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domicile
domicile
A Dictionary of Business and Management
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2006
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© A Dictionary of Business and Management 2006, originally published by Oxford University Press 2006. (Hide copyright information)
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domicile (domicil) 1. The country or place of a person's permanent home, which may differ from that person's nationality or place where they are a
resident. Domicile is determined by both the physical fact of residence and the continued intention of remaining there. For example, a citizen of a foreign country who is resident in the UK is not necessarily domiciled there unless there is a clear intention to make the UK a permanent home. In order to prove that the
domicile of origin has been relinquished in favour of the
domicile of choice, tangible changes have to be made. Links with the domicile of origin must be severed and active steps taken to become involved with the country that is the domicile of choice, e.g. by making a will under its laws. Under the common law, it is domicile and not residence or nationality that determines a person's civil status. Whether a person is domiciled in the UK may affect their liability to UK taxation. A corporation may also have a domicile, which is determined by its place of registration.
2. In banking, an account is said to be domiciled at a particular branch and the customer will usually treat that branch as his or her main banking contact. Computer technology, however, now allows customers to use other branches as if their account was domiciled there.
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Domicile planning - don't take it for granted.(Florida)
Magazine article from: Florida Bar Journal; 1/1/2006; ; 700+ words
; ...potential clients who could benefit from domicile planning. Because clients rarely engage attorneys or other professionals with domicile planning in mind, many opportunities to properly plan for domicile are missed. If the right questions are...
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Choosing your domicile state has income tax implications
Magazine article from: Ophthalmology Times; 10/1/2006; ; 700+ words
; ...taxes. What is meant by establishing a domicile state and what is my liability for state...need to provide proof that this is your domicile state where you will maintain your legal...state. You may establish a state as your domicile the first moment you occupy property...
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Domicile: The state of your state of affairs
Newspaper article from: Intelligencer Journal Lancaster, PA; 2/14/2005; ; 700+ words
; Where do you live? It depends. Domicile is "the place where a man has his true...returning." A person can have only one domicile, no matter how many residences he owns. Your state of domicile determines (1) to which state you pay...
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The importance of domicile in asset preservation planning.
Magazine article from: Florida Bar Journal; 11/1/2005; ; 700+ words
; ...may have more than one place of residence, but only one domicile. Generally, there is the "domicile of origin," which is the permanent residence of a person's parents; "domicile by operation of law," which is the place the law attributes...
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A Change in Domicile from New York to Florida Can Help Minimize Taxes
Magazine article from: The CPA Journal; 3/1/2007; ; 700+ words
; ...their Florida home by changing their domicile to Florida. The benefit of doing so...York and Florida to consider a change of domicile to eliminate New York income and estate...are eligible to elect Florida as their domicile. Domicile is characterized in the New...
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Most offshore domiciles see moderate growth in 2007.(Spotlight: Captive Solutions)
Magazine article from: Business Insurance; 3/3/2008; 700+ words
; ...largest captive domicile. In 2007, however...market and other domiciles. In addition...licensed in the domicile. Bermuda's captive...Unlike most other domiciles, Bermuda also is...formations in several domiciles, they say. -By...continues to be the domicile of choice for health...
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MAKING THE TRIP: A Domicile Selection Primer.
Magazine article from: Risk Management; 3/1/2001; ; 700+ words
; ...transfer is that captive domiciles are constantly seeking...they license. If a domicile is at all serious about...must be an informed domicile choice. Taxes Taxes...investigation into a domicile examines three areas...Premium Taxes. Onshore domiciles charge premium taxes...
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Beyond Bermuda: a roundup of domiciles near and far.(captive insurance companies)
Magazine article from: Risk Management; 8/1/2005; ; 700+ words
; ...there are 49 active domiciles worldwide. But...of captives per domicile falls off sharply...it is selecting a domicile, according to Mike...expert on captive domiciles. He sees a continuous...economy, and captive domiciles are a global issue...which is the hottest domicile region on ...
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A home from home. (Tax Planning).(analysis of domicile rules, tax law)(Brief Article)
Magazine article from: Money Marketing; 5/9/2002; ; 700+ words
; ...funds. * The review of the rules on domicile and residence. Over the coming weeks...I would like to consider the issue of domicile and residence. It was announced in Treasury...Government is reviewing the residence and domicile rules as they affect the tax liabilities...
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Number of captives growing in most domiciles.(Brief Article)(Statistical Data Included)
Magazine article from: Business Insurance; 5/1/2000; 700+ words
; ...captives, while four domiciles had modest decreases...largest captive domicile in the world, with...became the first domicile to permit protected...companies, though other domiciles also have adopted...marketing of the domicile and lower captive...than in some other domiciles. For ...
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domicile
Book article from: A Dictionary of Business and Management
domicile ( domicil ) 1. The country or place of...nationality or place where they are a resident . Domicile is determined by both the physical fact...permanent home. In order to prove that the domicile of origin has been relinquished in favour...
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Diversity of Citizenship
Encyclopedia entry from: West's Encyclopedia of American Law
...intent makes that place the individual's domicile, and a party can have only one domicile at a time. Citizenship does not mean that...prisoners, and service personnel can establish a domicile in a state even though they are living in...
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Residence
Encyclopedia entry from: West's Encyclopedia of American Law
...at some place of abode. Although the domicile and residence of a person are usually...and one in the country, but only one domicile. Residence means living in a particular locality, but domicile means living in that locality with the...
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Descent and Distribution
Encyclopedia entry from: West's Encyclopedia of American Law
...is located in the state of his or her domicile or permanent residence, the law of that...houses, and farms, regardless of the domicile of the deceased owner. The succession...situated, are governed by the law of the domicile of the owner or intestate at the time...
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Personal Property
Encyclopedia entry from: West's Encyclopedia of American Law
...animus revertendi, or the intent to return to the owner's domicile. Conversely when a captured wild animal escapes and returns...habitat without any apparent intent to return to the captor's domicile, the captor forfeits all personal property right and the animal...
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