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Swiss city aims to lure UK’s rich with promise of low tax

Swiss city Lucerne is trying to lure UK companies and professionals with low tax rate.

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Lucerne hopes to attract wealthy investment bankers and hedge fund managers looking to avoid the UK’s hefty 50p tax with rates which are among the lowest in Switzerland.

The canton of Lucerne has declared the lowest corporate taxes for companies moving from the UK “subject to negotiation” of as low as 10% by 2012. It offers a competitive tax regime for professionals and pointed out that, since June 2004, EU citizens have been able to buy property in the country.

Lucerne has hired accountancy firm BDO and a UK company called Relocate to Switzerland to assist with its push. Relocate to Switzerland says it has recently moved in excess of 20 UK citizens to Switzerland and has advised a number of UK companies on relocating there.
 

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