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Switzerland Still Popular Headquarters for Multinationals

Despite the declining competitiveness of its tax code, Switzerland is remaining a major choice among multinationals for locating European operations. After Germany, Switzerland is the most attractive place for companies to set up operations.

According to the study undertaken by Ernst and Young which surveyed the management at over 700 multinationals, Switzerland remains a prime choice when companies decide to relocate their activities.

Switzerland emerged more desirable than France or the United States, according to the study. The rationale behind the choices was chalked up to a stable political environment and a solid and favorable legal environment, as well as quality of life, social climate, and other factors like schools.

Switzerland took a hit, however, on its tax environment, dropping from 4th in 2007 to 11th in 2009. The study asserts that as a consequence of the dilution of banking secrecy, 23% of companies see Switzerland negatively as a potential place to invest, in contrast to 15% in 2007. 50% of companies surveyed planned to invest in Switzerland, against 74% in 2007.

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