Why Invest?
The parameters of the Swiss economy are comparatively attractive for foreign investors as compare to other European countries: very low interest rates, low inflation, very high productivity, prospects of economy in growth. Switzerland is also one of the richest nations in the world and thus offers a highly aggressive market with strong purchasing power.
Market Report
We forecast that the Swiss real estate prices will continue to rise in 2007 and 2008. Strong economic growth and population movements have a positive effect on demand for space and more and more foreign investors are emerging on the market. We therefore expect 2007 to be a good year, similar to 2006, with some submarkets seeing even better performance.
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Economic Overview
Switzerland is a prosperous and stable modern market economy, with a per capita GDP that is higher than those of the big western European economies. For much of the 20th century, Switzerland was the wealthiest country in Europe by a considerable margin.
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Visa/Residency Issues
Switzerland does not use the terms "work permit" or "residency visa" as used elsewhere in Europe. The very tightly controlled Swiss residence permit is a combination residence visa and work permit. This official Swiss Federal Government document states that you have a job with a Swiss employer or have been granted permission to live in Switzerland.
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Getting to Switzerland
Switzerland is a small multi-cultural, multi-lingual country located at the very heart of Europe. Switzerlands main international airports of Zurich and Geneva are among the most modern in Europe and are served by the leading airlines of the world. Both airports are linked to the nations rail network. Smaller international airports are located in Basel, Berne and Lugano.
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Fees & Taxes
- Swiss tax rates for companies and individuals are among the lowest anywhere in Europe. Corporate taxes are approx. 16-25%, while individuals are taxed at rates between 5% and 20%. A careful choice of corporate structure can even push the effective rate of taxation to below 10%.
- Tax on capital gains on real estate is 3-64%.
- Real estate transfer tax (abolished in some places) 0.8-3.3%.
- Switzerland has by far the lowest value added tax (VAT) anywhere in Europe. Regular VAT is 7.6%. Hotels are taxed at 3.6%, and necessities/convenience goods at just 2.4%. Other goods and services, such as medical care and education, are completely exempt from VAT.
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Switzerland
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Basic Information
| Population |
7,507,000 (2006) |
| Languages |
Swiss German, French, and Italian |
| Area |
41,284 sq km |
| Currency |
Swiss franc (SFR) |
| Dialing Code |
+41 |
| Emergency Services |
118 |
Switzerland Overview
Switzerland (German: die Schweiz, French: Suisse, Italian: Svizzera, Romansh: Svizra), officially the Swiss Confederation, is a landlocked alpine country in Central Europe. This small multilingual country, of a little over 7 million people, has four national languages, German, French, Italian, and Romansch, yet the first, German, is only written or used for formal situations, and several variants and dialects are spoken commonly, and collectively are named as "Swiss German". It is bordered by Germany, France, Italy, and Austria & Liechtenstein.
Average Property Prices
Coming Soon......
Buying Process
- Only individual foreigners or groups of foreigners may acquire property in Switzerland.
- Property cannot be acquired by foreign companies or Swiss companies with over 30%foreign ownership. Also foreigners will not normally be permitted to buy more than one property in Switzerland.
- The process of acquiring property in Switzerland is quite straightforward.
- The first step in the process is to sign an agreement to buy the property (a Promesse de Vente) drawn up by the notary, and to pay over a deposit, usually 10% of the purchase price. The agreement is conditional on permission for the sale to the foreigner being granted by the Commission Fonci¨re.
- It usually takes about eight weeks to gain permission to buy, but the process can sometimes take up to three months (usually toward the end of the year) especially if the annual quota has been used up.
- When buying new properties, the purchase price is usually payable in stages, which are specified in the purchase agreement.
- The purchaser will either need to appear in person before the notary for the document signing or give someone else power of attorney by means of a Procuration drawn up by the notary.
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