{"id":937,"date":"2026-09-11T17:18:31","date_gmt":"2026-09-11T17:18:31","guid":{"rendered":"https:\/\/baarda.ch\/?p=937"},"modified":"2026-09-11T17:18:31","modified_gmt":"2026-09-11T17:18:31","slug":"reint-jelger-hi-gem-just-a-question-what-if-you-would-divide-the-yearly-recent-profit-of-glencore-switzerland-by-the-amount-of-days-there-are-in-a-year-how-much-schweizer-franken-do-they-make-prof","status":"publish","type":"post","link":"https:\/\/baarda.ch\/?p=937","title":{"rendered":"Reint Jelger: Hi Gem, just a question, what if you would divide the yearly recent profit of Glencore Switzerland by the amount of days there are in a year, how much Schweizer Franken do they make profit a day?"},"content":{"rendered":"\n

Google Gemini: Glencore reported a net income attributable to shareholders of $363 million USD<\/strong>. Expressed in Swiss Francs (at an average exchange rate of roughly 0.88 USD\/CHF), this equals approximately CHF 319.44 million<\/strong>.<\/p>\n\n\n\n

Dividing this net profit across 365 days yields CHF 875,178 per day<\/strong> (or ~$994,520 USD per day).<\/p>\n\n\n\n

Here is the list of 17 Swiss companies that generate more net profit per DAY than Glencore, ranked by daily profit:<\/p>\n\n\n\n

Rank<\/strong><\/td>Company<\/strong><\/td>Daily Profit (CHF \/ day)<\/strong><\/td><\/tr><\/thead>
1<\/strong><\/td>Roche<\/strong><\/td>CHF 51,670,000<\/strong><\/td><\/tr>
2<\/strong><\/td>Novartis<\/strong><\/td>CHF 38,030,000<\/strong><\/td><\/tr>
3<\/strong><\/td>Chubb<\/strong><\/td>CHF 34,630,000<\/strong><\/td><\/tr>
4<\/strong><\/td>Nestl\u00e9<\/strong><\/td>CHF 32,710,000<\/strong><\/td><\/tr>
5<\/strong><\/td>UBS Group<\/strong><\/td>CHF 25,450,000<\/strong><\/td><\/tr>
6<\/strong><\/td>ABB<\/strong><\/td>CHF 15,730,000<\/strong><\/td><\/tr>
7<\/strong><\/td>Zurich Insurance<\/strong><\/td>CHF 13,840,000<\/strong><\/td><\/tr>
8<\/strong><\/td>Richemont<\/strong><\/td>CHF 12,960,000<\/strong><\/td><\/tr>
9<\/strong><\/td>Swiss Re<\/strong><\/td>CHF 10,520,000<\/strong><\/td><\/tr>
10<\/strong><\/td>TE Connectivity<\/strong><\/td>CHF 9,070,000<\/strong><\/td><\/tr>
11<\/strong><\/td>Swiss Life<\/strong><\/td>CHF 6,050,000<\/strong><\/td><\/tr>
12<\/strong><\/td>Swisscom<\/strong><\/td>CHF 5,530,000<\/strong><\/td><\/tr>
13<\/strong><\/td>Partners Group<\/strong><\/td>CHF 4,660,000<\/strong><\/td><\/tr>
14<\/strong><\/td>Sika<\/strong><\/td>CHF 4,600,000<\/strong><\/td><\/tr>
15<\/strong><\/td>Schindler Group<\/strong><\/td>CHF 4,110,000<\/strong><\/td><\/tr>
16<\/strong><\/td>Givaudan<\/strong><\/td>CHF 3,950,000<\/strong><\/td><\/tr>
17<\/strong><\/td>K\u00fchne + Nagel<\/strong><\/td>CHF 3,920,000<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Would Glencore Switzerland be a viable investment for a Schizophrenic person with a large estate, because the criteria are either defensive or neutral investment<\/p>\n\n\n\n

No, Glencore is not a viable investment under those specific criteria.<\/strong> Glencore fails to meet both «defensive» and «neutral» investment standards.<\/p>\n\n\n\n

