Steps to take when moving to Switzerland - Finance Valley Lake ...

Tax - UK drivers for migration
• Push factors
– Increase in top personal income tax rate to 50%
– Personal allowance and tax relief on pension contribution clawbacks
– Changes to residency rules and erosion of non-dom privileges
– Handling of investigations into the industry
– Increasing quantity of anti-avoidance legislation (TOAA & DRR)
– IME (investment manager exemption) - transfer pricing & the potential to tax an
offshore fund in the UK
• Pull factors
– Other jurisdictions have infrastructure, investor base, cost/other benefits
– Other jurisdictions have significant tax advantages, e.g. level of income subject to
tax minimal and defined in advance rulings, low tax rates, no on-shore tax
implications for offshore fund product
– Switzerland forming clusters of fund managers in places like Pfäffikon around
Zurich and Geneva