February 26, 2016
While several of FIFA’s officials undergo money-laundering investigations, soccer’s global governing body is opening its mixed-use multifamily property’s doors in Zurich. The new 10-story building boasts luxury apartments, scenic views of the Alps, as well as a soccer museum. It is located across the street from Hotel Ascot, another FIFA property.
The organization is appointing a new president to replace Sepp Blatter, who stepped down last year amid a criminal investigation in Switzerland. Blatter, however, is still listed as president of the holding company’s board of directors.
Timothy Speiss, tax specialist with EisnerAmper, said, “Managing such commercial investments in separate holding companies helps protect FIFA from paying full taxes on its principal and most profitable activities.”