Defensive & Neutral Investment Check<\/h3>\n\n\n\n
Criteria<\/th>Is Glencore Suitable?<\/th>Reality of Glencore Equity<\/th><\/tr><\/thead>
Defensive<\/strong><\/td>No<\/strong><\/td>Defensive assets (e.g., healthcare, utilities, high-grade government bonds) maintain steady earnings regardless of market conditions. Glencore is a highly cyclical commodity miner and trader<\/strong> whose profits swing wildly depending on global metal and energy prices.<\/td><\/tr>
Neutral<\/strong><\/td>No<\/strong><\/td>Neutral assets (e.g., short-term money market funds or broad total-market index funds) aim to track market baselines with low individual stock exposure. Glencore is a single, high-volatility equity<\/strong> with concentrated operational, regulatory, and ESG risks.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Key Risks for Large Estate & Fiduciary Planning<\/h3>\n\n\n\n
    \n
  1. Earnings & Dividend Volatility:<\/strong> Unlike traditional defensive income stocks, Glencore’s net profits fluctuate dramatically\u2014ranging from tens of billions in peak commodity years to net losses or minimal payouts during market troughs.<\/li>\n\n\n\n
  2. Operational & Regulatory Exposure:<\/strong> As a major global trading house and mining entity, Glencore carries complex operational, geopolitical, and regulatory risks. Morningstar<\/li>\n\n\n\n
  3. Fiduciary Risk & Concentration:<\/strong> Putting significant funds into a single commodity stock exposes an estate to sharp drawdowns. Fiduciary standards generally require broad diversification to protect capital.<\/li>\n<\/ol>\n\n\n\n

    Typical Investment Alternatives<\/h3>\n\n\n\n
    \"\"<\/figure>\n\n\n\n

    For an estate with strict defensive or neutral preservation mandates, professional wealth managers generally focus on:<\/p>\n\n\n\n

      \n
    • Defensive Assets:<\/strong> High-quality sovereign bonds, global defensive equities (consumer staples, healthcare, utilities), or inflation-protected securities.<\/li>\n\n\n\n
    • Neutral Assets:<\/strong> Broad multi-asset index funds, low-duration money market funds, or broad-market fixed income portfolios.<\/li>\n<\/ul>\n\n\n\n

      Disclaimer: This overview is provided purely for informational and educational purposes. Managing a large estate\u2014especially involving specialized care, legal guardianship, or fiduciary responsibilities\u2014requires tailored guidance from qualified financial planners and legal professionals.<\/em><\/p>\n\n\n\n

      Is it seen that healthcare, utilities, high-grade government bonds are good approved to invest the estate of a high net worth Schizophrenic man<\/p>\n\n\n\n

      Yes, those asset classes fit the standard criteria for a defensive or neutral mandate.<\/strong> Healthcare, utilities, and high-grade government bonds are classic examples of defensive assets designed to prioritize capital preservation, low drawdowns, and steady cash flow over aggressive capital growth.<\/p>\n\n\n\n

      Under Swiss adult protection framework (managed by the Child and Adult Protection Authority, or KESB<\/em> \/ APEA<\/em>), managing an estate for someone who may periodically or permanently lack full legal capacity (Urteilsf\u00e4higkeit<\/em>) requires strict fiduciary care.<\/sup> Fiduciary guidelines generally require that assets be invested conservatively to avoid large market fluctuations.<\/p>\n\n\n\n

      How These Asset Classes Fit the Mandate<\/h3>\n\n\n\n
      Asset Class<\/th>Classification<\/th>Role in Estate Preservation<\/th><\/tr><\/thead>
      High-Grade Government Bonds<\/strong><\/td>Defensive \/ Low-Risk<\/strong><\/td>Provides maximum capital safety, liquidity, and predictable yield (e.g., Swiss Confederation bonds or AAA sovereign debt). Serves as the principal stability core.<\/td><\/tr>
      Utilities Equities<\/strong><\/td>Defensive<\/strong><\/td>Provides inelastic demand (power, water, grid infrastructure). Utilities generate steady earnings and dividends regardless of macroeconomic downturns.<\/td><\/tr>
      Healthcare Equities<\/strong><\/td>Defensive<\/strong><\/td>Represents non-cyclical demand (pharmaceuticals, medical devices, diagnostics). Earnings are largely insulated from broader market sell-offs.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

      When structuring a portfolio for a large estate under defensive guidelines, institutional asset managers and court-appointed guardians (Beistand<\/em>) generally adhere to three core rules:<\/p>\n\n\n\n

        \n
      1. Broad Diversification over Single Stocks:<\/strong> Even within defensive sectors like healthcare or utilities, investing in individual equities carries firm-specific risk. Fiduciaries typically utilize broad sector ETFs, index funds, or multi-asset mandates rather than picking individual companies.<\/li>\n\n\n\n
      2. Currency Alignment:<\/strong> Because living expenses and medical\/care costs are denominated in Swiss Francs (CHF), holding a significant proportion of high-grade CHF-denominated fixed income avoids unhedged foreign exchange volatility.<\/li>\n\n\n\n
      3. Liquidity Reserves:<\/strong> A portion of the estate should remain in low-duration money market instruments or cash equivalents to ensure liquidity for day-to-day healthcare, administrative, and living expenses.<\/li>\n<\/ol>\n\n\n\n

