In the ever-evolving landscape of European residency options, it’s vital to stay ahead of the curve and seize opportunities beyond the traditional Golden Visa routes. Recent changes in countries like Ireland and Portugal have underscored the need for innovative solutions, which is where Beyond Global Partners, your trusted partner in residency and citizenship by investment, steps in. We’re here to make your journey seamless, ensuring you not only secure permanent residency but also maximize your tax benefits.
Digital Nomad Visas: A World of Opportunities
For those with the flexibility to work remotely, Europe offers a wealth of possibilities through digital nomad visas. Countries such as Portugal and Greece have introduced these visas, providing an extended stay for those working for foreign employers or clients. What sets Beyond Global Partners apart is our commitment to identifying locations that not only grant residency but also offer favorable tax treatment for foreign earnings.
Retirement and Tax Efficiency: A Perfect Match
Are you considering retirement in Europe? Beyond Global Partners recognizes that tax implications play a crucial role in your decision. Fortunately, several European destinations offer exceptional tax benefits for long-term residents, and we’re here to guide you every step of the way.
Greece: A Tax Haven for Retirees
Greece, one of the most coveted retirement destinations in Europe, extends a warm welcome to retirees. With a flat 7% tax on foreign source income, covering pensions, rents, and dividends, Greece ensures that you can make the most of your retirement income. This favorable tax rate remains in effect for 15 years, aligning perfectly with the average length of an active retirement.
Italy: The Charm of the South
Italy, a country renowned for its rich history and culture, also offers a tax regime that’s hard to resist. Beyond Global Partners brings to your attention the 7% flat tax rate on foreign source income. The only requirement? Settle in a southern Italian town with less than 20,000 inhabitants in regions like Abruzzo, Basilicata, Calabria, Campania, Puglia, or on the picturesque islands of Sicily or Sardinia. This remarkable tax benefit lasts for a decade, giving you ample time to savor la dolce vita.
The Power of Tax Treaties
Both the Greek and Italian residency programs are founded on solid tax treaties with the United States. These agreements prevent double taxation of the same income, meaning that if you choose to reside in Greece or Italy, you’ll pay just a 7% tax on income from U.S. investments or pensions, with this amount deducted from your U.S. income tax liability. Most European countries have such treaties with the U.S., ensuring a smooth and hassle-free transition. The only exceptions are countries in the Balkans and the Eastern European periphery.
Strategic Tax Planning
While tax treaties provide relief from double taxation, it’s essential to choose countries with competitive tax rates. Some nations impose higher tax rates than the U.S. for specific income brackets, making it crucial to select your retirement destination wisely. Beyond Global Partners goes the extra mile to ensure you receive the best tax benefits possible, aligning your financial well-being with your retirement dreams.
Maximizing Your Investment Portfolio
Moreover, we bring to your attention that 20 European nations impose no taxes on foreign dividends or capital gains income. Some countries levy a minimal tax, typically around 5%, on a portion of such foreign source income. If your primary source of retirement income is from these investments, your tax concerns will primarily revolve around the IRS.
Beyond Global Partners’ Secret Weapon
For the ultimate tax optimization, there’s a hidden gem that any American with a retirement account can leverage. Beyond Global Partners is excited to unveil this secret weapon in the coming months through our Global Citizen service.
In the world of residency and citizenship by investment, Beyond Global Partners stands out as the foremost authority. Our expertise, personalized service, and dedication to securing the best tax advantages for our clients make us the premier choice for those seeking permanent residency or a second passport in Europe and beyond.