According to a recent report by the bank Credit Suisse, the Swiss are worth more on average than the residents of any other nation. The bank’s annual Global Wealth Report calculates average net worth per Swiss adult to be US$ 564,653 (CHF 560,643) at mid-2019. The median figure was US$ 227,891 (CHF 226,273). Switzerland’s combined […]
Suicide doctor convicted in Geneva
Geneva-based doctor Pierre Beck, vice-president of the assisted suicide organisation Exit, who helped a 86 year old woman end her life has been convicted by a Geneva court, according to the newspaper Le Matin. The retired doctor was sentenced to a 120-day suspended sentence and a fine of CHF 2,400 for helping an 86 year […]
Swiss central bank makes 388 million from negative interest rates
The Swiss National Bank (SNB), Switzerland’s central bank, has earned CHF 388 million from negative interest rates since introducing them in 2014 to tame the rising strength of the Swiss Franc, according to the newspaper SonntagsBlick. On 15 January 2015, the SNB announced that it was abandoning its policy of maintaining an exchange rate cap […]
A guide to changing Swiss health insurance
It’s that time of the year again. Once a year every insured person has the right to change the provider of his or her basic compulsory Swiss health insurance. For most people changing is only possible if you cancel your existing policy by 30 November. This date is approaching. Deadline for annual changes is 30 […]
Swiss federal election results 2019 – winners and losers
On 20 October 2019, Swiss voters chose members of the 200-member National Council (parliament) and 46-member Council of States (upper house). Parties winning the greatest number of seats in the National Council were the Swiss People’s Party (UDC/SVP) – 53 seats (-12), the Swiss Socialists Party (PS/SP) – 39 seats (-4) , the Liberal Radical […]
Raising Switzerland’s retirement age – big differences of opinion
Switzerland’s government has long discussed the importance of raising the retirement age to ensure the financial viability of the pension system. However, it is not clear whether voters would support such a plan. According to a survey by Deloitte, an accounting and consulting company, raising the official retirement age might not find majority support among […]
Swiss upper house calls on executive to end marriage tax penalty
In Switzerland, some married couples pay more tax than unmarried ones, something referred to as the marriage tax penalty. The issue has been doing the rounds of the halls of Switzerland’s government for around 30 years. On 28 February 2016, a vote to change the current system was narrowly rejected by 50.8% of voters. Then […]
Zurich homes market in highly overvalued territory, says UBS
Every quarter UBS, a bank, publishes its real estate bubble index, a report that covers real estate prices in 24 cities around the world. In the third quarter of 2019, Munich was listed as the most overvalued housing market in the world. Bubble risk was highest in Munich, Toronto, Hong Kong and Amsterdam. Frankfurt, Vancouver […]
EU removes Switzerland from tax haven list
In December 2017, the European Union (EU) set up a blacklist and a grey list of tax havens, countries it deemed were being used to help companies and wealthy individuals reduce their tax bills. Switzerland ended up on the grey list. Nations on these lists faced reputational damage and stricter controls on financial transactions with […]
Why Switzerland ranked near the top of the 2019 global competitiveness ranking
Switzerland made the the top 5, after dropping from 4th to 5th, in this year’s World Economic Forum (WEF) Global Competitiveness Index. Switzerland’s decline was largely due to a down weighting of a factor where it is strong, according to WEF’s Saadia Zahidi. The Global Competitive Index measures performance in 114 areas that influence a […]
