The Ultimate Guide to Expat Living in Geneva, Switzerland

There aren’t many more idyllic settings for a city than this. 

Between the Alps and the Jura mountains, with stunning Lake Geneva at its heart, Geneva offers year-round outdoor activities, from skiing and hiking to boating.

Switzerland’s capital really is where international charm meets Swiss precision.

Famed for its luxury shopping and private banking, Geneva never fails to delight, so if you’re an expat investigating options for a new life in a cosmopolitan city, this could be the city for you.

Geneva Lake Deep, Mountain High

Famously, Tina Turner renounced her US citizenship in favour of a Swiss passport but less well-known is the fact that American country legend, Shania Twain, spends much of her time at her idyllic home overlooking Lake Geneva.

Music icon, David Bowie, also spent a lot of time here and the ‘muscles from Brussels’ himself – Jean Claude van Damme – has a home in the area where he’s known for his preference for the serene Swiss lifestyle.

For reasons we can’t quite fathom – though it’s likely to do with privacy and tranquility – the city holds a special attraction for Formula One drivers with Lewis Hamilton, Sebastian Vettel and Kimi Raikkonen all living there at one point.

Geneva – City Guide

Nestled at the heart of Europe and influenced, linguistically at least, by EU heavyweights Germany and France, Switzerland has long been a significant location in Western Europe despite its relatively modest size and Geneva’s attraction as a destination reflects that.

The city’s airport is just 2 kilometres from the centre, making commuting in and out incredibly easy: once you’ve landed , you can jump on a train that takes just five minutes to get to the city’s Central Station.

As a leading financial hub and famous for its neutral political stance, the international city of Geneva is home to numerous United Nations (UN) agencies such as the World Health Organisation (WHO), Swiss banks, international organisations and multinational corporations.

Switzerland ranks consistently high in global quality of life surveys and Geneva is no exception. Expats relocating here can expect excellent healthcare, schools and a secure living environment. 

As you explore the city, it’s easy to see why Geneva is home to an estimated 85,000+ millionaires. 

The city’s cultural scene is rich and varied, with world-class museums and historical landmarks, vibrant festivals and gourmet dining: for newcomers, exploring the historic city centre is a must.

The public school system is free, though the primary language of instruction is French. However, several top international schools, such as the International School of Geneva and the Institut Florimont, offer education in English and other languages.

The Swiss healthcare system is one of the best in the world, but many expats opt to take out private health insurance to access a more comprehensive range of medical services.

This is a relatively small, compact city, best explored on foot but, unsurprisingly for those organised Swiss, Geneva’s a marvel of public transport efficiency, including buses, trams, trains and boats that share a convenient universal ticketing system.

Local Geneva culinary delicacies include longeoles (pork) and zürcher geschnetzeltes, a veal dish cooked in mushrooms and white wine. 

There are also many Swiss cheeses to taste, from fried malakoff to melted fondu and, of course, no tri[ to this part of the world would be complete without a full sampling of Switzerland’s decadent chocolate delights.

As you might expect, there are a lot of expats here and joining one of the many expat groups or forums can ease the transition for those starting out in Geneva, with plenty of events and activities happening, including language exchange programs. 

Living in Geneva – Affordability 

As touched on, Geneva is renowned for its high-quality healthcare and excellent education system, as well as being a global hub for diplomacy and finance. 

However, all these advantages come with a significant price tag.

In terms of housing, the most substantial portion of any budget, renting a one-bedroom apartment in the centre of Geneva costs between CHF2,200 and CHF3,700 monthly (€2328–3917).

If you choose a location outside the city centre, the rent for a one-bedroom apartment ranges from CHF1,800 to CHF2,800 monthly (€1905–2964).

Note: The exchange rate from Swiss francs to euros as of mid-2024 is 1 CHF = 1.06 EUR.

For a three-bedroom home in the city centre, expect to pay between CHF4,500 and CHF7,000 monthly (€4760–7410).

