According to Odaily, billionaire investor and Bitcoin holder Christian Angermayer has relocated from the UK to Switzerland due to the UK's planned tax increases on offshore wealth for high-net-worth residents. Angermayer, who has investments in Bitcoin, Samara Asset Group, and Bitcoin mining company Northern Data AG, announced his move from London to Lugano this month. In Lugano, both individuals and businesses can settle bills using Bitcoin or USDT.
A source revealed that the 46-year-old German investor had lived in the UK for the past decade and had considered moving to New York and Dubai. During his time in the UK, Angermayer held a 'non-dom' status, allowing him to avoid paying UK taxes on overseas income for up to 15 years. Initially, applicants could enjoy this benefit for free, but those who continued to reside in the UK under the current system would eventually face an annual fee of £60,000 (approximately $80,000).
Angermayer commented, 'Everyone I know with non-dom status has either left or is planning to leave. The planned changes to the non-dom framework are a huge mistake,' calling it 'a potentially greater act of national self-harm than Brexit.' In March, the then-Conservative government, under pressure, proposed that non-UK residents pay taxes on overseas income after four years of residence in the UK, instead of the current 15 years. However, the Labour Party, led by Prime Minister Keir Starmer, aimed to go further, promising to abolish inheritance tax relief on assets held in overseas trusts before their overwhelming election victory in July.