Since the establishment of the Bilateral Agreements between Switzerland and the European Union, citizens from the EU residing in Switzerland for profit – making purposes, have a legal claim to the access to the Swiss labor market, given that all the required legal conditions are met. The agreements also apply to the states that are members of the European Free Trade Association.
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 new year, 2020 has brought with it a raft of new laws and changes 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.