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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, Bloomberg <a data-ct-non-breakable="null" href="https://www.bnnbloomberg.ca/business/company-news/2024/09/27/investor-christian-angermayer-quits-uk-for-swiss-crypto-hub/" rel="noopener noreferrer nofollow" target="null" text="null" title="https://www.bnnbloomberg.ca/business/company-news/2024/09/27/investor-christian-angermayer-quits-uk-for-swiss-crypto-hub/">reported</a> on Sept. 27.
However, that was reduced to 4 years in March 2024 and now Prime Minister Keir Starmer’s Labour Party wants to eliminate inheritance tax breaks on assets held in overseas trusts.
“The planned changes to the non-dom framework are a huge mistake,” said Angermayer, claiming it would be “a bigger act of national self-harm than Brexit.”
<blockquote>
 “Every non-dom I know has left or is about to leave.”
</blockquote>
Angermayer runs a family office and asset management business, Apeiron Investment Group, which invests mostly in the biotech, cryptocurrency and psychedelics industries.&nbsp;
Apeiron’s London office will remain open despite Angermayer’s departure.&nbsp;
Angermayer recently spoke at the <a data-ct-non-breakable="null" href="https://cointelegraph.com/tags/token2049" rel="noopener noreferrer nofollow" target="null" text="null" title="https://cointelegraph.com/tags/token2049">Token2049 conference</a> about how Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow" target="null" text="null" title="https://cointelegraph.com/bitcoin-price">BTC</a>) and psychedelics share a common link by freeing people from their governments and egos, respectively. 
<figure><img alt="Billionaire Bitcoiner slams UK tax system, leaves for Swiss Bitcoin city: Report" name="" src="https://s3.cointelegraph.com/uploads/2024-09/01923b9a-46d6-74cc-ab5a-60261dbe5464">
 <figcaption style="text-align: center;">
 Source: <a data-ct-non-breakable="null" href="https://x.com/C_Angermayer/status/1829156960094023939" rel="noopener noreferrer nofollow" target="null" text="null" title="https://x.com/C_Angermayer/status/1829156960094023939">Christian Angermayer</a>
 </figcaption>
</figure>
The Bitcoin and blockchain investor made the tax-motivated move to Lugano this month.&nbsp;
In Lugano — a small town in the Italian-speaking region of Switzerland — roughly 250 merchants accept Bitcoin payments, <a data-ct-non-breakable="null" href="https://btcmap.org/map#10/45.96642/8.91961" rel="noopener noreferrer nofollow" target="null" text="null" title="https://btcmap.org/map#10/45.96642/8.91961">according</a> to BTC Map. The Tether (<a data-ct-non-breakable="null" href="https://cointelegraph.com/tether-price-index" rel="noopener noreferrer nofollow" target="null" text="null" title="https://cointelegraph.com/tether-price-index">USDT</a>) stablecoin is also widely accepted.
The city has become one of the largest <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/colombian-bitcoiner-orange-pills-coffee-lovers" rel="noopener noreferrer nofollow" target="null" text="null" title="https://cointelegraph.com/news/colombian-bitcoiner-orange-pills-coffee-lovers">Bitcoin circular economies</a> since stablecoin issuer Tether partnered with local authorities in 2022 to make its payment systems <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/inside-lugano-crypto-revolution-documentary" rel="noopener noreferrer nofollow" target="null" text="null" title="https://cointelegraph.com/news/inside-lugano-crypto-revolution-documentary">more crypto-friendly.</a>
Lugano has also hosted the Bitcoin-themed conference “Plan ₿ Forum” annually since 2022.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-millionaires-surge-111-in-year-amid-crypto-rally" rel="noopener noreferrer nofollow" target="null" text="null" title="https://cointelegraph.com/news/bitcoin-millionaires-surge-111-in-year-amid-crypto-rally">Bitcoin millionaires surge 111% in a year amid crypto rally</a>
In addition to Bitcoin, Angermayer invests in crypto-focused Samara Asset Group and Bitcoin miner Northern Data AG.
Angermayer <a data-ct-non-breakable="null" href="https://www.wsj.com/finance/currencies/tether-cryptocurrency-ai-business-394271db" rel="noopener noreferrer nofollow" target="null" text="null" title="https://www.wsj.com/finance/currencies/tether-cryptocurrency-ai-business-394271db">reportedly</a> introduced <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/tether-usdt-610-million-debt-northern-data" rel="noopener noreferrer nofollow" target="null" text="null" title="https://cointelegraph.com/news/tether-usdt-610-million-debt-northern-data">Tether to Northern Data</a> before the stablecoin firm took a significant stake in the business in 2023.
Angermayer is also one of the founders of Enhanced Games — an alternative competition to the Olympics where performance-enhancing drugs are encouraged. The venture has been backed by <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-future-price-wont-dramatically-increase-says-peter-thiel" rel="noopener noreferrer nofollow" target="null" text="null" title="https://cointelegraph.com/news/bitcoin-future-price-wont-dramatically-increase-says-peter-thiel">former PayPal CEO Peter Thiel.</a>
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/wolf-of-all-streets-world-bitcoin-hits-1m-1-million-hall-of-flame/" rel="noopener noreferrer nofollow" target="null" text="null" title="https://cointelegraph.com/magazine/wolf-of-all-streets-world-bitcoin-hits-1m-1-million-hall-of-flame/">Wolf Of All Streets worries about a world where Bitcoin hits $1M: Hall of Flame</a>

Billionaire Bitcoiner slams UK tax system, leaves for Swiss Bitcoin city: Report

Cointelegraph

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