Essential Insights for UK Non-Doms Planning International Relocation
Until 2025, the UK has been an attractive destination for non-UK domiciled individuals (non-doms) due to its favourable remittance basis tax regime. This regime allowed non-doms to only pay UK tax on their UK income and on foreign income and gains that were remitted to the UK, making it an appealing option for many. However, the landscape is shifting.
Where We Are Now
On 30th October 2024, Chancellor of the Exchequer, Rachel Reeves, delivered the Autumn Budget which announced several changes that impact the advantages previously enjoyed by non-doms. From 6th April 2025, the existing non-dom regime ended and the concept of domicile as a relevant connecting factor in the current tax system was replaced by a system based on tax residence.
However, since the changes were announced, the Chancellor went on to prepare an amendment to the Finance Bill after a mass exodus of millionaires from the UK. The review will make it easier for non-doms to bring money to the UK, without paying heavy taxes. These changes will be made to the Temporary Repatriation Facility, a 3-year scheme to help ex non-doms bring their assets to the UK at a discounted tax rate. There are also plans to ensure that any tax changes do not affect countries with double taxation agreements with the UK, designed to stop HNWIs from paying tax in both countries at the same time.
An Overview of the Changes
The 4-year foreign income and gains regime will come into effect for anyone who has not been resident in the UK in the previous 10 tax years. The transitional provision reducing foreign income by 50% will not be introduced.
Transitional provisions reducing the tax rates on previously unremitted income and gains will be introduced. Details on which can be found here.
There will be a reform of the inheritance tax regime with changes to be made from the 6th April 2025 to include:
- A 10-year residence test, after which global assets will be subject to UK inheritance tax;
- Excluded property trusts within the UK IHT net, so that everyone who is in scope of UK IHT will have their assets subject to UK IHT.
The freeze on inheritance tax thresholds will be extended for a further two years, until 2030. This means that the first £325,000 of any estate can be inherited tax-free, rising to £500,000 if the estate includes a residence that has been passed to direct descendants, and £1 million when a tax-free allowance is passed to a surviving spouse or civil partner.
Exploring Residency Abroad
At Dixcart, we excel in simplifying the complexities and challenges of relocating to a new country. Our cohesive network of offices around the world ensures a seamless experience, providing you with comprehensive support every step of the way. From your initial decision to move from your current home, through to settling into your new home, Dixcart’s expert team collaborates across our multiple jurisdictions to offer you a unified and smooth transition.
Each Dixcart office location provides unique benefits tailored to your needs. Below, you will find a summary of these advantages. Click on the country below to discover the specific services and support we offer, ensuring your move is as effortless and efficient as possible.
To learn more on what to consider when exit planning in the UK, read our article: Ceasing to be UK Tax Resident – Don’t Get it Wrong!
Cyprus
There are two routes to tax residency in Cyprus. The 183-day rule and the 60-day rule.
The 183-day rule is the simplest of the two. And has only one requirement; you must legally reside in the republic of Cyprus for 183 days in a tax year. After which you are considered a tax resident.
To be considered a tax resident after 60 days you are required to:
- Legally reside in Cyprus for at least 60 days
- Operate/run a business in Cyprus and/or are employed in Cyprus and/or are a director of a company which is tax resident in Cyprus
- Have a residential property in Cyprus which they own or rent
- Are not tax resident in any other country
- Do not reside in any other single country for a period exceeding 183 days in aggregate
Cyprus tax residents are taxed on their worldwide income.
A special taxation regime is available for Non-Domicile individuals. This Non-Domicile regime is available for 17 years from the first tax year you become tax resident.
Individuals who qualify under the Non-Domicile regime are exempt from taxation from the following sources of income:
- Interest
- Dividends
- Capital gains (apart from Immovable Property in Cyprus – subject to a partial exemption on newly acquired property)
- Capital sums received from pension, provident and insurance funds.
The above are subject to 2.65% contribution to the General Healthcare System (GHS). The contributions to GHS are capped at €180,000 of total annual income – e.g. a max annual contribution of €4,770.
Non-Doms are also entitled to an income tax exemption equal to 50% on their salary provided their job is their first form of employment in Cyprus and they earn over €55,000 a year.
Yes, a tax residency certificate is attainable and can be issued after the specific requested amount of days spent in Cyprus. Days in and out of Cyprus must be justified by airway tickets and proof of local spending.
