Written by David Rosbotham DipPFS | Financial Planner

If you’re preparing to leave Switzerland as an expat, it’s easy to get caught up in moving logistics and overlook some of the most important financial details – especially when it comes to bank accounts, insurance, and investments.

Failing to properly manage your financial exit can result in frozen accounts, tax issues, or even unnecessary fees after you’ve left. This guide walks you through the essential steps to take before your departure.

1. Closing or Managing Your Swiss Bank Accounts

Before you leave, review all your Swiss bank accounts and decide whether to close them, keep them open, or transfer funds elsewhere.

Key steps:

• Notify your bank of your departure.

• Transfer funds to an account in your new country or home country.

• Request closing statements and tax confirmations.

• Ask about account closure fees or penalties.

• If keeping an account open, confirm any non-resident fees or minimum balance requirements.

Pro Tip: Many expats choose to keep a low-fee Swiss account open for receiving final payments, taxes, or pension withdrawals (like Pillar 2 or 3a).

2. Canceling Swiss Health and Other Insurance Policies

Switzerland requires mandatory health insurance, but you can’t just stop paying when you leave.

How to cancel insurance policies properly:

• Deregister from your Gemeinde (commune) before your departure.

• Use the de-registration confirmation to formally cancel your health insurance policy.

• Cancel other policies (liability, car, household contents, legal protection).

• Ask insurers for written confirmation of cancellation.

• Confirm whether you are eligible for any premium refunds.

Watch out for:
If you don’t cancel properly, some insurers may continue billing you – even after you’ve left the country.

3. Managing Swiss Investments Before Departure

Leaving Switzerland doesn’t necessarily mean you have to liquidate your investments – but you do need to understand your options.

Common scenarios:

• Pillar 3a (voluntary pension): Can be withdrawn early if you’re leaving Switzerland permanently. Tax rates vary by canton of withdrawal.

• Pillar 2 (occupational pension): If moving outside the EU/EFTA, you may be able to withdraw the full amount.

• Brokerage accounts or funds: Check tax implications and whether your provider allows you to remain a client as a non-resident.

Pro Tip: Work with a financial advisor or fiduciary who specialises in expat exits to minimise taxes on withdrawals and restructure your investments post-departure.

4. File a Final Swiss Tax Return

Before you leave Switzerland, you are often required to file a final tax return. This process will take into account:

• Wealth tax (yes, Switzerland taxes your global assets)

• Pension balances

• Investment income

• Outstanding income tax

Some cantons may withhold part of your assets (e.g. from pension funds) until your taxes are fully cleared.

5. Don’t Forget Digital & Utility Accounts

While not strictly financial, remember to:

• Cancel utilities, mobile contracts, and digital subscriptions.

• Close Swiss e-commerce or finance apps (e.g., Twint, Swisscard, SBB account).

• Download any tax or bank documents you may need later.

Conclusion: Leave Switzerland Financially Prepared

A smooth departure from Switzerland means more than just packing your boxes. Properly closing bank accounts, managing insurance, and reviewing your investments ensures you avoid unexpected charges, tax issues, or frozen funds.

Need help planning your financial exit?
Contact us for personalised advice to make your move stress-free and financially sound.