SARL to FIRE without stress?

[BRiquet]

Dear all,

I am about to FIRE (almost there financially) although 2 things are giving me afterthoughts:

1. I am on a B permis, and if I quit my job I am not sure I’d be allowed to stay in Swiss once my Permis reaches its renewal date (in ~4 years). For a number of reasons I am planning to retire in Switzerland (Geneva) - I am from the EU originally.
2. I bought an apartment and I have a mortgage with UBS. Here as well, will the bank give me an unfriendly phone call if I quit my job and they notice that my salary doesnt come in any more?

I’d love the thoughts of the community on the above, for now I was considering starting a company (SARL or else - the object would be to manage my family wealth), with the following advantages:

1. Officially I have a job (for the authorities and the Bank).
2. If needed I can play with my salary level (here again, to reassure the Banker, and also if I need a new mortgage or to rend an apartment in a few years)
3. I won’t fear anymore to be rebranded as ‘professional trader’, I’ll just invest the way I want inside the SARL.

This comes with constraints (extra costs/taxation/complexity) though so I’d do it only if really worth it.

Thanks a lot in advance for your thoughts & ideas!

 

[Baptiste Wicht]

Hi and welcome

I am on a B permis, and if I quit my job I am not sure I’d be allowed to stay in Swiss once my Permis reaches its renewal date (in ~4 years). For a number of reasons I am planning to retire in Switzerland (Geneva) - I am from the EU originally.

Can you convert it to a B permit?

I bought an apartment and I have a mortgage with UBS. Here as well, will the bank give me an unfriendly phone call if I quit my job and they notice that my salary doesnt come in any more?

Probably not in between the renewal date, but this will be an issue when you are renewing the contract.

You could already move your main bank to another bank and continue paying from there your mortgage. At least you will have a good excuse for four years.

I’d love the thoughts of the community on the above, for now I was considering starting a company (SARL or else - the object would be to manage my family wealth), with the following advantages:

I am not convinced it's a good idea to have a fake company. You don't have a job if you don't have customers, no? I don't think this will work.

If you are FIRE, you have a significant amount of money. You will need to discuss with your bank what your options are for renewing your contract without an income.

 

[BRiquet]

I am not convinced it's a good idea to have a fake company

I'd be curious to know if someone with legal/fiscal background would see it differently but in my mind it would be 100% legit: I'd be paying my taxes, etc. I guess its not much different from an independent trader who trades with his own capital inside a company/structure? Which brings me to the big advantage I see: No more debate on whether I am at risk of being labeled pro trader due to my financial decisions: I'd be a pro trader, no debate