Finance and economics mentoring
New Horizons Paraguay
Ticker tape by TradingView

How to avoid wealth tax in Switzerland?

Status
Not open for further replies.
Who should I contact other than the used car salesman? xD I⁤ tried two law firms in Monaco to help me get my residency there, but they⁣ seem to have so much else to do, it's unbelievable... So I stopped running after⁢ them to take the steps myself to settle in Monaco, so I called a private︀ banker directly because I have to open an account there.

I explained the origin of︁ my funds (amateur crypto mining in 2015) with an invoice authenticated by a bailiff of︂ the purchase of the mining equipment. But that didn't seem to convince him because the︃ traceability of the funds afterwards is no longer possible because I played too much with︄ my cryptos in seven years...

For Switzerland, I will also need an account to be︅ able to make nice deposits in 1 to 2 years, or why not make loans︆ against collateral and thus not touch my assets and therefore enrich myself. Could it also︇ make me more credible in the eyes of the Monegasque private banker if I wanted︈ to try my luck in Monaco again?
 
Surely there must be something i'm missing. All this thread is to avoid paying less‌ than 1% of your net worth?



How did you calculate your taxes to get 300K/year?‍ Try this calculator, do you obtain the same result?
 
Yes. Because today it's‍ 1%, and tomorrow it will be 2,5% like in Geneva for the "tax shield" for⁠ "covid purposes", because those leftist bastards managed to pass a law to rob the rich⁤ some more and more.

And I repeat, I prefer to have a low profile and⁣ not to be listed as rich for the moment, the time to see the bad⁢ situation evolve...

Yes, the same calculator and︁ same result. For a net worth of 30m€ in Geneva it's 295’033 CHF and for︂ Lugano, it's 130’149 CHF.

Because bitcoin will grow enormously in 5-10 years (I'm young), only︃ lump sum will be possible anyway for me.
For the "tax shield" (Geneva and Vaud︄ only, not Ticino), I find it difficult to understand the calculation, I have different results︅ than examples found on the internet... otherwise I will be able to go and live︆ in these French-speaking cantons.
 
Well this‌ is to be seen but if your wish is to live in that area while‍ being tax free there's a way and a really easy one.

Step 1: Obtain a⁠ passport that will let you freely enter EU (if you already have an EU passport,⁤ even better. If not the St. Lucia's one is great choice because it's the only⁣ one that will let you obtain a passport with an investment in non-interest-bearing government bonds⁢ that you will have to keep for 5 years. After 5 years they will refund︀ the money. So it's a free passport.).

Step 2: Obtain tax residency in Georgia without︁ any staying requirements thanks to the HNWI program. Georgia is a territorial taxation country︂ and according to the law crypto are not sourced anywhere hence is tax exempt.

Step 3: Now your tax residency is in Georgia and you could freely live in︃ Switzerland up to 90 days and depending on the passport you got in the first︄ step up to 90 days / 180 days in France or Italy without triggering any︅ tax residency.

Step 4: Form a Swiss association about anything, for example crypto enthusiasts (that︆ would be really amusing) in the place where you want to reside in Switzerland that︇ will be sponsored by yourself. A Swiss association can rent / buy apartments, own cars︈ and so on.

Basically it's a way for you to have a place where to︉ reside in Switzerland and use a car without being the owner so you can move︊ between Swiss / EU as you please.

To form the association you will likely need︋ a resident Swiss fiduciary that will cost you couple K / year.

How was the︌ saying "rich owns nothing but control everything"?

@James Spader if you feel this︍ post is "too much" for the public feel free to move it inside︎ the mentor group.
 
marzio said:
marzio said:
Step 3: Now your tax residency is in Georgia and you could freely live in Switzerland up to 90 days and depending on the passport you got in the first step up to 90 days / 180 days in France or Italy without triggering any tax residency.
Click to expand...
Click to expand...
Where is he going to stay for the remaining 9 months?
This doesn't work: if he doesn't stay in Georgia he will be deemed to be tax resident elsewhere (most likely in Switzerland).

Toggle signature

@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 
In Switzerland you are considered tax resident⁠ if you stay more than 90 days every 6 months.

The strategy will work like⁤ this:

90 days in Switzerland
90 days in Italy / France near the border so⁣ he could drive with his car.

Guess what?

After 90 days in italy or France⁢ you are still allowed to spend 90 days in Switzerland without triggering tax residency there.︀

Switzerland will not consider him tax resident because he will stay less than 90 days︁ and neither France or Italy.

Add some holiday time in the mix (Spain?) to even︂ lower time spent in Switzerland and nobody will bother him.

If he will use the︃ Swiss association, Switzerland will not even know that he is staying there because his name︄ will not show up anywhere.

HNWI in Georgia doesn't require you to be present in︅ the country. Read the article. You will only have to pay 25K gel a year.︆
 
Correct!
Add to it the fact that⁠ not even local Georgian banks will accept this laughable HNWI status for tax purposes. It⁤ also needs to be renewed every year and since this status is about to be⁣ phased out all this is short lived.
You should not promote such a status when︁ you only know it from the internet.
Moreover, nobody has to "pay" GEL 25k for︂ this nonsense.
 
So do you.

Do you work in⁠ the Georgian parliament to know such an insider informations?

