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Capital gains tax in Switzerland 2026
Sell shares, bonds or funds you hold privately and Switzerland taxes the gain at 0% — federally and in every canton. This is the headline reason wealthy investors move here.
Two carve-outs matter: real estate pays a separate cantonal property-gains tax (front-loaded against quick flips, shrinking with the years you held), and trading actively enough to look professional converts everything into taxable business income.
At a glance
- top rate
- 0% on private movable assets
- entry band
- Property: cantonal gains tax, declining with holding period
- tax year basis
- Calendar year
- filing deadline
- Property gains taxed at sale by the canton
- residency basis
- Wealth tax, not gains tax, is what residents pay on portfolios
- regime flag
- Professional-trader reclassification risk
Rates
Capital gains by asset type (2026)
| Rate | Base | Applies to |
|---|---|---|
| 0% | — | Shares, bonds, funds, crypto and other movable assets held privately |
| Cantonal property-gains tax | Sale price minus cost and improvements | Real estate — higher for short holding periods by law, tapering over decades (e.g. Vaud: 30% inside a year, 7% after 24 years) |
| Ordinary income rates | Full gain | Business assets, and private investors reclassified as professional traders |
| Ordinary rates on 70% | Reduced base (federal) | Business-held stakes of 10%+ owned at least a year |
Thresholds & allowances
- Main-home rolloverProperty-gains tax deferred
When the proceeds buy a replacement home anywhere in Switzerland
- Professional-trader markersLeverage, high turnover, short holding, derivatives, trading as livelihood
Any combination can convert 0% gains into fully taxed income — practice varies by canton
Residency
Residency trigger
Residents enjoy the 0% on movable gains worldwide; Swiss property gains are taxed where the property sits, whoever owns it.
Non-resident treatment
Non-residents pay no Swiss tax on Swiss shares they sell, but Swiss real estate gains are always taxed by the canton of the property.
Notes
- The flip side of 0% gains: losses on private investments are not deductible either, and the cantons tax your net wealth every year instead.
- Inheritance, gifts and transfers between spouses defer property-gains tax rather than trigger it.
- Years you lived in the property count double toward some cantonal tapers (Vaud), and quick flips are deliberately punished everywhere.
- Business restructurings (merger, incorporation of a sole trade) roll over untaxed under continuity conditions.
FAQ
Does Switzerland tax capital gains on shares?
No — 0% for private individuals, at every level of government. The trade-offs are the annual wealth tax (roughly 0.1%–1% by canton) and the professional-trader rules for very active portfolios.
How are property gains taxed in Switzerland?
Through a separate cantonal tax on the gain, deliberately steep for short ownership and shrinking over time — in Vaud, for example, from 30% within a year to 7% after 24 years, with a full rollover if you buy a replacement main home.
Figures: tax year 2026, compiled from public sources. Not tax advice.