* Swiss vote 50.3 pct in favour of immigration quotas for EU
* Vote is a turning point for EU-Swiss relations - Swiss govt
* Switzerland can't "cherry-pick" - EU lawmaker
* Swiss companies, banks rely on foreign professionals
By Alice Baghdjian and Albert Schmieder
ZURICH, Feb 9 (Reuters) - Swiss voters on Sunday narrowly backed proposals to reintroduce immigration quotas with the European Union, Swiss television reported - a result that calls into question bilateral accords with the EU and could irk multinational companies.
While neutral Switzerland is not a member of the EU, its immigration policy is based on free movement of citizens to and from the EU, with some exceptions, as well as allowing in a restricted number of non-EU citizens.
That pact on free movement of people, which came into force 12 years ago, was signed as part of a package of agreements with the EU, some of which could now be in danger of unravelling, to say nothing of the effect on a globally oriented economy that employs large numbers of foreign professionals.
"This is a turning point, a change of system with far- reaching consequences for Switzerland," Justice Minister Simonetta Sommaruga told journalists in Berne.
The European Commission in Brussels said in a statement that the vote went against the principle of free movement of people. It said it would examine the implications for its relations with Switzerland, taking into account the position of the government, which had urged citizens to vote 'no'.
"For us, EU-Swiss relations come as a package," said Hannes Swoboda, a member of the European Parliament. "If Switzerland suspends immigration from the EU, it will not be able to count on all the economic and trade benefits it is currently enjoying. We will not allow ... cherry-picking."
CLOSE RESULT
In a nail-biting vote, 50.3 percent backed the "Stop mass immigration" initiative, which also won the required majority approval in more than half of Swiss cantons or regions, Swiss television said.
The outcome obliges the government to turn the initiative, spearheaded by the right-wing Swiss People's Party (SVP), into law within three years.
It reflects growing concern among the Swiss population that immigrants are eroding the nation's distinctive Alpine culture and contributing to rising rents, crowded transport and more crime.
Net immigration runs at around 70,000 people per year on average. Foreigners make up 23 percent of the population of 8 million, second in Europe only to Luxembourg.
"This is an enormously important decision because the direction must now be shifted," SVP politician Luzi Stamm told Swiss television. "The Swiss population have said that, instead of free movement of people, quotas have to be introduced."