International buyers guide
A complete guide to the Swiss property acquisition process — from Lex Koller permits to completion.
Switzerland has long been the preferred destination for international buyers seeking a combination of political stability, legal certainty, fiscal predictability, and exceptional quality of life. The Swiss property market — and St. Moritz in particular — attracts buyers from across Europe, the Middle East, Asia, and the Americas, drawn by the resort's unique position as the world's original luxury alpine destination.
The acquisition process for international buyers in Switzerland is well-defined and, with the right advisory support, straightforward. The principal regulatory framework is the Lex Koller law, which governs the purchase of residential property by non-resident foreign nationals. Our team has guided international clients through this process for over a decade.
Full international buyers guideRegulation
The Lex Koller (Federal Act on the Acquisition of Real Estate by Persons Abroad) is the primary regulatory framework governing property purchases by non-resident foreign nationals in Switzerland.
Non-resident foreign nationals — those who do not hold a Swiss residence permit (B or C permit) — require a Lex Koller permit to purchase residential property in designated tourist areas, including St. Moritz. EU and EFTA nationals resident in Switzerland are generally exempt.
Each canton is allocated an annual quota of permits for non-resident foreign buyers. In Graubunden, where St. Moritz is located, the quota is managed by the cantonal authority. Permits are available but limited; early engagement with the process is advisable.
Properties acquired under a Lex Koller permit must be used as secondary residences for personal use. Commercial rental is not permitted. The property may not be subdivided or used for business purposes without separate authorisation.
When a Lex Koller property is resold to another non-resident foreign national, a new permit application is required. Resale to a Swiss national or a resident foreign national is unrestricted.
Process
A typical property acquisition in St. Moritz for an international buyer follows six stages. Our advisory team manages each stage on your behalf.
01
We assess your requirements, budget, and timeline; confirm your Lex Koller eligibility; and identify suitable properties from both the open market and our off-market network.
02
We present a curated shortlist and arrange private viewings. For off-market properties, we facilitate direct introductions to owners with full discretion on both sides.
03
We advise on pricing, negotiate on your behalf, and structure the offer to reflect current market conditions and the specific characteristics of the property.
04
We prepare and submit the permit application to the cantonal authority in parallel with the purchase contract. Typical processing time is 4–8 weeks.
05
We coordinate with your legal counsel and the notary on title review, encumbrance checks, and contract preparation. All documentation is provided in English.
06
The purchase is completed before a Swiss notary. We coordinate the handover, arrange property management if required, and remain available for post-completion support.
Taxation
Switzerland's tax treatment of second-home ownership is well-established and generally favourable for international buyers. The principal taxes applicable to property ownership in Graubunden are cantonal and communal property taxes, an imputed rental value tax (Eigenmietwert), and capital gains tax on disposal.
Switzerland has double taxation treaties with over 100 countries, which typically prevent the same income or gain from being taxed in both Switzerland and the buyer's country of residence. We work with a network of Swiss tax advisers who specialise in cross-border property ownership and can provide a full tax analysis prior to purchase.
No Swiss wealth tax on property held by non-residents in most cantons.
Capital gains tax in Graubunden is levied on a sliding scale, reducing with length of ownership.
Mortgage interest is deductible against imputed rental value in Switzerland.
Inheritance and gift tax rules vary by canton; Graubunden has no cantonal inheritance tax between direct descendants.
Our team has guided buyers from over 30 countries through the Swiss property acquisition process. We provide full advisory support from initial enquiry through to completion and beyond.