Applying for expatriate credit

Expatriates in Switzerland, here are the steps to follow:

✅ 1. Prepare the required documents:

• Valid passport or identity card.
• Residence permit: Permit B, C, G, or L depending on your status in Switzerland.
• Employment contract: Proof of your job in Switzerland, indicating your salary, contract duration, and general terms.
• Recent bank statements (usually the last 3 months).
• Proof of address: Utility bill or rental agreement.
• Income verification: Pay slips or tax return.
• If available, a letter of recommendation from your employer.

✅ 2. Identify suitable banks:

Most Swiss banks—such as UBS, Credit Suisse, Raiffeisen, PostFinance—and other private institutions accept credit applications from expatriates.
There are also specialized brokers who can help you find the most advantageous offer.

✅ 3. Prepare your application:

Write a credit request letter specifying:

• Your expatriate status.
• Monthly income and expenses.
• Amount requested and desired repayment period.

Gather all documents in advance to avoid processing delays.

✅ 4. Submit your application:

• Schedule an appointment with a bank advisor.
• Present all required documents.
• Discuss credit terms: type of loan (personal, mortgage, etc.), interest rate, duration, monthly payments, etc.

✅ 5. Special conditions:

• Expatriates without a C permit may face stricter requirements.
• Holders of B, L, or G permits may be asked for a Swiss co-signer or an additional bank guarantee.
• A fixed-term contract can make it harder to obtain a large loan.

✅ 6. Negotiate and choose the best offer:

• Compare credit offers from several banks to find the best terms.
• Negotiate interest rates and administrative fees where possible.

Article courtesy of Munur Aslan, Director of MultiCredit