What are the pros and cons of moving your tax residence to another country?

The advantages and disadvantages of transferring tax residence to another country depend on the personal and professional situation of the taxpayer, as well as the tax rules and conventions in force in the countries involved. In general, some of the possible advantages are:

  • The benefit of lower tax rates, deductions, reliefs or exemptions provided by the country of the new tax residence.
  • The avoidance of double taxation, i.e. the taxation of the same income or capital gains by two or more countries, as long as there are double taxation agreements between the countries.