Say you are a Brit who is interested in moving your tax residency to Georgia. How easy would this be and how would you go about this?
From what I have seen there are 2 main methods by which you can achieve tax residency. By investment in local property (over a certain amount and with other conditions such as making £90k+ or so the previous 2 years and earning some money in the local currency). And by staying 183 days+ in any year.
So let’s say you decide to move to Georgia April of 2021 for example. You spend more than 183 days between April 2021 and 2022. You also rent a place there and designate it your official address. And you open a local bank account. Assuming you spent less than 30 days in the UK, would this be enough to convince the UK taxman that you no longer qualify for residency there?
After all, in April 2022 you would apply for (and hopefully receive) a certificate of tax residence in Georgia. April is tax time in the UK so would you contact HMRC and give them all the details along with the tax residence certificate (for sure UK and Georgia have a tax treaty of some kind)? This is assuming you haven’t been paying tax to the UK PAYE style throughout the year (in which case you would claim it back?)
Is the aforementioned enough for this to work or would you need to meet more conditions? I understand that the more ties you have with Georgia the better.
Also, assuming it worked, what conditions would you need to meet in order to continue being tax resident in Georgia thereafter? Presumably your tax residence would remain with them by default unless you qualified to be tax resident in another country? Presumably you’d need to make sure you spend less than 30 days a year in the UK from then on?