Multitude plc has taken another step forward in its multi-phase journey to be domiciled in Switzerland, when an extraordinary general meeting (EGM) of company shareholders approved the move, clearing the way for the redomiciliation to proceed.
The company was previously domiciled in Finland, but moved to Malta earlier this year as a stepping stone to the Swiss city of Zug.
Multitude already had a presence in Malta through its subsidiary Multitude Bank plc, licensed by the Malta Financial Services Authority (MFSA) to provide a range of banking services to clients.
Prior to 2022, Multitude SE was known as Ferratum, before a group-wide rebrand that also included Malta’s Ferratum Bank plc to change to Multitude Bank plc.
Zug is known for its low tax rate, among the lowest in Switzerland. It is the registered headquarters of many multinational firms, with thousands of companies holding a registered office there.
It also has one of highest concentrations of wealth in the world – one in every eight people in Zug is a millionaire (in USD, it should be noted).
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