New to Switzerland: what nobody tells you about the financial system

Arriving in Switzerland is exciting — and also overwhelming. The system works differently from almost any other country.

Week 1: What cannot wait

Municipal registration (Anmeldung): Mandatory within the first 14 days. Without this, no bank account, no official documents.

Bank account: You need one to receive your salary. Digital options are accessible from day one.

First month: The urgent

Health insurance (mandatory): 3 months from arrival. Basic does not cover everything: supplementary from CHF 20/month additional. Franchise choice depends on health and income.

Personal liability insurance: Essential. Around CHF 150/year.

First 6 months

Understand your payslip: AHV/AVS, IV, ALV, NBU can surprise you. With B permit, source tax is also withheld.

Emergency fund first: Prioritise liquidity in the first 12 months.

From year one: Optimise

Third pillar 3a: When you have work stability, this is the first tax optimisation step. Up to CHF 7,258/year deductible. Important: early withdrawal not only has tax costs — depending on the product, it can also mean financial losses.