Legal Tax Benefits by Expatriation and Transfer of Residence

Consulting & Assistance

I. Consulting

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.

II. Assistance

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:

bank account

residence permit

passport change

driver's licence

car registration

Also contacts with insurance and real estate offices can be arranged.