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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Tax Preparer

Date & Time
  • event Date

    Thursday, February 9, 2023

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    110 minutes

Credit Information

  • BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.

  • BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).

$197.00
CPE
ALL

This webinar will take a detailed look at the most significant concerns of taxpayers considering retiring abroad. Our panel of international tax attorneys will explain U.S. expatriation requirements, the benefits and caveats of Golden Visa programs, and immigration considerations for moves to Puerto Rico, Portugal, Israel, and other popular destinations for advisers to taxpayers considering moving overseas.

Faculty

Stuart Anolik
Partner
FisherBroyles, LLP

Mr. Anolik has handled client matters involving international investment and finance, intellectual property migration, transfer pricing, infrastructure project finance, mergers and acquisitions, and international taxation. These clients range from start-ups to Fortune 500 companies, on various international securities and transactional matters, including multi-jurisdictional acquisitions and dispositions of business; cross-border joint ventures; and securities transactions and financings for the U.S., European, Asian, and Latin American companies. In addition, he provides consulting services to high net worth individuals in regard to estate planning, wealth preservation, and asset protection planning.

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Michael Pierson
Managing Partner, Global Corporate
FisherBroyles, LLP

Mr. Pierson is Managing Partner of the firm’s Global Corporate practice and oversees the corporate team located in each of the firm’s locations. He serves on the firm’s Executive Committee, is a member of the Diversity and Inclusion Committee, and serves as chair of the FinTech and Blockchain Executive Committee. The primary focus of Mr. Pierson's practice is acquisition, regulatory, and securities law matters for U.S. and non-U.S. banking, financial institutions, private fund, and corporate clients. Over the course of his career, he has advised U.S. and non-U.S. private funds, broker-dealers and investment management clients, from some of the largest and most prominent market participants to firms engaged in specialized aspects of the securities businesses, including FinTech companies and investment boutiques. Mr. Pierson serves as counsel to both emerging and established companies, family offices, and private funds, and he counsels blockchain clients on a variety of securities-law related issues.

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Sanford Posner
Partner
FisherBroyles, LLP

Mr. Posner has over twenty years’ experience working with employers and individuals on immigration matters. He works with clients to develop customized immigration strategies and has significant experience working with Fortune 100 Companies, SMEs, start-up businesses, pharmaceutical companies, technology companies, professors, researchers, musicians, and athletes. Mr. Posner is proficient with both non-immigrant and immigrant visas, and handles both immediate relative petitions and naturalization. He is a Founding Member of the Georgia Cannabis Trade Association.

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Description

Leaving the U.S. has consequences. U.S. citizens are obligated to pay tax on their income regardless of where it is earned. As a resident of a foreign country, a retiree could be subject to tax in two countries. A taxpayer can relinquish their citizenship by filing Form 8854, Initial and Annual Expatriation Statement, and paying an exit tax if required.

In addition to U.S. considerations, there are immigration considerations abroad. Many countries offer Golden Visa programs. These offer accelerated residency in a new country, often speeding up the foreign citizenship process and offering perks for relocating. Some require a capital infusion, job creation, or other investment in the country. If offered, each country's immigration policies and Golden VISA programs differ.

Portugal has one of the most popular Golden Visa programs. Depending on the particular option selected, it requires an investment of as little as 250,000 Euros, allows the investor to apply for citizenship after five years, and allows VISA-free travel in Europe's Schengen Area.

There are non-tax considerations of moving abroad as well. Language barriers can be a primary concern. Once a citizen of Portugal, for example, a resident is eligible for national health and education services.

Listen as our panel of experts reviews the chief immigration, income tax, and non-tax considerations of retiring abroad.

Outline

  1. Moving abroad considerations
  2. Immigration considerations
    1. Expatriation from the U.S.
    2. Destination country requirements
    3. Golden VISAs
  3. Income tax considerations
    1. Expatriation tax
    2. CFC considerations
  4. Destinations
    1. Puerto Rico
        1. Non-tax considerations
        2. ACT 60 Bona Fide Resident regime
        3. Tax considerations
    2. Portugal
        1. Immigration
        2. Non-tax considerations
        3. Tax considerations
    3. Israel
        1. Immigration
        2. Non-tax considerations
        3. Tax considerations
    4. Singapore
        1. Immigration
        2. Non-tax considerations
        3. Tax considerations
    5. Cost Rica
        1. Immigration
        2. Non-tax considerations
        3. Tax considerations

Benefits

The panel will cover these and other critical issues:

  • Immigration considerations of moving to specific countries
  • Golden VISA opportunities and caveats of moving to Portugal and Israel
  • Who is required to pay an exit tax
  • Strategies available to abate multi-national taxation

NASBA Details

Learning Objectives

After completing this course, you will be able to:

  • Determine who is required to pay an exit tax when moving abroad
  • Decide the tax consequences of moving abroad
  • Ascertain key differences in specific countries' Golden VISA programs
  • Identify elements of Portugal's Golden VISA program

  • Field of Study: Taxes
  • Level of Knowledge: Intermediate
  • Advance Preparation: None
  • Teaching Method: Seminar/Lecture
  • Delivery Method: Group-Internet (via computer)
  • Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
  • Prerequisite: Three years+ business or public firm experience preparing complex tax forms and schedules, supervising other preparers or accountants. Specific knowledge and understanding of international taxation including residency determination, foreign entity classifications, application of treaty benefits, as well as GILTI, Subpart F, and the related Section 250 deductions.

Strafford Publications, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.

IRS Approved Provider

Strafford is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).