The Swiss Federal Act on Acquisition of Real Estate by Persons Abroad (the so-called Lex Koller) restricts the acquisition of Swiss residential and other non-commercial real estate by foreign (non-Swiss) persons. Since its inception in 1983 (similar laws existed as from the 1960s) the Lex Koller has been liberalised in several aspects. However, it has been highly debated in recent years whether the Lex Koller should be abolished altogether or made even stricter. This article examines: the liberalisation of the Lex Koller over time; the significance of the Lex Koller for transactions; and when the Lex Koller rules apply.

This article is part of the global guide to corporate real estate law www.practicallaw.com/realestate-guide.