Nonresidents are subject to Uri wealth tax on assets that are economically connected to the canton. In practice, this limited tax liability mainly concerns real estate (including holiday homes and rental property) and business assets located in Uri, while foreign portfolios and movable property held abroad are not taxed in the canton.

This guide summarises the scope, valuation framework, and compliance requirements for the 2025 tax year for nonresident individuals with assets in the canton of Uri.

1. Scope of Limited Tax Liability

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

• Residential or commercial real estate situated in the canton of Uri
• Land or agricultural property located within Uri
• Permanent establishments or fixed places of business (e.g., workshops, hotels, restaurants, cableway operations) in the canton
• Business assets allocated to a Uri 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 Uri wealth-tax base, although they may still be relevant in the country of residence for rate progression or reporting.

2. Valuation Basis

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

• Real estate: Cantonal tax value (Steuerwert), generally below open-market value and determined by the Uri tax authority on the basis of location, property type, and use (self-occupied vs. rented vs. holiday property).
• Securities and bank assets: Year-end tax value using official federal security valuation lists and foreign exchange rates.
• Business assets: Book or fair value according to Swiss accounting standards, with Uri-specific adjustments where required.
• Pension assets: Occupational and pillar 3a pension capital is generally exempt from wealth tax until payout.

The Steuerwert for real estate is the key figure for nonresident wealth tax calculations and may be significantly lower than market value. For more detailed principles, see Valuation Rules.

3. Debt Allocation

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

• Mortgages secured on Uri 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 across Swiss and foreign assets.
• If the taxpayer owns property in several Swiss cantons, total debt is allocated among cantons according to the relative taxable values of those assets.

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

4. Allowances & Exemptions

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

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

For nonresidents, the effective Uri wealth tax burden is mainly driven by the property’s tax value, the cantonal and municipal tax scales, and recognised debt.

5. Double Tax Treaties

Under Switzerland’s double tax treaties, taxation of immovable property is typically assigned to the state in which the property is located. As a result, Uri 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 Uri 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 Uri 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 Uri tax authorities.

• Swiss fiduciaries, tax advisors, or lawyers can act as authorised representatives.
• Official correspondence and assessments are issued in German.
• Using a representative helps manage deadlines, language barriers, and any appeals or objections.

7. Filing & Compliance

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

• Official confirmation of the property’s tax value (Steuerwert) from the Uri tax authority
• Mortgage and loan confirmations as of year-end
• Rental income and expense statements for let property (including vacancy and maintenance costs)
• Business balance sheet and asset schedules where a Uri permanent establishment exists

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 Apartment

Profile: Resident of Germany, owns a holiday apartment in Uri.

• Tax value (Steuerwert): CHF 780,000
• Mortgage balance: CHF 520,000
• Illustrative simple wealth tax rate: 2.8‰ of net wealth
• Illustrative combined cantonal/municipal multiplier: 1.40 (140 % of simple tax)

Step 1 — Net taxable wealth: CHF 780,000 − CHF 520,000 = CHF 260,000
Step 2 — Simple wealth tax (illustrative): 2.8‰ × CHF 260,000 = CHF 728
Step 3 — Applying multipliers: CHF 728 × 1.40 = CHF 1,019.20
→ Indicative effective burden of about 0.39 % of net taxable wealth (figures are illustrative only; actual rates and multipliers depend on the specific commune and tax year).

9. Ending Uri Tax Liability

Wealth tax liability in Uri 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 Uri tax office should be notified promptly of the disposal to avoid continued assessments based on outdated ownership data and to facilitate refunds or final settlements.

10. Planning Insights for Nonresidents

• Obtain an estimate of the Uri Steuerwert and applicable local multipliers before acquiring property.
• Align mortgage structure and debt allocation with broader cross-border wealth, inheritance, and estate planning.
• Review how Uri wealth tax interacts with home-country wealth or property taxes and any applicable double tax treaty.
• Use a Swiss tax representative to manage compliance, coordinate with your home-country advisor, and handle German-language correspondence.