Wealthy expats are moving en masse from Dubai to the Swiss canton of Zug
Due to the escalation of the military conflict in the Middle East and the search for more favorable tax conditions, wealthy foreigners have begun to leave Dubai.
According to the Financial Times, the Swiss canton of Zug has become the new favorite destination for relocating capital and families, offering stability and favorable legislation.
The main drivers of this migration are not only private individuals but also large family offices, as well as international companies specializing in financial transactions and commodity trading.
Zug, with a population of just 135,000, is becoming a key hub for those seeking to protect their assets from regional instability.
The region’s popularity stems from having one of the lowest tax rates in Switzerland, making it attractive to international businesses.
In addition to financial incentives, the canton is known as a powerful global blockchain technology cluster, creating additional opportunities for the development of high-tech projects.
Heinz Tennler, the financial director of the canton of Zug, has officially confirmed a sharp increase in the number of applications for residence permits and business registrations.
According to him, representatives from the Persian Gulf are increasingly viewing Switzerland as a permanent base for their operations amid global challenges.
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