The reasons for moving within the country or abroad can be manifold: in professional life, people take on a job abroad or their residence is relocated to a desired destination on the occasion of retirement. In addition to the legal implications (right to report, aliens' rights, residence permits), the tax aspects of such moves should not be disregarded. It must also be considered that natural persons may have several residences in Austria and abroad. From an international tax law perspective, when there are several residences in Austria and abroad, focus is on the person's permanent centre of interests.
Austria, and in particular Vienna and its surrounding area, is an attractive location for wealthy private individuals due to the high quality of life and standards. This is reinforced by the tax situation: there is currently no wealth tax in Austria (with the exception of a small property tax on real estate), and there is no inheritance and donations tax. If a certain amount has been exceeded, donations must be reported to the financial administration (donation declaration).
In terms of taxation, the influx of persons with a specific professional profile is encouraged. Incoming scientists, researchers, artists and athletes can, under certain conditions, apply for a special immigration allowance in the form of the elimination of additional tax burdens. Furthermore, scientists and researchers have the possibility of being granted a 30% immigrant allowance for five years (Sec. 103 of the Income Tax Act (EStG)).
When moving away from Austria, it should be noted that exit taxation applies both commercially and privately. Depending on the destination (EU/EEA countries or third country), exit taxation has different structures.
Before moving, it is important that all legal (and not just fiscal) aspects are clarified. We cooperate with renowned law firms in this field and can refer our clients to competent contact persons from our international WTS Global network. WTS Austria is therefore well positioned to provide a comprehensive and customised moving package that takes all legal aspects into account.
WTS Austria has already completed moving projects with Germany, the United Kingdom, Spain, Italy, Belgium, France, Russia, America, Dubai and Switzerland.