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Old 01.04.2015, 10:34
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starting my own business

I have just recently been made unemployed and would like to look at starting my own business buying and renovating property. I have been told by UBS that they do not lend to new businesses - does anyone have any experience raising capital in CH to do this sort of thing?
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Old 01.04.2015, 10:45
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Re: starting my own business

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I have just recently been made unemployed and would like to look at starting my own business buying and renovating property. I have been told by UBS that they do not lend to new businesses - does anyone have any experience raising capital in CH to do this sort of thing?
What security can you offer ?
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Old 01.04.2015, 10:51
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Re: starting my own business

I have a property in CH and 2 properties in the UK. I also have 2 reasonable size pensions...
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Old 01.04.2015, 11:12
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Re: starting my own business

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I have a property in CH and 2 properties in the UK. I also have 2 reasonable size pensions...
If you can give a bankable security, ie one not mortgaged, the banks will lend to you.

Buying and renovating property here is not really a known concept and if the banks are going to lend you money, the results of your efforts are down to how good you are, and this the banks have no way of knowing, therefore they will require full security for any loan.
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Old 01.04.2015, 11:20
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Re: starting my own business

If you've been paying into a Pension Pot, you can release that money if your going to be self imployed.


Good luck with your (ad)venture


GREG
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Old 01.04.2015, 12:02
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Re: starting my own business

Swanny, one of the reasons that flipping properties is not very common in Switzerland is that most cantons impose a punitive tax, a 'Besitzdauerzuschlag' that taxes away most of the profit realized on the sale of properties held for a short term.

In fact, the penalty is used to specifically discourage flipping/speculative purchase.

The 'break even' point - that is, the number of years until the penalty decreases until only standard CG applies (itself nothing to sneeze at) varies by canton.

Something to consider, in case you haven't already run across this issue.
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