How to Invest in Switzerland as an Expat: The Step-by-Step Guide
January 26, 2026
9 min read
How to Invest in Switzerland as an Expat: The Step-by-Step Guide
A friend of mine moved to Zurich for a job at Google. Six months later, he had CHF 30,000 sitting in a UBS savings account earning 0.75%. He knew he should invest. He just didn't know where to start.
"Can I even invest here with a B permit?" "Do I need a Swiss broker?" "Will I get taxed on gains?" "What if I leave in three years?"
All valid questions. All with good answers. And all surprisingly simple once someone lays it out clearly.
This guide assumes you've already sorted the basics — bank account, health insurance, Pillar 3a. (If not, start with our Financial Roadmap for Year One.) This article picks up where the roadmap leaves off: you have money to invest. Here's exactly how.
The short answer
Yes, you can invest freely in Switzerland with any work permit (B, C, L, G). Capital gains on private investments are completely tax-free. You need a 3a account first (for tax savings), then a broker or investment app for everything beyond. The optimal strategy: Core-Satellite — a low-cost ETF as your foundation, and arvy for quality and education.
Contents
- The rules: What expats can and can't do
- Switzerland's secret weapon: Tax-free capital gains
- The right order: What to invest in first
- Your options: DIY, robo-advisor, or quality investing
- Core-Satellite: Why smart expats do both
- Choosing a broker or app
- What happens to your investments when you leave
- FAQ
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The rules: What expats can and can't do
Let's clear this up immediately: there are no restrictions on investing in Switzerland based on your permit type. Whether you hold a B, C, L, or G permit, you can freely open brokerage accounts, buy stocks and ETFs, invest in funds, and contribute to Pillar 3a.
| Activity | Permit B | Permit C | Permit L | Permit G |
|---|---|---|---|---|
| Open a brokerage account | ✅ | ✅ | ✅ | ✅ |
| Buy stocks & ETFs | ✅ | ✅ | ✅ | ✅ |
| Invest in funds | ✅ | ✅ | ✅ | ✅ |
| Contribute to Pillar 3a | ✅ | ✅ | ✅ | ⚠️ Limited |
| Buy property | ⚠️ Restrictions | ✅ | ❌ | ❌ |
The only restriction that affects most expats is property: B-permit holders can only buy a primary residence (not investment property), and L-permit holders generally cannot buy at all. For financial investments — stocks, ETFs, funds, crypto — there are zero restrictions.
Switzerland's secret weapon: Tax-free capital gains
This is the fact that makes every expat's eyes widen: capital gains on private investments are completely tax-free in Switzerland.
You buy an ETF for CHF 10,000. It grows to CHF 15,000. You sell. The CHF 5,000 profit? Zero tax. No capital gains tax, no speculation tax, no holding period requirement. This applies to stocks, ETFs, funds, crypto — everything held as a private investor.
What IS taxed
Dividends are taxed as income (added to your taxable income for the year). Swiss withholding tax of 35% is deducted at source but fully reclaimable through your tax return. Foreign dividends may be subject to withholding tax in the source country, partially reclaimable depending on double taxation agreements. Wealth tax: your total portfolio value is included in your taxable wealth (typically 0.1–0.5% per year depending on canton). Both are manageable costs that don't come close to offsetting the massive advantage of tax-free capital gains.
For comparison: in Germany, you'd pay 26.375% on that CHF 5,000 gain. In the UK, 10–20%. In the US, 15–20%. Switzerland: 0%. This makes Switzerland one of the most attractive places on Earth to build long-term wealth through investing. And it's one of the reasons the Swiss average savings rate (19%) is among the highest in Europe.
You don't need a special account or a tax-advantaged wrapper. In Switzerland, every brokerage account is tax-advantaged — because capital gains simply aren't taxed.
The right order: What to invest in first
Most expats get this wrong. They open a Swissquote account and buy a random ETF before even setting up their 3a. Here's the correct sequence:
Step 1 — Before investing
Emergency fund: 3–6 months of expenses
CHF 15,000–25,000 in a savings account. Not invested. This is your safety net for job loss, medical emergencies, or unexpected moves. Once it's full, stop adding to it and move to step 2.
Step 2 — Tax-advantaged investing
Pillar 3a: Max it out (CHF 7,258/year)
Every franc is tax-deductible. At a 30% marginal rate, that's ~CHF 2,200/year in instant tax savings. Invest it in securities (not a savings account) for long-term growth. This should always come before any free investing.
Step 3 — Free investing
Everything beyond 3a: Core-Satellite
Once 3a is maxed (~CHF 605/month), invest everything else. This is where the real wealth-building happens — tax-free capital gains, compounding over decades, and the freedom to choose exactly what you own.
The optimal approach: Core-Satellite (explained below).
