Transferring assets abroad when leaving Switzerland
Plan large international transfers in tranches over the weeks around departure, using a low-cost FX provider (Wise, Revolut, Interactive Brokers) rather than retail bank rates - the saving on a CHF 500,000 move is typically CHF 5,000-12,000. Where possible, transfer securities in-kind to a broker in the new country rather than selling and rebuying, and align transfer timing with the tax residency switch.
Overview
Moving wealth across borders is mostly logistics, but a few decisions - FX provider, in-kind vs cash, transfer date relative to residency change - have a material financial impact. Avoid moving everything on day one; sequence it so each step has a clean audit trail.
Moving assets abroad cleanly
- 1
Inventory and categorise
List Swiss accounts (CHF, EUR, USD), investment accounts, pillar 2/3a, vested benefits, life-insurance policies and Swiss real estate. Mark each: 'transfer in cash', 'transfer in-kind', 'keep in Switzerland', 'cash out'.
- 2
Open destination accounts before you leave
Opening a non-Swiss bank or broker account from Switzerland is usually faster than opening a foreign account from inside Switzerland after leaving. Onboarding takes 2-6 weeks for many EU/UK/US institutions.
- 3
Choose the FX route, not the bank's default
Retail Swiss bank FX spreads run 1-2.5% on EUR/USD/GBP. Wise, Revolut and Interactive Brokers typically charge 0.15-0.50%. On CHF 500,000, the difference is CHF 5,000-12,000 - real money for a few hours of setup.
- 4
Transfer securities in-kind where you can
Most major brokers (Interactive Brokers, Saxo, DEGIRO, Schwab International) support ACATS-style in-kind transfers. Avoids realising taxable gains in the new country and preserves cost basis - critical for CGT jurisdictions.
- 5
Tranche large transfers
Splitting a CHF 500,000 move into 3-5 transfers over 2-4 weeks reduces timing risk on FX and avoids triggering single-transaction AML reviews that can hold funds for days.
- 6
Document everything for the new country
Keep statements, transfer receipts and the CHF/foreign-currency rate on each transfer date. Many destination countries (UK, US, Australia) require this to establish cost base or to prove the funds are pre-residency capital and not taxable income.
Frequently asked questions
What is the cheapest way to transfer large amounts of money out of Switzerland?+
Multi-currency providers like Wise and Revolut, or brokerage FX via Interactive Brokers, typically deliver 0.15-0.50% all-in - several times cheaper than retail Swiss bank transfers, especially for amounts above CHF 50,000 (as of 2025).
Can I keep my Swiss investments after I leave?+
Many Swiss brokers and banks (Saxo, IBKR Switzerland, some cantonal banks) allow non-resident clients, but service levels and product access drop and fees often rise. Transferring in-kind to a destination-country broker is usually cleaner long term.
Will Switzerland report my account to my new tax authority?+
Yes - Switzerland exchanges account information automatically (CRS) with most countries. Make sure your declared tax residence at the Swiss bank is updated to the new country once your move is complete.
Should I sell my portfolio before leaving Switzerland?+
If the new country taxes capital gains and Switzerland doesn't, realising gains as a Swiss resident resets your cost base tax-free - often worth doing. If the new country has CGT and the holdings sit in a CGT-efficient wrapper (ISA, 401k equivalent), transferring in-kind is usually better.