10 Rules to follow to secure your new tax residence
It's important to note that the rules for securing your new tax residence may vary according to your personal and financial situation, as well as your country of origin and new residence. It is therefore advisable to consult a tax professional or lawyer specializing in tax law for personalized and precise advice.
However, here are some general steps you can take to secure your new tax residence:
- eastCheck the non-tax residence rules: Make sure you understand the non-tax residence rules of both your home country and your new residence. You'll need to check whether you are eligible to become a non-tax resident, and whether you have to declare your assets and income abroad.
- eastApply for a certificate of non-residency: Once you've completed the formalities, you'll need to apply for a certificate of non-residency from the Ministry of Finance or tax authorities in your home country.
- eastDeclare your assets abroad: You'll need to declare your assets abroad, including bank accounts, shares, real estate, etc., as soon as possible.
- eastProvide information on your income: You will need to provide information on your income, including wages, pensions, interest, etc.
- eastPay taxes abroad: You will be required to pay taxes abroad on your income and assets.
- eastCheck customs rules: Make sure you understand the customs rules of your new residence and your country of origin. You'll need to check whether you have to declare the goods you bring with you, or whether you have to pay customs duties.
- eastCheck health regulations: Make sure you understand the health regulations of your new home and your country of origin. You'll need to check whether you have access to health care and whether you have to pay any health costs.
- eastCheck work rules: Make sure you understand the work rules of your new home and your country of origin. You'll need to check whether you have the right to work and whether you have to pay taxes on your earnings.
- eastCheck property rules: Make sure you understand the property rules of your new home and your country of origin. You'll need to check whether you have the right to own property and whether you have to pay taxes on your assets.
- eastCheck inheritance rules: Make sure you understand the inheritance rules in your new home and in your country of origin. You'll need to check whether you have inheritance rights and whether you have to pay taxes on your assets.
It's important to note that these steps are general and that the rules may vary according to your personal and financial situation, as well as your country of origin and new residence. It is therefore advisable to consult a tax professional or lawyer specialized in tax law for personalized and precise advice.
Here are a few examples of countries with specific rules for tax residents:
- eastThe United States has specific rules for tax residents, including reporting income and declaring assets abroad.
- eastCanada has specific rules for tax residents, including income reporting and foreign asset reporting.
- eastThe European Union has specific rules for tax residents, including the declaration of income and the declaration of assets abroad.
It is important to note that these examples are general and that the rules may vary depending on your personal and financial situation, as well as your country of origin and new residence. It is therefore advisable to consult a tax professional or a lawyer specialized in tax law for personalized and precise advice.
