in the Telegraph.co.uk

The company that owns the rights to the Virgin brand around the world is planning to relocate from London to Geneva in the coming weeks in a move that will reduce its tax bill.

George Osborne has previously championed announcements from companies moving back to Britain and the decision by one of the country’s most well-known entrepreneurs to move a key part of his business abroad is a blow to the Chancellor.

Switzerland and other tax havens have been targeting British companies, financiers and entrepreneurs amid claims that the country’s tax rates are not attractive for multinational companies.

Virgin Enterprise, which owns the trademarks and rights to the Virgin brand, is moving to Switzerland and is advertising for staff there. Although it is said to be a relatively small part of the business, Virgin insiders said it would become increasingly significant as the brand was franchised around the world.

A source said the decision had been made to maximise “tax efficiency”. Other Virgin businesses, including Virgin Atlantic and Virgin Media, would continue to be based and pay tax in Britain.



the full article


http://www.telegraph.co.uk/news/poli...e-Osborne.html


if you look for a job....

Is Richard Branson moving to the Lake of Geneva region, and wishing to take his prime management tool with him ?

Don't worry, they'll soon move back.

http://www.economist.com/node/18289282

Any article that opens with that misquote of Harry Lime gives me the bird...

The title is very inviting...

...talk about being disappointed !

A) This is the reason why they apparently are looking for locals. B) And that office space is scarce in Geneva most likely is also known to Richard Branson. I do not think that he means "Geneva" literally. It may in reality be Nyon or Rolle or Morges or Vevey or Montreux (etc). Those "Londoners" who will move in to establish things, will move back as soon as they have handed over business to the locals. And C) by "locals" I do not speak about residents of the Lake of Geneva area. These "locals" may well originate from Annecy, Aix-les-Bains, Chambéry, Evian, Neuchâtel, Freiburg im Uechtland, Bern or Biel

Let's hope the idiots do move to somewhere other than Geneva, the city has reached it's breaking point.

Why are they idiots?

Well as I said above, Coppet, Nyon, Rolle would be options. "Geneva" for outsiders, Vaudois for insiders

I've read in my local newspaper that Virgin has already a "Virgin Management" society in Geneva since 2005. (there's also a Virgin Megastore in France, just outside Geneva)

they are already here.....

Branson has been here for 10 or 15 years. His family office is based in Geneva, along with half of the former Goldman Sachs London team. He does all of his oil hedging from here as well.

First of all, Richard Branson
A) is no idiot
B) does not work with idiots
C) is a man of knowledge

He when speaking about "Geneva" does not necessarily mean the City of Geneva or the Canton of Geneva but rather the northern shores of the Lake of Geneva

He when deciding to relocate one of the companies of his group is NOT to take it back shortly, just because some of his chaps miss the London nightlife

He when placing a company anywhere does always try to employ as many locals as possible. Not out of generosity but out of entrepreneurial shrewdness

He may have found a good place in Geneva itself against all odds, true, but I rather expect him to place his thing into a place in "suburbia"

interesting. I have looked Virgin Management up in the commercial registry,
but no Mr Branson in the list of "authorized persons"

Poole Mark, de Grande-Bretagne, à Dardagny adm. président signature collective à 2 Murphy Stephen, de Grande-Bretagne, à Genève adm. signature collective à 2


Baxby David, de Grande-Bretagne, à Genève procuration collective à 2 Bayliss Joshua, de Grande-Bretagne, à Genève procuration collective à 2 Triolo Angelo, d'Italie, à Onex procuration collective à 2

Moving to a City where there is NO accommodation available, and where very little building is taking place (for many reasons, but mainly because it is completely walled in by Lake, mountains and the French border) - is not very smart.

There's no space at Cointrin for a gaggle of red and silver 747s and Airbus A.340s either.

There is accommodation and building space available, it is only a matter of being able to afford it, which shouldn't be too much of a problem for Virgin.

This entry in the phone-book
Virgin Management SA

cours de Rive 13
1204 Genève

Telefon:022 310 72 44

shows that the Virgin Group DID find offices right in the centre of Geneva

all the chaps listed in the Commercial Registry quite obviously DID find accommodation in the Geneva area. And again, nobody says that company now to be relocated will really be located inside Geneva downtown. I mean, that outer suburbs harbour much of commercial life is fact in most cities on this planet. In the case of Geneva, much of that Suburbia happens to be in the Canton Vaudois.

A cousin of me for some two or three decades has lived in a nice house in "upper" Coppet and speaks about living in Geneva. He of course is aware that it is the Kanton Waadtland, but Coppet and Nyon ARE outer suburbs of Geneva and "harbour" numerous international companies who all proudly proclaim to be in Geneva


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I am looking forward to scheduled flights of Virgin Helvetia out of GVA, BRN, BSL-MLH, ZRH and SGA(Altenrhein) fighting the LH/LX/OS-etc monopoly


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Right, but I thought "What? Only one?"

And an outspoken one at that.
I had such dreams...such fantasies...alas !

there would be if they did the right thing and got rid of all those orangey planes that are always late..