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Wealthy Swiss citizens moving to Monaco to evade tax

20.08.2014
Homesoverseas.ru editorial office
23
In Monaco booming luxury real estate market, the developers expect the influx of millionaires and billionaires from Switzerland, trying to avoid tax increases, as well as opening bank information Swiss banks. It is reported by Bloomberg . The flow of new residents coming from Switzerland in connection with the gradual withdrawal of financial secrecy laws, according to the managing director of Jean-Claude Caputo Savills on the Cote d'Azur. Here they were, according to Caputo attract "safety, refinement and climate." However, a more important reason - the Swiss government signed in May 2014 an international agreement on the automatic exchange of banking data between countries, which in fact abolished the concept of banking secrecy. According to a study Spear's magazine and analytical WealthInsight agency of 38 000 inhabitants of Monaco, one in three is a millionaire. According to the calculations of Savills, if this figure will continue to grow, by June 2015 the value of property in Monaco will grow by a fifth. Thus, the market fully recover to 2007 peak. HomesOverseas.ru
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519 400 €
1 bedroom
build area 40 sq. m
household appliances
lake view
furniture
terrace
seller: Distant Property
461 100 €
1 bedroom
build area 55 sq. m
household appliances
air conditioning
furniture
terrace
seller: Distant Property
from 1 905 000 €
build area 106 sq. m
terrace
seller: NF Group