Do you work in Switzerland in an embassy, a consulate, or an NGO? So you certainly have a legitimation card as a residence permit. What is it, and can you borrow in Switzerland in this situation? Explanations.
The legitimation card
A legitimation card is a document issued to employees of consulates, embassies and NGOs. This document is a residence permit attesting to the privileges and immunities enjoyed by its holder, and excludes the latter from the visa requirement for the duration of the exercise of his function . Concretely, the legitimation card therefore allows its owner to stay in Switzerland and replaces the residence permit.
Types of legitimation cards
There are several types of legitimation cards, for example of type C, D, see type K. These different types of legitimation cards determine the situation of the possessor: ambassador, employee of a diplomatic corps, employee of an NGO, member of the family of the main cardholder, etc. Whatever type of card is issued, it allows you to borrow money in Switzerland from banks and financial organizations.
Borrow money with a legitimation card
Private loans are highly regulated in Switzerland and foreigners do not always have the possibility, depending on the type of permit, to make a loan. The legitimation card, however, gives free access to credit and allows borrowing on the same conditions as a C permit holder . The basic borrowing conditions are as follows:
- Being employed in Switzerland for minimum 3 months.
- Be at least 18 years old, and maximum 70 years old. Note that a credit must be repaid at the age of 70.
- Not have lawsuits or acts of default of property.
- Do not have a negative history with the central credit office (ZEK).
- Overall, borrowing should not lead the consumer to over-indebtedness.
How to request?
It is possible in Switzerland to borrow up to USD 250,000, with a repayment duration between 12 and 120 months (depending on banks or agencies). If you have a legitimation card and are looking to borrow money in the form of a personal credit, the easiest way is to go to a credit bank or a credit agency like Greenlife Credit who will help you benefit from ” a better rate for your loan while guaranteeing maximum flexibility that will adapt to your needs.