Not sure if this is the right section to put this.
I've been thinking of moving abroad and I'm getting close to retirement. Technically, moving is easy enough. But I was wondering about the red tape and have a few questions. I'll get professional advice if we go ahead but thought this would be a good spot to get initial information.
1: I've worked in Ireland all my life. If I retire abroad can I get the state pension or does that go away when I move abroad. If the country is outside of the EU does that make a difference?
2: To be tax resident outside of Ireland I know I have to be outside of the country for 3 years. How does that work. Do I just get the equivalent of the PPSN from the new country and 3 years later any taxes on income I receive are due there instead?
3: I have money invested in shares and I make money from that trading and the dividends. This will continue after I retire. After 3 years if I sell shares when I'm tax resident in another country would any tax be due in Ireland as I was here when I initially invested.
4: I would like to keep our house, 1: our daughter lives here and 2: we can use it whenever we come back. Would that cause any complication with Revenue. I know we'd have to charge her rent and couldn't just gift her the place and pay tax on that but I can figure that out.
5: I'd imagine we'd come back to Ireland a couple of months a year. I don't think that's any issue but just mentioning it in case it is.
Is there anything else financially that I'd need to consider or any major gotchas?
I've been thinking of moving abroad and I'm getting close to retirement. Technically, moving is easy enough. But I was wondering about the red tape and have a few questions. I'll get professional advice if we go ahead but thought this would be a good spot to get initial information.
1: I've worked in Ireland all my life. If I retire abroad can I get the state pension or does that go away when I move abroad. If the country is outside of the EU does that make a difference?
2: To be tax resident outside of Ireland I know I have to be outside of the country for 3 years. How does that work. Do I just get the equivalent of the PPSN from the new country and 3 years later any taxes on income I receive are due there instead?
3: I have money invested in shares and I make money from that trading and the dividends. This will continue after I retire. After 3 years if I sell shares when I'm tax resident in another country would any tax be due in Ireland as I was here when I initially invested.
4: I would like to keep our house, 1: our daughter lives here and 2: we can use it whenever we come back. Would that cause any complication with Revenue. I know we'd have to charge her rent and couldn't just gift her the place and pay tax on that but I can figure that out.
5: I'd imagine we'd come back to Ireland a couple of months a year. I don't think that's any issue but just mentioning it in case it is.
Is there anything else financially that I'd need to consider or any major gotchas?