Rich Flee France

http://www.futureofcapitalism.com/2012/11/rich-flee-france

From an article in the real estate section of today's Wall Street Journal:

A spate of proposed tax hikes is leading hundreds of wealthy French to consider leaving the country and putting their homes on the market, real-estate agents say....Several high-profile businessmen have already packed their bags. Former L'Oréal Chief Executive Lindsay Owen-Jones has taken up residence in Lugano, Switzerland. Belgium now counts Amaury de Sèze, who served as chairman of supermarket giant Carrefour, as a local. Nicolas Chanut, founder of French investment advisory firm Exane, moved to London.

It's only a matter of time before the French react by proposing some Reichsfluchsteuer-style exit tax.

by Editor  |  Nov 23, 2012 at 4:26 pm Related Topics:  Europe, Taxes receive the latest by email: subscribe to the free futureofcapitalism.com mailing list