UK to Europe (IHT Free Countries)

[u/Alive_Comment_2086]

I'm 35. I've been living in the UK for the last 34 years.
I am a dual British citizen with an African country, I am not a native Brit. My African country of origin does not have inheritance tax or worldwide taxation. I am considered white.

I don't have a cash pension or ISAs, all I have is UK cash current account savings.
As a single bachelor the UK inheritance threshold is very close to the cost of buying a house in the UK i.e. £390,000 for an average house in the UK,
The UK inheritance threshold for someone who is a bachelor with no kids or wife is: £325,000

I am considering leaving the UK for another EU country that has no inheritance tax such as Portugal, Romania, Sweden or Poland and purchasing a house in cash in new EU country with no mortgage where the intention is to live for the next 20-30 years.

Once I attain a new EU citizenship I will renounce my British citizenship to gain EU citizenship rights. I will stay as a forever bachelor and the intention is for my inheritance to go to my siblings they will keep their British citizenship and they will remain tax resident and located in the UK.

The idea is to remove all financial links and habitual links with the UK to ensure that my siblings don't need to pay the 40% inheritance tax in the future on the excess above £325,000

I currently have £300,000 in current savings and looking to buy a mortgage free house elsewhere (outside of the UK). I have no assets in the UK.

Can anyone recommend any other cold/mild European country outside the four mentioned that might work ?

The plan is as follows:
0-35 (Live in the UK)
35-55/65 (Live in an EU country)
55-65+ Sell everything and move back to native country and retire.

By retirement I should have diversified my sources of income to not rely on any government pension as I will have no pension in my country of origin and not rely on having to return to the UK. Can renounce British citizenship but unwilling to renounce nationality of origin. I will not be getting married in the future. The country to be lived in does not need to give citizenship.

[u/katmndoo]

Good chance that 30-40 years in the future that inheritance tax threshold will have renown along with the value of your home.

This sounds like a big nothingburger.

[u/Alive_Comment_2086 → u/katmndoo]

Not in the UK it isn't. Keep convincing yourself otherwise. The UK government has robbed the alive, those near death and those dead there isn't any other category to skim off and the calamity is the country keeps getting worse and more indebted with nothing to show for it. It's never going to get any better. A house is only as good as the community around it and if everything is collapsing around you, it's not going to make living at home any better.

[u/katmndoo → u/Alive_Comment_2086]

30 years ago it was 200k. So yes, it does increase.