Shares in exchange-listed real estate companies can be freely traded – including by persons abroad.
Persons abroad are prohibited from acquiring residential real estate in Switzerland.
To prevent a real estate company from being regarded as a person (i.e. entity) abroad, the company in question must ensure that the majority of voting rights and shares are held by Swiss nationals or EU/EFTA citizens resident in Switzerland.
As soon as a person or company abroad acquires – either alone, or together with other persons abroad – a sufficiently large number of shares in a real estate company to enable influence to be exerted over management or administration, the company in question may no longer acquire residential real estate or building land suitable for housing.
At least 51% of the shares issued and the voting rights in place must be held by persons who are not deemed to be persons abroad.
No shareholder may hold more than 5% of the remaining 49% of shares issued.