For retired individuals, in particular, permanently moving to Campione and making it your home base is not a bad idea. There is no reason to remain in a polluted, crime-ridden British or American industrial city, particularly when you can live comfortably even luxuriously in Campione, the most climatically agreeable part of Europe, on just your tax savings alone.
For everyone in the world except Americans, avoiding all income taxes, gift, estate and inheritance taxes and all other taxes involves nothing more than moving yourself and your assets anywhere else in the world and settling in, preferably as a Permanent Traveller, thus escaping the jurisdiction of the local tax collector. If one lives a fairly low-profile life and is willing to cross a border every three months or so, it is not necessary to establish a legal residence or domicile anywhere. For the PT, it may not be desirable to get residence permits tall or have a permanent physical base in a tax haven. If the rules change, they (the tax haven authorities) have you captive on their computer! Perhaps you shouldn’t want any government to know you exist. This is the FT or Permanent Traveller lifestyle discussed in all our publications and explained in full in PT and PT2 – a coherent plan for a stress-free, healthy and prosperous life without government interference, taxes or coercion. Why then should any individual want to make the move to a place like Campione? Is there any reason to be a I registered legal resident?
In our opinion, many people have the psychological need to own (or lease long-term) a non- temporary “home” that they can call their own. They want a permanent roost from which in normal circumstances they will never be forced to move. Because tax or other problems with the easy-going Italian government are non-existent for low profile, non-residents with offshore incomes, Campione is a good bet, for the time-being. It is a fine place to be legally registered and to own property with minimal tax obligations. For consultants, entertainers, writers, or owners of businesses that serve customers outside Campione, Campione is a good fiscal headquarters. As long as you don’t actually become a resident!
For the time being even conspicuous consumption (such as owning a flashy Roils) does not attract unwanted attention or taxes in Campione. In other words, anyone who could use Monaco as a base would find Campione just as good, possibly an improvement The ambience of each is entirely different. Campione is far less crowded. It is quieter, less expensive and less ostentatious. There are advantages and disadvantages to each, depending upon your personal plans and subjective preferences.
Campionese residents always keep their money in nearby Swiss banks. However, Swiss bank accounts are no longer entirely safe from the prying eyes of investigators. In fact, the Swiss, by treaty, will now “give up” the banking details of suspected oiganized crime figures, pomographers and drug dealers.
Italian authorities are attempting to change things in Campione. However, Campione is still a relatively safe and stable tax haven with little more prospect for change than Andorra, Monaco, Cayman, Bermuda or any of the other more popular places. We personally consider it a good venue to have as a home-base, a good place to actually spend time and a better than average location to buy a house or apartment as an investment.
If you are Swiss, Danish or German living in a tax haven you are liable to your home country’s taxes even though you don’t live there. However, by moving to Campione and using your Italian postcode you will have tax haven benefits with a high tax address! If they’re wise to Campione get a maildrop in Italy. Our consultant can arrange this for you.