Chase Buchanan Private Wealth Management, the global financial advisory firm specialising in independent support for expatriates and high-net-worth clients, has re-released its broad catalogue of complimentary, informative guides, updated for 2023.
The wealth management firm has a network of locations throughout Europe and North America, with full EU regulation, and provides a wide array of services for both private and corporate clients. The company has created an extensive knowledge hub and directory of free downloadable country specific guides, including expat tax guides, pension and residency guides to provide insights into varied aspects of financial planning.
The Importance of Expat Tax Planning and Advice
In an increasingly connected world, tens of thousands of people relocate every year, whether to seek career or business opportunities, take advantage of efficient tax schemes, move to warmer climates with their families, or retire to a relaxed and comfortable destination.
Among the many complexities, tax planning plays a vital role since the contrasts and variances between countries and tax offices are expansive, and any misconceptions about how an expat's tax obligations and reporting liabilities will change can carry serious consequences.
Examples include:
- Wealth and property taxes - payable annually in some countries.
- Differences in how income is taxed and the bands or rates applied.
- Changes to estate planning and exposure to inheritance taxes.
- Managing assets located in different countries from the place of residence.
- Taxation arising on foreign-sourced income, investment returns and interest earnings.
- Liabilities to pay tax on dividends, business profits and overseas rental properties.
This list is far from comprehensive, and the specificity of tax planning means that every expat considering a future location or already living overseas can benefit from professional advice to ensure they have a clear idea of how their tax position will change.
Free Expat Tax Guides Updated for 2023
Chase Buchanan's expat tax guides cover Belgium, Cyprus, France, Malta, Portugal and Spain, with revised guides available to download now from the firm's website.
Each guide details factors such as post-Brexit updates, recent changes to tax regimes, pension income, selling and owning property at home and abroad, dual taxation, and income and wealth taxes, among many other topics.
Understanding Tax Residency as an Expat
A common misunderstanding is that any person living overseas as an expat with a valid visa, dual citizenship or work permit will automatically become a tax resident of that country without ongoing reporting requirements or tax payment obligations in the UK or their country of origin.
In fact, tax residency is an entirely separate field from residency or citizenship and often requires an in-depth analysis of the individual's circumstances, such as:
- Where their primary residence is based.
- How many days they spend in each respective country.
- Where their main income originates from.
- If they own property or other assets in different jurisdictions.
- Familial and business ties to a country.
Alongside the re-published expat tax guides, Chase Buchanan has also updated a series of residency guides, addressing the details any foreign national living in Cyprus, France, Portugal or Spain should be aware of.
As with tax guides, residency guides are all entirely free and accessible immediately, with a simple, obligation-free download form to enable readers to contact the wealth management specialist for further assistance.
Accessing Independent Expat Wealth Management Support
The most recently available ONS statistics indicate that almost 800,000 British citizens live in EU countries, excluding Ireland, with a similar number living permanently in the US and Canada.
Over recent years, global changes in taxation frameworks and reporting, such as the Common Reporting Standard (CRS) and the Foreign Account Tax Compliance Act (FATCA), make it more important than ever for expats from any home country and living anywhere in the world, to be fully informed about their tax position.
While life as an overseas expat can be attractive for many reasons, often with advantageous tax treatments available, non-disclosures can lead to investigations, penalties and other outcomes.
Chase Buchanan Group CEO and Head of Investment Advisory, Lee Eldridge, says: "Knowledge of exemptions, allowances, varying rules and tax treatments is an excellent way for any foreign national to structure their income, investments, retirement planning and assets favourably, with the assurance that their tax affairs are fully compliant.
We work with various clients, from those looking for comprehensive support with structuring investment portfolios or business interests to expats who require impartial assistance to understand the pros and cons of international pension transfer solutions to protect their financial future.
Our guides are a free, accessible resource to share some of the most meaningful information, and we welcome all interested parties to download as many guides as they wish, to peruse in their own time.”
Chase Buchanan Wealth Management publishes further on-demand guides covering areas such as offshore investment, pension planning, health, income and life protection and planning for education fees.
Read more about Chase Buchanan - Chase Buchanan Private Wealth Management Partners to Provide Expert Advice to Expats
Media Contact:
Chase Buchanan Ltd
+357 2501 0455
About Chase Buchanan Private Wealth Management
Chase Buchanan is a highly regulated wealth management company who specialises in providing global finance solutions for those with a global lifestyle. We are global financial advisers, supporting expatriates around the world from our regulated European headquarters, and local offices across Belgium, Canada, Canary Islands, Cyprus, Malta, Portugal, Spain, UK and the USA.
Chase Buchanan Ltd is authorised and regulated by the Cyprus Securities and Exchange Commission with CIF Licence 287/15.
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Source Company - https://chasebuchanan.com/
