UK Super Rich Are Being Lured Away by Europe’s New Wealth Hubs

Several European countries have introduced tax incentives in recent years aimed at attracting wealthy individuals. France, Italy, Portugal, and Greece have each enacted programs offering reduced tax rates or exemptions on foreign income for new residents meeting specific criteria. The UK has maintained its non-dom tax status, which allows UK residents with income sourced abroad to defer UK taxation on that income, though the government announced changes to this policy in 2024 set to take effect in 2025.

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