Tag: super rich

UK Not To Be Outdone By The Swiss In Losing The Super Wealthy To Other Countries

See a couple of posts below to see the Swiss about to cut their own throats with taxes.

The United Kingdom’s suppressive policies have consequences — with some wealthier individuals seeking greener pastures.

On June 24, Forbes reported that the U.K. is facing a massive transfer of wealth out of the country, “the largest single-year exodus of wealth ever recorded.”

Projections indicate 16,500 high-net-worth individuals — those whose “liquid investable wealth [is worth] $1 million or more” — are seeking residency in other countries.

Founder of Apex Capital Partners Nuri Katz helps people like this by offering guidance should they wish to relocate.

Katz stated this shift doesn’t signal that the upper class is fleeing in terror so much as it is making a backup plan that can be used when needed.

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Swiss To Vote On 50% Inheritance Tax That Risks Exodus Of The Super-Rich – People Won’t Stand For It And Will Bolt

In a national referendum set for November, the people of Switzerland will vote on whether the country should impose a 50% inheritance tax on the wealthiest of people — under a regimen so harsh that not even surviving spouses would be spared from the rapacious confiscation. Naturally, this is triggering predictions of a mass-exodus of wealthy people, with opponents pointing to a wave of departures the United Kingdom has witnessed in the wake of its own recent wealth-seizure move.

Under the proposal, a 50% federal tax would apply to inheritances and gifts above 50 million francs — about $63 million. The measure isn’t supported by the legislative Federal Assembly nor the executive Federal Council. However, under Swiss law, public proposals must be put to a nationwide plebiscite if 100,000 supporting signatures are collected. The signature campaign was led by Switzerland’s Young Socialists. 

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Hello Monaco, here we come