Why this order matters
Pillar 3a gives you an instant 25–35% "return" through tax savings — before any market return. No ETF and no stock can match that guaranteed return. Always max your 3a before investing freely. The exception: if you're leaving Switzerland within 12 months, skip 3a and invest freely (the administrative overhead isn't worth it for one year).
Your options: DIY, robo-advisor, or quality investing
For your free investments (everything beyond 3a), you have three paths. Each has trade-offs:
| Approach | What it is | Cost | Best for | Downside |
|---|---|---|---|---|
| DIY Swissquote, IBKR, Saxo |
You pick your own stocks/ETFs through a broker | Low (0.1–0.5% + transaction fees) | Experienced investors who enjoy research | You need knowledge, discipline, and time. Most DIY investors underperform. |
| Robo-Advisor Viac Invest, findependent, True Wealth |
Algorithm invests in ETFs for you. Broad market exposure, automated. | Low (0.25–0.50%) | Hands-off investors who want the market average | You own 1,500 companies and understand none of them. No education, no conviction in downturns. |
| Quality Investing ⭐ arvy |
~30 hand-picked quality companies. Founders co-invest. Weekly education. Savings plan, 3a, and children's account available. | Moderate (0.84–1.11%) | Investors who want to understand what they own and why | Higher fees than passive ETF. Concentrated portfolio (30 vs. 1,500 companies). |
Here's the thing most guides won't tell you: you can use arvy in two ways. Either as your complete investment setup (3a + savings plan + children's account — all under one roof), or as a quality component (30–50%) alongside an ETF core. Both work.
Two paths that work: 100% arvy or Core-Satellite
There's no one right approach. There are two — both of which work, depending on how you prefer to invest:
Path 1: 100% arvy
Everything under one roof. Your Pillar 3a at arvy (5 strategies from Strolling to Climbing), your savings plan at arvy (from CHF 100/month), your children's account at arvy. Same ~30 quality companies, same team, same philosophy. One login, one contact, one strategy. For people who want simplicity and focus.
Path 2: Core-Satellite (arvy as 30–50%)
arvy alongside an ETF core. 50–70% in a broad ETF (as a stable foundation), 30–50% in arvy (as a quality accelerator and education tool). Core-Satellite is the standard strategy of pension funds and family offices worldwide. For people who want both maximum diversification AND actively selected quality.
Which path is right for you? Both are legitimate. The first is simpler and more focused. The second offers maximum diversification. Many of our clients start with 100% arvy and add an ETF core later as their wealth grows.
Concrete example: CHF 2,000/month to invest
Option A — 100% arvy:
| Product | Monthly | Provider | Purpose |
|---|---|---|---|
| arvy Pillar 3a | CHF 605 | arvy | Tax savings + quality stocks |
| arvy savings plan | CHF 1,395 | arvy | Same strategy, no contribution limit |
| Total | CHF 2,000 |
Option B — Core-Satellite:
| Product | Monthly | Provider | Purpose |
|---|---|---|---|
| arvy Pillar 3a | CHF 605 | arvy | Tax savings + quality stocks |
| ETF Core | CHF 800 | findependent / True Wealth | Broad market exposure, low cost |
| arvy savings plan | CHF 595 | arvy | Quality stocks + education + co-investment |
| Total | CHF 2,000 |
After 10 years at 7% average return, this CHF 2,000/month becomes approximately CHF 350,000. After 20 years: ~CHF 1,050,000. Calculate your exact number: → Compound Interest Calculator
More allocation scenarios with different salary levels: → How to Invest CHF 500/Month: The Optimal Allocation
💡 Want to understand what you'd actually own? Read one edition of arvy's Weekly — a deep dive into one quality company, every Friday, free. Then decide if this approach resonates with you. → Subscribe free
Choosing a provider
For your Pillar 3a
| Provider | Total cost | Max equity | Approach |
|---|---|---|---|
| arvy ⭐ | 0.84–1.11% | 100% (Climbing) | Actively managed — ~30 hand-picked quality companies, 3 CFA-charterholders, founders co-invest six figures |
| Finpension | 0.39% | 99% | Passive, ETF-based |
| VIAC | 0.44% | 99% | Passive, ETF-based |
| frankly (ZKB) | 0.45–0.48% | 95% | Passive, ETF-based, bank-backed |
For your free investments
| Provider | Type | Cost | Best for |
|---|---|---|---|
| arvy ⭐ | Quality investing (managed) | 0.84–1.11% | Quality stocks + education + co-investment. Weekly analyses, 11 calculators, book club. Founders invest their own money alongside you. |
| findependent | Robo-advisor (ETF) | 0.40–0.44% | Simple, low-cost passive investing |
| True Wealth | Robo-advisor (ETF) | 0.25–0.50% | Passive ETF allocation |
| Viac Invest | Robo-advisor (ETF) | 0.25% | Passive ETF allocation |
| Swissquote | DIY broker | CHF 9–29/trade + custody | Full control, Swiss-domiciled |
| Interactive Brokers | DIY broker | Very low per-trade | Experienced investors, global access |
Why arvy is different
arvy is neither a traditional broker nor a robo-advisor. It's a quality investing app where three CFA-charterholders select ~30 companies based on cash flows, competitive moats, and pricing power — and invest their own money (over CHF 100,000) in the same portfolio. You get Pillar 3a, App savings plan, children's account, and the equity fund under one roof. Plus: weekly analyses, 11 financial calculators, a book club, and a complete education library. The difference: you understand what you own. And that understanding is what keeps you invested when markets drop.
