One of the unique challenges of operating businesses around the world is the complexity of residency and taxation, followed by the legal ramifications that ensue.  Using myself as an example.  I’m a citizen of New Zealand, I’m a resident of the United Kingdom and the United States, I hold entrepreneurial visas for both and own several businesses across multiple tax jurisdictions.

If I were to define my relationship with the IRS, HMRC and the New Zealand IRD, it would be set to “It’s complicated”.  Residing and doing business in multiple tax jurisdictions triggers global reach from tax authorities with the IRS being the most aggressive in this regard.   This means that unless good planning and discipline is in place, double taxation is a real threat.  Underlying New Zealand’s unique status, free of Capital Gains tax and the exposure can be exaggerated, with any capital gains being paid to Uncle Sam.  Legal frameworks will help, but not solve the issue of compliance and reporting.

Citrus Tree Consulting is pleased to offer a compliance and reporting app that not only records the number of days in any tax jurisdiction around the world, but also forewarns users of impending breaches in their residency and tax triggers.

‘Resident’ is a mobile app day counting solution for use with iPhone and Android devices. Resident has been specifically designed for expats and non-residents that travel frequently.   Resident records detailed location data, country, state, longitude and latitude.   The tracking is done via GPS signal, with no roaming charges, low battery consumption and password protected data.

1. It is for individuals that frequently travel to countries where day counting is a key factor in establishing residency.
2. Resident keeps a record of a user’s travel for reporting purposes.
3. UK Expats can use Resident for day counting, in-line with the Statutory Residents Test (SRT)

A summary screen consolidates your data and should a status alert be activated you are prompted to seek legal and financial advice.  It is estimated that there are 20 Million high net worth EU citizens alone that need to record their residency history for compliance purposes.  This doesn’t include the Russian Oligarchs that float around international waters to avoid such compliance.

For as little as £100 P/A you have full access to the App, the ability to export your confidential data from the cloud and keep track of your residency status in any country in the world.  The application is available for download from January 2017 from both the Apple and Android stores.

If you would like a demonstration of the software and how it can benefit you, please contact Citrus Tree Consulting for a confidential consultation.

Disclaimer:  Citrus Tree Consulting Limited is an Investor in the above mentioned company.