Switzerland Places Itself The Blockchain Capital of the World

; posted on
May 3rd, 2018

After the 20% decrease in the banking institution number during past decades, Switzerland has put forward a new plan to battle against this loss. Johann Niklaus Schneider-Ammann, the Swiss Minister of Economic has indicated to support the in-country cryptocurrency startups and transform the country into the “Blockchain Capital of the World.”

Crypto-Tax Treatment in Switzerland

Currently, four out of the top ten Initial Coin Offer (ICO) ICOs had landed in the country in 2017. Benefitting from the domestic business-friendly banking system, lower taxes, and high education rate, Switzerland aims at establishing a second “Silicon Valley” for cryptocurrencies, especially for the start-ups. For example, Zug, a small town with barely 120 thousand inhabitants, is becoming the heart of cryptocurrency development and the location of the first Bitcoin automatic teller machine. The favourable tax rate of 14.6% therein attracts a group of start-ups, which contributes significantly to the local economy.

Potential Pressure and Risks

Despite certain positive outcomes in crypto-growth, the “Crypto Nation”, as Johann called Switzerland, will face potential pressure from the US, which controls the majority of global cryptocurrency transactions and is famous for its startup-friendly environment. In addition, the notably high operating cost and living cost could pose new challenges to start-ups as well. 

Sources: Bitcoinist, CoinFrenzy

We Provide Solutions - Let's Talk Business!

TPA Global Solutions Pack

“One-Stop” Outbound Investment Service to Europe

With the fast growth of China’s economy and the continuous improvement of the comprehensive strength of domestic enterprises, as well as the implementation of the “One Belt, One Road” policy, an increasing amount of Chinese enterprises are beginning to expand their global footprint and establish their presence in Europe.

Introduction   下载手册   Download Leaflet

CFO's Journey from 'Staying Out Of Trouble' to being 'Fully In Control'

TPA Global has developed a practical roadmap of 6 steps meant to guide CFOs in their Journey of rising above troubles to reach a situation of full control. These steps are presented in a series of short video clips (3-5 minutes):

Roadmap for CFO's

Copyright © 2019
Transfer Pricing Associates BV.
All rights reserved.

H.J.E. Wenckebachweg 210
1096 AS Amsterdam
T: +31 20 462 3530
E: info@tpa-global.com
I: www.tpa-global.com