retire in Switzerland 🇨🇭

How you can choose to Retire in Switzerland

Many foreigners are looking to spend their post-work lives abroad these days, and Switzerland is an attractive destination for a number of reasons. While it may not be as exotic as other places around the world, the beautiful scenery, high standard of living, and plentiful English speakers make it a great spot for retirees. However, retiring in Switzerland can get pretty pricey, and there are several details you’ll want to have nailed down before you buy plane tickets.

Do you want to retire abroad? Read on.

Average Cost to Retire in Switzerland

The high cost of living is arguably the biggest knock against the prospect of retiring in Switzerland. It’s one of the most expensive countries in the world, especially in the major cities like Geneva and Zürich. Several cost-of-living indexes rank Zürich as the third most expensive city in the world, ahead of even New York City and some have it ranked at the top with Paris, Hong Kong, Tel Aviv, or Singapore.

In order to live comfortably in Switzerland, a single person would need more than US$3,500 per month. However, in the larger cities, a retired couple can expect to pay US$4,000 per month or more just for rent, utilities, food, and healthcare. It’s a good idea to find where you would like to retire and then determine your costs based off of that area before you commit.

To alleviate the overall costs, wages in Switzerland are also quite high. However, as a retiree, you may not be able to benefit from that. Consequently, you’ll need to make sure you have enough money saved up, and you may want to consider smaller, more affordable cities like Bern or Lugano in your search for the perfect retirement destination. Watch Bern here 

Visas in Switzerland For Retirees

Anyone who wishes to stay in Switzerland longer than 90 days will need to apply for a visa, although the process can differ depending on your initial country of residence. For some foreign citizens, you’ll have to apply for your visa through the Swiss consulate. If you’re looking to retire in Switzerland, you’ll want to apply for a type D visa, which is for long-term residency.

In order for your application to go through, you’ll need to prove a handful of things:

●You won’t be seeking employment in Switzerland

●You have health insurance and accident coverage from an approved provider

●You have the financial means to support yourself in Switzerland without working

●You can demonstrate a close connection to Switzerland

That last threshold is a bit fuzzier than the first three. You can usually establish a connection by showing frequent trips to Switzerland or proving you have a family member already living there. Owning property in Switzerland can sometimes be enough, but not always. You should allow roughly six to eight weeks for the consulate to process your visa application.

Additionally, you’ll need to apply for a residency permit within 14 days of arriving in Switzerland. Switzerland is divided into 26 cantons *¹, and each canton has autonomy over its own immigration process. The specifics of the application process will depend on which canton you wish to live in, but you’ll want to make sure to apply for a non-working residency permit.

(*¹ NOTE: The Swiss Confederation comprises the 26 cantons of Switzerland. Each canton has its individual structure for further subdivisions. 7 regions with 26 cantons:

○Eastern Switzerland: Cantons of St. Gallen¹, Thurgau², Appenzell Innerrhoden³, Appenzell Ausserrhoden⁴, Glarus⁵, Schaffhausen⁶, Graubünden⁷

●Zürich: Canton of Zürich⁸

○Central Switzerland: Cantons of Uri⁹, Schwyz¹⁰, Obwalden¹¹, Nidwalden¹², Lucerne¹³, Zug¹⁴

●Northwestern Switzerland: Cantons of Basel-Stadt¹⁵, Basel-Landschaft¹⁶, Aargau¹⁷

○Espace Mittelland: Cantons of Bern¹⁸, Solothurn¹⁹, Fribourg²⁰, Neuchatel²¹, Jura²²

●Région lémanique: Cantons of Geneva²³, Vaud²⁴, Valais²⁵

○Ticino: Canton of Ticino²⁶ )

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La Teste-de-Buch, 33260 La Teste-de-Buch, France 🇫🇷 to Ristorante Resort Collina D'oro, via Roncone 22, Agra, CH 6927, takes 10 hours 30 minutes (691 miles) Via A 89 · Fastest route. 

Once you’ve lived in Switzerland for at least 10 years, you can apply for a permanent residency permit. You can also apply for Swiss citizenship if you wish, but that process is more complicated.

Alternatively, you could come to Switzerland before retirement if you can line up employment. If that’s the case then you can apply for a work visa and change your status down the road when you’re ready for full retirement.

