London Bankers Look for Exits After âLast Strawâ Tax Increase
- Thread starter ASusilovic
- Start date
you do know that Singapore is ethnically chinese but is a totally independent nation right?
A cubic butt ton of Chinese live in Singapore, followed by Malay, Thai, and Filipino people. I think that is what he meant...
Quote from nazzdack:
You'll be ":eek: "-ing or ""-ing if Switzerland does something similar.
While the Swiss hedge fund industry is miniscule compared with London - there are only an estimated 50 hedge fund managers located in Switzerland - the Swiss Federal Banking Commission (EBK), an independent regulator of the Swiss banking industry, has expressed its support for changes to the Swiss tax and legal system to encourage more hedge fund managers to base their activities in Switzerland.
In a recent report turning the spotlight on the development of the Swiss hedge fund market, the EBK observed that Switzerland is home to some of the world's biggest hedge fund customers. According to the EBK, more than 5% of the assets invested in Switzerland are invested in hedge fund products, but about one third of the estimated $600 billion invested in funds of hedge funds comes from Switzerland, making it the world's second-biggest hedge fund investor after the United States.
The report suggested that changes to the tax and legal framework for hedge fund operations in Switzerland would encourage growth in the country's fund management industry and attract more fund managers. "Aligning the today unfavourable tax conditions with those of the most important foreign locations could facilitate the settlement of hedge funds managers in Switzerland," it stated.
Moreover, Switzerland's personal income tax system could be a strong lure for UK-based hedge fund managers. This system allows wealthy non-national investors and celebrities to effectively negotiate their own tax rate with Swiss cantonal governments, as long as they agree to reside in the country for part of the year.
http://www.hedgefundintelligence.com/eh/Article.aspx?Task=Report&IssueID=69016&ArticleID=2019556