How to secure your personal wealth and assets in a chaotic world ? How to face the new wave of international financial crises?
Switzerland has the solution. By Eric Maire – Senior Project Director - GGBa Moscow September 28th ,2011
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Objectives • • • •
Understand World’s economy problem situation Overview of Switzerland Understand Swiss advantages Show different scenarios for investing in Switzerland
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Fact 1 - Governments debts
Source : www.usdebtclock.org
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In Europe the « PIIGGS »
Source : Wikipedia 4
Fact 2 – End of Off shore havens
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Fact 3 – Stock market unpredictable Graph : Dow Jones Industrial Average 2000 – Present
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Fact 4 – No real law enforcement
of the
BRIC - Brazil, Russia, India, China CIVETS - Colombia, Indonesia, Vietnam, Egypt, Turkey, South Africa BRIC are no longer viewed as emerging markets CIVETS are the new emerging markets.
All offers high growths rate and real potential markets
No real law enforcement and asset protection IP - Contract – exportation – local dispute – Real-estate
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Switzerland: at the heart of Europe
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Switzerland: Facts & Figures
Population Employment Number of Companies Unemployment rate Exports Imports
7.7 million. 3.9 million 450’000 2.8 % CHF 215 billion CHF 197 billion
Sources: Federal Office of Statistics (FOS) and the State Secretariat for Economic Affairs (SECO); 2010.
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“On Shore” stable tax system • • • • • • • • • • • • • • • • •
More than 700 year of democracy No corruption No unions Stable political system Ideally centered in Europe Highly qualified workforce (technology, management, international) Very low inflation of 0,192% in August 2011 (EU 2.5%; RU More than 100 double tax treaties with more than 30 in OCDE 77 international treaties (IP – Trade of goods, Law, etc) Not member of EU Community but strong bilateral agreements Less than 30% debts of GDP High Multilanguage environment (More than 10’000 Russians) Leading education system Strong protection of the personal data information (Bank secrecy; IT information) Very high research institutions and efficient technology transfer High quantity of expatriates from many countries (37% percent expat in GGBa) Long fruitful collaboration between Russia and Switzerland 10
Very low unemployment rate of only 2.8%
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The Greater Geneva Berne area
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The Greater Geneva Berne area (GGBa): • Is an economic development agency active in eight countries. • Represents 6 States (or Cantons) of Western Switzerland: Berne, Fribourg, Vaud, Neuchâtel, Geneva and Valais.
• Supports at no charge foreign-based companies looking to establish business operations in our area.
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Switzerland Is The World’s Most Competitive Location For Doing Business
Sources: World Economic Forum (WEF), 2009
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The highest living quality of life in the world
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University education meets the needs of a competitive economy
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Leading academic institutions • Five reputable cantonal universities (in Berne, Fribourg, Lausanne, Neuchâtel and Geneva) • EPFL - Swiss Federal Institute of Technology in Lausanne; • IMD - Institute for Management Development - Lausanne; • EHL - Hotel Management school of Lausanne • CSEM – Center of micromechanical - Neuchatel • Two major networks of universities of applied sciences in Western Switzerland (HES-SO) and Berne (HES-BE); • An education system fulfilling the requirements of expatriate families (public and private schools).
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Basic Research: A top priority to enhance long-term economic development
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Concentrated expertise in science and technology, R&D and manufacturing • R&D: 2.9% of GDP (private sector: 70%; public sector: 30%); • Unique R&D partnerships between the private sector and academic & research institutes; • Concentration of skills in science parks, incubators, networking platforms and technology parks.
Sources: Federal Office of Statistics (FOS), 2008
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Quality of Scientific Research Institutions: World #1
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The Best Management Education In The World
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World’s best technology transfer
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Scientific research strongly supported by legislation
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Swiss Skilled Labor Among The Best
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Seniors Managers with significant international Experience
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3rd Most Resilient Economy In The World
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Labor regulations do not hinder business
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Highly productive companies
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What are your objectives ? What are your personal and family objectives 1) Come for vacations in Switzerland ? 2) Live in Switzerland ? 3) Work in Switzerland ? And expand your existing business out of Russia 4) Place your family in Swiss schools ? 31
What are your objectives 1) Come for vacations in Switzerland ? Swiss visa are required with an invitation letter for Russian citizen and can only get a maximum 3 month of stay in Switzerland. You can buy real-estate for tourist purposes in special zones, mainly in the mountains 32
What are your objectives 2) Live in Switzerland ? As a Russian citizen you need a permit to live 100% of your time in Switzerland. Special tax treatment called “Forfait” allow you to stay but not not Work Conditions – Not be Swiss; never have worked in Switzerland; be more than 40 years old; must have a certain personal wealth
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What are your objectives 3) Work in Switzerland ? Working in Switzerland requires to setup a Swiss company to manage your business and obtain a working permit (B permit). Your Swiss company will employ you and allow your family to stay with you
Timing 1 to 5 years = B permit 5 to 10 years = C permit (nearly Swiss) More than 10 years : Swiss citizenship 34
What are your objectives 4) Place your family in Swiss schools ? If you live in Switzerland your children can join any public and private schools If you do not live in Switzerland your children can go to private and public schools but must get a student permit 35
3 ways to invests in Switzerland 1) Buy real-estate in special zones for only vacations days (max 3 months) 2) Create a Swiss company and live in Switzerland with family full time 3) Buy investment real-estate (not necessary to live in Switzerland) 36
Proven Success Several Russian companies already setup in Switzerland for Head Quarter, R&D and Industrial activities We have all suppliers with Russian speaking skills like Lawyers, Tax experts, Accountants, recruiting firms, etc We have access to the government and can support any requirement
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THANK YOU FOR YOUR ATTENTION !
Greater Geneva Berne area Economic Development Agency World Trade Center Avenue de Gratta-Paille 2 PO Box 252 1000 Lausanne 22 TĂŠl. +41 21 644 00 90 Fax +41 21 644 00 99 info@ggba-switzerland.ch www.ggba-switzerland.ch
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