Real Estate in Switzerland and Europe
Elite-Concierge Company carries out individual selection of the residential and commercial real estate objects both in Switzerland and in Europe. We conduct legal assistance of all transactions, perform tax planning and provide consultative support at any cooperation stage.
Residential Real Estate
Switzerland is one of the most popular places for real estate purchasing in Europe. To buy the real estate object in Switzerland, particularly, an isolated house, a cottage, a chic villa, an apartment and a suite isolated from the whole world is the aim of many representatives of the aristocratic apex from different countries worldwide. The persons interested in the Swiss real estate purchasing are mainly show-business stars, millionaires, bankers, writers, members of the aristocratic families as well as many others.
The purchase of the real estate by the foreigners in Switzerland is strictly regulated by the law “On the limit of acquisition rights for purchase of the land plots by foreign citizens”.
Procedure of residentiale Real Estate acquisition :
1. Object selection and reservation
On selection of the real estate object, it must be reserved. It means that you have to place a certain amount (from 10 to 20% of the object cost on average) as a mortgage to the account of a notary.
2. Purchase and sale agreement conclusion
The real estate deals in Switzerland are subject to notary certification. A notary bears full responsibility for legality and clarity of the deal. The Agreement on purchase and sale is usually prepared during 2 to 3 weeks.
3. Ownership rights accession
After signing of the real estate sale and purchase agreement, its originals are sent for registration to the Register of properties. This procedure lasts from 1,5 to 3-4 months.
After the quota receipt the notary issues an invoice for inpayment of ownership change tax, the tariff for object registration in the Register of properties, and the service fee. After payment of all duties a customer becomes the real estate legally competent owner.
Commercial Real Estate
The limitations on commercial real estate acquisition by foreigners in Switzerland envisaged for residential real estate purchase do not apply. Any foreigner may freely purchase the commercial real estate object, such as an office, a warehouse or trade premises, various hotels and restaurants, and freely sell it later in the similar way.
Absence of the special permission for purchase of the commercial real estate object, subzero rates of the bank deposits (1%) and very low rates of the mortgage crediting (2-3%) raise permamently strong interest of foreign investors. Adding reasonable taxation to the above mentioned factors makes clear the desire of multiple foreign companies and physical persons to buy commercial real estate objects in Switzerland.
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