The certificate usually can be issued in 5-10 working days after the application is filed. Provided that all the required documentation is in order.
Yes, there is a sliding scale for regular income ranging from 20% to 35%, with the first €19,500 of income being tax-free. However as mentioned earlier it is often the case that your income will fall within one of the exempt income categories under the Non-Domicile regime.
As a Non-Domicile you will not be taxed on capital gains unless they are on gains arising from the sale of a Cyprus property. This is taxed at the rate of 20%, and is imposed on gains arising from the disposal of immovable property situated in Cyprus, or the disposal of shares in companies that directly own Cyprus-situated immovable property.
There is no inheritance tax, wealth tax or gift tax in Cyprus.
Provided the distribution is received in the form of interest or dividends then this income would be exempt from personal income tax but subject to the 2.65% contribution to GHS previously mentioned.
Provided the distribution is received in the form of interest or dividends then this income would be exempt from personal income tax.
For 3rd country nationals the main visa routes are through a Permanent Residency Permit (PRP) or if you are a highly qualified individual through the establishment of a Cyprus entity called a Foreign Interest Company (FIC). There are other more specific options available but these are highly specific and include slow track procedures with lower investment amounts.
Depending on your level of Greek and the visa route you have chosen, residency through naturalisation is possible after 4 years. Without knowledge of the Greek language an individual can achieve Cyprus citizenship after a period of legal residency of 7 years in Cyprus.
Non-EU citizens must seek the approval of the Council of Ministers before they can own any type of immovable property. Furthermore, unless there are exceptional circumstances, their ownership will be limited to:
- An apartment
- A house
- A building plot or land up to approximately 4,014 sq.m.
It is unusual for the Council of Ministers to refuse permission to bona fide foreign nationals.
EU Citizens, including those of the European Economic Area (EEA), have the same property ownership rights as Cypriot citizens. They can freely buy and own property in Cyprus without the above restrictions.
Provided that you have the required documentation opening a bank account in Cyprus is comparatively pain free when comparing the processes to other jurisdictions.
No, Cyprus is a member of the EU and as a result ensures that its legislation complies with all EU Directives and so is listed as fully OECD compliant.
Cyprus is located in the east of the Mediterranean Sea and as a result enjoys all the benefits of the 320+ sunny days a year that comes with its global location as well as being perfectly situated for international travel. We sit at the crossroads of three continents and have 2 international airports with daily flights to Europe, the Middle East, Africa and Asia. With Hubs such as Dubai, Doha and Abu Dhabi only 4 hours away.
Recently the local government has invested in developing its National Healthcare System and as a result healthcare in Cyprus is of a very high standard. It is recognised by the World Health Organisation as being of the same level as developed countries such as the UK and Canada.
Cyprus has great options for education. There is a large population of expats that make up roughly 22% of the total population and as a result there are a number of private international schools that teach in English. In addition to the state run schools that teach in Greek.
Cyprus is the 3rd largest of the Mediterranean islands at over 9,000 km², and the 3rd most populated with a population of over 1.2 million. Nicosia is the centrally located capital, but Limassol is the growing financial hub that has been referred to as “little Dubai” with is modern tower blocks overlooking the crystal waters of the bay. In addition to its cities Cyprus boasts some beautiful wild areas with 10 national parks, including the stunning Trodos mountains.
Because of this wide variety of urban and rural areas Cyprus has fantastic options when deciding where you want to live. Whether it be a modern sea view apartment, a house with a pool in a gated community or a beautiful cottage in a village, Cyprus has every option under the sun and more.
Guernsey
An individual will be treated as “resident” if they are in Guernsey for 91 days or more in a calendar year, or if they are in the island for 35 days or more and they have been in Guernsey for at least 365 days in the previous 4 years.
They will be treated as “solely resident” so long as they are resident as shown above and they are not resident anywhere else in that year (and for this purpose they will be treated as being resident somewhere else if they spend 91 days or more in that place).
Finally they will be treated as “principally resident” if they are:
- In Guernsey for 182 days or more
- In Guernsey for 91 days or more and have been in the island for 730 days in the previous 4 years
Additionally they will also be treated a “principally resident” if they move to the island to take up permanent residence and they are resident in Guernsey (as shown above) and they are solely or principally resident (as shown above) in the year after they arrive and they were not resident in Guernsey in the year before they arrive to take up permanent residence in the island.
