Taxes and Investment-Related Considerations for a Non-Resident Irish Citizen

SpatialPlanning

Hi all,
I'm living abroad and have been for quite a while now. I am married to an American and we have some small savings. We don't intend on retiring in Ireland and are unsure where we will end up. She has an investment account with a US based bank and I am looking into putting savings into an international brokerage account based in Luxembourg, perhaps.
My question is about taxes - I know that any savings put into the American brokerage account are liable for Capital Gains Tax. However, if I was to open an investment account based in Luxembourg, and invest in a portfolio of ETFs, would I be liable to pay any tax on the earnings? I have been in touch with someone who suggested that the account, were it to be solely in my name, would be virtually tax free. Does this sound right?

Thanks, in advance, for the advice!

CIARAN_BOYLE

You wouldn't be subject to any Irish taxes anyway.

Peregrinus

Yup. Your spouse as a US citizen may have a liability to US tax, but Irish citizenship doesn't, in itself, carry any liability to Irish tax. Unless you are resident or ordinarily resident in Ireland (or expect to be in the future) or are acquiring property or making investments in Ireland, you really don't need to think too much about Irish tax. You should be thinking about actual or potential tax liabilities in the country you live in now, and in countries that you think you might live in in the future.

Your spouse should be thinking about tax liabilities in those countries and in the US.

You might also have to think about US tax liablities if, on the strength of your marriage, you get naturalised as a US citizen, or acquire a Green Card. If either of those were to happen you would be treated as a "US person" for US tax purposes, even if not resident in the US.

SpatialPlanning

Thanks for the replies. 
I have one other question that hopefully someone can help me with. I have 2 bank accounts in Ireland where I usually keep my savings (Credit Union and AIB) as I move to a different country every few years. Is there any issue with earning money abroad and then 'parking' it in an Irish account?

Peregrinus

None, except that you;ll have to make a declaration of non-residence in order to avoid having DIRT deducted from the interest paid.