LLC requires modest fees: typical formation around USD 160–200 plus registered agent, and USD 300 annual franchise tax. In contrast, setting up a Swiss trust can involve tens or hundreds of thousands of CHF upfront (especially if acquiring an aged fiduciary company), plus the trustee’s annual fees (thousands of CHF). In terms of minimum investment, the LLC is clearly more economical.
Tax and legal advantages for large estates: Both structures aim to avoid double taxation on wealth. A well-managed Delaware LLC can generate state “tax-free” income and pass profits through to members. However, these profits will ultimately be taxed in the owner’s tax residence (e.g., Spain). The Swiss trust, on the other hand, can defer Swiss taxation on asset returns, with taxation only in the beneficiaries’ tax residence. Legally, the LLC benefits from an efficient system with extensive case law, whereas the trust depends on the chosen governing law (e.g., Guernsey) and the reliability of the regulated trustee.
Asset protection: In both cases, assets are separated from the individual owner. The LLC protects against third-party claims by limiting liability to the contributed capital. The Swiss trust adds an extra layer: entrusted assets belong neither to the trustee nor to the settlor personally (they belong to the trust), making them harder for external creditors to reach. Additionally, silent clauses (deferring notification to beneficiaries) and the possibility of a dynasty trust in Delaware enable multi-generational planning.
Confidentiality: Until 2024, Delaware did not require disclosure of LLC beneficial owners, but now the CTA mandates reporting ultimate beneficial owners to FinCEN. Switzerland, in contrast, maintains strict fiduciary confidentiality internally. However, both countries participate in automatic financial information exchange, so confidentiality is relative (tax data will be shared with the individuals’ country of residence). In practice, Switzerland offers an extra degree of globally recognized discretion compared to the (albeit limited) public registry of a U.S. LLC.
Banking and commercial operations: Delaware LLCs facilitate international transactions (billing in USD/EUR), but some European banks are wary of U.S. entities. The Swiss trust generally operates through Swiss or European banks, leveraging the local banking network. For active businesses, the LLC is more suitable; for preserving passive investments (real estate, securities, artwork), the trust provides a solid vehicle.

Conclusion

There is no universal “best” option, only the one that best fits the objectives, wealth size, and risk profile. A Delaware LLC is ideal for structuring global companies or investments economically and with solid legal backing, but it requires compliance with increasingly strict U.S. regulations (CTA, FATCA) and may face challenges in opening international bank accounts. A Swiss trust, on the other hand, involves a high upfront cost (hundreds of thousands in some cases) but offers maximum confidentiality and asset protection, making it especially attractive for fortunes seeking long-term succession planning within Switzerland’s prestigious framework.

For UHNWIs and their advisors, the cost-benefit analysis (tax objectives vs. maintenance costs) is crucial. For example, to diversify investments and bill without U.S. taxation, the LLC may deliver higher “financial returns” in the short term. To shield wealth from political and legal uncertainty, the Swiss trust may justify its higher cost. In practice, many advisors integrate both structures: Delaware LLCs are used for business operations, while their ownership is channeled through a trust or other international holding for added protection.

In any case, given the complexity and inherent risks, specialized legal/tax advice is recommended. Euforia Agency and our wealth consulting team offer personalized feasibility and management studies of international structures. We offer advisory and incorporation packages ranging from €1,500 (essential service, called Wealth Toolkit) to €24,500 (comprehensive service, called Black Swan Protocol), as well as fully bespoke solutions for large estates. Contact us to design the optimal structure that balances costs and benefits according to your specific situation.

Sources: Legislation and analysis of Delaware LLC; studies on Swiss trusts; private banking reports.