Private Clients Services

								
																												Tailored tax, wealth and succession advisory for individuals, families and entrepreneurs

As soon as an individual starts to accumulate significant wealth, a wide range of questions naturally arise tax optimisation, choice of residence, succession and estate planning, donations, trusts, investments, retirement planning or international mobility.

These situations become increasingly complex when multiple projects coexist, assets are diversified or when individuals and families are internationally mobile. The interaction between different tax systems, cantonal regulations and personal objectives makes it difficult for non specialists to manage these matters alone.

To address these challenges, RSM Switzerland has developed a dedicated Private Client Services (PCS) practice, bringing together experienced tax specialists focused on private wealth, succession and cross border situations. Our teams combine deep Swiss expertise with the strength of the RSM international network, enabling us to deliver coordinated, pragmatic and sustainable solutions.

A comprehensive approach to private wealth

Our Private Client Services offering supports individuals, families and entrepreneurs throughout their personal and professional life cycle.

We provide a single point of contact covering tax, legal, social security, pension and wealth structuring aspects, while coordinating with trusted advisers in Switzerland and internationally where required. Our approach is tailored, forward looking and aligned with each client’s personal, family and business objectives.

Taxation of individuals

We provide comprehensive support to private clients in relation to individual taxation in Switzerland and internationally, including income tax, wealth tax and available deductions, while ensuring full compliance with federal, cantonal and municipal requirements.

Income tax

In Switzerland, individuals are subject to income tax at three levels: federal, cantonal and municipal:

Federal income tax
- Swiss federal income tax law is uniform across Switzerland. Tax rates are progressive, with a maximum rate of 11.5%.
Cantonal and municipal income taxes
- Each of the 26 cantons applies its own cantonal tax legislation. Municipal taxes are usually levied as a multiple of cantonal taxes. As a result, income tax rates vary significantly depending on the canton and municipality of residence, with combined cantonal and municipal rates generally ranging from approximately 12% to 31%.

Taxable income generally includes:

employment income (base salary, bonuses, equity compensation and benefits in kind);
self employment or business income;
pensions and compensation payments;
income from private investments (interest and dividends – capital gains are generally tax exempt in Switzerland);
income from real estate.

Income derived from a permanent establishment or real estate located abroad is generally exempt from Swiss taxation but must still be declared for rate determination purposes.

Employment income (dependent activity)

Individuals carrying out a dependent activity are taxed on their employment income net of social security contributions, including bonuses, equity incentives and relocation allowances.

The qualification as a dependent activity is typically assessed based on criteria such as:

acting in the name and on behalf of an employer;
limited decision making authority;
obligation to follow instructions;
use of employer provided tools and equipment;
regular remuneration from a single employer.

Several professional deductions may be available, depending on cantonal legislation.

Self employment income

All income derived from independent activities, whether in cash or in kind, is taxable. Capital gains realised on business assets form part of ordinary income.

Self employment typically applies to individuals operating as:

sole proprietors;
general or limited partnerships.

Indicative criteria include:

acting in one’s own name and on one’s own behalf;
bearing entrepreneurial risk and overhead costs;
having own premises or multiple clients;
absence of subordination.

Business income is also subject to Swiss social security (AVS) contributions. Losses may be offset against other income and subject to conditions, carried forward for up to seven years. As from January 1, 2028, the carryforward period will be extended to ten years.

Wealth tax

Switzerland does not levy wealth tax at federal level, but all cantons and municipalities impose a net wealth tax on worldwide assets, excluding foreign real estate and foreign permanent establishments.

Wealth tax rates are generally moderate and vary by canton and municipality, typically ranging from 0.2% to 1%.
Assets subject to wealth tax include, among others:

bank accounts and securities;
private investments;
real estate;
vehicles;
art objects.

Assets are generally valued at fair market value as of 31 December. Non listed shareholdings are valued using recognised methods based on net asset value and past earnings. Outstanding debts may be deducted to determine net taxable wealth.

Main tax deductions

A wide range of deductions may significantly reduce taxable income. Their availability and limits vary at federal and cantonal levels.

Professional deductions include commuting and meal costs, professional training, work related expenses and social security contributions.

Self employed individuals may additionally deduct business related expenses such as rent, depreciation, amortisation and operating costs.

Personal and family deductions may include:

interest on private loans and mortgages;
medical expenses above statutory thresholds;
charitable contributions;
childcare and alimony payments;
insurance premiums;
pension contributions (including pillar 3a);
maintenance costs for income generating real estate.

Personal allowances depend on marital status, number of dependants and personal circumstances.

Expatriate deductions

Under specific conditions, individuals qualifying as expatriates may benefit from additional deductions, such as:

relocation expenses;
travel costs;
housing costs in Switzerland;
education costs for children where no suitable public education is available;
commuting costs to and from Switzerland where the family home remains abroad.

Some cantons offer expatriates a lump sum deduction instead of itemised expatriate deductions.

Succession and estate planning

Succession planning is a core element of private wealth management in Switzerland, particularly given the cantonal nature of inheritance and gift taxation.

Within our Private Client Services, we support clients with:

structuring and anticipation of wealth transmission;
review and drafting of wills;
donation strategies and estate structuring;
coordination with family governance and long term objectives.

For complex inheritance and donation matters, our PCS teams work closely with our dedicated Swiss Gift & Inheritance Tax specialists.

Asset holding and investment structures

We advise private clients on the structuring and holding of private assets, considering tax efficiency, risk management and long term objectives.

Our services cover:

private investment and holding structures;
trusts and partnerships;
international asset holding strategies;
coordination of business, real estate and financial assets.

This expertise is particularly relevant to entrepreneurs, internationally active families and high net worth individuals.

Wealth and pension optimisation

We assist clients with the optimisation of their personal wealth across all life stages, including:

Swiss and foreign pension planning;
social security coverage and optimisation;
retirement preparation and withdrawal strategies;
coordination of insurance, pensions and private wealth.

Our integrated approach enables informed decision making and long term financial stability.

International mobility and lifestyle projects

Private clients are increasingly mobile. RSM Switzerland supports individuals and families with:

relocation to or from Switzerland;
choice of tax regime, including lump sum taxation;
coordination of arrival and departure tax matters;
administrative assistance and international tax coordination.

Dedicated solutions are available for:

Domiciliation in Switzerland and relocation abroad
Lump sum taxation
Swiss tax returns and personalised management

Family Office advisory

For families with complex or multi generational wealth, RSM Switzerland also provides Family Office advisory services, including:

multigenerational wealth and succession planning;
structuring and restructuring of family offices;
coordination of tax, legal, real estate and investment matters;
philanthropic and foundation related advisory.

Our approach is pragmatic, discreet and partnership driven, supporting families from establishment through long term sustainability.

How RSM Switzerland supports private clients

RSM Switzerland combines local Swiss expertise with the reach of the RSM Private Client Services international network, supporting even the most complex cross border situations.

We work closely with our clients to understand their objectives, anticipate risks and deliver clear, practical and coordinated advice aligned with their personal, family and business priorities.