BERN: Wealthy foreigners can buy a residence permit in Switzerland – for now. Political resistance is growing. An exception to the Foreign Nationals and Integration Act makes it possible: Wealthy foreigners can buy a residence permit in Switzerland – with the so-called "golden visa." But the regulation is increasingly coming under political criticism.
While the number of golden visas in Switzerland remained stable or even declined for some time, the trend has changed in recent years, as the "Tages-Anzeiger" recently reported. The number of visas has risen from 354 to just under 500 since 2021 – an increase of over 30 percent, but still at a low level.
Glättli's Second Attempt
Green National Councilor Balthasar Glättli already tried to ban the golden visa three years ago. Without success. Now he's making a new attempt.
Russians and people from China continue to top the list. And we all know: In China and Russia, you can't get rich without pleasing the regime.
Author: Balthasar Glättli, Green Party National Councilor
"What bothers me is that not everyone is treated equally under immigration law. The richest are better off," explains Glättli. He particularly criticizes the origins of the visa holders: "Russians and people from China continue to top the list. And we all know: In China and Russia, you can't get rich without pleasing the regime."
Reputational risk for Switzerland?
The question remains: Is Switzerland a haven for oligarchs and autocrat cronies? Does the golden visa pose a reputational risk? In any case, the EU is discussing its abolition.
But that's no reason for Switzerland to follow suit, says SVP National Councilor Barbara Steinemann: "The EU is generally on the wrong track. And in this respect, too, Brussels must not be the guiding principle; we must confidently and democratically determine our own rules."
Steinemann defends the regulation, although she is otherwise known for her anti-immigration statements: "The SVP is of course not generally against immigration, quite the opposite. We need immigration. And above all, we need immigration that benefits society as a whole and the economy. And that is certainly the case with these individuals."
What is "public interest"?
Since 2008, the legal basis for the golden visa has been a provision according to which cantons may issue a residence permit if there is an "important public interest." What this means is at the discretion of the cantons. For some cantons, additional tax revenue is already sufficient and of important public interest.
Center Party President Gerhard Pfister questions this. It cannot be in the legislature's interest to award golden visas based solely on wealth – that doesn't correspond to the idea of an "important public interest," he says.
I believe a development has already occurred in recent years that prompts me, at least, to examine this question in more detail.
Author: Gerhard Pfister, President of the Center Party
Pfister also calls for a discussion about what falls under the category of "important public interest" and what doesn't. If a super-rich person in Switzerland simply wants to enjoy his retirement, then that is a personal and not a public interest for him.
"I believe a development has already occurred in recent years that prompts me, at least, to examine this question in more detail," explains Pfister.
New majorities in sight?
Glättli should be pleased to hear these quiet tones from the Center Party. If he wants to get his message across this time, he will need a large portion of the Center Party in the National Council and Council of States.
The political battle for the golden visa is entering a new phase.
(srf . ch)
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