- Wealthy Norwegians are fleeing the country after last year's wealth tax hike.
- According to Dagens Nöringsliv newspaper, 65 people immigrated to Switzerland in one year.
- The group targets the alpine region because of its status as a tax haven.
Some wealthy Norwegians are moving to Switzerland after the Nordic country decided last year to raise wealth taxes.
Norway's government raised the levy from 0.85% to 1.1% in November, encouraging about 65 of the country's wealthiest people to move there.
The group is worth more than 47 billion kroner ($4.4 billion), according to a Norwegian newspaper, and spent a year moving to Switzerland. Reported by Dagens Nehringsrif..
According to the data, individuals with a net worth of more than 1.7 million kroner ($158,000) or married couples with a net worth of more than 3.4 million kroner ($317,000) will have to pay a 1.1% tax. PwC.
In an open letter in September, billionaire Kjell Inge Lokke, the largest shareholder and chairman of industrial investment company Aaker ASA, told the board of directors that he had made the “difficult choice” to relocate from Norway to Switzerland. Told. telegraph paper.
Mr. Rokke holding a Forbes estimates With a net worth of $4.9 billion, he was reportedly the country's largest taxpayer.
Switzerland has long been considered an attractive tax haven for wealthy people looking to take advantage of low taxes.
According to PwC, wealth taxes in Switzerland vary by canton, or region, by 26 regions.
As a result, “the overall personal net worth tax rate will increase from 0.02% to 1.03%.”
Switzerland tops U.S. News & World Report's ranking of the best countries to retire in.
The ranking was created based on a global survey and responses from 6,100 people in their mid-40s and above on affordability, taxes, property rights and more.
