An expression of excellence called Switzerland

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Situated in the heart of Europe, Switzerland has one of the highest standards of living in the world.  Many factors contribute to making Switzerland a desirable country to live in: political stability, a high level of personal safety, respect for individual privacy, a reasonable level of taxation and excellent services.

From an economic viewpoint, the Swiss financial market guarantees discretion, security, flexibility and stability. The banking system is excellent and the taxation of individuals and legal entities is advantageous when compared with other European countries. Lugano is known for being the country’s third most important financial centre after Zurich and Geneva. This reputation, endorsed by the presence of dozens of banks and insurance companies in the city, is attributable to a sharp growth in the Canton Ticino’s economy during the XX century, which has led the city to consolidate its position as an international financial hub.

The banks are flanked by numerous operators ranging from important European players to small companies engaged in satisfying niche requirements. All of this has been made possible by the professional figures operating in Ticino, with their highly qualified expertise and attention to clients’ needs.

Maurizio Scuotto
Maurizio Scuotto

“We asked Dr. Maurizio Scuotto what strategies have been implemented to increase the politico-economic growth and affluence of Switzerland.”

“The growth policy for 2012-15 published by the Federal authorities has identified as many as seven areas of intervention: increased competition on the home market, international openness, the optimization of public finance, maintaining a high employment-to-population ratio, increasing human capital and the creation of a business-friendly and environment-friendly legislative context.”

“What tax opportunities are available to foreign expats in Switzerland?”

“The Swiss tax regime, owing to the fact that it works on a lump-sum basis, offers a unique opportunity to those wishing to take up residence in Switzerland. In some ways it is similar to the “non domiciled resident” status in force in the United Kingdom.

The income and patrimonial wealth to be taxed is calculated on the basis of a simplified method that calculates the individual’s estimated spending.

There are considerable differences in taxation between the various Swiss Cantons and Communes. So, the tax rate will depend on the place in which the individual chooses to live.

Our task is to assist our clients and to handle all the necessary procedures for obtaining a residence permit and for negotiating the amount of taxable spending with the local tax department.”

“Do many European companies choose to transfer their activities to Switzerland?”

“Yes, a great many indeed. We use the term relocation, by which we mean re-locating from one place to another. The relocation of a business activity, an individual or a family imply different types of problems. Our experience and in-depth knowledge of the local environment enables us to offer a complete relocation service, through a direct and transparent interface with the interested party, while guaranteeing confidentiality and security in all respects, aimed at providing the client with an all round assistance with each and every aspect pertaining to his relocation, whether of a professional or personal nature.

In recent years, many companies have relocated to Switzerland and the Canton of Ticino  in search of quality infrastructures, advanced technological knowhow, tax benefits, political stability and lean bureaucracy. It comes as no surprise, therefore, to discover that in the last four years, the Confederation has been reconfirmed as the most competitive nation in the world, among the 144 countries listed by the World Economic Forum?”

“What makes relocation to the Canton of Ticino so attractive?”

“In recent years, numerous companies, mainly from Italy, engaged in such industries as fashion, electronics, metal working and pharmaceutics, have relocated to the Canton of Ticino.

There are various reasons underlying their decision to move to the Canton of Ticino but the principal ones include an efficient legislative and juridical system, which reduces the time involved in completing any type of bureaucratic procedure and enables businesses to plan their middle to long term development, the geographic position of Switzerland in the heart of Europe and a flexible, highly productive labour market.”

“What incentives does the Canton of Ticino offer to new enterprises?”

“In 1997, the Canton of Ticino launched the economic scheme called “Copernico”, aimed at improving the Canton’s visibility abroad and facilitating the establishment of new companies on its territory. The legislative tool underlying this initiative is represented by the Law in favour of economic innovation, by which it is possible to support industrial and advanced tertiary companies which invest in projects of an elevated technological content.

Innovation is assessed in the ambit of products and manufacturing processes and the incentives being offered are of three types: tax benefits, outright grants – varying from  10% to 25%, and contributions towards staff training schemes.

So, there are many benefits open to companies wishing to relocate to Switzerland, in particular to the Canton of Ticino, and in order to fully exploit them, it is important to have the support of specialized international consultants, because the economic, financial and tax implications for Switzerland and the country of origin need to be pondered carefully.”

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Global Control servizi fiduciari SA

via Balestra 9,

6900 Lugano, Switzerland
+41 91 966 49 30

www.globalcontrol.ch

 

 

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