Wealthy Russians disclose what they do with the money

Russian millionaires are not hiding their foreign bank accounts from tax, according to research by Tranio real estate service and Ernst & Young.

Most often, millionaires invest in foreign bonds – 79% of respondents said they have foreign bonds.

Real estate is also a popular investment; 62% of respondents have invested in it and are going to resell their assets or rent them out later.

Far fewer people choose to invest in jewelry, as only 13% of respondents have done so.

It appears safest to store one’s savings in Switzerland, according to Russian millionaires; 98% of respondents said they have assets there. Others keep their money in the UK or Cyprus, reports.

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