But there's a point where we just can't pay that. I've sacrificed, I work 12 hours a day here. What should I do? Geneva's minimum wage came into law not because the government imposed it, but because Geneva citizens proposed it as a "people's initiative".
Switzerland's system of direct democracy means the voters have the final say, so the minimum wage is now obligatory. Often, Swiss citizens tend to vote very cautiously when it comes to spending public money. But on the same day they also backed the nationwide introduction of two weeks' paid paternity leave.
For Charly Hernandez these moves are positive signs that, especially in such difficult times, people in this largely wealthy country are looking out for one another. We do have a very direct democracy that is great, but what many people don't know is that most people's initiatives get turned down.
The next test for voters will come later this month when the Swiss will decide on a "responsible business initiative". That would require companies based in Switzerland to take legal and financial responsibility for human rights and environmental abuses right along their supply chains, anywhere in the world. A yes to that could cost far more than Geneva's world-beating minimum wage.
More stories from our Switzerland correspondent. Yearning for the sound of tourists in the Alps again. Geneva is home to some of the wealthiest organisations and individuals, but it also has food banks. Why the need? Image source, Getty Images.
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That is partly because the outbreak of the coronavirus has increased people's longing for security, according to analysts at UBS. The number of wealthy people seeking to live in Switzerland continues to rise, partly due to the pandemic and a growing desire for security. The list also includes many others from abroad, such as Belarusian billionaire Andrey Melnichenko, and French entrepreneur Gerard Wertheimer, who holds the majority of shares at Chanel, together with his brother.
Then there's Dutch entrepreneur Charlene Carvalho-Heineken, whose father founded the Heineken brewery. Credit Suisse estimates that That gives the country the greatest concentration of millionaires worldwide, aside from small states such as Monaco. Switzerland also has billionaires, according to Bilanz.
One of the many luxury items Switzerland is associated with is watches, such as the ones from Rolex. Meanwhile, more wealthy people are heading to Switzerland, it seems.
That means new arrivals do not have to declare their assets at all. But even without these kinds of deals, the conditions are more than favourable in Switzerland. Cooks in Switzerland preparing cuisine for a state visit. The Alpine country has been attracting the world's super rich for decades. People tend to plan a move to Switzerland a long time in advance, says Caputo, listing the steps. Then the family arrives, followed by the head of the family.
This amounts to a quarter of all global foreign assets, and more than in Hong Kong and Singapore. What people are looking for is a secure investment, he says.
That could be a 'modest' three-bedroom holiday apartment, for example. Prices start at one to two million Swiss francs RM4.
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