Areas of Expertise
Citizenship & Residency
As so many of our clients have international backgrounds and assets, complexities frequently arise as to where they and their families are resident or domiciled and what tax obligations they owe as a result. We guide clients through the relevant questions and issues to help them determine their domicile status and tax obligations, and to assist them explore ways in which they can optimize their situations in order to address wealth and succession planning considerations. In particular, this can often be achieved by modifying tax residency through expatriation and alternative citizenship options.
As our tax law experience spans across multiple jurisdictions, we are well positioned to advise clients fully on how alternative citizenships can help mitigate their tax exposure. We assist clients in all stages of an expatriation and tax residency relocation – this includes managing the entire process through a detailed step plan covering pre-immigration tax planning, exit and pre-arrival tax planning in the destination country, as well as accompanying the client to all administrative related meetings.
Alongside alternative citizenship options, we have significant expertise in assisting clients to find stable structuring solutions to preserve their assets from additional tax liability as a result of tax residency changes. In particular, we advise many clients who travel and relocate regularly as a result of their profession, including artists, athletes and various other professionals, which results in continuous changes in their tax residency and tax obligations.
Additionally, we offer advice on the location of residence of family offices and trust companies used for wealth management (please see Fiduciary, Trust and Succession Planning for further information on the use of trust companies), and are also happy to assist individuals with the process of obtaining international visas, should their needs require.
Examples of our work include:
Advising a high-net-worth U.S. national living outside of the U.S. for many years to obtain alternative citizenship in an E.U. country through a government investment initiative and secure expatriation from the U.S. As a result, the individual was released of future tax obligations in the U.S. and is now able to benefit from free movement in the E.U. (as an E.U. citizen).
Assisting several Latin American families to secure E.U. citizenship to allow them the ability to travel without strict visa restrictions and help improve their personal security.
Advising an individual who wished to develop a startup business on his relocation from Spain to the U.K. such that he could obtain resident and non-domiciled status. This included restructuring several large private and financial investments in a tax efficient manner, from both a Spanish and U.K. tax perspective, and achieving a tax efficient succession scheme.