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传承宝典｜家族的全面风险管理 导读 今天的超高净值家族面临着一个日益复杂、处处暗藏风险的世界。本文提出，对待风险，包括那些不太明显的风险和非财务风险，要采取一种更为广泛的管理方法，从而有效弥合家族成员之间的理解分歧，避免更大的风险发生。本文内容由雷梭勒家族办公室根据Stonehage Fleming文章编译整理，版权归原作者所有。 过去20年来，推动财富管理行业增长的，是对客户承诺的一种新的、全面的战略方法。而这一主张的核心，是更为智能的风险管理。 一些富有创意的个人和机构为了发挥竞争优势，设计了许多新型风险管理工具。尽管其中有一些工具构思巧妙且有实用价值，但总体结果令人失望，因为多数这类创新产品仍停留在对投资组合波动性的关注上，却没有去处理那些影响家族财富的更广泛的风险： 对许多客户而言，投资组合仅占家族财富的一部分。因此，如果未充分考虑家族更广泛的商业利益及其他资产，风险评估都是不完整的。 投资界传统上主要是根据波动性应对风险，却忽略了一个事实：从家族的视角和更长远的考虑，看待投资风险有很多其他方式。 未考虑到无形的和无法衡量的风险，许多研究表明这些风险是家族财富损失的主要原因（参见图A和图B）。 现实情况是，今天的超高净值家族面临着一个日益复杂、处处暗藏风险的世界。本文提出，对待风险，包括那些不太明显的风险和非财务风险，要采取一种更为广泛的管理方法。它不像那些确立已久的研究方法那样具有充分的科学和学术依据，而是主要基于逻辑严谨的常识判断，以及一个简单的、确保所有风险都在其特定条件下得到处理的程序。 风险敞口接下来不可避免的问题是，如何定义风险，以及如何识别和优先处理关键的风险敞口。对这个问题没有唯一正确的处理方法，而是取决于你的视角。对投资组合经理而言，合理的方式是主要关注投资组合的风险，并通过分散投资来实施风险管控。而相比之下，客户往往是企业家，他们通常集中投资于自己熟悉的少数几个领域来管理风险。 对于财富经理而言，在获得充分授权的情况下，进行风险分析首先需要了解家族的财富目标。如果程序中忽略了这一基础步骤，后续的所有考虑规划都是空中楼阁。 事实上，Stonehage Fleming最近的一份研究《二十一世纪资本的四大支柱》* 发现，大量家族一致认为，为自己的财富确定一个明确的目标，是代际财富传承的关键一步。 当然，挑战在于，每个家族的具体目标各有不同。不过，我们可以列出如下可能存在的目标层次： 提供资金，以保证家族成员一定的生活品质 维持一家成功的家族企业，为社会提供大量就业并作出贡献 保持并增加家族整体财富价值 维护家族团结，防止纠纷 提供一项基金，让家族成员能够进行创业投资或从事其他营利业务 提供一项基金用于慈善事业，家族成员可以自由选择是否参与 设立并维持长久的家族传承 财务风险和非财务风险财务风险包括导致绝对损失、未能达成目标值或低于最低基准值的可能情况。而对许多超高净值家族而言，财富（即使全部财富的一大部分）发生绝对损失可能并不会对其生活品质带来严重损害，甚至不会对其实现主要目标的能力产生大的影响。 非财务风险可能包括对家族声誉的损害、重大家族纠纷、家族价值观和工作伦理的丧失，或家族传承的破坏。在很多层面，非财务风险更为重要。例如，与投资组合中的任何资产错配或未能保有有形资产相比，家族纠纷或缺乏家族领导力更有可能对财富造成重大破坏 。 当纯粹的财务风险模型提出，一家成功的家族企业需要分散持股时，继续拥有这家企业所带来的“非财务”收益是很难定价的。同样，家族团结和治理透明所带来的收益也难以量化。 然而，只要是对家族财富的长期威胁进行分析，就需要考虑这一事实：大多数的家族财富会在三代之内消散，而大量研究表明，给财富带来破坏的主要是那些经常被忽略的、无法衡量的风险。 令人惊讶的是，许多家族仍然将投资风险视为主要风险敞口，尽管很少有家族纯粹因为投资管理不善而失去财富（图A）。 *《二十一世纪资本的四大支柱，代际成功的财富策略》，2015 图A：家族认识到的各类风险 （资料来源：家族办公室交流，2014） 另一方面，事后对财富严重缩水的家族进行的研究表明，造成这种财富缩水的最常见原因是沟通不畅、家族动力不足以及没有为下一代做好准备（图B）。 图B：家族实际面临的各种风险 （资料来源：《准备接班人：家族财富和价值观成功传承的五个步骤》, Williams & Pressier, 2003） 当然，并非所有风险都能避免，但有条理的战略方法至少有助于降低风险，增加财富成功代代相传的可能性。 风险图谱分析此家族风险管理方法可为家族带来一套分析和控制系统，它类似于企业和其他商业组织通常使用的风险管理流程。在某些方面，家族甚至比企业更需要这种程序上的约束，这是因为情感因素很容易导致重要问题的回避。 家族风险管理策略的制定应系统化，并考虑到财务风险和非财务风险：培养对潜在风险领域的认识能力和理解能力 了解每种风险对家族财富和家族本身的潜在影响 根据认识到的重要性、确定性和普遍性对风险进行排序 考虑到实际的风险与认识到的风险之间存在差异的可能性 针对每个主要风险点制定并实施风险缓解计划 将可量化的单个风险与不可量化和更普遍的风险区分开来可能有用。因此，可将某个风险划入下方的风险全域图所示的四象限之一： （资料来源：Stonehage Fleming, 2016） 以这种方式评估家族的风险环境，可对单个风险的处理方法产生相当大的影响：1.这种程序上的约束可确保所有风险都得到考虑而无一遗漏2.对风险进行了优先级排序，因此关注点会集中在潜在影响最大的风险上3.更具体地定义了风险，这有助于提出潜在的风险缓解措施4.它可以推动记录风险缓解计划5.它有助于确定可一起管理而不是单独管理的各个风险组 6.也许最重要的是，由于家庭成员之间对风险的理解可能有很大差异，这项工作有助于弥合这些差异，并制定统一的整体性方法 由此可对家族的风险环境形成智能评估，从而制定风险缓解计划，记录风险、概率、影响和缓解措施。 风险缓解计划最好是通过与家庭成员共同制定以获取其认同。应以动态视角看待该计划，并定期展开审查。 这种方法有助于将投资风险偏好、资产分配和可接受的投资时间跨度进行细化完善。 结论 我们认为，很多家族和他们的顾问主要关注的是那些有现成解决方案的有形风险，却没有关注那些更加复杂、更难衡量的无形风险，而这些风险往往导致家族财富损失惨重。 我们相信，这样的一套程序将带来更加全面、有效的方法，从而有助于保护家族财富和几代人的家庭幸福。也许最重要的是，它将有助于弥合家族成员之间的理解分歧，从而帮助避免更大的风险发生。 