Why is Switzerland home to so many billionaires?
Switzerland is populated with billionaires - there's one for every 80,000 people.
As of 2022, the country was home to an estimated 110 billionaires with a combined wealth of $338 billion, outranking other super-rich hotspots such as Saudi Arabia, Singapore and the United Arab Emirates.
Swiss residents are also among the richest in the world, with a mean net worth of almost $700,000, ahead of U.S. and Hong Kong.
So, what makes Switzerland such an attractive place for the uber wealthy, and how does that extreme wealth affect the rest of Swiss society? Watch the video to find out.
#CNBC #wealth #billionaire
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The 5 places with the most billionaires per resident: 1) Luxembourg - 20,156 residents per billionaire 2) Hong Kong - 66,723 residents per billionaire 3) Switzerland - 79,445 residents per billionaire 4) Singapore - 104,389 residents per billionaire 5) Qatar - 217,769 residents per billionaire Source: Wealth-X, an Altrata company
of those, i'd rather live in Singapore. Nice mix of people, decent government, decent weather.
Places where politicians are irrelevant.
Interesting..was Monaco missed? It would surprise me if doesn't make the list above Qatar and Singapore.
wrong.. first is MONACO
Who is the hot presenter. She is probably out looking for a billionaire 😂
Tbh when i think of Switzerland i think of luxury watches and a safe heaven…
And chocolate. You can't forget the chocolate!!
Toblerone
Interesting, since cacao and chocolate are from Mexico.
@@alantinoalantonio Mexicans won't refuse a swiss frank for some cocoa :)
i think of all that neo-n4z1 jew-gold woooooo
I was born in the US and now am a dual citizen of the US and Switzerland. Switzerland is a well oiled machine with a highly efficient political and educational system. The fact that there are many different political parties who all gain some seats in parliament and have some influence leads to a lot less polarization between those with different opinions. This means that no one party ever has full control and almost everyone feels represented in the government and in policy. Instead of a president, Switzerland has a federal council of 7 members from different political parties and with different backgrounds. These are just a few of the things that keep Switzerland safe from the kind of polarization and instability we are seeing right now in the US and many other countries.
May I ask how you got a Swiss citizenship?
Interesting insight! I just got back from a visit to Switzerland, and I wonder if another reason for the political stability is that Switzerland is a country with a relatively small, homogenous population. Immigration seems to be lower there than in other parts of Europe, so the scope of vastly different cultural/political mindsets is reduced
@@GoldenPhoenix101We have the highest number of immigrants in Europe but most of the people that come here are highly educated and from a relatively similar cultural background.
@@creativeembargo huh, I stand corrected!
The Wealthy Of Switzerland Are The People Causing The Upheaval Of Nations With Engineered Catastrophies The Secret Societies
Note how they dont speak of the poor but only those who are not as rich. That was so interesting to me. Basically, everybody's okay. They may not earn as much but they are not poor. How eye-opening that thats actually possible in a society. I love that. So inspiring.
I grew up in poverty in Geneva (Switzerland) i was born and raised there. If you don't have the citizenship you will not get help from the state. There are plenty of poor people here. Church charities do help in the best of their abilities and its not enough. But you can definitely turn your life around if you study hard and make the right move
It is indeed interesting and eye-opening to see a society where everyone is at least financially stable, even if they may not be as wealthy as others. This indicates that there is a certain level of equality and support for all individuals in that society, which is definitely inspiring. It's important to acknowledge that this perspective is particular to the context you described and may not be applicable to all societies. Nonetheless, the idea of ensuring a certain baseline of financial stability for everyone is certainly an ideal worth striving for.
@@historiqueafricaine1225what nationality are you?
That only applies if you're not african or from Kosovo/Albania
There's many poor and homeless even in Switzerland. Notice how corporate media never speak of the poor.
the real question is are these Billionaires really Swiss or just considered Swiss on paper.
Ikea founder was definitely just an immigrant, but his kids have grown up here, and I think they speak a Swiss German dialect fluently, so in my book, they are Swiss. The Roche family is native to the Basel region.
Yes
Ikea founder, A swede shown as Swiss billionaire (guess he resided there for long) definitely confuses people who already are confused between Sweden and Switzerland!
Excatly
why is this a question, and the answer to the question is no,
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A common misbelief is that all swiss are rich. This is mostly based on the high salary of the average citizen however the cost of living is ridiculously high as well. This makes you an average person in switzerland but a rich in other countries as prices are lower. This is even more true when the swiss franc is strong compared to euro for example. This is part of the reason why lots of swiss love leaving the country during holidays hahaha !