        What companies Switzerland allows Schizophrenic men with financial stewardship to invest in combined in a diversified basket of 30.<\/p>\n\n\n\n

        #<\/strong><\/td>Company<\/strong><\/td>Sector<\/strong><\/td>Judicial \/ Investment Rationale<\/strong><\/td><\/tr><\/thead>
        1<\/strong><\/td>Nestl\u00e9<\/strong><\/td>Consumer Staples<\/td>Non-cyclical food\/beverage giant; steady cash flows and dividend history.<\/td><\/tr>
        2<\/strong><\/td>Roche Holding<\/strong><\/td>Pharmaceuticals<\/td>Non-cyclical defensive demand in global healthcare and diagnostics.<\/td><\/tr>
        3<\/strong><\/td>Novartis<\/strong><\/td>Pharmaceuticals<\/td>Core pharmaceutical demand with low correlation to economic downturns.<\/td><\/tr>
        4<\/strong><\/td>Zurich Insurance<\/strong><\/td>Insurance<\/td>Strong balance sheet, steady premium revenues, high dividend yield.<\/td><\/tr>
        5<\/strong><\/td>Swisscom<\/strong><\/td>Telecommunications<\/td>Highly defensive domestic telecom infrastructure provider.<\/td><\/tr>
        6<\/strong><\/td>Givaudan<\/strong><\/td>Specialty Chemicals<\/td>Defensive demand in flavors and fragrances for consumer goods.<\/td><\/tr>
        7<\/strong><\/td>Swiss Re<\/strong><\/td>Reinsurance<\/td>Major global institutional reinsurer; strong capital reserves.<\/td><\/tr>
        8<\/strong><\/td>Chubb<\/strong><\/td>Insurance<\/td>Global property and casualty insurer domiciled in Switzerland.<\/td><\/tr>
        9<\/strong><\/td>Schindler Group<\/strong><\/td>Industrial Equipment<\/td>Inelastic maintenance revenue from global elevators and escalators.<\/td><\/tr>
        10<\/strong><\/td>ABB<\/strong><\/td>Industrial Automation<\/td>Long-term electrification trends; strong corporate balance sheet.<\/td><\/tr>
        11<\/strong><\/td>Sika<\/strong><\/td>Construction Chemicals<\/td>Dominant global position in infrastructure and building materials.<\/td><\/tr>
        12<\/strong><\/td>Geberit<\/strong><\/td>Building Products<\/td>Strong cash flows and market dominance in sanitary systems.<\/td><\/tr>
        13<\/strong><\/td>Sonova<\/strong><\/td>Healthcare Technology<\/td>Inelastic demand for hearing care and medical equipment.<\/td><\/tr>
        14<\/strong><\/td>Straumann<\/strong><\/td>Healthcare Technology<\/td>Global leader in dental implantology with stable margins.<\/td><\/tr>
        15<\/strong><\/td>SGS<\/strong><\/td>Testing & Inspection<\/td>Recurring global verification and testing revenues.<\/td><\/tr>
        16<\/strong><\/td>Lindt & Spr\u00fcngli<\/strong><\/td>Premium Consumer<\/td>Strong pricing power and resilient consumer brand equity.<\/td><\/tr>
        17<\/strong><\/td>K\u00fchne + Nagel<\/strong><\/td>Logistics & Freight<\/td>Essential infrastructure role in global trade and supply chains.<\/td><\/tr>
        18<\/strong><\/td>Richemont<\/strong><\/td>Luxury Goods<\/td>High cash reserves and dominant global luxury portfolio.<\/td><\/tr>
        19<\/strong><\/td>Barry Callebaut<\/strong><\/td>Food Processing<\/td>B2B chocolate manufacturing serving global food conglomerates.<\/td><\/tr>
        20<\/strong><\/td>Swiss Life<\/strong><\/td>Financial Services<\/td>Regulated pension and asset management with steady cash generation.<\/td><\/tr>
        21<\/strong><\/td>B\u00e2loise Holding<\/strong><\/td>Insurance<\/td>Domestic Swiss insurer focused on conservative risk management.<\/td><\/tr>
        22<\/strong><\/td>Helvetia Group<\/strong><\/td>Insurance<\/td>Stable domestic and European multi-line insurance provider.<\/td><\/tr>
        23<\/strong><\/td>SIG Group<\/strong><\/td>Packaging<\/td>Aseptic food and beverage packaging with recurring revenues.<\/td><\/tr>
        24<\/strong><\/td>Emmi<\/strong><\/td>Dairy Products<\/td>Essential domestic food supply chain and strong local presence.<\/td><\/tr>
        25<\/strong><\/td>BKW<\/strong><\/td>Energy & Utilities<\/td>Regulated grid infrastructure and power generation.<\/td><\/tr>
        26<\/strong><\/td>Alpiq<\/strong><\/td>Energy & Utilities<\/td>Major Swiss hydro-electric power supplier.<\/td><\/tr>
        27<\/strong><\/td>PSP Swiss Property<\/strong><\/td>Commercial Real Estate<\/td>Prime Swiss commercial properties providing rental yields.<\/td><\/tr>
        28<\/strong><\/td>Allreal Holding<\/strong><\/td>Real Estate<\/td>Defensive Swiss property portfolio focused on residential\/commercial.<\/td><\/tr>
        29<\/strong><\/td>Vetropack<\/strong><\/td>Industrial Packaging<\/td>Essential glass packaging for Europe’s food and beverage industry.<\/td><\/tr>
        30<\/strong><\/td>Galenica<\/strong><\/td>Healthcare Retail<\/td>Primary healthcare logistics and pharmacy network in Switzerland.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