Taxes When Retiring in Switzerland

Switzerland has a reputation as a tax haven, and that reputation exists for a reason. The country’s highest income tax bracket is taxed at only 17%. This is perhaps why it’s an attractive destination for the assets of the uber-wealthy. However, since you won’t be earning a lucrative income in your retirement, this benefits you a bit less than it does for the working population. Switzerland does consider pension income to be taxable, so you will have to factor that in.

Retirees moving to Switzerland have a choice in how they’ll be taxed when they arrive in the country. You can choose to be taxed just like everyone else, deducting a percentage of your income every month. If you wish, you can also choose to pay a lump-sum tax upon arriving in Switzerland. This option is available in all cantons except Zürich, Schaffhausen, Appenzell Ausserrhoden, Basel-City and Basel-Land. If you choose the lump sum, you’ll pay a larger amount upon entering the country that’s based on estimates of your living expenses. Very few people choose this option, but it could potentially save you money in the right circumstances.

There are few different ways you can go about receiving that retirement-income. You can transfer your funds to Switzerland, but depending on your individual circumstances, that may result in double taxation. You can also use your U.S. eligibility to arrange to receive benefits from the Swiss Social Security system, provided you meet all the requirements. Switzerland and the U.S. have a bilateral agreement that makes this possible.

With all of these tax concerns, your unique situation and circumstances will dictate the best course of action. Because of this, it’s always beneficial to consult with a tax professional before making any final decisions.

Healthcare For Swiss Retirees

Health and accident insurance coverage are mandatory for every official Swiss resident. So, you’ll need to purchase it from an authorized provider in order to obtain your Visa and start your life in Switzerland. Prices can vary depending on the level of coverage you purchase, the canton you live in, and your individual health circumstances.

On the bright side, purchasing insurance gains you access to the Swiss healthcare system, which has an excellent reputation for skilled doctors, well-equipped hospitals and no waiting lists. For ways to find authorized providers in your desired canon, you can head to the Swiss government’s website.

How to Save for Your Retirement in Switzerland

Saving for retirement is something that can take decades for most people. The first step is always deciding what kind of lifestyle you’re looking for once you leave your 9 am to 5 pm job. Once you know what kind of life you’re aiming for, you can start to determine how much you’ll need to save to get there. With at least a rough figure in mind, the saving will be significantly easier.

If you’ve worked in the U.S., odds are you’ll be eligible for some type of Social Security benefit. If you’re a government employee or a teacher, you may have a pension income. To supplement this income, the most popular options are an individual retirement account (IRA) or a 401(k) plan. Some people also find success investing for retirement.

The most important aspect of saving for retirement is starting early. If you start saving when you’re young, then you will benefit from the effects of compound interest. That way, you won’t actually have to save as much because your money will have made money of its own. But, no matter where you’re at in your savings journey, the best time to start if you haven’t already is right now.

Bottom Line

Switzerland is an attractive retirement destination for many. This is because of its breathtaking natural beauty, its location in the heart of Europe and its history as an extremely safe country. However, it will cost you a pretty penny to call it home. Especially if you want to live in a major city like Zürich or Geneva. If you can save up enough and navigate all the necessary logistics, though, you should consider a Swiss retirement, particularly if you’re fond of chocolate.

Tips for Saving for Retirement

If the process of saving for retirement has your brain swimming in acronyms and deadlines, you can consider talking to a financial advisor. Finding a qualified financial advisor doesn’t have to be hard. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

A crucial aspect of saving for retirement is making sure your savings stays untouched. You may want to use the money in your retirement account if things are getting tight, but you’ll end up paying for it down the line. An emergency fund can be a good alternative if you need some extra cash.

Anatoly

Who is Anatoly  (Vladimir Shmondenko)?

Anatoly Powerlifter’s real name is Vladimir Shmondenko.

He is a Ukrainian YouTuber, powerlifter, and bodybuilder.

He goes by “Anatoly” in his prank videos to hide his true identity.

“Anatoly” is the character that he plays, who is a cleaner.

Anatoly statistics:

●Full name : Vladimir Shmondenko

●Weight : 78 kg (171 lbs)

●Height: 181 cm (5’11)

●Nationality: Ukrainian

●Year of birth: 1999

●Profession: YouTuber, Powerlifter

●Deadlift PR 290 kg (639 lbs)

●Squat PR 210 kg (462 lbs)

So who is Anatoly? What he does?

If you’ve been on TikTok recently, you might have seen a cleaner making heavy deadlifts in the gym.

In the videos, a man pranks people in the gym by dressing up as a cleaner and lifting heavy weights.

