Nonresidents are subject to Grisons wealth tax on assets that are economically connected to the canton. In practice, this limited tax liability mainly concerns real estate and business assets located in the canton of Graubünden, while foreign portfolios and movable property held abroad are not taxable in Grisons.

The cantonal tax law confirms that taxpayers with residence abroad must at least declare the income earned in the canton and the assets located in the canton. The taxable wealth base is the net wealth situated in Graubünden as at 31 December or at the end of tax liability.

This guide summarises the scope, valuation framework, and compliance requirements for the 2025 tax year for nonresident individuals with assets in Grisons (Graubünden).

1. Scope of Limited Tax Liability

A nonresident becomes liable for Graubünden wealth tax if they hold any of the following:

• Residential or commercial real estate situated in the canton of Grisons / Graubünden
• Land or agricultural property located within the canton
• Permanent establishments or fixed places of business (e.g., hotels, restaurants, workshops, offices) in Graubünden
• Business assets allocated to a Graubünden branch, permanent establishment, or place of effective management

Assets outside Switzerland — such as foreign securities, overseas real estate, and non-Swiss bank accounts — are excluded from the Graubünden wealth-tax base, although they may still be relevant in the residence state for rate progression or reporting.

2. Valuation Basis

Grisons applies cantonal valuation rules that are harmonised with federal law but implemented locally by the cantonal tax administration:

• Real estate: Cantonal tax value (Steuerwert / valeur fiscale), typically below open-market value
• Securities and bank assets: Year-end tax value using official federal tax value lists and FX rates
• Business assets: Book or fair value according to Swiss accounting standards, adjusted under cantonal practice where necessary
• Pension assets: Occupational and pillar 3a pension capital are generally exempt from wealth tax until payout

For nonresidents, the tax return for persons with residence abroad requires declaration of all Graubünden-situs wealth as at year-end, including any Swiss real estate and other assets connected to the canton. The tax value of property is determined by the Graubünden tax authority and typically reflects a fraction of market value based on location, type, and use.

For more technical detail on valuation within this canton, see Valuation Rules.

3. Debt Allocation

Debt allocation for nonresidents in Grisons follows the Swiss principle of economic connection combined with proportional allocation:

• Mortgages secured on Graubünden property are deductible from the wealth-tax value of that property.
• Other debts are deductible only insofar as they can be economically tied to Swiss assets or allocated proportionally.
• If the taxpayer owns property in several Swiss cantons, total debt is allocated among cantons in proportion to the taxable values of the assets in each canton.

Interest on debt is relevant for income tax purposes and is apportioned across jurisdictions by reference to Swiss-sourced assets and income, including inter-cantonal allocation.

4. Allowances & Exemptions

Nonresident taxpayers in Grisons generally do not benefit from the full range of personal allowances and social deductions granted to resident individuals. However, certain items are usually excluded from the wealth-tax base:

• Tax-exempt pension capital (2nd pillar and pillar 3a) until withdrawal
• Normal household goods and personal belongings
• Limited technical or statutory exemptions required under harmonised cantonal law

For nonresidents, the effective wealth tax burden is primarily driven by the property’s tax value, the progressive cantonal wealth tax scale, municipal tax multipliers, and the allocation of debt.

5. Double Tax Treaties

Under Switzerland’s double tax treaties, taxation of immovable property is typically assigned to the state where the property is located. As a result, Grisons retains the right to tax real estate and related business premises situated in the canton, even when the owner is resident abroad.

Relief is usually provided in the country of residence through:

• Exemption with progression, or
• Foreign tax credit for Graubünden wealth tax against home-country wealth or property taxes.

It is important to check the specific treaty between Switzerland and your country of residence and to retain Graubünden tax assessments and receipts as proof of Swiss tax paid.

6. Swiss Tax Representative

Nonresidents will typically need to provide a Swiss correspondence address or appoint a tax representative when dealing with the Grisons tax authorities.

• Swiss fiduciaries, tax advisors, or lawyers can act as authorised representatives.
• Official correspondence and assessments are normally issued in German (and, in some communes, also in Romansh or Italian).
• Using a representative helps manage deadlines, language issues, and any appeals or objections.

7. Filing & Compliance

Nonresident owners of property or business assets in Grisons file a limited Swiss tax return covering Swiss-situs income and wealth. The wealth tax portion focuses on the net taxable assets situated in Graubünden as at 31 December (or at the end of tax liability).

• Official confirmation of the property’s tax value (Steuerwert / valeur fiscale)
• Mortgage and loan confirmations as of year-end
• Rental income and expense statements for let property
• Business balance sheet and asset schedules where a Graubünden permanent establishment exists

Filing instructions for nonresidents are set out in a dedicated guide for persons with residence abroad, which emphasises that the entire net wealth located in the canton is subject to Graubünden wealth tax. Filing deadlines broadly align with those for resident taxpayers; extensions are generally available upon request, often submitted via a Swiss representative.

8. Example — Nonresident Holiday Home in the Alps

Profile: Resident of Italy, owns a holiday apartment in a municipality in Grisons (Graubünden).

• Tax value (Steuerwert): CHF 900,000
• Mortgage balance: CHF 600,000
• Combined cantonal/municipal multiplier (illustrative): 1.55 (155 % of simple tax)

Step 1 — Net taxable wealth: CHF 900,000 − CHF 600,000 = CHF 300,000
Step 2 — Simple wealth tax (illustrative progressive rate): 3.0‰ of CHF 300,000 = CHF 900
Step 3 — Applying multipliers: CHF 900 × 1.55 = CHF 1,395
→ Indicative effective burden of around 0.47 % of net taxable wealth (illustrative only; actual rates and multipliers depend on the specific commune and year).

9. Ending Grisons Tax Liability

Wealth tax liability in Grisons normally ends when the property or business assets in the canton are sold, transferred, or otherwise disposed of. A final limited tax return must be filed and any remaining wealth tax and property gains taxes settled.

The Graubünden tax office should be notified promptly of the disposal to avoid continued assessments based on outdated ownership data.

10. Planning Insights for Nonresidents

• Obtain an estimate of the Graubünden tax value and local multipliers before acquiring property.
• Align mortgage structure and debt allocation with your broader cross-border wealth and estate planning.
• Review how Grisons wealth tax interacts with home-country rules and any applicable double tax treaties.
• Use a Swiss tax representative to manage filings, coordinate with your home-country advisor, and handle German- or multilingual correspondence.