JULY 25, 2006
Alonso on the move?
Fernando Alonso has laughed off rumours that he is not really going to move to McLaren next year but the Spanish driver is on the move nonetheless. The word on the street in Switzerland is that Fernando Alonso will shortly become a resident of the country. Switzerland offers foreigners who establish their residence in the country the possibility of paying a fixed amount of taxes every year. This amount is usually based on the rental value of the property in which they live and does not require them to declare their worldwide income nor their assets.
The canton of Vaud is well known for this activity and we hear that Alonso has acquired a property in the town of Chateau d'Oex.
Michael Schumacher has lived in the Vaud since 1996 and the region is famous for other residents who come to minimise their tax bills. Over the years these have included Charlie Chaplin, Ernest Hemingway, Audrey Hepburn and Phil Collins. Alain Prost, Sir Jackie Stewart, Jean Alesi and Kimi Raikkonen have all been Swiss residents at one point or another.
Alonso will be close to Bernie Ecclestone's favourite winter resort at Gstaad.
Fernando currently lives in Britain and enjoys fiscal advantages as he is employed by a French company (Renault). Next year, as an employee of a British company McLaren, those would disappear.
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