The billionaire investor, Christian Angermayer left the United Kingdom for Lugano, Switzerland, a city known for its Bitcoin-friendly atmosphere.
He is unhappy with the UK’s new tax proposals for non-domiciled residents. We think he’s not alone with this view.
Angermayer’s tax concerns
Angermayer enjoyed tax benefits that allowed him to avoid paying UK taxes on his overseas income for up to 15 years.
But this changed in March, when the time limit was cut down to just four years.
Now, Prime Minister Keir Starmer’s Labour Party wants to remove inheritance tax breaks on assets held in overseas trusts.
Angermayer expressed his frustration, and voted with his feet. He runs Apeiron Investment Group, which focuses on biotech, cryptocurrency, and psychedelics.
Even though he has moved to Switzerland, his London office will still be open.
“Every non-dom I know has left or is about to leave.”
Lugano lounge
Angermayer spoke at the Token2049 conference in Singapore, discussing how Bitcoin and psychedelics can help people break free from government control and their own egos, and now, he moved to Lugano.
Bitcoin, psychedelics, longevity, and brain-computer interfaces (BCIs) all share a common thread that makes them so appealing to crypto people:
FREEDOM.
Bitcoin: Freedom from the tyranny of government (we’re all libertarians to our core).
Psychedelics: Freedom from the tyranny… pic.twitter.com/CvtVuM0cx0
— Christian Angermayer (@C_Angermayer) August 29, 2024
This small town in Switzerland has about 250 merchants that accept Bitcoin payments, and Tether’s USDt stablecoin is also widely used there.
Lugano since then became one of the largest Bitcoin circular economies after Tether partnered with local authorities in 2022 to make payment systems more crypto-friendly.
The city has even hosted an annual Bitcoin-themed conference called the “Plan ₿ Forum” since 2022. With places like this, who the hell would stay in the UK?
When the cattle grow wings to flying away
As more wealthy individuals like Angermayer choose to relocate due to unfavorable tax policies, it could lead to a visible shift in where crypto investments are concentrated.
With cities like Lugano cheering crypto, we might see more investors flocking to places that offer better conditions for their financial activities.