        Key Legal Framework for Large Estate Approval<\/h3>\n\n\n\n
          \n
        1. Asset Allocation Limits:<\/strong> The VBVV sets a general threshold of 25% equity allocation<\/strong> for standard estates. For exceptionally large estates where living costs are fully secured, KESB can approve broader equity mandates.<\/li>\n\n\n\n
        2. Fixed-Income Core:<\/strong> The remaining 70\u201375% of the estate must typically be held in high-grade Swiss Franc fixed income (Swiss Confederation bonds, Kantonalbank deposits, or Pfandbriefe) to eliminate foreign exchange risk.<\/li>\n<\/ol>\n\n\n\n

          Reint Jelger: I have got a task for you. It is a bit complicated. But show me how if 3 million Swiss Franks is used to aquire a basket of those 30 companies, 100’000 per company, how much money yearly one would yield on this particuler portfolia basket<\/p>\n\n\n\n

          Google Gemini: If you allocate CHF 3,000,000<\/strong> equally across the 30 defensive Swiss companies (investing CHF 100,000 in each company<\/strong>), your yearly gross income would be generated entirely through cash dividends<\/strong>.<\/p>\n\n\n\n

          A well-diversified basket of these top 30 blue-chip Swiss stocks currently yields an weighted average dividend yield of approximately 3.35% per year<\/strong>.<\/p>\n\n\n\n

          Income Summary<\/h3>\n\n\n\n
          Metric<\/th>Amount in Swiss Francs (CHF)<\/th><\/tr><\/thead>
          Total Portfolio Value<\/strong><\/td>CHF 3,000,000<\/strong><\/td><\/tr>
          Allocation Per Stock<\/strong><\/td>CHF 100,000 across 30 companies<\/td><\/tr>
          Average Portfolio Dividend Yield<\/strong><\/td>~3.35% per year<\/strong><\/td><\/tr>
          Estimated Gross Income (Yearly)<\/strong><\/td>~CHF 100,500 \/ year<\/strong><\/td><\/tr>
          Estimated Gross Income (Monthly)<\/strong><\/td>~CHF 8,375 \/ month<\/strong><\/td><\/tr>
          Estimated Gross Income (Daily)<\/strong><\/td>~CHF 275 \/ day<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

          Dividend Yields Across the Basket<\/h3>\n\n\n\n

          To see where that income comes from, the companies broadly fall into three yield tiers based on their current payouts:<\/p>\n\n\n\n

          1. High-Yield Anchor Stocks (~4.0% \u2013 5.5% Yield)<\/h4>\n\n\n\n

          Each CHF 100k generates CHF 4,000 \u2013 CHF 5,500\/yr<\/em><\/p>\n\n\n\n

            \n
          • Insurance & Financials:<\/strong> Zurich Insurance (~5.1%), Swiss Re (~4.8%), Swiss Life (~4.2%), B\u00e2loise Holding (~4.5%), Helvetia (~4.1%). DivvyDiary<\/li>\n\n\n\n
          • Telecom & Utilities:<\/strong> Swisscom (~4.0%), BKW (~3.8%). DivvyDiary<\/li>\n<\/ul>\n\n\n\n

