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  #21  
Old 26.09.2007, 16:28
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Re: Lump-sum taxation ("forfait tax") of resident aliens

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doesn't explain how you got to be on lump-sum tax program as non-EU under 55 citizen.
There are in reality no age restictions on lump-sum taxation...
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  #22  
Old 26.09.2007, 16:47
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Re: Lump-sum taxation ("forfait tax") of resident aliens

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Aren't you afraid they're going to arrest you - or does the UAE passport come with diplomatic immunity attached...

I'm not afriad of being arrested as I was preparing for this with the advice of my lawyers.

Also I still have to pay the US taxes for the next 10 years on the money I made before I renounced my citizenship. However to avoid this I simply used all the money I earned while working in London minus taxes to buy a home in Dubai.

The hedgefund I started actually is not owned by me. I had my lawyers set up a Panama private interest foundation.

This foundation owns the holding companies, the hedgefund company, and financed my home in Switzerland that I have to pay the company a mortgage.

So I work for the foundation as an advisor and they pay me a salary which I pay taxes on in america for the next 10 years. Since the Foundation is an entity to it's own the US can't charge me with anything since they can't legally say I own it.

The only thing the US has done is barred me from entering the USA for life.
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  #23  
Old 26.09.2007, 17:33
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Re: Lump-sum taxation ("forfait tax") of resident aliens

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There are in reality no age restictions on lump-sum taxation...
Well I'm nowhere near 55
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  #24  
Old 26.09.2007, 17:41
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Re: Lump-sum taxation ("forfait tax") of resident aliens

You'll find some information about this subject here.
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  #25  
Old 26.09.2007, 17:55
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Re: Lump-sum taxation ("forfait tax") of resident aliens

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There are in reality no age restictions on lump-sum taxation...
please explain



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You'll find some information about this subject here.
i've read that document, still it says non-EU must be at least 55,
EU citizens no age restriction
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Old 26.09.2007, 19:17
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Re: Lump-sum taxation ("forfait tax") of resident aliens

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please explain





i've read that document, still it says non-EU must be at least 55,
EU citizens no age restriction

never mind, just realized this scheme is just for the super-rich
the above document fails to explain that

silly me, of course when it says "non-working" - that's self-explanatory
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  #27  
Old 26.09.2007, 19:39
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Re: Lump-sum taxation ("forfait tax") of resident aliens

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never mind, just realized this scheme is just for the super-rich
the above document fails to explain that

silly me, of course when it says "non-working" - that's self-explanatory
If you Google 'switzerland lump-sum taxation' you will find several sites with info. This one says

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An applicant for the 'fiscal deal' must have a certified net wealth of not less than SFr2m. The individual concerned must not involve himself in any lucrative economic activity in Switzerland.
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  #28  
Old 27.09.2007, 07:47
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Re: Lump-sum taxation ("forfait tax") of resident aliens

contributing to the repression of working women, barred from entering US because of a tax snafu, a Panamanian foundation to avoid any fingerprints, a complicated web of vehicles to subsidize your mortgage...selfexiled, your mum must be very proud of you.

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I'm not afriad of being arrested as I was preparing for this with the advice of my lawyers.

Also I still have to pay the US taxes for the next 10 years on the money I made before I renounced my citizenship. However to avoid this I simply used all the money I earned while working in London minus taxes to buy a home in Dubai.

The hedgefund I started actually is not owned by me. I had my lawyers set up a Panama private interest foundation.

This foundation owns the holding companies, the hedgefund company, and financed my home in Switzerland that I have to pay the company a mortgage.

So I work for the foundation as an advisor and they pay me a salary which I pay taxes on in america for the next 10 years. Since the Foundation is an entity to it's own the US can't charge me with anything since they can't legally say I own it.

The only thing the US has done is barred me from entering the USA for life.
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  #29  
Old 27.09.2007, 15:19
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Re: Lump-sum taxation ("forfait tax") of resident aliens

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contributing to the repression of working women, barred from entering US because of a tax snafu, a Panamanian foundation to avoid any fingerprints, a complicated web of vehicles to subsidize your mortgage...selfexiled, your mum must be very proud of you.

1st. You jerk my mother died of breast cancer fours years ago. Yes she was proud of me and never stopped telling me that. She knew my plans from the beginning. Also she was the one who told me to leave America because it had no culture and was full of violent gun crimes.

