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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 to Switzerland.

"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."