Original English Text Holistic Risk Management for Families The growth of the wealth management sector over the last 20 years has been fuelled by the promise to clients of a new, holistic and strategic approach. At the heart of the proposition is more intelligent risk management. Many new risk management tools have been devised by innovative individuals and institutions, seeking to develop a competitive edge. Useful and ingenious though some of these tools are, the overall result is disappointing, in that most of the innovation has remained narrowly focused on the volatility of investment portfolios, without addressing the broader risks affecting family wealth: For many clients, the investment portfolio represents only part of the family wealth. Any risk appraisal which does not take full account of wider business interests, and other assets is therefore incomplete. The investment industry’s conventional approach to risk is mainly based on volatility and ignores the fact that there are many other ways of looking at investment risk, from the perspective of the family and taking into account a longer term horizon. No account is taken of the intangible and unmeasurable risks, which numerous studies suggest are the main causes of family wealth destruction (refer Chart A and Chart B). The reality is that today’s families face an increasingly complex world of potential risks. This paper suggests a broader approach to risk management, which includes those less tangible and non-financial exposures. It is not as scientific or academically well founded as established methodologies, but is essentially based on well-structured common sense combined with a simple process, which ensures all risks are addressed in their proper context. The Risk Exposure The inevitable follow-on question is how to define risk and to identify and prioritise key risk exposures. There is no single correct approach to this question as it depends on one’s perspective. For a portfolio manager it is legitimate to focus primarily on the risk of the investment portfolio and to manage that risk by diversifying across a range of investments. By contrast, however, the clients are frequently entrepreneurs, who often manage risk by concentrating their investments in a few sectors which they know and understand. For the wealth manager, with a broad mandate, an analysis of risk requires an understanding of the family’s wealth objectives. If this basic foundation is omitted from the process, the result is that all subsequent considerations and planning are conducted in a vacuum. Indeed, a recent study by Stonehage Fleming, “Four Pillars of Capital for the Twenty First Century”* found wide agreement among families that defining a clear purpose for their wealth is a crucial step for wealth preservation across generations. The challenge, of course, is that no two family’s objectives will be the same. However, a potential hierarchy of objectives might be as follows:To provide financially to ensure appropriate living standards for family members To maintain a successful family business which provides significant employment and makes a contribution to the communityTo maintain and grow the value of the overall family wealthTo preserve family unity and prevent disputeTo provide a fund which enables family members to make entrepreneurial investments or to pursue other beneficial activitiesTo provide a fund for philanthropic causes, which may or may not involve family membersTo establish and uphold a lasting family legacy