Mobile wealthy pick Switzerland ahead of London, says survey
Switzerland is the most popular destination for the mobile wealthy as the rich become increasingly concerned about the UK's tax regime according to a Scorpio Partnership survey published on 13 May 2009.
Scorpio said the Alpine state beat the likes of London, Singapore, New York and Hong Kong because of its "rounded offer".
Stephen Wall, a director at Scorpio, said: "To the mobile wealthy, Switzerland is still very nearly all things to all people. Right across the spectrum of criteria it scores well in this index, offering the mobile wealthy the headline fiscal incentive as well as all the underlying criteria such as stability, employment and business opportunities, infrastructure and education for their children.
“Indeed, most anecdotal evidence from the market suggests Switzerland has been and will continue to be the biggest beneficiary of any moves away from London, particularly in the mid to high-net-worth and above segments."
London took second spot in the survey. Scorpio said while London remains the dominant centre internationally for the mobile wealthy given its convenient time zone, strong professional services industry and numerous good travel links, the damage done by recent regulatory and fiscal changes have left the UK capital trailing Switzerland.
The remaining nine jurisdictions covered in the survey were placed as follows: Singapore, New York, Hong Kong, Jersey, Cayman Islands, Isle of Man, Monaco, Dubai and Guernsey.
The Mobile Wealthy Residency Index (MWRI) is the world's first index measuring the attractiveness of financial centres to the mobile wealthy. Scorpio conducted research during 2008 to April 2009 with leading international advisers to the world's wealthy mobile, which includes lawyers, accountants and bankers across 11 jurisdictions.
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