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Monday, 24 March 2014

"The Rich Running Out Of Places To Hide"

Inquiries from Switzerland as residents flee 40% tax threat

There has been a rush of inquiries from the super-rich about moving to Jersey as a result of uncertainty over changes to tax rules in Switzerland and elsewhere.
Tax expert John Riva, of KPMG
It is also believed that a high profile figure in the fund management industry is relocating to the Island from the neutral European country within days.
And it is possible that he may be the first of many. Tax expert John Riva, of KPMG, said fund managers were a 'small, compact community' with 'something of a herd mentality'.
Estate agents and professional firms say they have experienced an upsurge in inquiries from potential new residents prompted by the possibility of non-Swiss people having to pay 40% tax.

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