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France eyes US-style tax regime for expatriates
France’s finance ministry is advancing a proposal to impose a US-style “global tax” on high-earning French nationals who move abroad, effectively obliging them to remain taxable in France for years after departure.
ProACT Sam says:
For French expats - or those with cross-border interests - this signals a major shift. Tax mobility is increasingly under threat: moving away does not guarantee leaving the tax net behind. Now is the time to review where you hold residence, how long you’ve been abroad and what legacy liabilities may follow you.
Italy raises the cost of flat-tax incentives for rich foreigners
Italy’s draft 2026 budget plans to raise the flat-tax regime for wealthy foreigners (which previously stood at € 200,000 on foreign income) up to € 300,000 annually.
ProACT Sam says:
Italy has long been pitched as an elite expat destination combining lifestyle and tax benefits. But the upward revision signals that the “cheap entry” benefit is eroding. For mobile HNWs considering Italy, the evolving terms mean urgency and caution: incentives can recede, and assumptions of stability are dangerous.
UK’s non-dom overhaul triggers millionaire migration
United Kingdom’s removal of the non-dom tax regime has triggered the largest ever projected annual “HNW exodus” in 2025: some 16,500 millionaires expected to relocate in response to tighter rules.
ProACT Sam says
When the tax base becomes mobile, aggressive regimes may spur capital flight rather than capture it. For UK-connected expats or advisers, this is a red flag: structures built on territorial privilege may collapse. Time to model relocation risk, exit charges and structural resilience.
Expat investors lean into specialised global-asset strategies
According to recent analysis from Q3 2025, expat portfolios that thrived had three features: diversification across currencies, active hedge of FX/tax risk, and opportunistic positioning in niche regions.
ProACT Sam says:
The “move-abroad” mindset isn’t just about residence - it’s about portfolio freedom. For true mobility you need: cross-border advisory, real-time FX/fiscal risk assessment and the ability to act when one jurisdiction shifts. Complacency kills.
Americans abroad rethink citizenship cost
A record 1,200+ U.S. citizens renounced citizenship in Q1 2025 - doubling last year’s rate. Rising compliance costs and FATCA enforcement make many question whether the “passport premium” is worth it.
ProACT Sam says:
The U.S. is tightening oversight precisely as other nations loosen. For long-term Americans abroad, the trade-off is sharper than ever: pay for privilege or plan an exit. Each choice demands clarity and expert guidance before emotion.
Singapore and Switzerland dominate new wealth flows
HSBC’s global wealth report shows Singapore, the UK, and Switzerland as the top three destinations for relocated wealth in 2025 - with Singapore seeing a 25 % surge in new HNWI accounts from Asia and Europe.
ProACT Sam says:
Even amid tax crackdowns, money doesn’t disappear — it migrates. Jurisdictions that balance stability, confidentiality, and service quality continue to absorb global capital. The long game is regime diversification: not fleeing one system, but mastering several.
Building the right cross-border advisory team is now non-optional
For high-net-worth individuals relocating, or with significant global assets, the need for integrated cross-border planning teams - tax + legal + investment + operations - is rising steeply. Products alone won’t suffice.
ProACT Sam says:
If you’re relying on “local adviser plus offshore broker” you’re risking gaps. At minimum: one expert who understands domicile/residence, one who understands multi-zone investment structuring and one who watches exit/entry-tax triggers. This assembly isn’t an expense - it’s a defence.
Insight from the ProACT Cyprus Office
Cyprus has entered its mellow autumn phase - temperatures in the mid-20s, crisp sea breezes, and the season of roasted chestnuts and village wine festivals.
Life slows slightly: evening walks through Paphos old town, local tavernas serving stifado under fairy lights, and neighbours dropping by with homemade zivania. It’s a reminder that the island’s value isn’t just fiscal - it’s rhythm.
Cypriot life runs on connection more than clock time. Deals happen over coffee, friendships over mezze, and bureaucracy… at its own pace. For expats adapting from fast-paced cities, the secret is to exhale: patience and presence unlock the real Cyprus.
For help and guidance living or working in Cyprus you can contact us.
Latest from the ProACT Blog
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Property Trusts Explained | Tax-Saving Strategies for Expats
Tax-Saving Pension Transfers for Expats: What Changed - and What Still Works
UK Non-Dom Changes for Expats: Coming or Going? | Tax Breaks & Hidden Risks Explained
Deadlines
31 December 2025
2nd & final instalment of 2025 Provisional Tax
Payment for Special Contribution for Defence for last 6 months of 2025
31 January 2026
2024/25 UK Tax Return Deadline
Learn more about our Tax Return Service for expatriates
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