High Taxes Send Gerard Depardieu Scrambling for Belgian Residency

High Taxes Send Gerard Depardieu Scrambling for Belgian Residency

French actor Gerard Depardieu has seen enough of his native land’s ballooning tax rates, courtesy of Socialist President Francois Hollande.

Depardieu, who recently made headlines for a drunken ride on a scooter, has bought a home in Belgium and is seeking residency in the neighboring country.

He’s not the only one.

[The actor] would join some 2,800 French living in the same area a few minutes drive from the border, including the Mulliez family, owners of French hypermarket chain Auchan and Decathlon sports stores, who have lived there for years.

Belgian residents do not pay wealth tax, which in France is now slapped on individuals with assets over 1.3 million euros, nor do they pay capital gains tax on the sale of shares.

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