New Delhi: India will get this month the third set of Swiss bank account details of its nationals under an information pact with Switzerland and this will include for the first time the data about real estate properties owned by Indians there, officials said on Sunday.
The dossier will contain complete information on flats, apartments and condominiums owned by Indians in Switzerland, as also on earnings accruing from such properties to help it look into tax liabilities associated with those assets.
While the Swiss government has agreed to share details of real estate assets, the information about contributions to non-profit organisations and other such foundations, as also details on investments in digital currencies still remain out of ambit of the information pact. However, hectic lobbying is underway globally to convince Switzerland to start sharing information about digital currency accounts and contributions made to non-profit entities as well.
Himanshu, Founder and CEO of Switzerland For You SA, the parent firm of IDDI Investments, which is engaged in the business of attracting investments from India and other countries to Switzerland including in start-ups and real estate, said transparency has its own virtues. "We find no valid reason for Swiss authorities to hide such information. After all, the ownership of property is not something which can be kept under wraps," said the India-origin entrepreneur who goes by his first name only and is settled in Geneva for many years.
