Switzerland is a small country with big impact, consistently rated as a top performer within the HSBC Expat Explorer league, including the 2021 results:
- Switzerland
- Australia
- New Zealand
- United Arab Emirates
- Guernsey
When working in Switzerland for more than 90 days in a 180-day period, no visa or permit is required. However for longer work periods, the relevant permit or visa must be in place, (this is taken care of during pre-assignment preparation).
Assignees must be prepared for high prices, but also elevated salary levels compared with most countries. These factors make the expensive Swiss lifestyle accessible and enjoyable, especially given the country’s safety and security. The diverse community benefits from a good schooling system and several languages are spoken (mainly Swiss, French and German). Private healthcare is essential as no state provision exists.
An increasing number of businesses are attracted to Switzerland, especially within the financial services and insurance services sectors.
Six Business Benefits of Switzerland
1. Stability
Switzerland is a very stable country with a highly skilled workforce and very low unemployment. Several prominent global brands operate from Switzerland, including:
- Glencore International
- Nestlé
- Novartis
- Zurich Insurance Group
- Roche Group
2. Potential
Huge growth of 30.7% is forecast for the embedded finance industry in Switzerland during 2022. Embedded insurance is set to enjoy similar results. Both sectors are realising the potential of specific product development to meet client needs offered by technological advancements.
3. Tax System
In Switzerland, the same taxation rules apply to all companies, whether they are large corporations or small and medium-sized enterprises (SMEs). The 26 Swiss regions (cantons) each have their own tax laws, with some introducing tax reductions in 2022. Corporation tax rates are globally competitive, varying from 11.9% to 21% across the cantons. Income tax rates also vary between cantons and start low, at 11.5%.
4. International Trade
Switzerland has trade agreements with every country in the European Union (although it isn’t a member of the EU). Famous for its neutrality, Switzerland has Free Trade Agreements with 41 countries ensuring efficient movement of goods, people and services.
5. Local Workforce Talent
The Global Talent Competitiveness Index by INSEAD ranks countries according to global talent competitiveness. In the 2021 survey, Switzerland topped the global league. INSEAD commented: “Swiss workers are generally well-educated and multilingual with above-average international experience. They are motivated, reliable, and dedicated employees.”
6. Innovation
Swiss organisations have traditionally invested heavily in research and development, striving to enhance and optimise operations. Many research institutes are based in the country, contributing to Switzerland’s reputation as a leading innovator globally.
“Switzerland has always been a popular country for international relocations however we are seeing a growing demand,” says Sarah Huntridge from BTR International. “We have some excellent partners working in the country to ensure that relocation to and from Switzerland is as seamless and stress free as possible.”
Do you manage your organisation’s workforce mobility programme?
Does your global organisation have Swiss-based operations?
Talk to the friendly relocation experts at BTR International without obligation. Explore bespoke relocation options focused on your organisational and assignee needs.