Outside the centre, rent can range from CHF3,500 to CHF5,500 (€3302–5189)for a three-bedroom apartment.

Essential utilities, including electricity, heating, water and refuse collection for a mid-size apartment, typically range from CHF150 to CHF250 per month (€142–236).

Groceries in Geneva are generally more expensive than in many European cities. An expat should budget to spend around CHF400-650 (€377–613) per month on food. 

Here’s an overview of some typical everyday costs:

• Milk (1 litre):CHF1.60 (€1.51)
• Loaf of bread: CHF3.20 (€3.02)
• Eggs (12): CHF7 (€6.60)
• Cheese (1 kg): CHF22 (€20.75)
• Fitness club monthly membership: CHF80–150 (€80–75.47)
• Beer: CHF7–10 (€6.6–9.43)
• Mobile phone plan: CHF30–60 (€28–57)
• Monthly travel passes” CHF70–90 (€66–84).

With health insurance mandatory for new residents, expect to pay between CHF300 and CHF500 (€283–471) per month for basic cover.

Dining out in Geneva can be a pricey experience. A meal for two at a mid-range restaurant costs between CHF90 and CHF150 (€85–142). And it can go much higher. 

If you are looking to relocate to Geneva with your family, education costs can be significant, especially if you opt for either international or private schools.

Public schools are free but only suitable for those who can speak the language, with tuition fees for international schools ranging from CHF20,000 to CHF40,000 (€18,868–37,736) a year.

It is worth noting that although the official currency is the Swiss Franc (CHF), the Euro (€) is widely accepted.

Geneva – Where to Live

Here are some popular areas for expats in Geneva:

Eaux-Vives

This neighbourhood is perfect for expats who want to be close to the lake, parks and vibrant nightlife.

Eaux-Vives stretches along the waterfront behind Geneva’s famous Jet d’Eau and is one of the greenest areas in the city.

Eaux-Vives is a fantastic option for young professionals as it’s conveniently located near all the city’s amenities but, for those who enjoy getting out of town, the mountains and stunning countryside are easily accessible.

Carouge

Carouge is a lovely area just outside the centre, which, because of its Sardinian heritage, is known as ‘little Italy’. 

It’s ideal for expats looking for a chilled bohemian vibe as Carouge has plenty of relaxing cafes, restaurants and antique stores.

This more upscale neighbourhood is a great location for families looking to relocate to Geneva with plenty of outdoor spaces to enjoy and good local schools. 

The Arve River borders Carouge, making it perfect for evening strolls, cycling, running or whatever recreational activity you prefer.

Les Pâquis

For expats looking for a diverse and lively neighbourhood, Les Pâquis could work well.

This eclectic neighbourhood is located on the northern banks of the lake, between the railway station and the waterfront. 

One of Geneva’s more multicultural districts, Les Pâquis has some of the city’s best shopping, food and nightlife.

Expats are also drawn here for more affordable rental prices than the rest of Geneva.

Champel

Champel is ideal for expats looking for a more tranquil and affluent area suited to families. 

Located in southern Geneva, Champel is close to top international schools and has lots of green outdoor spaces for the whole family to enjoy. 

It’s also conveniently connected to the city and surrounding regional areas, such as Annemasse, just across the French border.

The real estate asking price is steep but, for those who can afford the price tag, there are excellent high-end homes in Champel.

Annemasse

Just across the border in France, Annemasse is still part of the wider Geneva urban area and, because of its location, it’s substantially cheaper than other neighbourhoods.

Expats can still access the city centre of Geneva, but it should be borne in mind that anyone considering this cross-border option face the added complication of obtaining specific documentation.

To enter Switzerland, European Union (EU) citizens must carry a valid national identity card or passport. 

Securing Residence in Switzerland

With 25% of Switzerland’s population already foreign nationals, the country is famous for welcoming outsiders with open arms – if you have adequate wealth. 

