Arguing that “the wealthiest get the best deal”, Switzerland’s Green Party is reattempting to abolish the country’s Golden Visa Program.
Green Party parliamentarian Balthasar Glättli recently mentioned some of the reasons why this program must be terminated, Schengen.News reports.
What bothers me is that not everyone is treated equally under immigration law. The wealthiest get the best deal.
He expressed his concerns that the scheme could bring oligarchs and other undesirables to the country, according to a report from SRF.
Russians and Chinese continue to top the list of recipients. We all know that in these countries you can’t get rich without pleasing the regime.
496 People Currently Hold a Golden Visa in Switzerland
The Golden Visa Program of Switzerland offers residency to wealthy non-EU nationals in exchange for financial investments and some other requirements.
The price of a golden visa varies depending on the canton of residency. While the price in Obwalden is CHF250,000(€256,000), in Zurich it costs at least CHF1 million (€1,070,370).
According to the statistics from the Swiss Secretariat for Migration, at present, a total of 496 people hold a Golden Visa in Switzerland. The figures are up from 404 held in 2022.
Authorities in Switzerland introduced the Residence-by-Investment scheme in 2008, in order to attract wealthy nationals from countries outside the bloc. Those benefiting from this scheme are granted residency, which can be converted into citizenship after at least ten years.
Switzerland also offers residence options to wealthy entrepreneurs who plan to start businesses in this country. In addition, many Swiss cantons offer special flat-tax agreements for wealthy foreign nationals who don’t earn money within Switzerland.
The Golden visas are also designed for wealthy entrepreneurs interested in running businesses from Switzerland. Besides, Swiss cantons also offer special flat tax deals to investors, as long as they don’t earn money from work inside Swiss territory.
“Immigration Is Needed in Switzerland”
In contrast to the Swiss Green Party, the right-wing Swiss People’s Party considers the scheme beneficial, emphasising the need for immigrants in this country, according to the SRF report.
We need immigration that benefits society as a whole and the economy. And that is certainly the case with these people
At present, several European Union countries offer Golden Visa Programs for wealthy non-EU nationals. However, these programs are often criticised for their involvement in irregular affairs such as money laundering and corruption.
