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By Benedicte Gravrand, Opalesque London:

Part three of a four-part series on the possible migration of UK hedge funds to Switzerland. Part One, Are UK taxes a good reason to move south? can be accessed here. Part Two, Are Swiss taxes a good reason to move? can be accessed here.

Are hedge funds establishing small representative offices or head-quarters in Switzerland? A Swiss tax lawyer told daily Le Temps this summer that instead of moving to Switzerland, the biggest fund houses simply open a small representative office. One of the problems for hedge funds thinking about moving abroad is simply about leaving London. "It is difficult to convince traders to leave such a metropolis for the banks of Lake Geneva, unless you pay them a fortune," she said.

The paper went on to wonder whether the hedge fund managers' so-called exodus to Switzerland was actually just a threat devised by opponents of additional fiscal or regulatory pressure (see July-09 Opalesque Exclusive here).

According to Dr Stephane Graber, Economic Development Officer for Geneva, ......................

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