Go Back   English Forum Switzerland > Help & tips > Finance/banking/taxation  
Reply
 
Thread Tools Display Modes
  #1  
Old 08.04.2022, 13:37
robBob's Avatar
Forum Legend
 
Join Date: Mar 2012
Location: https://youtu.be/JAJbqL2IMm8
Posts: 3,970
Groaned at 109 Times in 78 Posts
Thanked 4,157 Times in 2,180 Posts
robBob has a reputation beyond reputerobBob has a reputation beyond reputerobBob has a reputation beyond reputerobBob has a reputation beyond reputerobBob has a reputation beyond reputerobBob has a reputation beyond repute
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?
Reply With Quote
This user would like to thank robBob for this useful post:
  #2  
Old 08.04.2022, 13:53
roegner's Avatar
Moderately Dutch
 
Join Date: May 2011
Location: Zurich
Posts: 13,218
Groaned at 422 Times in 358 Posts
Thanked 18,010 Times in 8,211 Posts
roegner has a reputation beyond reputeroegner has a reputation beyond reputeroegner has a reputation beyond reputeroegner has a reputation beyond reputeroegner has a reputation beyond reputeroegner has a reputation beyond repute
Re: Where should a millionaire retire?

Quote:
View Post
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.
Reply With Quote
The following 7 users would like to thank roegner for this useful post:
This user groans at roegner for this post:
  #3  
Old 08.04.2022, 13:59
Phil_MCR's Avatar
Forum Legend
 
Join Date: Oct 2009
Location: Baselland
Posts: 15,880
Groaned at 312 Times in 210 Posts
Thanked 20,387 Times in 8,572 Posts
Phil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond repute
Re: Where should a millionaire retire?

Quote:
View Post
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.
Reply With Quote
This user would like to thank Phil_MCR for this useful post:
  #4  
Old 08.04.2022, 13:59
AbFab's Avatar
Forum Legend
 
Join Date: Sep 2006
Location: Zürich
Posts: 9,162
Groaned at 400 Times in 275 Posts
Thanked 14,007 Times in 4,807 Posts
AbFab has a reputation beyond reputeAbFab has a reputation beyond reputeAbFab has a reputation beyond reputeAbFab has a reputation beyond reputeAbFab has a reputation beyond reputeAbFab has a reputation beyond repute
Re: Where should a millionaire retire?

It’s not about money!

It’s about where your friends and family are and where you are at home. You can’t buy happiness and you can’t take your money with you…
Reply With Quote
The following 8 users would like to thank AbFab for this useful post:
This user groans at AbFab for this post:
  #5  
Old 08.04.2022, 14:00
Phil_MCR's Avatar
Forum Legend
 
Join Date: Oct 2009
Location: Baselland
Posts: 15,880
Groaned at 312 Times in 210 Posts
Thanked 20,387 Times in 8,572 Posts
Phil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond repute
Re: Where should a millionaire retire?

Quote:
View Post
It’s not about money!

It’s about where your friends and family are and where you are at home. You can’t buy happiness and you can’t take your money with you…
of you could plan in advance and move to that country where you want to retire. then your family will be there.
Reply With Quote
  #6  
Old 08.04.2022, 14:12
eyebeebe's Avatar
Forum Legend
 
Join Date: May 2009
Location: Pfäffikon SZ
Posts: 2,641
Groaned at 27 Times in 26 Posts
Thanked 3,735 Times in 1,563 Posts
eyebeebe has a reputation beyond reputeeyebeebe has a reputation beyond reputeeyebeebe has a reputation beyond reputeeyebeebe has a reputation beyond reputeeyebeebe has a reputation beyond reputeeyebeebe has a reputation beyond repute
Re: Where should a millionaire retire?

Quote:
View Post
It’s not about money!

