Switzerland a Top European Tax Haven

The super and mobile wealthy who can live anywhere in the world have chosen Switzerland as their number one tax haven in a new survey

If you wanted to know where the super wealthy like to hide away from increasing taxes in countries like the UK, a new survey of the so called ‘mobile wealthy’ – i.e., those who can relocate overseas and not have their working lives affected by the move – prefer Switzerland above all other offshore tax havens.

The survey, which is a brand new one launched by Scorpio Partnership, strategic advisors to the wealth management industry, spoke to high net worth individuals and their advisers in 11 nations internationally to determine which country stands out as a top tax haven.

Switzerland came out on top and proved itself to be almost the perfect jurisdiction for everyone, as it practically all things to all men (and women)!

Published in May, following the Chancellor’s announcement about increasing tax on high earners to 50%, the survey identified the fact that yes, high net worth individuals are becoming increasingly worried about tax increases and the vulnerable state of the British economy – and as a result, they are looking overseas for a haven for their wealth.

Of all nations identified as suitable tax havens and appropriate lifestyle environments, Switzerland came out on top because of what the survey’s analysts are calling its “rounded appeal.” In other words, it almost offers all things to all men, as stated.

It has a fantastic fiscal environment that is conducive to wealth enhancement, at the same time it is a compliant nation according to OECD and G12 nation requirements, it offers a very high standard of living to its residents, has an appropriate timezone for international businesspersons and it has great infrastructure.  The latter means that it is a location where one can live and conduct business, where one can easily travel to and from and around, and where ones children can be well educated, and ones spouse can enjoy a great way of life for example.  It is also an attractive and desirable nation, which is why it easily took the number one spot in Scorpio Partnership’s Mobile Wealthy Residency Index.

Other nations to score well were the United Kingdom, (for non-domiciled Britons), Singapore, New York, Hong Kong, Jersey, Cayman Islands, Isle of Man, Monaco, Dubai and Guernsey.