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The Latest Evader Of The French Millionaire Tax: The Former French President


zerohedge.com / By Tyler Durden / January 22, 2013, 15:39

That even former French president Nicolas Sarakozy plans to start a £1 billion private equity fund in London is not news: courtesy of ZIRP and the ongoing global reliquifiication of markets by every central bank as currency warfare goes ballistic, one would have to be seriously unlucky to chase the central planner inflated beta rally and not succeed (one would also have to be very unaware of the difference between nominal and real returns, but since that is most people these days, let’s ignore that). What is news, is that as part of said transfer to the “asset management business” it is none other than the former French president who is next in line to evade Hollande’s millionaire tax by crossing the Channel, and “redomiciling” himself in London.

From The Mail:

Nicolas Sarkozy is preparing to move to London to set up a billion pounds plus investment fund, it was claimed today.

If the move goes ahead, the controversial Frenchman will become the latest to escape a potential top tax rate of 75 per cent in his home country.

He and his former supermodel third wife Carla Bruni-Sarkozy would be likely to settle in an affluent district like South Kensington – so becoming the most high profile Gallic celebrity couple in the city.

However, unlike Obelix, Sarko has other motives to expatriate than just avoiding the direct consequences of his socialist successor’s “fairness doctrine” digging deep into his pocket.

READ MORE

Sarkozy, Under Investigation in France for Fraud, Plans to “Dodge New 75% French Tax Rate by Moving to London and Setting Up £1bn Private Equity Fund”

globaleconomicanalysis.blogspot.com / By Mike “Mish” Shedlock / Tuesday, January 22, 2013 4:05 PM

To the victor, belongs the spoils.

Had former French president Nicolas Sarkozy won reelection, he certainly would not be under investigation for illegally funding his campaign, nor there would be an investigation regarding his involvement in fraudulent arms sales to Pakistan.

Perhaps Sarkozy wants to escape such charges, or perhaps he wants to move for tax reasons, but regardless of why, the latest political scandal is Sarkozy’s plans ‘to dodge new 75% French tax rate by moving to London with wife Carla and setting up £1bn private equity fund’

 Nicolas Sarkozy is preparing to move to London to set up a billion pounds plus investment fund, it was claimed today.

If the move goes ahead, the controversial Frenchman will become the latest to escape a potential top tax rate of 75 per cent in his home country.

He and his former supermodel third wife Carla Bruni-Sarkozy would be likely to settle in an affluent district like South Kensington – so becoming the most high profile Gallic celebrity couple in the city.

READ MORE

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