I’m 36, female, moved from Poland to Switzerland 2.5 years ago. I came here with ridiculously low (for Swiss standards) safety net and a mortgage in Poland to pay. During past two years my focus was to get settled and order my financial matters here and abroad. Now that it’s done, I have a stable financial situation: very decent salary, great pension fund and saving 40-45% of my yearly net income for retirement. Could probably save more but I also like to live a little
I plan to retire in the next (hopefully) 15-20 years. As I came here pretty late in my life and don’t have substantial financial assets yet, it is very unlikely for me that I will reach FIRE in Switzerland, so I have a plan to move to a country with a lower cost of living. At this point I don’t want to decide where exactly. All I know is once my coffers are full with , I will pack my things, withdraw my 2. and 3. pillar and go . For this reason, I am focused on investing and not on e.g. buying a property in Switzerland. I have a flat in Poland that I rent out and I consider buying one more, as an investment (and because I know the real estate market there very well).
The problem I’ve got is that I am employed with UBS and due to FINMA regulations and internal policies against insider trading, I am forbidden to have a broker account outside of UBS. The only investments I can make are through UBS and this is expensive as hell (even though employees have huge discounts on trading and administrative fees, it still hurts). But I have no other option, it’s either investing with UBS or not investing at all. I already bought some ETFs to start.
Has anyone else been in a situation like this and have some advice? There is a lot of content online but most focus on IB or Degiro and I have a lot of questions around my situation, especially about taxes.
- Is investing with US ETFs still the best choice tax-wise for all Swiss residents, or does the UBS factor change anything? Does anyone know what is the availability of US ETFs via UBS?
- If I am not so sure about putting all my money in US-based funds, I assume that I should go with IE as the second choice?
- Should I be prepared to fill in all these forms to get part of the withholding tax on dividend back, or can I expect a ready-to-go form from UBS?
Also, can you point me to the US/IE ETFs worth considering for my portfolio? (I will do my due diligence but it’s good to have a place to start).
I’d appreciate any advice from you, especially from the people who have similar constraint on the broker or plan like me to move out of Switzerland to advance their FIRE.
Just please don’t advise me to get a different job where I don’t have the broker limitation. I like my job, I have a good pension plan and real opportunity for significant salary increase in the next years, and I also consider getting pregnant within a year or two, so I won’t change my employer at this time.