Tax planning for individuals is a set of measures aimed at optimizing the tax burden by organizing financial flows and using tax benefits. In the course of providing this service, we analyze existing tax liabilities, develop individual solutions and assist in obtaining special tax regimes. Our service allows individuals to maximize the benefits of existing international and national tax systems while ensuring full compliance with the law.
Stages of service provision
- Analysis of the client’s financial condition
- Gathering detailed information about the client’s income, expenses, assets, and liabilities.
- Identification of sources of income and types of assets.
- Assessment of the existing tax situation.
- Determining the current tax burden
- Calculation of the effective tax burden…
- Analysis of tax benefits and deductions to which the client is entitled.
- Development of an individual tax strategy:
- Determining the client’s financial goals for the short and long term.
- Analysis of the possibilities of creating holding structures and companies for the effective accumulation or protection of assets.
- Analysis of double taxation agreements (DTAA).
- Implementation of the plan
- Registration of special tax regimes in the country of residence.
- Registration of withdrawal from tax residence, migration support.
- Establishment of holding companies (Cyprus, Malta, Luxembourg, etc.).
- Registration of holding and subsidiary companies in accordance with the chosen strategy.
- Preparation of contracts, financial statements, requests to registration and tax authorities, charter documents, instructions for the distribution of functions between the holding and subsidiaries.
- Redistribution of assets in accordance with the new structure.
- Obtaining confirmation of tax residency in the relevant jurisdiction.
- Issuance of a tax residency certificate, support in the application of DTAA benefits.
When analyzing a client’s situation, we also consider the possibility of applying special tax regimes. The choice of the optimal regime requires a comprehensive approach and, in particular, must take into account the client’s preferences regarding the country of residence. Our specialists provide services to support obtaining special tax statuses in various jurisdictions, including:
- Non-Domiciled (UK, Cyprus): a status that allows to reduce tax expenses on income earned abroad.
- Beckham Law (Spain): benefits for foreigners moving to Spain.
- Flat Tax Regime (Italy): a fixed tax for wealthy individuals, which will also significantly reduce the tax burden for some.
- Lump-sum Taxation (Switzerland): a simplified taxation regime for wealthy residents.
- NHR (Portugal): a status with numerous tax benefits for new residents.
Why tax planning services are useful for clients
- Thanks to competent tax planning, you can significantly optimize your tax burden, which will increase your profits and allow you to invest the money you save.
- Professional tax planning will help you avoid fines, penalties and other troubles with the tax service.
- Tax planning is tailored to your specific needs and financial situation.
- Tax planning can help you optimize your business structure and make it more efficient.
When is it recommended to apply for this service
- You have international income or assets and are looking for ways to optimize their taxation.
- You are planning to move to another country and want to take advantage of its tax benefits.
- You are a high net worth individual seeking to minimize your tax burden.
- You are planning to obtain residency status in a special tax regime, such as Non-Domiciled, Flat Tax or NHR.
Tax planning for individuals is not only a way to properly plan your tax burden, but also an opportunity to ensure stability and security for your finances and assets in the long term. Our experts will help you choose the best tax planning strategies and take full advantage of special tax regimes.
