May 15, 2025 — Switzerland’s Golden Visa Program continues to attract significant interest from affluent non-EU nationals, with the latest data revealing Russian and Chinese citizens as the leading beneficiaries.
Launched in 2008, Switzerland's Residency-by-Investment (RBI) scheme provides a legal pathway for wealthy foreign nationals to obtain Swiss residency in exchange for a substantial financial contribution to the national or cantonal economy. The program has steadily gained popularity among global elites, particularly those from countries facing geopolitical or economic uncertainties.
Nearly 500 Holders and Rising Demand
The SEM data highlights the top countries of origin for applicants under the Swiss RBI scheme. These include:
In contrast, Russia’s own Golden Visa initiative, launched to attract wealthy foreigners, has seen limited success, drawing only 14 applicants in 2024—a figure that falls short of the program’s intended goals.
Economic Impact vs Ethical Concerns
While the Swiss Golden Visa Program has undoubtedly contributed to the country’s economy through significant capital inflows, it is now facing increasing political and public scrutiny. The Swiss Green Party has recently called for the program’s termination, arguing that it disproportionately benefits the ultra-wealthy while undermining the principles of fairness and transparency.
Balthasar Glättli, a prominent Green Party parliamentarian, voiced concerns that the scheme enables "oligarchs and other undesirable individuals"—particularly from Russia and China—to secure residency rights in Switzerland.
“The wealthiest get the best deal, regardless of their background or intentions. This undermines our values and raises serious questions about the integrity of our immigration system,” Glättli stated.
Investment Thresholds Vary by Canton
To qualify for a Swiss Golden Visa, applicants must be non-EU/EFTA nationals and commit to a minimum annual tax contribution or direct investment, which varies by canton. Examples include:
Future of the Program Remains Uncertain
As political debate over the program intensifies, the future of Switzerland’s Golden Visa scheme hangs in the balance. Advocates argue that the initiative brings vital foreign investment and bolsters regional economies, especially in smaller cantons. Critics, however, warn that it risks turning the Swiss residency system into a privilege reserved solely for the global elite.
With mounting pressure from political parties and growing public skepticism, the government may soon be forced to reassess the structure and ethical implications of its Residency-by-Investment program.
Launched in 2008, Switzerland's Residency-by-Investment (RBI) scheme provides a legal pathway for wealthy foreign nationals to obtain Swiss residency in exchange for a substantial financial contribution to the national or cantonal economy. The program has steadily gained popularity among global elites, particularly those from countries facing geopolitical or economic uncertainties.
Nearly 500 Holders and Rising Demand
According to the latest figures from the Swiss State Secretariat for Migration (SEM), 496 individuals currently hold a Swiss Golden Visa, marking a notable increase from the 404 visa holders reported in 2022. This growth underscores the program's appeal despite increasing scrutiny both domestically and abroad.
Top Beneficiary Nationalities Revealed
Top Beneficiary Nationalities Revealed
The SEM data highlights the top countries of origin for applicants under the Swiss RBI scheme. These include:
- Russia
- China
- United Kingdom
- Canada
Russian nationals continue to dominate the list, despite being barred from similar programs in numerous European Union countries. In response to Russia’s invasion of Ukraine, many EU member states have imposed sanctions and suspended their own residency-by-investment schemes for Russian applicants, making Switzerland one of the remaining viable options.
In contrast, Russia’s own Golden Visa initiative, launched to attract wealthy foreigners, has seen limited success, drawing only 14 applicants in 2024—a figure that falls short of the program’s intended goals.
Economic Impact vs Ethical Concerns
While the Swiss Golden Visa Program has undoubtedly contributed to the country’s economy through significant capital inflows, it is now facing increasing political and public scrutiny. The Swiss Green Party has recently called for the program’s termination, arguing that it disproportionately benefits the ultra-wealthy while undermining the principles of fairness and transparency.
Balthasar Glättli, a prominent Green Party parliamentarian, voiced concerns that the scheme enables "oligarchs and other undesirable individuals"—particularly from Russia and China—to secure residency rights in Switzerland.
“The wealthiest get the best deal, regardless of their background or intentions. This undermines our values and raises serious questions about the integrity of our immigration system,” Glättli stated.
Investment Thresholds Vary by Canton
To qualify for a Swiss Golden Visa, applicants must be non-EU/EFTA nationals and commit to a minimum annual tax contribution or direct investment, which varies by canton. Examples include:
- Obwalden: Minimum CHF 250,000 (approx. €256,000)
- Zurich: Minimum CHF 1 million (approx. €1,070,370)
Future of the Program Remains Uncertain
As political debate over the program intensifies, the future of Switzerland’s Golden Visa scheme hangs in the balance. Advocates argue that the initiative brings vital foreign investment and bolsters regional economies, especially in smaller cantons. Critics, however, warn that it risks turning the Swiss residency system into a privilege reserved solely for the global elite.
With mounting pressure from political parties and growing public skepticism, the government may soon be forced to reassess the structure and ethical implications of its Residency-by-Investment program.
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