Expat Switzerland News

Latest 10 news items tagged Switzerland

8 Jan at 6 PM 2018

Expat tax avoiders in Switzerland forced to come clean

A significant rise in the number of expat tax avoiders in Switzerland turning themselves in has taken place since international laws forced Swiss banks to share offshore clients’ details. For many decades, traditional Swiss banking secrecy shielded the mega-rich from their tax liabilities as well as encouraging the use of Swiss banks for money laundering by criminals and terrorists worldwide. Switzerland signed into the Automatic Exchange of Information Act put forward by the Organisation for Economic Cooperation and Development in...
5 Dec at 6 PM 2017

Wealthy expats fleeing Britain in fear of post Brexit tax status

Reports show over 12,000 non-domiciled expat professionals have left the UK over the past year, with another 55,000 planning to leave. The mass exodus is focused on the City of London financial district with its specially orchestrated non-dom tax rules, introduced to encourage top financial talents to take temporary assignments in the UK. With Brexit looming, the privileged few aren’t hedging their bets after an announced new crackdown on long-term non-doms. Changes in the law will mean non-doms will need to have been resident...
30 Nov at 6 PM 2017

Plunging pound angers Brit retirees on frozen pensions

More than half a million UK expat pensioners are suffering from the effect of the plunging pound on their frozen state pensions. UK expats living in EU member states were told in September their state pensions would still be upgraded annually as per the ‘triple lock’ rule. The agreement covers British pensioners remaining in the EU post–Brexit a well as those in the European Economic Area and Switzerland, but no mention was made and no reprieve was given to the half a million and more pensioners living overseas. For several...
20 Oct at 6 PM 2017

State pensions not enough for comfortable expat retirement

New research reveals state pensions worldwide don’t provide enough for a comfortable retirement in any country. A study by the Swiss bank UBS has made it crystal clear that relying on a state pension anywhere in the world makes no sense, as all pay the minimum amount necessary to cover basic expenses. The bank’s research identified a pension gap in all major world countries’ state pensions large enough to make even the necessities of life difficult to cover. The widest gap is found in Hong Kong, one of the world’s most...
6 Oct at 6 PM 2017

Spousal programmes help trailing partners of expats relocating to Switzerland

Switzerland is a favourite for expat finance professionals for its pay scales and career-boosting opportunities, but unhappy spouses and families can lead to assignment failure. According to a recent survey, Switzerland does a less than successful job of making spouses and families of expat professionals feel at home and welcome. Work in the small, undeniably beautiful and extremely wealthy country is a sought-after assignment for ambitious professionals in the financial sector, but the problems facing trailing spouses and children...
29 Sep at 6 PM 2017

Expat salaries increase the most in Saudi Arabia and Switzerland

Expatriate professionals in the pharmaceutical and banking industries are sitting pretty if they’re based in Switzerland with its reputation for extremely high salaries, but those working in Saudi Arabia’s petrodollar economy get even more money. The oil and gas, banking and pharmaceutical industries are favourite sectors for expats whose main objective is to make huge amounts of money out of their specialities. It’s no coincidence that life in the two hotspots of Saudi Arabia and Switzerland is geared to the luxury end of the...
14 Sep at 6 PM 2017

Expat retirees favour Ecuador for its varied options

Ecuador is still one of the most popular retirement destinations for expats, according to the latest survey. There’s a great deal of choice as regards retirement destinations for older expats determined to enjoy their lives in the sun, with Ecuador ticking most of the boxes and gaining yet another place in Expat Insider’s Top Ten listing. Whether the priority is beaches, vibrant city life, historic homes in the High Sierras or charming small towns on the mainland, retirees have been arriving for several decades. For beach...
24 Aug at 6 PM 2017

Home Office error sees 100 EU expats threatened with deportation

In the latest Brexit-related scandal, the British Home Office sent 100 deportation notices to EU expats, threatening removal if recipients didn’t leave voluntarily. In a move indicating its inability to deal correctly with EU expats living and working in the UK, the Home Office mistakenly sent letters to 100 European nationals ordering them to leave the country or face forced removal. One expat, married to a Briton and resident in the UK for most of the past decade, was told she must leave within a month as she was ‘a person...
17 Aug at 6 PM 2017

UK expats warned sterling to fall below euro by 2018

Worse is yet to come for British state pensioner expats as a major investment bank warns the value of sterling will have crashed to below that of the euro by early 2018. In an FX Overview note sent out to clients last Friday, analysts at Morgan Stanley predicted the value of the pound sterling is due to fall to below the value of the euro for the first time ever. As a result, the euro will become the strongest of a basket of major currencies, and UK expat pensioners living in Europe will find themselves between the proverbial rock and...
9 Aug at 6 PM 2017

Buy to let loans even more popular with UK expat investors

Following on from last year’s considerable increase in expat applications for buy to let mortgages, 2017’s total to date is even higher. Over £500 millions’ worth of enquiries for UK buy-to-let mortgages have been made to one lender since the beginning of this year. The amount represents a 130 per cent increase on the same period in 2016, with 25 per cent of enquiries coming from UK expats working in high-salaried locations. Brits in the UAE accounted for a quarter of the total, with 12.5 per cent from the USA, Hong Kong at nine...