People relocate for many different reasons – climate, education, life style and business opportunities – and different locations appeal to different people. Acknowledging what is going on in the wider world is relevant now more than ever and in the new wealth paradigm, our latest research identifies stability as the most influential of the many factors driving behaviour.
During 2020, a year when relocation was not an option for most of us, how did attitudes towards relocation and the pros and cons of certain jurisdictions change?
The consensus view from our World of Private Clients report is that taxation is always one consideration, with 64.8% of survey respondents identifying the domestic tax landscape as an influencing factor. But rarely, if ever, is it the main consideration. “Stability trumps low rates,” explains one legal adviser, while another asset manager warns that “if you move purely for tax, you might well find yourself moving back again before long”.
You can read the full Relocation chapter of our latest research:
Read chapter 2 of our reserach – Relocation
Back to the full report