TechFlow news — On September 27, according to Bloomberg, German billionaire and investor in cryptocurrency and biotechnology, Christian Angermayer, has relocated from London to Lugano, Switzerland, a hub for cryptocurrency. The move comes as the UK plans to increase taxes on overseas wealth held by affluent residents. In Lugano, individuals and businesses can settle bills using Bitcoin or the Tether stablecoin.
The 46-year-old Angermayer previously resided in the UK for ten years under non-domiciled status, which allowed him to avoid taxes on foreign income and gains for up to 15 years. He said: "Everyone I know who isn't a British citizen has either already left or is about to leave."
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