Wisekey shareholders vote to move holding company from Zug to the British Virgin Islands

Cyber-security specialist Wisekey will relocate its Swiss holding entity to the British Virgin Islands (BVI) after shareholders approved a cross-border merger at an extraordinary general meeting on 15 September. Operational and tax headquarters – including 120 engineering and administrative staff – will remain in Geneva, while western-Swiss satellite operations are unaffected. The structural shift mirrors a model the group successfully used for its semiconductor spin-off Sealsq ahead of the latter’s Nasdaq listing. CEO Carlos Moreira told the Swiss press that a BVI domicile offers easier access to US capital markets and simplifies the group’s planned dual-listing strategy without altering Swiss payrolls. From a global-mobility perspective, the impact is two-fold. First, executives whose employment contracts sit with the holding company will see their employer of record change; HR teams must review social-security coordination, permanent-establishment risks and applicable equity-plan taxation. Second, the move underscores that Switzerland can remain an operational hub even when corporate entities seek offshore capital-market efficiencies – a trend mobility managers must track to align assignment letters and immigration sponsorships. The Canton of Zug, long favoured for its low tax rate and English-speaking administration, has recently seen several tech holdings migrate on paper while keeping high-value jobs local. Authorities there said that substance requirements for preferential tax rulings will be tightened from 2027, a signal that future relocations may face closer scrutiny. Multinationals contemplating similar structures should therefore map immigration sponsorship obligations early, especially for third-country nationals on B or L permits linked to the Swiss entity.