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jojo 10.01.2007 15:26

laywers & property advice
 
Hi,
can anyone recommend an English speaking lawyer in lake geneva region .

I`ve also been given some conflicting advice about how much one can buy as a foreigner who is a swiss resident - permit B. We are looking at buying a building with several apartments. I read that as a Permit b holder I could buy basically the same as a Swiss person. However have just spoken to the estate agent who is selling the property, she is not sure and thinks I may have to have a permit C.? If we set up a Swiss business to buy it would this work?

any advice please? _ I will obviously take professional advice when I find a lawyer!
Joan

Richard 10.01.2007 16:34

Re: laywers & property advice
 
Quote:

Originally Posted by jojo
Hi,
can anyone recommend an English speaking lawyer in lake geneva region .

I`ve also been given some conflicting advice about how much one can buy as a foreigner who is a swiss resident - permit B. We are looking at buying a building with several apartments. I read that as a Permit b holder I could buy basically the same as a Swiss person. However have just spoken to the estate agent who is selling the property, she is not sure and thinks I may have to have a permit C.? If we set up a Swiss business to buy it would this work?

any advice please? _ I will obviously take professional advice when I find a lawyer!
Joan

As an EU citizen and a permanent resident in Switzerland there are no restrictions on property purchases within Switzerland. For tax reasons however you might find it beneficial to purchase the property as a business if you are intending to rent out several apartments. Having the business will only cost you the set-up fee as there will clearly be no capital requirement and additionally you can then offset all manner of things against the income it generates which of course reduces the tax liability. Sorry I cannot recommend any lawyers in the French speaking part of Switzerland...

JPH 11.01.2007 10:55

Re: laywers & property advice
 
Hi jojo,

I cannot advice on a lawyer, but I am also looking at buying a building with several apartments but around the zurich region and would be interested to have a chat with you about what your doing. We have now purchasing 2 houses with B permits and have had no problems. My Accountant has also explained there are no problems with purchasing further properties and it would possible be better done under a company structure. If you can register a company here you can buy the property.

How old is the building? Have you checked out the building structure, boilers, cracks, general aging to make sure it's not in need of a lot of money in the short term. I have heard a few bad stories. Also ensuring finance and cash flows are good.

Also there is little need for a lawyer as the notar looks after the transfers, even with a building.

Cheers,
JPH


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