2nd. Contributing to the repression of working women? Rubbish I hire more female employees then the Swiss national average for a company of my size. Also I pay much higher salaries then your average hedge fund or company. 10% of profits go to employees. In the US it's less then 5% of profits go to employees. Also everyone of my employees earns a six figure salary. Even the secretary when you add in bonuses.

3rd. Who cares about not being able to go back to the USA? No one! Why would I care when I live in Europe. Where there are so many different and the amazing cultures less then a couple of hours away by flight. Anyone who has live in America long enough knows that no matter where go in America it's always the same.

4th. People who are smart and aware of the current climate of banks going bust, people being sued for nothing, Big brother taking away freedoms, terrorism, and corrupt governments will take the time to arrange their finances in a way to be shielded from all these potentially harmful situations. It would be stupid not to protect what you have worked so hard for.

Enough said.
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  #30  
Old 27.09.2007, 15:30
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Re: Lump-sum taxation ("forfait tax") of resident aliens

I am curious to know why you are here. When I say here, I mean on the English Forum. Your posts seem to be simply : selfexiled telling everyone how clever and rich he is. Are you going to move beyond that at some point ?

Enough said.

dave


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1st. You jerk my mother died of breast cancer fours years ago. Yes she was proud of me and never stopped telling me that. She knew my plans from the beginning. Also she was the one who told me to leave America because it had no culture and was full of violent gun crimes.

2nd. Contributing to the repression of working women? Rubbish I hire more female employees then the Swiss national average for a company of my size. Also I pay much higher salaries then your average hedge fund or company. 10% of profits go to employees. In the US it's less then 5% of profits go to employees. Also everyone of my employees earns a six figure salary. Even the secretary when you add in bonuses.

3rd. Who cares about not being able to go back to the USA? No one! Why would I care when I live in Europe. Where there are so many different and the amazing cultures less then a couple of hours away by flight. Anyone who has live in America long enough knows that no matter where go in America it's always the same.

4th. People who are smart and aware of the current climate of banks going bust, people being sued for nothing, Big brother taking away freedoms, terrorism, and corrupt governments will take the time to arrange their finances in a way to be shielded from all these potentially harmful situations. It would be stupid not to protect what you have worked so hard for.

Enough said.
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  #31  
Old 27.09.2007, 15:44
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Re: Lump-sum taxation ("forfait tax") of resident aliens

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I am curious to know why you are here. When I say here, I mean on the English Forum. Your posts seem to be simply : selfexiled telling everyone how clever and rich he is. Are you going to move beyond that at some point ?

Enough said.

dave
with all that cash, I am very surprised that he hasn't managed to get round to spelling & grammar lessons ....
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  #32  
Old 27.09.2007, 15:45
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Re: Lump-sum taxation ("forfait tax") of resident aliens

The reason I'm here is I like to read through the forum to get a better feel for my new country. To see whats happening in different parts of the country and what are the issues and customs of different parts.

I'm not trying to show everyone how clever I am. I'm just trying to point out that with the right advice you can maximize your investment while paying a fair share of taxes.

Also to my knowledge everyone living in such a beautiful country as Switzerland is wealthy, healthwise, government wise, safety wise, culture wise, tax wise. So to me everyone is wealthy here.
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  #33  
Old 27.09.2007, 15:56
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Re: Lump-sum taxation ("forfait tax") of resident aliens

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with all that cash, I am very surprised that he hasn't managed to get round to spelling & grammar lessons ....

You never know I could have dyslexia like Richard branson, Ozzy Osborne and countless other people who are successful. Not being able to type correctly has no effect on someones creativeness. However I do understand you point.
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  #34  
Old 27.09.2007, 17:27
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Re: Lump-sum taxation ("forfait tax") of resident aliens

Maybe I am a jerk, selfexiled, but I look forward to more of this and less of what comes across to me as boastfulness and bragging in some of your posts in the finance/banking/tax and employment threads.

ps check your PM.

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The reason I'm here is I like to read through the forum to get a better feel for my new country. To see whats happening in different parts of the country and what are the issues and customs of different parts.

I'm not trying to show everyone how clever I am. I'm just trying to point out that with the right advice you can maximize your investment while paying a fair share of taxes.

