The term used to describe the phenomenon in which successful people avoid living or working in high-tax countries is **tax migration**. Tax migration refers to the practice of individuals or businesses moving their residence or operations to countries with lower tax rates in order to reduce their tax burden. This can involve relocating to a different country, establishing tax residency in a more tax-friendly jurisdiction, or structuring businesses in a way that minimizes tax liabilities.
For example, a wealthy individual might choose to become a tax resident of a country with no income tax to legally reduce the amount of taxes they have to pay on their income and assets. Similarly, multinational corporations may set up subsidiaries in countries with preferential tax regimes to lower their overall tax expenses.
Tax migration is a strategy used by some individuals and entities to optimize their tax planning and maximize their after-tax income by taking advantage of differences in tax policies among countries.
