MFO strikes partnership deal for Russian clients of Intesa

As the dust settled on the British and French elections, Italy emerged as an attractive destination for global wealth. The country did it with sprezzatura, by offering a Special Tax Regime which is a flat tax rate of €100,000 for non-doms on income from abroad, rolling out an Inpatriates Regime – to attract returning Italian bankers – with a 50% discount on taxable income, and by continuing with investment or ‘golden visas.’ First introduced in 2017, these measures seem to be supported (for now) by the Italian political establishment despite political differences.

This is the second in the two-part series on the proposed tax changes in the UK affecting non-domiciled persons. It will cover Inheritance Tax and Trusts. For the explanation of the new FIG regime, please see the first part here.

This article aims to provide some clarity on the proposed tax changes in the UK affecting non-domiciled persons. The reader may want to scroll to the diagrams below that show graphically criteria for the proposed tax changes.