Planning to immigrate? ✈️ Read this!

02-11-2022

Having more than one passport means you need to pay taxes in several countries?

Not necessary!
Generally speaking, if you are a tax resident of a jurisdiction,
you may be required to pay tax in that jurisdiction.

But, even if you are not a tax resident of a certain jurisdiction,
if you have purchased property for rental income there,
you may still need to pay relevant taxes in that jurisdiction

What happens when you become a tax resident?

When you become a tax residence,
some countries may levy tax on your worldwide income,
common known as “worldwide tax” (Note there may be exceptions).

                             
Worldwide income is the income earned from all sources, from anywhere in the world.
That means not only your salary.
If you have other sources of income from a foreign country.
For example, rent, interest, dividends ….will all be included in the worldwide income