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Old 25.01.2013, 07:34
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Tina Turner to become Swiss

Interesting article in Blick this morning:
http://www.blick.ch/people-tv/schwei...id2182274.html

Tina Turner is someone I really admire. What is interesting is that according to Blick, she will not only become Swiss but will give up her US citizenship. I wonder why ?
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Old 25.01.2013, 07:37
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Re: Tina Turner to become Swiss

and I didn't know she was living in Switzerland....
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Old 25.01.2013, 07:46
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Re: Tina Turner to become Swiss

Congratulations to Mrs. Turner. I would gladly hand over my 2 passports for 1 Swiss one.
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Old 25.01.2013, 07:58
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Re: Tina Turner to become Swiss

In order to renounce US citizenship, even though she has been living in Europe for decades, she will have to pay a hefty 'Exit Tax' to the US which I think is 15% of all her assets.
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Old 25.01.2013, 08:25
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Re: Tina Turner to become Swiss

I think she's been subliminally yearning to do this for a long time ...... even singing about it:

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Old 25.01.2013, 08:31
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Re: Tina Turner to become Swiss

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In order to renounce US citizenship, even though she has been living in Europe for decades, she will have to pay a hefty 'Exit Tax' to the US which I think is 15% of all her assets.
Maybe she doesn't have that much, many stars spend it as fast
as it comes!
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Old 25.01.2013, 08:34
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Re: Tina Turner to become Swiss

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Maybe she doesn't have that much, many stars spend it as fast
as it comes!
Well everybody knows no one can't survive under 120 000 CHF per year...
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Old 25.01.2013, 10:08
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Re: Tina Turner to become Swiss

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In order to renounce US citizenship, even though she has been living in Europe for decades, she will have to pay a hefty 'Exit Tax' to the US which I think is 15% of all her assets.

Paying 15% now may be a wise move to avoid the sure-to-increase estate taxes, and a higher capital gains tax, etc. to which she would likely be subjected. While estimating my 2012 US tax bill, renouncing my US cititzenship crosses my mind, but I'm not wealthy enough for the Swiss to take me early!
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Old 25.01.2013, 10:41
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Re: Tina Turner to become Swiss

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Paying 15% now may be a wise move to avoid the sure-to-increase estate taxes, and a higher capital gains tax, etc. to which she would likely be subjected. While estimating my 2012 US tax bill, renouncing my US cititzenship crosses my mind, but I'm not wealthy enough for the Swiss to take me early!
She should probably 'purchase' her freedom from US citizenship taxation before the price goes even further up. When the facebook founder, Eduardo Saverin renounced, several US senators wanted to make renunciation even more difficult. Also as you said capital gains tax will go up. I think this is partily due to a new Obamacare tax. She will finally be able to invest without all the complications, etc. Right now most of the banks probably don't even want her business because of the legal risks form the US. In the end she is removing all the uncertainty for the future and making her life a lot easier. This is sad that the US is treating its expats so poorly but this is reality.
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Old 25.01.2013, 10:58
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Re: Tina Turner to become Swiss

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Paying 15% now may be a wise move to avoid the sure-to-increase estate taxes, and a higher capital gains tax, etc. to which she would likely be subjected. While estimating my 2012 US tax bill, renouncing my US cititzenship crosses my mind, but I'm not wealthy enough for the Swiss to take me early!
Devenir un Russe!
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Old 25.01.2013, 10:56
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Re: Tina Turner to become Swiss

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In order to renounce US citizenship, even though she has been living in Europe for decades, she will have to pay a hefty 'Exit Tax' to the US which I think is 15% of all her assets.
Why? Does every American have to do that?
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Old 25.01.2013, 11:05
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Re: Tina Turner to become Swiss

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Why? Does every American have to do that?
Only if you have more than $2M or so.

Tom
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Old 02.02.2013, 04:12
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Re: Tina Turner to become Swiss

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Congratulations to Mrs. Turner. I would gladly hand over my 2 passports for 1 Swiss one.
Why not just have dual citizenship? Or does a truckload of money mean it's more viable to give up US citz?
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Old 04.02.2013, 09:10
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Re: Tina Turner to become Swiss

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Why not just have dual citizenship? Or does a truckload of money mean it's more viable to give up US citz?
It's not about money, being a dual US-CH citizen is at best inconvenient, and at worse a real problem, regardless of how much money you have, or don't have.

