Domicile

Domicile — the country where a fund itself is legally established. It determines the fund’s tax plumbing regardless of what it holds: an S&P 500 fund domiciled in the US exposes a Filipino to 25% dividend withholding and US estate tax; the same 500 companies in an Ireland-domiciled fund suffer 15% withholding internally and zero estate exposure. Same exposure, different domicile, different outcome.

First used in: 1.6 · Cross-border plumbing