This is so true. The real winners are cross-borders workers. Many people live in France or Germany and go to work in Switzerland and they win at life.
stop it, stop spreading misinformation. have you ever been to switzerland or other european countries? do you even have in idea how expensive food is in other european countries? in switzerland, many basic things, cost the same as in other european countries, but salaries are 3/4/5 times more. switzerland purchase power its outstanding. with that beign said, average swiss it's not rich at all, but richer than almost any other citizen of other countries
@@Coconut3A Yeah so being Dutch, and having lived in Switzerland for four years, I can tell you exactly what the differences in living expenses are. Supermarket prices in Switzerland are among the highest in the world, and at least 25% higher than in the Netherlands. Meat products are 200% the price of those in the Netherlands. However, having said that, because of the ridiculous housing market in the Netherlands, rent or mortgage payments are about the same. In essence, I was able to save more than half of my net salary in Switzerland. I am able to save about 15% of my net salary in the Netherlands. So it takes much less time to save up for a better life, despite the food prices.
@jochem1986 true I'm a brit and I can say Swiss is too expensive
@@Coconut3A bro im swiss i live in switzerland and i got family in france and italy that i go visit every year, i guess i know what im talking about...
Not anymore. Wages are still the same but everything around has increased. Being poor in Switzerland is a real thing, but media prefer to put the emphasis on billionaires.
@@Wisteria__Lane Sauf que je suis zurichois et à part quelques visites à Genève, Lausanne, Neuchâtel et Fribourg, et quelques clients romands de mon entreprise, je ne connais pas les romands. Si on compare les suisses au reste du monde, oui on est bien en Suisse. Mais si on compare par rapport aux années 90, c'est moins bien. Dans les années 90 une femme payait 100 CHF pour sa caisse maladie sans franchise. Un travailleur du bâtiment gagnait à peu près la même chose qu'aujourd'hui et les loyers étaient plus bas (4.5 pièces pour 1600 CHF, alors que le même vaut 3500 CHF aujourd'hui). Après le suisse est très résiliant et préfère toujours chercher l'erreur chez lui-même avant de critiquer les autres. Donc on va faire beaucoup de formations pour gagner plus, mais là aussi ce n'est plus une garantie. C'est peut-être pour ça que le nombre de personnes cumulant au moins 2 emplois explose en ce moment (source Tagesanzeiger ou NZZ, je ne sais plus).
@@Wisteria__Lane Tout à fait. Donc pressions sur les bas salaires et les gains sont mal distribués, puisqu'il parait que si l'entreprise est en croissance c'est plus grâce aux managers qu'aux ouvriers... Ja, ja genau...
The flag is a big plus
Hehe
why
Lol, 😂
WRONG! @ger_d => It is a CROSS!! ==>> Get now WHO helped the most conservative country is whole of Europe in the 21st century become so wealthy ?!!!
🤣😂
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Switzerland's financial and precision industry is really advanced, and the scenery is beautiful too. It's quite a developed country. I bet most people would really want to visit there.
So as its money laundering and tax haven system! + Spy land.
That’s what keeping drug lords and dictators money at your bank safely does I guess
@@alikaro9281 - not anymore... the usa and the eu insisted, quite rightly, to changes...
Not really. If people wanted to visit there they would have because nothing would stop them from going there. If people aremt going there, then they dont want to. People have even found ways of getting to north korea which should tell you that people dont want to be in swiss. Maybe to park their money but to live, hell no. The US is where people want to live. Now, its amazing that they have 110 billionaires, and can boast 1 billionaire for every 80,000 people but, lets put things into perspective, Elon Musk alone wealth eclipsed the entire accumulated wealth of the 110 billionaire in the country.. So, at that point, who cares! by the way, the US has more than 110 billionaires in california alone
wum "quite developed" it‘s number 1 on the HDI index…
Switzerland's reputation as a haven for billionaires is fascinating! It's a combination of factors like political stability, strong privacy laws, and a favorable tax system that makes it such an attractive destination for the ultra-wealthy. Plus, Switzerland's picturesque landscapes and high quality of life certainly add to its appeal. It's interesting how a country's policies and environment can have such a significant impact on where people choose to reside.
