German Billionaire Relocates To Switzerland Amid UK Tax Changes

According to PANews, German billionaire Christian Angermayer has relocated from the UK to Switzerland in response to the UK's planned increase in taxes on overseas wealth for affluent residents. Angermayer, a prominent investor in cryptocurrency and biotechnology, moved from London to the city of Lugano earlier this month. In Lugano, both individuals and businesses have the option to settle bills using Bitcoin or Tether stablecoin. Sources familiar with the matter revealed that the 46-year-old Angermayer had been residing in the UK for the past decade. He had also considered moving to New York and Dubai. During his time in the UK, Angermayer held the status of a non-domiciled resident, which allowed him to avoid taxes on his overseas income and gains for up to 15 years. Initially, applicants could enjoy this preferential treatment for free, but those who continue to reside in the UK under the current system eventually face an annual fee of £60,000 ($80,000). Angermayer remarked, 'Everyone I know who is a non-UK citizen has already left or is planning to leave.'