The Swiss Residence Program for Individuals (SRP)
A flat annual personal income tax must be paid in order for financially independent investors to live in one of the 26 cantons offered under the Swiss Residency Program for Individuals (SRP) (conditions may vary depending on the selected canton). One of the best places in the world to live and conduct business is Switzerland. In terms of political and economic stability, security, a healthy natural environment, and low taxation, the state compares well to others.
Details of the Program
The applicant must pay an annual lump-sum (fixed) tax—which is determined for each applicant separately—in order to receive a residence permit. The issuance of a residence permit does not grant the ability to work in the nation. Rich individuals are particularly fond of this choice because it doesn’t involve a lot of time and doesn’t count toward quotas.
Program for Swiss Residency: prerequisites
The following requirements must be met: the applicant must be over the age of eighteen; they must not have an active criminal record; neither they nor any dependents listed on their application may be working in Switzerland. Nonetheless, an individual can conduct business outside of Switzerland and oversee their foreign investment portfolio from there; • The applicant must pay a specific amount of taxes annually. The annual lump-sum tax amount is determined by a number of variables, including the applicant’s living standards in Switzerland, the canton, and the municipality. The range of actual tax liabilities is CHF 250,000 to CHF 1 million annually (additional charges and regulations vary based on the canton that is chosen).
Conditions for getting a Swiss residency permit
Depending on the canton, processing of an application for a Swiss residence permit for nationals of non-EU/EEA countries can take three to six months from the date of document submission. The annual renewal of the residence permit is contingent upon meeting the qualifying standards. In most cantons, residence in the nation is required, however it is not restricted to a set number of days. For EU nationals according to the free movement agreement between Switzerland and the EU member states, EU and EFTA nationals are allowed to apply for residence permits in Switzerland in a matter of 2-4 weeks.
The Swiss Residency Program’s advantages
1. Travel to all Schengen area countries is possible without a visa if one has a Swiss resident permit.
2. Stability in politics, society, and economy.
3. Top-notch facilities and superior financial services.
4. High standard of living and excellent environmental conditions.
5. World-renowned schools and a superb education system.
6. An appealing tax structure.
7. The chance to become a citizen following ten years of residency.