Chapter 1957： Just play hooligan

The relocation of the bank's headquarters has never meant that it can be moved. First of all, Swiss ZF disagrees.

Because Yuanshan Bank integrated their Swiss banks. Now you have completed the integration. If you want to move the bank, no one can agree.

The Yang family felt like a mirror in their hearts, but the more they knew it, the more difficult it would be to handle it. It's better to be stunned, knowing nothing, and no one can tell what to move away.

Yang Cheng said, "Actually, there is a ready-made reason. Have you forgotten the convention on the first day of the new year?"

Everyone was stunned. At the same time, they thought that on January 1 this year, the "International Convention on the Automatic Exchange of Banking Information" signed by OECD member countries and 47 countries including Z, Brazil, Singapore, etc. formally came into effect, and Switzerland was also among them. This means the official end of the country's "tax haven" status.

Liu Muqian nodded and said, "I also received a notice from the Swiss tax authorities that they have begun to collect relevant bank information and will share information with other member states for the first time in 2018, but this information can only be used to combat tax avoidance and cannot be made public. "

Yang Orange waved his hand, "These are all high-sounding excuses. Everyone knows what the real purpose is, and we all know who is behind it."

"Anyway, this is indeed a good excuse, and by taking advantage of this opportunity, we can build a reputation in one fell swoop." Yang Sen also affirmed Yang Cheng's suggestion.

In fact, the standard for the automatic exchange of information between banks was proposed by the OECD as early as 2014 and passed at the G20 Finance Ministers’ Meeting in February of that year. It aims to allow bank information to be automatically exchanged between the judicial departments of various countries. Fight against tax evasion.

This convention may be the most significant breakthrough in global measures to combat tax evasion. In the future, if a citizen of a member country that participates in the convention opens a bank account in another member country, the tax authority of the country to which the citizen belongs will automatically obtain account information, thereby achieving the fight against tax avoidance. the goal of.

It is of epoch-making significance for the tax collection of various countries, but it is definitely a big blow to Switzerland.

We must know that the reason why Switzerland has a great international status and high reputation is not because of Federer or Swiss watches, let alone a saber, but their long-standing bank secrecy system.

In 1713, the Geneva Parliament enacted the Banking Act, which stipulated that bank personnel had the responsibility to record customer information, but prohibited the disclosure of customer information to others. This became the prototype of the Swiss bank secrecy law.

On November 8, 1934, Switzerland formally passed the "Federal Act on Banks and Savings Houses", stipulating that banks must protect the security of depositor accounts. Any depositor can choose to open an account in any way he considers appropriate and safe. Under no circumstances should the depositor information be leaked, otherwise it will be subject to legal sanctions.

In the past, Switzerland only provided banking information to a few countries such as the United States, and it did not guarantee full cooperation.

But after UBS was investigated by F~B~I in 2008, the Swiss banking industry began to face unprecedented pressure from international public opinion, and finally signed the convention.

The signing of the Convention means that Switzerland, known for its tradition of bank secrecy, will accept this new standard and promise to submit foreign customer account information under this standard. The Swiss bank’s tradition of protecting customer privacy may end.

God knows how many gray funds are hidden in Switzerland, and signing this convention is equivalent to Switzerland breaking its arms.

But there is no way. The situation is not as good as people. Although Switzerland is a permanent neutral country, it does not mean that they can not be threatened. These years, they are afraid and afraid of death. If people are used as a metaphor, Switzerland is a suit and leather. Elegant and elegant gentleman, while the United States is the second generation of nouveau riche, rich people have domineering personality, is a rich and powerful scumbag, big rascal.

The gentleman tells you the truth, the gangster talks to you about his fist, and the end is-the gentleman's humiliated face was cleaned up, and he had to accept the reorganization of the stinky gangster.

Everyone knows who is behind the adoption of this convention. Look at the list of countries that are involved in the convention. The United States, the world's most powerful combatant against tax avoidance, is not among the signatories of the convention. Isn't it intriguing?

On the one hand, the United States has already established its own network for global tax recovery: the Foreign Account Tax Act (FATCA), and Switzerland is also a member of the agreement.

On the other hand, in recent years, many wealthy individuals have been evacuating their money from the traditional offshore tax haven Switzerland and then transferring it to the United States. In other words, the United States itself has become the "new Switzerland" that protects wealth secrets.

According to statistics, about 8% of global financial assets are located in major offshore centers, causing US$200 billion in tax losses to countries’ ZF each year, but there are large differences between countries. The figure for polar bears is 52%, and some countries in the Gulf are 57%. %, but only 4% of US financial assets are located in offshore centers.

