Loi Real Estate Acquisition

							                                 About Enforcement of the
           Federal Law on the Acquisition of Real Estate by Persons Abroad (LFAIE)



Vaud

When a property mentions “sale authorised to foreigners”, this refers to the acquisition of holiday
homes (commonly referred to as secondary residences) by persons residing abroad.

Acquisition of a holiday home by a person residing abroad is subject to various rules.

    -   The property must be located in a so-called “tourist area”.

   VALAIS                                                                   VAUD
   Viège area                        Sion area
   Western Rarogne                                                        Avenches
                                     Evolène                              Bex: above an altitude of
   Saas-Fee                          Hérémence                            700 metres
   Saas-Grund                        Nax                                  Bullet
   Saas-Almagell                     Veysonnaz                            Chardonne (subject to the
                                     Chamoson                             restrictions introduced
   Sierre area                       Conthey                              by the Decree of
                                     Nendaz                               25.02.98)
   Ayer                                                                   Château-d’Oex
   Chandolin                                                              Chexbres
   Grimentz                          Martigny area                        Corbeyrier
   St-Jean                                                                Gryon
   Vissoie                           Leytron: Ovronnaz                    L’Abbaye
   Chermignon                        Martigny                             La Tour-de-Peilz
   Icogne                            Riddes                               Lausanne (only for
   Lens                              Saillon                              flats in an Aparthotel)
   St-Luc                            Saxon                                Le Chenit
   Radogne                           Bagnes: Verbier (except the village) Le Lieu
   Mollens                           Orsières: Champex, La Fouly          Leysin
   Chalais                           Dorénaz: Champex                     Montreux
   Grône                             Salvan                               Ollon: Ecovets, Chesières,
                                                                          Villars, Arveyes
   Chablais area                                                          Ormont-Dessous
   Champéry                                                               Ormont-Dessus
   Monthey                                                                Rossinière
   Port-Valais                                                            Rougemont
   St-Gingolph                                                            Saint-Cergue
   Troistorrents                                                          Sainte-Croix
   Val d’Illiez                                                           Vevey
   Vionnaz: Mayen, Torgon                                                 Veytaux
   Vouvry                                                                 Villeneuve


    -   The main communes in the Lake Geneva area are the following: Vevey, La Tour-de-Peilz,
        Montreux, Veytaux, Villeneuve, (Chardonne subject to the restrictions introduced by Decree of
        25.02.1998) and Chexbres.

    -   The property (apartment or house) must meet certain criteria and surface limitations. The
                                             2                   2
        lodging’s area may not exceed 200 m , or maximum 250 m if the need can be justified. For
                                                   2                    2
        houses, the plot area may not exceed 1000 m , or maximum 1500 m in specific cases.

    -   Additionally, there is a limited number of authorisations issued each year – for 2010, this is
        approximately 170 authorisations for the whole Canton Vaud. For the Riviera area (i.e.
        Chexbres, Chardonne, La Tour-de-Peilz, Vevey, Montreux and Veytaux), 42 authorisations
        will be issued in 2010. These authorisations are issued as the need arises, i.e. if demand
        exceeds the annual quota, applications will be carried forward to the following year, or even
        the year after that.

        Please look up the following link:

        http://www.vd.ch/fr/themes/territoire/registre-foncier/acquisition-par-des-etrangers/
Fribourg

Fribourg also allows the sale of holiday homes to foreigners. The list of communes which allow this is
as follows: Albeuve, Botterens, Broc, Bulle, Cerniat, Charmey, Châtel-St-Denis, Châtel-sur-
Montsalvens, Crésuz, Enney, Grandvillard, Gruyères, Jaun, Montbovon, Le Pâquier, Plaffeien,
Plasselb, Pont-la-Ville, La Roche, La Tour-de-Trême.




                                       Permanent Residents

These are foreign nationals wishing to settle and take up permanent residence in Switzerland. In that
case they should apply for a residence permit (B permit), and there is a distinction between EU and
EFTA nationals and nationals of non-European countries. A European with a B-type residence permit
may purchase any number of properties without surface limitations. In contrast, non-EU/EFTA
nationals may purchase property strictly for their own accommodation, but may not acquire property
for rent as an investment, for example. In this case, the maximum plot area for houses should not, in
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principle, exceed 3000 m .