You do however also have to meet a number of other requirements which can vary across the cantons but which typically include:

• demonstrating written and spoken knowledge of a Swiss national language
• integration into Swiss life and culture
• compliance with Swiss law and customs
• not being considered a threat to Swiss national security
• no time spent on Swiss social welfare in the last 3 years, unless you pay back the money received

What parameters do you check or tick? Is it something that you would consider for you and your family in the near or longer term future…? It is really a beautiful country and is most definitely worth it! Count me in!

Now, that being said – this is a blogpost from the perspective of a Financial Consultant, so let’s talk figures. A latest study from the “Zurich Office for Youth”, Credit Suisse and the OECD shows that the average direct cost of raising a child in Switzerland for a couple is 22’200 CHF per year, meaning over 18 years a direct cost of 400’000 CHF.

Beware, this does not include school fees – so if you think of sending little Heidi or little Einstein (I know he was German, but he became Swiss later on, so it still works) this amount can go up quite significantly.

Coming back to the figure of 400’000 CHF, it is split as follow:

• 32% on accommodation (the more children you have, the more this number goes down in terms of proportion of income)

• 18% on day-care (unfortunately Swiss day-care is the most expensive in the world)

• 17% on food (such costs go up as your baby becomes a teenager that can literally eat anything without putting on weight – I know, so unfair…)

• 13% for healthcare

• 6% on clothing (again, as you can imagine dressing a 13 – 18 year old is much more expensive than a baby considering you pay mainly for the brands our youngsters/teens so desperately need to forge an identity)

• 1% for telecoms (only considers here children above 13 years old – so if little Heidi comes asking for a phone at 10 years old, don’t hesitate – it’s not in the official budget from the Zurich Office – and if you can get away with this explanation, you’ll know as a bonus you have an aspiring public official in the family)

• 14% on entertainment & miscellaneous incidentals and accidentals

Now, this is where I must promote what we do before letting you go. So here it is: you can’t plan for the above “ongoing cost” of raising a child, but you can certainly make sure you plan for higher education needs so when university cost of living and tuition “hits you”, you are ready for it …

Until then, we love our children …

Pay bills, make dentist appointment, take cat to vet, help kids with homework, cook dinner, do washing, sort out finances……the list of daily tasks for any parent can be never-ending so add the pressure of work into the mix and it’s not surprising that sorting out those finances is all too often at the bottom of the list, waiting for a day when you’ll have more time.

But……will you ever have more time and when you do will it be a bit too late – a bit late to plan for your children’s education, a bit late to plan for meeting your aspirations in retirement? In reality there’s always something you can do but the earlier you think about putting a plan in place the more options will be available to you.

If you speak to a financial adviser, they’ll take you through the essentials of financial planning for people living and/or working in Switzerland. Your adviser will consider your personal circumstances – family situation, employment history and future plans before providing recommendations to suit your individual needs.

Parents have many of the same questions as everyone else but there are obviously areas of particular interest such as saving for children’s education, how to make the most of tax advantages related to childcare and how to deal with inheritance issues. Key questions parents often ask include:

• How much should I be saving for my children’s higher education?
• Will I have saved enough for when I reach retirement?
• How can I maximize the tax advantages available to me in Switzerland?
• Should I consolidate the pension plans I’ve accumulated abroad?
• How can I pass wealth on to my children in a tax-efficient manner?

Depending on your individual situation the adviser will answer your questions and propose savings and investment solutions to suit your requirements. What action you decide to take based on this advice is up to you but whatever happens it’s one more thing you can cross off your list!