(First off I do realize that someone has already asked this question but there didn't seem to be a conclusive answer.)
My flight reaches Zurich on July 4th at 7:25 pm, and the Schengen visa's validity begins from July 5th. I hold an Indian passport (residing in SingaporE), I checked that I don't need a transit visa for Switzerland, so I think I may be able to wait at the airport till 12am... I have called my country's airport-who told me to call Immigration- who told me to call the airline-who told me to call Immigration again... They all have agreed that it will "probably" not be a problem but as a first time solo traveler, would love to hear someone's experience on this matter.
*EDIT: So as expected, I was able to stay in the transit hotel overnight and exit immigration the next morning. The only problem I had was while boarding the connecting flight from Muscat, where I showed them my emails from the embassy and the airport/transit hotel and they agreed to let me board. I chose an earlier flight because I was saving (overall) a pretty penny - Yes it was incredibly risky and no, I don't recommend it.
If you do find yourself in my situation though, be sure to confirm your plan with all parties - embassies, airlines, hotel etc. And keep ALL email printouts as proof to show in case of a problem.