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Author: dlsavvy Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 6186  
Subject: dual citizenship Date: 2/27/2008 7:11 AM
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Hi Fools,

Suppose you were interested in retiring in New Zealand or Australia, does anyone have advice on the most financially efficient/secure method of transferring appox. half of your wealth to either of those countries vs. possible advantages of a Swiss bank account? Does anyone have info regarding taxation of income if you maintained dual citizenship with U.S. If anyone has any other pertinent info regarding this topic, I would appreciate your input!

Thanks,

dlsavvy
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Author: peterxyz Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 6146 of 6186
Subject: Re: dual citizenship Date: 3/1/2008 4:54 PM
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dlsavvy,

Don't know much about world-wide taxation of US citizens, except you better see a specialist. Since this is a US pecularity, your best sources will be in the US - try the Fools Tax boards

With regard to transferring assets, I'm not sure what advantages you had in mind for a Swiss bank account and whether you are after local assets (many are purchasable on US exchanges) or want local bank accounts, brokerage a/c's etc.

If the later, try talking to HSBC - they have branches in Aust and NZ and may be the easiest route. There are always online brokerages (check their T&C to see if overseas residents are eligible).
Also have a quick look at the Australia and NZ dual tax agreements - you can usually apply to have lower rates of withholding for non-residents (both for interest and dividends).

Hope this helps - reply with more specific information as to what your needs ar and I'll try to answer your questions.

Regards,

Peter

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