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Old 08.04.2008, 19:45
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If you buy a property, can you rent it later?

I heard from a friend that if a foreigner buys a property in Switzerland, they cannot rent it out if they leave the country. Is this correct?

I'm sure I've heard elsewhere that this is not the case, but just want to check that an EU citizen will be free to rent out their property should they leave Switzerland.

I'm currently buying a house, and while I plan to stay here for a few more years it would be good to know that I won't be forced to sell should I leave....

Thanks

Patrious
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Old 08.04.2008, 20:54
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Re: If you buy a property, can you rent it later?

My understanding is that if you leave Switzerland & are non-resident you cannot rent your place out on an annual basis as an owner is supposed to use his property for 3 weeks a year minimum
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Old 08.04.2008, 21:23
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Re: If you buy a property, can you rent it later?

This depends on the Kanton. I would ask your solicitor. We were asked to confirm to the notar before signing the contract that house was for us to live in.

In Zug, our solicitor confirmed that we couldn't rent the house out until we had C-Permits. You still need to apply for permission as well.

Credit Suisse issued a real estate info booklet a few years back that said what Kantons allow foreigners to buy investment property to rent out. I will try and find this.
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Old 09.04.2008, 12:11
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Re: If you buy a property, can you rent it later?

Thanks for the answers so far. I have done some more checking on this, and in Canton Vaud at least this seem to be the situation ...

I've been told by both my mortgage advisor at UBS, and also by the Credit Suisse mortgage hotline that it should not be a problem to rent out the house should I move abroad, as I am buying it when domiciled in CH, with a permit B and am an EU citizen. I think the situation may be different if the property is originally purchased be someone living outside of Switzerland, when there is an obligation to live in the property for at least 3 weeks per year - meaning that it can't be rented out on an annual contract.

Accordingly as far as I can make out, the key distinction is whether you've living in CH with a permit B/C or not at the time you buy the property as to whether you can rent it out later on an annual basis.

If anyone else has any alternative views, then please let me know.

Patrious
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Old 09.04.2008, 12:28
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Re: If you buy a property, can you rent it later?

I bought an apartment (2006) and then rented it out (I am EU/B Permit). For UBS it seemed to be a little uncommon, but in no way was a legal problem. Renting it was clearly established from the beginning. It could be Kt. Zurich is different. Also, I never used a solicitor and do not speak German.
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Old 09.04.2008, 12:48
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Re: If you buy a property, can you rent it later?

I have been told by ZKB bank that it is no problem to rent your property out as long as you fulfill following two conditions:

- To be domiciled within Switzerland

- To increase the initial deposit of 20% to 35%.

That mean if i leave Switzerland, i have to sell the property within two years of time. This is the case of Zürich canton.

Last edited by Greenhill; 09.04.2008 at 13:20. Reason: typo
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Old 09.04.2008, 13:05
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Re: If you buy a property, can you rent it later?

Think this will vary on Kanton/Gemeinde. Basically in Affoltern am Albis you need to have a C permit to rent.
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Old 09.04.2008, 19:37
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Re: If you buy a property, can you rent it later?

I think things are different in Vaud. I have not checked with a notaire yet, but have now heard from 3 different people at CS and UBS that there is no law preventing you from indefinately renting out a property you have purchased whilst living in Switzerland after you leave the country (and clearly are no longer domiciled in CH and no longer have a residence permit).

Patrious
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Old 12.04.2008, 18:54
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Re: If you buy a property, can you rent it later?

I heard also from UBS and postfinance that I (EU B permit holder) am free to rent out the property I purchased to live in after I leave Switzerland. Both parties pointed out I should not be buying now with the intention of doing so as this is not in the terms of the contract i.e Owner occuppied.
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Old 21.12.2010, 21:41
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Re: If you buy a property, can you rent it later?

Can I ask - If I buy a property in Zurich Canton on non EU B permit. Can I rent it out after I leave Switzerland?

Thank you
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