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Old 20.03.2019, 21:03
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Selling Property which is bought with B permit after changing to C permit

Dear Community,

We bought a property 2 years ago when we had a B permit, and we were limited not to sell it for 6 years. Meanwhile this year we received our C permit. Does the selling rule change for us? Is there a procedure we should follow?

Thank you in advance for your responses.

Best
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Old 20.03.2019, 21:13
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Re: Selling Property which is bought with B permit after changing to C permit

Who limited you for what reason?
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Old 20.03.2019, 21:32
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Re: Selling Property which is bought with B permit after changing to C permit

Often the issue is not whether you can sell it, but whether it is sensible to wait some time before selling it.
Grundstückgewinnsteuer (property gains tax) can be very high if you sell too soon after purchase.

German: https://www.steuerverwaltung.bs.ch/s...innsteuer.html
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Old 21.03.2019, 11:58
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Hello,
We were told that in order to limit people with temporary residence permit to make profit from housing, there is a law that we cannot sell or rent it for 6 years.

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Often the issue is not whether you can sell it, but whether it is sensible to wait some time before selling it.
Grundstückgewinnsteuer (property gains tax) can be very high if you sell too soon after purchase.

German: https://www.steuerverwaltung.bs.ch/s...innsteuer.html
thank you, i will check the site!

Last edited by 3Wishes; 21.03.2019 at 21:52. Reason: merging consecutive replies
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Old 21.03.2019, 12:18
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Re: Selling Property which is bought with B permit after changing to C permit

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Hello,
We were told that in order to limit people with temporary residence permit to make profit from housing, there is a law that we cannot sell or rent it for 6 years.

You are on a C permit, that is not a temporary residence permit. But the remarks on taxes you should definitely look at.
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Old 21.03.2019, 13:45
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Re: Selling Property which is bought with B permit after changing to C permit

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Hello,
We were told that in order to limit people with temporary residence permit to make profit from housing, there is a law that we cannot sell or rent it for 6 years.
There is no such law, what however might happen is that you will be taxed on any profit you might make.
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Old 02.04.2019, 17:54
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Re: Selling Property which is bought with B permit after changing to C permit

Yes, there is "kind" of such a law. It says "if you hold a Swiss B permit (without EU national), you may purchase a property, but only to live in." So it is not allowed to sell a house and I think this is what the op meant. As soon as you have C , all limitations should be removed though. You can sell with 3 options;
1-transfer the mortgage to the new owner which buyers might not agree if the current mortgage rates are better,
2-pay off your current mortgage - you will incur penalties if you are still in the earlier years of the mortgage
3-transfer your mortgage to a new house
Also if you do any profit selling your house, most of it will go to tax if you are in the early years of ownership.
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Old 02.04.2019, 18:06
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Re: Selling Property which is bought with B permit after changing to C permit

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Dear Community,

We bought a property 2 years ago when we had a B permit, and we were limited not to sell it for 6 years. Meanwhile this year we received our C permit. Does the selling rule change for us? Is there a procedure we should follow?

Thank you in advance for your responses.

Best
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Yes, there is "kind" of such a law. It says "if you hold a Swiss B permit (without EU national), you may purchase a property, but only to live in." So it is not allowed to sell a house and I think this is what the op meant. As soon as you have C , all limitations should be removed though. You can sell with 3 options;
1-transfer the mortgage to the new owner which buyers might not agree if the current mortgage rates are better,
2-pay off your current mortgage - you will incur penalties if you are still in the earlier years of the mortgage
3-transfer your mortgage to a new house
Also if you do any profit selling your house, most of it will go to tax if you are in the early years of ownership.

Did you read the part where OP says that they have a C permit?
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Old 02.04.2019, 18:21
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Re: Selling Property which is bought with B permit after changing to C permit

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Did you read the part where OP says that they have a C permit?
but the OP says he had a B permit when the property was purchased and the restriction was due to the fact that he had a B permit at that time.


now he is asking, because he got a C permit recently, is the old restriction still valid.


cheers
happycreature
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Old 02.04.2019, 18:27
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Re: Selling Property which is bought with B permit after changing to C permit

i think there are a number of issues. in basel, you will also need to pay a stamp tax if you sell early as owner occupiers get a reduced rate. this might also be the 'restriction' referred to.

see here: https://www.steuerverwaltung.bs.ch/s...ngssteuer.html

i believe this is what you were told as it has a 6 year blocking period.
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Old 02.04.2019, 23:39
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Re: Selling Property which is bought with B permit after changing to C permit

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Yes, there is "kind" of such a law. It says "if you hold a Swiss B permit (without EU national), you may purchase a property, but only to live in." So it is not allowed to sell a house and I think this is what the op meant. As soon as you have C , all limitations should be removed though. You can sell with 3 options;
1-transfer the mortgage to the new owner which buyers might not agree if the current mortgage rates are better,
2-pay off your current mortgage - you will incur penalties if you are still in the earlier years of the mortgage
3-transfer your mortgage to a new house
Also if you do any profit selling your house, most of it will go to tax if you are in the early years of ownership.
Thank you very much. This is very helpful.
That is right, we bought the house with B permit (non EU) and now we have a C permit.
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Old 02.04.2019, 23:41
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Re: Selling Property which is bought with B permit after changing to C permit

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i think there are a number of issues. in basel, you will also need to pay a stamp tax if you sell early as owner occupiers get a reduced rate. this might also be the 'restriction' referred to.

see here: https://www.steuerverwaltung.bs.ch/s...ngssteuer.html

i believe this is what you were told as it has a 6 year blocking period.
Thank you very much for the information and the link.
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