Zurich Economy

Zürich is one of Europe's most important financial centres. The finance sector generates around a third of the wealth and a quarter of the jobs in the city. Various innovative businesses and industries form an important basis of the Zürich economy. Biotechnology and life sciences are currently enriching the medical tech sector, while niche markets such as the automotive supplier industry and aerospace as well as the rapidly expanding creative economy are enjoying similar success expandcollapse

Labour market & job-hunting

The labour market and employment law

The Swiss labour market has some of the most liberal employment laws in Europe. There is very little regulation. Salaries tend to be either negotiated individually or laid down in collective bargaining agreements for each sector. Conflicts between employers and employees are very rare thanks to well-established social partnerships, and this is reflected in productivity.

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Job-hunting

The Stellenlinks (in German) online platform has a comprehensive collection of links to public and private agencies, company employment websites and employment search machines.

As well as recruitment agencies, various large-circulation daily newspapers have special job-hunting sections, such as "Stellen-Anzeiger" and "Alpha" in the Tages-Anzeiger and the SonntagsZeitung and "NZZexecutive" in the Neue Zürcher Zeitung.

On the Business and Economic Development Division of the Canton of Zürich (in German) you can find help for job-hunting. The Arbeitsmarkt (in German) internet site provides tips on the subject of job-hunting and information about the regional employment centres.

Labour market & Job-hunting

Setting up a company

Information platform
gruenden.ch provides comprehensive information on how to set up a business and the right contact points. As well as a check list and a step-by-step introduction on setting up a company, it features a whole host of subjects, from permits and financing to intellectual property and location.

Consultancy
The Zürich StartZentrum (in German) will provide you with a free first consultancy session. The Office for the self-employed (in German) is the contact point for those looking to get out of unemployment and into self-employment.

Financing
gruenden.ch and the StartZentrum provide information and tips on the subject of financing.

Online start-up:
At StartBiz you can create your own company online.

More information:

Setting up a company

Zürich as a business location

Evaluating the location

We will be happy to support and accompany you in evaluating the location. Information on subjects relevant to setting up businesses such as taxes, the labour market and permits can be found here:

Information on industries and services that have real influence in the Zürich economic area and those which have future potential can be found under information about clusters on economic and business development website.

More information:

Advantages of the location

Zürich as a location has a whole host of advantages to plead its case. It is the economic motor of Switzerland, with 80 of the country's 100 largest companies being headquartered within an hour's drive. Firms of all sizes find top-qualified employees and specialists with international experience within the Zürich economic area.

The labour market has little in the way of regulation and productivity is high. Other central locational advantages are the relatively moderate tax levels, international accessibility and high quality of life.

More information:

Zürich as a business location

Taxes

Low levels of taxes
Swiss taxation levels are among the lowest in Europe. Companies and individuals are taxed on three state levels (federal, cantonal and municipal (in German). The canton of Zürich is attractive fiscally.

Avoiding double taxation
Switzerland has signed an agreement on double taxation with over 100 countries.

Various possible deductions
Depending on your municipality of residence, the extent of your income and wealth and your family situations, your tax burden will be a maximum of 35 per cent of your income. There are allowances for professional expenses, insurance premiums and family maintenance. Expatriates also benefit from further possible deductions.

Record low levels of value added tax
Nowhere in Europe is value added tax as low as in Switzerland. The regular rate is 8.0 per cent, everyday consumer goods are only taxed at 2.5 per cent while other goods and services such as medical care and education are totally exempt from value added tax.

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Taxes

Permits

Residence permit

Anyone working in the Canton of Zürich or staying longer than three months requires a permit from the cantonal migration office.

Work permit

EU-25 / EFTA countries
Due to the free movement of persons between Switzerland and the EU, nationals from the EU-25 / EFTA countries are considered to be on a level footing with native Swiss employees and do not require a work permit (other information).

Bulgaria, Romania, other countries
Nationals from Bulgaria, Romania and other countries who are living in Switzerland and wish to work require a work permit which must be supplied by their employer. Various approval criteria apply. You can find more information on the Internet site of the canton of Zürich work permits office:

You can apply for permits online at the eWorkPermits portal.

All general types of permit

The bewilligungen.zh.ch (in German) website provides an overview of the principal activities requiring a permit and those subject to declaration in the Canton of Zürich. You are basically recommended to check on a federal, cantonal and municipal level (The City of Zürich (in German)) whether any project requires a permit. Professional and sector-based associations are also useful points of contact in this respect.

Permits

Finding somewhere to live

You can find comprehensive information on the subject of real estate on this website.

The Business and economic development department of the canton of Zürich and the City of Zürich Economic Development department offer help when looking for offices, business and industrial space and land for building (from a net effective area of 500m2).

Information on the acquisition of real estate by persons abroad (Federal Office of Justice).

More information:

Office Market Report Switzerland 2012, Colliers (Zürich featured from page 26 et seq.)

Finding somewhere to live

SME

Small and medium-sized businesses (or SME) are those companies which have fewer than 250 employees. SME form the overwhelming majority of businesses and are responsible for two-thirds of jobs, which is why they are often called the backbone of the economy. SME are characterised by their above-average growth in productivity and contribute significantly to the economic diversity of the Zürich area.

 More information:

SME

Economic structure: statistics & clusters

Zürich is a leading location for work, research and finance, with countless firms from all sectors calling the region home. A significant proportion of internationally-operating companies have a global network, and companies looking to establish themselves in Europe will find the ideal conditions in Zürich.

You can find statistical information here:

Zürich's most dynamic economic sector is finance. Over a third of all banks in Switzerland have their headquarters in the Zürich financial centre. Zürich is also home the world's third-largest insurance hub.

The Zürich economic area is a leading research and knowledge location which contributes to the fact that a whole range of potentially strong-growth clusters can take advantage of the favourable framework conditions. Sectors worth mentioning here include the creative economy, information and communications technologies (ICT), life sciences and cleantech.

More Information:

Economic structure: statistics & clusters
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