It’s about where your friends and family are and where you are at home. You can’t buy happiness and you can’t take your money with you…
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.
Reply With Quote
The following 2 users would like to thank eyebeebe for this useful post:
  #7  
Old 08.04.2022, 14:47
Forum Veteran
 
Join Date: Sep 2020
Location: LaCote
Posts: 1,555
Groaned at 12 Times in 12 Posts
Thanked 2,885 Times in 1,095 Posts
Sigh has a reputation beyond reputeSigh has a reputation beyond reputeSigh has a reputation beyond reputeSigh has a reputation beyond reputeSigh has a reputation beyond reputeSigh has a reputation beyond repute
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.
Reply With Quote
The following 9 users would like to thank Sigh for this useful post:
  #8  
Old 08.04.2022, 14:51
slammer's Avatar
Forum Legend
 
Join Date: Jul 2009
Location: Lummerland
Posts: 5,822
Groaned at 258 Times in 177 Posts
Thanked 11,076 Times in 4,419 Posts
slammer has a reputation beyond reputeslammer has a reputation beyond reputeslammer has a reputation beyond reputeslammer has a reputation beyond reputeslammer has a reputation beyond reputeslammer has a reputation beyond repute
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.
Reply With Quote
The following 3 users would like to thank slammer for this useful post:
  #9  
Old 08.04.2022, 15:02
Island Monkey's Avatar
Forum Legend
 
Join Date: Mar 2008
Location: Wallis
Posts: 7,551
Groaned at 172 Times in 106 Posts
Thanked 8,875 Times in 3,966 Posts
Island Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond repute
Re: Where should a millionaire retire?

Quote:
View Post
It’s not about money!

It’s about where your friends and family are and where you are at home. You can’t buy happiness and you can’t take your money with you…
Some of us would rather have distance and peace
Reply With Quote
The following 6 users would like to thank Island Monkey for this useful post:
  #10  
Old 08.04.2022, 15:08
robBob's Avatar
Forum Legend
 
Join Date: Mar 2012
Location: https://youtu.be/JAJbqL2IMm8
Posts: 3,970
Groaned at 109 Times in 78 Posts
Thanked 4,157 Times in 2,180 Posts
robBob has a reputation beyond reputerobBob has a reputation beyond reputerobBob has a reputation beyond reputerobBob has a reputation beyond reputerobBob has a reputation beyond reputerobBob has a reputation beyond repute
Re: Where should a millionaire retire?

Quote:
View Post
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?
Reply With Quote
  #11  
Old 08.04.2022, 15:09
roegner's Avatar
Moderately Dutch
 
Join Date: May 2011
Location: Zurich
Posts: 13,218
Groaned at 422 Times in 358 Posts
Thanked 18,010 Times in 8,211 Posts
roegner has a reputation beyond reputeroegner has a reputation beyond reputeroegner has a reputation beyond reputeroegner has a reputation beyond reputeroegner has a reputation beyond reputeroegner has a reputation beyond repute
Re: Where should a millionaire retire?

Quote:
View Post
Thanks! Can you recommend a good service?
Will send you a pm.
Reply With Quote
  #12  
Old 08.04.2022, 15:11
Forum Veteran
 
Join Date: Mar 2010
Location: Greater Zürich Area
Posts: 1,101
Groaned at 166 Times in 103 Posts
Thanked 935 Times in 482 Posts
EPMike has a reputation beyond reputeEPMike has a reputation beyond reputeEPMike has a reputation beyond reputeEPMike has a reputation beyond repute
Re: Where should a millionaire retire?

Quote:
View Post
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"?
Reply With Quote
  #13  
Old 08.04.2022, 15:12
robBob's Avatar
Forum Legend
 
Join Date: Mar 2012
Location: https://youtu.be/JAJbqL2IMm8
Posts: 3,970
Groaned at 109 Times in 78 Posts
Thanked 4,157 Times in 2,180 Posts
robBob has a reputation beyond reputerobBob has a reputation beyond reputerobBob has a reputation beyond reputerobBob has a reputation beyond reputerobBob has a reputation beyond reputerobBob has a reputation beyond repute
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?
Reply With Quote
  #14  
Old 08.04.2022, 15:16
Jim2007's Avatar
Forum Legend
 
Join Date: Jun 2006
Location: Kt. Bern
Posts: 6,125
Groaned at 402 Times in 287 Posts
Thanked 10,112 Times in 4,413 Posts
Jim2007 has a reputation beyond reputeJim2007 has a reputation beyond reputeJim2007 has a reputation beyond reputeJim2007 has a reputation beyond reputeJim2007 has a reputation beyond reputeJim2007 has a reputation beyond repute
Re: Where should a millionaire retire?

