Many Companies, Few Doorbells - The Municipal Geography of c/o-Addressed Firms in Switzerland

Abstract

This research paper examines the municipal geography of c/o-addressed firms in Switzerland. It focuses on active stock corporations (Aktiengesellschaften, AG) and limited liability companies (Gesellschaften mit beschränkter Haftung, GmbH), using the structured address.careOf field in the Swiss commercial register to identify firms registered through third-party addresses. Based on a cross-sectional register extract, the analysis compares absolute c/o volumes, relative municipal c/o shares, overrepresentation against the national baseline, address clustering, tax-context patterns and liquidation-related distributions. The findings show that c/o-addressed firms account for a notable share of registrations, but their geographical distribution depends on the measure used. Large economic and service centres dominate in absolute terms, whereas relative indicators reveal smaller and medium-sized municipalities with unusually high c/o intensity. Address-clustering patterns further show that, in some municipalities, c/o firms are concentrated at specific address infrastructures.