Switzerland is one of the countries that attract thousands of tourists, workers from all over the world, and entrepreneurs who want to start a business right in the heart of Europe, benefiting from a profitable tax system. Therefore, this country, small in surface, but with a solid economy and a high quality of life is very attractive for many foreigners
Here are some of the reasons foreigners love Switzerland:
- High living standard
In various rankings compiled over the years, Switzerland hold top spots regarding the living standard. Swiss workers receive some of the highest salaries in the world, taxes are considerably low compared with other countries for both individuals and companies, the natural landscapes are diverse and beautiful and Switzerland has great policies for environmental protection. These are just a few aspects that help create a high living standard for foreigners who decide to work, live and do business in Switzerland.
- Low taxes
Speaking of Swiss taxes, the tax rates are some of the lowest in Europe. In addition, Switzerland has concluded double taxation avoidance treaties with most industrialized countries from all over the world, thus creating tax advantages for foreign entrepreneurs and companies that decide to incorporate in Switzerland or to relocate an existing company in the country.
- Favorable conditions for business formation
Individuals or legal entities interested in Swiss company formation don’t have to face as many bureaucratic hurdles to register a company, due to the decentralized system. As a federation, cantonal authorities have power of taxation and this allows them to compete in order to attract as much foreign investors as they possibly can.
- Excellent geographical location
Switzerland is surrounded by countries that have some of the strongest economies in Europe, such as Germany, Austria, France and Italy. Due to the extremely well—developed infrastructures, many people who work in Switzerland have the status of cross-border commuters, without needing to effectively relocated in the country for job reasons.
Although it’s not part of the European Union, Switzerland has excellent commercial and economic connections with EU and EFTA member states. Thus, many foreign companies choose to establish their headquarters in Switzerland or to open a company branch in the country.
- Great education system
The Swiss education system is decentralized and autonomous and has the reputation of being one of the best in the world. The Swiss Constitution delegates to cantons the authority to coordinate the education system. The taught language in the canton determines the teaching language in schools.
The Swiss pre-university education system is divided into: primary education, lower secondary education and upper secondary education. Compulsory education begins at the age of 6 and lasts for 9 years. Compulsory education includes primary education and lower secondary education. In addition, Swiss universities are constantly ranked among the best universities in the world.
- Good health care system
The health care system in Switzerland is universal and governed by the Federal Health Insurance Act of 1994. The Swiss health care system is a combination of subsidized private and public schemes. The insured person has the full freedom to choose between recognized healthcare providers. Costs are covered by insurance up to the official rate. There is freedom of choice when selecting a pay-as-you-go insurance company, usually on a monthly basis.
- Stable economy
Switzerland is known for its stable economy, creating best conditions for living, working, or doing business in Switzerland as a foreigner. Monetary security policies and free trade agreements signed with the EU have contributed to the strength of the Swiss economy. Even during the periods of economic crisis, Switzerland’s currency, the Swiss franc has maintained its stability and has remained one of the preferred currencies for Swiss bank accounts holders.
Just by considering any of the mentioned reasons why foreigners love Switzerland, it’s easy to see why the country continues to be an attractive location for people who want love, work or start a business in the country.