1. After viewing and selecting the property between the buyer and the seller's representative signed an agreement of intent, which prescribes the conditions and terms of payment. The buyer then makes a prepayment for the reservation of the object.
2. The value of property transferred to the trust account (trust account), an independent notary in Switzerland, which deals with the official registration of the transaction. In the case of a mortgage bank shall transfer the balance, according to the contract and the buyer their specified amount.
3. An independent lawyer and a representative of the seller are present at the signing of the contract of sale.
4. When received 100% of project cost from the buyer on the trust account, the notary submits an application to the municipality to amend the register of owners' rights, and the buyer becomes full owner.
5. The owner of the property transfer tax oprachivaet property rights and fee for registration in the registry. After paying the bill the municipality sends the documents to the new owner. Process since the introduction of the new owner in the register of property rights usually lasts less than 2 months.
Buying real estate in Switzerland does not entitle or basis for obtaining a residence permit. A residence permit can be obtained, for example, opening a Swiss company, or buying ready-made business.
Education in Switzerland is considered prestigious, not only among Europeans but also Americans and Russians. In Switzerland, private institutions such as boarding schools, multi-family houses, universities and business schools, we can get an education at any level: simple language, secondary education, higher education.
Students are given a temporary residence permit. Children under the age of 10 to 20 years, each year of residence in Switzerland for 2 counts: they need 6 years to obtain citizenship, while in other cases it is 12.  Additional costs when buying property in Switzerland, the buyer assumes the payment of:
- Tax on transfer of land ownership (from 2 to 5%)
- Notary fees (0,5 - 1%)
- The cost of entry into the registry of property rights (0,5%)  Expenditure on the property maintenance costs (utilities, insurance, minor repairs, expenses, concierge, etc.) are:
- For commercial real estate - 15-20% of annual income (for example, the lease area)
- For residential property - about 50 euros for a year 1kv.m
Property taxes in Switzerland.
Property tax in Switzerland is 0,2 - 0,6% and is calculated on the value of invested capital.
Property tax is 0,3 - 0,5% of the appraised value of the object. Both taxes are paid one time per year. Banks. Credits. Mortgages in Switzerland
Type of Loan
Calculation of payments can be made as to annuity and in differentiated scheme are also available for refinancing a property in Switzerland.
Borrower
Swiss and foreign borrowers who reside in Switzerland.Nonresident aliens may also acquire property in the cantons of statutory
The size of the mortgage
The minimum loan amount is 350.000 Swiss francs. The size of the mortgage is only limited by the fact that its amount can not exceed 80% of the appraised or market value of real estate (whichever is lower).
Terms
from 5 to 30 years, maximum age 70 years.
Currency
Swiss Franc
Costs
Swiss bank fees vary, but usually is around 500 francs. Costs associated with the assessment of property vary depending on size and location. Notary and registration fees amount to about 5% of property value.
Requirements for the borrower
Must be borne in mind that banks are looking at the borrower's creditworthiness and ability to repay long-term mortgage. Prerequisite for the Swiss banks is the ratio of your monthly income to the obligations of no more than 30%. Implying that the payments on consumer loans, mortgages in Russia, the other monthly payments, and payments on real estate in Switzerland should not exceed 33% of monthly income of the borrower. These percentages are not fixed and may vary depending on the requirements of the bank.
Swiss banks require proof of income. This may be information on wages, savings, investment income or rental income. However, not all lenders take into account these documents.
Insurance
Insurance purchased property is a prerequisite. As for life insurance, it is not necessary in most cases.
Score
Mortgage available for up to 80% of the appraised value of the property.
Legal issues of Swiss law
There are different tax implications and prospects that you should consider before buying property in Switzerland. There are local registration requirements depending on the amount of time you plan to live in Switzerland every year. We strongly recommend that when making real estate transactions in Switzerland to consult with professional brokers, qualified lawyers on the costs that you will incur, including the state or other, before making any transaction or refinancing the loan in Switzerland.
Completion of the transaction
At the conclusion of a transaction on your property, the buyer, in the presence of a notary, a representative of the borrower and the seller sign a sales contract. You can make a power of attorney to represent your interests. The seller sends the keys, and you become the official and legal owner of real estate in Switzerland.
An application for a mortgage in Switzerland in order to purchase real estate.
We recommend you learn about possible mortgage options before making a purchase and, perhaps, that until such time as you plan your visit to search for real estate in Switzerland. This will allow you to learn on what conditions you can expect based on your financial situation and your budget, and obtain the prior approval of the bank. |
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Buying property - Switzerland