Читать книгу Global Residence and Citizenship Handbook - Christian H. Kälin - Страница 14

Residence planning is the process of finding solutions to the complex range of considerations involved in moving your residence to another country, or obtaining residence rights in more than one country. This aspect of private wealth planning is growing in importance to optimize business and personal planning.

Improving your international tax situation is one of the key benefits of an alternative residence, alongside protecting your financial privacy and structuring matrimonial and inheritance interests in an advantageous manner. It also helps those who, due to political instability or other unfavorable elements, need to find a safe place to reside.

It is necessary to ensure that the country can accommodate all of your family, business, taxation and legal needs, and that the areas of infrastructure, physical environment, business and economy, and culture and lifestyle suit you.

Each country judges whether a person should be subject to taxation on a range of different factors. Residence planning can help you achieve a reduction in your tax burden, whilst ensuring that you meet the exact requirements for that country.

The move from one country to another can itself trigger tax implications, and all financial calculations must take into account exit taxes and extended income tax regimes. The timing of any move is also critical and can have a sizeable impact on taxation.

International health cover is one of the most important elements to have in place when thinking of moving abroad. Cover must be maintained both during the time of the move and upon settling in the new country.

When moving countries, one of the key factors will also be the selection of a new home. While an emotive decision, there are many important factors to consider when selecting property, besides the obvious question of location. The decision should also include analysis of whether it would be advantageous to use a holding structure such as a company for fiscal and succession planning.

The term residence planning was coined by Henley & Partners in the 1990s. At the time, most international lawyers did not consider it necessary for their clients to look at alternative residence solutions, or to conduct the relevant planning for their clients. Rather, obscure and often illegal structures were devised to essentially hide assets, which were then typically parked in “secure” jurisdictions such as the UK, the US, Switzerland, Luxembourg or many of the small island states and territories around the world.

Today the situation is different and many clients and advisors on all continents are working with this important aspect of private wealth planning. The political and legal climate means that the only sensible advice is to comply, or move out.