Switzerland is known worldwide for its exceptional quality of life, breathtaking landscapes, and thriving economy. It’s no wonder that many individuals dream of making this country their permanent home. Obtaining permanent residence in Switzerland is a significant step toward enjoying this country's numerous benefits, from economic stability to cultural diversity.
Businesses operating or aspiring to operate in Switzerland must stay updated about its evolving culture, regulations, and economy. Understanding these changes allows you to adapt your business strategy proactively and succeed in the Swiss market. Read to learn some of the recent shifts in taxation, immigration policies, industry regulations, and consumer behavior
From January 1, 2020. The Swiss Financial Institutions Act (FinIA) and the Swiss Financial Services Act (FinSA) entered into force, updating the regulatory regime for trustees working in Switzerland. This means that all independent portfolio managers (PMs) and trustees subject to supervision under FinIA will have to be supervised by a Supervised organisations (SO) authorised by FINMA and get licensed by FINMA before they can be able to carry out their activities as financial intermediaries in Switzerland.
The Swiss economy is, according to the ratings made by international specialized institutions, among the most competitive, innovative and liberal. The main features that give Switzerland a privileged business environment, tailored to high- quality products and services are the excellent level of security offered by business law, long-term stability of the investment framework, full guarantee of property rights, fair competition, and banking secrecy.
If you are not a Swiss citizen, you need a Swiss residency permit to live in Switzerland for a period longer than 3 months. A tourist visa will only allow you a 3-month stay. There are various types of permits and different ways to get them—it all depends on what you want to do in Switzerland.
With a stable economy, Swiss unemployment rate is one of the lowest in the world, standing at 3.7 percent in January 2017, with average unemployment typically lower in German-speaking Switzerland (3.1 percent) than in French and Italian-speaking Swiss cantons (5 percent).
The Swiss voted to pass a law permitting third generation immigrants to obtain Swiss citizenship much simpler and quicker, on the referendum undertaken on February 12 2017.
If you want to live and work for long term in Switzerland, you can apply for Swiss citizenship. This will not only help in terms of tax incentives, but allow you better access to the facilities provided by the Swiss government through various special programs. . Before applying for Swiss citizenship, there are a number of pertinent elements you should fulfil.
Contrary to popular belief, purchasing real estate in Switzerland, particularly a house or a commercial property is quite difficult. The Swiss real estate market is strictly regulated. Owning a house in Switzerland is not something, considering more than 60% of the people living in the country usually rent their residence.
A quarter of the staff employed in Switzerland is made up of foreigners. They are the holders of a work permit and a residence permit. For foreigners who want to invest and operate their own business in Switzerland or managers of foreign companies, especially those firms generating jobs, getting the residence permit and the work permit is not a problem.