What happens to your investments when you leave
This is the question every expat investor asks eventually. The good news: your investments are yours, regardless of where you live.
| Investment type | What happens when you leave |
|---|---|
| Pillar 3a | Withdraw in full upon permanent departure. Subject to withdrawal tax (4–10% depending on canton). → 3a Guide |
| Pillar 2 (Pension Fund) | Transferred to a vested benefits account. Withdrawable after departure — timing depends on destination (EU/EFTA: mandatory portion may be locked until retirement). |
| ETF / Robo-advisor | Remains yours. Most Swiss robo-advisors require Swiss residency — you may need to transfer positions to a broker that accepts non-residents. |
| arvy equity fund | Remains yours. The arvy equity fund (ISIN LI1306144786) is a Liechtenstein-domiciled UCITS fund — holdable from anywhere through any broker that offers it. No Swiss residency required. |
| Swissquote / IBKR | Keep your account. Both accept non-resident clients. Your positions remain untouched. |
Planning ahead
If you know you'll leave Switzerland eventually, the arvy equity fund is the cleanest option for continued investing: it's accessible globally, denominated in CHF/USD/EUR, and doesn't require a Swiss address. You can start with the arvy app while in Switzerland and transition to holding the fund through your international broker when you leave. → arvy Equity Fund
Complete step-by-step for your financial departure: → Leaving Switzerland? Your Complete Financial Checklist
Frequently Asked Questions
Can I invest with a B permit?
Yes. No restrictions whatsoever on financial investments (stocks, ETFs, funds, crypto). The only permit-based restriction is on property: B-permit holders can only purchase a primary residence.
Are investment gains taxed in Switzerland?
Capital gains on private investments: no. Dividends: yes (taxed as income, but Swiss withholding tax is reclaimable). Wealth: yes (your total portfolio value is subject to cantonal wealth tax, typically 0.1–0.5%/year). Net effect: Switzerland is one of the most tax-efficient places to invest in the world.
Should I use a Swiss broker or an international one?
Both work. Swiss brokers (Swissquote) make tax reporting easier — they provide Swiss tax statements. International brokers (Interactive Brokers) are cheaper per trade and offer wider market access. If you plan to stay in Switzerland long-term: Swiss broker for simplicity. If you plan to leave: international broker for portability.
ETF or individual stocks?
For most expats: not individual stocks. Unless you have genuine expertise and enjoy research, you'll underperform. The two best options: a robo-advisor (ETF, passive, cheap) or arvy (quality stocks, managed, educational). Or ideally: both as Core-Satellite.
How much should I invest per month?
After emergency fund and 3a: everything you can. The Swiss average savings rate is 19%. On CHF 10,000 gross, that translates to ~CHF 1,900/month beyond 3a. But even CHF 300/month grows to over CHF 50,000 in 10 years. Starting matters more than the amount. → How to invest CHF 500/month
What currency should I invest in?
If you earn and spend in CHF: invest in CHF. The Swiss franc has historically strengthened against EUR, GBP, and USD. Investing in CHF means your wealth grows in the currency you actually use. arvy and most Swiss robo-advisors offer CHF-denominated investment classes.
Do I need to declare my investments in my tax return?
Yes. You must declare: the total value of your portfolio (for wealth tax), dividends received (as income), and interest from savings accounts. Capital gains: not declared (tax-free). Your broker provides an annual tax statement. If you use a Swiss broker, this integrates directly into Swiss tax software.
What's the minimum to start?
Robo-advisors: from CHF 1 (Viac Invest). arvy savings plan: from CHF 100/month. arvy equity fund through your broker: from ~CHF 11 per unit. Swissquote: no minimum, but transaction fees mean it's practical from ~CHF 1,000. There's no excuse not to start. → arvy savings plan
This article was written by Thierry Borgeat, Co-Founder of arvy, and reviewed by Patrick Rissi, CFA, and Florian Jauch, CFA. Last updated March 2026.
Disclaimer: This article is for general informational purposes and does not constitute personal investment or tax advice. Tax rules depend on your individual situation, canton, and permit type. Capital gains tax exemption applies to private investors; professional traders may be subject to different rules. The mention of other providers is for informational purposes — arvy is not affiliated with them. Past performance is not a reliable indicator of future results. arvy is a FINMA-supervised asset manager. Legal Notice & Disclaimers
