I lived in Germany my whole life. I don't have a US citizenship. I invested in S&P 500 via the American "Interactive Brokers" for the last 4 years.

Now I want to move to New Zealand.

I want to understand if I can sell my stocks there, will I need to pay the German CGT on them? Will I need to to pay any other tax when moving?

  • 2
    Capital gains are usually charged by the country of tax residence. If you move there may be some complications and double taxation that may or may not be mitigated by treaties. Consult with a professional
    – littleadv
    Jun 26, 2023 at 1:27
  • @littleadv Agreed in general, with the highly relevant note that typically 'real property' [simplistically: real estate] is taxed first to the country where it resides. Jun 26, 2023 at 15:59
  • @Grade'Eh'Bacon unless there's a tax treaty, it will be charged by both: the country where the property resides sourced by the property location, and the country where the taxpayer is residing is sourced by the taxpayer residence. For intangibles (like securities) since there's no physical location for the property, only the taxpayer's residence matters. But even that has some caveats and some countries handle things differently. Bottom line, hard to give a generic answer without knowing the details of the investment, tax status, tax treaties, etc.
    – littleadv
    Jun 26, 2023 at 19:03
  • So @littleadv, it sounds like I should just sell the bonds now? Dont see what I have to lose by doing that. Jun 26, 2023 at 20:23
  • @johngoodheart again, it's hard for me to answer that without knowing the specifics of your situation, and in general a consultation with an international tax adviser would be a good idea before a relocation regardless.
    – littleadv
    Jun 26, 2023 at 20:56


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