Expat Switzerland News

Latest 10 news items tagged Switzerland

30 Jan at 4 PM 2015

Number of Swiss outside the country continues to rise

The number of Swiss expats increased to nearly 750,000 in 2014, an increase of two per cent from the previous year. Some 14,276 Swiss citizens left the country last year, taking the official total living abroad to 746,885, according to the Federal Department of Foreign Affairs. The number also includes Swiss nationals working at embassies or consulate generals overseas. A large number of the new expats have chosen to live in neighbouring countries while continuing to work in their homeland because of the lower costs of living...
26 Jan at 2 PM 2015

Copenhagen and Bern lead the way in expat liveability index

Copenhagen and Bern are the easiest places for Europeans to relocate to, according to a new index by ECA International. The organisation, which advises firms on posting workers on foreign assignments, evaluated more than 450 locations across the world. Among the things it evaluated were: the lifestyle on offer in a city; the availability and cost of housing and utilities; the availability of health services; the climate; political tensions; the quality of air; personal safety; and infrastructure. ECA noted that that factors such as...
6 Jan at 9 AM 2015

US expat in Switzerland abandons citizenship mission after 43 years

A US expat who has been living in Switzerland for 43 years says he has finally given up hope of become a citizen of the country. Seventy-six-year-old Irving Dunn, formerly a professor at the landlocked country’s top university, explained that he was abandoning his second citizenship application because he would have to fork out 3,100 Swiss francs on top of the 3,600 francs he paid for his first application, which was rejected. Dunn, a retired chemical engineering professor and researcher at the Federal Institute of Technology...
8 Dec at 2 PM 2014

British expat has missing wallet returned after 18 years

UK expat Colin Mendoza got an almighty shock when police in Switzerland contacted him to say they had his missing wallet and passport – 18 years after he lost them on a train in the country. Mendoza fell asleep on a train journey from Zurich Airport to Geneva in 1996, and didn’t realise he had left his wallet on board until after getting off. He immediately reported that it was missing to police, before having to get a new passport as well as cancelling credit cards and ordering new ones. However, nearly two decades later,...
29 Oct at 6 PM 2014

US Justice Department cracks down on Swiss banking privacy

Swiss banks are being hounded by the US Justice Department to reveal all details of USA citizens’ secret accounts. Prosecutions as well as FATCA are being used to force traditionally private Swiss banks to give up the full details of money in accounts held by expats attempting to avoid paying tax in their home country. Switzerland was one of the last countries to sign up for the controversial US Foreign Account Tax Compliance Act. Credit Suisse and USB were the first banks to be hit by billions in fines for not revealing the full...
27 Oct at 6 PM 2014

Survey shows Asian hubs offer more bang for the expat buck

The recently-published annual HSBC Expat survey has revealed that Asian locations offer the most affordable costs of living due to their cheaper accommodation, utility charges and groceries. The well-regarded survey, based on expats’ ability to afford essential services and goods as well as on average disposable incomes, saw Switzerland hit the number one position as regards overall quality of life. However, for mere expat mortals rather than retired bankers, Asian destinations won out on sheer affordability. Thailand and Vietnam...
20 Oct at 6 PM 2014

Continuing FATCA chaos impacts long term US expats in Canada

Problems with retaining bank accounts and complying with complicated regulations are hitting hard on all US expats, but those who emigrated to Canada many years ago are experiencing the worst effects. Last February, the Canadian government finally signed on to co-operation with FATCA ruling as regards the disclosure of privately held offshore assets belonging to US expats resident north of the border. The steep penalties imposed on non-compliant foreign banks and the mass of paperwork required has led to many US and foreign banks...
16 Sep at 6 PM 2014

US renounce citizenship fee soars as thousands leave to avoid FATCA

The fee payable to the State Department by US citizens wishing to renounce their citizenship has soared by over 400 per cent since the introduction of the FATCA reporting system. Originally just $450, the charge for renouncing US citizenship now stands at $2,350. State Department officials claim the new amount represents the actual cost of the procedure and are admitting that demand for the service is at an all-time high. In some regions, the US Consular waiting list for the required expatriation interview is now six months or...
21 Aug at 6 PM 2014

Best 10 low tax jurisdictions for wealthy expats

The rash of changes in international tax laws have caused difficulties for wealthy would-be expats, but the globe still holds a number of low-tax jurisdictions happy to accept large pension pots and savings. A recent investigation revealed the top ten most tax-friendly countries based on actual tax rates, lifestyles, political and economic security and tempting expat packages for the wealthy or comfortably off. Many are idyllic tropical paradises, and several have tax rates as low as zero. The Bahamas is an ever-popular refuge with...
1 Jul at 6 PM 2014

Expats in Cyprus win settlement in mortgage misselling scandal

The ongoing scandal concerning mis-sold mortgages on expat homes in Cyprus has affected thousands of property owners on the island, but now looks as if it’s coming to an end. Rather than risk a UK High Court judgment against them, the Cypriot Alpha Bank and a consortium of 20 property developers have settled all claims. The good news came just a day before the court hearing was due to begin, leaving the thousands of expats terrified of losing their homes hoping the nightmare is over. According to lawyers, part of the settlement...