![This Swiss village will pay people £15,000 to move there – but there are strings attached (1) This Swiss village will pay people £15,000 to move there – but there are strings attached (1)](data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==)
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Residents of a Swiss village voted to offer a settlement grant to people willing to move there.
The vote on 30 November was passed by 71 votes in favour to 29 against, reports ATS.
“It’s a clear result and I’m very happy about it,” said mayor Beat Jost.
It means that, for those who are eligible, moving to the village of Albinen in the Valais region will mean a payout of CHF25,000 (£15,000) per adult and CHF10,000 (£7,500) per child.
The village currently has 240 inhabitants; the new scheme was proposed in response to a group of young residents’ request that something be done to bolster Albinen’s decreasing population.
A dedicated fund of CHF100,000 (£75,000) per year will be allotted to the project.
But getting the settlement grant isn’t as straightforward as packing your bags and showing up in Switzerland. To be eligible, new residents must be under 45 years old, sign up to live in Albinen for a minimum of 10 years, buy or build a property there with a minimum value of CHF200,000 (£150,000), and be a Swiss citizen or have a valid Swiss C permit. Their house there must be a primary residence, rather than a second home.
The local newsletter called the move “an investment in the village’s future”.
However, Albinen authorities are keen to stress that the scheme is not aimed at everyone after some media coverage suggested that anyone would be eligible, reports the Local.
A statement released by authorities said that the news “caused a worldwide sensation” and was responsible for “misleading thousands”.
Of the many expressions of interest Albinen has received since the story initially broke, “one in a hundred” could realistically be considered due to the strict stipulations, the statement said.
Authorities say they expect that “at most five to 10 young families” will end up taking part in the scheme.
It's not the first place to entice new residents with a cash bonus. In October The Independent reported that an Italian town was offering to pay people up to €2,000 (£1,800) to move there.
Nicola Gatta, mayor of Candela, a small town in Puglia, made the offer in the hope of reversing the town’s declining population.
Gatta said he wants to bring numbers back up to the 8,000 of the 1990s, when the town was known as “Little Naples”. Today, there are just 2,700 residents.
FAQs
To help reduce its declining population, Albinen is offering 20,000 Swiss Francs (US$22,144.44*) to adults under 45 willing to make the move to Switzerland, often considered one of the best countries to work and live. Plus, an additional 10,000 Swiss Francs (US$11,072.22*) for each child!
Why is Switzerland paying people to live there? ›
To clarify: the village is far from uninhabitable. It's nestled on a mountain slope at 4,265 feet above sea level, making it beautiful, clean, and filled with unbeatable scenery. But, unfortunately, the job market is virtually nonexistent. To combat this issue, the Government is willing to pay people to move there!
Which Swiss village offers 100K as settlement deposit? ›
① A Swiss Village Offering $100K to Those Who Move In
Now let's find out why Switzerland made such a promise and what kind of village it is. This astonishing village is called Albinen, a small village in Valais, Switzerland, with 240 people.
What villages in Switzerland will pay you to move there? ›
Switzerland (Albinen)
In an effort to combat population decline, the Swiss village of Albinen is offering attractive relocation incentives to entice families and workers to call this picturesque location home.
Who is eligible to move to Albinen, Switzerland? ›
Initially, the scheme was only open to new residents aged under-45, with CHF200,000 to invest in real estate and at least a C permit, which allows them to live in Switzerland for five years. The cash inducements were later delayed until new residents had taken root in Albinen for five years.
Which state pays you to live there? ›
Alaska has one of the longest running incentive programs in the country: the Permanent Dividend Fund. Started in 1976, it pays every resident an annual stipend as long as they lived in Alaska during the previous calendar year. The amount depends on the state's annual revenue, but averages around $1,600.
What is the downside of living in Switzerland? ›
While there are numerous benefits to living in Switzerland, there are also some drawbacks to consider: High Cost of Living: As mentioned earlier, the cost of living in Switzerland is considerably high. This extends beyond just housing and includes groceries, dining, and general entertainment.
Can I move to Switzerland without a job? ›
Can I move to Switzerland without a job? Yes, you can move to Switzerland temporarily without a job. However, in order to apply for long-term stays or even a Swiss residence permit, you'll need a job, school program, or naturalized family member—especially for stays for longer than 90 days.
Is it free to live in Switzerland? ›
If you are a family, you can expect to spend between 4000 and 8000 Swiss francs per month on living expenses. If you are a single person, you can expect to pay between 2500 and 4000 Swiss francs per month on living expenses. These costs can vary depending on your lifestyle and where you live in Switzerland.
How much deposit do I need to buy a house in Switzerland? ›
A 20% minimum deposit is typically necessary to buy real estate in Switzerland. However, first-time buyers are the only ones who get help to purchase a Swiss home with a mortgage. You will need to be prepared to put up the 20% minimum contribution yourself.
In contrast with repayment periods of 20 to 30 years in many other countries, repayment periods are usually longer in Switzerland, with mortgages of between 50 and 100 years being fairly common.
Can Americans buy Swiss real estate? ›
Non-Swiss residents acquiring a home in Switzerland must apply for a foreign buyer's permit. This entitles the owner to reside in the country up to 180 days per annum, subject to a maximum stay of 3 months at a time. Non-Swiss residents, are not permitted to own more than one residential property.
What is the cheapest part of Switzerland to live in? ›
To give you an idea of the more affordable options, here is an overview of the cheapest places to live in Switzerland.
- Uri. The canton of Uri is consistently making the cut as the cheapest place to live in Switzerland. ...
- Glarus. ...
- Appenzell Innerrhoden. ...
- Obwalden. ...
- Neuchâtel. ...
- Thurgau. ...
- Jura. ...
- Valais.
Which country pays you to live there? ›
The 21 countries that will pay you to move there in 2024 are Mauritius, Italy, Croatia, Japan, Austria, England, USA, Canada, Island of Sark, Greece, Ireland, Spain, Denmark, Switzerland, Portugal, Estonia, Iceland, Mauritius, South Korea, Vietnam, and Thailand.
What are the cheapest towns to purchase property in Switzerland right now? ›
The towns of Locle and la Chaux-de-Fonds are two of the least expensive where one can become a property owner in Switzerland. The price is around CHF 3,250 per square metre. Whilst in Zurich, the average price per square metre rises to CHF 12,250.
How much money do you need to move in Switzerland? ›
If you are a family, you can expect to spend between 4000 and 8000 Swiss francs per month on living expenses. If you are a single person, you can expect to pay between 2500 and 4000 Swiss francs per month on living expenses. These costs can vary depending on your lifestyle and where you live in Switzerland.
How much does it cost to move from USA to Switzerland? ›
The average cost of a move from the U.S. to Switzerland is $3,450.
Can a US citizen move to Switzerland? ›
Everyone, regardless of nationality, needs a residence permit if they want to stay and work in Switzerland for longer than three months. Apply for a permanent residence.