To explain tax residency and citizenship, we first need to consider that there are two separate parties involved: a private and a legal person. This means that your company is a legal person, and you alone are the private person.

Citizenship only applies to a private person and is determined by your passport. The tax residency on the other hand is not the same as citizenship and is determined by tax laws. The tax residency status can be in the same country as your citizenship, but it also might be different or change in time.