Unsurprisingly, most foreign nationals migrate here from neighbouring countries, including Italy and France.

Obtaining a work permit is relatively straightforward for these EU nationals, but things get a bit trickier for non-EU nationals and success on this front may require securing a job offer or investing more time and money.

For non-EU/EEA nationals, there are two options to obtain a residence permit in Switzerland:

• Lump-sum taxation
• Starting a business

Lump-Sum Taxation

The lump-sum taxation system in Geneva is unique.

Each of the 26 cantons or member states implements its own system and not all offer the lump-sum regime at the canton level, but two of the best cantons for the lump-sum taxation incentive include Geneva and Vallis.

It’s available to applicants who are not Swiss nationals and can’t have been a Swiss tax payer at any point during the ten years prior to the application.

While it’s not mandatory that applicants have a cultural, family or economic link to the country, it helps if they do.

The amount you actually pay for lump-sum taxation will be the highest of the following:

• The family’s annual, worldwide living expenses
• The annual housing costs in Switzerland, multiplied by a factor of seven
• A minimum amount specified by the canton of residence
• The income from Swiss sources, which the client discloses.

The highest of these amounts will be taxed at regular Swiss income tax rates and, under the lump-sum regime, you can’t work or engage in any kind of employment – beyond actively managing your wealth – on Swiss soil.

Annual worldwide living expenses tends to be the route most local lawyers advise taking, as it’s the most subjective.

Incorporate a Business

Moving your business to Switzerland is also an excellent route to residence in Geneva and, thanks to increased competition between cantons, corporation tax starts as low as 11.85%.

This is a very business-friendly country, allowing great flexibility to those running a company and boasting a highly skilled workforce, especially in and around Geneva and Zurich.

The business investment needs to be substantial – approximately CHF1 million (€1.06 million) – and in an ‘innovate’ firm.

The applicant must hold an essential position in the company, such as director, CEO or CFO, and, if they’re not a Swiss, EU or EAA citizen, then they need to prove that no-one from those jurisdictions can do your job.

Incorporation takes a matter of weeks, and you don’t necessarily need to speak the local languages. You can easily work and live in Switzerland with English.

Of course, if you want to become a permanent resident or pursue naturalisation, you must achieve a level of French, German or Italian fluency. 

Expats looking to take advantage of the lump-sum tax regime should consider where they would like to live in Switzerland and which canton offers the most favourable conditions. 

Citizenship

After 12 years of permanent residence, three or which occurred within the five years prior to the application, you can apply to become naturalised as a Swiss citizen, giving you access to one of the world’s most powerful passports. 

In fact, the Nomad Passport Index awards Switzerland the top ranking based on its approach to travel, international taxation laws, global perception, dual citizenship and personal freedom. 

Swiss passport holders can travel to 176 countries (without a visa, with a visa on arrival, or via an electronic travel authorisation (eTA).

Certain groups may qualify earlier for citizenship if:

• Married to a Swiss nation
• A second-generation child resident
• An EU?EFTA national (you can apply after only five years).

The Ultimate Guide to Expat Living in Geneva, Switzerland: FAQs

Living the Dream in Geneva

With its unique culture, stunning landscapes and high quality of life, Geneva promises a rewarding life for an expat.

Life in Switzerland is an investment in quality, but it doesn’t come cheap.

Going offshore, whether to secure a second residence or to bank in a jurisdiction like Switzerland, is a complex undertaking whose success requires careful planning and a clear vision of the desired lifestyle and business goals.

That’s where Nomad Capitalist comes in – we ensure you’re fully informed about all your options, so you can make the best decisions for your future.

We help seven- and eight-figure entrepreneurs and investors create a bespoke strategy using our uniquely successful methods. 

You’ll keep more of your own money, create new wealth faster and be protected from whatever happens in just three steps. Discover how we do things here.