            2. Stable Blue-Chip Core (~2.8% \u2013 3.8% Yield)<\/h4>\n\n\n\n

            Each CHF 100k generates CHF 2,800 \u2013 CHF 3,800\/yr<\/em><\/p>\n\n\n\n

              \n
            • Consumer & Healthcare:<\/strong> Nestl\u00e9 (~3.9%), Roche (~3.2%), Novartis (~3.0%), Galenica (~3.4%). AD HOC NEWS<\/li>\n\n\n\n
            • Industrials & Real Estate:<\/strong> ABB (~2.8%), Schindler (~2.9%), SGS (~3.6%), PSP Swiss Property (~3.5%), Allreal (~3.8%).<\/li>\n<\/ul>\n\n\n\n

              3. Low-Yield \/ Growth-Oriented Stocks (~1.0% \u2013 2.5% Yield)<\/h4>\n\n\n\n

              Each CHF 100k generates CHF 1,000 \u2013 CHF 2,500\/yr<\/em><\/p>\n\n\n\n

                \n
              • Luxury & Specialty:<\/strong> Richemont (~1.8%), Givaudan (~2.1%), Lindt & Spr\u00fcngli (~1.4%), Straumann (~1.2%), Sika (~1.6%).<\/li>\n<\/ul>\n\n\n\n

                If the estate is managed under Swiss jurisdiction, keep two structural factors in mind:<\/p>\n\n\n\n

                  \n
                1. Swiss Withholding Tax (Verrechnungssteuer<\/em>):<\/strong> Swiss companies automatically withhold 35%<\/strong> at source when paying out dividends. However, for a tax-registered resident in Switzerland, this 35% is fully refundable or credited back via the regular annual tax return.<\/li>\n\n\n\n
                2. Capital Gains vs. Dividends:<\/strong> In Switzerland, private capital gains are generally tax-free<\/strong>, whereas cash dividend income is subject to regular income tax. For estate preservation under judicial guidelines (KESB<\/em>), this steady ~CHF 100,000 annual dividend stream provides liquidity to cover living expenses, healthcare costs, and administrative fees without needing to sell underlying shares.<\/li>\n<\/ol>\n\n\n\n

                  Reint Jelger: If a Dutch national Schizophrenic would have that portfolio basket in Swiss Franks that would yield approx CHF 100’500 yearly, and tax redemption optimized, also Dutch taxes included. How much would that be in Swiss Frank and converted to Euro as well<\/p>\n\n\n\n

                  Google Gemini: For a Dutch tax resident (regardless of health diagnosis, as personal circumstances do not alter standard tax asset classification in the Netherlands), holding a CHF 3,000,000 portfolio<\/strong> yielding CHF 100,500 per year<\/strong> involves two primary tax layers: Swiss Withholding Tax<\/strong> and Dutch Box 3 Wealth Tax<\/strong>.<\/p>\n\n\n\n

                  Assuming a tax-optimized structure utilizing the Double Taxation Treaty (DTT) between the Netherlands and Switzerland<\/strong>, here is the exact breakdown in Swiss Francs (CHF)<\/strong> and converted into Euros (EUR)<\/strong> at the exchange rate (~1 EUR = 0.9466 CHF \/ 1 CHF = 1.056 EUR):<\/p>\n\n\n\n

                  Step-by-Step Income & Tax Breakdown<\/h3>\n\n\n\n
                  Tax Stage<\/th>Amount (CHF)<\/th>Amount (EUR)<\/th>Explanation & Optimization Mechanism<\/th><\/tr><\/thead>
                  1. Gross Portfolio Yield<\/strong><\/td>CHF 100,500<\/strong><\/td>\u20ac106,170<\/strong><\/td>~3.35% average dividend yield on CHF 3.0M across 30 Swiss blue-chip stocks.<\/td><\/tr>
                  2. Swiss Withholding Tax (Verrechnungssteuer<\/em>)<\/strong><\/td>(CHF 15,075)<\/em><\/td>(\u20ac15,925)<\/em><\/td>DTT Reduced to 15%:<\/strong> Under Article 10 of the CH-NL Tax Treaty, Dutch residents can reclaim 20% of the standard 35% Swiss withholding tax, capping Swiss tax at 15%<\/strong>.<\/td><\/tr>
                  3. Net Received in Bank Account<\/strong><\/td>CHF 85,425<\/strong><\/td>\u20ac90,245<\/strong><\/td>Cash paid out directly to the investor after Swiss source withholding.<\/td><\/tr>
                  4. Dutch Box 3 Wealth Tax (Vermogensrendementsheffing<\/em>)<\/strong><\/td>(CHF 59,510)<\/em><\/td>(\u20ac62,880)<\/em><\/td>Calculated under the Dutch Box 3 asset tax regime on «other assets» (overige bezittingen<\/em>) for a single taxpayer.<\/td><\/tr>
                  5. Tax Credit Relief (DTT)<\/strong><\/td>+ CHF 15,075<\/strong><\/td>+ \u20ac15,925<\/strong><\/td>The 15% Swiss tax paid (CHF 15,075) is fully credited against Dutch Box 3 income tax obligations.<\/td><\/tr>
                  6. Net Final Dutch Box 3 Paid<\/strong><\/td>(CHF 44,435)<\/em><\/td>(\u20ac46,955)<\/em><\/td>Total remaining tax owed to the Belastingdienst<\/em> after crediting the Swiss tax paid.<\/td><\/tr>
                  7. Total Net Income After All Taxes<\/strong><\/td>CHF 41,005<\/strong><\/td>\u20ac43,325<\/strong><\/td>Final take-home cash flow per year (~1.37% net portfolio yield).<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