If you are resident, but not solely or principally resident, in Guernsey, you will pay tax on your total income, wherever that income may come from, unless you elect to pay the standard charge (or if you are in Guernsey just for work *). If you don’t elect to pay the standard charge, you will be entitled to a proportion of the personal allowances based on the number of days you spend in the island.
*If the sole or main purpose for you being in Guernsey is to work and (other than bank interest) all your income is from this employment, you will only have to pay tax on your Guernsey income and any other income brought into the island. You will get a proportion of the personal allowance based on the number of weeks you are in Guernsey.
If you elect to pay the standard charge (£40,000 from 2021, previously £30,000) you won’t have to pay further tax on your non-Guernsey source income, but you will need to pay tax on your Guernsey income (other than bank deposit interest). The standard charge paid can be set-off against the tax due on your Guernsey income, as shown in the examples below. If you elect to pay the standard charge you will not be due any allowances, reliefs or deductions.
Unknown
Yes, Guernsey does have income tax.
No, Guernsey does not have local capital gains tax.
No, Guernsey does not have Inheritance tax.
If it is a non-Guernsey trust then on a remittance basis.
Transparent.
Guernsey have the same main visa routes as the UK.
Guernsey have the same routes to citizenship as the UK.
Yes, Guernsey have property purchase restrictions.
Once you are a resident, opening a local bank account is relatively easy.
No, Guernsey is not on any blacklists.
Good standard of education and health services.
Connectivity through UK.
Isle of Man
An individual is considered a tax resident in the Isle of Man from the date they arrive if they intend to live on the island. Additionally, there are specific day-count tests to determine tax residence. If someone spends more than six months in the Isle of Man during the tax year, they are considered a resident. Alternatively, if an individual spends over 90 days on average per tax year across any four consecutive tax years, they may also be regarded as a resident. New residents must register with the Isle of Man Income Tax Division upon arrival, regardless of their income level.
There is no remittance basis of taxation in the Isle of Man. Individuals are taxed on their worldwide income. However, the primary direct taxes for new residents are income tax and national insurance. There are no capital taxes, meaning chargeable gains can be realised without Isle of Man tax, and there are no gift or inheritance taxes.
Individuals who are resident in the Isle of Man for income tax purposes are able to cap their income tax liability at £220,000 per year (£440,00 for a jointly assessed couple) for five (or ten) consecutive years if their income is substantial, which effectively lowers the overall tax rate. This tax cap election needs to be made before the beginning of the first applicable tax year.
The Tax Cap amount is due and payable on 6 January in each tax year for which an election applies. Alternatively, for those who are looking for flexibility without a five or ten year cap election, the standard and higher personal tax rates are some of the lowest in Europe.
Yes, a tax residency certificate can be obtained by a taxpayer who has filed form R25 “Registration for Manx Income Tax”. The Income Tax Division will usually reply to enquiries within days.
Yes. Personal allowances and certain tax-deductible payments, such as pension contributions for example, can reduce your taxable income for the year, and income tax is charged at the 10% and 21% rates.
There is no local capital gains tax in the Isle of Man.
The Isle of Man does not have an inheritance tax. However, if you move from the UK to the Isle of Man intending to live there permanently, your exposure to UK inheritance tax might be reduced or eliminated. Under the proposed UK rules once an individual loses their long-term UK tax residence (which will take between 3 and 10 years) then only their UK situs assets are exposed to UK Inheritance tax.
Residents of the Isle of Man are taxed on their worldwide income, including distributions from offshore trusts. The income is subject to tax rates up to 21%, after accounting for any available allowances.
Distributions from Isle of Man trusts received by residents are subject to income tax, with applicable allowances, at rates up to 21%.
No. There are no restrictions on purchasing property in the Isle of Man and no stamp duty or inheritance tax.
Opening a local bank account in the Isle of Man is straightforward, with major UK banks such as Barclays, RBSI, HSBC, NatWest, and Santander having a presence on the island. Banking services are available once residency is established.
The Isle of Man is on the OECD whitelist and is recognised for its global compliance. It is widely regarded as a well-regulated, business-friendly jurisdiction by major international entities. However, some territories, such as Portugal, may consider it a tax haven due to its 0% tax rates.
