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Old 03.07.2019, 18:04
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Buying a home in Switzerland on mortgage while living in US

Has anyone bought home in CH while working and paying tax in US (For someone who both holds C permit and US green card)? What was your experience like, was it problematic? Do you have to pay any tax to US?
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Old 03.07.2019, 18:27
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Re: Buying a home in Switzerland on mortgage while living in US

Just to clarify: Are you still officially resident in CH? Or did you de-register?

And, are you EU or Non EU?

The above goes to mortgage issues.

(The (potential) US tax pain generally comes later, when you sell property abroad, as Uncle Sam considers it both a (potential) capital gain and a currency trade. Assuming, of course, you are still subject to US tax at the time of sale.)
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Old 03.07.2019, 20:34
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Re: Buying a home in Switzerland on mortgage while living in US

Yes I have still my C permit. I work some percentage here from distance. I am also non -EU
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Old 05.07.2019, 10:37
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Re: Buying a home in Switzerland on mortgage while living in US

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Just to clarify: Are you still officially resident in CH? Or did you de-register?

And, are you EU or Non EU?

The above goes to mortgage issues.

(The (potential) US tax pain generally comes later, when you sell property abroad, as Uncle Sam considers it both a (potential) capital gain and a currency trade. Assuming, of course, you are still subject to US tax at the time of sale.)

Yes I am still officially resident in CH and I am non -EU.
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Old 05.07.2019, 10:44
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Re: Buying a home in Switzerland on mortgage while living in US

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Yes I am still officially resident in CH and I am non -EU.
So you are living here and working remotely from Switzerland for a US company?
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Old 05.07.2019, 10:52
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Re: Buying a home in Switzerland on mortgage while living in US

There could be challenges, given your unique situation.

Have you talked to any of the banks/insurance companies about getting a mortgage. To me that would be the first step.

Some banks do not want any involvement with US citizens/residents.
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Old 05.07.2019, 11:20
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Re: Buying a home in Switzerland on mortgage while living in US

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So you are living here and working remotely from Switzerland for a US company?

No, indeed I have a job in US but I work one day per week from US for a Swiss company (distance working).
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Old 17.07.2019, 15:41
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Re: Buying a home in Switzerland on mortgage while living in US

Ok Just an update: Two of the Swiss banks refused the mortgage for holder of U.S greencard. Is there any bank that is more US resident friendly?
Do you see any other difficulties regarding tax in US or CH?

P.S: I am asking this question on behalf of a friend.
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Old 17.07.2019, 15:54
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Re: Buying a home in Switzerland on mortgage while living in US

Better to try a mortgage broker, moneypark.ch or similar.
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Old 17.07.2019, 20:50
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Re: Buying a home in Switzerland on mortgage while living in US

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Ok Just an update: Two of the Swiss banks refused the mortgage for holder of U.S greencard. Is there any bank that is more US resident friendly?
Do you see any other difficulties regarding tax in US or CH?

P.S: I am asking this question on behalf of a friend.
Not really, banks don't want the hassle of U.S. reporting. If you're resident in the U.S. and not here, I can't see any bank that would want to help.

As for difficulties, hire a professional familiar with the U.S. tax system.
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Old 17.07.2019, 21:00
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Re: Buying a home in Switzerland on mortgage while living in US

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P.S: I am asking this question on behalf of a friend.
Does your friend want to buy a house too?
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Old 17.07.2019, 21:36
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Re: Buying a home in Switzerland on mortgage while living in US

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Ok Just an update: Two of the Swiss banks refused the mortgage for holder of U.S greencard. Is there any bank that is more US resident friendly?
Do you see any other difficulties regarding tax in US or CH?

P.S: I am asking this question on behalf of a friend.
UBS and Credit Suisse are your only 2 options.
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Old 18.07.2019, 11:04
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Re: Buying a home in Switzerland on mortgage while living in US

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Does your friend want to buy a house too?

Actually it is my friend who wants to buy an appartement in Switzerland. and He has both Swiss permit C and greencard holder in US but also works 10% for a Swiss company. Is it a good idea? since I think your mortgage interest will be deducted from you income tax in CH, so if you work only 10% here you won't pay much tax which means almost no benefit from tax deduction. is it right?
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Old 18.07.2019, 13:09
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Re: Buying a home in Switzerland on mortgage while living in US

Don't forget that he will need to declare his worldwide income to find the tax level for his "Eigenmietwert" and wealth tax.
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