Switzerland Considers Abolishing Its Golden Visa: Prestigious Investor Scheme Under Fire

Amid rising millionaire migration and growing pressure from the EU, Switzerland has found itself at the heart of a political debate. Calls to abolish the country’s golden visa program are gaining momentum, according to Swissinfo. In recent years, the number of residence permits granted under the investment residency scheme has steadily increased.

According to the State Secretariat for Migration (SEM), 496 individuals currently hold a golden visa in Switzerland, compared to 404 in 2022. The program, in place since 2008, is exclusively available to non-EU/EFTA nationals who contribute significantly to the Swiss economy. Required investment amounts vary by canton — from CHF 250,000 in Obwalden to CHF 1 million in Zurich. In return, successful applicants receive long-term residency, which can lead to citizenship after 10 years.

Who’s Applying for Swiss Golden Visas?

The largest number of golden visas has been issued to:

Russia – 94

China – 51

United Kingdom – 49

United States – 38

Canada – 19

The high share of applicants from geopolitically unstable countries or strict tax regimes underlines the growing global appeal of Swiss residency. Notably, while many EU countries have imposed restrictions on Russian applicants, Switzerland has not yet joined these measures, making it one of the last European destinations still accessible to Russian nationals.

Opposition Grows

The Green Party is leading the charge against the program. MP Balthasar Glättli argues that golden visas reinforce inequality:

"It bothers me that immigration law does not treat everyone equally. The richest get the best deals,"
he told SRF, adding that such schemes open the door to dubious individuals — particularly oligarchs from Russia and China.
"Everyone knows you can’t become rich in these countries without regime loyalty."

This is not the first attempt by left-leaning parties to dismantle the program. While previous efforts failed, increased EU scrutiny and shifting public sentiment have revived the discussion.

Conservative Backing

Surprisingly, the Swiss People’s Party (SVP) — usually against mass immigration — supports the scheme. MP Barbara Steinemann stated:

“We need immigration that benefits society and the economy. This is exactly such a case.”

She emphasized that wealthy foreigners contribute to tax revenues, do not rely on welfare, and do not compete for jobs. In many cases, applicants negotiate fixed tax agreements with cantonal authorities, provided they do not earn Swiss-sourced income.

International Pressure

Switzerland is not the only country offering investment-based residency. However, in recent years, the EU and OECD have tightened their stance on CBI and RBI programs, citing money laundering risks.

Several countries have already phased out such programs.

Migration of Millionaires Continues

Political risk, tax instability, and concerns over personal security continue to push wealthy individuals to seek new residencies. According to Henley & Partners, more than 128,000 millionaires migrated in 2024.

Top destinations:

UAE – 6,700

USA – 3,800

Singapore – 3,500

Canada – 3,200

Australia – 2,500

Italy – 2,200

Switzerland – 1,500

Also popular: Greece (1,200), Portugal (800), Japan (400)

New Zealand also saw a spike: 53 golden visa applications in one month, compared to 115 in the previous three years.

What’s Next for Switzerland?

The Swiss government has yet to formally commit to ending the program, but political signals suggest change is likely. Critics point to inequality and reputational risks, warning that Switzerland could jeopardize its image as a transparent and neutral jurisdiction.

If pressure from within the country and abroad intensifies, Switzerland may be forced to reconsider one of its most prestigious — and profitable — investment migration options.