FINANCIAL AND NON-FINANCIAL RISK Financial risks include the possibility of an absolute loss, a failure to meet objectives or falling below minimum benchmarks. For many ultra-high net worth families, however, an absolute loss of wealth (even if a significant percentage of the whole) may not seriously damage lifestyles, nor even drastically impact on their ability to fulfil their main objectives. Non-Financial risks, could include damage to the family reputation, a major family dispute, loss of family values and work ethic, or the destruction of a family legacy. In many senses the non-financial risks are the more important. For instance, a family dispute or lack of family leadership is far more likely to lead to a major destruction of financial wealth than any asset allocation mistakes in the investment portfolio, or the failure to insure a tangible asset. It is also extremely difficult to put a price on the ‘non-financial’ benefits a...

瑞士冻卵技术 导读 如今越来越多的女性在生育这件事上选择采用“冻卵”手术，以便将年轻时的生育资源保留到日后使用，或者在需要采用生育治疗组建家庭时提升受孕几率。在这一极具私密性的领域，雷梭勒家族办公室拥有瑞士数家高端私人诊所的特别通道，为您排忧解难。本篇将瑞士冻卵治疗原理和相关情况一一道来，也希望能为您提供相关治疗诊所的有用信息。 人的一生中只有短短几年时间具备生育能力，因此它是一种宝贵的资源。如果您推迟受孕是为了有时间建立稳定的关系、继续深造、创业或发展事业，那么您应该考虑年龄对生育能力的影响。 女性在18到29岁之间生育能力最强。30岁以后，生育能力会逐渐下降，到30岁末40岁初，下降速度会加快。因此，在这个年龄段受孕对很多女性来说都是一个真正的挑战。事实上，如果没有辅助生殖技术（ART）的帮助，43岁自然受孕是非常罕见的。 然而，通过冷冻卵子，您可以将年轻时的生育资源保留一部分，以供日后使用。这种降低风险的策略可以将受孕几率提高5到10倍。对于正在接受化疗等治疗的女性来说，冷冻卵子也是一种选择，因为化疗也会影响生育能力。 瑞士对于冻卵的技术和社会接受度发展得相对成熟，以下是一些重要数据：重要事实一览瑞士自2012年起允许冷冻卵子。 自2012年起，瑞士的妇女就在冷冻自己的卵子，以便日后使用。 这种方法最常用于患癌女子，因为化疗通常会破坏卵巢中的卵子。 许多诊所将这种方法称为“社会性冻卵”，即妇女在没有医学原因的情况下决定冷冻卵子，例如，为了在成家之前先用几年时间发展事业。 在瑞士的主要诊所中，平均每周有一位女子进行卵子冷冻。瑞士全国范围内没有这方面的统计数据。 在瑞士，患癌女性的卵细胞可以无限期冷冻，而健康女性的卵细胞只能冷冻十年。 冷冻卵子的过程可能需要数周至数月，费用在1万至2万瑞士法郎。 雷梭勒拥有瑞士数家著名私人诊所的特别通道，在这个非常个人和私密的问题上为您排忧解难，是您理想的伙伴。 常见问题 为什么要储存卵子？ 您是否想要孩子，但尚未找到合适的伴侣？或者您觉得“生物钟”给自己带来了压力？您完全可以采用冻卵的方式保留自己的卵子，以便在您觉得可以通过生育治疗组建家庭时使用。 冻卵手术是如何进行的？ 卵巢会受到荷尔蒙注射的刺激，从而能够排出尽可能多的卵子。疗程开始两周后，卵子会被取出并冷冻起来。在瑞士，卵子能够冷冻最高达10年。一旦患者决定怀孕，就可以解冻卵子并使其受精。之后，形成的胚胎会被植入子宫。我们可靠的诊所会根据患者的具体情况逐一讨论其怀孕几率和治疗方案，以获得最佳几率。患者取卵时的年龄越小，生育一个或多个婴儿的机会就越大。 冷冻卵子的费用是多少？ 总费用很难估算，这取决于每个病例、治疗时间和治疗方法。每个病例的平均费用在10,000 到 20,000 瑞士法郎，其中包括麻醉师、药物和冷冻费用。 冷冻的卵子可以存放多久？ 在瑞士，卵子可以存放最高达十年。 如果在五年或十年后才解冻，卵子的质量会受到影响吗？ 原则上不会。 何时是考虑社会性冻卵的理想时间？ 25 岁女性怀孕的几率最大。在 35 岁之前，女性怀孕的几率仍然很高。这也是大多数卵子被冷冻的年龄。这个年龄段的女性开始担心自己的生育能力。来找我们的大多数女性还没有找到合适的伴侣。她们很想专注于自己的事业，同时又不用担心滴答作响的生理时钟。她们希望从 “为时已晚”的压力中解放出来，确保自己仍有生育的可能。 冻卵治疗的最佳诊所是哪家？ 瑞士提供卵子冷冻治疗的医院有很多，但并非所有医院都享有同样的良好声誉。我们推荐与我们密切合作的瑞士私人诊所网络，他们从医疗到接待的整体服务都享有盛誉，令人信服。作为家族办公室，我们将在细节上提供支持和协调，并帮助消除语言障碍，因为信任和理解是成功的关键。 瑞士最大的医院网络哈里斯兰登（Hirslanden）集团以其在该领域的能力和知识而闻名。由于哈里斯兰登采用了创新的方法，最初冷冻的卵母细胞在解冻后超过90%仍有活力，可以继续使用。之后，根据患者的具体情况，治疗将在同一家哈里斯兰登诊所继续进行： 解冻后的卵子在试管婴儿实验室与伴侣的精子受精后，胚胎会被移植到女性的子宫腔内，以实现怀孕。 闻名遐迩的吉尼列尔（Genolier） 私人诊所主要擅长处理因疾病而需要冷冻卵子的病例。如果被吉尼列尔诊所的医生确诊为生育障碍，在许多情况下都可以进行生殖治疗，该治疗也可以在吉尼列尔诊所进行。然而，由于各种方法的成功与否难以预料，而且有些方法可能会对身体和心理造成过大的负担，因此，在开始生育治疗之前，最好彻底梳理所有的优劣势、机会和风险，并事先与医生进行详细讨论。 运输在当今社会，我们的工作地和居住地经常变化，人员流动性较大，因此储存起来的卵母细胞可能需要被运往另一家诊所，有可能被运往另一个国家。这种运输对技术要求很高，也需要相应的费用。 因此，我们建议在同一家瑞士诊所完成咨询、取卵、卵子冷冻（储存）和再植入的全过程。 如果您正在考虑社会性冻卵，我们建议您与我们的顾问联系，他们将向您说明在瑞士知名私人诊所实现这一想法的可能性。 