SW I T Z ER LA N D

Your core juristiction

for wealth protection
Switzerland serves as a gateway to Europe for many fortune 500 companies, as
well as for SME's and startups from nearly every industry sector. The country is
among the top of the best places to work, as well as happiness and environmental
protection. A stable jurisdictional framework with high innovational strength
and productivity sets Switzerland among the most competitive economies.
Financial Centers in comparison
Economy Criteria

Switzerland United States UK Hong Kong Singapore Luxembourg Netherlands

48,451 $
GDP per capita (2019) 1 82,294$ 65,456 $ 42,385 $ 64,579 $ 115,829 $ 52,516 $
(2018)

Debt % GDP (2018) 1 42.64% (2017) 104.26% 85.90% 0.05% 113.63% 21.00% 52.40%

Top tax rate (2019) 22% 37% 46% 17% 22% 46% 52%

Depending on (excluding State (dividends are taxed (dividends are (dividends paid (dividend relief (dividends
Canton and income tax) at special rates; tax exempt) under domestic of 50% may be from qualifying
Municipality top rate 38%) one-tier corporate obtained subject shareholdings >
(best place incl. Qualified dividends system are exempt) to conditions) 5% are taxed at a
Federal tax) 40% (holding period flat rate of 26%)
(worst place requirement) are
incl. Federal tax) subject to reduced
Up to 50% rates applicable
dividend relief to long-term
on shareholdings capital gains
> 10%)

A weighted
notional yield
Long-term on net assets
Long-term capital gains: is taxed at a
Capital gains tax rate
capital gains: 20% top tax 0% flat rate of
on private movable n/a n/a n/a
20% top tax rate (7.5-20%) 30%
assets (2019)
rate (0-20%) (if shareholding is
less than 10%) (not applicable
on qualifying
shareholdings >
flat tax rate 26%)

Depending
on Canton Depending Depending
and degree on degree of on degree of
Estate / inheritance of kinship: In kinship: 0% kinship: 20%
40% 40% n/a n/a
top tax rate (2019) most Cantons for spouse for spouse
0% for spouse and direct and direct
and direct descendants descendants
descendants

61,377$
Average Wage (2015) 1 93,803 $ 54,951 $ 55,054 $ - - 70,545 $
(2018)

2.7% 4.1% 3.6% 3.2% 3.0% 5.8% 3.3%

Unemployment Rate 2
(2020/Q1) (2019/Q1) (2019/Q4) (2017/Q1) (2017/Q1) (2019/Q4) (2019/Q4)

Wealth Management 2
 Assets under 6.9 tn CHF 3.06 $ tn 3.44 $ tn 4.04 EUR tn
n/a n/a n/a
Management 3 (2018) (2018) (2018) (2018)

IWMC Ranking
1 3 2 4 6 7 n/a
Deloitte (size) (2018) 4

Worldbank Ease of
36 6 8 3 2 72 42
Doing Business (2019) 5

Moody's Rating 1 AAA AAA AA2 AA3 AAA AAA AAA

Competitiveness
5 2 9 3 1 18 4
Index (2019) 1

Innovation Ranking
1 6 4 14 5 15 2
(2018) 1

Relocation Criteria

Switzerland United States UK Hong Kong Singapore Luxembourg Netherlands

Quality of Life
5 44 48 28 4 12 17
Index (2019) 6

Ease of Settling (2019) 7 59 35 45 42 11 32 43

Family Life Index

24 32 30 27 8 19 11
(2019) 8

Global Peace
11 128 45 n/a 7 n/a 17
Index (2019) 9

Personal safety
3 Out of top 10 Out of top 10 10 1 Out of top 10 Out of top 10
(2017) 10

GFM Safest Country

2 65 38 8 31
in the World (2019) 11

Education 12 6 1 2 n/a 19 17 9

World's Healthiest
5 35 19 n/a 8 11 15
Nations (2019) 13

Gov. Health. Exp. %

22.4% 39.46% 18.88% n/a 13.56% 11.88% 19.31%
Budget (2016) 13

1 https://countryeconomy.com/countries/compare/switzerland/uk
2 https://www.seco.admin.ch/seco/de/home/Arbeit/Arbeitslosenversicherung/arbeitslosenzahlen.html https://countryeconomy.com/countries/compare/switzerland/uk
3 https://www.swissbanking.org/finanzplatz-in-zahlen/the-swiss-banking-centre/
https://www.internationalinvestment.net/news/4003382/hong-kong%E2%80%99-asset-wealth-management-business-hits-usd-trillion
https://www.finews.asia/finance/29672-singapore-s-asset-management-industry-grew-more-slowly
https://www.infinance.lu/actualites/luxembourg-reaches-record-assets-under-management-over-eur-4-trillion
4 https://www2.deloitte.com/ch/en/pages/financial-services/articles/the-deloitte-wealth-management-centre-ranking-2018.html
5 https://www.doingbusiness.org/en/rankings#
6 https://www.internations.org/expat-insider/2019/quality-of-life-index-39831
7 https://www.internations.org/expat-insider/2019/ease-of-settling-in-index-39832
8 https://www.internations.org/expat-insider/2019/family-life-index-39835
9 http://visionofhumanity.org/app/uploads/2019/07/GPI-2019web.pdf
10 https://www.internations.org/expat-insider/2017/safest-countries-for-expats-39194
11 https://www.gfmag.com/global-data/non-economic-data/worlds-safest-countries-2019
12 https://www.usnews.com/news/best-countries/best-education
13 https://www.bloomberg.com/news/articles/2019-02-24/spain-tops-italy-as-world-s-healthiest-nation-while-u-s-slips
14 https://countryeconomy.com/countries/compare/switzerland/netherlands

Wealth Management 3
26 cantons,
The strategic location, world-class industry clusters
with a globalized banking system, a solid currency

4 languages,
and a competitive tax system positions this little
independent country among the leading economies.

