The International Family Offices Journal
Vol. 5 - Iss. 4 pp. 19–23
One jurisdiction that we follow closely is Switzerland, so often a leader in the family office industry. In this issue we are pleased that Tobias Rohner and Andrea Bolliger have contributed an update to their original chapter on Switzerland in Family Offices: The STEP Handbook for Advisers, published by Globe Law and Business. In "Switzerland update", they open with the statement that current global trends include pressure for transparency and harmonisation. In relation to those ongoing important trends, they consider the Covid situation to be a "minor, short-term interruption". Meanwhile, Switzerland has adopted the OECD standard regarding mutual administrative assistance in tax matters. It has also seen several domestic legislative proposals regarding their brand of lump-sum taxation, the capital tax, the withholding tax and corporate tax reform. Lastly, they give an update on Switzerland's so-called white-money strategy. They close with a caution about the impact of transparency: "Regardless of where a family office is located, any of the family offices using Switzerland for investment purposes need to be aware of these extensive changes." Nonetheless, they express confidence that Switzerland will survive and thrive.