Original English Text Egg Freezing (Cryopreservation) Introduction: Fertility is a precious resource that is limited to only a few years of your life. If you are delaying conception to have time to build a stable relationship, pursue further education or build a business or career, you should consider the impact of age on your fertility. A woman is most fertile around the age of 18 to 29. After the age of 30, her fertility gradually declines, and this decline accelerates in the late 30s and early 40s. Therefore, conception at this age can be a real challenge for many women. In fact, spontaneous conception - without the help of assisted reproductive technology (ART) - is quite rare at age 43. However, by freezing eggs, you can preserve some of your youthful fertility resources for later use. This risk-reducing strategy can increase your chances of conception by 5 to 10 times. Egg freezing is also an option for women undergoing treatment such as chemotherapy, which can also affect their fertility. The most important facts in brief Egg freezing has been allowed in Switzerland since 2012. Since 2012, women in Switzerland have been able to have their eggs frozen so that they can be used later. The method is most often used by women suffering from cancer, as chemotherapy very often destroys the eggs in the ovaries. Many clinics refer to it as "social freezing" when women decide to do this without a medical reason, e.g. to pursue a career for a few years before starting a family. On average one woman per week has her eggs put on ice in major Swiss clinics. There are no statistics for Switzerland as a whole. The egg cells of women with cancer may be frozen in Switzerland without restriction, those of healthy women only for ten years. The procedure to freeze eggs may take several weeks to months and costs between CHF 10,000 and CHF 20,000. La Soleille has privileged access to some renowned private clinics in Switzerland and is therefore the ideal partner for you and your questions on this very individual and intimate subject. Frequently asked questions Why should you store your eggs?Do you want to have children but have not yet found the right partner? Or do you feel pressured by your "biological clock"? It is perfectly possible to collect and freeze your own eggs to preserve and use when you feel ready to start a family through fertility treatment. How does the egg freezing procedure work?The ovaries are stimulated with hormone injections in order to be able to retrieve as many eggs as possible. Two weeks after the start of therapy, the eggs are collected and then frozen. In Switzerland, eggs can be frozen for up to 10 years. Once the patient decides to become pregnant, the eggs can be thawed and fertilised. Afterwards, the resulting embryo is implanted in the uterus. Our trusted clinics will discuss the patient’s chances and treatments individually so that the chances are optimal. The younger the patient is at the time of egg retrieval, the higher the chance of having one or more babies. What is the cost of egg freezing?The total costs are very difficult to estimate depending on each case, timing an treatment. The average range is between CHF 10’000 to CHF 20’000 per case. And includes the anaesthetist, medication and freezing. How