Global Residence and Citizenship Handbook

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Christian H. Kälin. Global Residence and Citizenship Handbook

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“This is an excellent resource for advisors and those who are seeking to obtain second citizenship or become resident in another country”

Gideon Rothschild TEP, Attorney-at-law, Partner, Moses & Singer LLP, New York

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By choosing a country with a mild tax climate for a main residence, a taxpayer can considerably reduce his burden legally and effectively without the need for complex tax planning. Belgium, Croatia, Hong Kong, Malta, Monaco, Singapore, St. Kitts and Nevis, Switzerland, and the UK, to name a few, are attractive destinations in this respect. So a change of residence may well be worthwhile not only as a lifestyle choice but also from the standpoint of taxation.

A move will either have tax advantages and tax savings or it can create a greater tax burden, depending on the jurisdiction. It is therefore imperative to establish the tax implications prior to changing residence. Interesting scenarios could arise that one would not ordinarily be aware of. Most sensibly, one should consult a tax advisor who is versed in the tax laws of both countries.

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