Till just recently, few companies from the China placed their operations between the metropolitan areas of Geneva and St . Gallen. However , it is beginning to change rapidly as more big Asian firms discover Switzerland for setting up an offshore incorporation.
A few firms have previously settled here, such as the Chinese Alibaba (media) headquartered in the city of Geneva. Others are the South Korean Songwon International (chemistry) in Frauenfeld as well as the Indian Arexera Information Technology in Schaffhausen.
To most entrepreneurs, Switzerland appears like an attractive location to do business via an offshore incorporation. That is why more than one hundred and eighty international firms mostly from the U. S. and Europe like Kraft Foods, Cisco Systems, Nissan, Bing, Cadbury or Google moved their operations to the Lake Geneva area during the last decade.
Switzerland Gains Draw as Taxes Haven
Several big U. S. companies are reincorporating through Bermuda to Switzerland. This helps all of them avoid expected legislation aimed at corporations located in tax heavens.
Just recently, oil-industry firms Weatherford International Limited., Forster Wheeler Ltd. and Houston's Noble Corp. as well as also conglomerate Tyco International Ltd. announced their own moves. A similar move plans Transocean Inc., a big offshore driller after receiving shareholder approval. Early this season (2008), the board of Bermuda-based insurer ACE Ltd. approved the "redomestication" from the Cayman Islands to Zurich.
Chiefly, the moves are designed to preserve tax benefits the companies enjoyed whilst being domiciled in countries such as the Cayman Islands and Bermuda or even in the US state Delaware with favourable tax rules.
However, those companies found that Switzerland is a better place with regard to tax protection than in these countries. Tax authorities have threatened in order to close tax loopholes that permit U. S. companies to benefit from incorporating in offshore tax havens while operating from the U. S. Even if the laws should change, Switzerland's tax treaties with the U. H. would still protect companies. For this reason, offshore incorporation in Switzerland will ensure the same tax advantages.
For years, the French part of Switzerland offers lagged behind its Swiss-German competitors as a location for commerce. The city of Basel with its pharmaceutical, chemical and biotech industries flourished for years. Zurich's financial services sector also increased very rapidly while the French speaking part of our country drew up the rear, bothered with above average unemployment and a lack of dynamic businesses.
Switzerland has become the logical choice for a company looking for their European operations plus headquarters to this region. Regional corporation seats mean high-qualified jobs for people with a good education and appropriate salaries as well as a knowledge transfer.
According to a research in 2006, international companies already operating from Switzerland would once again settle here. The companies from India, China, Taiwan and South Korea are going global right now. It has to achieve that the champions from Asia grow stronger into the world economy.
Nevertheless, they keep coming, not just through Asia but also from all over the world. The town of Rolle for instance has already made room for U. S. agriculture giant ADM (Archer Daniels Midlands) this year. So also to the Japanese luxury car brand Infiniti (Nissan International SA), which has set up its European operations to this town.
Nearby, the town of Nyon is the second most dynamic area in Switzerland for brand spanking new offshore incorporation start-ups. It is currently registering an annual increase of seven per cent. Morges, another town close by registers similar increases. The addition of businesses moving into the Geneva-Montreux region was very noticeable in recent years.
The Lake Geneva region - the perfect location for an offshore incorporation
Experts cite a combination of aspects. The region offers quality of life to expat workers who are used to the every day grind of commuting in big European or U. S. urban areas.
Than, there is the availability of highly experienced staff, both in numbers and in proximity to the company's location. This is instead difficult to find in other European countries. Additionally comes that Switzerland has a high academic standard and many employees are bi- if not tri-lingual.
For this cause, the region is proving particularly appealing to companies in the service industries. It will likewise move U. S. companies closer to a faster-growing customer base in East Europe and Asia, where more than half of their revenues may come from today.
Combine that with a very attractive taxation level and the availability of international schools for the children of managers...
... and the result is an overall offering that makes areas like this appear very attractive in international terms. For a lot of, it is reason enough to move their European headquarters to Switzerland to create an offshore incorporation.
About the Author:
I am Janelle from Lyon. I love to play Lute. Other hobbies are Association football.
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