Welltec founder weighs relocation to Switzerland in tax maneuver

Welltec's founder Jørgen Hallundbæk is thinking about moving the company from its base in Allerød, Denmark to Switzerland in order to save on taxes.

Danish businessman Jørgen Hallundbæk made his fortune in the oil industry, founding the company Welltec more than 20 years ago. Now, he is weighing the decision to move ownership of the firm from Denmark to Switzerland.

According to the prospectus for Welltec's new, massive bond debt, Hallundbæk is considering a move of the parent company to the Alps for "tax-related reasons."

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