Legal Aspects to scrutinize when you buy chalet in Switzerland
Switzerland is often termed as the skiing paradise of the earth and a single trip to this mesmerizing destination naturally wouldn’t suffice. Once you visit these eclectic snowy terrains and enjoy breathtaking skiing escapades, it would be difficult to stay away from it for long. Therefore, the decision to buy chalet in Switzerland seems like a wise one. It would always be better to own a property in your name, instead of spending uselessly on hotel tariffs and chalet rentals, every time you wish to pay a visit.
Buying Property in Switzerland - Some Essential Facts
Your decision to invest in property in Switzerland should be an informed one however. There could be some salient legal and regulatory factors to take note of before sealing the purchase. For instance, you must know, that right after you buy apartment in Switzerland, the Swiss Law advises you to have a will in place and have it lodged with the aid of a notary.
Remember, there are certain cantons in Switzerland which might not allow you to sell the property you buy, for the next 5 to 10 years. Therefore, if you have reselling on your mind, make sure you consider these aspects in advance.
You would also be required to factor in your property purchase costs by your buyers. These would include purchase taxes levied by the Government, fees for land registry and notary fees. The amounts and percentages for each would vary from one canton to the other. Mortgages would be offered by the Swiss Bank. However, the interest rates offered would not be lucrative enough.
When you choose to buy a chalet for sale in Switzerland, property taxes and norms pertaining to capital gains taxes would also be applicable. You need to check on these as well before considering the deal.
Buying Apartments in Switzerland - A Word of Caution
Before you take the final call on your deal of property purchase, make sure you arrange a meeting with the local notary and have all legal and tax related facts clarified, before finalizing the transaction.