Expat Guide
What is an Expat?
An Expat is a person who has moved from their own country of birth to a new country.
Why do people become Expats?
People become expats for many reasons. Among the most popular are:
- A desire to experience the world first-hand
- Interesting job opportunities not available at home
- A much better standard of living for the price
- Tax benefits of living overseas
- The appeal of more traditional cultures
Do I have to give up my citizenship to become an Expat?
Most expatriates choose to keep the citizenship of their birth. Many expatriates maintain dual citizenships.
Do I have to pay taxes in my home country?
Most countries do not levy income taxes on their citizens who have moved abroad.
The United States is a notable exception to this rule. However, the United States does grant a significant tax deduction to its citizens who choose to reside overseas for more than eleven months in one calendar year.
For more information on tax issues for expats, read the Expat Tax Guide.