Hi,
I am Vikram Bhardwaj from Dubai, I am from India but living and working in Dubai for past 12 years.
I am having a small investment Plan in-order to buy a 02 Bed Room Apartment in a Chalet in any of the Canton in Switzerland to further use it as Holiday Home on Short Terms Basis. Basically for the Tourist from other Countries like India and Middle East basically, Honey Moon Travelers and Family
For this I would like to setup a small Sole Owner Company in Switzerland, where i can operate my business on logistical terms.
I would like to have Suggestions and Views from the fellow Users of this forum:
1. if at all this business Idea is fruitful enough on long term basis, as it involves my investment.
2. Being a Non EU National and being an Indian how easy or difficult to establish my dream in Switzerland
I am really looking forward for all the views and comments based on which my major decision and its implementation will take some SHAPE.
Thanks / Vikram
Don't want to be a damp squib, but the answer is almost zero chance of doing this.
1. Only a small proportion of holiday homes have permits to allow non-residents to buy them and after the vote on the second home initiative a few years ago, no more permits are being issued
2. Even if you do find a place you can buy, you can't set up a sole tradership in Switzerland without being resident, as the sole tradership is vested in your person and your physical presence, with all the issues that would involve for a non-EU citizen. You could, however, potentially set up a sole tradership where you are living (subject to their rules)
3. Even assuming you can get past 1 and 2 above, how would you manage it? Who would hold the keys, do the cleaning etc.?
4. And 4, given the seasonality, it would likely only cover its costs and give you pocket money in any case
If you want somewhere you, your family and friends can use, with the odd week on AirBnB, that might be possible providing you can overcome number 1 above.
If you want to use it as a serious investment vehicle delivering ongoing income, I'd say forget it. Even in terms of capital growth, you would do far better to look elsewhere
Hi this is really a eye opener...the way you brought forward various hurdle and challenges which i am going to face ....
I have gone through the process of buying a property in Switzerland where i have seen there are plenty of second homes available but as you rightly pointed out that its difficult. I should be ready to apply for desired home with in the QUOTA of 1500 Holiday Homes (Per Year) as per SWISS GOVT. Rule
I would still like to face challenges on the basis of my Investment Plan, I would like to try my luck I am sure I will be able to establish a company if not as Sole Proprietor may in partnership.
As a Pre-Requisite I should be having Permit B or L in order to start my business in Switzerland which entitles me to apply for Residence Visa for Switzerland as told by one of the lawyer's based in Zurich.
Yes your point is quite alarming for me as far as earnings are concerned which needs to be more RESEARCHED by me further....currently i know that CHF 100 to CHF 160 per day Rent both Season and NON - Season are going on the various Holiday Home Online Sites like AIRBNB etc.
Yes Managing the property I have to definitely employ couple of people locally to manage ...
Also the Markets which i am targeting India and Middle East, have a very huge flow of Tourist to Europe and Mainly Switzerland. also the concept which i am going to work on is Family and Honey Moner's who really need peace of mind and place like a Chalet Apartment to enjoy holidays...and Switzerland WAS, IS and WILL REMAIN a HOT selling destination as far as INDIA and MIddle East is Concerned. And when it comes to selling a Chalet Accommodation combining it with various other facilities, like food, transportation, travel and touch of personal care will get me GOOD RETURNS i am sure..
I have experienced all this last year in JULY 2018 when i stayed in Saanen in a beautiful Chalet for 10 Days with my Family.
I am really really thankful for your critical analysis....I really need more such inputs if you can please comment me back after reading my bit of research work i have done and mentioned above
Getting that is one of the main hurdles. And then it is not always granted that you can be self employed.
Skip the $$$ signs as the income may seem high but your costs here as well.
It is certainly possible to own and run a Swiss business from abroad, in fact in your case that would be the default assumption and your company would have to meet all the usually requirements in order for you to get a permit and become resident here. And no, needing to be here to run the business is not a valid reason, that is what managers are for.
So if your objective is to become a Swiss resident in this way, then for all practical purposes this is a non starter.
NO...I my intentions after investing my life savings is to run and become successful in my own business ...Travelling is in my blood i just can't settle down at one place ...
I don't need RESIDENCY in Switzerland at FIRST INSTANCE ...but if it is a necessity to establish my business then yes i'll do anything for my business...
I have been in Dubai for past 12 years its a TAX Free Country, i belong to an international community ...so for me merely just going for Residence in Switzerland is not my intention at all