Private clients are increasingly international and the world is becoming even smaller for such high-net-worth individuals (HNWI). Further, their family members, business interests, investments and real estate are spread worldwide, and it is not always the case that they are located in the same jurisdiction.
Although such HNWIs relocate for many different reasons tax implications remain one of the most critical aspects to consider. In this respect, governments are using personal tax treatments to attract such HNWI, their families and investment to their countries. However, it is crucial for HNWIs to plan in advance for all the tax implications to avoid unexpected and unwanted surprises.
Such tax implications are typically threefold such as, the departing jurisdiction, the landing jurisdiction and any other jurisdiction that the HNWIs have a nexus. Consequently, since tax is an international concept, understanding tax regimes across jurisdictions remains important in facilitating global mobility.
Consequently, since tax is an international concept, understanding
tax regimes across jurisdictions remains important in
facilitating global mobility.
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