Switzerland, Geneva

Overview

Switzerland, Geneva Geneva is the capital of the Republic and Canton of Geneva. Geneva's economy is mainly services oriented. The city has an important and old finance sector, which is specialized in private banking (managing assets of about 1 trillion USD) and financing of international trade.

Switzerland is in Central Europe, east of France, north of Italy. The climate is temperate, but varies with altitude with cold, cloudy, rainy/snowy winters and cool to warm, cloudy, humid summers with occasional showers.

The official languages are French, German and Italian. Romantsch, a language with both German and Latin roots, is commonly spoken in the south-eastern Graubunden / Grisons region. English is widely spoken, though Swiss people will be pleased if visitors are able to exchange a few words in a local language. The main religion is Christianity.

The economy of Switzerland is one of the world's most stable economies. Its policy of long-term monetary security and bank secrecy has made Switzerland a safe haven for investors, creating an economy that is increasingly dependent on a steady tide of foreign investment.

The Swiss tend to be formal both in business and social settings. Expatriate business dress is primarily a formal suit.

The security risk for expatriates in Switzerland is low. Risks include low levels of petty crime and the underlying threat of terrorism. Other risks include the severe winter weather.

The currency of Switzerland is the Swiss Franc (CHF). Banking is on a par with the rest of Western Europe and North America.

Medical facilities are good, however the cost of treatment for expatriates from outside the EU can be high.

The population of Geneva is 199,000 (2019 est.), while the inflation rate (CPI) is 0.3% for Switzerland as at July 2019.

Xpatulator Hypothetical Tax for Switzerland is complex as it is based on the current personal income tax rates which are levied at three different levels. Federal level (Single Taxpayer 0%-13.2%), cantonal level (Zurich 0%-13%), and at the municipal level (Factor of cantonal tax, which varies between 0.75 and 1.34 (City of Zurich: 1.19).

Cost Of Living

The cost of living for expatriates / professional migrants in Geneva as at 1 July 2019 is very high in comparison to other places in the world.

In Geneva, the cost of each basket, based on local prices, compared to the international average, is categorized follows (Exact cost of living percentages only available in personalised reports):
1) Alcohol (where available) & Tobacco: High
2) Clothing: Very High
3) Communication: Very High
4) Education: Very High
5) Furniture & Appliances: High
6) Groceries: Very High
7) Healthcare: Very High
8) Household Accommodation: Very High
9) Miscellaneous: Very High
10) Personal Care: Very High
11) Recreation & Culture: Very High
12) Restaurants Meals Out and Hotels: Very High
13) Transport: Very High

Geneva is for example 86% more expensive than Houston TX for groceries, 87.7% more expensive for household costs than Kuala Lumpur, and 129.5% more expensive for transport costs than Dubai.

Geneva is ranked as a minimal hardship location.

The hardship premium for Geneva for an expat from Perth, is for example 0%, i.e. host location (Geneva) premium of 10% minus home (Perth) location premium of 10%.

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The cost of living for expatriates / professional migrants in Geneva as at 1 July 2019 is very high in comparison to other places in the world.

Geneva is ranked as a minimal hardship location.