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What the client thought the environment of people consideration when inves-
would take a couple of minu- and to understand where they ting. We do provide solutions
tes may, in fact, take an hour. are in their life cycles. For for every specific situation.
Quite a number of internatio- instance, people often come
about
What
nals are being paid, in US to see us regarding invest- Q:
dollars, and then there is a ments and they tell us: "I inheritance? Somebody
correlation between their have read in the newspapers told me recently that in
place of residence and the that the stock exchange is Geneva you do not have to
amount paid out. The third always going higher and I pay taxes on inheritance?
point: generally speaking, would like to buy shares."
retirement revenue is less Some financial advisor In Switzerland, with its
than that earned today. The would, of course, say "yes, twenty-six different cantons,
fourth point is that taxation sign here!" and everything is each canton decides on its
will also enter the overall over in five minutes. Once level of taxation, including
picture, including the fact again, we do not proceed in inheritance. Since we are tal-
that the retirement age in the this way. UBS is not a simple king about Geneva, it's true
UN organizations is 62 or seller of products. that the surviving spouse and
less, whereas the Swiss reti- the direct heirs do not pay
rement age is 65 (for those We take into account the spe- taxes on inheritance.
living in Switzerland). On all cificity of each client. Take
these aspects we are able to the matter of taxation, for Q: If! were to stay here for
give a couple of years before
advice.
useful
instance -- a very complex
Therefore, I would say that if and difficult matter. It applies being transferred some-
you have not already had the to a certain category of civil where else, is it possible to
time to make plans earlier, servants, but the situation keep my account here and
try to come and see us as today may not be the case to receive advice?
soon as possible so that we tomorrow. For instance, the
can at least help you with the European taxation laws Of course! The bank is very
planning. affect a specific category of pleased to serve its custo-
international civil servants mers. Due to the fact that
In fact the best advice is: and there is some specific UBS is a global bank with
"Come and see us"! advice to be given. The different distribution chan-
whole thing is rather compli- nels, it's possible to keep in
Q: So when and how cated. touch with your advisors.
should one start to prepare Among these channels is e-
for retirement? So many things can impact banking, which also enables
your revenues when reaching internationals to keep in
One should tackle the ques- retirement that again the touch. It's true that we have
tion the sooner the better. sooner you start thinking lots of e-banking users and
about it the better it is. among them an impressive
It's obvious that the whole number of internationals.
financial concept is about Q: You mentioned Our international presence
adapting it to life cycles, and European taxation -- can allows also being visible
that it's about the same for all you tell us more about it? worldwide and can serve in
people. There may be some some cases.
differences, but globally The EU savings taxation is a
most people go through the legislation which the EU Q:
there
Is
a
same phases. We have solu- member states introduced on private banking service for
tions that match all of these Internationals? Could you
E different aspects. July 2005 with the aim of
0 ensuring the taxation of cross tell us what you offer in
border interest payments
particular to these clients?
r While we can give these made to individual residents
. types of advice, you should in the EU. We offer services to
C.) have an idea of where you different levels of fortune,
would like to be in five or ten
ranking from the employee
Ui year's time. We need to know European taxes like any who gets his monthly salary
taxes have to be taken into
20 3 2007 Diva

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