Danilo · Updated 2026-09-24 · Sources: Zuger Zeitung via zug4you.ch, 21 February 2020; ESTV tax calculator 2026 (income and legal-entity taxes); SBB fares; Ordinance on minimum taxation of large business groups (SR 642.161)
Zimmer Biomet moved from Winterthur to Zug – company tax, fares and household tax
In February 2020 the medical-technology company Zimmer Biomet said it would move its Europe, Middle East and Africa headquarters from Winterthur to offices "within walking distance of the railway station in Zug". Up to 130 employees, "including many managers", were asked to move their jobs by the end of that year. Production, with about a thousand staff, stayed in Winterthur.
The company pointed to Zug's medical-technology cluster and to its pull for highly qualified people from abroad. Zug's economic development office added that tax "also" played a role. In Winterthur, the mayor said he had warned about exactly this kind of move.
The move is a few years old, but it's a clean example: a management team moves while the factory stays. We priced it with 2026 rates, the latest year the federal tax administration (ESTV) has published, not the rates of 2020.
What the company saves
The profit of the Swiss entity isn't public, so we price an illustrative company limited by shares (AG) with CHF 1 million of profit before tax and CHF 10 million of equity.
| Location | Profit tax | Capital tax | Total per year | Profit tax as share of profit |
|---|---|---|---|---|
| Winterthur | CHF 196'103 | CHF 17'228 | CHF 213'331 | 19.6% |
| Zug | CHF 116'280 | CHF 6'714 | CHF 122'994 | 11.6% |
That is CHF 90'337 less a year in Zug per CHF 1 million of profit. Winterthur is slightly dearer than the city of Zürich for companies. Baar (CHF 121'764) and Cham (CHF 124'146) sit next to Zug.
Two caveats:
- The OECD minimum tax. Since 2024, groups with at least EUR 750 million in annual
revenue pay a Swiss top-up tax so their effective rate reaches 15% (Ordinance on minimum taxation, SR 642.161). The calculator doesn't include it. For a group in scope that has booked a lot of profit in Zug, a large part of the gap is taxed away again. In 2020 that rule didn't exist yet.
- Church tax. The calculator adds church tax on companies in Zug but shows none for
Winterthur, although the canton of Zürich levies one. The Winterthur figure is therefore slightly too low.
Managers who kept their Winterthur home
A monthly second-class pass from Winterthur to Zug comes to about CHF 330 in Zügle's fare tables, or CHF 3'960 a year. That's Zügle's estimate, not an SBB quote. We don't give the journey time here; the timetable has it.
Managers who moved to Zug
Here are two example households. The first is illustrative. The second matches the household the newspaper *Der Landbote* used in 2020 (married, CHF 180'000 income), but without the wealth, because we price income only here.
| Household | Winterthur | Zug | Difference |
|---|---|---|---|
| Single, CHF 130'000, no church | CHF 19'072 | CHF 9'384 | CHF −9'688 |
| Married, no children, CHF 180'000, no church | CHF 25'707 | CHF 11'748 | CHF −13'959 |
For a single person, Baar would be CHF 9'181 and Cham CHF 9'475, both close to Zug.
When moving pays off
Compare keeping a Winterthur home and commuting with moving close to the Zug office. Rent is left out on purpose.
- Single, CHF 130'000: CHF 9'688 less tax + CHF 3'960 no longer spent on the pass =
CHF 13'648 a year. Moving pays off as long as the Zug flat costs no more than about CHF 1'137 a month more (CHF 13'648 ÷ 12 = CHF 1'137.33).
- Married, CHF 180'000: CHF 13'959 + CHF 3'960 = CHF 17'919 a year, so up to about
CHF 1'493 a month more (CHF 17'919 ÷ 12 = CHF 1'493.25).
For high earners the tax difference between the two cantons is large. That's why the *Zuger Zeitung* expected the move to bring "many top earners to Zug".
What these numbers leave out
- The company figures describe an illustrative AG, not Zimmer Biomet.
- Household figures are for tax year 2026, the stated incomes and no church tax. Wealth
adds its own tax, and it too differs between the cantons.
- Time on the train, schools and a partner's job don't appear in these figures.
- Nothing here is tax advice. Have a Swiss tax adviser review any decision.
Try it with your own numbers
Compare your home with a real flat near Zug: try it with your own numbers. Relocation advisers can run the same comparison per employee, including declared wealth, in the agency workspace.