A high-profile billionaire Bitcoiner has escaped the UK’s upcoming tax changes, opting to settle in Lugano, Switzerland, a Bitcoin-friendly town. The UK’s tighter tax rules on offshore assets have pushed many top investors to leave the country.

Christian Angermayer, a billionaire investor, allegedly fled to Lugano, Switzerland, the Bitcoin capital of the world, in response to the UK government's intentions to increase taxes on offshore assets.

Billionaire Bitcoiner Leaves UK Amid Tax Crackdown

According to Bloomberg's article from September 27, the German-born Angermayer was able to evade UK taxes on his abroad income and earnings for a period of up to fifteen years while he was a "non-dom" resident in the UK.

The Labour Party of Prime Minister Keir Starmer now seeks to do away with inheritance tax exemptions for assets held in foreign trusts, and that was cut to four years in March 2024.

UK Tax Reform Pushes High-Profile Investors to Exit

Noting that it would be "a bigger act of national self-harm than Brexit," Angermayer said, "The planned changes to the non-dom framework are a huge mistake."

“Every non-dom I know has left or is about to leave.”

Apeiron Investment Group, Angermayer's family office and asset management firm, primarily invests in the cannabis, crypto, and biotech sectors.

Apeiron’s UK Office Continues Operations

The London office of Apeiron will continue to operate even after Angermayer leaves.

Psychedelics and Bitcoin, according to Angermayer's recent speech at the Token2049 conference in Singapore, both help people break free of their egos and governments, as reported by Cointelegraph.

Lugano Emerges as a Bitcoin-Friendly Hub

The Bitcoin and blockchain investor relocated to Lugano in September for tax reasons.

The little town of Lugano is located in an Italian-speaking region of Switzerland. BTC Map reports that approximately 250 merchants in the town accept Bitcoin as payment. Another popular stablecoin is Tether's USDt.

Partnership with Tether Boosts Lugano’s Crypto Economy

In 2022, the city's payment systems were made more crypto-friendly through a partnership between municipal officials and stablecoin issuer Tether. As a result, the city became one of the largest Bitcoin circular economies.

Since 2022, Lugano has also been the site of the annual "Plan ₿ Forum" conference with a Bitcoin focus.

Billionaire Bitcoiner’s Ties to Bitcoin and Tether

Angermayer is a Bitcoin investor and also has shares in Northern Data AG, a Bitcoin mine, and the crypto-focused Samara Asset Group.

Northern Data, a stablecoin corporation, allegedly acquired a substantial position in Tether in 2023 after Angermayer introduced the two companies.