What if you changed your country of residence?

What if you changed your country of residence?

Vanessa Neil, Wealth Advisor at Piguet Galland was the guest on World Radio Switzerland on Monday 13 June 2022 to talk about mobility and wealth.

Listen to the entire podcast (5 min):

 

Mark Butcher, World Radio Switzerland

So people are very concerned they’ve been working in a country which outperforms in attractivity to multinationals.  There are lots and lots of international professionals who come, they’re completely focused on their working lives and on their family lives, but they’re not necessarily taking the right steps to get the money that they’re working hard to earn, working for them. 

Usually they’re aware of that.  The subject of personal finances remains very taboo, so it’s not easy for them to find places (safe, secure places) where their personal interests will be fully respected and where they can get the advice they need around maybe their second pillar, their third pillar, also understanding what this “Compte de Libre Passage” or vested benefit account is when they leave Switzerland. 

Those are the things they worry about. 

Mark Butcher, World Radio Switzerland

So I can imagine, yes, if you’ve certainly been working in Switzerland for a number of years, you’d be paying into the Social Security into the AVS, you refer to the first and second, maybe a third pillar; so you can help people to make sure that all that money that they’ve paid in remains safe for when, perhaps, they want it when they do eventually retire, wherever in the world that may be. 

Vanessa Neil, Piguet Galland

Exactly many people don’t realize that they can actually continue to benefit from the security and strength that the Swiss financial structure has to offer. 

I often say that it’s a bit like imagining a virtual wine cellar; when people move abroad, they’re busy worrying about how to move furniture, maybe how to move their pets, or how to change schools for the kids. 

They may be worrying about moving a wine cellar, but if they consider that their financial investments are like a virtual wine cellar where they’ve chosen the bottles that suit them the best for the short term, maybe for some special events for longer term, and then they can actually have their own wine cellar designed which will keep their investments safe and secure In a protected environment, so with tax efficiency, depending on where they’re going to be living. 

And that advice they can get in Switzerland and organize before they leave. 

Mark Butcher, World Radio Switzerland

So this is an event or let’s say a talk, a discussion, about how people can protect all aspects of anything right down from what they might have in their savings account, right up to their pensions. 

Because I can understand some people being quite, let’s say, worried about the bureaucracy that actually might be needed to make sure their Swiss pensions stay safe. 

Vanessa Neil, Piguet Galland

Yes, absolutely. 

One of the reasons why we’re doing this is because at Piguet Galland, we’re focused on supporting people in their life projects, particularly when times are challenging and we know with the difficult geopolitical situation at the moment, people are often very worried about the economy, about the strength of the economy, about financial security. 

So we’re organizing this event quite simply as an informal after-work event where experts will be available on the subject of wealth planning, but also on the subject of insurance and international insurance solutions and so people are actually able to ask questions, one to one, with our with our teams and our partners. 

 

Join our next “in person” event on Wednesday June 15th Piguet Galland & your international life.