Exit Tax: The Bill You May Not Realise You Owe When You Move Country
Many countries impose a tax on unrealised gains the day you leave. How exit taxes work, who they hit, and how to plan around them.
Why moving country can trigger a tax bill
A growing number of countries treat the day you cease to be tax-resident as a deemed disposal of certain assets — usually shares and substantial business holdings. You pay capital gains tax on unrealised gains as if you had sold, even though no cash has changed hands.
France, Germany, the Netherlands, Spain, the UK (limited), the US (long-term residents and citizens via the 'expatriation' regime), Canada, and Australia all have versions. Rules and thresholds vary.
The traps
Concentrated holdings in private companies. Carried interest positions. Crypto in some regimes. Holding-company shares above an ownership threshold (commonly 1% or 25%). The exit tax can be six- or seven-figure even when the move is for personal, non-tax reasons.
Some jurisdictions allow deferral if you move to a treaty country and post security; others allow phased payment. Almost all require formal filings and valuations on departure.
Planning ahead
If a move is coming, get advice before you leave, not after. Realignment of structures, pre-emptive realisations, and use of treaty mechanisms can substantially reduce or defer the bill — but only if done before residency ends. After, options collapse.
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