Absolutely! Switzerland has long been known for its political neutrality, which has helped foster a stable and secure environment. This, coupled with a robust legal system and strong privacy laws, has made it a popular choice for billionaires looking to protect their assets and maintain a low profile. Additionally, Switzerland's tax system is often considered favorable for the ultra-wealthy, with various tax benefits and incentives available. Moreover, Switzerland offers a high quality of life, with excellent healthcare, education, and infrastructure. Its beautiful landscapes, including the Swiss Alps and pristine lakes, provide a serene and natural environment for residents. The country's well-maintained cities and high level of cleanliness further contribute to its appeal. Switzerland's combination of political, economic, and natural advantages has undoubtedly fueled its reputation as a haven for billionaires. However, it's important to note that the country's policies and environment also attract individuals from various backgrounds, as Switzerland is widely regarded as a safe, stable, and prosperous nation.
They are also neutral in world affairs.
If you are a successful businessman and you do business by meeting with others and carrying out negotiations that take more than a day - would you go to Ghana or Congo and invite your business partners to meet you there? The last you want in such a situation is "problems" that create a less than comfortable situation and distract from your target - creating a mutually satisfactory situation.
Neutrality is logically out of the window since the Ukraine war.@@PoisonelleMisty4311
Yet they host the WEF in Davos..@@grantog123
Success is not built on success. It's built on failure, It's built on fraustration. it's built on fear that you have to overcome. I pray that anyone who reads this will be successful in life
You're right❤❤❤❤
I lived in Switzerland for four years of my life. Those years were actually the finest in my whole life. Switzerland is a fine country; and its people are fine, too. In my opinion, Switzerland is the best country in the world in which to live. Unless one has lived there, it is difficult to describe its advantages.
I agree with most except one caveat, it depends on the region. Zurich and immediate area people can be very cold, unfriendly and dry. Even with each other. Geneva and Lugano no so much and much more receptive and warm. This is another reason so many Swiss have foreign partners / spouses
@@seymourelykeley I know why you say that they can be cold. But I actually didn't find them cold. When I was there, I learnt German (High German) and also learnt quite a lot of Swiss German. Whenever possible, I spoke to Swiss people in German. They always seemed to appreciate it. They could see that I was making a big effort to learn the language. One of the best friends I have ever made in life lived in Zürich. (Though she was originally from the Italian part of Switzerland, Tessin (Ticino). I have always found in life that if you make a true Swiss friend, you have made a friend for life. The Swiss are extremely dependable and loyal. But it takes time to befriend them. By contrast, I found that Americans are very easy to 'befriend', but so often, the friendships are not lasting. In this regard, I found the Swiss to be the exact opposite of Americans. I loved being and living in Switzerland. As I said in my original post, those years were the finest in my whole life.
The insight into Switzerland's wealth dynamics and its impact on society is eye-opening. It's crucial to consider not just the ultra-rich, but also the less wealthy to maintain social cohesion. The Swiss model of balancing wealth with social policies sets a commendable example for other nations. Great analysis!
I studied in Europe in the late 80's, and due to some miscommunications with friends, a few of us ended up sleeping on the floor of this luxury underground mall in Zurich. Needless to say, we were not alone. There were several homeless people sharing the space with us. Switzerland is an awesome beautiful country. But not everyone is as well off as the video would have you believe.
My friend, you're talking about experiences from almost half century ago.
You work for 40yrs to have $1m in your retirement, Meanwhile some people are putting just $10k in a meme coin for just few months and now they are multi millionaires. I pray that anyone who reads this will be successful in life
Please I want to learn too. I need to make money and be financially independent.
If u give too much protection to rich's money, every rich in the world move towards ur country.
Of course world murderers and criminals would want the country where they store their money to be the most neutral safest country to be
There's no such thing as too much protection for money.
@@bwofficial1776 There's too much protection for the rich.
@@bwofficial1776 you mean wealth. Money and wealth are not the same thing. These people have wealth, and seek to build wealth.
If you are also seen as a safe heaven for looted money by the third world dictators , you going to attract a lot of ill gotten money.
Of course the main reason is taxation. But then there's contributing factors like safety and stability, working institutions aka low corruption (a major factor), an understated culture meaning they can move about in public unmolested, and it's right in the center of Europe which makes it convenient to travel from and to. The natural beauty definitely helps.
Taxation is a factor, but should not forget that Swizerland has universal health care, free education, the second lowest poverty rate in the world, etc. Also the wealth gap has long been stable (as mentioned in the video). So the rationale for increasing taxation (as opposed to, e.g., focus on affordable housing) is unclear.
@@FranFerioli Switzerland does not have universal Healthcare. I would know, I live there. Free education also doesn't matter for people in the multiple millions and up, but education is obviously a major factor in maintaining a developed civil society.
Yes indeed. You pay a lot of tax, but you see the benefits in healthcare, efficient transport system, education, very low crime etc etc. Unlike other countries where you pay a lot of taxes , anf services/ systems are in a mess.
