I recently started investing and was really surprised (ok, not really) by the high capital gains tax rate in Ireland. Especially when it comes to ETFs. At 41% plus a "deemed disposal" every 8 years is just nuts and really kills your profits.
So my question is quite simple, is it possible to avoid this by moving to another country like the UK (20% CGT) or Switzerland (0% CGT!!) after a few years investing in Ireland?
Scenario:
Working in Ireland for about 5 more years while investing in shares and ETFs. Move to another country, find a job and register as a tax payer there etc. You are now exempt from paying any CGT on sale of shares, dividends or "deemed disposal" to Irish government.
Just to give a few more details, my broker is Interactive Brokers and according to their page, it shouldn't be a problem to change the country of residence on my account.
I've used the search feature on this forum but could not really find a question like this. So any info would be appreciated.
Thanks!
So my question is quite simple, is it possible to avoid this by moving to another country like the UK (20% CGT) or Switzerland (0% CGT!!) after a few years investing in Ireland?
Scenario:
Working in Ireland for about 5 more years while investing in shares and ETFs. Move to another country, find a job and register as a tax payer there etc. You are now exempt from paying any CGT on sale of shares, dividends or "deemed disposal" to Irish government.
Just to give a few more details, my broker is Interactive Brokers and according to their page, it shouldn't be a problem to change the country of residence on my account.
I've used the search feature on this forum but could not really find a question like this. So any info would be appreciated.
Thanks!