There are many reaction videos of people shocked by how much he can deadlift, bench press, and squat.

This is because he can deadlift the same weight as someone twice his size.

His videos skyrocketed in popularity on YouTube and TikTok—garnering millions of views and fans around the world.

Today, Anatoly Powerlifter is a famous Ukrainian YouTuber, powerlifter, and bodybuilder.

He makes prank videos by dressing up as different characters and outlifting people at the gym.

He plays a couple of characters in his videos—a cleaner and an old man.

In most videos, Anatoly pretends that he is a cleaner and approaches people who are lifting heavy weights.

Anatoly then asks them whether he can try lifting the same weight as them.

He then proceeds to lift that weight—shocking and humbling the person.

His videos have a similar concept to Nikita Zdradovskiy, a Russian YouTuber, who is a good friend of Vladimir.

Nikita’s pranks are in Russian and his YouTube channel is popular in Russia.

Anatoly’s original YouTube channel (@shmondenko) is also in Russian.

In 2022, Anatoly made an English YouTube channel (@vladimirfitness), so it caters to English-speaking countries like the United States.

In 2022, Anatoly collaborated with Larry Wheels, one of the most well-known powerlifters in the fitness industry,

He uploaded a prank video with Larry in it and it got over 15 million views.

His most popular video, titled “Crazy cleaner shocks girls in a gym prank” got over 27 million views in about 4 months.

Anatoly’s popularity skyrocketed after he posted video clips of people’s reactions on TikTok.

He has over 9 million followers on TikTok (@anatoly_pranks) and more than 130 million likes.

According to his Instagram page (@vladimirshmondenko), he has a deadlift personal record of 290 kg (639 lbs) and a squat personal record of 210 kg (462 lbs).

He has been powerlifting since 15 years old and currently weighs around 75 to 80 kg.

Early life and education

Vladimir was born on August 10, 1999, in a small village called “Krishtopovka” with a population of 200 to 300 people located in central Ukraine.

At the age of 14, he got access to the internet and began watching videos of American bodybuilders and bloggers.

According to Vladimir, he dreamed of becoming a blogger so that he can motivate people and become famous.

However, he did not have access to a gym in his village, so he created his own.

He called it “Golds Gym Krishtopovka” and he used old parts from Soviet-era tractors, wood, and bricks to build the necessary equipment.

At 15 years old, Vladmir’s diet consists of 7 meals per day—one meal every 2 hours—consisting of cottage cheese and eggs.

He also brought containers of oatmeal to school where he got laughed at by his classmates and teachers.

In the morning and afternoon, he would do a lot of farm work like feeding cows and managing a garden while he worked out in the evening.

In 2015, Vladimir moved his gym equipment to his room, recorded himself working out, and started working on his first YouTube channel, but there was no success.

In 2017, Vladimir enrolled in a university in Kyiv where he worked hard and excelled in his studies—but that didn’t satisfy him.

The same year, he started working as a courier and worked as a waiter while studying at a university.

He also tried competing in powerlifting in a regional competition and won first place.

In university, he achieved his academic goals and was one of the best students in his cohort.

He started working even harder, continued living in the dorm, and filmed everything with his new Canon 600D camera.

According to Vladimir, a lot of people were talking behind his back, calling him an addict, and doubting him.

However, he was working in a construction company during the day and filmed his workouts at night—gaining 7,000 subscribers on YouTube.

Vladimir mentioned that the person who motivated him the most at that time was @ingvarvoitenko, one of his closest friends.

At 18 years old, he realized that in order to get out of the rat race, he needed to earn at least $200 per month from his YouTube channel.

In addition, he needed to quit all of his jobs and side gigs and use the money he earned for collaboration and equipment.

Vladimir started powerlifting around 2016 and he shared his progress on Instagram.

In 2017, he competed in his first powerlifting completion and he uploaded it on YouTube.

Vladimir started his first YouTube channel, @shmondenko in 2015 posting powerlifting content in Russian.

In 2018, he focused on eating challenges, and his videos started getting over 100k views each.

In 2020, he pivoted his channel and focused on gym pranks which he found the most success in.

His first gym prank video (old man prank) on his Russian channel got over 10 million views.

In April 2021, his main channel hit 1 million subscribers.

Currently, his English YouTube channel, @vladimirfitness, has over 2.2 million subscribers, and his Russian YouTube channel, @shmondenko has over 2 million subscribers.

His TikTok, @anatoly_pranks, has over 9 million followers.