To: FJB who wrote (485951 ) 5/6/2012 3:54:42 PM From: FJB 2 Recommendations Read Replies (1) | Respond to Wealthy French eye move across the Channel By James Pickford, London and South-East Correspondent http://www.ft.com/cms/s/0/278412e6-9538-11e1-8faf-00144feab49a.html Wealthy French people are looking to London as a refuge from fresh taxes on high earners pledged by candidates in the country’s presidential elections . The “soak the rich” rhetoric that has punctuated the presidential campaign has prompted a sharp rise in the numbers weighing a move across the Channel, according to London-based wealth managers, lawyers and property agents specialising in French clients. François Hollande, the Socialist candidate who leads the presidential race after the first round of voting last week, wants to impose a tax rate of 75 per cent on income above €1m and at the launch of his bid in January said: “My true adversary in this battle has no name, no face, no party ... It is the world of finance.” Vestra Wealth I have definitely seen strong interest in what could be done to protect assets both for people resident in France but also for French nationals who are UK resident,” said Mr Blanc, a former UBS executive. says Liam Bailey, head of research at Knight Frank. Mr Blanc says some French clients were even contemplating acquiring British or other nationality in order to safeguard assets from fears that France could move to collect more tax from citizens overseas. “A lot of people are extremely worried,” he said.
