When we first start thinking about moving to the United States, tax is not always uppermost in our minds. But as Global Tax Counsel Gary Kaufman explains in this podcast, it is vital to start planning your tax position from the earliest stages of the process.
In this podcast we cover tax as it relates to the two types of US immigration – immigrant visas and non-immigrant visas.
Immigrant visas refer to programs like the EB-5 Immigrant Investor Visa and the EB-1A and EB-1C visas for extraordinary talent and business leaders respectively. Immigrant visas offer permanent residency status in the United States (Green Cards). Permanent residents are taxed on worldwide income, so it is vital to consider your entire global asset base, and to understand whether the countries in which you hold assets have a tax treaty with the United States.
We also cover non-immigrant visas in the podcast. Non-immigrant visas do not confer permanent residency, however there will still be tax considerations for any earnings made inside the United States.
Many of our non-immigrant visa clients move to America for the purposes of starting or acquiring a business. This can be achieved through the E-2 Treaty Investor Visa, or by setting up a US office of your existing company through the L-1 Intracompany Transfer Visa. In the podcast, Gary explains the importance of structuring the business correctly from a tax perspective at the outset.
Many of our non-immigrant visa clients eventually wish to transition to a Green Card. There are multiple ways to achieve this, and anyone interested should speak to one of our immigration attorneys.
This podcast is produced for clients, friends and other interested visitors for information purposes only. The contents of the article do not constitute legal advice and do not necessarily reflect the opinions of Davies & Associates or any of its attorneys, staff or clients. External links are not an endorsement of the content.