What does it mean to be an expatriate? Part 1
Do you want to leave your home country because of taxes, limited work opportunities, or do you just have a desire to live a different life? Do you want to find better options for a better life elsewhere? Are you planning to make this happen? If so, you are part of a new trend of people called expatriates.
The dictionary definition of the term “expatriate” or “expat”, means one who gives up their residence or citizenship. As suggested, the reasons are often for tax benefits. Nowadays expatriation is more and more common. People are moving to a place that makes financial sense to them, a place where there is less government interference, and a place where they can find better economic opportunities.
The trend is that many people feel that they are working harder and longer days with no real benefit in return. Government regulations are becoming stricter and they seem to be impinging more and more on one’s personal life. It stands to reason then that one might start looking at other opportunities with less taxes or even tax benefits for investing in a new land. In many of the...