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FOSSUK: Swiss cross-border Estate Planning 10 September 2015 Page 2/8
Swiss Cross-Border Estates Principles
Switzerland
Basis 1 law to governs entire estate
Connecting factor Domicile in the civil sense
Law governing the estate As per the conflict rules of the country of the deceased’s last domicile
Specific international treaties 5 (old) treaties, including 1 with UK
Recognition of foreign acts… Very liberal
…especially of foreign wills Party to the 1961 Hague Convention on the Conflict of Laws relating to the Form of Testamentary Dispositions
EU Succession Regulation’s impact on CH-UK matters?
None as:UK opted out (§82)Intl treaties remain in force (§73)
FOSSUK: Swiss cross-border Estate Planning 10 September 2015 Page 3/8
When Swiss Succession Law applies
Switzerland
Matrimonial regime To be liquidated before one can handle the estate!
Forced heirship regime Yes
… but not part of Swiss public policy
… and limits thereto:
1. Opt-out / professio juris Possible, in favour of one’s law of citizenship(s)
2. Succession pact Possible, among forced heirs
FOSSUK: Swiss cross-border Estate Planning 10 September 2015 Page 4/8
Swiss Inheritance Taxation
IHT Levied at the cantonal level only(Federal 20% initiative rejected in ‘15!)
Scope of application 1. Deceased domiciled in Switz.2. Real estate situated in Switz.
Tax-free allowances Yes, varies per canton
Progressive rates Yes, varies per canton:0-15% for spouse & descendants20-50% for third parties
Additional tax benefits? Yes, if CH resident on the forfait / lump-sum tax basis
FOSSUK: Swiss cross-border Estate Planning 10 September 2015 Page 5/8
Double Death Tax Treaties
Swiss network Austria, Denmark, Finland, Germany, Netherlands, Sweden, UK, United States of America
EU Succession Regulation’s impact on CH-UK matters?
No, as taxation out of scope (§10)
FOSSUK: Swiss cross-border Estate Planning 10 September 2015 Page 6/8
Double Death Tax TreatiesSwiss-UK Procedure for Movable Assets
FOSSUK: Swiss cross-border Estate Planning 10 September 2015 Page 7/8
PensionsSwiss-UK overview
> Free Movement of Persons Agreement CH-EU of 1999> Effect of 9th February 2014 vote?
> Coordination of the social security systems (art.8 ACT and Appendix II)> “The coordination rules must guarantee that persons moving within the
Community and their dependants and survivors retain the rights and the
advantages acquired and in the course of being acquired.” (§13 EC
Regulation 883/2004)
> CH->UK: Restriction to the cash payment from the Swiss pension fund if one
continues to be compulsorily insured against the risks of old age, death and
disability in another EC country (art. 25f LFLP)
> UK->CH: CERN Pension Fund recognised as QROPS
FOSSUK: Swiss cross-border Estate Planning 10 September 2015 Page 8/8
David Wilson
david.wilson@swlegal.ch
Schellenberg Wittmer Ltd / Attorneys at Law
15bis, rue des Alpes / P.O. Box 2088 / 1211 Geneva 1 / Switzerland
T +41 22 707 8000 / F +41 22 707 8001
www.swlegal.ch
Thank you for your attention.
GENEVA / ZURICH / SINGAPORE
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