Pension plans for expats in Switzerland

Pension planning for expats.

As an expat in Switzerland you probably have a pension fund in your home country and a pension fund in Switzerland too. Maybe you have even more different pension funds if you have lived in other countries as well.

When it comes to pension planning. You normally have two questions:

When can I retire? and how much money do I need?

As an expat with different pension funds in different countries these questions can be difficult to answer. But the positive thing about being an expat is that you can often make use of flexible and tax efficient solutions for your pension funds.

For British Expats in Switzerland (or any former resident in the UK) for example there is an interesting international pension solution called QROPS. QROPS allow you to transfer your UK private pension funds offshore. With QROPS you can avoid unnecessary British taxation on your pension funds. Meaning a good possibility to grow your funds faster and so to retire earlier.

For other (non-British) expats it is wise to verify if there are any similar tax efficient and international mobile pensions, savings or investment solutions applicable to you, to plan an guarantee the best retirement age and income for you.

Need help with your different pension funds? Want to know more about Expat pension plans? Get free independent pension advice from one of our experts.
Want to know more about your specific tax benefits and advantages?
Send your questions to expatquestions@gmail.com

News for British Expats in Switzerland

British Expats in Switzerland should be aware of their UK pension funds.

If you are living in Switzerland and planning to retire in Switzerland (or elsewhere outside of the UK), you should move your UK pension funds abroad.

If you leave your funds in the UK, and you are retiring, you will pay UK tax on your pension withdrawals. If you move your pensions offshore you only pay Swiss tax.

Also be aware of the following.
Your UK pension fund is not automatically the fund of your loved ones. In case you die, there is a heavy UK taxation of 55% for the person inheriting your money. By moving your funds outside of the UK you can avoid this and be sure that your family is well protected.

------
All individual situations are different. Get free independent pension advice from one of our experts.
Want to know more about your specific tax benefits and advantages?
Send your questions to expatquestions@gmail.com

or read more about:
Swiss property or the Swiss pension system.

Vaud Tax 2011-2012

Taxation in Vaud

Tax in the Swiss Canton Vaud can now be declared online (in French)
For this you have to download VaudTax 2011 and install it on your computer.

Remember to fill in your Vaud tax return before the 15th of March.
In case of any delay you have to send a written request including the reasons for your delay to get a 'prolongation du delai'. 

--
All individual situations are different.
Want to know more about your specific tax benefits and advantages?
Send your questions to expatquestions@gmail.com

Tax in Switzerland - Swiss Tax help

Swiss taxes are levied at the Federal, Cantonal and local level. Each Swiss Canton sets its own tax rates.
Tax in Switzerland offers a lot of possibilities but tax matters are getting complex rather quickly.

If you have general questions about corporate tax in Switzerland, Swiss income tax, Swiss inheritance tax etc. Don't hesitate to send in your questions to expatquestions@gmail.com
If we are not able to help you right away, we will forward you to a suitable English speaking Swiss Tax adviser in your region.
   
--
All individual situations are different.
Want to know more about your specific tax benefits and advantages?
Send your questions to expatquestions@gmail.com

Income Tax in Switzerland

Income Tax in Switzerland in general is very reasonable. Compared to other countries worldwide, the impact of taxation in Switzerland is very low. Income tax in Switzerland rarely exceeds 30%.

For example the income tax rate for someone living in Geneva with a gross salary of 150,000 USD ranges from 21,3% to 27,5% depending on marital status.

However income tax in Switzerland varies between cantons and even cities. So the income tax you have to pay depends greatly on where you live.

How much income tax do I pay?
As a first indication you can use the income tax calculator provided by the Swiss Federal Government.

More info on MOVING to Switzerland! 

------
All individual situations are different. Get free independent tax advice from one of our experts.
Want to know more about your specific tax benefits and advantages?
Send your questions to expatquestions@gmail.com

or read more about:
Swiss property or the Swiss pension system.

Moving to Switzerland?

Moving to Switzerland?
You have questions about Swiss Taxes, your net income, costs of living, insurance costs etc.
Feel free to send in you questions to
expatquestions@gmail.com

Buying Swiss Property, How much can I afford

In Switzerland, it is usually necessary to place a deposit of 20% of the house purchase value, although in certain circumstances it is possible to bring a deposit of only 15%. In neighbouring France, by contrast, it is possible in certain circumstances to borrow up to 100% of a property’s value, although usually a 10% deposit will be required.

The amount you can borrow will depend largely on your income, and typically this will be calculated on the simple basis that one third of your total monthly income can be used to service the mortgage.

Income from rental can be taken into consideration, although this will normally be accepted at a maximum rate of 80 percent of the actual rental income received.

In both Switzerland and France there is a wide range of potential lenders available, offering different conditions and range of interest rates.

In addition, residents of Switzerland or neighbouring France can use their Swiss pension capital from their second or third pillar pension schemes as a form of deposit (by withdrawal or pledge), although there are restrictions on the subsequent sale of the property and tax implications with this approach which need to be carefully considered.

More about Swiss Property regulations
Thinking of buying in neighbouring France

-------
Your question answered for free?
Send your questions to expatquestions@gmail.com