International tax lawyer's service to transfer your residence to a tax free residence
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Legal Tax Benefits by Expatriation and Transfer of Residence
Transferring your residence to a low tax environment is one of the few remaining ways to legally minimise taxes.
Our services range from analysing and evaluating a transfer to assisting in taking up residence.
The most popular tax residence locations are
According to the tax laws of most countries the residence is one of the key factors in determining an individual's tax liability. The residence decides, if and to what extend somebody is taxable in a certain country.
This criterion can be used for or against the individual. Being considered a resident of a certain country can be very advantageous. In other cases, the possession of a residence (even a second one) can have undesirable tax and legal consequences.
In fact, expatriating and transferring your residence to a low tax environment is one of the few remaining ways to legally minimise taxes. As the vital and economical interests of many people are not limited to their country of origin any more, it appears to be logical to choose a residence which offers a low tax environment to protect the personal and family wealth.
Taxresidences is a one-stop service
designed to assist in analysing, evaluating and executing an expatriation and a transfer of residence
Consulting & Assistance
The more and more complicated international tax laws do no longer allow "canned solutions". Instead, the individual case has to be properly examined to explore the legal possibilities and to identify potential risks. Not rarely we are confronted with cases in our practice, where the client has followed the, well meant, tax and legal advise of acquaintances, without having the plan professionally checked. Often the results show, that they saved in the wrong place.
Therefore, any transfer of residence should be preceded by an evaluation. This first and most important step begins with an analysis of the client's individual situation. Then, the economic as well as private interests should be identified.
Depending on the individual situation, goals and preferences the new residence will be chosen. In general it is not enough to only look at the tax and legal situation in the new home country. Much more the interaction with the tax aws and rules of the originating country and the countries, where economical interests are located, will give the answers. Many countries provide tax specific rules for expatriates which have to be taken into account. Assets and sources of income might have to be relocated and restructured to optimise the tax saving effects. Sometimes minor details, which appear irrelevant to the non-specialised observer, can determine the results. The choice of the new residence will typically not only depend on tax issues. Personal criteria will and should influence the decision.
It will not always be possible to achieve a 100 % tax reduction. In some cases the result of the evaluation might even be not to move, but in most cases the transfer can bring a substantial reduction of the tax burden. Not rarely a tax free situation will be accomplished.
Transferring your residence involves important personal and financial steps, which should not be undertaken without a thorough analysis. A properly examined transfer shall allow the client to live calmly by taking advantage of the legal possibilities.
If the evaluation results in the decision to transfer the residence we can assist in the necessary steps on the location of choice. These typically involve:
Also contacts with insurance and real estate offices can be arranged.
The following pages contain introductory information about the currently most popular low tax or tax free residence locations, Monaco, Italy, Dubai, Malta, Portugal. This information is of general nature and cannot replace a detailed legal and tax analysis of the individual situation.
Dr. Andreas Bosse
31 Avenue Princesse Grace
MC 98000 Monaco