@markokraljevic7573 so you lived here 35 years and you don't know what universal Healthcare is? Interesting... 😂
@@mysterioanonymous3206 It's universal, but not free and also based on private health insurance. Everyone has to have it by law, so in that sense, it's universal.
"like the poor, no, we are not poor, but the less rich"
The moment I heard that, I disliked her. Out of touch with society.
She’s not out of touch with Swiss society tho. That’s the main reality. Have you been there? Because I have and she’s not lying.
@@KungFuWizardOfJesushate someone for not suffering like you? 🤡
@@VBoo459there are very well poor people it’s just that they don’t openly admit it since in swiss society it’s considered a shame to be poor, in a sens of “it’s your fault if you can’t afford life”…. I am Swiss so believe me when I tell you that most people are not ultra rich, they might have 20’000-30000 savings but that’s by no mean rich.
@@KungFuWizardOfJesuscause of what ? Cause it’s true ?
"Luxury chocolate" shows averaged priced supermarket chocolate ^^
if its european chocolate thats better than 90% of Americas
Not to mention what was most probably average emmental cheese!
Right where's the Cailler!?
I live in Switzerland, and can attest to what and why. They mentioned it briefly - stability. This is the most important thing and nothing else comes even close, even low taxes. Stable law is something incredible in Switzerland - when you pay your taxes, you can safely assume you will pay exactly the same taxes (rules, system, also % wise too) for the next 10-15 years or longer. You know that no crazy politician will come and ruin your company with new taxes just like that or some regulation imposing new costs out of nowhere. The changes in law are debated for YEARS, sometimes decades! This is why business is so happy here, people are happy to pay (low) taxes - everything works and if any change comes, everyone knows years ahead. Amazing country, for real.
Stability? White.
@@malachi- lmao😂
You must live in Zug or something, Basel is the complete contrary of "stability".
Stable to a point: Credit Suisse 🐒
The most significant reason why Switzerland is so great, is that it is nation by the people, for the people and of the people. The people are the government, they decide what happens in the nation, their city or village or their canton. A new school? Yes, we want to afford it. New busstations, no this price is way to high i like the bus stations. Do we need less or more taxes in our village? The people are involved deeply into many decisions and the politicians are only there to execute those. I will never ever leave.
We spent a week in Erstfeld, what a great experience, people were friendly and polite. I could do some shopping at Coop, Migros and Denner, the prices were high but you can find some deals too. Our Airbnb apartment was by the river, we could sleep listening to the sound of the water and wake up with beautiful mountain views... Unforgettable. I enjoyed Lucern, Interlaken and other places we visited but the small village experience is my favorite. Have coffee at the balcony looking at the sunrise between the mountains ❤ I hope to visit Switzerland again someday.
Switzerland is successful because it is a democracy, Independent and Not Part of EU. Because it stayed neutral in the big European wars. But politicians work on demolish democracy, to put Switzerland under EU Control.
One of the key reasons why Switzerland is considered great is because of its strong tradition of direct democracy. Unlike many other countries where decisions are made solely by politicians, the Swiss people have a significant say in the governance of their nation. In Switzerland, important decisions on various matters are often put to a popular vote through referendums or initiatives. This means that the people have the power to directly influence laws, policies, and even constitutional changes. Whether it is building new infrastructure, implementing new taxes, or deciding on social policies, the Swiss people are actively involved in these choices. This system ensures that the government remains accountable to the people and that their voices are heard. It fosters a sense of ownership and empowerment among the citizens, as they feel more engaged and connected to the political process. It also helps in creating a more inclusive society, where diverse perspectives and opinions are taken into account. Moreover, this direct democracy allows for a higher degree of transparency and trust in the government. The Swiss people have a direct say in how their taxes are spent, which projects should be prioritized, and how public services should be managed. This participatory approach promotes a sense of fairness and justice, as decisions are collectively made, rather than being imposed by an elite ruling group. Overall, the active involvement of the people in the decision-making process is a significant reason why Switzerland is admired globally. It fosters a dynamic and responsive political system, which ultimately leads to the well-being and satisfaction of the Swiss citizens.
Most Norwegian billionaires just moved there too.
I was in Switzerland. It's soo expensive. Wealth is relative.
I'm a Jillionaire from Mars. Elon tried to catch me.
I'm a gazillionaire from mars aswell
i am a zillionare from pluto
I am poor - give me some money 😂: without weeping for doing hard work
😂😂😂
Did you consider moving to Switzerland?
Very informative and interesting! Thanks!