Tom

Last edited by st2lemans; 04.02.2013 at 11:07.
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Old 04.02.2013, 10:47
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Re: Tina Turner to become Swiss

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It's not about boney
You're confused. They were Caribbean-British-West German; Tina Turner was American.
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Old 25.01.2013, 23:48
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Re: Tina Turner to become Swiss

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and I didn't know she was living in Switzerland....

She lives just a bit outside Zürich-Stadt on the eastern "lakeboard" . And is known to be shopping in quite normal shops in downtown. It is rumoured that her command of Züritüütsch is perfect. Judging from media-reports, she is well integrated now.
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Old 26.01.2013, 01:22
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Re: Tina Turner to become Swiss

Yes, another swiss I can brag about to me mates.
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Old 26.01.2013, 03:26
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Re: Tina Turner to become Swiss

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She lives just a bit outside Zürich-Stadt on the eastern "lakeboard" . And is known to be shopping in quite normal shops in downtown. It is rumoured that her command of Züritüütsch is perfect. Judging from media-reports, she is well integrated now.
You kidding me? Lol

http://youtu.be/uVUVLmL3A-M

On Swiss German TV, the presenter has to speak to her in English (and translate to the audience in German)! And this on Swiss National Day, the holiest of Swiss holidays!!!!

Google her interviews in German-language TV, she only speaks English!

Where is her "Züritüütsch"? WTF?! Talk about integration!

The reason behind all this is FATCA maybe, screwing her ability to handle her finances properly as she is still recording. Otherwise, she would have naturalized in 2007 when she was eligible.

Last edited by brusch; 26.01.2013 at 03:41.
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Old 26.01.2013, 10:40
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Re: Tina Turner to become Swiss

Eurovision contest entrant from Switzerland.

Possibly????

Maybe it`s not taxes. She just wants to represent
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Old 26.01.2013, 10:54
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Re: Tina Turner to become Swiss

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You kidding me? Lol

http://youtu.be/uVUVLmL3A-M

On Swiss German TV, the presenter has to speak to her in English (and translate to the audience in German)! And this on Swiss National Day, the holiest of Swiss holidays!!!!

Google her interviews in German-language TV, she only speaks English!

Where is her "Züritüütsch"? WTF?! Talk about integration!

The reason behind all this is FATCA maybe, screwing her ability to handle her finances properly as she is still recording. Otherwise, she would have naturalized in 2007 when she was eligible.
Suppose that her manager tells her NOT to speak Züritüütsch in public. But she is well up in the "Uuusrüefe" in Züritüütsch when local reporters get to her place. Once, some 5 years ago, she was very upset about neighbours whose grill was sending clowds of smoke into her private kingdom, and she apparently was very outspoken about "diä h... cha.... Lööli da-unne" etc

To use an example. Later King Hussein often had to act as translator for his grandfather, King Abdullah I . Disturbing for Hussein only was that he knew quite well that his Grandfather understood and spoke English perfectly well. -- To use another example. Mrs Merkel speaks fluently Russian, French and English, but all her speeches are given in German. And she always has interpreters with her,l even if she speaks with the partners in their language. --- I on a lengthy visit to Texas, to relatives overthere, acted as "translator-in-charge" for my parents, in spite of the fact that their command of English had become quite respectable and both also very very often spoke with the relatives in English. On the other hand, a cousin in Houston never spoke German, but as his Grandmother always spoke Swiss-German with him in his younger times (1930ies/40ies/50ies), he understood a lot of our exchanges, and so could make his thoughts. We BOTH knew all this and used it as best as possible

Back to Tina Turner. She of course was instructed by her manager about how to time things. It may also have been "Herr Vermögensverwaltungsberater" or/and "Herr Steuerdeklarationsundanlageberater" .

Last edited by Wollishofener; 26.01.2013 at 11:05.
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