BILLIONAIRE BITCOINER SLAMS UK TAX SYSTEM, LEAVES FOR SWISS BITCOIN CITY: REPORT

Last updated: June 19, 2025, 21:29 | Written by: Charlie Lee

The allure of cryptocurrency, particularly Bitcoin, has transcended mere investment; it's now shaping lifestyles and prompting significant financial decisions for high-net-worth individuals. Trusted News Discovery Since 2025. Global Edition. Sunday, SeptemA recent report highlights this trend, detailing how billionaire investor Christian Angermayer has reportedly left the United Kingdom for the crypto-friendly embrace of Lugano, Switzerland, a city rapidly gaining recognition as a Bitcoin hub. Billionaire investor Christian Angermayer has reportedly left the United Kingdom for Switzerland s Bitcoin hub, Lugano, citing the UK s plans to raise taxes on offshore wealth.The German-born Angermayer was considered a non-dom while living in the UK, which allowed him to avoid UK taxes on overseAngermayer's departure isn't merely a lifestyle change; it's a direct response to the UK's proposed tax increases on offshore wealth, a move he vehemently criticizes. تنبيه بارتفاع سعر البيتكوين. 74 ألف دولار وأعلى مستوياته التاريخية الجديدة على بعد أسابيع فقطHis move underscores a growing sentiment among affluent crypto holders who are re-evaluating their residency based on favorable tax policies and regulatory environments. Billionaire Bitcoiner slams UK tax system, leaves for Swiss Bitcoin city: Report . Bitcoiner Christian Angermayer claimed the United Kingdom s latest tax proposal for non-doms would be a huge mistake and be a bigger act of national self-harm than Brexit. 625 Total views 25 Total shares Listen to articleThe situation raises critical questions about the UK's fiscal strategy and its potential impact on attracting and retaining wealthy individuals in the digital age. Bitcoiner Christian Angermayer claimed the United Kingdom s latest tax proposal for non-doms would be a huge mistake and be a bigger act of national Billionaire Bitcoiner slams UK tax system, leaves for Swiss Bitcoin city: Report - AlphavicThis isn’t just about one person’s decision; it signals a potential exodus if governments don’t adapt to the decentralized nature of crypto wealth. Bitcoin holder and billionaire investor Christian Angermayer left the UK for a cryptocurrency center in Switzerland because of Britain's plan to increase taxes on the offshore wealth of high-net-worth residents.Is the UK making a mistake by alienating a growing segment of its wealthy residents?And what does this mean for the future of Bitcoin adoption and regulation globally?

Christian Angermayer's Departure: A Tax-Driven Decision

The core reason behind Angermayer's move is the UK's proposed changes to its tax laws, specifically targeting non-domiciled residents (non-doms) and their offshore wealth.Angermayer, being German-born, had previously benefitted from the UK's non-dom status, allowing him to avoid UK taxes on income and earnings generated overseas.This status can be held for up to 15 years, offering a significant financial advantage to those who qualify.

However, the UK government's intention to increase taxes on offshore wealth has triggered concerns among non-doms, with Angermayer being one of the first prominent figures to publicly express his dissatisfaction and take tangible action.This situation brings to light a critical debate about the balance between fair taxation and maintaining a competitive environment that attracts and retains wealthy individuals who contribute significantly to the economy.

""Bigger Than Brexit"": Angermayer's Stark Warning

Angermayer didn’t mince words when describing the potential consequences of the UK's tax policy changes. Billionaire investor Christian Angermayer has reportedly left the United Kingdom for Switzerland s Bitcoin hub, Lugano, citing the UK s plans to raise taxes on offshore wealth. The German-born AngermHe stated that the new proposals for non-doms would be ""a huge mistake"" and even went as far as to label it ""a bigger act of national self-harm than Brexit."" This strong statement emphasizes the gravity of the situation and the potential long-term impact on the UK's economy.