I'm Swiss and I feel very lucky to live here. Having worked in different Swiss and German companies, I would say an important difference to our neighbor countries is that our political system is very de-centralized. Most decisions and policies are taken at the communal level, where political participation for any citizen is extremely easy and welcomed. This, rather than the famous direct referendums are the key to our political system imo. Concurrently the federal level is rather "weak", by design, and there is less top-down influence on industry and innovation ("industriepolitik"), as opposed to eg. in Germany.
That is quite exciting indeed.
Porque suiza fue creada por los templarios no por alemanes ni por suecos ni por escandinavos en general
Switzerland is an independent country and the safest place to put our money, same as Singapore. I've learned so many things about quality of life from my Swiss friends who works at SGS Swiss Geneve.
aka money laundering?
Heaven of laundered m
Former African despots put their money in the Swiss Banks..
Sure Credit Suisse was very safe....They are like all bankers in the world, just a bunch of corrupt criminals...
SGS ? Société Générale de Surveillance corporation ?
One of the reasons is clearly the taxation that isn't as brutal as other countries but another 2 factors that contribute is that the political system works which helps for many billionaires and also the safety of the country for example the brazillian billionaire Jorge Paulo Lehman got out of Brazil to Switzerland because of the safety since he had suffered a kidnapping attempt
Lehman is also a swiss name. so maybe he had ancestory here?
Yes, for some reason I didn't associate that😆
I was in Switzerland in year 2004. Then its franc was 42Rs equals to one swiss franc . Now its one swiss franc equals 98 RS
when I went many years ago, I was 18 years old but I talked with my aunt and she didn't help me with this because of the language and she told me this country is very expensive and doesn't give the opportunity to people doesn't speak English or Germany and I returned to Lisbon, now I'm in London and I'm happy here but Switzerland the part of Zurich is fabulous everything clean, plants outside of the home ❤ definitely a beautiful city I remember Baden too a small village 👌
When I visited Switzerland many years ago, I was 18 years old. I talked to my aunt about it, but she couldn't help me much because of the language barrier. She told me that Switzerland is a very expensive country and doesn't offer many opportunities for people who don't speak English or German. As a result, I decided to return to Lisbon. However, now I am living in London and I am happy here. Despite that, I still remember Zurich in Switzerland as a fabulous city with everything clean and beautiful plants outside people's homes. It is definitely a beautiful city. I also have fond memories of the small village of Baden. Overall, Switzerland left a positive impression on me.
Why have you rewritten his comment? xD Is this a Swiss thing? To correct every detail @@PoisonelleMisty4311
Nao tens saudades de Portugal?
@@AjitMD tenho sim é por isso que vou todos anos á minha terra ;) ❤ Vila Franca de Xira
Lump tax sum. That’s why. They can literally pay less taxes than working families in here…
The lump sum tax minimum is set at a minimum of 150,000 CHF… I think a working family would need about 600,000 CHF to attract that level of tax?
@@genegene8686 And yet a billionaire pays less than a working person reported to assets and income
Smart move. Any issues should be taken up with the legislators who wrote the tax code, not the people playing the game given to them.
From the Swiss perspective... Yes they may pay less proportionally, buy they do pay. A lot. They simply wouldn't be here without lump sum tax, so that family you talk about would have to pick up the shortfall and pay more.
CNBC conveniently missed the lump sum tax. No tax reporting for those on that scheme. That's the key.
I might watch this channel to build my vocab
Why not?
I’m taking a lot content from this and thank you both for an excellent discussion.
What a great guides, especially for everybody new in that trading world
Me watching this broke af, in some 3rd world country in southern Africa
😂I'm Zimbabwean but in the uk
Western for me, lol. 😂
😂😂😂. but we are rich in heart here in Africa
@@francisndungu5532 can you pay rent with your rich heart?
Cheese, Chocolate and snow-capped mountains - Are you kidding? One in eight people living in Zürich is an expat who speaks English and jacks up the cost of rent, forcing locals to move out.
In 1822, one of the world leaders, Ioannis Kapodistrias came to Switzerland. He was the initiator of Switzerland creating a neutral state with a powerful banking system. He also contributed to the creation of the Constitution and divided the country into 19 regions (cantons). The Swiss are grateful and consider him a national hero of their country, in fact there is a statue of Kapodistrias in Lausanne, as "the first Honorary Citizen of the city". He remained in Geneva until 1827, and while there he started helping the cause of the Greek Revolution against the Ottomans.
Even the news reporter looks rich just standing in Switzerland.
