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Marcel Jouault By Beverly Chandler, Opalesque London:
The participant at the Opalesque Pfaffikon Roundtable Marcel Jouault from the Roundtable hosts, Pfäffikon Financial Center, reported that the Swiss canton had enjoyed enormous growth before 2008 with the financial area overwhelmed with the success of new funds of funds and growing assets under management. The region claims to be next to $100 billion in funds of funds.
"The crisis and Lehman collapse also hit Pfaffikon" Joualt said. "After the crisis Pfäffikon and Canton Schwyz made themselves even more attractive to funds – lowering the taxes again for the sixth year in a row introducing the lowest taxes in the country. Compared to Zug and other low tax cantons, Pfäffikon is very close to Zurich, so it was an easier sell in London and other places. Even people who accidently ended up in Geneva paying 45% tax are now considering a move to Pfäffikon. Maximum income tax here is 19% total! If anybody is making money or planning on making money, the best place to be is in Pfäffikon, Canton Schwyz".
Pfaffikon started 2011 with five hedge funds and quite a few service providers around that, plus brokers and a family office. Joualt predicts that over 2012 they expect to see the arrival of one American company taking care of US clients. "That is a big issue in Switzerland, everybody is trying to get rid of US clients. This compan...................... To view our full article Click here
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