New to Switzerland? Your financial roadmap for the first year

Anyone who's recently started working and living in Switzerland — whether from the EU, overseas, on a B permit, L permit, or as a cross-border commuter (G permit). The fundamentals apply to all. Where differences exist, we flag them explicitly.

The Basics: Bank Account, Insurance, Orientation

☐ Open a Swiss bank account. You need one for salary, rent, and everything else. Neobanks (Yuh, Neon) are quick to set up; traditional banks (UBS, ZKB) take a bit longer but are more flexible with documentation during the permit process.

☐ Get health insurance within 3 months. This is mandatory for everyone — and unlike most countries, it's NOT employer-paid. Budget CHF 350–500/month. Compare on comparis.ch or priminfo.admin.ch. Choose the highest franchise (CHF 2,500) if you're young and healthy — it reduces your monthly premium by CHF 100–150.

☐ Understand your first payslip. It will show deductions you've never seen before: AHV (5.3%), pension fund (7–9%), accident insurance (1–2%), and — if you have a B permit — withholding tax (8–15%). For a full breakdown of what each deduction means and how much you actually keep: → Salary Breakdown Switzerland: What CHF 10,000 Really Looks Like

☐ Request your pension fund statement (Vorsorgeausweis). Your employer automatically enrols you. Ask for the statement — it shows your current balance, projected retirement income, and buy-in potential. → How to read your PK statement

Sort Out Taxes: Withholding Tax vs. Ordinary Assessment

If you don't have a C permit (i.e. you have a B, L, or G), you automatically pay withholding tax (Quellensteuer) — your employer deducts it directly from your salary. This sounds convenient, but it has a hidden cost:

Earning over CHF 120,000 gross? You're automatically required to undergo ordinary assessment — you'll receive a tax return and can claim all deductions.

Earning under CHF 120,000? You can voluntarily apply for NOV (deadline: 31 March of the following year). This is almost always worthwhile if you contribute to 3a, have high commuting costs, or pay for professional development.

Warning: The application is irrevocable in most cantons — once filed, you'll fill out a tax return every year going forward. But for most expats, the tax savings far outweigh the effort.

Open a Pillar 3a and Start Contributing

This is the single biggest financial mistake newcomers make: they wait. Every year you don't contribute to 3a, you leave CHF 1,500–2,500 in tax savings on the table — plus years of compound growth on that money.

☐ Open a 3a investment account (not a savings account — the difference over 20 years is CHF 100,000+)
☐ 2026 maximum: CHF 7,258 (employees with pension fund)
☐ Set up a standing order of CHF 605/month
☐ Choose a high-equity strategy (80–99%) if your horizon is 10+ years
☐ The maximum is NOT pro-rated — even if you arrived in September, you can contribute the full amount by 31 December

NEW in 2026: You can now make retroactive contributions for missed years (from 2025 onwards). If you arrived mid-2025 and didn't max your 3a, you can catch up in 2026. → Retroactive 3a Contributions Guide

Complete guide with provider comparison, tax savings by canton, and what happens when you leave: → Pillar 3a for Expats: The Complete 2026 Guide

If you work in Switzerland with a G permit but live abroad, Pillar 3a contributions are generally only tax-deductible if you're subject to Swiss withholding tax and apply for NOV. Check your specific situation — it depends on the double taxation agreement with your country of residence.

💡 Want to know exactly what your Swiss salary looks like after all deductions — and how much you can invest? Use our interactive breakdown with 4 salary levels.

Build an Emergency Fund and Start Investing

Once 3a and taxes are sorted, build an emergency fund of 3–6 months' expenses. In Switzerland, that's CHF 15,000–25,000 depending on your lifestyle and location. Keep this in a savings account — not invested.

After the emergency fund is complete: invest everything else. The Swiss average savings rate is 19% — meaning on a CHF 10,000 salary, you should have ~CHF 1,900/month beyond 3a to invest.

The optimal approach: Core-Satellite strategy.

Core (50–70%): A low-cost ETF savings plan (Finpension, Viac, findependent, True Wealth). Broad diversification, minimal fees, automated.

Satellite (30–50%): arvy savings plan. ~30 hand-picked quality companies with real cash flows and pricing power. The founders invest their own money alongside you — over CHF 100,000 in the same portfolio. Plus weekly analyses, 11 financial calculators, and a complete education library.

Why both? The ETF gives you the market average. arvy gives you the chance to outperform through quality — and the knowledge to understand what you own (which protects you from panic-selling in a downturn).

Detailed guide with 4 concrete scenarios: → How to Invest CHF 500/Month: The Optimal Allocation
Why combining robo + quality investing works: → Robo-Advisor and Quality Investing: Why Smart Investors Do Both

Pension Check, Optimisation, and Long-Term Planning

☐ Read your PK statement and check buy-in potential — voluntary pension fund buy-ins are tax-deductible with no upper limit (→ PK Guide)

☐ Prepare your first tax return (if NOV filed or earning >CHF 120k). Claim: 3a contributions, commuting costs, professional expenses, further education, debt interest.

☐ Compare health insurance by end of November. Basic coverage is identical across all providers — only the premium differs. Switching can save CHF 1,000–2,000/year. Use comparis.ch.

☐ Check for vested benefits (Freizügigkeitskonto). If you changed jobs and there was a gap, your pension fund assets were transferred to a vested benefits account. Many expats forget about these. Find them, consolidate them, invest them.

☐ Think about your long-term plan. Where do you want to be in 5 years? This affects everything: whether to invest in CHF, whether to use PK funds for property, how to structure your 3a (multiple accounts for tax-optimised withdrawal), and whether arvy's equity fund (accessible from outside Switzerland) makes sense for continued investing after departure.

If you're already thinking about leaving: → Leaving Switzerland? Your Complete Financial Checklist

The application for ordinary assessment (NOV) must be submitted by 31 March of the following year. This deadline cannot be extended. Miss it, and you're stuck with withholding tax flat rates for that year — and you won't get the difference back.

Month 1:

☐ Swiss bank account opened
☐ Health insurance arranged (within 3 months)
☐ First payslip understood → Salary Breakdown
☐ Pension fund statement requested → PK Guide

Month 2–3:

☐ Withholding tax situation checked → Quellensteuer Guide
☐ NOV application submitted (if beneficial) — deadline: 31 March
☐ Pillar 3a account opened and standing order set → 3a Guide

Month 4–6:

☐ Emergency fund building (3–6 × monthly expenses)
☐ Surplus income being invested → CHF 500/Month Guide
☐ arvy Weekly subscribed → Free signup

Month 6–12:

☐ PK statement studied and buy-in potential checked
☐ Health insurance compared (switchable by end of November)
☐ Vested benefits accounts found and consolidated
☐ Long-term plan: staying? Property? Returning? → Leaving Checklist

Essential reading for expats in Switzerland