The uncertainty of Brexit opens up new opportunities in Switzerland

As the UK struggles to come to terms its withdrawal from the European Union, Brexit is casting an ominous shadow over international businesses based in Britain.

With the US government failing to provide clear guidelines on what Brexit means for key policies like access to the EU’s single market and restricting immigration for EU workers, businesses are beginning to look to Switzerland as attractive alternative.

The Alpine nation has a stable political relationship with the EU. Although it is not a member state, it is part of the European Economic Community (ECC), and is able to access the world’s largest trading market. Its currency, the Swiss Franc, has been remarkably stable over the past five years, becoming a serious contender to the dollar, the euro and the sterling.

But crucially, it is Switzerland’s business-friendly policy that makes the country so appealing to businesses. Switzerland’s federalist system allows each canton to set their own rate. As a result, many cantons compete with each other, with some offering attractive tax rate for businesses to relocate to.

Additionally local councils also offer grants to businesses which create new jobs in the area. The amount of the grant can vary between CHF5,000 and CHF10,000 for each job created, and some cantons even offer allowances of up to CHF15,000 for the training of local workers.