If you must operate in CH because you need local presence for your business model, then GmbH is the way to go, it’s the lowest cost of entry into CH and more than adequate to set up for an ICO, have been there done that in CH, you will need a good Treuhand (Biz consultant and tax advisor, accountant) to help set it up…, shop carefully in the Treuhand market, they are not all created equal, they can usually set up in Kanton Zug no problem, provided they have the right contacts in the Kanton administration and they area familiar face there, so experience and contacts are important, they can also point you at the right biz tax lawyer, expect to shell out EU 15000 to get all of this done now a days, after first shopping around…

That said I agree with you, in most cases CH is not the best place for an ICO , especially if your biz model is global in scope and you are looking for global investors to buy into in the ICO offer, and participate actively in your biz model later when you launch your solution, so consider Malta, Gibraltar which are near by and EU, and EU approved and organized with certain VAT exemptions and friendly toward crypto, the UK protectorates of BVI, Bermuda are also friendly places and forward thinking with crypto. There are other possible similar locales nearshore in Europe like Madeira, Isles of Wight and Mann, which could work, however they lag behind the others mentioned above in actively promoting crypto friendly environs and really have not done the work to ensure their regulations are as clear…