Can someone please tell me what a:

Private limited Company is?

My friend set it up as a Sole Trader but limited Company...how is that possible? Is it a GmbH now?

Still have not found an accountant? All your answers are there

Not coming from the UK, I wish you would use the terminology used here, so we can all be on the same sheet of music.

Einzelfirma, single owned company. 100% personally responsible.

GmbH, limited responsibility. You are an employee of your own
company.

AG, signed by three (I think) persons. Company 100% responsible.

I may be able to help you with some answers, if I knew what your were
talking about

With the new "Aktienrecht" which is active since 1.1.2008 it is possible to found and have a limited company (AG or GmbH) with just one Person.

So yes it is possible you friend has a one owener GmbH or AG in Switzerland.

Btw. not only this point has changed in the new law.

Thanks for the correction. It is time to spend a few evenings to bring
myself back up to date

Well, that's really great news then for my friend. Because if she has a GmbH it will be easier to register in Switzerland as self-employed :-)

Oh and...she set that business up in the UK...so I wasn't sure what it is exactly called in Switzerland...that's why I asked. And I tried to use the Search option before but nothing came up...so...sorry for any incovinience...