Switzerland continues to be one of the top countries to emigrate to! Its low taxes, high level of safety and standard of living make it a particularly popular choice for wealthy foreigners. As a result, the demand for properties in Switzerland has also continued to be very high. However, depending on your nationality and residence permit, you may need to obtain a special permit in order to buy property in Switzerland.
Lots of people in Switzerland dream of owning their own home. Whether apartments, family homes or luxury villas – demand for property continues to be high despite the increase in mortgage interest rates.
Foreigners wishing to relocate and buy property in Switzerland have to refer to a special law – the ‘Lex Koller’ – that governs just that. Koller’s law sets out the requirements that foreign nationals have to meet and instances where they need to obtain a special permit in order to be able to buy property in Switzerland. It was last amended in 1983 and its primary purpose is to protect Swiss real estate and prevent Swiss land from excessive foreign ownership. At the same time, it also still provides various options for foreign nationals to buy their own home in Switzerland.
The most decisive criteria for being eligible to buy land and property in Switzerland is a person’s nationality and whether or not they are resident in Switzerland.
If you area an EU/EFTA national and resident in Switzerland, you will have the same rights to buy property as Swiss nationals. This means that you do not need a special permit to buy property in Switzerland. The same applies to people from other countries with a C residence permit.
Third-country nationals with a B residence permit only need a special permit when buying property that will not be used as their primary residence. This applies in particular to holiday and second homes. However, they do not need a special permit to buy a self-occupied property that they will use as their primary residence and not let out.
Foreign nationals that are not resident in Switzerland are not eligible to buy property or land in Switzerland for use as their primary residence.
The only exceptions to this rule are cross-border commuters from EU/EFTA countries with a G permit, who are allowed to purchase a second home in the Swiss region where they work without needing a special permit. All other foreign nationals (EU/EFTA and third-country nationals) with primary residences outside Switzerland have to obtain a special Lex Koller permit in order to be able to buy property in Switzerland.
When it comes to buying property in Switzerland, it’s not just the Lex Koller that might make things difficult, there’s also the language barriers between buyers and sellers, and not knowing Swiss real estate law. For this reason, getting help and advice from an independent real estate expert will most definitely always pay off.
No matter whether you are looking to buy an apartment, family home or luxury villa in Switzerland, our advisors will be happy to help. And that’s not just with advice about the legal options and exceptions for buying property in Switzerland, but also by actively searching for a property that meets your needs.
Make your dream of relocating to Switzerland come true and reach out to us by phone, online or by visiting us at one of our Engel & Völkers shops any time. We’ll be happy to help!
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