Clients are increasingly international and it is fair to say that the world is becoming ever smaller for wealthy individuals. Their business interests, real estate, investments and family members are increasingly spread globally and not always in obvious jurisdictions.
People relocate for many different reasons – climate, education, and business opportunities, to name a few. Different locations appeal to different people and an understanding of the lifestyle, immigration and financial factors are often key when choosing where to move. However, there is always one common theme irrespective of where individuals choose to relocate – tax. Tax is a global concept, and an understanding of tax regimes across jurisdictions remains fundamental in facilitating international mobility.
The new BDO Global Opportunities for Relocation 2018 has a focus on some 40 jurisdictions, including the most popular locations where people choose to live. The study distinguishes different tax regimes across the globe, most of which offer some attractions and are favorable in different circumstances, whether it be low tax/no tax, remittance basis, lump sum or favorable for new residents.
Do you want to know more? Our advisors can help you find the most advantageous and effective tax jurisdiction for you while ensuring that you comply with applicable law.
To find out more on how we can assist you, watch our short presentation video.
Contact us if you would like a non-committal talk with one of our Private Client tax-experts