Facts you need to know for Switzerland Residency Program

Switzerland is amongst one of the most prosperous countries in the EU. Many have long dreamed of staying in Switzerland for a successful and wealthy life due to its high living standards, world-class infrastructure, safety, healthcare, political neutrality, and attractive investment opportunities. Switzerland has always been expensive to live and work in Europe.

The Advantages of the Swiss Residency Program

The Swiss residence permit enables visa-free travel to all Schengen countries. It facilitates first-rate infrastructure, banking services, high living standards, favorable environmental conditions, world-class educational institutions, and an appealing taxation system. In addition to this, after ten years of residency, it is possible to obtain citizenship too in Switzerland.

Requirements for the Swiss Residency Program

The age of the applicants must be 18 years or above. The applicant and all dependents included in the application must not have criminal records. The applicant must not be working in Switzerland at the time of application.

However, a person can manage their international investment portfolio from Switzerland and conduct business outside the country. The applicant must pay certain taxes per year. The annual lump-sum tax gets determined by several factors, including the applicant’s standards of living in Switzerland, the canton in which he resides, and the municipality in which he resides. Actual tax liabilities range from CHF 250,000 to CHF 1 million per year, with additional requirements and fees varying by canton.

It is vital to remember that a person residing in Switzerland needs health insurance. To better understand this, you can reach out to insurance companies. They’ll tell you about different types of health insurance and suggest the best health insurance in Switzerland.

Swiss One-Time Taxation

Swiss Lump Sum Taxation is best suited for wealthy individuals or retirees. On the other hand, Swiss Company Formation is best suitable for investors and corporates who want to set up a Swiss company and gain residency through self-employment. The Swiss residence permit entitles the holder to visa-free travel throughout the Schengen Area of Europe.

The most popular cantons for this programme are Appenzler, Bern, Geneva, Fribourg, Graubunden, Jura, Nidwalden, Schwyz, St.Gallen, Vaud, Valais, Lucerne, Solothurn, Obwalden, Thurgau, Ticino, Zug.

Real Estate in Switzerland

Buying or investing in Swiss real estate property can be difficult for foreigners who are not Swiss residents. The real estate market is costly and in high demand, with good appreciation and an excellent target return for investors.

Non-resident foreign nationals can buy a vacation home or a hotel condominium in Switzerland if they get permission from the authorities. Authorities make it challenging to obtain approvals. Such approvals are subject to several restrictions, such as appropriate size and the ability to purchase under the personal name (not by the company), making estate planning even more difficult. There can be two paths by which you can buy the property: First, apply for a Swiss residence permit and purchase Swiss real estate. You can avail of a Swiss permit by negotiating “lump sum taxation” with a specific Swiss canton or establishing a business in Switzerland and qualifying as a company director. You can buy property in any location once you have received your residence permit.

You also choose to buy a property directly in the “Andermatt Swiss Alps” real estate luxury project, allowing foreigners to buy a Swiss property without any restrictions or a residence permit. It was the only project that granted a “special” and extremely rare exemption under Swiss Lex Koller law, allowing foreigners to invest in it freely. Foreigners who are not residents of Switzerland may purchase an apartment or a hotel condominium without obtaining a residence permit. For tax purposes, they can even buy under a company name.

The Andermatt Swiss Alps (ASP) is a massive luxury Alpine resort community real estate project that includes 490 apartments in 42 buildings, 30 private villa holiday homes, a golf course, and four to five-star hotels. You can locate ASP in the Canton of Uri, and it is approximately a one-hour drive from Zurich’s city centre.

Conclusion

Switzerland extends a fantastic quality of life, and it ranks as one of the best places to live globally. Many international organisations call it home, and it is known for its multicultural and multilingual society and its politically and economically stable environment.