As another year passes,  we are seeing a lot  of clients take time to  reflect and reconsider  their priorities for 2022. The last  two years have been a time of  uncertainty and disruption, but  some normality is starting to  creep back into our lives.

As we prepare for the new year,  many of you might be considering  a move of residence and/or  alternative citizenship – as a  means of easing travel. You may  feel that a time for relocation is on  the cards, and a better destination  may suit you and your families,  now priorities have changed, and  lifestyles are different to what  they used to be.

One particular trend we have  seen over the last 12 months  is the rise in 'digital nomadism'.  Working from home has shown  us all that in reality, we can work  anywhere. And anywhere could  be any destination in the world.  This edition considers Cyprus,  Malta, and Portugal as popular  destinations for entrepreneurs,  business owners, and start-up  companies, who have no ties  elsewhere, and plenty of freedom.  These countries have specifically  introduced Digital Nomad visas  which allow individuals to work  and live abroad yet continue to be  employed in their original country.  Professional advice should be  taken on all aspects of a potential  move of residence in such  circumstances as there could  be tax consequences for both  the individual and the company  they work for, as a result of that  move of residence. In the case of a "Nomad Employee" one needs  to consider whether the duties  carried out by the employee in  their new country of residence  would change the tax residence of  the employer company, or create  a permanent establishment for  the employer company, in the  new country of residence of the  employee.

We also take the opportunity  to remind our readers of the  temporary cost reduction for the  St Kitts & Nevis Citizenship by  Investment programme, which is  available until 31 December 2021.  The programme is extremely  popular as it allows applicants to  apply for a second passport for  them and/or their family, without  the need to travel to St Kitts &  Nevis or commit to any visiting  requirements during the year  once they have received the  passport. In addition, citizenship  can be passed onto future  generations which is a unique  and very attractive benefit to any  family who goes down this route.

We finish this edition looking at  two jurisdictions which remain  as popular as ever: Switzerland  and the UK. Both rank highly in  regard to places to live, both offer  advantageous taxation systems,  high quality of life, healthcare and  education systems, and benefits  to companies also relocating or  starting up.

More news from the Dixcart Group  will follow in the next month, but  from the Dixcart Domiciles team,  we would like to wish you all a  joyful festive period and a happy  new year.

Why Digital Nomadism Is On The Rise? (Dixcart Domiciles - November 2021)

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.