Most persons welcome the idea of changing their residence to increase their options for tax and estate planning or to achieve a better overall quality of life abroad.
Depending on your circumstances, changing your residence comes with implications considering that some regions are introducing emigration or exit taxes.
It could significantly impact one’s relocation plans.
Generally speaking, once an individual has left a country and has established residence in another, the former government can no longer tax the individual on income unless tests arouse the suspicion this individual hasn’t really changed his/her residence in practice, but only on paper.
One important exception is the United States of America that levies personal income tax based on citizenship, regardless of country of residence.