Quote:
View Post
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?
Reply With Quote
This user would like to thank Jim2007 for this useful post:
  #15  
Old 08.04.2022, 15:25
Jim2007's Avatar
Forum Legend
 
Join Date: Jun 2006
Location: Kt. Bern
Posts: 6,125
Groaned at 402 Times in 287 Posts
Thanked 10,112 Times in 4,413 Posts
Jim2007 has a reputation beyond reputeJim2007 has a reputation beyond reputeJim2007 has a reputation beyond reputeJim2007 has a reputation beyond reputeJim2007 has a reputation beyond reputeJim2007 has a reputation beyond repute
Re: Where should a millionaire retire?

Quote:
View Post
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.
Reply With Quote
This user would like to thank Jim2007 for this useful post:
  #16  
Old 08.04.2022, 15:29
Phil_MCR's Avatar
Forum Legend
 
Join Date: Oct 2009
Location: Baselland
Posts: 15,880
Groaned at 312 Times in 210 Posts
Thanked 20,387 Times in 8,572 Posts
Phil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond repute
Re: Where should a millionaire retire?

i'd consider moving back to the UK.
Reply With Quote
The following 2 users would like to thank Phil_MCR for this useful post:
  #17  
Old 08.04.2022, 15:38
Junior Member
 
Join Date: Mar 2022
Location: Uri
Posts: 56
Groaned at 2 Times in 1 Post
Thanked 39 Times in 25 Posts
Montanara has no particular reputation at present
Re: Where should a millionaire retire?

Quote:
View Post
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.
Reply With Quote
The following 2 users would like to thank Montanara for this useful post:
  #18  
Old 08.04.2022, 15:39
Junior Member
 
Join Date: Mar 2022
Location: Uri
Posts: 56
Groaned at 2 Times in 1 Post
Thanked 39 Times in 25 Posts
Montanara has no particular reputation at present
Re: Where should a millionaire retire?

Quote:
View Post
i'd consider moving back to the UK.
The problem is that you have to pay capital gains tax.
Reply With Quote
  #19  
Old 08.04.2022, 17:00
Forum Legend
 
Join Date: Oct 2014
Location: Nyon
Posts: 8,760
Groaned at 559 Times in 415 Posts
Thanked 12,235 Times in 5,709 Posts
bowlie has a reputation beyond reputebowlie has a reputation beyond reputebowlie has a reputation beyond reputebowlie has a reputation beyond reputebowlie has a reputation beyond reputebowlie has a reputation beyond repute
Re: Where should a millionaire retire?

Wealth tax in Switzerland on 1m capital would be a pitance. And would reduce as you spend it.
Reply With Quote
This user would like to thank bowlie for this useful post:
  #20  
Old 08.04.2022, 17:09
Junior Member
 
Join Date: Mar 2022
Location: Uri
Posts: 56
Groaned at 2 Times in 1 Post
Thanked 39 Times in 25 Posts
Montanara has no particular reputation at present
Re: Where should a millionaire retire?

Quote:
View Post
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.
Reply With Quote
This user would like to thank Montanara for this useful post:
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
Millionaire Mindset Workshop - Lausanne Melitta Commercial events 21 27.08.2018 22:22
Am I a multi-millionaire Phil_MCR General off-topic 10 06.10.2010 17:27
Millionaire jailed for death by dangerous driving despite not being at the wheel swissotter International affairs/politics 40 07.02.2010 17:33
Slumdog Millionaire wins 8 Oscars Ebony General off-topic 4 18.11.2009 20:11
One in 25 Swiss taxpayers is a millionaire! RetiredInNH Swiss politics/news 11 13.11.2007 19:07


All times are GMT +2. The time now is 06:53.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2023, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0