Billionaire Bitcoiner Flees UK Over Offshore Tax Changes, Settles in Crypto-Powered Swiss City
A high-profile billionaire Bitcoiner has escaped the UK’s upcoming tax changes, opting to settle in Lugano, Switzerland, a Bitcoin-friendly town. The UK’s tighter tax rules on offshore assets have pushed many top investors to leave the country.
Christian Angermayer, a billionaire investor, allegedly fled to Lugano, Switzerland, the Bitcoin capital of the world, in response to the UK government's intentions to increase taxes on offshore assets.
Billionaire Bitcoiner Leaves UK Amid Tax Crackdown
According to Bloomberg's article from September 27, the German-born Angermayer was able to evade UK taxes on his abroad income and earnings for a period of up to fifteen years while he was a "non-dom" resident in the UK.
The Labour Party of Prime Minister Keir Starmer now seeks to do away with inheritance tax exemptions for assets held in foreign trusts, and that was cut to four years in March 2024.
UK Tax Reform Pushes High-Profile Investors to Exit
Noting that it would be "a bigger act of national danger than Brexit," Angermayer said, "The planned changes to the non-dom framework are a huge mistake."
“Every non-dom I know has left or is about to leave.”
Apeiron Investment Group, Angermayer's family office and asset management firm, primarily invests in the cannabis, crypto, and biotech sectors.
Apeiron’s UK Office Continues Operations
The London office of Apeiron will continue to operate even after Angermayer leaves.
Psychedelics and Bitcoin, according to Angermayer's recent speech at the Token2049 conference in Singapore, both help people break free of their egos and governments, as reported by Cointelegraph.
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