Switzerland jostles to attract mobile millionaires

Switzerland’s wealthiest resident, Gérard Wertheimer, is a French businessman, who has set up home in Geneva. Hundreds more foreign multi-millionaires are expected to follow the example of the Chanel luxury brand co-owner by the end of this year. +Get the most important news from Switzerland in your inbox Geopolitical turmoil and regime change in some countries is turbo-boosting the exodus of millionaires from the countries of their birth to more favourable parts of the world, according to Henley & Partners. The relocation specialist firm forecasts the arrival of some 1,500 footloose millionaires in Switzerland. A surge of wealth migration will result in 128,000 millionaires switching residence, states the Henley Private Wealth Report 2024. Some will leave their home regions because of conflict or oppressive regimes; others will be driven away by sanctions, and some will simply be seeking a less onerous tax burden. + Switzerland's global wealth crown up for grabs “Anyone who has ...