Infrastructure and Services
The Isle of Man offers individuals and businesses a range of attractive features, including:
Public Services and Infrastructure
- Regular travel links to 11 destinations, including Birmingham, Bristol, Dublin, Edinburgh, London, Liverpool, and Manchester.
- A wide range of well-funded public services available on Island, including healthcare and public transport.
- A comprehensive range of private healthcare services are available on Isle of Man.
- The Isle of Man has a well-regarded education system with a large number pre-schools, 32 state run primary schools and 5 secondary schools. In addition, the island has a private primary and secondary school provider. The curriculum content is largely drawn from the English national curriculum. There are also options for higher education on the Island at the University College Isle of Man and support available for university study off-island.
Professional Services
- All big 4 UK banks have a presence on the Island, including Barclays, HSBC, Lloyds and NatWest Group.
- All big 4 accounting firms have a presence on the Island and a wide range of independent Tax Advisers on hand.
- A large number of legal services providers, offering Isle of Man Advocates that are often dual Isle of Man / UK qualified.
- Over 70 licensed and regulated Trust & Corporate Service Providers.
- A selection of local telecoms providers, IT services and data centres.
- Investment Managers, Pension Administrators, Insurance companies and more.
Culture and Quality of Life
- The Isle of Man is an outward looking and progressive society with a multicultural population of approximately 85k and a rich and unique cultural heritage.
- The 572 km2 Island can boast of being the world’s only ‘Entire Nation’ UNESCO Biosphere, owing to its culture, natural environment and approach to conservation.
- Safety and quality of life are at the centre of the Isle of Man proposition.
- The Isle of Man offers plenty of open space and diversity of landscape, with windswept uplands, lush managed woodlands and sandy beaches.
- Home of the world-famous TT Races, taking place on a approx. 37-mile circuit over public roads. The fastest average speed of over the course is 135.452mph and reaches top speeds of over 200mph. It is a time when the whole island comes to life and is a must see for motorsports fans.
Malta
Individuals must:
- Have a Maltese Tax Identification Number
- Have a residential address
- Show that they spent 183 days or more on the island
- Provide the following supporting documents:
- Completed Malta Tax Residence Form (signed)
- Covering letter as to why the certificate is required and to whom it must be addressed
- Proof of accommodation (lease agreement/purchase contract)
- Proof of any taxes paid in Malta
- Maltese Residence Card
- 12 months bank statements showing transactions incurred in Malta
- 12 months Water & Electricity bill showing usage
- Public transport card number (if available)
- Name of General Practitioner in Malta
Malta offers remittance basis of taxation to all Residents that are not deemed to be domiciled in Malta.
a. Income NOT remitted to Malta is not taxed,
b. Capital Remitted or NOT remitted to Malta is not taxed
c. Income remitted to Malta is taxed
Rates vary depending if the individual is Ordinarily Resident in Malta (sliding scale 0%-35%) or not (sliding scale ramping up to 35% quickly)
It is possible to apply for a tax residence certificate after residing in Malta for 183 days.
Malta sourced income or income remitted to Malta is taxed based on the status of the individual.
Ordinarily Resident – Taxed on a sliding scale
Not Ordinarily Resident – Taxed on a sliding scale
Generally speaking there is no local capital gains tax.
On the sale of property in Malta there is a final withholding tax of 8%
There is no Inheritance Tax in Malta.
Remittance basis of taxation.
The nature of the distribution is considered – Income will be taxed, Capital will not be taxed
Distributions from local trusts are seen as Malta Source and as such will be taxed in terms of the status of the individual:
Ordinarily Resident – Taxed on a sliding scale
Not Ordinarily Resident – Taxed on a sliding scale
Malta has 6 Residence Routes for third-country nationals
The top 3 routes:
– Malta Permanent Residence,
– The Global Residence Programme, and
– The Retirement Programme
Dixcart Management Malta Limited Licence Number: AKM-DIXC
Citizenship by Naturalisation for Exceptional Services by Direct Investment is the most popular route to obtaining Maltese Citizenship. Naturalisation by residing in Malta is usually only granted after 20 years on the island. Please contact advice.malta@dixcart.com for more information.
Dixcart Management Malta Limited Licence Number: AKM-DIXC
Third-country nationals may only own 1 property in their personal name, unless the property is in a designated zone.
