Sweden: tax haven for Norwegians

There are not many countries in which Sweden would be considered a tax haven, but one wealthy Norwegian says she plans to move across the border now that the government has scrapped wealth tax.

Caroline Hagen is the daughter of Norwegian financier Stein Erik Hagen, and plans to take advantage of the less severe taxes under the new centre-right government. Her sister Camilla could soon follow.

Stein Erik Hagen, whose family-owned holding company Canica has major shareholdings in a number of retail companies and consumer goods firms, said that Sweden’s decision to axe wealth tax would encourage many more wealthy Norwegians to cross the broder.

“It’s completely different to move to Sweden than to move to Cyprus. I myself have lived in Sweden, and my parents lived there when I was young,” Hagen told website Nettavisen. He said he hoped the Norwegian government would follow Sweden’s example.