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Why is Switzerland home to so many billionaires?

Switzerland is not only known for its natural beauties, but also for housing the richest people in the world. The country’s billionaire density ranks second after Luxembourg and Hong Kong. ranks third in the world It’s laying down.

Among the richest residents in the country Owners of world famous brands and founders of large industrial companies.

Gerard Wertheimer, co-owner of Chanel, the heirs of Ingvar Kamprad, the creator of IKEA, and the founders of local healthcare giant Roche are also among the leading rich names in Switzerland.

Gerard Wertheimer Chanel

Switzerland, you know on political neutrality have a strong reputation and are politically active themselves of the most stable countries is considered one. This means that wealthy individuals will be safe from sudden leadership and policy changes.

The country has low rates for both companies and private individuals attractive tax taking advantage of the system and supporting Switzerland against other places. competitive advantage offers.

tax issue, of the welfare equation some of it and the form of income that very wealthy people tend to have, you guessed it not labor income. Most of their income is capital income or capital gains from companies they own.

Switzerland has no capital gains tax on financial assets for such wealthy individuals.

This means that the Swiss can benefit from the profit they make from selling an asset that has increased in value. they are not taxed resources.

Although there is no capital gains tax, Switzerland is one of the few European countries with a wealth tax. However, this tax is based on an individual’s net worth. such as 0.1% to 1.1% set to a relatively low level.

The country’s currency has steadily strengthened in recent years, reaching parity with the euro.

Swiss Franc

This means that you do not have to fear a major devaluation of the currency in Switzerland. Of course this factor is; political stability, strong legal and institutional structure related to. The country is also a leading country with world-class financial services and pharmaceutical and chemical industries. business centre It is accepted as.

The country’s annual event in Davos brings together global industry leaders. World Economic Forum Let us remind you that it also houses important business institutions such as.

World Economic Forum Davos

The Swiss banking sector and where anonymity reigns We must not forget that it has a reputation as a. This makes Switzerland a place where rich people can hide their money and potential can avoid taxes It makes it an attractive place.

It is often mentioned in the news and on social media that people with high incomes spend their money on… What they invested in Switzerland we heard. So if you were a billionaire, where would you keep your money?

Sources: CNBC International, Economic Raven

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Source: Web Tekno

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