How to move to another country for permanent residence without mistakes and problems

As you know, moving is equal to three fires and one flood. It is even more difficult to switch from one country to another, as legal issues are added to the traditional travel fees and solving problems with new housing. In another country, the legislation differs from the usual realities. The algorithms that have been tested and tested in Russia stop working, and you need to learn how to live by the new laws. Experts recommend that after obtaining a residence permit or permanent residence in Greece, Spain or any other EU country, it is necessary to carefully and consistently resolve all issues with the change of citizenship and familiarize yourself with the laws. If necessary, hire a financial advisor. Work out a strategy to eliminate financial risks when moving to another country.

How to change your tax status painlessly

The most common mistake, which is accompanied by considerable financial problems and the threat of deportation later, is a change in tax status. Russian citizens, accustomed to paying tax bills automatically, often forget to notify the Federal Tax Service of the Russian Federation and the tax authorities of their new country of residence about obtaining permanent residence. Meanwhile, 180 days after entering the country, a new citizen is required to register with the local tax service and make payments in accordance with the laws of that state. For example, in Greece, instead of the standard rate of 13%, there is a flexible, progressive system that depends on income level.:

• minimum up to 10,000 euros per year – 9%;
• from 10 to 20 thousand euros – already 22%;
• next The threshold is up to 30,000 euros – 28%.

And so on, up to 44% with incomes over 40,000 euros per year. In turn, the tax service of the Russian Federation must be notified of the change of the tax presidency.

What to do when moving to another country for permanent residence

• Make an appointment for a consultation to a competent lawyer or tax expert specializing in the tax legislation of the chosen country. The specialist will tell you about the specifics of taxation and advise you on the optimal strategy for changing your residence.
• Carefully familiarize yourself with the laws of the chosen country. In particular, the tax section. You should not hope for "maybe". As a rule, new citizens are carefully monitored and trouble with the law can lead to considerable problems.
• Calculate all financial risks, taking into account the legislation of another country. As already mentioned, the EU countries have a progressive tax rate – the higher the income, the higher the taxes. The maximum rates of some European countries may cause shock among unprepared Russians. So, in Sweden, the income tax is 61.85%. Denmark is not far behind – 55.8% and Germany – 47.5%. And in China or Spain, the maximum rate is 45%. In addition, you may need to pay taxes on all income earned before moving to the country and changing residence.
• Find out and strictly observe the deadlines for submitting a notification of a change in tax status in a given country. Tax legislation differs in different countries of the European Union and the world. There are their own requirements for foreigners who have obtained a residence permit, permanent residence, "digital nomad" visas or citizenship.
• Notify the tax service of the Russian Federation about leaving the country and changing the status of a tax resident, and the intention to pay taxes in another country.
• Try to find an experienced tax consultant at your new place of residence or before moving. It will help you choose the optimal tax payment scheme depending on your investments, business, and income level. He will recommend how to reduce or compensate for the tax burden. He will describe step by step all the steps for a painless change of tax status and further life in a new country.

Employees digital-nomad.gr We remind you that the easiest way to obtain permanent residence in Greece or any other EU country is to obtain a residence permit or a Digital Nomad visa, which gives you the legal right to long–term residence. After the naturalization period expires, and in Greece it is 7 years, you can apply for permanent residence.