The Switzerland Golden Visa Program, designed to attract wealthy non-EU nationals by offering residency in exchange for financial investment, is once again under scrutiny. The Green Party of Switzerland is pushing to abolish this program, arguing that it favors the richest while ignoring fairness in immigration laws.
Green Party parliamentarian Balthasar Glättli has voiced strong concerns about the program. He argues that it creates inequality under immigration rules, as “the wealthiest get the best deal.” Glättli also fears that the scheme could attract oligarchs and other undesirable individuals to Switzerland. He highlights that many recipients come from countries such as Russia and China, where wealth is often tied to political favour.
Currently, 496 people hold a Golden Visa in Switzerland, a rise from 404 in 2022, according to the Swiss Secretariat for Migration. The program was introduced in 2008 to encourage wealthy foreigners to invest in Switzerland and grant them residency. Depending on the canton, the cost of obtaining a Golden Visa ranges from CHF 250,000 in Obwalden to over CHF 1 million in Zurich.
The Switzerland Golden Visa Program is not only for investors but also welcomes wealthy entrepreneurs planning to start businesses within the country. Furthermore, many Swiss cantons provide flat-tax agreements to foreign nationals who do not earn income inside Switzerland, offering significant tax advantages.
In contrast to the Green Party’s criticism, the right-wing Swiss People’s Party supports the scheme. Party member Barbara Steinemann says immigration through this program benefits the economy and society. She argues that attracting wealthy immigrants can positively impact the country.
Several European Union countries also offer similar Golden Visa Programs to non-EU wealthy individuals. However, these programs often face criticism related to money laundering and corruption concerns, raising questions about their overall integrity.
