FAQs
Here we will collect the most common FAQ's we get, to help you answer the questions you may have faster.
I am interested in buying a property in Switzerland. Are there restrictions on who can buy?
Can I obtain a mortgage for the purchase?
Can a UK lawyer deal with this for me instead?
I am interested in buying a property in Switzerland. Are there restrictions on who can buy?
Yes. There are some restrictions on the purchase of Swiss property by non-Swiss nationals. Although these have been relaxed in recent years, as a non-resident, you will only be able to buy property in areas which grant a permit, for living in upto 6months, such as a holiday chalet in Verbier.
Do restrictions apply for commercial property?
The restrictions that apply to single residential property do not apply to the acquisition of commercial property in Switzerland, eg you can buy a hotel or a business. You will need to obtain permission before making a commercial acquisition, but in practice this is usually granted.
However it is not possible to purchase a building with residential use unless you have a Swiss residency permit.
Can I obtain a mortgage for the purchase?
Yes, you can obtain mortgage finance in the UK or in Switzerland for up to 80% of the value of the property. Interest rates in Switzerland are generally low and at present are around 3.5% for a 10 year mortgage.
Who will deal with the mechanics of the purchase?
This will need to be done by a Swiss notaire who will ensure that the purchase is legal before he proceeds. He will deal with checking that the seller actually owns the land he is selling and that you qualify to buy the land. You will pay the purchase monies to the notaire and it is only after the land has been registered in your name that the monies will be released to the seller.
Can a UK lawyer deal with this for me instead?
No, the conveyancing will need to be done by a Swiss notaire. However, we have experience in guiding British buyers through foreign purchases and our clients consider our assistance in doing so invaluable in addition to the tax advice that we offer.