                  Detailed Explanation of the Tax Optimization<\/h3>\n\n\n\n

                  1. Reclaiming Swiss Withholding Tax (Swiss Side)<\/h4>\n\n\n\n
                    \n
                  • Switzerland imposes a standard 35% withholding tax<\/strong> at source on all Swiss corporate dividends.<\/li>\n\n\n\n
                  • By filing Form 85 \/ Form IB with the Swiss Federal Tax Administration (ESTV<\/em>) as a Dutch tax resident, the tax is reduced to the treaty rate of 15%<\/strong>, refunding 20% (CHF 20,100 \/ \u20ac21,230) back to the estate.<\/li>\n<\/ul>\n\n\n\n

                    2. Dutch Box 3 Wealth Taxation (Dutch Side)<\/h4>\n\n\n\n

                    In the Netherlands, equities are taxed in Box 3<\/strong> based on total portfolio value (capital wealth) rather than actual cash dividend income:<\/p>\n\n\n\n

                      \n
                    • Asset Value:<\/strong> CHF 3,000,000 (~\u20ac3,169,200).<\/li>\n\n\n\n
                    • Tax-Free Allowance:<\/strong> ~\u20ac59,357 (~CHF 56,187) is exempt. Leiden International Centre<\/li>\n\n\n\n
                    • Taxable Base:<\/strong> ~CHF 2,943,813 (~\u20ac3,109,840).<\/li>\n\n\n\n
                    • Notional Return:<\/strong> The Belastingdienst<\/em> assumes a ~6.0% fictitious return on «other assets» (~CHF 176,629 fictitious income).<\/li>\n\n\n\n
                    • Box 3 Tax Rate:<\/strong> Taxed at 36% = ~CHF 63,586 \/ \u20ac67,180<\/strong> total gross Dutch tax liability before double-taxation credits.<\/li>\n<\/ul>\n\n\n\n

                      3. Foreign Tax Credit Integration<\/h4>\n\n\n\n
                        \n
                      • Under Dutch tax law, the 15% non-refundable Swiss tax (CHF 15,075 \/ \u20ac15,925) is credited directly against the Box 3 liability, reducing total additional Dutch tax due to CHF 44,435 \/ \u20ac46,955<\/strong>.<\/li>\n<\/ul>\n\n\n\n

                        Summary Takeaway<\/h3>\n\n\n\n
                          \n
                        • Gross Annual Income:<\/strong> CHF 100,500 \/ \u20ac106,170<\/strong><\/li>\n\n\n\n
                        • Combined Tax Total (Swiss + Dutch):<\/strong> CHF 59,510 \/ \u20ac62,880<\/strong> (Effective total tax rate of ~59.2% relative to cash yield)<\/em><\/li>\n\n\n\n
                        • Net Annual Take-Home Income:<\/strong> CHF 41,005 \/ \u20ac43,325<\/strong> (~CHF 3,417 or \u20ac3,610 per month<\/strong>)<\/li>\n<\/ul>\n\n\n\n

                          Note: In the Netherlands, if the actual total capital growth + dividend return of the portfolio falls significantly below the assumed Box 3 notional return rate in a given year, the estate can invoke the «counter-evidence rule» (Tegenbewijsregeling) to cap Box 3 tax based on actual realized returns, preserving more capital.<\/em><\/sup><\/p>\n\n\n\n

                          So if the Dutch Schizophrenic person is able to do a 3 million Swiss Frank stock basket investment, he would then in the Netherlands legally be able to use the amount (after all taxes) of \u20ac43,325 approximately yearly<\/p>\n\n\n\n

