Summary Switzerland is known for its high standard of living and well-developed private banking market, as well as a favorable tax system kept in check by each of the 26 Swiss cantons. These factors, along with the country's favorable level of economic stability, make Switzerland an attractive location for HNW expat investors. While the HNW segment is forecast to grow at an annual rate of over 5% between 2016 and 2020, the rest of the country's affluent population is expected to develop at a much slower pace.
Key Findings - Switzerland is one of the largest offshore centers in the world, but increased pressure on information exchange has impacted its attractiveness for tax and offshore purposes.
- Nearly half of non-resident deposits are sourced from the Americas, accounting for the largest share of total non-resident retail deposits in Switzerland.
- At the end of 2014, of the 6.6 million adult individuals living in Switzerland an estimated 74.5% could be considered affluent. The country has by far one of the highest levels of affluent and HNW individuals among sizable economies.
- HNW individuals in Switzerland allocate 81.6% of their assets to traditional liquid investments. The Swiss market has a well-balanced allocation outside of deposits, although these still account for 32.8% of total retail investments.
- Switzerland has signed numerous agreements to improve collaboration with other nations, and previously reached a Model II Foreign Account Tax Compliance Act agreement with the US. From January 1, 2017, Switzerland will also start exchanging information under the OECD's Common Reporting Standard.
Synopsis Verdict Financial's “Wealth in Switzerland: Sizing the Market Opportunity 2016” analyzes the Swiss wealth and retail savings and investments markets, with a focus on the HNW segment. The report is based on our proprietary datasets. Specifically the report:
- Sizes the affluent market (both by number of individuals and the value of their liquid assets) using our proprietary datasets.
- Analyzes which asset classes are favored by Swiss investors and how their preferences impact the growth of the total savings and investments market.
- Examines HNW clients' attitudes towards non-liquid investments such as property and commodities.
- Identifies key drivers and booking centers for offshore investments.
- Examines the tax landscape in Switzerland and future implications for investors.
Reasons To Buy - Benchmark your share of the Swiss wealth market against the current market size.
- Forecast your future growth prospects using our projections for the market to 2020.
- Identify your most promising client segment by analyzing penetration of affluent individuals in Switzerland.
- Evaluate your HNW proposition by understanding how the Swiss tax system impacts HNW clients.
- Review your offshore strategy by identifying HNW motivations for offshore investments and their preferred booking centers.
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