WORKING IN SWITZERLAND

Tax And Finances

Tax

Switzerland has one of the lowest rates of taxation and social security contributions of all the industrialised countries. Any individual who moves to Switzerland and takes up employment is subject to Swiss income taxes from the date of arrival, however providing that a number of conditions are met (i.e. one condition is that you must reside in Switzerland for less than 183 days a year), upon request, exemption from taxation can be claimed

Banking

Banking is one of Switzerland’s most famous industries, renowned for its secrecy. The stable political and legal conditions and the use of the most modern technology has won Switzerland a leading position in the banking world. In terms of in transfrontier portfolio management they have a market share of 35%.

Banks are open from Monday till  Friday from 8:15 am to 4:30 p.m. All major credit cards are accepted.

Bank Accounts

Some banks require foreigners to keep a certain amount of money in their accounts as security. We recommned any of the main players; Union Bank of Switzerland (UBS), Credit Suisse, Cantonal Banks - all offer exellent services and very advanced internet facilities.

Most banks will offer you a cash card, plus seperate "Switch" type EC card (which can also be used to draw out money abroad).