Should Switzerland Rethink its Investment Migration Policies?

An IMGW News Report

Switzerland’s Green Party has once again called for the abolition of the country’s Investment Migration Programme, often referred to as the Golden Visa, claiming that it favours the wealthiest at the expense of the broader population.

Politicians from the Green Party have raised concerns over the programme’s inequality, arguing that it allows the wealthiest individuals to bypass standard immigration rules. They have also expressed worries that such schemes risk attracting oligarchs and other undesirables, with Russia and China continuing to dominate the list of recipients. It is noted that substantial wealth in these countries often requires connections to the ruling regimes.

“the debate in Switzerland continues, with critics challenging the fairness and transparency of such initiatives”

The Investment Migration Programme, which was introduced in Switzerland in 2008, offers residency to wealthy non-EU nationals in return for financial investments. Residency can be converted into citizenship after at least ten years. The cost of obtaining a visa varies significantly depending on the canton; for example, the price in Obwalden starts at CHF250,000 (€256,000), whereas Zurich demands a minimum investment of CHF1 million (€1,070,370) (SchengenVisaInfo, Swissinfo.ch). Currently, 496 people hold a Swiss Golden Visa, a rise from 404 in 2022, according to the Swiss Secretariat for Migration.*

In contrast, politicians from the right-wing Swiss People’s Party have defended the programme, emphasising its economic benefits. They argue that Switzerland requires immigration that contributes positively to society and the economy, noting that the Golden Visa scheme attracts high-net-worth individuals who add significant value to the country.

While many European Union countries also offer residence-by-investment programmes, particularly those based on real estate, they have faced criticism for their potential links to money laundering and corruption. Nonetheless, the debate in Switzerland continues, with critics challenging the fairness and transparency of such initiatives.

*Swiss Secretariat for Migration: The SEM is the Swiss federal authority responsible for all matters related to foreigners, including granting visas, regulating entry into the country, overseeing naturalisation processes, and managing asylum procedures. It operates under the Federal Department of Justice and Police and is headquartered in Wabern (Köniz), Switzerland. As of 2023, the SEM is headed by Federal Councillor Élisabeth Baume-Schneider, with Christine Schraner Burgener serving as the State Secretary. For detailed information on Switzerland’s Investment Migration Programme and related statistics, you can explore the SEM’s official publications and reports on their website.