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Tax residence: the advantage of becoming tax resident in Luxembourg in 2014 by John Theron
Living in Luxembourg
Luxembourg is a founder member of the European Union and has the advantage of being a European country with a high standard of living and a pleasant environment. Luxembourg has a very international feel due to its geographical location between Belgium, Germany and France, giving a strategic advantage when conducting business in Europe. It is well known for its investment funds (ranked second in the world in this sector) and for life insurance plus the excellence of its regulatory system, making it a financial destination of choice. Luxembourg is AAA rated by Standard & Poor's, the credit rating agency (December 2013).
Luxembourg is also one of the richest countries in the European Union as was shown in the latest Eurostat study, published in December 2013.
In general, tax residence in Luxembourg is worthwhile for both people who live off investment income and for working people who wish to manage their businesses from Luxembourg.
The two major tax advantages of Luxembourg are:
- A fixed tax rate of 10 % on interest on financial investments and an absence of wealth tax.
- Option to structure one's assets and business via different vehicles such as holdings like the SOPARFI (investment holding company - société de participation financière).
The formation of a company or a holding in Luxembourg is advantageous for people conducting business in Europe or who wish to invest in Europe.
A SOPARFI holding is a highly attractive structure with the advantage of the parent/subsidiary system for Europe based companies.
John Theron is an international firm specialising in change of tax residence (relocation). It supports people wishing to change their country of residence and handles the entire procedure from both a legal and practical point of view. It also manages the formation of companies, holdings and trusts.
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About John Theron
John Theron is an international firm specialising in expatriation for private individuals in over 19 countries. The firm also covers the process of change of nationality and provides fiduciary services, including the formation of companies, opening of bank accounts and fiduciary management.
John Theron : http://www.johntheron.com
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