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Non Habitual Residence

Various tax advantaged locations are listed below including a high level over view of their tax regimes which are subject to change / correction.

There are specific alternative tax regimes in some of these jurisdictions that may be available to non citizens that can bring additional benefits. A typical example of this is the Non Habitual Residence schemes that can in certain circumstances be availed of in countries such as Portugal and Malta.

ANTIGUA & BARBUDA

• Individuals are taxed on income derived or sourced from the country only

• Capital gains are not subject to tax

• No capital duty, capital acquisitions tax, inheritance tax, net wealth/net worth tax

• Treaties are in force with CARICOM and the United Kingdom

BULGARIA

• Non-residents are taxed only on Bulgaria-source income

• Individuals who have a permanent address in Bulgaria but whose center of vital interests is not in the country are not considered a Bulgarian tax resident

• No stamp duty, capital duty, wealth/net worth tax

CYPRUS

• Property tax ranging from 0,6% to 1,9%

• Transfer tax on properties ranging from 3%-8%

• A non-resident individual is taxed on Cyprus-source income only

• Progressive tax rates imposed up to 35% on incomes above EUR 19,500

• No capital duty, capital acquisitions tax, inheritance/estate tax, wealth/net worth tax

DOMINICA

• No capital gains, no property tax, stamp duty, capital acquisitions tax, inheritance tax, net wealth/net worth

• Non-resident individuals are taxed on income derived or sourced in Dominica

• Tax treaty is in force with CARICOM

GREECE

• Non-residents are taxed on Greece-source profits only

• No capital duty, no net wealth/ net worth tax

• Stamp duty for individuals is 3,6%

• Property taxation includes a main tax depending on the characteristics of the property and an additional tax calculated for properties value exceeding EUR 300,000

• Inheritance tax ranging from 1-10% for close relatives

GRENADA

• Non-residents are taxed on Grenada-source profits only

• No capital gains, stamp duty, capital acquisitions tax, no inheritance tax, net wealth/net worth tax

• Real property tax is ranging 0-0,5% depending on the property’s use

HUNGARY

• Foreign resident individuals are taxed on Hungarian-source income only

• The general personal income tax rate is 16%

• No capital duty

• The tax for residential real estate property purchases is 9%

• Inheritance is fully exempt in case of close relatives, otherwise is 18%

MALTA

• Persons who are resident or domiciled in Malta are taxable on their income

• No capital duty, real property tax, no inheritance, net wealth/net worth tax

• Tax is generally due on any gain on the transfer of property

PORTUGAL

• Non-residents are taxed on their Portuguese-source income only

• Real estate income is taxed at a flat rate of 28%

• A municipal tax is levied on property sales and transfers

• 10% stamp duty on inheritance/estate tax with exceptions on a few cases

• No net wealth/net worth tax

SPAIN

• Non-residents are taxed on Spanish-source income

• For capital gains progressive rates apply

• Stamp duty is applicable at 0,5-1%

• Capital acquisitions tax is 7%

• As real property tax the municipal authorities levy a real estate tax, with a temporary surcharge of up to 10%

• Inheritance estate tax ranges from 7-34%

ST. KITTS

• No personal income tax, capital duty, capital acquisitions tax, inheritance/estate tax, net wealth/net worth tax

• Property tax ranges 0,2-0,3% depending on the property’s use and location

• Stamp duty on the transfer of real estate property ranges from 2% to 18,5% and payable by the seller

• Tax treaties are in force with CARICOM, Monaco, Switzerland and the United Kingdom