Your domicile, be it of origin, choice, or deemed, holds sway over many aspects of your life. Most significantly, it plays a key role in taxation. Different jurisdictions have varying tax laws, and your domicile can significantly affect your liability.
Additionally, your domicile impacts your legal capacity and rights. It can determine the law applicable to your marriage and the distribution of your assets upon death. Therefore, it’s crucial to comprehend where your domicile is truly situated and the implications it carries.
A key point to understand is that the common law concept of domicile is completely distinct from residence.
An individual must have a domicile but can only have one country of domicile at a time. By contrast, it is perfectly possible to be considered a resident of more than one country in a tax year or indeed a resident of no country.
Domicile may be challenged on death, Those claiming non-dom status should share any evidence of intentions with family members or others who may find themselves defending a domicile challenge.
It’s important to understand the legal concept of domicile.
What is your domicile status?
Often individuals mix up the distinctions of residency and domicile and they are inherently unique. There are clear distinctions and differences between domicile and residency. Your domicile is more than your residential address.
It’s a complex legal concept that traverses the boundaries of international law, taxation, and personal rights. It could very well be different from where you live or even where you think your home is.