8. What does tax residencies mean?

Tax residencies look at whether you have been a resident of or have been physically present in a country for a certain amount of time, but the meaning of tax residency can differ from one country to the next. For individuals, physical presence in a country or jurisdiction is the main test for tax residency. Some countries also determine the tax residency of individuals by looking at factors like homeownership if you have long-term rented accommodation or if you have certain financial interests in that country.