Swiss voters rejected the federal inheritance tax initiative

Switzerland Reaffirms Stability and Property-Rights Protection: Inheritance Tax Initiative Rejected by 79%       

On 30 November 2025, the Swiss electorate delivered a remarkably clear message: 79% of voters rejected the proposed federal inheritance-tax initiative, which aimed to introduce a 50% tax on estates exceeding CHF 50 million. The proposal was widely viewed as a radical shift away from Switzerland’s long-standing cantonal autonomy in tax matters and a potential threat to legal and economic stability.  
 

A Strong Signal in Favour of Property Rights and Continuity    

The overwhelming rejection reflects a core pillar of Swiss political culture: strong protection of private property rights. The public clearly indicated that far-reaching changes to wealth taxation are neither desirable nor compatible with Switzerland’s principles of legal certainty, predictability and subsidiarity.                
This vote sends an important signal not only domestically but also internationally: even in times of geopolitical and economic uncertainty, Switzerland maintains continuity rather than reacting with abrupt tax policy swings. This commitment to stability remains one of the country’s most important competitive advantages. 
 

International Context: Switzerland Stands Out Amid Increasing Fiscal Volatility Elsewhere    

At a time when many countries consider sweeping changes to wealth and inheritance taxation, Switzerland’s clear rejection underscores its attractiveness for wealth preservation, family offices and international investors. The protection of private property rights remains deeply rooted in Swiss public sentiment, and the risk of abrupt or politically driven changes is comparatively low — the recent referendum outcome reinforces this perception. Switzerland remains an attractive location for wealthy individuals considering the possibility of obtaining binding tax rulings combined with private tax-free capital gains, lump-sum taxation, and competitive tax rates. In addition, there is a very flexible inheritance and marriage law, that allows binding and case-specific arrangements. Foreign trusts and foundations are also recognized in Switzerland, which further increases estate planning flexibility and legal certainty.         
 

Conclusion           

The decisive 79% rejection of the inheritance-tax initiative underscores Switzerland’s strengths: stability, continuity, legal certainty and robust protection of private property rights.                 
STAIGER Attorneys at Law Ltd. is continuously supporting clients as they navigate the Swiss tax and estate-planning landscape with clarity and confidence. We would be pleased to review existing arrangements or identify new relocation opportunities in light of the current developments.