Why do some Formula 1 drivers move to Switzerland?

Question

Michael Schumacher, Fernando Alonso, Kimi Raikkonen and now Lewis Hamilton?

Answer 1

Aloha from Down Unda!
Seems like the kind of money they get would add credence to the taxes thing but also, I'd move to Swizterland if I could afford it because as a driver, the highways there are fabulous! Endless stretches of 100+mile per hour scenic beauty found nowhere else! The mountain bends & steep angles also make for some incredible road trips too. There are long tunnels, passes & all kinds of exceptionallly great views. It's handy to Paris, London & of course, as mentioned, Monte Carlo on the French Coast is fairly spectacular too! The best part of the road trip from Germany to Spain included a 100 miles in one hour straight downhill in Switzerland!
K-den, Best wishes, M1/NSWMoke ;-)
aka: [e-mail] 8-o
aka: Dorfus :O)) Chucklenose :O))
aka: [e-mail] :-)

Answer 2

“You lose your ability to go to places,” he told the BBC, referring to his process of becoming a famous Briton in 2007.

“You really struggle to live a normal life. I’ve not been able to spend a lot of time with my friends, my family.

“I can’t go to the cinema. I go to the bathroom in a petrol station and people come in there for autographs,” Hamilton added.

British newspapers, however, corrected the McLaren driver’s account of why he selected Switzerland for refuge.

“(Swiss) people don’t come up to you. They leave you, they give you your space,” Hamilton said.

He failed to mention that Michael Schumacher, Fernando Alonso, Kimi Raikkonen and Nick Heidfeld live in Switzerland also because of the favourable tax conditions for foreigners who work abroad.

The Times headlined: “Swiss allow rookie to swerve high taxes”.

The Daily Telegraph: “Lewis Hamilton flees Britain’s taxing way of life”.

The Guardian: “Goodbye Hamilton Way as Lewis takes Swiss route”.

The latter is an ironical reference to the fact that, just a day earlier, Hamilton’s home town of Stevenage said it would name a street in his honour.

The Daily Express observed: “Lewis Hamilton has proved his ability at tackling bends but today the formula one star showed that U-turns are his speciality.”

To the German newspaper Bild am Sonntag at the weekend, Hamilton had said: “Higher taxes perhaps interests the management, but not me.”

Answer 3

Well to avoid taxes, and to have their privacy but mostly tax. Who the heck wants half of their earnings spliced by the government when you're making $50 million? Monaco has been a favorite too and some drievrs who aren't English run into England. Alonso has a house there and Rossi lives there too.
MONACO
* Jenson Button resides in the principality of Monaco, and also has properties in the UK and Bahrain.
* Nico Rosberg spent much of his youth in Monaco with his family, and still lives in the Principality.
* Alex Wurz also lives in Monaco.
* David Coulthard has resided for some time in the tax haven principality of Monaco.
* Felipe Massa and (his soon to be wife) fiancee lives in Monaco.
* Giancarl Fisichella and his brood have a spot in Monaco.
SWITZERLAND
* 2007 F1 World Champion Kimi Raikkonen lives in Switzerland with his wife Jenni Dahlman, a Finnish model and former Miss Scandinavia.
* Fernando Alonso owns a house near Lake Geneva in Switzerland but he also has a spot in Oxford, England.
* Lewis Hamilton is making his way to Switzerland in order to be able to use a public restroom without being bothered for an autograph.
* Nick Heidfeld lives in Stafa, Switzerland, with his girlfriend Patricia, daughter Juni and son Joda.
* David Coulthard owns a home in Switzerland, but he also has places in Monaco and London.
BRITAIN
* Anthony Davidson and his wife Carrie reside in Brackley, England.
* David Coulthard owns a place in London, England.
* Jenson Button also owns a place in the UK.
* Fernando Alonso's another who owns a pad in Oxford, England.
* Lewis Hamilton, though, is moving out of his pad in England.
* Takuma Sato resides in Marlow, England.
ITALY
* Jarno Trulli is the co-owner of a vineyard in Italy and produces his own wine.
* Tonio Liuzzi now lives in Pescara, Italy.
UNITED STATES
* New Toro Rosso driver Sebastien Bourdais lives in St. Petersburg, Florida, with his wife Claire and daughter Emma.
GERMANY
* Sebastian Vettel (who's probably still to young to leave home permanently) still stays in Heppenhelm, Germany.
POLAND
* F1's only Polish driver, Robert Kubica, is also the only driver to live in Poland. He stays in the city of Krakow.
FINLAND
* Renault rookie Heikki Kovalainen hasn't moved far from home as he still lives in Suomussalmi, Finland.
BRAZIL
* Rubens Barrichello could stay further away from the F1 action if he tried. The Brazilian still lives in Sao Paulo with his wife and children.

Answer 4

Taxes Taxes Taxes

Answer 5

Tax. Switzerland is tax friendly compared to other countries. Because racing is banned there, you cannot declare yourself a racer. Therefore in this case those F1 drivrs can be considred jobless. And when jobless, you only have to pay a minimal amount of tax. But Switzerland is now aware of this and it soon may not be a haven to drivers anymore

Answer 6

It may have started with John Young Stewart, who realized how much his earnings would be taxed (and wasted by the government) in Britain, when he toiled for (uncle) Ken Tyrrell.

Answer 7

Because the tax charged there is lower than other countries. Racing there is not allowed, so they have to pay less.

Answer 8

Taxes. Some also move to monaco.

Answer 9

Banking laws and tax reasons.

Answer 10

Taxes, and Privacy.. Lots live in Monaco as well...