Switzerland Reaches Out To Over-Taxed HNWIs
Thursday, October 6, 2011
Swiss cities including Bern, Lausanne, Lugarno and Lucerne have launched a new
marketing campaign promoting the low taxes and the business benefits of moving
to Switzerland, targeting UK companies and wealthy individuals suffering from
a serious case of the fiscal blues.
Relocate to Switzerland (UK) Ltd, in partnership with the Swiss cantons Vaud,
Lucerne, Ticino and Bern will host a half-day conference on Wednesday October 12
at the Westbury Hotel Mayfair, London to explain the benefits of the Swiss tax
system and lifestyle to over-taxed British companies and high-net-worth individuals.
A growing number of UK citizens and companies are said to be reviewing the
opportunities on offer in Switzerland in the light of rising taxes in the UK,
especially in the light of the new 50% income tax bracket, which has
applied to income over GBP150,000 per year since April 2010.
At the conference, the cantons will provide details of their low tax rates
while accountancy firm BDO, Switzerland will assist conference delegates on
the topics of setting-up a Swiss company and negotiating tax settlements. Zurich
lawyers Altenburger will also offer advice on securing Swiss residency, how
to purchase property and secure mortgages. Conference delegates will also be
given background on pension transfer and arranging healthcare insurance.
In addition, the event will include a presentation by a leading Swiss bank on the
current sterling/Swiss franc exchange rate situation and highlight the
Swiss National Bank strategy towards combating the rise of the Swiss franc.
“Relocate to Switzerland is actively helping Swiss cantons target high
net-worth citizens and companies in the United Kingdom,” said Ian Williams,
Director, Relocate to Switzerland. “After last year’s hugely successful
conference promoting Lucerne, we are delighted more cantons are coming to London
to update companies and individuals on Switzerland’s continuing low taxes
and pro-business environment."
Williams argues that the drawbacks of the adverse exchange rate caused by investor
flight to the Swiss franc are still outweighed by the fiscal and other benefits of relocating
"Conference attendees will have the opportunity to hear directly from
senior canton administrators and seek advice from leading Swiss banks, accountants,
lawyers and pension advisors," he added. "These cantons have some
of the most beautiful cities in the world, in addition to some of the very best
resorts and towns in which to live. We are confident that conference attendees
will learn that Switzerland is well-positioned to provide their businesses with
the best possible services to enhance their growth in a well-regulated, financially
strong and highly respected business environment."