His argument suggests that by increasing taxes on offshore wealth, the UK risks deterring wealthy individuals from investing in the country, potentially leading to a decline in economic activity and tax revenue.The comparison to Brexit further underscores his belief that this policy change could have far-reaching and negative consequences.

Lugano: A Growing Crypto Hub in Switzerland

Angermayer's chosen destination, Lugano, Switzerland, is not a random pick.The city has been actively positioning itself as a leading crypto hub, attracting businesses and individuals involved in the digital asset space. Billionaire investor Christian Angermayer has reportedly left the United Kingdom for Switzerland s Bitcoin hub, Lugano, citing the UK s plans to raise taxes on offshore wealth. The German-born Angermayer was considered a non-dom while living in the UK which allowed him to avoid UK taxes on overseas income and earnings for up to 15Lugano's pro-crypto stance is evident in several initiatives:

Bitcoin as Legal Tender: Lugano has effectively made Bitcoin legal tender within its jurisdiction, allowing residents and businesses to use it for various transactions.
Crypto-Friendly Regulations: The city has implemented regulations that are favorable to crypto businesses, creating a welcoming environment for innovation and growth.
Partnerships with Crypto Companies: Lugano has actively partnered with leading crypto companies to develop its crypto infrastructure and ecosystem.

This commitment to cryptocurrency makes Lugano an attractive destination for individuals like Angermayer, who seek a jurisdiction that embraces and supports digital assets.

Understanding the UK's Non-Dom Tax Regime

To fully grasp the implications of Angermayer's departure, it's crucial to understand the UK's non-dom tax regime.A non-domiciled resident is an individual who lives in the UK but whose permanent home (domicile) is considered to be in another country.Key features of this regime include:

Remittance Basis of Taxation: Non-doms can choose to be taxed only on income and gains that they bring (remit) into the UK. Bitcoin Bullish signal makes this prediction about BTC s price rally!This means that income and gains earned outside the UK are not subject to UK tax unless they are brought into the country.
Annual Charge: Non-doms who have been resident in the UK for a certain number of years (typically 7 out of the last 9 tax years) are required to pay an annual charge to claim the remittance basis. Bitcoiner Christian Angermayer claimed the United Kingdom s latest tax proposal for non-doms would be a huge mistake and be a bigger act of nationaThis charge increases with the number of years of residency.
Deemed Domicile: After a certain period of residency (typically 15 years), non-doms are deemed to be domiciled in the UK for tax purposes, meaning they are subject to UK tax on their worldwide income and gains, regardless of whether they are remitted to the UK.

The proposed changes to this regime aim to limit the benefits of non-dom status, potentially leading to higher tax liabilities for individuals like Angermayer.

The Impact on the UK's Tax Revenue and Economy

The departure of wealthy individuals like Angermayer raises concerns about the potential impact on the UK's tax revenue and economy.While the exact financial contribution of non-doms is difficult to quantify, it is widely acknowledged that they contribute significantly to the UK economy through various channels, including:

Income Tax: Non-doms pay income tax on earnings generated within the UK.
Capital Gains Tax: They pay capital gains tax on profits made from selling assets located in the UK.
Investment and Entrepreneurship: Non-doms often invest in UK businesses and start their own ventures, creating jobs and stimulating economic growth.
Spending: Their spending on goods and services contributes to the UK economy.

If a significant number of non-doms choose to leave the UK in response to the tax changes, it could lead to a decline in tax revenue, investment, and economic activity.

Tax Competition: A Global Phenomenon

Angermayer's move highlights the growing trend of tax competition between countries.As governments seek to attract and retain wealthy individuals and businesses, they often compete by offering favorable tax policies and regulatory environments.This competition can lead to a ""race to the bottom,"" where countries lower their tax rates and weaken their regulations in an effort to attract capital.

Switzerland, with its low tax rates, strong financial infrastructure, and pro-crypto stance, has long been a popular destination for wealthy individuals seeking to minimize their tax liabilities.Other countries, such as Singapore and Malta, are also actively competing to attract crypto businesses and investors.

