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Old 08.04.2022, 13:37
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Where should a millionaire retire?

As the title says, if one is retiring and planning to take the capital payout from the 2nd pillar and will have peanuts income from AHV, then where would be ideal place to live in CH or a neighboring land where one's assets will be the least taxed? Find lots of info and calculators on income tax but weirdly hardly anything on asset tax of a few million? Anyone got some advice?
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Old 08.04.2022, 13:53
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Re: Where should a millionaire retire?

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As the title says, if one is retiring and planning to take the capital payout from the 2nd pillar and will have peanuts income from AHV, then where would be ideal place to live in CH or a neighboring land where one's assets will be the least taxed? Find lots of info and calculators on income tax but weirdly hardly anything on asset tax of a few million? Anyone got some advice?
If you are in the lucky circumstances of having these millions I would get a tax and/or financial advisor. That advice is not that expensive and also will give you a good idea on what is taxed in Switzerland to start with when you get out your pillar 2.
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Old 08.04.2022, 13:59
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Re: Where should a millionaire retire?

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As the title says, if one is retiring and planning to take the capital payout from the 2nd pillar and will have peanuts income from AHV, then where would be ideal place to live in CH or a neighboring land where one's assets will be the least taxed? Find lots of info and calculators on income tax but weirdly hardly anything on asset tax of a few million? Anyone got some advice?
would you really be completely location free? if so, why Switzerland or nearby? Or would you consider something on the other side of the world?

if some local tie, then you could just look at the few surrounding cantons and use their tax calculators. however, it is hard to get a true picture as there are some many cantonal variations beyond tax rate e.g. tax treatment of real estate.
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Old 08.04.2022, 13:59
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Re: Where should a millionaire retire?

Itís not about money!

Itís about where your friends and family are and where you are at home. You canít buy happiness and you canít take your money with youÖ
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Old 08.04.2022, 14:00
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Re: Where should a millionaire retire?

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Itís not about money!

Itís about where your friends and family are and where you are at home. You canít buy happiness and you canít take your money with youÖ
of you could plan in advance and move to that country where you want to retire. then your family will be there.
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Old 08.04.2022, 14:12
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Re: Where should a millionaire retire?

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Itís not about money!

Itís about where your friends and family are and where you are at home. You canít buy happiness and you canít take your money with youÖ
I agree with what you are saying, but if we make it about the money, you need to balance the cost of living with taxation.

To give a concrete example, we plan to retire to Spain, where the taxes on unearned income seem brutal enough compared to Switzerland that I am already looking at mitigation measures, but this is more than offset by the lower cost of living, particularly housing. The weather is better too.
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Old 08.04.2022, 14:47
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Re: Where should a millionaire retire?

I would look at Sweden if it is for retirement.

No wealth tax, no property tax on new builds for first 15 years* & no inheretance tax.
After 0.75% but capped.
High cost dentist protection, no health insurance payments.
Attractive property market.

Fantastice nature & fresh seafood

Last edited by Sigh; 08.04.2022 at 15:02.
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Old 08.04.2022, 14:51
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Re: Where should a millionaire retire?

Buy a yacht with home port BVI or something, have your official residency onboard and the world is your oyster, caviar and champagne.
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Old 08.04.2022, 15:02
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Re: Where should a millionaire retire?

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Itís not about money!

Itís about where your friends and family are and where you are at home. You canít buy happiness and you canít take your money with youÖ
Some of us would rather have distance and peace
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Old 08.04.2022, 15:08
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Re: Where should a millionaire retire?

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If you are in the lucky circumstances of having these millions I would get a tax and/or financial advisor. That advice is not that expensive and also will give you a good idea on what is taxed in Switzerland to start with when you get out your pillar 2.
Thanks! Can you recommend a good service?
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Old 08.04.2022, 15:09
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Re: Where should a millionaire retire?

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Thanks! Can you recommend a good service?
Will send you a pm.
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Old 08.04.2022, 15:11
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Re: Where should a millionaire retire?

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As the title says, if one is retiring and planning to take the capital payout from the 2nd pillar and will have peanuts income from AHV, then where would be ideal place to live in CH or a neighboring land where one's assets will be the least taxed? Find lots of info and calculators on income tax but weirdly hardly anything on asset tax of a few million? Anyone got some advice?
asking for a "friend"?
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Old 08.04.2022, 15:12
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Re: Where should a millionaire retire?

Thanks all! At the moment for the next few years at least am planning to stay in CH or possibly a bordering country. Question is which Canton is best?
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Old 08.04.2022, 15:16
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Re: Where should a millionaire retire?

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I would look at Sweden if it is for retirement.

No wealth tax, no property tax on new builds for first 15 years* & no inheretance tax.
After 0.75% but capped.
High cost dentist protection, no health insurance payments.
Attractive property market.

Fantastice nature & fresh seafood
Arthritis, old age and cold weather really?
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Old 08.04.2022, 15:25
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Re: Where should a millionaire retire?

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Buy a yacht with home port BVI or something, have your official residency onboard and the world is your oyster, caviar and champagne.
Did that kind of thing in my youth, even got my coxs cert. And while I still enjoy a day sailing nothing would get me to retire on a boat.
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Old 08.04.2022, 15:29
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Re: Where should a millionaire retire?

i'd consider moving back to the UK.
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Old 08.04.2022, 15:38
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Re: Where should a millionaire retire?

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Thanks all! At the moment for the next few years at least am planning to stay in CH or possibly a bordering country. Question is which Canton is best?
I thought UR, NW, OW and SZ had the lowest wealth taxes.
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Old 08.04.2022, 15:39
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Re: Where should a millionaire retire?

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i'd consider moving back to the UK.
The problem is that you have to pay capital gains tax.
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Old 08.04.2022, 17:00
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Re: Where should a millionaire retire?

Wealth tax in Switzerland on 1m capital would be a pitance. And would reduce as you spend it.
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Old 08.04.2022, 17:09
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Re: Where should a millionaire retire?

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Wealth tax in Switzerland on 1m capital would be a pitance. And would reduce as you spend it.
It's not a pittance in all cantons and it does vary so it's worth a consideration. Although any investment income would be subject to income tax, which is probably a bigger issue.
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