non-doms

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non-doms

Definition:

Non-doms, short for non-domiciled individuals, refers to individuals who are tax residents in a country but are not considered domiciled in that country for tax purposes.

Senses:

Noun: A term used in tax law to describe individuals who are tax residents in a country but not considered domiciled in that country.

Usage:

Non-doms often have specific tax advantages that allow them to pay tax only on income generated within the country or to avoid taxes on foreign income altogether.

Examples:

Many non-doms choose to invest their funds in real estate in foreign countries.
The new tax regulations have reduced the number of non-doms in the country.

Related Products:

For further information on tax laws and non-domiciled status, consider these related products:

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