The Future of Crypto Taxation: Navigating Uncertainty

The taxation of cryptocurrency remains a complex and evolving area. Billionaire investor Christian Angermayer has reportedly left the United Kingdom for Switzerland s Bitcoin hub, Lugano, citing the UK s plans to raise taxes on offshore wealth.The German-born Angermayer was considered a non-dom while living in the UK which allowed him to avoid UK taxes on overseas income and earnings for up to 15Governments around the world are grappling with how to regulate and tax digital assets, and there is a lack of international consensus on the best approach. Billionaire investor Christian Angermayer has reportedly left the United Kingdom for Switzerland s Bitcoin hub, Lugano, citing the UK s plans to raise taxes on offshore wealth.The German-born Angermayer was considered a non-dom while living in the UK which allowed him to avoid UK taxes on overseas income and earnings forThis uncertainty can create challenges for crypto investors, who may face varying tax rules depending on their country of residence.

Some of the key challenges in crypto taxation include:

Valuation: Determining the fair market value of cryptocurrencies can be difficult, especially given their price volatility.
Tracking Transactions: Tracking crypto transactions can be challenging, particularly when individuals use multiple wallets or exchanges.
Cross-Border Issues: Crypto transactions often involve multiple jurisdictions, making it difficult to determine which country has the right to tax the transaction.

What are the tax implications of owning Bitcoin?

The tax implications of owning Bitcoin (or any cryptocurrency) vary greatly depending on your country of residence.However, some general principles apply:

Capital Gains Tax: In many countries, Bitcoin is treated as property, and any profit you make from selling or trading it is subject to capital gains tax. Billionaire investor Christian Angermayer has reportedly left the United Kingdom for Switzerland s Bitcoin hub, Lugano, citing the UK s plans to raise taxes on offshore wealth.The German-born Angermayer was considered a non-dom while living in the UK which allowed him to avoid UK taxes on overseas income and earnings for up to 15 years, BloombergThe rate of capital gains tax can vary depending on your income and the length of time you held the Bitcoin.
Income Tax: If you receive Bitcoin as payment for goods or services, the value of the Bitcoin is typically considered taxable income.You will need to report this income on your tax return.
Mining: If you mine Bitcoin, the value of the Bitcoin you mine is typically considered taxable income.You may also be able to deduct expenses related to your mining activities.
Staking: If you stake Bitcoin and receive rewards, the value of the rewards is typically considered taxable income.

It is essential to consult with a tax professional to understand the specific tax rules in your country of residence.

What are Bitcoin cities and why are they attractive?

Bitcoin cities are municipalities or regions that have adopted a pro-Bitcoin stance, often integrating Bitcoin into their local economies and regulatory frameworks.These cities are attractive for several reasons:

Lower Taxes: Some Bitcoin cities offer lower tax rates or more favorable tax treatment for Bitcoin-related activities.
Regulatory Clarity: These cities often provide greater regulatory clarity for Bitcoin businesses, making it easier for them to operate.
Pro-Innovation Environment: Bitcoin cities tend to foster a pro-innovation environment, attracting talented individuals and businesses in the crypto space.
Growing Bitcoin Ecosystem: As Bitcoin adoption increases in these cities, a vibrant ecosystem of Bitcoin-related businesses and services emerges, creating opportunities for growth and collaboration.
Access to Talent: Because these cities are magnets for innovation, they are excellent places to find talent in the crypto space.

The Role of Switzerland in the Crypto World

Switzerland has long been a prominent player in the global financial industry, known for its stability, neutrality, and strong regulatory framework.In recent years, Switzerland has also emerged as a leading hub for cryptocurrency and blockchain technology.

