German billionaire Christian Angermayer, known for facilitating Tether’s entry into Northern Data, has recently relocated from the UK to Switzerland in response to shifts in offshore wealth taxation.
According to Bloomberg reports, Angermayer held a ‘non-dom’ status while residing in the UK, which meant his permanent residence or ‘domicile’ was outside the UK. This status allowed him to evade UK taxes on his global income and investments for as long as 15 years.
However, starting in March, non-doms are now obliged to pay taxes on overseas income after four years, instead of the previous 15. Furthermore, the current UK government is reportedly seeking to eliminate inheritance tax privileges on assets held in overseas trusts.
Consequently, Angermayer expressed to Bloomberg, “The forthcoming modifications to the non-dom regime are a significant blunder.” He described it as “a greater act of national self-sabotage than Brexit,” adding, “Every non-dom I am acquainted with has departed or is on the verge of leaving.”
Recently, it was disclosed that he has facilitated Tether’s engagement in multiple investments, such as Northern Data, in which he possesses a stake. For these referrals, he earned a 5% fee on the resulting transactions. He has also invested in Block.One, a blockchain company established by Tether co-founder Brock Pierce.
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He frequently charges corporate clients for introducing them to potential investors. In addition, he derives income from investments executed by entities associated with his family office, Apeiron Investment Group.
Angermayer is relocating to the city of Lugano, where it is reported that bills can be settled using bitcoin and tether. Lugano has been hosting an annual Bitcoin conference since 2022, organized by Tether.
While residing in the UK, Angermayer was reported to have lived in a luxurious London penthouse adorned with a triceratops skull and various statues of Egyptian deities. He will maintain an office in London.
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