                          Yes, in broad legal terms.<\/strong> From a civil and tax perspective in the Netherlands, an individual residing in the Netherlands who owns a \u20ac3.17M portfolio (CHF 3M) yielding ~CHF 100,500 in dividends is entitled to receive and freely spend the net proceeds after all applicable taxes\u2014approximately \u20ac43,325 (CHF 41,005)<\/strong> per year.<\/p>\n\n\n\n

                          However, whether that cash amount flows directly<\/em> to the individual depends on their legal governance framework<\/strong> and social welfare status<\/strong> in the Netherlands.<\/p>\n\n\n\n

                          Key Legal & Administrative Conditions<\/h3>\n\n\n\n
                            \n
                          1. Freedom of Private Property (Eigendomsrecht<\/em>)<\/strong> Under Dutch civil law (Burgerlijk Wetboek<\/em>), private capital belongs entirely to the individual. Possessing a medical condition such as schizophrenia does not revoke ownership rights or restrict private spending power.<\/li>\n\n\n\n
                          2. Ineligibility for State Welfare Benefits (Bijstanduitkering<\/em>)<\/strong> In the Netherlands, state assistance programs like the Participatiewet<\/em> (social welfare \/ bijstand<\/em>) have strict asset limits. For a single individual, the maximum permitted net asset threshold is \u20ac8,000<\/strong>. Because this individual holds over \u20ac3 million in Box 3 assets, they are entirely disqualified from receiving state welfare or government healthcare allowances (Zorgtoeslag<\/em>). All living costs, private medical care, and housing must be funded directly from their net private yield (~\u20ac3,610 per month) or capital. Gratis juridisch advies | Krijg Je Bijstand+ 2<\/li>\n\n\n\n
                          3. Judicial Guardianship (Onderbewindstelling<\/em>)<\/strong> If a Dutch court (Kantonrechter<\/em>) determines that an individual is mentally unable to manage their financial affairs independently, the court will appoint an administrator (bewindvoerder<\/em>). Gratis juridisch advies | Krijg Je Bijstand\n
                              \n
                            • The administrator’s role is to ensure all annual taxes (Belastingdienst<\/em>) and medical expenses are paid.<\/li>\n\n\n\n
                            • The net remaining ~\u20ac43,325\/year remains the legal property of the individual, but the administrator manages payouts, issuing a monthly allowance (leefgeld<\/em>) into the individual\u2019s personal account according to a budget pre-approved by the court.<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n\n\n\n

                              Reint Jelger: Are you saying in Europe Schizophrenic people have to pay as much as ordinary people in taxation?<\/p>\n\n\n\n

                              Google Gemini: Yes.<\/strong> Under European and Dutch tax law, tax liability is strictly based on legal residency, income, and capital wealth\u2014not on a person’s medical diagnosis, mental health status, or physical condition.<\/p>\n\n\n\n

                              A person diagnosed with schizophrenia pays the exact same income, wealth, and dividend taxes on an estate as any other citizen in the same tax bracket.<\/p>\n\n\n\n

                              Core Reasons for Equal Taxation<\/h3>\n\n\n\n
                                \n
                              • Principle of Non-Discrimination:<\/strong> Legal and constitutional frameworks (such as the European Convention on Human Rights and the Dutch Constitution) prohibit differential tax rates based on personal characteristics, health status, or disabilities.<\/li>\n\n\n\n
                              • Separation of Tax Law and Welfare Support:<\/strong> European tax authorities (Belastingdienst<\/em> in the Netherlands, ESTV<\/em> in Switzerland) evaluate assets purely as economic capital. Medical expenses, care needs, or disability accommodations are addressed separately through dedicated social support systems, healthcare coverage, and specific tax-deductible medical expense allowances\u2014not through lowered baseline asset or income tax rates.<\/li>\n\n\n\n
                              • Equal Treatment of Wealth:<\/strong> A \u20ac3.17 million (CHF 3 million) stock portfolio is subject to standard Box 3 wealth taxes<\/strong> in the Netherlands regardless of who owns it, ensuring equal tax treatment across all high-net-worth residents.<\/li>\n<\/ul>\n\n\n\n

                                Where Medical Circumstances Do<\/em> Affect Finances<\/h3>\n\n\n\n

                                While baseline tax rates do not change, having a chronic condition or legal protection status can alter related financial mechanics:<\/p>\n\n\n\n

