Tightening of Lex Koller? Turning point on 2 June 2014

The second chamber of the Swiss Parliament, the Council of States, decides on 2 June 2014 on two pending motions for a tightening of the Lex Koller. These motions request that the acquisition of commercial properties, the acquisition of shares in listed real-estate companies and the acquisition of shares in regularly traded real-estate funds shall again be subject to the Lex Koller.

In April, the Committee for Legal Affairs of the Council of States decided with a small margin to recommend to reject the motions. If the Council of States rejects the motions on 2 June, the tightening will be off the table. If the Council of States approves the motions, the Federal Council will have to prepare a bill within two years.

On 27 September 2013, a left-wing national councillor filed two motions requesting a tightening of Lex Koller, the federal law limiting the acquisition of non-commercial real estate in Switzerland by non-residents. The government proposed to approve the motions in a virtually unnoticed decision and the National Council, the first chamber of the Swiss Parliament, approved them without any debate on 13 December 2013…

Click on the link below to read the rest of the Bär & Karrer briefing.

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