Heaven Country on Earth 🌍 Nature Friendly, Neutral, Peaceful and Happiness on World 👑 🇨🇭 Switzerland 👑
I had a pleasure visiting this lovely country not long ago. I was surprised by how beautiful the banknotes were when I got my change after paying in Euros. Beyond exchange rates, the most artistic currency ( in my opinion ).
I felt the same first time I saw them in 2014!
@@ayak6317 Then you must have seen the banknotes from the eighth series. The obverse sides illustrated people’s faces, correct? The current series, the ninth, was issued after 2015.
@@FascinatingMrcurrent bank notes look way more beautiful than the old ones
@@snoopy1970 I agree.
Thanks 🙏
There must be some reason with common folk in there..., Like family tradition about manage wealth, also support from the stable government, local businesses community or factor such like stable local market per locations or anything.
The Swiss Franc was indeed powerful from 1887-1965, especially in Southeast Asia.
are you confusing it with the french franc? Or is there some interesting period of swiss history i don't know about?
@@Soff1859 You have to know how franc notes from 1887-1965 spread to southeast Asia??!!
@@Soff1859 Including Indonesia!!!??
because they are the only ones who can afford to live there
🤣
True.
Thanks 👍
Hi! I’m excited to be here in your channel and I’m interested in learning more about investing and saving up for my retirement but am a little confused about the whole process. Any advice or tips to get me started up would be greatly appreciated.
Hello from Philippines
👍👍👍excellent content !
I have a Swiss made hearing aid and it was extremely high priced and doesn’t even work very well! I get it! 😊❤
Shows how important education and innovation is
I agree, very vital
😂 no it's just money laundering
@@Wisteria__Lane since what? What innovation?
@@Wisteria__Lane Exactly, I read something similar. Most patents per capita or something like that. I mean, a landlocked country with tough terrain, no natural resources. A true gem in this world.
@@Wisteria__Lane Based on number of patents, Switzerland is innovative. However, most of these patents are declared by foreign individuals or companies - not Swiss. I could agree with the following statement: Switzerland is the most innovative HUB on earth for many years.
Let's go Roger Let's Go!!!
I know there was reasons my great grandma should have stayed in Switzerland 🇨🇭
Shortly before this opening they were talking about how she would show the cheese and chocolate
Capital from Asia will only flow to Singapore. Swiss gave up for IRS. Put Capitals in Hong Kong if you wanna avoid IRS, put capital in USA/SG if you wanna avoid CCP.
jesus no, stay away from the US.
??@@AsidsTechTips
Money laundering and flooding money in Swiss bank accounts without fear of heavy taxation is a dream come true for the filthy rich… 😂
@@Wisteria__Lane Yes, you can. In a safe. 🤡
I guess you can answer 1st out of Euro Zone Wealth from Europe mainly go there through lot of lobbying from banks there to Rich of Europe But Switzerland played major role to. Keep stability of Euro currency in Euro Zone and prevent Inflation and deflation by pumping money or reinjecting money through Investors and rich people May be some countries can hold bank account therr
At 3:04 I see in the background the Bank of America logo. Say what? In Zurich, no less.
Fun fact: Swiss never really shifted away from helping rich individuals not paying their raxis, nor will they in the future
Fun fact: You have no idea and need to google CRS and FATCA
whats the source that there are 11o billionaires in switzerland , the forbes or the bloomberg index says it is nearly 40 ish , hong kong or singapore has higher. than that (per capita)i know there may be some shady discrepency here but it applies all across the board , so it woul dbe better to provide a source for the data.
The numbers you mentioned might be subject to change over time and different sources may provide varying information. To obtain the most accurate and up-to-date data on the number of billionaires in Switzerland or any other country, I would recommend referring to reputable business publications, government reports, or official statistical sources.
Thank you so much for this insightful video!
You swiss?
Amazing
Where I can educate myself more about the financial, economical and wealth topics in Switzerland? Thank you
Everything
Usually you sit down with an accountant or a tax lawyer there
You be needing an local adviser from there and probably 3-4 year's cause that's a lot to process.
Wowowo wait a lil, I’m not planning to move to Switerland soon but I just want to know abour their economic history and financial system itself.
How do I get a Switzerland visa
Dont
2:34 correction: we don't get taxed on profitable sales of a NON-REAL ESTATE assets. real-estate sales tax is around 30% (varies by canton)
Capital income and capital gains ~ ownership and at no cost?! Sounds delish
Zimbabwe 👀
✋ present 😂
Amazing country ❤🎉
Toblerone- reminds me always of switzerland ❤
One of the best country in the World!!!!!! I hope that Spain will learn from them
Learn what exactly?