long are frozen eggs stored?In Switzerland, eggs may be stored for up to ten years. Will the quality of the eggs be affected if they are not thawed until five or ten years later?No. In principle, there is no loss of quality over the years. When is the ideal time to consider social freezing?A 25-year-old woman has the greatest chance of becoming pregnant. Up to the age of 35, women still have a very high chance of becoming pregnant. This is also the age when most eggs are frozen. Women at this age start to worry about their fertility. Most women who come to us have not yet found a suitable partner. Rarely do they want to concentrate on their careers without worrying about the ticking biological clock. They want to free themselves from the pressure that it is too late and make sure that it is still possible to have children. Which is the best clinic for egg freezing treatment?There are many Swiss hospitals that offer egg freezing, not all of them have the same good reputation. We recommend our private Swiss clinic network with whom we work closely and whose overall service from medical treatment to hospitality is both renowned and convincing. We as a family office then support and coordinate the fine-tuning and the language barriers as trust and understanding is key to success. Well known for their capacity and knowledge in this particular field is Switzerland’s largest hospital networkHirslanden Group. Due to the innovative Hirslanden method, > 90 % of the originally frozen oocytes are still vital and usable for further use after thawing. At a later point in time, individually determined by the patient, the treatment is continued in the same Hirslanden clinic: After fertilisation of the thawed eggs with the partners sperm in the IVF laboratory, embryos are transferred into the womans uterine cavity with the intention of achieving a pregnancy there. The renownedGenolier Private Clinic specialises primarily in cases requiring egg freezing due to illness. If the doctor at the Genolier Clinic diagnoses a fertility disorder, reproductive treatment is possible in many cases, which can then also be carried out at the Genolier Clinic. However, since the success of the individual methods is unpredictable and some of them can overstrain the body and psyche, it is advisable to thoroughly examine all the advantages and disadvantages, chances and risks before starting fertility treatment and to discuss them in detail with...

稀缺瑞士地产项目｜阿尔卑斯山不可复制的理想栖居地 瑞士是全世界最安全稳定且人民生活最富裕的国家之一，人均GDP九万美元以上，排名世界第3。同时，瑞士也是世界金融中心和全球第18大经济体，也是全球最大的离岸中心。而瑞士的房地产作为一种稀缺的资产，每年都保持着稳定的回报率，吸引着大量的投资人来进行投资。也正因如此，瑞士土地资源极为珍贵，瑞士政府对外籍人士在当地购房有着严格的限制和要求，因此外籍人士可购买的房地产项目异常稀缺。本篇文章将介绍的地产项目——阿尔卑斯壹号酒店式公寓，是当地州政府特批可以售卖给外国人购买的极少数物业项目之一。峰位矜贵——阿尔卑斯壹号 阿尔卑斯壹号位于瑞士最大的滑雪区四山谷中心的祖玛（La Tzoumaz）缆车站，此雪区位于瑞士中心位置，距离日内瓦国际机场仅需1个半小时的车程，距离瓦莱州的首府锡永仅需20分钟。祖玛滑雪区域由5个滑雪场和92部缆车组成，共13条雪道，全长410公里，全年拥有6个月的超长雪期。以祖玛为起点，可便捷游览附近雄伟的马特洪峰、日内瓦湖、蒙特勒旅游中心等多个著名地标。 阿尔卑斯壹号是祖玛区唯一一家滑雪入户酒店式公寓，四栋酒店公寓建筑位于滑雪坡道上，滑雪场与酒店采用一体化的设计。在雪山的柔美境界中从容享受、独家尊享滑雪入户。 项目概况 阿尔卑斯壹号项目共65套四星级酒店式公寓，由四栋建筑组成，全球仅限65位尊贵人士独享。