Hello,
I'm 50, lived in Dublin for 23 years and I'm in the following situation
- House owner without mortgage (value of roughly 650€)
- Zero debt
- Non Irish domiciled (Austria) with a house worth about 150K in Austria which I use for holidays
- I'm already funding my private pension with the maximum amount from me and my employer and also maximum AVC (with roughly 500K balance currently)
I have some spare cash (130K) sitting in my current account and would like to invest 110K somewhere because of the inflation and the negative rates.
The investment would be long term 8-10 years as I have no need and no plan for large expenditures in the near future
As a non-domiciled are there any options/advantages in moving the cash outside of Ireland but in the EU and investing the cash in shares, ETF, funds etc, and avoid paying the irish taxes if not remitted ? Many countries in the EU have lower income and CGT taxes than Ireland and at some stage I will move back to Austria anyway and remitt them there probably.
Before moving to Ireland I worked in the US and had a mixed $$ investments in US based ETF and US based shares (about 100K) that more than trebeled from a initial 30K investment 20 years ago and sold them 3 years ago and are sitting in cash. I seeked finacial advise a few years ago when I sold them and was told that the gains from investments in US soil in shares of US based companies attract no taxes in Ireland for non-domiciled persons unless remitted.
I wonder now what are the rules for moving the cash to other countries within the EU and investing from there ? I believe investing in the EU is a different kettle of fish than the US for non-domiciled people.
Thanks
Henning