Shunter, that'll depend on which CAA that is: if it is the Swiss one, no problems. And if it is any other one, that'll depend on local regulations like LASORS in the UK (though they are pretty close to JAR). Do they care if you come with the certificate of the flight test?
The renewal is and has been done for many years in the US, Canada, Brazil, Thailand... on FFS, the initial can be done outside JAR only in Croatia, as far as I know.
There is no need whatsoever to an ME IR flight test in the UK (which is one of the most expensive places to do it), though some people choose to do it for sentimental reasons. Switzerland offers a cheap alternative (though a couple of familiarization flights are advisable), as well as the new EU countries.
There was a loophole for doing it in the US till not long ago, but that is gone now...
good luck! IP