'The Ultra-Rich Are Worried': Wealthy Expats Flee Dubai for Switzerland as War Fears Grow and Fortunes at Risk

Source: International Business Times

The Swiss franc surged to its strongest level against the euro since 2015 after the US-Israeli strikes on Iran. Wealthy expats who once flocked to Dubai's tax-free lifestyle are now racing to move their money to Switzerland as the US-Israeli war with Iran shatters the Gulf's reputation as a safe place to park a fortune. The exodus accelerated after US and Israeli strikes on Iran in late February, which killed Supreme Leader Ayatollah Ali Khamenei and triggered retaliatory missile and drone attacks across the Gulf.