The Role of Citizenship in Determining Tax Residency - CBI Index
LONDON, March 12, 2019 /PRNewswire/ -- Leading international tax advisory firm Ernst & Young (EY) released a report today clarifying the difference between tax residency and citizenship an important distinction to make at a time when citizenship by investment (CBI) programmes are often erroneously characterised as tax residency programmes.
- LONDON, March 12, 2019 /PRNewswire/ -- Leading international tax advisory firm Ernst & Young (EY) released a report today clarifying the difference between tax residency and citizenship an important distinction to make at a time when citizenship by investment (CBI) programmes are often erroneously characterised as tax residency programmes.
- Three: citizenship is not a factor in qualifying a person for tax residency in a number of CBI jurisdictions, namely Cyprus, Malta, Dominica, St Kitts and Nevis, and St Lucia.
- EY's report provides examples of how, by their own legislation and caselaw, CBI jurisdictions separate tax residency from citizenship.
- In the Caribbean CBI jurisdictions, "it is clear that citizenship is not a relevant determinant of [tax] residency."