Swiss Greens Renew Push to End Golden Visa Scheme, Citing Inequality and Risk of Oligarch Influence

The Swiss Green Party is once again pushing to abolish the country’s Golden Visa program, arguing that the scheme unfairly privileges the wealthy and exposes Switzerland to questionable foreign influence. Green Party MP Balthasar Glättli has raised several objections to the residence-by-investment system, stating that it creates double standards in Swiss immigration policy. “What bothers me is that not everyone is treated equally under immigration law. The wealthiest get the best deal,” Glättli told SRF.

Glättli further voiced concern that the scheme risks opening the country to powerful elites from authoritarian regimes. “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,” he said. The Green MP emphasized that this dynamic could lead to oligarchs and other “undesirables” gaining access to Swiss residency under lenient terms.

According to data released by the Swiss Secretariat for Migration, 496 individuals currently hold a Swiss Golden Visa, marking a noticeable increase from the 404 holders reported in 2022. The Golden Visa system, formally introduced in 2008, grants residency to wealthy non-EU nationals in return for financial investments. The scheme was launched as a means to attract affluent foreigners, and residency under this framework can potentially lead to Swiss citizenship after a minimum of ten years.

The cost of obtaining a Golden Visa in Switzerland is determined by the canton in which the applicant wishes to reside. In Obwalden, the minimum investment stands at CHF250,000 (approximately €256,000), while in Zurich the price tag climbs to at least CHF1 million (€1,070,370).

In addition to the Golden Visa offering, Switzerland provides residence opportunities to high-net-worth entrepreneurs planning to establish businesses within the country. Several cantons further extend special flat-tax agreements to wealthy foreign nationals, provided that these individuals do not derive their income from employment in Switzerland. The Golden Visa framework is also geared toward investors wishing to manage their business operations from within Swiss borders, while benefiting from the nation’s favorable fiscal environment.

While the Green Party voices strong opposition to the program, members of the right-wing Swiss People’s Party defend its merits. According to a report from SRF, MP Barbara Steinemann argued that the scheme contributes positively to Swiss society and its economic landscape. “We need immigration that benefits society as a whole and the economy. And that is certainly the case with these people,” Steinemann said.

Currently, a number of European Union countries maintain their own Golden Visa programs for wealthy third-country nationals, although such schemes have come under mounting criticism over the years. Allegations of corruption, money laundering, and irregular financial dealings have plagued many of these initiatives, sparking broader debates over the ethics and risks of offering residency in exchange for capital.

By fLEXI tEAM