A person abroad can purchase without authorisation an accommodation (only one!) as his/her main residence (he/she must live in the property, all letting is forbiden) if he/she is a B permit holder.
Requests and information demands must be addressed to:
Direction des affaires juridiques du département de l'économie, de l'emploi
et des affaires extérieures (DEEE)
14, rue de l'Hôtel-de-Ville
Case postale 3952
1211 Genève 3
Tel. +41 22 / 327 23 08
Fax +41 22 / 327 23 60
http://www.geneve.ch/deee/contacts/welcome.asp
Financing the purchase of an accommodation is usually a mix of personal funding and a mortgage (20% of personal funding for 80% mortgage most of the time in Swizterland). Personal funds can come from savings, family or other loans, settlement, and also from a mecanisme of purchase allowance.
There are several light mecanism (federal and cantonal) in order to help the purchase. The most frequent comes from the federal law to encourage the purchase of the accommodation thanks to professional savings (2e pilier) that assess that an employee can use his/her "avoir de libre passage" in order to purchase his/her property. Funds can be obtained by anticipated settlement of the capital with a guarantee on the professional funds (avoir de libre passage). It is mandatory to be the main residence, and not a secondary accommodation.
This is a loan from a bank or an insurance company and guaranteed by a property.
There are 2 type of mortgages:
After the agreement of purchasing/buying the property, the purchaser will pay the seller a deposit worth about 10% of the value of the accommodation.
In most of the cases, fees are about 4% of the price, including 3% in tax, 0.3% for legal registration fees in the Registre Foncier, and 0.7% in sollicitor fees.
We recommend to get advise when buying a property. You can contact: