Annual Distribution of Golden Visas Granted to Affluent Non-Residents in Switzerland
Moving to Switzerland as a non-EU or EFTA citizen is usually a tall order, unless you have pockets that go as deep as the Swiss Alps. These folks are all about making their income, especially when it comes to finance.
There's a hidden gem of a law called Article 30 of the Federal Aliens Act, seldom spoken of except by the financially savvy. It's like a secret passageway for foreigners from third countries to settle in Switzerland – but only if they're well-off enough to live without working or relying on welfare.
The catch? To grant permits to citizens of third countries, cantons need to deem it in the "public interest," which, in this context, translates to having a large sum of money in their coffers. In such cases, cantons can hand out residency permits known as "golden visas." These visas are essentially residency based on investment in the local economy.
In 2024, Switzerland granted 496 of these golden visas, a slight increase from the previous year (92 more, to be exact) [READ ALSO: How wealthy foreigners can 'buy' Swiss residency]. Russians topped this exclusive list, with 94 of them scoring a golden visa. Chinese nationals followed closely with 51, while Britain and the US were next with 49 and 38 instances, respectively.
The cost for this privilege varies among cantons, with Zurich being the most expensive at a whopping 1 million francs. In comparison, Geneva costs roughly 313,000 francs in tax revenue per year, and Vaud sets you back 415,000 francs. If you're on a budget, Obwalden might be more your speed, as a modest 250,000 francs can get you a residency permit.
So, if you've managed to bag one of these golden visas for Switzerland, we'd love to hear your story. Email us at news@our website!
- Swiss business opportunities might attract non-EU or EFTA citizens seeking to invest, particularly in the finance sector, as Article 30 of the Federal Aliens Act provides a potential route for obtaining residency, known as 'golden visas', although this requires a substantial financial investment.
- In 2024, a total of 496 golden visas were granted by Switzerland, with the majority going to Russian citizens, followed by Chinese, British, and American nationals, each necessitating a varying amount of investment, depending on the canton.
- For instance, while Zurich requires a significant initial investment of 1 million francs, other cantons such as Geneva, Vaud, and Obwalden have lower requirements, at 313,000, 415,000, and 250,000 francs respectively.