户型：单间、一居、两居、三居、三居复式户型面积：29.9~147.1 ㎡售价区间：CHF 284,600~1,487,000配套设施：餐厅、酒吧、咖啡厅、健身房、雪具储藏室、地下停车场等地理位置：位于瑞士最大滑雪区四山谷中的祖玛（La Tzoumaz）登山缆车站（距日内瓦国际机场1个半小时车程，距离瓦莱州首府锡永20分钟车程） 项目亮点 1 滑雪入户，阿尔卑斯山风景推窗尽享每年的12月到4月是瑞士的滑雪季节，全球约有43%的滑雪爱好者会来瑞士感受滑雪天堂的魅力。 阿尔卑斯壹号所在地四山谷是瑞士最大的滑雪胜地，该地区雪道总长412公里，通过92条缆车相连，垂直落差接近2000米。其中初级蓝道107公里，中级红道202公里，高级黑道103公里。该地区有200多个滑雪场，4000多名专业级别的滑雪教练。 而阿尔卑斯壹号则是该地区唯一一家滑雪入户的酒店式公寓。酒店建于滑雪坡道之上，采用滑雪场与酒店一体化的设计，可直接滑进滑出。 每年的5月到11月则是旅游旺季。在阿尔卑斯壹号周边，有百余公里的骑行和徒步路线，可以满足游客的徒步旅行需求。此外，游客还可开展登山、滑翔、探索阿尔卑斯山等各种活动。 2 源于自然，高于自然阿尔卑斯壹号严格遵守瑞士高建筑标准，传承欧洲百年建筑屹立不倒的风格,安全与舒适双管齐下。 酒店的每栋楼均配有防空洞，使用特殊混凝土墙体，厚20cm，由专门的气压设备操作。门窗均采用优质多层玻璃，通过外部探头自动调节室内温度，确保室内温度舒适。家具选用阿尔卑斯山原木，环保、美观、大方、使用寿命很长。 3 专业服务，信用背书瑞士阿尔卑斯壹号酒店式公寓项目提供一键式、专业合规的服务，从管理到收益全部由专业团队提供保障。 阿尔卑斯壹号项目由瑞士顶级酒店管理公司GNP（GoodNight Partners）专业管理。GNP公司专注于酒店房产业务，其管理人员均毕业于洛桑酒店管理学院，此前已在瑞士成功运营管理7家雪场酒店，拥有丰富且专业的酒店管理经验。 阿尔卑斯壹号项目由中国上市公司众信旅游集团出品。众信旅游是国内领先的全国性的大型旅游运营商，北京市5A级旅行社，国内A股市场首家民营旅行社上市公司。据统计，众信旅游集团每年向境外旅游输出人数高达200万人，其中瑞士旅游人数已经超过11万人次，很多旅游线路都经过祖玛小镇，可全面保障项目资金安全性与未来游客量。 4 公证监管，安全保障在瑞士，房地产交易买卖必须经过公证师的确认方可生效，公证师负责房地产交易中的所有资金交换。 5 可传承的永久产权阿尔卑斯壹号是永久产权，无遗产税，一旦购入房产，房屋和土地均会变为私有，房主可以世世代代居住。子女通过继承得到的房产也无需缴纳遗产税。 6 可预见的投资汇报 作为投资，房地产投资的收益较高，除了本金收益率随着房价增长而增长之外，还有固定租金带来的收益。相比于股票债券投资来说，风险也相对更低。 业主权益：购买公寓后，开发商包租15年，前三年每年投资回报5%，第四年起每年客房纯利润70%分红；业主享受每年14天非雪季免费入住；业主持有公寓5年后可更名、可出售； 瑞士是全球通胀率最低的国家之一，投资瑞士房产是抗通胀的极佳选择。瑞士房地产市场无泡沫，升值稳定。10年间，瑞士房价平均增长35%，30年来没有跌过。自项目启动至2022年，阿尔卑斯壹号酒店式公寓项目已增值5%。 7 公证监管，安全保障 在瑞士，房地产交易买卖必须经过公证师的确认方可生效，公证师负责房地产交易中的所有资金交换。 作为尊贵、稀缺的海外资产配置产品，阿尔卑斯壹号酒店式公寓项目自从推出后广受中国投资者欢迎。瑞士雷梭勒家族办公室拥有该项目的瑞士独家销售授权，可为您定制私人看房团赴瑞预约看房，提供一揽子房产交易交割服务。 如果您对于阿尔卑斯壹号酒店式公寓项目感兴趣，意欲了解更多详情，欢迎通过邮箱info@lasoleille.com或电话400-006-7726咨询雷梭勒客户经理。 本文转载自瑞士雷梭勒家族办公室，如有侵权，敬请告知删除。 Sooswiss为您提供 瑞士方向私人管家式的定制服务： 1）家族传承 2）财富管理 3）投资咨询 4）企业服务 5）居留计划 6）国际教育 更多资讯请登录网站 www.sooswiss.com

8.1｜瑞士的第732个国庆节，瑞士人怎么过？ 如果历史学家没有弄错的话，瑞士联邦的成立日期是1291年的8月1日，这是一个非常久远的日子。 自1891年以来，8月1日一直是瑞士的银行假日（banking holidays）。这是为了纪念在1291年，瑞士三个德语州——乌里州、施维茨州和上瓦尔登州——结成了历史性联盟。这一联盟在随后的500年构成了今天瑞士的基础。 这三个州的人们“于1291年8月初”相互宣誓，承诺永远效忠、相互帮助和施以援助。结盟的主要目的是对抗哈布斯堡家族的帝国，因为哈布斯堡家族当时正努力加强其在通往哥达山口的战略要地的地位，而哥达山口今天仍是意大利和瑞士之间的重要转接点。 按照传统，每个社区、村庄或城镇都会为当地居民举办八一庆祝活动。活动内容包括当局讲话、儿童游戏，还会有社区赞助的饮料和食物（可以品尝到大量的瑞士葡萄酒和瑞士奶酪！），许多社区还会在夜间放烟花。瑞士首都伯尔尼的联邦电视台会转播瑞士联邦主席的讲话。社区庆祝活动有政界或文化界的知名人士发表讲话，通常还有音乐会或大合唱、体操表演和社区成员共唱国歌。 几个世纪以来，像瓦莱这样崎岖多岩的州一直在举办一种壮观而浩大的传统庆祝活动：农民们在山上和其他高地燃起巨大的篝火，以纪念十四世纪驱逐外国法警的事件。晚上，孩子们会提着点燃的纸灯笼在村里的街上漫步。公共和私人建筑上都会挂上国旗、州旗和社区旗，面包师们也会在特制的面包卷上插上瑞士小国旗。 另一个特别的庆祝活动在沙夫豪森（Schaffhausen）附近的莱茵瀑布举行（距苏黎世约45分钟车程）。从十九世纪中叶开始，每逢特殊场合，瀑布都会亮灯。自1920年起，每年的8月1日都会定期举行灯会。同一天，绚丽的烟花表演也吸引着众多观众来到这个特别的地方。 作为一个农耕国度，瑞士还有另一项丰富多彩、乐趣非凡，且适合全家参与的户外传统活动“BuurZmorge”，即 8 月 1 日的 “农民早午餐”。过去 30 年来，瑞士全国各地约 300 名农场主和他们的家人每年都会开放自己的农场，让客人品尝美味佳肴，观赏农场动物。这一传统的初衷是，农民们希望展示自己美丽的乡村农场，同时通过自助早午餐的形式，用当地的新鲜食物庆祝瑞士国庆日。在品尝了农家的 rüsti（马铃薯煎饼）、rüierei（炒鸡蛋）和 späck（熏肉）之后（这些食物都做得非常美味可口，分量也很足），人们可回到巨大的自助餐厅，品尝农家的新鲜水果和蔬菜、酸奶、桦树麦片和胡萝卜或西葫芦湿蛋糕。当然还少不了美味的瑞士奶酪！ 最后，在卢塞恩湖畔乌里州的“吕特里草地（Rütli Meadow）”会举行一场具有代表性且盛大的传统庆祝活动。庆祝活动就在传说中1291年三个州宣誓结盟的地方举行。 在世界各地欢度瑞士国庆节 瑞士人向来热衷于旅游，一个世纪以来，许多瑞士家庭移居到了其他国家，并在其他大洲定居下来，但他们始终保留着自己的传统和一年一度的节日，尤其是八一国庆节。 美国：直到2013年，美国最大的瑞士国庆节活动一直由纽约瑞士慈善协会组织和举办。活动通常在曼哈顿举行，吸引着来自纽约、新泽西、康涅狄格和宾夕法尼亚州的数千名瑞士人、瑞士裔美国人和瑞士友人参加。 2014年活动的口号是“回归本源（Back to the roots）”，自那时起，活动的形式就发生了变化。这是又一场盛大的家庭活动，人们可以品尝到瑞士香肠、 拉科莱特干酪（Raclette）、瑞士葡萄酒等各种美食，现场还有乐队、DJ和儿童乐园。自2014年以来，该活动一直由纽约瑞士协会、纽约瑞士慈善协会和瑞士驻纽约总领事馆主办。