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Is the party in Switzerland over for the UK's super-rich?

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Release Date:
02 September 2011
Source:
EGi

Switzerland has long been a place where the rich hide their cash - legitimately or otherwise. For UK high-net-worth individuals - including some, no doubt, from the property industry - the country's tax and privacy laws hold a strong appeal. But could that all be about to change?

... Andrew Goldstone adds that the removal of the tax benefits in Switzerland could even see high-net-worth individuals start to place their cash in other depositories, including property. "People may start to think that it's not worth the bother to hide their money in Switzerland and may repatriate it. So, we may find more money swilling about in the market," he says.
 

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