Non-residents can only pay a state tax on assets that are actually located inside the united states. Stock in a foreign corporation isn't located in the us, so there's no gift tax. If you sell the asset, unlike a typical american, who might be able to shelter some of the sale of their principal residents from capital gains, that doesn't apply to non resident who own a second home here.
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International and Cross-Border Planning have been a major issues for high net worth clients for as long as there have been borders. It’s an enormous topic.
Jobs, new family situations and geopolitics often send people to different countries for different opportunities. All of this can have tax implications around an estate plan . . .
Add in the complications of new asset classes and confusion around citizenship, residence and tax obligations. There is a lot to consider- especially for U.S. citizens with connectivity abroad.
Here to help us think about that is BRENT NELSON . . .
Brent is a Partner at the RIMON LAW FIRM in Tuscon, AZ and represents a variety of cross-border clients.
