Switzerland’s central bank has thrown its weight behind a stringent “too-big-to-fail” capital package for UBS, the country’s sole global bank since its 2023 takeover of Credit Suisse. Speaking in Bern on 11 December, Swiss National Bank vice-chair Antoine Martin said the regulator sees “clear financial-stability value” in the proposal, which could force UBS to hold up to US $24 billion in extra Common Equity Tier 1 capital from 2027.
Although Martin declined to comment on market chatter about UBS shifting its legal seat abroad, he acknowledged that higher Swiss capital standards inevitably sharpen the bank’s cost-benefit calculus. Mobility managers are treating the rumour mill seriously: London, New York and Singapore have reportedly been studied as alternative headquarters, each with distinct work-authorisation regimes, shadow-payroll exposures and personal-tax outcomes. A wholesale redomicile would trigger a wave of executive transfers, commuter arrangements and family relocations—precisely the kinds of complex moves that require rapid visa, housing and schooling support.
![Swiss National Bank Endorses Tougher UBS Capital Rules, Ignites Headquarters-Relocation Scenario Planning]()
To navigate such multifaceted immigration demands, corporate mobility teams often lean on specialist partners. VisaHQ (https://www.visahq.com/switzerland/) offers an end-to-end platform that clarifies visa requirements, secures work permits and tracks renewals for Switzerland as well as key hubs like the UK, US and Singapore, helping firms like UBS redeploy staff swiftly while staying fully compliant.
Swiss cantons such as Zug and Schwyz currently tempt senior expatriates with lump-sum taxation and generous deductions; those perks would vanish if leadership decamps. Conversely, a move to the UK would mean grappling with the new Electronic Travel Authorisation (ETA) for Swiss nationals, while the US and Singapore impose stringent short-term-assignment registration rules and strict social-security coordination. HR teams are therefore running scenario-planning exercises that cover everything from immigration lead-times and tax-equalisation recalculations to severance clauses for staff unwilling to relocate.
For now, most analysts still consider an overseas move unlikely—UBS employs some 25,000 people in Switzerland, and a headquarters shift could damage its domestic brand. Yet the SNB’s endorsement of tougher capital buffers keeps relocation risk alive. Mobility functions are advised to map critical roles, pre-screen visa pathways for priority employees and refresh global payroll set-ups so they can pivot quickly if the board decides Switzerland’s regulatory price tag is too steep.
Although Martin declined to comment on market chatter about UBS shifting its legal seat abroad, he acknowledged that higher Swiss capital standards inevitably sharpen the bank’s cost-benefit calculus. Mobility managers are treating the rumour mill seriously: London, New York and Singapore have reportedly been studied as alternative headquarters, each with distinct work-authorisation regimes, shadow-payroll exposures and personal-tax outcomes. A wholesale redomicile would trigger a wave of executive transfers, commuter arrangements and family relocations—precisely the kinds of complex moves that require rapid visa, housing and schooling support.
To navigate such multifaceted immigration demands, corporate mobility teams often lean on specialist partners. VisaHQ (https://www.visahq.com/switzerland/) offers an end-to-end platform that clarifies visa requirements, secures work permits and tracks renewals for Switzerland as well as key hubs like the UK, US and Singapore, helping firms like UBS redeploy staff swiftly while staying fully compliant.
Swiss cantons such as Zug and Schwyz currently tempt senior expatriates with lump-sum taxation and generous deductions; those perks would vanish if leadership decamps. Conversely, a move to the UK would mean grappling with the new Electronic Travel Authorisation (ETA) for Swiss nationals, while the US and Singapore impose stringent short-term-assignment registration rules and strict social-security coordination. HR teams are therefore running scenario-planning exercises that cover everything from immigration lead-times and tax-equalisation recalculations to severance clauses for staff unwilling to relocate.
For now, most analysts still consider an overseas move unlikely—UBS employs some 25,000 people in Switzerland, and a headquarters shift could damage its domestic brand. Yet the SNB’s endorsement of tougher capital buffers keeps relocation risk alive. Mobility functions are advised to map critical roles, pre-screen visa pathways for priority employees and refresh global payroll set-ups so they can pivot quickly if the board decides Switzerland’s regulatory price tag is too steep.
