Switzerland: Russians & Chinese Nationals Top Golden Visa Recipients in 2024

Switzerland has recorded a significant rise in the number of residency permits issued under its Golden Visa Program. According to the State Secretariat for Migration (SEM), a total of 496 individuals currently hold residency-by-investment permits — an increase of over 90 individuals from 2022. Russian and Chinese nationals remain the top beneficiaries, sparking renewed calls to end the program.

What is the Swiss Golden Visa Program?

Launched in 2008, the Swiss Residency-by-Investment scheme allows wealthy non-EU nationals to obtain residence in exchange for substantial economic contribution. The required investment depends on the canton — CHF 250,000 (€256,000) in Obwalden, but at least CHF 1 million (€1,070,000) in Zurich.

Applicants gain residency rights, which can lead to Swiss citizenship after ten years of uninterrupted residence.

Top Nationalities

According to 2024 data from SEM, the top recipients are:
- Russia (the largest group)
- China
- United Kingdom
- Canada

Notably, Switzerland has not imposed equivalent bans Russian citizens.

Political Pressure to End the Program

Despite its economic benefits, the program faces growing political opposition. The Swiss Green Party has recently renewed its campaign to abolish the scheme.

“What bothers me is that not everyone is treated equally under immigration law. The wealthiest get the best deal,” said Green MP Balthasar Glättli.

He also argued that the scheme gives residence to oligarchs.

What’s Next?

While the program remains operational, public scrutiny and political calls for reform are rising. The Swiss case follows a broader European trend — countries like Ireland, Portugal, and Spain have already scrapped their Golden Visa programs under EU pressure over transparency and security concerns.