Go Back   English Forum Switzerland > Help & tips > Finance/banking/taxation  
 
Thread Tools Display Modes
  #1  
Old 30.08.2020, 11:30
Newbie
 
Join Date: Aug 2020
Location: Zürich
Posts: 2
Groaned at 0 Times in 0 Posts
Thanked 0 Times in 0 Posts
MiquelM has no particular reputation at present
Tax consultation help - Selling my investments in other countries in my first year

Hi all,

This is my first message, but I have been reading the forum for almost a year since we started planning to move here. Always super useful!

So, I have some money invested in the Netherlands (where I lived before) and I am thinking it might be a good idea to sell it this year in order to save on taxes.

Basically, I left my job in the Netherlands in February and I have stayed without working until August when I started working here in Switzerland (living in Zürich). Since this year I did not work for half a year, I was thinking that it might be more advantageous to sell my funds now so I avoid paying higher taxes. Does someone know if that is true? I also would like to simplify my investments so the sooner I can sell everything and bring it to Switzerland, the better. I know in principle you don't pay taxes for capital gains in Switzerland, but I am wondering how that applies to people that have just moved here and that had investments abroad before.

If the item is a bit complex, I am also willing to pay for a meeting with a tax advisor to clarify the issue. If so, could you let me know how much I can expect to pay and if you have any recommendations on an English-speaking tax advisor?

Thanks a lot!
  #2  
Old 30.08.2020, 11:35
fatmanfilms's Avatar
Forum Legend
 
Join Date: Apr 2010
Location: Verbier
Posts: 21,378
Groaned at 460 Times in 352 Posts
Thanked 23,089 Times in 11,824 Posts
fatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond repute
Re: Tax consultation help - Selling my investments in other countries in my first yea

Quote:
View Post
Hi all,

This is my first message, but I have been reading the forum for almost a year since we started planning to move here. Always super useful!

So, I have some money invested in the Netherlands (where I lived before) and I am thinking it might be a good idea to sell it this year in order to save on taxes.

Basically, I left my job in the Netherlands in February and I have stayed without working until August when I started working here in Switzerland (living in Zürich). Since this year I did not work for half a year, I was thinking that it might be more advantageous to sell my funds now so I avoid paying higher taxes. Does someone know if that is true? I also would like to simplify my investments so the sooner I can sell everything and bring it to Switzerland, the better. I know in principle you don't pay taxes for capital gains in Switzerland, but I am wondering how that applies to people that have just moved here and that had investments abroad before.

If the item is a bit complex, I am also willing to pay for a meeting with a tax advisor to clarify the issue. If so, could you let me know how much I can expect to pay and if you have any recommendations on an English-speaking tax advisor?

Thanks a lot!
Switzerland has no CGT, so it's just a matter of not having a tax liability where you used to live. No requirement to bring the money to CH, it makes no difference where your investments are held.
The following 5 users would like to thank fatmanfilms for this useful post:
  #3  
Old 30.08.2020, 11:50
aSwissInTheUS's Avatar
Forum Legend
 
Join Date: Nov 2007
Location: Zurich area
Posts: 12,783
Groaned at 99 Times in 88 Posts
Thanked 19,576 Times in 8,681 Posts
aSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond repute
Re: Tax consultation help - Selling my investments in other countries in my first yea

Switzerland does not care where your assets are. All worldwide income (minus some expenses) and all worldwide assets (minus debts) are taxable. From the Swiss point of view there is no tax advantage in selling them and "bringing" it to Switzerland.
  #4  
Old 31.08.2020, 06:41
Newbie
 
Join Date: Aug 2020
Location: Zürich
Posts: 2
Groaned at 0 Times in 0 Posts
Thanked 0 Times in 0 Posts
MiquelM has no particular reputation at present
Re: Tax consultation help - Selling my investments in other countries in my first yea

Thank you both! :-)
 




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Selling my 14-year old imported car NomadOlive Transportation/driving 9 18.07.2020 02:51
Health insurance if you live in 3 different countries during the year? Capo Insurance 22 11.09.2017 17:26
HR Consultation Zug Zsolt_i Employment 2 03.09.2012 22:02
Selling Swiss vehicle in other countries (DE, FR ..IT) MaxMan Transportation/driving 0 16.07.2011 16:57
Travelling from CH to EU countries on a year long L student permit daredevil Permits/visas/government 2 20.07.2010 13:20


All times are GMT +2. The time now is 01:57.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0