Switzerland: Low-tax high life
(Times Online): Switzerland’s benign tax regime has long made it a favourite with pop stars and racing drivers, but these days its appeal is growing for members of Britain’s financial community, keen to avoid the 50% tax rate due next April, and other future blows to their wallets. Monaco and the Cayman Islands are more glamorous, and Gibraltar has the lowest corporate tax in Europe, but convenience and lifestyle play a big part in Switzerland’s appeal — a factor stressed by the country’s authorities, who have been trying to persuade the chief executives of FTSE 100 companies to relocate.
Category: Business
Yes Business is indeed pouring into Switzerland as the Cantons attract sophisticated high net worth businesses by insightful immigration policy and so the Swiss cover the hole in revenue caused by the piercing of bank secrecy with new types of financial business which generate huge economic benefit for all ,and provide significant employment and development opportunities . This is precisely what Cayman should be attracting .So the Swiss take the crisis and turn it into a huge advantage .Compare this with the rubbish spouted here in Cayman by so called Caymanians without the faintest clue about the issues of the financial industry and you will see why Cayman is headed for a downward spiral. If the Caymanians don’t understand what it takes to have a financial industry going forwards in the new era they won’t have it . They need to understand that they can’t play at having it. Lets close the law school and open a fishing and waitress school. Scholarships for young Caymanians going forwards should be limited to rope and thatch making.