These Are the Best Countries for Wealthy Expats
The UK’s move to end its system of preferential tax treatment for wealthy foreigners puts the spotlight on other countries that offer benefits and amenities for the global elite.
The UK announced Wednesday that it would scrap its non-dom status, which allows people who live there but have permanent residency abroad to avoid taxes on their foreign assets for 15 years.
The overhaul of a system that has provided preferential treatment for wealthy foreigners comes as the growing wealth gap in many western countries is pushing some to restrict tax and citizenship benefits aimed at expats. Portugal last October announced plans to get rid of its non-habitual resident program, a policy that let foreigners pay lower income and pension taxes than locals for 10 years.