More US citizens have renounced their citizenship in the first three months of this year than ever before, mainly because of a new aggressive crackdown by the US Treasury Department and the Internal Revenue Service to enforce tax rules on the foreign income and savings of American expatriates. The surge in US nationals renouncing their…
Citizenship-by-investment programs offering residence in lieu of investment evoke strong criticism. They are popular among developed nations and they are always in demand with high net worth investor immigrants. While a few countries in the Caribbean region and Europe offer citizenship through investment, about half the constituents of the European Union offer long-term residence…
The EB-5 program provides wealthy immigrants with the option of acquiring a coveted US Green Card in a relatively short span of about years. The EB-5 program offers permanent residence in the US for applicants investing at least $1 million; $500,000 in case of a Regional Center in a rural area or a high-unemployment area;…
Lagging behind investment immigration programs offered by other European countries like Portugal, Cyprus, and Greece, Spain’s government is considering liberalizing the Spanish Golden Visa program. Currently, the Spanish Golden Visa program is subject to the following rules: Minimum investment of at least EUR 500,000 in one or multiple properties in Spain. The applicant can invest…
The taxation framework applicable to one of the most popular investment immigration programs in the world, the Cyprus Citizenship-by-Investment Program, has been modified to enhance its attractiveness to non-domiciled investors. The President of Cyprus recently announced changes to the tax framework applicable to the program that will allow investors to enjoy tax-free profits on their…