Go Back   English Forum Switzerland > Help & tips > Finance/banking/taxation  
Reply
 
Thread Tools Display Modes
  #1  
Old 30.12.2010, 00:55
Newbie
 
Join Date: Dec 2010
Location: Canada
Posts: 3
Groaned at 0 Times in 0 Posts
Thanked 0 Times in 0 Posts
SwissRob78 has no particular reputation at present
Q's about income tax, buying property, coporate laws/ tax etc

First, Canadian here, but with EU citizenship through my father. His company is wanting to open a Euro branch and i'm going to be the rep. If as profitable as it should be, it would be very large as a lot of the business would be Russian natural gas.

Now as anyone knows from legend Switzerland is seen as a tax haven. While less than France-my immediate choice is to live in Paris-the taxes seem higher than what i thought.

I plan on buying a place, probably in Lugano (I speak decent Italian and French-better weather wins out over Montreux or Lausanne) and will spend the requisite time in Switzerland for tax status.

So assuming i'm tax resident stemming from EU citizenship, own property, have a branch of a Canadian company registered in Switzerland but most likely doing the bulk of business outside or with foreign companies, and have a fair sum sitting in a bank collecting interest which i may or may not tap, does it make tax sense to live in Switzerland and have the branch based there? Are there resources to figure out tax rates both personal and corporate? (i read that owning proerty helps, but not sure how or how much) Any ideas about resources as to the legal issues of setting up a branch?

I understand the cantonal tax in Ticino added to the federal tax is about 40% compared to the top rate of about 62% in France-if i understood correctly-but 40% isnt really "low" and i'm wondering if i'm missing something with regards to switzerland as a tax haven...

(putting aside the quality of life issues for now, i want stricly numbers)

thanks in advance
Reply With Quote
  #2  
Old 30.12.2010, 02:04
miniMia's Avatar
Forum Legend
 
Join Date: Apr 2007
Location: romandie
Posts: 9,993
Groaned at 101 Times in 92 Posts
Thanked 9,106 Times in 4,522 Posts
miniMia has a reputation beyond reputeminiMia has a reputation beyond reputeminiMia has a reputation beyond reputeminiMia has a reputation beyond reputeminiMia has a reputation beyond reputeminiMia has a reputation beyond repute
Re: Q's about income tax, buying property, coporate laws/ tax etc

Have you done any searching around yet on the site? I know it's sometimes difficult. But I'll start you off with this thread:
Why move to Switzerland?

The title is vague but it should help you some.
Reply With Quote
  #3  
Old 30.12.2010, 06:54
HollidayG's Avatar
Forum Legend
 
Join Date: Jan 2008
Location: Kanton Zürich
Posts: 3,038
Groaned at 50 Times in 35 Posts
Thanked 1,179 Times in 737 Posts
HollidayG has an excellent reputationHollidayG has an excellent reputationHollidayG has an excellent reputationHollidayG has an excellent reputation
Re: Q's about income tax, buying property, coporate laws/ tax etc

Canton Zug and Canton Schwyz have the lowest taxes in the country.

They are known for having Mail Box companies( Briefkastenfirmen ) that
only receive mail where they are registered.

You could register your company in Zug and have a branch in Ticino.


As a side note: As a person with an EU passport, you will receive a B permit. You would be allowed to buy property, but you cannot rent it
out to others. i.e. you can live there as your personal property only.


Good luck!
Reply With Quote
  #4  
Old 30.12.2010, 08:09
Guest
 
Posts: n/a
Re: Q's about income tax, buying property, coporate laws/ tax etc

Quote:
View Post
First, Canadian here, but with EU citizenship through my father. His company is wanting to open a Euro branch and i'm going to be the rep. If as profitable as it should be, it would be very large as a lot of the business would be Russian natural gas.
If this business is so hot, why dont' you just go and seek the advice of a profesional tax adviser ?

What you'll get here is a mish-mash of truth and half truths, totaly clouding the situation and resulting in an expensive experience of hiring lawyers and accountants to put it right.
Reply With Quote
The following 3 users would like to thank for this useful post:
  #5  
Old 30.12.2010, 10:26
Newbie
 
Join Date: Dec 2010
Location: Canada
Posts: 3
Groaned at 0 Times in 0 Posts
Thanked 0 Times in 0 Posts
SwissRob78 has no particular reputation at present
Re: Q's about income tax, buying property, coporate laws/ tax etc

Quote:
View Post
Canton Zug and Canton Schwyz have the lowest taxes in the country.

They are known for having Mail Box companies( Briefkastenfirmen ) that
only receive mail where they are registered.

You could register your company in Zug and have a branch in Ticino.


As a side note: As a person with an EU passport, you will receive a B permit. You would be allowed to buy property, but you cannot rent it
out to others. i.e. you can live there as your personal property only.


Good luck!
i'd buy the house/ apartment as a summer home type and a stop over for ski trips. Never planned to rent it out. (i'd live in Paris over the winter months)

so corporate tax rates only apply to the canton in which the company is registered, not where a branch is located or the majority of business is done?

as a side note, when it says that country X considers one a tax resident if they live somewhere 120/ 180 etc days, how is that kept track of? If i bought a place in Switzerland and i cannot rent it out, am i automatically considered a tax resident, regardless of days spent? (I would imagine if i spent the 183 days in France then that tax resident status would supercede the swiss...?)
Reply With Quote
  #6  
Old 30.12.2010, 10:29
Newbie
 
Join Date: Dec 2010
Location: Canada
Posts: 3
Groaned at 0 Times in 0 Posts
Thanked 0 Times in 0 Posts
SwissRob78 has no particular reputation at present
Re: Q's about income tax, buying property, coporate laws/ tax etc

Quote:
If this business is so hot, why dont' you just go and seek the advice of a profesional tax adviser ?

What you'll get here is a mish-mash of truth and half truths, totaly clouding the situation and resulting in an expensive experience of hiring lawyers and accountants to put it right.
I've been trying to get basics on Switzerland, Monaco, Liechtenstein, Luxembourg, France and England as far as taxes go, then when i get the overall picture of what would be to the best advantage, get some professional council, as i'll be in Europe this summer...
Reply With Quote
  #7  
Old 30.12.2010, 12:00
Forum Veteran
 
Join Date: Feb 2008
Location: Zurich
Posts: 1,019
Groaned at 6 Times in 6 Posts
Thanked 345 Times in 262 Posts
bill_door has an excellent reputationbill_door has an excellent reputationbill_door has an excellent reputationbill_door has an excellent reputation
Re: Q's about income tax, buying property, coporate laws/ tax etc

Quote:
View Post
I've been trying to get basics on Switzerland, Monaco, Liechtenstein, Luxembourg, France and England as far as taxes go, then when i get the overall picture of what would be to the best advantage, get some professional council, as i'll be in Europe this summer...
why not ireland? corporation tax is 12.5% A lot of other multi nationals (Dell, Google, Amazon, etc) do exactly what you are trying to achieve
Reply With Quote
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Us tax - swiss tax - interest income vs. Loss on stocks javap Business & entrepreneur 4 31.10.2010 12:16
Tax on revenues from savings : same as income tax ? potom Finance/banking/taxation 5 15.09.2008 22:06
Holiday Property rental (Ski) Q's szhjcn Housing in general 3 27.08.2008 17:21
International Tax Laws omtatsat Finance/banking/taxation 2 12.08.2008 19:40
Tax issues - Withholding tax; advance tax; taxed pro-rata; and moving cantons Butimi Finance/banking/taxation 8 26.07.2008 19:42


All times are GMT +2. The time now is 09:28.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0