The victim was found bludgeoned to death in the underground garage of an apartment building in Chiasso, near the Swiss-Italian border, Ticino cantonal police said.
The two suspects, Italian citizens, were tracked down to their home town near Naples, although they were domiciled in Mendrisio in the canton of Ticino, police said in a news release.
Ticino police officials said the two men were arrested thanks to information that they passed on to Italian authorities, praising the “excellent cooperation between law enforcement agencies” in the two countries.
The Swiss federal justice department is in the process of making a formal request for the extradition of the two men.
Police earlier arrested a 38-year-old woman, a 24-year-old man and a 17-year-old youth in connection with the murder, which has shocked the Ticino town.
The youth was later released after being questioned.
According to local media reports, the death was connected to a demand made by the victim for payment of unpaid debts.