Tax relief in other counties

OctoberTuesday

Hi everyone. Hopefully one of ye may be able to answer my questions.

I would like to know if you are an Irish citizen which country would be the best place to move to in order to pay less tax?

By the best place I mean which country could I most easily become a resident of or whatever it takes to qualify for their lesser taxation

I’m aware the Jersey Islands, Dubai and the Bahamas are a few places where Irish people could move to to pay less tax

Which countries though could I most easily qualify for their lesser tax laws - as in having to spend the least amount of time there before I’d qualify etc

The info is extremely hard to come by - I would like to have a general idea of how it all works before getting professional advice

useless

Revenue will still consider you to be Irish resident for 3 years after you leave the country. From citizens information:
If you leave the country, you will continue to be ordinarily resident until you have been non-resident for 3 continuous tax years.

https://www.citizensinformation.ie/en/money_and_tax/tax/moving_country_and_taxation/tax_residence_and_domicile_in_ireland.html#startcontent

relax carry on

You will also have the issue of domicile to consider. It's an area you'd would want to seek professional advice on to minimise your potential tax liability in whatever country you move to. You will also wish to remian tax compliant in both jurisdictions. Where you will source your income from when you move is something you will need to consider.

OctoberTuesday

Thanks for both the answers. I’m very interested in the 3 years part

So basically even if I moved to whatever tax haven tomorrow I’d still be tied down to the Irish tax system for 3 years no matter what?

So I couldn’t dispose of assets and avoid Ireland’s penal CGT rates until 2025?

relax carry on

OctoberTuesday wrote: »

Thanks for both the answers. I’m very interested in the 3 years part

So basically even if I moved to whatever tax haven tomorrow I’d still be tied down to the Irish tax system for 3 years no matter what?

So I couldn’t dispose of assets and avoid Ireland’s penal CGT rates until 2025?

You may wish to consider reading the below link for further information. If you are in the position to be seriously considering moving country because of your likely CGT liability, then you will be able to afford professional advice around that move as it's not something to be undertaken lightly.

https://www.revenue.ie/en/tax-professionals/tdm/income-tax-capital-gains-tax-corporation-tax/part-34/34-00-01.pdf

OctoberTuesday

So if someone moved to Jersey for 2 full years would that mean they wouldn’t qualify for the Irish tax anymore? I think someone must have spent 90 days on average in Ireland for the last 4 tax years?

If you went away for 2 full years and had been out of the country in the 2 years prior for a few holidays as well as business trips then someone would come under the 90 day threshold after just 2 whole years of being away

OctoberTuesday

So we’ll say 2 weeks out of Ireland on holidays in 2020
and then 3 week out of Ireland on holidays in 2021

Then just completely out of Ireland in 2022 and 2023

You’d average less than the 90 days in Ireland over the 4 years then