In just two years, Norway has managed to drive thousands of its wealthiest citizens out of the country and into Switzerland, taking hundreds of billions of dollars with them. How? By implementing one of the most punishing tax regimes in Europe.

The Tax Hike That Started It All

In 2022, Norway cranked up its wealth tax to 1.1%—the highest in Europe—and slapped a 38% capital gains tax on top of it. These changes made it nearly impossible to preserve wealth within the country, forcing entrepreneurs, investors, and business owners to make a brutal choice: stay and watch their fortune evaporate or flee before it’s too late.

The Tax Trap Explained

Let’s break it down:

• Suppose you have $100 million in taxable wealth.
• You’re immediately hit with a $1.1 million wealth tax every year.
• Where do you get that cash? You’re forced to sell assets.
• But selling triggers the 38% capital gains tax, leaving you with just $682,000—not even enough to cover the original tax bill!
• To fully pay the government, you actually need to sell nearly $1.8 million worth of assets.

This creates a vicious cycle: every year, you lose part of your fortune just to stay afloat. Over time, wealth isn’t just taxed—it’s systematically dismantled.

For business owners, it’s even worse. To cover these taxes, they must sell company shares, eventually losing control of the very businesses they built. Startups hit with sky-high valuations must borrow money just to pay tax on income they haven’t even earned yet.

The Great Norwegian Exodus

Faced with these crushing policies, 5,000 Norwegians packed their bags and moved to Switzerland—including 500 of the wealthiest individuals in the country.

But those who hesitated paid a steep price. The government, realizing it was losing its top taxpayers, doubled down with an EXIT TAX.

Norway’s Financial Berlin Wall

Under this new rule, if you try to leave Norway, you must pay 38% of the market value of all your assets—a massive penalty just for wanting to relocate.

This means that if you didn’t escape in time, your wealth is now locked in. The government has essentially built a financial Berlin Wall—making it as painful as possible to leave.

At The Parrot Press, we don’t have much sympathy for billionaires, but when you push innovation away, you’re also pushing wealth and technological progress aside. Moreover, the extra income generated from such policies doesn’t lead to meaningful development. Instead, it’s more likely to fund luxurious dinners for politicians and cover the expenses of their newly appointed staff.

Norway Didn’t Even Need the Money

Here’s the real kicker: Norway isn’t even financially desperate.

• Only 18% of the government’s revenue comes from private citizens.
• The country’s sovereign wealth fund—the largest in the world—holds a staggering $1.6 TRILLION (or $320,000 per citizen).
• Even if Norway completely stopped collecting taxes, it could still fund government spending for an entire decade.

This wasn’t about necessity. It was about control, which seems to already be backfiring!