Lex Koller: Can Foreigners Buy Property in Switzerland? (2026 Guide)

Every year, thousands of wealthy foreigners look at Switzerland and ask the same question: Can I buy a house there?

The short answer: foreigners who live in Switzerland can usually buy their own home, EU/EFTA residents and C-permit holders can buy like Swiss citizens, and non-residents can only buy holiday homes under a quota or commercial property. Switzerland is not a country where money alone opens the door to property ownership. A complex federal law — the Lex Koller — governs who may purchase real estate, under what conditions, and with what restrictions. Understanding this law is essential before you engage a notary, sign a reservation agreement, or wire a deposit.

This guide explains the Lex Koller in plain language, covers the major exceptions and restrictions, and outlines the practical steps for foreign buyers who do have the right to purchase. If you are still weighing up whether to buy at all, start with our buying vs renting guide for expats.

What Is Lex Koller?

The Lex Koller is the common name for the Bundesgesetz über den Erwerb von Grundstücken durch Personen im Ausland (BewG) — the Federal Act on the Acquisition of Real Estate by Persons Abroad. It was enacted in 1983 and has been amended several times since.

The law's stated purpose is to prevent Überfremdung — the foreign domination of Swiss land. In practice, it ensures that Swiss residential real estate remains primarily in the hands of residents, preventing speculative purchases by non-residents that could drive up prices and reduce housing availability for the domestic population.

Lex Koller applies uniformly across all 26 cantons. It is federal law, not cantonal. However, enforcement and interpretation vary meaningfully from canton to canton — a point we will return to below.

Who Can Buy Property Freely?

The following categories of buyers face no Lex Koller restrictions when purchasing residential property in Switzerland:

• Swiss citizens — regardless of where they reside.
• Dual nationals holding Swiss citizenship — the second nationality is irrelevant.
• EU/EFTA nationals who live in Switzerland, with a B or C permit. Under the free movement agreement they are treated like Swiss citizens and may buy primary residences, second homes and investment properties without authorization.
• Any foreign national with a valid C permit (settlement permit / Niederlassungsbewilligung). The C permit grants the same real estate rights as Swiss citizenship.

The C permit is typically issued after 5–10 years of continuous residence in Switzerland, depending on your nationality and the bilateral agreements in effect.

Who Can Buy — With Restrictions?

Non-EU/EFTA nationals with a B permit (residence permit / Aufenthaltsbewilligung) may purchase one property for personal use as a primary residence. (EU/EFTA nationals with a B permit are not restricted; see above.)

The restrictions are significant:

• Primary residence only. You cannot buy a second apartment to rent out or a holiday chalet in the Alps.
• One property. If you already own a residential property in Switzerland, you cannot purchase another one under the B-permit exemption.
• Personal use. You must actually live in the property as your main home. Buying it to let out breaches the conditions.
• Location. The property must be at the place where you legally and actually live.

Under current law, this main-home purchase does not require a separate cantonal authorization; the notary and the land registry check your permit and residence. That could change: the Federal Council's April 2026 consultation draft would make it subject to authorization and require a sale within two years if you move abroad.

Who Cannot Buy?

Lex Koller prohibits the following groups from purchasing Swiss residential property (outside the holiday-home quota):

• Non-residents — regardless of nationality. A German citizen living in Munich cannot buy an apartment in Zürich to live in or let out.
• Non-EU/EFTA nationals without a C permit — a US, UK, or Chinese citizen holding a B permit can buy a primary residence (see above), but nothing beyond that.
• Non-EU/EFTA B permit holders seeking investment properties — rental apartments and residential buildings bought as investments are prohibited.
• Foreign-controlled entities — a BVI company or a Dubai-registered holding cannot purchase Swiss residential real estate. The law looks through corporate structures: a Swiss company controlled from abroad is itself treated as a person abroad.

Holiday Homes: The 1,500-Unit Quota

Switzerland does allow non-residents and restricted buyers to purchase holiday homes (Ferienwohnungen) — but under an extremely limited quota system.

