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  • Relocation

Relocation

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

 

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Global opportunities for relocation

Global Opportunities for Relocation provides an overview of tax regimes around the world. Take a look at our interactive global map to see five broad types of tax regime – distinguishing between:

  • Low tax/no tax Countries that offer a headline rate of tax on income and capital gains of 20% or less
  • Remittance basis Countries that offer a regime whereby foreigners can pay tax on their foreign income or capital gains in accordance with the amount remitted to that country   
  • Favourable for new residents Countries that offer tax breaks for new residents to their country on passive income and capital gains, or on pensions and/or employment earnings
  • Lump sum Countries that offer a lump sum tax regime where an agreed amount of tax can be paid on an annual basis regardless of actual income earned and capital gains realised
  • None of the above Countries which do not fit into any of the above four categories
  • Other Countries which have a BDO presence but have not been covered on this map