Several factors contribute to Switzerland's appeal to the crypto community:

Favorable Regulatory Environment: Switzerland has established a clear and comprehensive regulatory framework for cryptocurrencies, providing legal certainty for businesses operating in the space.
Pro-Innovation Culture: The Swiss government and regulators have adopted a pro-innovation approach to cryptocurrency, encouraging experimentation and development.
Strong Financial Infrastructure: Switzerland boasts a well-established financial infrastructure, including banks, exchanges, and other financial institutions that support the crypto industry.
Political Stability: Switzerland's political stability and strong rule of law provide a safe and secure environment for businesses and investors.

The ""Crypto Valley"" in Zug, Switzerland, has become a global center for blockchain innovation, attracting startups, established companies, and investors from around the world.

Preparing for the Future of Cryptocurrency Taxation

Given the evolving nature of cryptocurrency taxation, it is essential for individuals and businesses to stay informed and prepared.Here are some practical steps you can take:

Keep Accurate Records: Maintain detailed records of all your crypto transactions, including the date, time, amount, and value of each transaction.
Consult with a Tax Professional: Seek advice from a tax professional who specializes in cryptocurrency taxation.
Stay Up-to-Date on Tax Laws: Monitor changes in tax laws and regulations related to cryptocurrency in your country of residence.
Use Tax Software: Consider using tax software designed specifically for cryptocurrency transactions to simplify the reporting process.
Diversify Your Holdings: Consider diversifying your crypto holdings to mitigate tax risks.

Actionable Advice for Crypto Holders

As a crypto holder, you can take several steps to manage your tax obligations and make informed decisions:

Track All Transactions: Use a crypto portfolio tracker or spreadsheet to record every transaction.Include dates, amounts, prices, and the purpose of each transaction. Billionaire Bitcoiner slams UK tax system, leaves for Swiss Bitcoin city: Report cointelegraph.comThis detailed record-keeping is crucial for accurate tax reporting.
Understand Your Country's Regulations: Research and understand the specific tax regulations regarding cryptocurrency in your country.Consult with a tax advisor who specializes in crypto to ensure compliance.
Consider Tax-Advantaged Accounts: Explore options for holding cryptocurrency in tax-advantaged accounts, if available in your jurisdiction.
Plan for Capital Gains: Be aware of potential capital gains taxes when selling or trading cryptocurrency.Consider strategies to minimize these taxes, such as tax-loss harvesting.
Stay Informed: Keep up-to-date with changes in cryptocurrency tax laws and regulations, as they can evolve rapidly.

Conclusion: A Wake-Up Call for Policymakers

Christian Angermayer's departure from the UK serves as a stark reminder of the growing importance of tax competitiveness in the global economy.As cryptocurrency becomes increasingly mainstream, governments need to adapt their tax policies to attract and retain wealthy individuals and businesses involved in the digital asset space. BTCUSD Bitcoin Billionaire Bitcoiner slams UK tax system, leaves for Swiss Bitcoin city: Report. Bitcoiner Christian Angermayer claimed the United Kingdom's latestThe UK's proposed tax changes have sparked concerns among non-doms, and Angermayer's move may be a sign of things to come.The allure of crypto-friendly jurisdictions like Lugano, Switzerland, could lead to a significant outflow of capital and talent from countries that fail to embrace the digital revolution.

The key takeaways are clear: governments need to strike a balance between fair taxation and creating a welcoming environment for crypto innovation.Failure to do so could result in a loss of tax revenue, investment, and economic activity. Billionaire Bitcoiner slams UK tax system, leaves for Swiss Bitcoin city: Report By admin Septem Bitcoin Christian Angermayer claimed the United Kingdom s latest tax proposal for non-doms would be a huge mistake and be a bigger act of national self-harm than Brexit.It's a wake-up call for policymakers to carefully consider the long-term consequences of their tax policies and to engage in a constructive dialogue with the crypto community.If the UK wants to remain a global economic powerhouse, it needs to adapt to the realities of the digital age.It’s no longer just about attracting traditional wealth; it’s about embracing the future of finance.

What will you do to prepare for the ever-changing landscape of crypto taxation and regulation?Start researching your local laws and seek expert advice today!