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Welcome to our Parli Swiss blog! Today we will look at the unique challenges that foreigners face when buying property in the picturesque Upper Engadine. Despite the legal restrictions on buying property for foreigners, we want to show you how you can make your dream of owning real estate in this sought-after region come true.
The Specific Restrictions - Lex Koller and Square Meter Limitations
The Federal Act on the Acquisition of Land by Persons Abroad (Lex Koller) regulates the acquisition of property for foreigners in Switzerland. This legislation restricts the purchase of real estate by foreign nationals or companies based in Switzerland that are controlled by foreign entities.
Approval by the competent Federal and Cantonal authorities is required and occurs by filling out a 2-page form, the foreign form, where the buyer's personal details and those of the real estate property are indicated. The foreign form confirms the source of the funds and the identity of the buyer as well as the total net square meters of the real estate property.
A foreigner can buy up to a maximum of 200 net square meters.
It is important to know that the net surface area is not equivalent to the gross surface area.
The latter is in fact approximately 20% higher, a foreigner can therefore purchase a real estate #property of up to approximately 240 square meters of gross surface area, thus effectively acquiring more than 200 habitable square meters.
The process for the acquisition of real estate by a #foreigner in our wonderful Engadine is very simple:
The buyer finds the real estate property that he likes the most
The real estate agent, a professional in the sector, takes care of finding the agreement between seller and buyer
Once the agreement is found, the real estate agent contacts the trusted notary who sends the Lafe form to the real estate agent who in turn forwards it to the buyer
The buyer fills out and signs the foreign form and sends it by registered mail directly to the notary with a digital copy to the real estate agent who advances it to the notary
The notary, as soon as he receives the original form, sends it to Bern for identity checks, the source of the buyer's funds and the total net square meters
Once this check has been carried out, Bern affixes its stamp and returns the form now official at federal level to the notary
The buyer can now sign the sales contract and officially become the new owner of the real estate
Conclusions
Strategic planning, knowledge of the laws and collaboration with real estate experts specializing in the Upper Engadine market play a crucial role.
At Parli Swiss we understand the complexity and are your partner for a successful #property acquisition despite legal restrictions.
Contact us for a personal consultation, we are ready to answer your questions and guide you on the path to your dream property.
Arch. Federico Parli
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