TheRIT wrote:We're looking at 2 locations with the final decision needing to be made within a couple of months:
- Spain. Dividends and capital gains would be taxed on both ISA and Trading Account. Depending on level of wealth could also see a wealth tax.
- Cyprus. No CGT on investments listed on regular stock exchanges. Also if you're a non-domicile of Cyprus (we are) then no 'tax' (called a Special Contribution for Defence) on dividends/interest for the first 17 years of residency. No wealth tax either. Interestingly they do have CGT on immovable property situated in Cyprus (with a tax free limit) so if you want to live in a big house then this could be a consideration if Cyprus gets some house prices gains/inflation.
Two obvious low tax destinations are Dubai and Hong Kong. Neither has CGT or IHT. Other nations that don't have IHT include Australia, Austria, Canada and even tax-loving Sweden, although other taxes can be high in those places. Various central American nations offer low taxes and easy citizenship to economic migrants e.g. Costa Rica, Belize, Panama.
Or the good ole' USA. After Trump's tax reform, it has relatively low taxes especially if you choose a State with no State income tax (AL, FL, NH, SD, TN, TX, WA, WY). Capital gains and dividends are taxed at 15%, and there is no Estate Tax unless you leave more than $11 million.
In such a situation I would close any ISA or other UK account and move the money from the UK. That way a future punitive and confiscatory UK government could not touch your assets.