Tag Archives: Switzerland

Bitcoin Suisse AG Gets Licensed, Will Turn on ATMs in Zurich

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“In a statement released Monday, the CEO of Switzerland’s Bitcoin Suisse said his company had been approved by government regulators to start operating Bitcoin ATMs in the country.  ‘BTCS will turn on its existing — but until now offline — ATM network, consisting of a number of Zurich-based machines,’ Nicklas Nikolajsen said in a statement. ‘A network which will be expanded throughout eastern Switzerland and Liechtenstein, and where BTCS is now actively looking for locations and partners to realize this vision.’  He said that over the coming months his company would expand to offer new products and services, and welcomed investors to purchase equity or bonds.”

http://cointelegraph.com/news/112173/bitcoin-suisse-ag-gets-licensed-will-turn-on-atms-in-zurich

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Bitcoin Innovators Find Fertile Ground in Soft-Touch Switzerland

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“The neutral European nation is becoming a ‘mecca’ for financial cryptography, says Chris Odom, the Chief Technology Officer at Monetas, who announced that he had finally moved his family from Austin, Texas, to Zug, Switzerland to be with the rest of the company’s team and help build the German-speaking region’s ‘Crypto Valley’.  Why the growth in Switzerland? Odom attributes it to the country’s ‘legendary neutrality,’ as well as its respect for privacy and security — two big buzzwords for cryptographers — and the fact that it is already a tech hub.  It also likely helps that Swiss regulators have so far taken a relatively accommodative, hands-off approach toward bitcoin.”

 

http://blogs.wsj.com/moneybeat/2014/08/04/bitbeat-crypto-innovators-find-fertile-ground-in-soft-touch-switzerland/

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Swiss Gun Ownership: The Real Story [2013]

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“Although Switzerland is one of the most gun-friendly countries in the world, there have been some misconceptions concerning the rules and regulations governing Swiss gun ownership. In this video, Rex discussed gun ownership in Switzerland with a participant of the Swiss shooting community. Although the shooting culture is very strong in Switzerland today, the laws governing private firearms ownership is more restrictive than many American gun writers make it sound.”

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Switzerland: From Banking Paradise To Data Safe Zone

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“Data storage is booming in Switzerland. Attracted by the country’s political neutrality and ironclad privacy laws, a growing number of people and companies are choosing to keep their sensitive information in the nation’s servers.  Behind the rush: Edward Snowden. Since he first blew the whistle on the National Security Agency’s surveillance activities last year, demand has surged for the services of Swiss data-storage companies.  The right to data privacy is so deeply rooted that it’s written in the Swiss constitution: ‘Every person has the right to privacy in their private and family life and in their home, and in relation to their mail and telecommunications.'”

http://www.npr.org/2014/07/12/330751548/switzerland-from-banking-paradise-to-data-safe-zone

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Bursting Switzerland’s bubble

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“Last year, SNP chief Thomas Jordan requested a [buffer] to be introduced for Swiss banks, forcing them to hold an additional one percent of risk-weighted assets to stave off the potential dangers of the housing boom. Earlier this year, as worries about a bubble increased, the SNB instigated a number of policies to prevent any more dramatic rises. This included doubling the capital buffer requirement to two percent. However, despite a partial slowdown since January, Jordan told reporters in March that the work was not yet done. ‘The pace has slowed, but we are far away from the soft landing we want. We don’t yet see the slowdown that we would like to see.'”

http://www.worldfinance.com/wealth-management/bursting-switzerlands-bubble

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At Walgreen, Renouncing Corporate Citizenship

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“The chief executive is now considering moving the company’s headquarters to Switzerland as part of a merger with Alliance Boots, a European drugstore chain.  Why? To lower Walgreen’s tax bill even further.  The company’s tax rate would be cut to 20 percent as part of Alliance Boots from about 31 percent now. Interestingly, Alliance Boots, which was originally based in Britain, moved to Switzerland in 2008 in large part to lower its tax rate.  Dozens of large United States companies are contemplating the increasingly popular tax-skirting tactic known as an inversion. Under the strategy, companies merge with foreign rivals in countries with lower tax rates and then reincorporate there.”

http://dealbook.nytimes.com/2014/06/30/renouncing-corporate-citizenship/?_php=true&_type=blogs&_r=0

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US Foreign Wealth Confiscation Begins: FinCen, FATCA and FBAR

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“Carl Zwerner, an 87-year old Florida man, must pay the US government a 150% penalty on the value of his Swiss bank account, amounting to the biggest penalty by percentage on record.  Zwerner testified, telling jurors that he tried to enter the IRS voluntary disclosure program, and that he didn’t know until 2008 that he must file FBARs. ‘Zwerner’s original tax returns for 2004 to 2007 didn’t report any income from the Swiss bank account,’ reads a US complaint filed in June 2013. ‘The first time he reported such income was when he amended those returns.’ He failed to declare interest on his foreign account. The account was opened in the 1960s, and was held in the name of two foundations.”

http://www.thedailybell.com/editorials/35372/Jeffrey-Berwick-US-Foreign-Wealth-Confiscation-Begins-Under-the-Code-Names-FinCen-FATCA-and-FBAR/

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Swiss Freeports and the Invincible Tax Evader

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“Freeports have an impressive history. They arose from the legal exemption that items ‘in transit’ receive from taxes and tariffs. It was expected that this exemption would only be temporary as shipped goods transferred between planes or were temporarily stored while awaiting shipment to their final destinations. But investors quickly realized another, more profitable use for them. Because there was no limit on how long something could be ‘in transit,’ freeports offered an innovative solution for avoiding taxes and tariffs on high-value assets.  This system allows stored assets to appreciate in value, and it also allows for tax-free sales.  Demand for space has surged to unprecedented levels.”

http://www.fee.org/the_freeman/detail/swiss-freeports-and-the-invincible-tax-evader

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The Strange Tale of Swiss Banking – And What It Means for You

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“It is interesting that remaining private banks are switching from partnerships to corporations. Judicially enforced corporate personhood distorts markets and enables market behavior that would not otherwise be feasible or tolerated. What remains most puzzling is that this most powerful industry composed primarily of private Swiss banks allowed itself to be virtually ruined in a few years’ time. The precedent has been set, however. One nation may indeed interfere judicially in the affairs of another and force compliance, part of a wider assertion of privilege by a US government that is attempting to turn banking systems around the world into part of the US tax collection effort.”

http://www.thedailybell.com/news-analysis/35355/The-Strange-Tale-of-Swiss-Banking–And-What-It-Means-for-You/

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Jacob Hornberger: A Glimmer of Light from Switzerland

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“What about the Swiss unemployment rate? It ranges from 2-3 percent. Compare that to a permanent unemployment rate of 40 percent for black teenagers in the United States, who are locked out of the labor market by the federal government’s minimum-wage laws.  America is mired in a debate over how much the minimum wage should be raised. That’s the wrong debate. The debate should be over whether the minimum wage should be abolished entirely. And it should be! Perhaps the Swiss defeat of a national minimum wage for their country will shed some light on the direction the United States should take.”

http://fff.org/2014/05/20/a-glimmer-of-light-from-switzerland/

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