What has spain to do with this?😭
@@269hklgvnpor ejemplo: ser puntuales 😅
Learn how to launder money and harbor drug lords?
Spain is a 2nd tier European country
Coming from the Netherlands, I envy Zwitserland that clearly chose their own path and keep their own identity. The decision not to join the euro has done them really well. My country has given its soul away to the EU, NAVO and the USA etc.😢
Holland has given its soul to the US because Holland has a lot of economic ties with US. You are a distant province of us.
The way she is presenting the news just funny as hell. Is that a money channel? 😂😂😂
Precious Switzerland, in my dreams😢
asking people from davos how life is in switzerland gives you very distorted answers. in reality for most life sucks here too. we have an insane work ethic, high cost of living and a very introverted culture. depending on where you live you'll mostly get to see little daylight as it's blocked by the mountains making it a rather sad environment. can't recommend to live here unless you're a workaholic
Yes, compared to other European states, Swiss work rather long hours. But compared to the US or East Asia, it's still humane.
@@creativeembargohumane? Lol. I live in the US. There's not much inhumane things that go on here. People will complain over anything smh.
I'm sorry to hear that you feel this way about life in Switzerland. It's important to remember that people's experiences can vary greatly, and it's possible that individuals in Davos or other parts of Switzerland may have a different perspective. However, everyone's experience and perception is valid. It's true that Switzerland is known for its strong work ethic and high cost of living. The country has one of the highest productivity rates in the world and places great value on efficiency and quality. This could be considered an advantage for some, while others might find it demanding. Regarding the introverted culture, it's important to note that cultural norms and social dynamics can differ from person to person. While some individuals may perceive Swiss culture as introverted, others may find it warm and welcoming. Regarding the limited daylight, it's true that in some parts of Switzerland, the mountainous landscape may partially block the sun during certain times of the year. This varies depending on the location and the season. Ultimately, the decision to live in a particular country depends on various factors including personal preferences, lifestyle, and career goals. It's important to thoroughly research and consider all aspects before making any life-changing decisions.
40-hour week, and not much overtime. What overtime people do has to be compensated - it's the law. Most people work 8-12 then 14-18, with a two-hour break for lunch. That's become more flexible over the past 20-30 years, but it's hardly an insane work ethic. However, you are expected to do your work while at work. And most people live and work in the transversal plain that crosses the country between the Jura and the Alps. If you work in one of the valleys, that's tough and I couldn't do it, but most of the population doesn't.
@@martinswitzer6534 Overall, the attitudes towards work in our society are generally balanced. People work hard during their designated hours, but there isn't an overwhelming pressure to constantly work overtime. It is understood that work-life balance is important and that employees should be compensated for any additional hours they put in. The geographical layout of the country also plays a role in shaping work habits, with most people living and working in the central region. Overall, it seems that there is a sense of responsibility and dedication to work, but also an understanding of the importance of rest and personal time.
it's called a tax haven for the rich or money laundering.
I'm a fan of Switzerland because of it's railways and Alps mountains because Friedrich Nietzsche discovered his best philosophy while walking on the alps. I wanna do that too but maybe i can do that on equally beautiful place: kashmir!!
As a world traveler to 131 countries and counting and thoroughly familiar with all regions of Switzerland, given the choice I’d live in Vienna, Austria. Their eastern neighbor. A much more pleasant place for a long list of reasons.
All F1 drivers living in Switzerland or Monaco, love there morality
The Swiss have higher average incomes than many countries, but the cost of living is off the hook. Switzerland has one of the lowest per-capita rates of home ownership in the developed world due to its very high cost of living. People who would be considered quite well off based on their income, if they lived in the US, generally can't afford to buy their own home. Even the rich typically rent.
It also has ridiculously low taxes! A German friend moved there, his income doubled and so did his savings! So things are expensive but not everything becomes proportionally expensive. Your iPhone or MacBook isn't going to start costing double what it costs in Germany.
Switzerland's high cost of living is largely driven by factors such as expensive housing, healthcare, and consumer goods. The demand for housing significantly surpasses the supply, resulting in skyrocketing prices for both rental and owned properties. Additionally, strict zoning laws and the preservation of natural landscapes limit construction, further exacerbating the housing shortage. While the Swiss generally have higher average incomes compared to many countries, these incomes are not always sufficient to support homeownership. The combination of high housing prices, high down payment requirements, and stricter lending standards makes it challenging for people to afford their own homes. Consequently, even individuals with substantial incomes often opt to rent rather than buy. The situation is particularly striking when compared to countries like the United States, where higher incomes are more likely to correspond with comfortable homeownership. In Switzerland, however, income alone does not guarantee the ability to purchase property due to the high costs involved. Therefore, it is not uncommon for even wealthy individuals in Switzerland to choose renting as a more feasible option. Renting provides flexibility and allows people to allocate their financial resources towards other expenses, investments, or saving for the future. Overall, while Switzerland's higher average incomes may paint a prosperous picture, the immense cost of living, especially in terms of housing, prevents many individuals from achieving homeownership.
