* Wealthy renew interest in SwitzerlandSwitzerland is likely to benefit from the crackdown on wealthy foreigners in the UK.
Tougher tax rules for wealthy foreigners in the UK could benefit offshore centres like Switzerland, according to a report in the Financial Times.
Under the new regime in the UK, resident non-domiciled individuals living in the UK will either have to pay tax on their world-wide assets, or pay a £30,000 annual charge to continue with the current remittance system.
The current system allows tax to be paid only on the income and capital gains that is brought into the UK.
The FT report cited various tax experts saying the new regime will deter some wealthy foreigners living in the UK.
Citing one expert from HSBC Private Bank, the report said the £30,000 annual charge could be the start of a much more aggressive approach to taxing wealthy foreigners.