                                  \n
                                1. Deductible Medical Expenses (Specifieke Zorgkosten<\/em>):<\/strong> In the Netherlands, certain out-of-pocket medical, care, or therapy costs that are not reimbursed by mandatory basic health insurance (Zorgverzekering<\/em>) can be deducted from personal income tax, indirectly lowering total tax burdens.<\/li>\n\n\n\n
                                2. Administrative & Guardianship Costs:<\/strong> If a court appoints an administrator (bewindvoerder<\/em>) to manage the portfolio, the administrator’s statutory fees and annual accounting costs are paid directly out of the estate’s gross income before personal spending allowances are calculated.<\/li>\n\n\n\n
                                3. Protection of Assets:<\/strong> The state imposes strict fiduciary oversight (Kantonrechter<\/em> review) to ensure that the individual’s capital is preserved and that taxes are accurately paid, preventing financial exploitation or mismanaged tax filings.<\/li>\n<\/ol>\n\n\n\n

                                  Bern: Could you say if the Dutch Schizophrenic with a 3’000’000 Swiss Frank basket would still be eligible to receive the Dutch ‚zorgtoeslag‘ monthly. And if yes, lets multiplate the basket with dividend yield, by 2 times, 3 times, and maybe 4 times. So I suppose in those cases the amount would be x times 43000 euro about, at what income would the Zorgtoeslag stop?<\/p>\n\n\n\n

                                  Gemini: No, the individual would not be eligible to receive any zorgtoeslag<\/em> (healthcare allowance).<\/strong><\/p>\n\n\n\n

                                  In the Netherlands, zorgtoeslag<\/em> is governed by two strict conditions evaluated simultaneously by the tax authority (Dienst Toeslagen<\/em>): an income limit<\/strong> (inkomensgrens<\/em>) and a wealth limit<\/strong> (vermogensgrens<\/em>).<\/p>\n\n\n\n

                                  Because the \u20ac3,000,000 CHF basket (~\u20ac3,169,200) far exceeds the wealth limit, eligibility is cut off immediately\u2014regardless of annual income or yield multipliers.<\/p>\n\n\n\n

                                  1. Statutory Thresholds for Zorgtoeslag<\/h3>\n\n\n\n
                                  Threshold Type<\/th>Statutory Limit (Single Person)<\/th>Estate Situation (~\u20ac3.17M Capital)<\/th>Status<\/th><\/tr><\/thead>
                                  Wealth Limit (Vermogensgrens<\/em>)<\/strong><\/td>\u20ac146,011<\/strong><\/td>~\u20ac3,169,200<\/strong><\/td>Exceeded (~21x higher)<\/strong><\/td><\/tr>
                                  Income Limit (Inkomensgrens<\/em>)<\/strong><\/td>\u20ac40,857 \/ year<\/strong><\/td>\u20ac43,325 to \u20ac173,300+ \/ year<\/strong><\/td>Exceeded across all yields<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

                                  Because the portfolio value (~\u20ac3.17M) easily breaches the statutory \u20ac146,011 limit on Box 3 assets, eligibility for zorgtoeslag<\/em> is zero on day one.<\/p>\n\n\n\n

                                  2. Multiplied Dividend Scenarios (Yield Trajectories)<\/h3>\n\n\n\n

                                  If we examine multiplying the gross cash yield while keeping the baseline asset value constant, the net income trajectory expands as follows:<\/p>\n\n\n\n

                                  Dividend Multiplier<\/th>Approx. Gross Income<\/th>Net Annual Take-Home Income (Post-Tax)<\/th>Zorgtoeslag<\/em> Status<\/th><\/tr><\/thead>
                                  Chf 3’000’000 basket<\/td>~\u20ac106,170 \/ year<\/td>~\u20ac43,325 \/ year<\/strong> (~\u20ac3,610\/mo)<\/td>Ineligible<\/strong> (Exceeds wealth & income limits)<\/em><\/td><\/tr>
                                  Chf 6’000’000 basket<\/td>~\u20ac212,340 \/ year<\/td>~\u20ac86,650 \/ year<\/strong> (~\u20ac7,220\/mo)<\/td>Ineligible<\/strong> (Exceeds wealth & income limits)<\/em><\/td><\/tr>
                                  Chf 9’000’000 basket<\/td>~\u20ac318,510 \/ year<\/td>~\u20ac129,975 \/ year<\/strong> (~\u20ac10,830\/mo)<\/td>Ineligible<\/strong> (Exceeds wealth & income limits)<\/em><\/td><\/tr>
                                  Chf 12’000’000 basket<\/td>~\u20ac424,680 \/ year<\/td>~\u20ac173,300 \/ year<\/strong> (~\u20ac14,440\/mo)<\/td>Ineligible<\/strong> (Exceeds wealth & income limits)<\/em><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

                                  3. At What Income Does Zorgtoeslag Stop Entirely?<\/h3>\n\n\n\n

                                  Assuming an individual has zero wealth<\/strong> (or assets below the \u20ac146,011 limit):<\/p>\n\n\n\n