Buying property in Switzerland as a foreigner: the Lex Koller guide

A chalet in Verbier, an apartment in Montreux, a villa on Lake Geneva: Switzerland attracts buyers from all over the world — but access to its residential property is governed by a federal act every foreign buyer should understand before starting a search. Here is, plainly, what the Lex Koller allows, what it restricts, and how to buy by the rules.

What is the Lex Koller?

The Federal Act on the Acquisition of Real Estate by Persons Abroad (LFAIE, known as the “Lex Koller”) makes the purchase of residential property in Switzerland by persons domiciled abroad subject to authorisation. The principle is simple: without a legal exemption or a permit, no acquisition — a deal concluded in breach of the act is void. The notary systematically checks the buyer’s status before executing the deed.

Who can buy without a permit?

Far more people than commonly assumed. The following are not treated as “persons abroad”: EU and EFTA nationals domiciled in Switzerland, and holders of a C settlement permit of any nationality — all of them buy freely, exactly like Swiss citizens. Non-EU/EFTA nationals holding a B permit may acquire their primary residence without authorisation, at their actual place of residence, for their own use.

Another wide-open door: commercial real estate. Offices, workshops, retail, hotels — property used as a permanent business establishment can be acquired without authorisation, even by an investor domiciled abroad. Only housing is protected by the act.

Holiday homes: the quota and the limits

For a person domiciled abroad without a Swiss permit, buying a holiday home remains possible — but only in tourist municipalities designated by the cantons, and within an annual federal quota. Resorts in the cantons of Vaud, Valais (Verbier, Crans-Montana…) and Bern (Gstaad…) qualify; the canton of Geneva, by contrast, issues no holiday-home authorisations.

On top of these rules sits the Lex Weber, which caps second homes at 20% of each municipality’s housing stock and sharply limits new construction in the resorts — a framework that strengthens, year after year, the value of existing properties.

Pitfalls to avoid

Workarounds do not work: buying through a Swiss company controlled by persons abroad remains subject to the act, and an acquisition made without a required permit is void. Cantons may also impose additional restrictions of their own — which is why your personal situation should be validated upfront, before you fall for a property. That is precisely what the first confidential conversation is for.

How OFFER assists international buyers

The Swiss high-end market is largely off-market: the finest properties are never listed. An OFFER search mandate opens access to this invisible market — with, for international buyers, a Lex Koller check of your situation from day one, in coordination with notaries and lawyers. To size up the market: our 2026 off-market report (in French).

General information based on the LFAIE and its ordinance, as of 2026. Every situation (nationality, permit, canton, acquisition structure) deserves individual analysis — this guide is no substitute for legal or notarial advice.