For example if you lived in Spain and had a current portfolio of over 4m euros if you tried to leave Spain to avoid capital gains tax in future you will be hit with Spain's 'Exit Taxation'. You will be taxed on unrealized gains in your stock portfolio at 23%. However if you move to another EU country you will only need to declare and be taxed on gains if you sell within 10 years or then move outside EU...lol. Still a long time to be watched by home country.
this sounds nice in theory however without income you can't do much (own stuff, invest, do business, ...) - mind you elaborate on your strategy?
ok, but anytime you want to buy or invest money in first world country you're asked where is the money coming fromIm thinking having one of your companies pay for your life as 'representation services' is the way to go.
Also if you move to a 0tax jurisdiction and open bank accounts there with lets say your permanent resident card then those accounts will not be CRS reportable so who cares what Spain says.
Hummm....I would be interested to know how Spain plan to enforce any of this. If you leave Spain and EU, cut ties and never come back and stop communicating with the taxman or filing taxes (as non-resident if they require this).
ok, but anytime you want to buy or invest money in first world country you're asked where is the money coming from
Only if you leave to a "paraíso fiscal" according with the Spanish goverment. What people do: first they live for 5 years in another EU country or a country that Spain has a "convenio de doble imposición" with: Convenios de Doble Imposición (10-11-2022)Is it true? Upon (fiscally) exiting Spain, they impose an additional 4 year fiscal residence on you?
Exactly. That is what people do. They use a "país puente" before living in a "tax heaven" country.