Did you make this with ChatGPT or something?@@PoisonelleMisty4311
Lived in Switzerland for 5 months. No thank you, couldn't wait to return to my home country Estonia. It's cramped and crowded in the cities, Northen Europe has less people and more space which I love
1:45 Also the owners of MSC(Shipping and cruises) They are itallian but are now Swiss citizens as well
All UK people love Switzerland 🙏🏻🇨🇭🇬🇧
Piece of evidence, why Swiss is criminal harbor then.
what Swiss banks did with Russian Oligarchs?
@@micah_rosenberg You're just jealous of Swiss efficiency 🙏🏻🇨🇭
did u do a referendum with UK people?
@@basicsurfer08 yes I did
I heard it's where billionaires can safely put their money in the banks, which is similar to Panama
😂😂😂😂😂 ok you have no clue.
Did you just compared Panama with Siwtzerland?
@@chrisgtx2630 ok you have no clue about money laundering 😂😂😂😂
Well, you see, there's this town called Davos....
Switzerland, a landlocked country such an irony. Nepal Mongolia etc are a different case, how
This video is not entirely accurate. For example the myth of "There is no capital gains tax" This is a blatant lie. The tax office has the power to disregard the rule and they often do. They apply a test on "capital gains income" plenty of info on the web if you are interested. Switzerland is not a low tax country for the average citizen. They apply special rules for "wealthy foreigners"
While it is true that Switzerland generally has a lower tax rate compared to many other countries, it's important to note that there may be exceptions and specific regulations for different types of income or individuals. The taxation policies in any country can be complex and subject to change. Regarding "wealthy foreigners," Switzerland does offer certain tax advantages to attract wealthy individuals to become resident taxpayers. These advantages are typically related to their foreign-source income and wealth, and may not be applicable to the average citizen or resident. It's important to consult official sources or seek professional advice for accurate and up-to-date information on taxation in Switzerland.
Before my comments. I must admit this is an excellent report and I have a crush on the reporter❤️. The neutrality of Switzerland is being diluted and came into questioned by it joining of western led sanctions and confiscation of Russian Asset.
I just pray my Switzerland 🇨🇭 dream will come true
The swiss dream is no longer real.
While I'm still waiting for my Rolex to be available lol.
Simple! Switzerland has the most economic freedom in Europe.
That's not true
not true "coming from a resident of the country"
@@AsidsTechTips Yes it is, I moved my business there for that very reason. You can look at economic freedom index studies and it backs it up. So you are wrong
@@WaterWheel360 Yes it is, I moved my business there for that very reason. You can look at economic freedom index studies and it backs it up.
that and banking for the drug cartels.. dont leave that out of the soup.
I lived in Switzerland for about a year. If you're Swiss it's great, if you're not then expect to be treated like a second class citizen, unless you're rich of course
same here, very true!
'if your not then expect to be treated like a second class citizen' Just like every other country out there?
you haven't travelled a lot if you're saying that. @@unrealgalaxy9669
Bold statement, not true in general.
I would certainly hope so @@snoopy1970
Hong Kong has even more
Anyone got an update on the recent Toblerone ban incident . It was due to plastic getting mixed with some Toblerone batch produced in 2023. Has this impacted the chocolate 🍫 industry?
I wouldn't trade my Mexico and US 🇲🇽🇺🇲
I genuinely wonder one thing, how come the rest of the western world does not boycott Switzerland for this? Of course this is positive for the billionaires and swiss, however for the rest of the countries losing those fortunes means quite a substantial tax loss. How come no country or state has said or done anything about this? (I realize if it wasn’t switzerland they would just go somewhere else like this)
When i think of switzerland.. i think of swiss bank😮
In the words of robin Williams “O my, where did all this stolen art come from, and all this gold which magically appeared in our vaults between 1935 to 45 with no one to claim it… Do t worry about that, have a pice of chocolate and bread covered in cheese while we listen To the yodeling and wear lederhosen ya”
no war ,les tax , real democracy , save haven for the mad woerld , no crazy refugge politic , les criminalaty ,hidden champions ,
FACT: No billionaires are reading this, they’re too busy making money.
Most billionaires have director and managers to do that for them