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Old 25.11.2019, 16:17
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Keeping my ISA (UK) while being resident in Switzerland

Hi all!

I'll be relocating to Switzerland from the UK in the next couple of months and I have started to gather all my departure information, specially all related with finances and investment.

I currently hold a stock and shares ISA with a UK provider and I requested further information on how to best operate once I relocate to Switzerland. From UK perspective they are happy to keep it active as far as I don't make any contributions while I am a non-UK resident. Good

The question is now, how the ISA would be treated under Swiss tax law, and whether this would generate taxable liabilities for me

Anyone could enlighten me on this at all?

Thanks
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Old 25.11.2019, 23:15
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Re: Keeping my ISA (UK) while being resident in Switzerland

At the very least it probably counts as part of your worldwide wealth, for wealth tax in Switzerland.
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Old 26.11.2019, 11:07
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Re: Keeping my ISA (UK) while being resident in Switzerland

I kept my UK ISA after arriving here.

Indeed, you can keep it, but not add to it.

It is taxable in Switzerland like any other assets. Tax on dividends and wealth tax, just like any brokerage account / savings account.
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Old 26.11.2019, 12:44
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Re: Keeping my ISA (UK) while being resident in Switzerland

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I kept my UK ISA after arriving here.

Indeed, you can keep it, but not add to it.

It is taxable in Switzerland like any other assets. Tax on dividends and wealth tax, just like any brokerage account / savings account.
Thanks!

Let's say I've got 20.000 (net contributions) in the ISA, the current market value is 25.000. Will I have to pay tax on the gains (5.000)? Or the gains that occur from the day I become Swiss resident onwards?
Ta!
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Old 26.11.2019, 15:29
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Re: Keeping my ISA (UK) while being resident in Switzerland

Quote:
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Thanks!

Let's say I've got 20.000 (net contributions) in the ISA, the current market value is 25.000. Will I have to pay tax on the gains (5.000)? Or the gains that occur from the day I become Swiss resident onwards?
Ta!
You don't pay any capital gains tax here.

You will pay tax on dividends received after arriving in Switzerland.

You'll also pay wealth tax on the total value of your wealth on 31 Dec of each year.

This all of course requires you to declare your assets. For that, there are many posts here on how it works. It's all simple and straightforward in my experience.
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