多年来，雷梭勒家族办公室顾问之一Raymond Loretan先生作为前瑞士驻纽约大使一直是活动的主办者。 哥伦比亚特区华盛顿的瑞士俱乐部（Swiss Club of Washington, D.C.）、瑞士大使馆（Swiss Embassy）、加利福尼亚州蒙特雷县的瑞士步枪俱乐部（Swiss Rifle Club）、旧金山湾区的纽瓦克瑞士公园（Newark Swiss Park）以及洛杉矶郊区的惠蒂尔瑞士公园（Whittier Swiss Park）也会举行庆祝活动。瑞士公园的庆祝活动包括瑞士文化活动和游戏，其中包括弩箭比赛。 在英国，这一天也是约克郡日。由瑞士面包师于1919年创立的哈罗盖特的贝蒂斯和泰勒咖啡馆（Bettys and Taylors of Harrogate），会在约克郡的6家咖啡馆庆祝这两个节日。英国各地的瑞士协会通常会在8月1日之前的两个星期六举行全国庆祝活动，以便让居住在英国的瑞士家庭有机会在漫长的八月暑假到来之前参加。在伦敦，瑞士国庆节在里士满（Richmond）举行，由伦敦瑞士国庆日委员会（Swiss National Day London Committee）主办，该委员会是一个独立的志愿者团体，并得到了瑞士驻伦敦大使馆（Swiss Embassy London）、瑞士俱乐部新赫尔维蒂协会（Swiss clubs New Helvetic Society）和提契诺联盟（Unione Ticinese）的支持。 加拿大：魁北克萨顿山（Mont Sutton Quebec）会举办瑞士境外规模最大的瑞士国庆庆典活动。每年的庆典活动都以一个州为主题，并有该州的食品和特产。 中国：香港每年都会举办瑞士国庆日庆祝活动，不仅让居住在香港地区的瑞士人团聚，还让许多曾去过瑞士、喜欢瑞士及其传统的瑞士迷们欢聚一堂。瑞士驻北京大使馆和瑞士领事馆也会邀请瑞士人和当地客人品尝瑞士葡萄酒，共享一年一度的庆祝活动。 如果您在瑞士或正在前往瑞士，想了解庆祝八一国庆节有哪些方式和好去处，请告诉我们，我们将很乐意为您提供建议！ Original English Text 1st August – Swiss National Day!Let’s celebrate! If historians are correct, the founding date of the Swiss Confederation fell on 1 August in the year 1291, a very long time ago. Since 1891, the first of August has been celebrated as the Swiss bank holidays. The date refers to a historic alliance that the three German-speaking Swiss cantons of Uri, Schwyz and Unterwalden made in 1291. This alliance was to form the basis for todays Switzerland over the following 500 years. Men from these three cantons "at the beginning of the month of August 1291" swore eternal allegiance to one another, promising mutual help and assistance. The alliance was mainly formed against the empire of the Habsburg family, who were striving to strengthen their position in the strategic region leading to the Gotthard Pass at the time – and still today’s key transition point between Italy and Switzerland. Traditionally, each community, village or town is celebrating the 1st of August by organizing an event for the inhabitants – kids and adults! There are speeches by the authorities, games for children, drinks and food (a lot of Swiss wine and Swiss cheese!!) sponsored by the community and in many communities a firework display later in the evening. The Confederation in Switzerland’s capital Bern is televising a speech of the President of the Swiss Confederation. Speakers in communal celebrations comprise prominent public figure from political or cultural life, often accompanied by a concert or choir, gymnastic presentations, and the community singing the national anthem. A beautiful and most impressive tradition is celebrated since centuries in mountainous cantons such as Valais: farmers install huge bonfires, mainly up the hills and other elevated spots, commemorate the expulsion of foreign bailiffs in the fourteenth century, the news of which were spread in this manner in those days. Children carrying lighted paper lanterns roam the village streets at night. Public and private buildings are decorated with national, cantonal, and community flags, and the bakers produce special bread rolls with a small Swiss flag on top. Another special kind of celebration takes place at the Rhine Falls near Schaffhausen (about 45 minutes’ drive from Zurich). From mid-nineteenth century