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Related parties disclosure
 12 Months Ended
Dec. 31, 2023
Related Party Transactions [Abstract]  
Related parties disclosure

Note  34.   Related parties disclosure

 

Subsidiaries

 

As at December 31, 2023, the consolidated financial statements of the Group include the entities listed in the following table:

 

Group Company Name   Country of incorporation   Year of incorporation   Share Capital   % ownership
as at December 31, 2023		   % ownership
as at December 31, 2022		   Nature of business
SEALSQ France SAS   France   2010   EUR 1,473,162   100%   100%   Chip manufacturing, sales & distribution
WISeKey IoT Japan KK   Japan   2017   JPY 1,000,000   100%   100%   Sales & distribution
WISeKey IoT Taiwan   Taiwan   2017   TWD    100,000   100%   100%   Sales & distribution

 

Related party transactions and balances

 

    Receivables as at Payables as at Net expenses to Net income from
  Related Parties December 31, December 31, December 31, December 31, in the year ended December 31, in the year ended December 31,
  (in USD'000) 2023 2022 2023 2022 2023 2022 2021 2023 2022 2021
1 WISeKey International Holding Ltd                          —                        —                 7,100                 7,122                 5,283                    796                    526                        —                        —                        —
2 Wisekey SA                          —                        —                        —                        —                        —                        —                     94                        —                        —                    128
3 WISeKey USA Inc                          —                        —                    981                    154                    827                    558                    883                        —                        —                        —
4 WISeKey Semiconductors GmbH                          —                        —                    881                    773                    180                    105                    401                        —                        —                        —
5 WISeCoin AG                          —                        —                 3,389                 3,306                     75                     86                     90                        —                        —                        —
  Total                          —                        —               12,351               11,355                 6,365                 1,545                 1,994                        —                        —                    128

 

1. The SEALSQ Group is controlled by WISeKey International Holding Ltd, which provides financing and management services, including, but not limited to, sales and marketing, accounting, finance, legal, taxation, business and strategy consulting, public relations, marketing, risk management, information technology and general management. The expenses in relation to WISeKey International Holding Ltd in 2023, 2022 and 2021 relate to interest on outstanding loans and the recharge of management services.

 

 

 

2. WISeKey SA is a subsidiary of the group headed by WISeKey International Holding Ltd (the “WISeKey Group”) and provides management services to the SEALSQ Group, including, but not limited to, sales and marketing, accounting, business and strategy consulting, public relations, marketing, risk management and information technology.

 

3. WISeKey USA Inc is part of the WISeKey group and employs sales staff who work for the SEALSQ Group. The expenses in relation to WISeKey USA Inc. relate to the recharge of employee costs.

 

4. WISeKey Semiconductors GmbH is part of the WISeKey Group and employs sales staff who work for the SEALSQ Group. The expenses in relation to WISeKey Semiconductors GmbH relate to the recharge of employee costs.

 

5. WISeCoin AG is part of the WISeKey Group. The expenses recorded relate to interest on an outstanding loan.