Lex Koller Quotas in Vaud and Montreux

How the quota system works

Each Swiss canton that permits foreign holiday home purchases under Lex Koller is allocated an annual quota of authorisations. The Canton of Vaud's quota is set by the federal government and represents the maximum number of new Lex Koller authorisations that can be granted in the canton in a given calendar year.

Authorisations are granted on a first-come, first-served basis within the quota. Once the quota is exhausted, no further authorisations are granted until the following year. Applications submitted after the quota is exhausted are held over to the next year.

Quota availability in Montreux

Montreux is one of the most sought-after locations in the Canton of Vaud for foreign buyers, and demand for authorisations is consistent. In years of strong international demand, the quota can be exhausted before the end of the calendar year.

Buyers should verify quota availability early in the purchase process — ideally before making an offer. The notary handling the transaction will be able to confirm current quota status and advise on timing.

Impact on transaction timelines

If the quota is exhausted when a buyer submits their application, the authorisation will be deferred to the following year. This can delay completion of the purchase by up to twelve months. Sellers and buyers should agree on how to handle this scenario in the purchase contract — typically through a long-stop date or a conditional clause.

In practice, most transactions in Montreux are structured to accommodate potential quota delays. Experienced notaries and agents are familiar with this process and can advise on appropriate contractual provisions.

Resale authorisations and the quota

When a Foreign Buyer Eligible property is resold from one foreign buyer to another, the new buyer must apply for a fresh authorisation within the quota. The fact that the property was previously authorised does not exempt the new buyer from the quota requirement.

This means that even well-established Foreign Buyer Eligible properties in Montreux are subject to quota availability at each resale. Buyers should not assume that a property's history of foreign ownership guarantees a smooth or immediate authorisation.

Key points

• Vaud has an annual quota for Lex Koller authorisations
• Quota is allocated on a first-come, first-served basis
• Exhausted quota defers applications to the following year — up to 12 months delay
• Verify quota availability before making an offer
• Each resale to a foreign buyer requires a new authorisation within the quota