Your claims are based on your⁤ assumptions that could be very much wrong so let's stick to what the law says.⁣

This is what the article says. I spoke to various Georgian attorneys and all︀ confirmed that it works like this.

If you have a differnt experience please enlight me.︁

But you know what?

Who cares about Georgia?

Does MM2H suits you better?
 
Than you have to live like that. And talking and︄ telling a private banker which you have no clue who he is on the phone︅ and even better in Europe 😉 your life story even does not exactly fits the def︆ of "low profile".
 
You forgot Monaco which is in the middle, with the possibility of living there for⁤ 90 days without having to be a tax resident.

No but seriously, this is getting⁣ hilarious! The goal was to live in Switzerland, not to find a way to⁢ have to stay there as little as possible!! X'D

Finally, if I have to rent︀ 4 permanent homes at an average of 5k€ per month, it's the same as paying︁ a lump sum...

On paper at least, I don't︄ see any country that have as many good features as this one. I think I'll︅ end up paying a lump sum. My wife says I'm an extremist...

Thank you so much !

One story for the banker, another for the State. And yes I have a︊ low profile when I spend 6k€/month for the moment when I have 30m€, it's just︋ 0,24% per year...
 
I *probably* have a larger wealth than︇ you simply because i've been in BTC since 2010... and only pay 0.05% wealth tax︈ in Switzerland each year, it was set by my accountant years ago and never changed,︉ and never updated, and not too many questions were asked at the time....

Chances are︊ unless you are open book, it will be set at xCHF and just continue to︋ pay and don't bank in the country for more than the usuals, or within Europe︌ (CRS) etc if tax resident there.
 
Can understand you. I'm in the same situation. Although⁠ already made the move to Switzerland (but didn't payed taxes yet, not sure if I⁤ gonna show everything..)
As you said, wealth tax sucks, since you have to show all⁣ your assets. Wouldn't do it if the possibility is there. So I think Lump Tax⁢ isn't that bad to be honest. Lets say it is 1% then you should definitely︀ be able to make more then 1% from your wealth. If not, then you are︁ doing something wrong (I'm not yet there as well... since most is crypto, but I︂ think it is a bad idea to have all the egss in one basket).

One question regarding lump tax. Do you know which information they need for it? Maybe this︃ would be also an option for me.
I mean if they also want to know︄ all your assets and so on then it doesn't make a difference. As far as︅ I know only few people are getting the lump tax in Switzerland.

PS: Just found︆ this. Its for zug
https://www.handelszeitung.ch/politik/kanton-zug-erhoeht-grenze-fuer-pauschalsteuer-763990According to this, if I understand it correct, you can︇ apply to lump-sum taxation only if your net worth is more then 11 million. That︈ means that you still would somehow be forced to show your assets. Maybe I don't︉ understand it, so please correct me if I got it wrong.
 
  1. No insider info necessary. I⁢ already explained it to you in another thread.
  2. The article you linked does not say︀ anything about paying GEL 25k p.a. . Nobody has to pay anything (except some meager︁ government processing fees) for this status. Try reading the article before posting!
  3. It is difficult︂ to enlighten someone who does not do basic research. This forum is full of knowledgeable︃ posts about Georgia and it's tax system (with links to sources). Just search and read.︄
  4. What you posted in #25 can bring people in serious trouble. There is a good︅ reason why the Georgian HNWI status is not exactly popular: Have you ever seen this︆ certificate? Do you know what data it contains? Ever spoken to a local bank how︇ they treat people who come up with this nonsense certificate?
  5. I've never been in favour︈ of MM2H after its revamping.
 
Posting your assumptions based on your theories means explaining somehing? You are‍ speculating what COULD happen.

Georgia is still territorial taxation and has a HNWI tax regime.⁠

Will it end?

It will end someday but till now it's an option so why⁤ not talking about it?

I admit i badly worded︃ it but i meant this.

I did︆ my research and spoke to differet lawyers in Georgia and simply i have a different︇ opinion than yours 🙂

Fair enough, i don't.

What's the problem with the certificate?
 
Well, check this https://internationalizenow.com/wp-content/uploads/2020/03/certificate-of-residence-georgia.jpg .
It has not changed until today and will not change since too few are‌ issued.

You will spot that this is not exactly a serious tax certificate, specifically when‍ your foreign passport number serves as tax number.
If you want to make use out⁠ of HNWI in GE, it is best to combine it with real-estate purchase worth min.⁤ USD 100k. That way you can have a short-term residence permit which at least gives⁣ this certificate some sort of legitimacy - even though banks will still be overly suspicious.⁢
 
LOL this indeed is a joke.

So which serious tax residency options with little time spent in the country are we left‍ with?
 
In Georgia‍ there is none. The only serious option there is ordinary tax residency (= 183 days⁠ in any rolling 12-months-period).

Aside from some SE-Asian countries, you will end up with Cyprus⁤ and Switzerland.
Others in this forum have mentioned Mexico but I have zero experience with⁣ countries in the Americas.
 
Status
Not open for further replies.

JohnnyDoe.is is an uncensored discussion forum
focused on free speech,
independent thinking, and controversial ideas.
Everyone is responsible for their own words.

Quick Navigation

Forums

User Menu

Login
Community platform by JohnnyDoe © 2025 JohnnyDoe
Top Bottom