onwards, the waterfall has been illuminated on special occasions. Since 1920, it has been illuminated regularly on August 1. On the same day, a magnificent fireworks display also attracts a lot of spectators to this special site. Switzerland, being the land of farmers, there is also another colourful outdoor tradition in Switzerland which really is fun for all the family. It is called the “BuurZmorge”, or the 1st August “Farmer’s Brunch”! Every year for the past 30 years, around 300 farmer’s and their families from all over the country have opened their local farms to guests to try their delicious food and see the farm animals. This tradition first started because farmers wanted to showcase their beautiful farms in the countryside whilst also celebrating the Swiss National day with local, fresh food in a buffet-style brunch. After tucking into farmer’s rüsti (rösti), rüierei (scrambled eggs) and späck (speck/bacon) – which are all deliciously and feshly prepared and very generously portioned – one returns to the enormous buffet for farm fresh fruit and veggies, yoghurt, bircher muesli and moist carrot or courgette cake. And of course always with some delicious Swiss cheese! Finally, a representative and impressive traditional celebration is staged at the “Rütli Meadow” in the canton of Uri above Lake Lucerne. It takes place in the same place where the legendary pledge of alliance was pronounced in 1291. Celebration of the Swiss National Day around the world The Swiss have always been keen travellers, and over the course of the century many Swiss families moved to other countries and settled on other continents. But they always kept their traditions and annual festivals, especially the first of August. USA: Until 2013, the largest Swiss National Day event in the USA was organized and held annually by the Swiss Benevolent Society of New York. Usually held in Manhattan, the event draws thousands of Swiss, Swiss-Americans and Friends of Switzerland from around New York, New Jersey, Connecticut and Pennsylvania. Since 2014, the event format has changed with the motto “Back to the roots”. It is a great family event again where one can enjoy everything ranging from Swiss sausages to Raclette, Swiss wine, bands, a DJ and kids corner. Since 2014, the event has been organized by the Swiss Society of New York, the Swiss Benevolent Society of New York and the Consulate General of Switzerland in New York. Over many years one of La Soleille Family Office advisors, Mr. Raymond Loretan, was one of the organizers as the Swiss Ambassador based in New York. Celebrations are also held in Washington, District of Columbia by the Swiss Club of Washington, D.C., on the Swiss Embassy grounds, in Monterey County, California at the Swiss Rifle Club, at the Newark Swiss Park in the San Francisco Bay Area and in the Los Angeles suburb of Whittier in Swiss Park. The Swiss Park celebration features Swiss cultural events and games, including a crossbow competition.[citation needed] In Britain it is also Yorkshire Day, celebrating the county of Yorkshire. Bettys and Taylors of Harrogate, founded in 1919 by a Swiss baker, celebrate bot...