Moving away from Switzerland

Updated 8 months ago by Marco Barmettler

Are you thinking about moving away from Switzerland and want to know if this affects your investments at Selma?

When moving away from Switzerland you can generally keep the Selma investment account. This is true for all EU countries and the UK. Other countries like the USA, Japan etc. are very strict regarding foreign-held accounts. If you move to one of these two countries, you would have to sell your investments and close your account at Selma.

Taxes

Please consider that there might be different tax regulations in different countries and currently Selma only provides a yearly tax report for Swiss purposes. Also, your investment account would continue to be denominated in Swiss Francs.

Outside of EU (and UK)

Countries outside the EU and UK will be checked by Selma and Selmas's partner bank Saxo Bank (Switzerland) on a case-by-case basis.

And what happens with your pillar 3a?

A permanent move outside of Switzerland would enable you to prematurely withdraw your pillar 3a investments. Alternatively, you can also leave your money invested in your pillar 3a account and only withdraw somewhen in the future. Partial payouts are not possible, even when you move. You can also not deposit new money into the pillar 3a account once you have moved away from Switzerland.

What do I have to do now?

Please let us know once you have concrete plans where you want to move to, so we can have a closer look. Also, once you move, please contact us in order to update your address.

As always, please reach out via chat and email in case you have any further questions.


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