Relocation Mistakes of the Wealthy
There are a lot of things to consider when moving to another country. If you’re considered one of the rich or super-rich (having a net worth of more than $500 million), relocating to another country involves many factors that need to be considered to even justify the move.
Recently, a Forbes.com article detailed three mistakes that rich and super-rich individuals can potentially make when relocating, according to Reaz Jafri, CEO of Withers Global Advisors.
- Not getting a comprehensive analysis of the various options in the jurisdictions that offer residency and/or citizenship.
- Failing to understand tax implications of being a resident and/or citizen of a particular jurisdiction.
- Looking at a second citizenship as an option, instead of denouncing U.S. citizenship.
To read the full article, click here.
If you’re one of the wealthy (or just normal people like us) moving to another country, our international division can help with that!