The Rules

• At most 1,500 authorisations per year across all of Switzerland, shared between the cantons as quotas. The 2026 reform proposal would reduce these quotas.
• Maximum 200m² net living space. You cannot buy a 400m² villa as a "holiday home."
• Designated tourist zones only (Tourismuszonen). The property must be located in a municipality that the canton has officially designated as a tourist zone. The most common cantons for holiday-home permits are Valais (Verbier, Crans-Montana, Zermatt), Graubünden (St. Moritz, Davos, Klosters), and Ticino (Lugano surrounds, Ascona). If you are considering the south, our Lugano and Ticino guide describes the main areas.
• Personal use required. You may rent out the property short-term (up to a cantonal limit), but it must remain primarily for your personal use.

The Second Home Initiative (Zweitwohnungsinitiative)

Since 2012, the Swiss constitution limits new second-home construction in municipalities where second homes exceed 20% of the housing stock. This "Weber Initiative" has drastically reduced the supply of new-build holiday apartments in popular Alpine resorts and pushed prices for existing permitted units sharply higher.

For foreign buyers, this means: the pool of eligible holiday-home properties is shrinking, and competition for permitted units is intense.

Key Exceptions to Lex Koller

Several categories of real estate are exempt from Lex Koller restrictions:

• Commercial and industrial properties. Property used for a business, such as offices, a factory, a warehouse or a hotel, can currently be bought without authorization. The 2026 proposal would limit this to premises the buyer uses itself, excluding pure investments.
• Swiss-incorporated companies. A company incorporated in Switzerland and genuinely controlled by Swiss residents may purchase residential property. The authorities check whether the company is really Swiss-controlled or merely a workaround.
• Inheritance. If you inherit Swiss residential property from a relative, Lex Koller does not prevent you from taking ownership. However, you may face restrictions on selling to another foreign person.
• Listed shares and traded fund units. Buying shares in listed Swiss real estate companies or units of regularly traded real estate funds does not currently count as acquiring property. The 2026 proposal would stop foreign persons from buying these for residential property companies and funds.
• Agricultural land. Agricultural property is governed by a separate regime under the BGBB (Bundesgesetz über das bäuerliche Bodenrecht), which has its own restrictions — generally even stricter than Lex Koller for non-farmers.

Cantonal Differences in Enforcement

While Lex Koller is federal law, it is applied by cantonal authorities (kantonale Bewilligungsbehörden), notaries and land registries. In our experience, that creates real differences in practice:

• Processing speed varies. Smaller cantons with experienced authorities tend to move faster than large urban cantons.
• Documentation varies. Some cantons, Geneva among them, look very closely at residence status, source of funds and intended use, and corporate structures get particular attention.
• Holiday-home quotas matter most in Valais, Graubünden and Ticino, where demand for authorisations is highest and experienced local notaries are essential.

Choosing the right canton — and the right local notary — can significantly affect the timeline and outcome of your purchase.

No "Golden Visa": Property Does Not Grant Residency

This is perhaps the most important point for international buyers to understand.

In countries like Portugal (Golden Visa, now reformed), Greece, Spain, and several Caribbean nations, purchasing property above a threshold grants the buyer a residence permit.

Switzerland has no such program. Purchasing a CHF 10 million villa in Gstaad does not give you the right to live in Switzerland. You must have independent grounds for a residence permit — employment, family reunification, retirement with sufficient financial means, or lump-sum taxation (Pauschalbesteuerung) — before you can even apply to purchase.

The sequence is always: permit first, property second. Never the reverse.

After the Eigenmietwert: What Changes in 2029

Swiss voters approved the reform of home-ownership taxation in September 2025, and the Federal Council has set it to take effect on 1 January 2029. It matters for foreign holiday-home owners too:

• The imputed rental value (Eigenmietwert) is abolished for owner-used primary and second homes.
• Mortgage interest on owner-used property is largely no longer deductible (first-time buyers get a limited deduction).
• To make up for lost revenue, each canton may introduce a special property tax (Objektsteuer) on second homes that are mainly used by their owners.