Also to my knowledge everyone living in such a beautiful country as Switzerland is wealthy, healthwise, government wise, safety wise, culture wise, tax wise. So to me everyone is wealthy here.
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  #35  
Old 27.09.2007, 17:51
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Re: Lump-sum taxation ("forfait tax") of resident aliens

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You never know I could have dyslexia like ... Ozzy Osborne
He spells it 'dyslexia', most people spell it 'cocaine'. Allegedly.
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  #36  
Old 27.09.2007, 20:14
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Re: Lump-sum taxation ("forfait tax") of resident aliens

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He spells it 'dyslexia', most people spell it 'cocaine'. Allegedly.
lol maybe ozzy was a bad example. Anyway you get what i'm saying.
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  #37  
Old 03.10.2007, 11:20
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Re: Lump-sum taxation ("forfait tax") of resident aliens

I am in the early stages of considering relocating from the UK to Switzerland and taking advantage of a lump-sum taxation or fiscal deal.

I've been thinking of leaving the UK for some time now and my business is currently for sale. There would be a huge benefit for me in relocating before the disposal.

I understand the principle of lump-sum taxation well, but I understand the rate at which a deal could be negotiated varies from Canton to Canton. Valais is geographically ideal for us as we'd like to live in a French (or Italian) speaking area and stay within reasonable driving distance of the South of France. But other Cantons might suit, not least of which because they have a wider choice of property at the top end of the market.

So Valais, Berne, Genève, Fribourg, Ticino & Vaud are all possibbles, but I'm curious as to which of these Canton could offer an attractive deal and if so at what % of taxation?

If anyone can help I would appreciate any information
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  #38  
Old 03.10.2007, 13:59
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Re: Lump-sum taxation ("forfait tax") of resident aliens

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If anyone can help I would appreciate any information
If you are in that wealth and or income bracket, any number of Swiss private banks will be happy to assist with free advice.

I seem to remember someone telling me that if you open an account with 1meur at Credit Suisse they will even organise residency permits etc for you.

Daniel
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  #39  
Old 03.10.2007, 14:08
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Re: Lump-sum taxation ("forfait tax") of resident aliens

If you Google 'switzerland lump sum taxation' you'll find a lot of information including this.
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Old 03.10.2007, 16:07
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Re: Lump-sum taxation ("forfait tax") of resident aliens

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I am in the early stages of considering relocating from the UK to Switzerland and taking advantage of a lump-sum taxation or fiscal deal.

I've been thinking of leaving the UK for some time now and my business is currently for sale. There would be a huge benefit for me in relocating before the disposal.

I understand the principle of lump-sum taxation well, but I understand the rate at which a deal could be negotiated varies from Canton to Canton. Valais is geographically ideal for us as we'd like to live in a French (or Italian) speaking area and stay within reasonable driving distance of the South of France. But other Cantons might suit, not least of which because they have a wider choice of property at the top end of the market.

So Valais, Berne, Genève, Fribourg, Ticino & Vaud are all possibles, but I'm curious as to which of these Canton could offer an attractive deal and if so at what % of taxation?

If anyone can help I would appreciate any information
Hi Maximus Brutus,

I'm not familiar with those other Cantons tax programs. However I live in an estate in a Canton boarding Zürich and the taxes are very dear here. However one of my friends lives in Geneva and he is only paying 22% plus a 1.5% wealth tax on the Lump-Sum program.

In the Canton I live in currently I pay 35% in taxes on what the yearly rental value of my property is worth plus a 1.5% wealth tax. Which I believe is the highest rate for any Canton in Switzerland.

Below is how they calculated the taxes I would have to pay when I signed up to the Lump-Sum tax program.

For an example say the estate you wanted to purchase is worth 500,000 CHF a year in rental value:

1st. 500,000 CHF Yearly Rental x 5 = 2,500,000 CHF would be your yearly income.

2nd. 2,500,000 x 35% Tax Bracket = 875,000 CHF Your yearly income tax due.

3rd. 875,000 CHF + 1.5% wealth tax = 888,125.00 CHF would now be your yearly tax liability.

You should not have to pay as high of a tax percentage if you just stay away from my Canton. For the name of this Canton just PM me. Hope this has been a help.
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