EU Nationals may only own 1 property in their personal name, unless the property is in a designated zone in the first 5 years of residence. Following the first 5 years of residence, EU Nationals may own multiple properties.
It is possible to open a bank account with a local bank provided that the individual can show that they have ties with the island.
Malta is not on any grey or black lists.
- English is an official language
- There are several types of schools (Church, Public and Private)
- Malta has one of the oldest universities in the world – founded in 1592.
- Malta has an excellent health care system – Statista.com rated Malta #19 worldwide.
- Malta hosts a big international community, with a mix of different nationalities and cultures.
- Ease of travel:
- Malta has a National Carrier (KM Malta Airlines) that flies directly to several destinations
- Turkish Airlines, Emirates, British Airways, EasyJet, RyanAir, Lufthansa and several others fly in most cases daily flights to and from Malta
Portugal
As a general rule, an individual is considered tax resident in Portugal if:
- Present in Portugal for more than 183 days, consecutive or otherwise, in any 12-month period starting or ending in the calendar year concerned.
- Regardless of any day spend, maintains in Portugal a residence with the intention of keeping it as one’s primary residence.
The Non-Habitual Resident (NHR) programme is a source-based tax regime (rather than remittance based). Despite various changes, following the budget released in December 2024, individuals may register under the revised programme (IFICI (Incentive for Scientific Research and Innovation), or informally known as NHR 2.0), for individuals who became tax resident on or after 1 January 2024.
The key benefits, available for 10 calendar years from the time of tax residency in Portugal, is summarised as follows:
- 20% flat tax rate on qualifying Portuguese income.
- Exclusion from tax for foreign-sourced business profits, employment, royalties, dividends, interest, rents, and capital gains.
- Only foreign pensions and income from blacklisted jurisdictions remain taxable
Please refer to the following link for more details.
In Portugal, you can apply for a tax residency certificate under a Double Taxation Agreement once you meet the residency requirements with a processing time of one day.
Portugal has income tax that applies to Portuguese tax residents on their worldwide income. This tax uses progressive rates ranging from 13.25% to 48% (with a potential additional solidarity tax of up to 5% for higher earners) – unless subject to the NHR (referred above).
Yes, and generally, capital gains tax is subject to a flat rate of 28% (unless subject to the NHR). However:
- No capital gains tax applies when selling your primary or main residence in Portugal – provided you reinvest in a primary home within 36 months after the sale or 24 months before in another home in Portugal, within the European Union or European Economic Area that has a tax treaty with Portugal.
- 50% of capital gains arising on the sale of shares held on micro and small companies not listed in the stock exchange will be subject to taxation.
While Portugal doesn’t have a traditional inheritance tax, it does apply a stamp duty called Imposto de Selo on assets inherited or received as a lifetime gift. This tax is applied to specific assets, such as property located in Portugal.
The general stamp duty tax rate is 10%, but there are exemptions for close family members such as spouses, children (including adopted children), grandchildren, parents, and grandparents.
Please refer to the following link for more details.
Distributions are typically taxed at 35% as investment income. Amounts paid to beneficiaries who are not the settlor may be subject to stamp duty of 10% (with a surtax of 0.8% for real estate assets located in Portugal) for the liquidation, revocation, or extinction of fiduciary structures.
Distributions are typically taxed at 28% as investment income. Amounts paid to beneficiaries who are not the settlor may be subject to stamp duty of 10% (with a surtax of 0.8% for real estate assets located in Portugal) for the liquidation, revocation, or extinction of fiduciary structures.
Various visa options exist in Portugal to cater for every personal need. Below provides a comparative summary of the more popular routes:
- Golden Visa
- D2 Visa
- D7 Visa
- Digital Nomad Visa
Read here for more information.
Portugal offers several paths to citizenship, including:
- Residency: Living legally in Portugal for at least 5 years can qualify you for citizenship.
- Descent: If you have at least 1 Portuguese grandparent or are a descent of Sephardic Jews.
- Other routes: Marriage to a Portuguese citizen (usually 3 years) or investment through the Golden Visa programme can also be paths to citizenship.
No, there are generally no restrictions on foreign nationals purchasing property in Portugal. However, if you intend to reside in Portugal, you may need to obtain a residency permit depending on your situation.
