One of the successfully fabricated myths about Switzerland is as a country which is between the most attractive in the world for investment. In the financial circles, Zürich is the undisputed central European financial hub and among the top five globally. Is it really so?
Back in the time, the country’s transformation into a financial paradise ends with the attracting of the industrial capital of Germany which must be saved because of the start of the World War II. Many point to this as a starting point, but in a fact with attracting the German capital, Switzerland saves its neutrality, against the responsibility to manage and multiply the War’s money of the Nazi Germany and also the money of the War’s victims. What is more important there is the fact that this is the starting point of the worldwide biggest ever misuse and abuse of money. Till today, there is no other nation in the world who has the historical luck and happiness to manage the money of wholes nations. No one, except the Switzerland has the privilege to charge almost the half of the money owners worldwide for managing their asset and those without the money owners to have other than Swiss as a choice. Period. And turn point in the money history. It is the golden time for the small Swiss.
The truth about is that Switzerland is not ready to manage such amount of money at this time. There is not enough professionals, labor force and financial structures in the country, etc. This lack of sufficient professionalism and ability to work with uncontrollably growing at times cash volumes has left its traces in the Swiss banking industry even till today…
As almost any (other kind of) industry, the banking is imported in the Switzerland, not made by. But the Swisses are good at the import of what they need of and in the sub-rental of foreign asset and in the charging of foreigners at higher possible rates. The money is not exclusion. In addition, the country’s industry capital is not enough, the infrastructure need to be develop and the War makers needs money to produce more weapons…
It is the time in which the modern money management system is born. It is the first time so much of the others’ money is hold in one country only and this ‘money superpower’ is concentrated in few hands only.
In nowadays, the country is not among the top then easy to start a business jurisdictions. Is not between the top then of the best countries for business and is ranked only twentieth place in the world ranking of doing business.
With a combined income tax rate that can reach 41.5% and a combined corporate tax rate up to 24.0% it seems the ‘attractive’ is not the best to be used.
With being among the countries that are with the highest expenses of living and buy/rent a home worldwide, what the h* is the ground to be named ‘investment attractive’?
to be continued