“Vu d’Ailleurs” N°117 – Happy as a Norwegian (billionaire) in Switzerland

2023-04-22 11:34:04

EXCLUSIVE LETTER SUBSCRIBERS – The European press review, by Édouard de Mareschal.

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Switzerland has been welcoming wealthy Norwegian entrepreneurs in exile for several months. Without too much surprise, the cause is above all fiscal, explain the lawyers questioned this week by The Tribune of Geneva. Seventh fortune of the country, the oil magnate Kjell Inge Røkke recently announced his departure for Lugano, a small town located on the north shore of a glacial lake in the middle of the mountains of Italian-speaking Switzerland.

In total, more than 50 Norwegian millionaires and billionaires have taken the same path in less than a year, according to a tally by Norway’s leading business daily, “Today’s business“. They weigh in total more than 35 billion Swiss francs and in 2021, they paid around 85 million francs in taxes in their country of origin, specifies The Tribune of Geneva. In Norway, this phenomenon has been called the Swiss wavethat’s to say “the swiss wave».

Several media have explained that these wealthy Norwegians fled a small tax increase of 0.1%. Fake…

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