Opening a local bank account in Portugal is considered relatively easy for residents. They typically require documents like proof of ID, address, NIF (tax number), and possibly pay slips. Several banks operate in Portugal, including international brands like Santander, Barclays, BNP Paribas, Citibank, Deutsche Bank. Local banks available include, among others, Millenium, Caixa Geral de Depósitos, Novo Banco, ActivoBank.
No, Portugal is a member of the EU and OECD, and as a result ensures that its legislation complies with all EU Directives.
Portugal offers a wealth of lifestyle benefits that complement its tax advantages:
- Cost of Living: Compared to many Western European countries, Portugal offers a lower cost of living, allowing you to stretch your budget further.
- Climate: The country enjoys a warm Mediterranean climate, perfect for outdoor enthusiasts and those seeking sunshine year-round.
- Safety: Portugal is renowned for its safety, boasting low crime rates and a peaceful atmosphere.
- Rich Culture and History: Steeped in history and vibrant culture, Portugal offers a unique blend of tradition and modernity.
- Proximity to Europe: Portugal’s location allows for easy travel to other European destinations. Additionally, the country has a well-developed internal transportation network of buses and trains, making it easy to get around. International travel is also facilitated by several airports with connections to many global destinations.
- Education: Portugal has a public education system with private schools also available (including various international schools, including English, German and French).
- Healthcare: Portugal offers both public and private healthcare options. Public healthcare is generally good, however, private healthcare is also widely available.
Switzerland
The Minimum day requirement in Switzerland is 180 days.
The lump sum taxation ruling agreed with the cantonal tax authority. Instead of paying taxes on actual inc and assets, the basis of taxation is calculated according to the living expense. Negotiated with the tax authority.
- Non Swiss national first time in the country or after an absence of 10 years
- Non gainful activity in Sw. (but member of BOD accepted and managing his/her own investment portfolio are both accepted). Gainful activity outside of Sw. accepted.
- Ad eternam as long as the conditions are fulfilled.
- Each canton has a min. threshold of basis of taxation. To be checked.
Yes for the tax residency certificate.
DTA are applicable but some jurisdictions impose conditions (France, Germany, Italy, Austria, USA, Norway, Canada, Belgium). To be check in case of new updates.
Apply as soon as possible, if possible even before moving or while moving.
Yes (standard individual tax rates between 20% to 30% in principle).
No Switzerland does not have Local Capital Gains Tax.
Inheritance tax in Switzerland depends on the canton.
Income tax or inheritance/donation tax depends on the situation.
For tax purposes, trusts are treated as transparent entities in Switzerland. In a nutshell: Where the settlor is not taxable in Switzerland, the trust’s assets are not taxable in Switzerland. Same for the beneficiaries.
The advantages are limited when the settlor or the beneficiaries are resident in Switzerland. As the settlement itself has no tax relevance and is treated as a look through, the income and assets of the trust remain taxable with the settlor. Distributions to beneficiaries during the settlor’s lifetime are considered gifts from the settlor and may trigger gift tax. In the event of the settlors death, inheritance or gift tax is determined. It is, however, possible to get advanced tax rulings on trusts in Switzerland. This means that anyone planning to relocate to Switzerland is able to settle trusts before their arrival as part of their tax planning.
Two routes:
– Working: the Swiss residence permit is linked to a work permit. The work permit is requested by the employer to the Swiss administration for the employee. The employer has to demonstrate the need for the “non Swiss resident employee” to be hired. If the employee is an EU/EFTA/Schengen it is easy. If the employee is not, the employer has to demonstrate that they were not able to find an employee based in Schengen with similar level of competence. Through the establishment of a Swiss Co or a Swiss branch it can provide an opportunity to show that a specific potential employee has a greater knowledge and skill for the business and the Swiss entity can more “easily” justify the need to hire this specific employee. In appropriate circumstances Dixcart can provide a director of the Swiss Co/branch until the permit is granted.
– Not working: If a foreigner wants to move to Switzerland and not work, they must show they have sufficient funds to live in Switzerland and take out Swiss health and accident insurance. Non-EU/EFTA nationals who want to move to Switzerland, but not to work, are divided into two age categories. Depending on which category the individual falls into (over 55 or under 55), certain criteria must be met.
10 years of residence.
Yes, quota depending on region.
It is very easy for a Swiss Resident and for foreigners living outside of Switzerland with a Private Investment.
Switzerland is not on any grey or black lists