Non-residents would pay on Hungarian property and company stakes, and citizens would count as resident until ten years after leaving.
Tax residence is a separate test from immigration status, and only Argentina and Hungary write a permit into it. For every other country on this list, your wealth tax bill turns on days present and on where your assets are.
The drafting is finished and the bill reaches parliament in October, at 1% a year on wealth above one billion forint. Hungary’s last wealth tax was struck down over the same problem the new one has yet to solve, which is how to value a stake in a private company.
The price is the last simple number. A home abroad can owe tax every year you hold it, when you sell, and after you die.
David Lesperance says many US embassies refuse to take renunciation appointments, and that the backlog runs into the tens of thousands.
