Geneva is a very wealthy city in Switzerland that serves as a financial hub and a home to many wealthy individuals and family offices. Wealthy individuals and businesses often move to Geneva because it is in the heart of Europe and it also has a very friendly tax environment for both individuals and businesses.
The following free Guide to Geneva Family Offices will help you better understand the Geneva family office and provide you with resources to learn more about Geneva. You should also check out our 100% free book on family offices.
Introduction to Geneva, Switzerland
Geneva is second only to Zurich in Switzerland. The financial community is already well-acquainted with Switzerland: it is a popular tourist destination (thanks to its beautiful countryside and conventient location), known as a safe and friendly country, and many business professionals either do business in the country or attend the many business and finance conferences held in Switzerland. Perhaps the best description of Switzerland is that it is highly stable: in terms of its currency, economy, government and regulations.
Geneva has become a very popular destination for financial professionals since the financial crisis because the country has not introduced the type of strict regulations on alternative investments like hedge funds and private equity that other countries have. Also, as many countries are strapped for cash and looking for ways to raise revenue they have imposed higher taxes on the wealthy as well as investment funds and large businesses. This has made Switzerland a comparatively better choice for many businesses and wealthy individuals and families.
Switzerland is not a member of the European Union and therefore is not required to impose the regulations of the financial industry that were passed by that organization. Additionally, Switzerland seems to have weather the financial crisis better than some other countries and it maintains a very tax friendly environment. All of this makes Geneva an attractive destination for the exceptionally wealthy.
Family Offices in Geneva
Geneva, and more broadly, Switzerland, is one of the most popular destinations for family offices because of the huge concentration of wealth and the stellar reputation of Swiss banks and financial institutions. The low taxes make it an exceptional place to do business and for wealthy individuals and families to live. Many family offices make it easy for families to relocate to Switzerland, helping families purchase real estate in the country and even finding an international school for the children.
There are certainly a high number of family offices in Switzerland, especially given the country’s size and population. However, it’s hard to determine the exact number because few Swiss family offices are publicly listed. As Daniel Martineau of Switzerland’s Close Trustees SA notes, “It is impossible to say how many family offices there are in Switzerland. Understandably, they don’t want to be listed in the telephone book under ‘family offices’ but rather are usually discretely described as an investment office or have an obscure name which tells nothing to the outside world. Anecdotally however, there are hundreds of private investment offices located there.” A conservative estimate of family offices in Switzerland would be around 100, but it could be much higher as many Swiss banks and wealth management firms also provide family office services or include family offices.
Geneva Family Office Resources Guide
Geneva Family Office Resource #1: If you are looking for work for a Swiss family office, you should take a look at this career article titled “Top 3 Things about Swiss Family Office Jobs.”
Geneva Family Office Resource #2: If you are looking for contact details of family offices places such as Switzerland you may want to consider using a Family Offices Database. A Family Office Database provides you with the complete contact details for 100′s or sometimes even up to 1,000 global single and multi-family offices within an easy to use Excel spreadsheet format. Learn more about this by clicking here.
Geneva Family Office Resource #3: This article talks about how a Geneva-based multi-family office has made two senior hires.
Geneva Family Office Resource #4: This family office guide is one we have put together as a collection of resources on Switzerland.
Geneva Family Office Resource #5: Here is a Swiss family office study sponsored by Close Trustee’s Switzerland and Hakan Hillerstrom, independent family business advisor. You may have to e-mail the authors to get access to the report, however.
Geneva Family Office Resource #6: If you would like to purchase a report by Research and Markets on Private Banks and Family Offices in Switzerland, click here for information on buying the resource (scroll to the bottom of the article).
Geneva Family Office Resource #7: You can find a great journal article here that provides several reasons for locating the family office in Switzerland with an especially strong focus on the country’s benign tax environment.
Geneva Family Office Resource #8: UNIKOM Family Office provides a helpful report on family offices in Switzerland. Although a large portion of the report is simply a pitch to work with the firm, there is also some good information on Swiss family offices.
Geneva Family Office Resource #9: Wikipedia has a good list of family offices in Switzerland if you are looking for a good place to start; however there aren’t any contact details for the family offices.
Are you an employee or manager of a family office in Geneva? Then we’d like to keep in touch with you. Simply send us an email at Richard@RichardWilsonCapital.com