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The following is an overview of some European countries which offer attractive conditions to business investors and entrepreneurs, persons of independent means, or highly qualified professionals who wish to obtain a residence and/or work permit. While these are the countries offering the most attractive conditions in our view, throughout Europe it is possible to start a new business, establish a branch or subsidiary of a foreign company, or invest in an existing business and thereby obtain a work permit. Likewise it is possible to obtain a residence permit if you meet the relevant requirements for investors or persons of independent means, which also vary from country to country. Every day, individual clients and companies as well as other law and consulting firms worldwide rely on us for professional advice on international residence solutions, tax planning, trust and corporate structures, real estate, and more. Let the combined expertise and global reach of our consultants and associates work for you. For further information or to arrange a private consultation contact us today.
Austria offers the possibility for persons of independent means to acquire full resident status in the European Union with minimal requirements. An Austrian resident permit allows its holder to travel to all Schengen states without theneed for a visa. After six years of legal residence, it is possible to apply for Austrian itizenship. Also, Austrian citizenship may be available within a shorter period of time, or even within months, for qualified individuals who contribute significantly to the interests of Austria. Please click here for more information.
Belgium is one of few EU countries left which do not tax private capital gains. Furthermore, because Belgium has double-taxation agreements with many countries, by settling in Belgium you may legally avoid all capital gains taxes on future profits from selling investments. Belgium offers an agreeable lifestyle and is conveniently located in the heart of Europe. The requirements for non-EU citizens to become Belgian residents are relatively strict. However, there are possibilities for substantial investors and wealthy individuals. Please click here for more information.
The purchase of real estate in the Italian enclave of Campione may enable you to establish residence in Italy relatively easily; however, Campione lies fully within Swiss territory and benefits from Swiss efficiency, stability and security in many ways. Campione is particularly interesting for persons of independent means. Resident foreigners enjoy most of the advantages of Switzerland and Italy while paying almost no tax. Please click here for more information.
A beautiful island located in a strategic part of the Mediterranean sea, Cyprus also offers attractive conditions for foreign investors to become resident within a very short time. As Cyprus has quite an extensive network of double-taxation treaties and it is particularly interesting for business with Eastern Europe. Please enquire for more information and advice.
Gibraltar offers a permanent residence programme for wealthy individuals who can show a minimum net worth of about GBP 1 million. They must purchase a suitable property in Gibraltar within 6 months of achieving residence status. Income tax for such residents is subject to a minimum tax payable of GBP 10,000 and maximum tax payable of around approx. GBP 20,000 per annum. Other worldwide income is not taxed in any way and there is no capital gains tax, no gift tax, no inheritance tax, nor is there any wealth tax in Gibraltar. Please enquire for further information and advice
Guernsey is an attractive location for private residence, but also for certain international businesses. Individuals with a right of abode in the United Kingdom (this includes all EU citizens), have the right to reside in Guernsey provided such persons comply with the local housing laws which create an artificially expensive housing market for non-locals. There is only a 20% income tax for individuals, and no higher rate of tax, no capital gains tax, no inheritance tax, no VAT, nor is there any wealth tax in Guernsey. Please enquire for further information and advice
The Isle of Man is one of the most stable countries in the world, with its parliamant, the Tynwald, being in continuous existence for more than one thousand years. The requirements for establishing residence in the Isle of Man are few and the maxium income tax rate for individuals is a mere 20% and will be cut to 15%. To promote new businesses in the Isle of Man, employees who locate there on assignment for up to three years will be taxed on Isle of Man income only. There is no capital gains tax, no gift tax, no inheritance tax, nor is there any wealth tax in the Isle of Man. Please enquire for further information and advice
The rental of appropriate accommodation and proof of sufficient funds may enable you to establish residence in Italy relatively easily as a person of independent means. Italy is a beautiful country to live in, but also a high-tax jurisdiction, and therefore various tax aspects have to be considered prior to moving there. Please enquire for more information and advice
Malta is one of the most attractive locations in Europe for tax-advantaged residence. Malta offers non-Maltese persons who can show an income in excess of US$ 25,000 per year the possibility of acquiring permanent residence status. Persons of any nationality are eligible to apply for residence, with no discrimination whatsoever. A permanent residence permit entitles the holder to reside permanently in Malta, but there is no requirement to spend any particular time actually residing in Malta. Permanent residence permit holders pay a flat tax at the rate of 15% only on the income brought into Malta and there is no tax on worldwide income or assets. Malta has an extensive double taxation treaty system with more than thirty countries. Please click here for more information.
Monaco has traditionally been the residence of choice of wealthy individuals and international celebrities. Since 1869 there are no income taxes, which is one of the main attraction of Monaco as a place of residence for high net worth individuals and families. The requirements to become resident in Monaco are not as strict as commonly thought. To do so, you must basically be able to afford its lifestyle, in particular the high rents and prices for real estate. To maintain residence status, it is necessary to be actually present in Monaco for some time during the year. Monaco is perfectly situated on the French riviera, and easily accessible by road, air, train and boat. Please click here for more information
Switzerland offers very interesting conditions to companies, investors and wealthy individuals. In many ways Switzerland is the ultimate choice for business and residence. Contrary to widespread belief, it is not more difficult to become resident in Switzerland than in most other European countries. There is the interesting possibility of a lump-sum taxation arrangement instead of the usual taxation on worldwide income and assets. The possibility of lump-sum taxation, but also the high degree of privacy and personal security enjoyed by all inhabitants, make Switzerland the residence of choice of many celebrities and wealthy individuals. Please click here for more information Residence in the Italian enclave of Campione d'Italia is a very attractive option to establish yourself effectively in Switzerland while benefiting from an even better tax environment.
The United Kingdom is the only major country in Europe where it is possible for non-domiciled residents to pay limited tax or even no tax at all. An individual who is resident in the UK for tax purposes but is not domiciled there is liable to UK tax only on income and capital gains arising in the UK, or on non-UK income and capital gains which are brought into the UK, and on certain transfers of UK property. Prior to establishing residence, one needs to be careful about pre-residence planning to minimise taxable remittances. The immigration categories include investors, business entrepreneurs, representatives of foreign companies, holders of work permits, retired persons of independent means who can show close ties to the United Kingdom, and others. Please click here for more information. The immigration laws of all European countries are extremely complex and continuously undergo revisions. The procedures can be unforgiving for the prospective resident who is not fully conversant with all the relevant legal aspects of their case. The use of an experienced and committed immigration lawyer/consultant will significantly increase the chances of success of an application. In the vast majority of cases, the use of a professional consultant makes the difference between gaining a permit and being refused one. |
