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Le Tour de Finance heads to Switzerland

By Spectrum-IFA - Topics: Le Tour de Finance, Pillar 3a, Switzerland, Uncategorised
This article is published on: 21st September 2016


Le Tour de Finance, 29th September Nyon, Switzerland.

“Three ways to save tax”


What is Le Tour de Finance?

Are you interested in finding out how to make the most of your money in France, Spain or Italy? Do you have pressing questions about making international payments, pensions, tax, wealth or the healthcare system? Why not take the time and come to a local event, bring some friends and make it a great day out?

Le Tour de Finance is the financial forum for expats which will help you with a range of different financial products and services. Just as Le Tour de France takes a route throughout the regions of France, so too does Le Tour de Finance, but we also visit Italy, Spain, Switzerland and Belgium. We want to reach expats where you live so that you can seek advice particular to your local area. Tax advice, pensions, mortgages, healthcare, schools, business advice and making the most of your assets are just some of the subjects that expats need to know more about. Le Tour de Finance is the ideal opportunity to find answers to the most pressing questions facing people living in France, Spain or Italy.

The forum will bring together key players who assist expats settling or already living in these countries. It will also be an ideal opportunity to socialise by enjoying a free Buffet lunch and meeting people in similar circumstances in your neighbourhood.

As an expat, do you make the most out of your finances?
Come and join us for expert advice and to meet other like-minded expats in your local area. The event starts at 18.45 with a welcome drink, followed by some brief presentations from experts on a range of topics that could affect you now, or in the future. This engaging events ends at 20:30 with drinks and canapes and a chance to meet the experts and hopefully make some new friends.

Register for this FREE event or for further ­information, by sending an email with your full contact details to:, register online or call +33(0)4 22 32 62 40

Le Caveau de Nyon
Château de Nyon, Place du Château,
1260 Nyon,Switzerland

29th September, 2016
The event starts at 18.45 and ends at 20.30 with drinks and canapes.

Brief presentations on a range of topics including: Tax efficient planning: for Frontaliers and Swiss residents; Why you need a Swiss Will!, Transfers between currencies: beat the bank margins!, Wealth management: seeking positive returns post-Brexit, QROPS- the latest rules on transferring UK pensions overseas, and what the advantages may be, How do the Swiss Pillars work, and how do I save taxes?, Swiss Mortgages- how they work, how to optimise to save taxes.



Working in Switzerland and living in France – Pillar 3a

By Anton Taylor - Topics: France, Pillar 3a, Switzerland, Uncategorised
This article is published on: 25th November 2015


Getting the best of both worlds.

Many people working in and around the Lac Leman area make the choice to work in Switzerland but live in France. This has many advantages, such as cheaper housing and a lower overall cost of living. However, the downsides are that you fall into two separate tax and bureaucratic systems. Whilst this can be a headache at times, with a little planning it is possible to make the best out of both systems.

By living in France you would by default fall into the French tax system for everything but your income, which as it arises and is paid in Switzerland, is subject to the Swiss tax system.
The upside to the Swiss tax system is that many things can be offset to reduce your overall tax bill, such as the cost of commuting, clothing, loan interest, lunches if you are unable to get home and contributions to the Swiss Pension System. For a full list you need to contact a Swiss tax specialist, but the simplest way to minimise your tax bill is to contribute to a Swiss 3rd Pillar pension scheme.

These schemes allow an employed person to gain tax relief on up to CHF6,768 per annum 2015/16, the self-employed or those without an employer funded Pillar 2 can contribute up to 20% of their net income up to a maximum of CHF33,840. These deductions are straight off your top line of tax and as such enter the plans tax free.

There are two types of Pillar 3a plans, these are bank accounts and insurance schemes. The bank account has no obligation to contribute each year and in return you receive whatever the prevailing interest rate is or the banks own funds. The insurance scheme is a contract to pay until retirement, but includes a life insurance element and a guaranteed minimum performance and future cash-in values. The insurance schemes are also accepted for the amortisation of mortgage debt and, if you leave Switzerland, the policy can be converted and continued into a Pillar 3b that does not receive the tax relief but has all of the other benefits.

Use of an insurance Pillar 3a reduces your Swiss tax bill and also boosts your retirement income, so a win-win situation.

Once your income has been taxed, all other areas fall into the French tax system and are subject to Wealth Tax, tax upon interest and social charges.

If you are resident in France, you are required to pay Social Charges of 15.5% on all of your worldwide investment income and gains. Following a ruling in February 2015, if you are employed in Switzerland and paying AVS and medical insurance premiums, then you are not subject to French Social charges on income and gains and any charges paid in 2013 & 2014 can be claimed back. However the claim for 2013, must be submitted by 31st December 2015 or you will lose the right to a reclaim.

It is also important to note that elements that are tax free in other countries, such as ISAs, lump sums from pensions and premium bond winnings, are all subject to tax in France.

As far as your assets are concerned the best and only way to shelter these from punitive French taxation, either on an annual basis or upon death, is via the use of an Assurance Vie contract.

This protects your investments from wealth tax and provides a favourable tax rate upon drawing down of the assets. It can also provide for mitigation of the succession tax, as well as ensuring that the monies end up where you want them to.

A further issue is succession planning, and the fact that if you do not have a French will, then the French authorities will apply the French succession rules to your entire worldwide estate. So it is really important to get a French Will.

Finally the best way to ensure that you are making the best of both worlds is to take expert advice from a company that is licenced in both France and Switzerland such as The Spectrum IFA Group. As expats ourselves we fully understand the rules and laws for both countries.