As the United States refuses to sign this convention, the United States is now creating a new hot market. From lawyers in London to trust companies in Switzerland, all are assisting wealthy clients to transfer accounts in Switzerland, the Bahamas and the British Virgin Islands to the United States. Nevada, Wyoming and South Dakota.

do you understand? Is to use laws and regulations to prohibit you from doing business, and then take this lucrative business to do it yourself, typical hooliganism, is there a way? There is no way, unless you build a F250 that can kill the world, you can make the F22 and F35 in the United States throw the rat.

However, for customers, especially those big customers who can save money in Switzerland, they are rich people with names and surnames everywhere, and their blood is not very warm. Since the tax rate in the United States is relatively "friendly" than other developed countries, The highest personal income tax rate is 39.6%, while capital gains tax is 15% to 20%, which is much lower than 40% in most European countries. So why not take the money to the United States?

Moreover, the United States not only has relatively low tax rates, but it is also very easy to open offshore companies in some states such as Nevada, Delaware, Montana, and New York. Those who open shell companies in these places do not even need to provide a passport. , Driver’s license and other identity certificates.

In these places, it is easier to start a company than to apply for a library membership card. In the eyes of the rich, this is a manifestation of efficiency. They can do what they want in a shorter time and more convenient way, so why bother to spend money. In Switzerland?

The most important thing is that the United States has not joined any international disclosure standards. In other words, while requiring other countries to provide local financial information for American citizens, it does not share information about foreigners in the United States with other countries. Compared with the British Virgin Islands, the tax avoidance destination Switzerland is more "safe and reliable" for tax avoidance in the United States.

Even U.S. banks can help customers transfer wealth to the U.S. so as not to be taxed by the home country’s ZF and hide their property. Therefore, once this agreement is signed, it will not take long before the U.S. will become the world’s largest tax haven. The U.S. lacks enforcement of foreign taxes. Legal resources and have no intention of doing so.

So the biggest beneficiary of this convention is the United States!

Of course, Yang Cheng doesn't care who is the ultimate beneficiary. Yuanshan Bank also has a headquarters in the United States, and it does not delay them from moving their former Swiss headquarters to Liechtenstein.

The reason why he is so enthusiastic is mainly because of the relationship between Alois. Liechtenstein, which is also a neutral country like Switzerland, as long as there is no war in Europe, this small country is safer than Switzerland in a strategic sense. It even takes advantage. The most important thing is that, as the crown prince, Alois, unless he is a short-lived ghost, he has enough time to become the umbrella of Toyama Bank.

amount. . . Well, the term umbrella seems to belittle the Yang family's status, so change to another, the most powerful partner!

The family behind him is a royal family that has gone through 900 years, not only has a long history, but also has the most wealth on the European continent.

The foundation of this huge wealth is LGT Group-the world's largest private bank and asset management group wholly owned and managed by the family.

The most important thing is that both parties can get what they need, instead of unilaterally requesting or paying. The basis of cooperation between the two parties can be said to be infinitely close to equality. This kind of cooperation is more reliable.

Yang Cheng is happily happier. After he takes over from Yuanshan, Alois will almost take over the throne. The honeymoon period of the cooperation between the two parties will be extended indefinitely. The stability of the zheng power and the control of the economic lifeline are the king of Liechtenstein. The key to the preservation of the wealth of the family is also the bond of cooperation between the two parties.

The curse of "no richer than three generations" completely failed to confine the 900-year-old Liechtenstein family, and could it also lock the cooperation with the Yang family?

Yang Cheng felt that his luck was not so bad yet!

What makes Yang Cheng coveted is that the royal family has accumulated art treasures for 900 years. Today, the art collection of the Liechtenstein royal family ranks the highest in the world.

However, the accumulation of huge wealth and artworks did not happen overnight. In this sparsely populated and resource-poor country, the pains experienced after the Second World War made the royal family survive only by selling art collections. In order to solve the financial difficulties, the royal family sold Da Vinci's famous painting "Ginevilla de Banchi".

what does this mean?

It means that even if this small country is finished, the royal family will not fall!

But the royal family is well versed in the principles of economic development and will not easily let the country go to death. Knowing that its country lacks industrial resources, then simply base itself on finances. Regardless of the size of the country, the density of private banks is the highest in the world.

But they were still hungry, and they refused to come to the powerful private bank, and even let the crown prince come out to pull people in person!

Banks alone are not enough. Banks also need customers to maintain. Simple deposits and withdrawals and financial services are not attractive to high-net-worth individuals, although more and more banks are now developing high-value-added non-financial Service, but LGT Group, which is run by the royal family, knows the needs of high-net-worth individuals.

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