More than half a million francs per year – that is how large the difference in wealth tax alone can be, depending on whether someone with CHF 100 million in taxable assets lives in the city of Zurich (approx. CHF 633,000) or in Wollerau (approx. CHF 104,000). Zug lies in between at around CHF 220,000.

The NZZ addressed this calculation on November 9, 2026, in Part 3 of its series “Out of the City.” Two points are important:

1. For large fortunes, wealth tax is often a decisive factor.
2. The tax burden falls short: For many newcomers, it carries just as much weight whether a tax administration is willing to confirm the tax treatment of certain income or assets bindingly in advance.

Thanks to Andrea Martel for the article.

The article, published in the NZZ issue of November 9, 2026, can be found here.