1 economic Europe's most flexible labor law combined with a

highly skilled labor force within a stable political
powerhouse system ensures the high quality of life in general,
beyond the unreal beauty of its nature.

Over 1000 large multinational

companies steer their European or
global activities from Switzerland

TAX RATES for headquarters and

trade companies around 5-10%,
Ordinary taxation 12-24%

CRS &Wealth
FATCAManagement
Country Deadlines 4
Facts & Figures

Innovation & Technology The country Switzerland

• 3 Swiss firms are among the 40 most • Latin: Confoederatio Helvetica (hence: CH)
valuable companies in the world
• Situated at center of Europe, bordered
• Among the top 2 nations with the highest by Italy to the south, France to the west,
number of Nobel laureates per capita Germany to the north, and Austria and
Liechtenstein to the east
• Leading industry clusters:
Life Sciences, ICT, MEM • Size: 41,285 km2 (15,940 sq mi)

• Inhabitants: 8.5 million (2018)

Environment & Life

2018 figures in Swiss Francs (CHF)
• World's highest purchasing power

• World's best working conditions • GDP per capita: 80 986 million

• World's third-highest life expectancy • Gross National Income: 691 417 million

• Multilingual employees with 4 national • Savings of Households: 77 063 million

languages plus English and
• Disposable income households:
international experience
403 838 million

Sources:
https://www.s-ge.com/sites/default/files/publication/free/ihb-foreword-s-ge-2019-03.pdf
https://www.bfs.admin.ch/bfs/en/home/statistics/national-economy.html

Wealth Management 5
Why choose Switzerland

Global Competitiveness
According to the Global Competitiveness Report 2019 of the
World Economic Forum, Switzerland ranks 5th.

The series assesses the competitive landscape of 141 economies through 103 indicators,
organized into 12 themes. This provides insight into the drivers of productivity and
prosperity. The report remains the most comprehensive assessment of national
competitiveness worldwide.

Source: https://www.weforum.org/reports/how-to-end-a-decade-of-lost-productivity-growth

Best Place to Work (and to live)

Switzerland ranks as the best place to work in the Global
Talent Competitiveness Index 2019 and 3rd in the World
Happiness Report.

The report analysed 132 countries based on a 70-variable system. Maintaining an education
system with universities among the top of the world, the country has a well established
apprenticeship program, allowing talents to possess broad general knowledge and
vocational skills, enabling them to launch prosperous future careers. This year the World
Happiness Report focuses especially on the environment – social, urban, and natural.

Sources: https://www.insead.edu/global-indices, https://worldhappiness.report/

Environmental Protection
The Environmental Performance Index 2018 of Yale
University, ranks Switzerland as leader in the world in
addressing environmental challenges

The EPI ranks how well countries perform on high-priority environmental issues in two
broad areas:

• Protection of human health from environmental harm

• Protection of ecosystems.

Source: https://epi.envirocenter.yale.edu/

Wealth Management 6
About KENDRIS
Our team of specialists is dedicated to
preserving the client's wealth and ensuring a
multigenerational wealth transmission.

Stable Swiss base with a global scope While our roots are in Switzerland, we are active
in more than 40 countries around the world.
We are a multi family office with headquarters
in the heart of Zurich, Switzerland. We Our strong presence in Switzerland and
provide comprehensive wealth management specific know-how in various sectors and
and family office services for high net worth markets make us an expert and reliable partner
individuals and families around the globe. for both corporate and private clients.

Get in touch to explore opportunities in Switzerland

Christian Lyk Raphael Cica

Partner, CEO Partner, Head Legal

+41 58 450 59 46 +41 58 450 51 18

c.lyk@kendris.com r.cica@kendris.com

As Chief Executive Officer, Christian Lyk is responsible for the
operational management of KENDRIS and is also Responsible
Officer FATCA.
He has extensive experience in regulatory and compliance
matters. Christian Lyk specializes in advising Ultra High
Net Worth Individuals (UHNWI) on financial, tax and estate
planning and family office services.
Raphael Cica is the Head of the Legal Team as well as a
Partner and the General Counsel at KENDRIS. He specializes
in Corporate Law, with focus on Swiss and international
private companies.
Raphael further advises on international contractual matters,
and specializes in supporting clients with Estate Planning and
Art Transactions.

Christian Lyk began his career in a law firm before joining one
of the world’s leading auditors, where he was employed in a
managerial position in the field of tax consulting. For more
than 15 years he has worked for KENDRIS, first as Head of
the Tax Department and then as Office Managing Partner
of the head office in Zurich. He has been a member of the
KENDRIS Executive Board for more than 10 years.
He offers guidance on Swiss and cross-border Inheritance
Law matters, Trusts, Charitable Foundations and Real Estate.
Raphael has a Masters in Business Law from the University
of St. Gallen, and received the LL.M. with a Business Law
Specialization at the University of California, Los Angeles.

KENDRIS is controlled by the self-regulatory organisation of the Association for Quality Assurance in Financial Services, Financial Services Standards Association (VQF), which is supervised
by the Swiss Financial Market Supervisory Authority (FINMA). This document has been prepared by KENDRIS solely for information purposes. It does not constitute an offer or advice.
KENDRIS shall neither expressly nor tactly accept a guarantee for the accuracy or completeness of the information contained in this document. KENDRIS shall not accept liability or
responsibility for any damage resulting from the use of this document or of parts thereof.