His züglete created a stir in Norway. And true! Businessman and entrepreneur Kjell Inge Røkke (63) moved from Oslo to Lugano TI in the spring. Billionaire collective reprimand: “He just did it to save taxes.” Røkke vehemently disagrees. In a letter to the shareholders and 18,000 employees of the investment firm Aker, he praised Lugano in the sunny corner of Switzerland.
“During the pandemic, I learned to work from anywhere,” he said, explaining his move. “Switzerland is centrally located in Europe. Lugano is not exactly known as the cheapest city with the lowest taxes.» The headquarters of the corporate empire will of course remain in Norway. Moving to Switzerland was a difficult decision.
But the damage was done. The image of the tax evader has remained in his mind to this day. But many Norwegians also understand that Norway already has high property taxes and has recently increased the tax on business assets.
“Unrivaled as a center”
Now “Handelzeitung” reports: Røkke is not the only Norwegian who has been drawn to Switzerland in recent months. More than a dozen people have done the same. For example, Francis Stuckrath Hay has resided in Hergiswil NW since September. The real estate investor is worth $233 million. Place of residence and tax consequences can reach several million per year. Moving to Lake Lucerne is also correspondingly easy.
Few openly admit this. For example, Hans Jacob and Randi Sundby deny tax reasons for moving to Meggen LU. “We want to expand and pursue our business abroad,” say the founders of Norway’s largest chain of kindergartens. Switzerland is unrivaled as a “centre” for other countries. However, they do not want to open a branch in Switzerland.
«Switzerland is a beautiful country»
One of Norway’s most famous athletes also withdrew to Switzerland. Bjørn Dæhlie (55), an eight-time Olympic champion in cross-country skiing, has been living in Zug since the beginning of the year. This is tax efficient too! At home, criticism was inevitable. But it left today’s entrepreneur cold. “I really have only one comment: I moved and everything is going well,” he said of the polemic. And: “Switzerland is a beautiful country. It reminds me a lot of Norway. I’m doing fine.” I bet other rich Norwegians will follow him soon? (pbe)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
