Tax Residency

Tax Residency is the legal status that determines which country has the right to tax an individual's income and assets. This concept is separate from citizenship and immigration residence rights.

Most countries determine tax residency based on the number of days present during the year, usually a threshold of 183 days, combined with factors such as the location of a permanent home, the centre of economic interests, and where the family resides.

A person can be a tax resident of multiple countries simultaneously, leading to the risk of double taxation. Double taxation agreements between countries are established to address this situation.

For international investors, sound tax residency planning helps avoid legal risks and optimise financial obligations. Changing one's place of residence should be carefully calculated before implementation.

Learn about the tax policy applicable to residents in an investment destination via our article on tax in Greece.