Whether your holiday-home tax bill goes up or down will depend on the canton and on how much mortgage debt you carry. Check with a local tax adviser before you buy.

Practical Steps: The Authorization Process

If you are a foreign buyer with the legal right to purchase (B or C permit holder, or holiday-home applicant), here is the typical process:

1. Engage a Local Notary (Notar / Notaire)

In Switzerland, all real estate transactions must be notarized. The notary is not merely a rubber stamp — they are a legally mandated gatekeeper who verifies Lex Koller compliance before executing the purchase contract.

Choose a notary experienced with foreign buyers. In cantons like Geneva and Vaud, the notaire conducts the entire transaction. In German-speaking cantons, the notary prepares the Kaufvertrag and submits it to the Grundbuchamt.

2. Submit the Authorization Request (Bewilligungsgesuch), Where Needed

Holiday-home buyers and other purchases that need authorization go through a formal request to the cantonal authority. (Under current law, a main-home purchase by a resident B-permit holder does not.) Required documents typically include:

• Valid residence permit (or confirmation of permit application)
• Purchase contract (draft)
• Proof of financing (bank confirmation)
• Declaration of intended use (primary residence / holiday home)
• For holiday homes: confirmation that the property lies in a designated tourist zone

3. Wait for Approval

Processing times vary by canton and by the complexity of the case. Holiday-home authorisations in high-demand cantons can take longer when the annual quota is under pressure. Build this into your purchase timeline and your financing.

4. Grundbuch Registration

Once approved, the notary registers the transfer at the Grundbuchamt (land registry). Depending on the canton, a property transfer tax (Handänderungssteuer) may be due. Some cantons, such as Zürich and Zug, levy none, while others such as Geneva and Vaud charge several percent of the price. Notary and land registry fees come on top.

The Offlist Angle: Off-Market Access for Qualified Foreign Buyers

For foreign buyers who do hold the right to purchase — C-permit holders, qualified B-permit buyers, or holiday-home applicants with cantonal authorization — the challenge shifts from legality to access.

Many of the most desirable Swiss properties rarely appear on public portals. Lakefront villas in Küsnacht, homes in Geneva's Cologny or historic chalets in Gstaad often change hands through private networks, family connections and curated platforms. In Zürich, see our guides to buying off-market apartments and buying a penthouse off-market.

At Offlist, we connect qualified buyers with owners who prefer discretion over public exposure. If you hold a valid permit, create a free private profile and we will match you with properties that never reach Homegate or ImmoScout24. HNWI families relocating under lump-sum taxation should also read our guide to lump-sum taxation and housing.

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Frequently Asked Questions

Can a US citizen buy a house in Switzerland?

Yes, within limits. A US citizen with a C (settlement) permit has the same property rights as a Swiss citizen. With a B permit, they may buy one home to live in at their place of residence. Without Swiss residence, they cannot buy residential property except a holiday home under the quota system. Business premises can currently be bought regardless of residency, although the 2026 reform proposal would narrow this.

What happens to my Swiss property if I leave Switzerland?

Under current law, you are not required to sell your main home when you leave Switzerland. You keep it as a non-resident owner and remain liable for Swiss taxes on it. The Federal Council's 2026 consultation draft would change this for non-EU/EFTA nationals, who would have to sell within two years of moving abroad, so follow the reform if this applies to you.

Are there cantons with no Lex Koller restrictions?

No. Lex Koller is federal law (BewG) and applies uniformly across all 26 cantons. There is no canton where a non-resident foreigner can freely purchase residential property without authorization. However, interpretation and enforcement vary significantly. Some cantons process applications faster than others, and some, such as Geneva, scrutinize foreign purchases particularly closely. The choice of canton can affect your timeline and experience, but not the fundamental legal framework.

About the Author

Benjamin Amos Wagner

Founder of Expat-Savvy.ch & Offlist | Connecting Expats with Homes