Tepid Demand for Australia’s Revamped Significant Investor Visa

Australia has received just 7 new applications under its new significant investment visa program following the introduction of important modifications to its programs in July 2015. Prior to the changes, between November 2012 and June 2015, the significant investment visa program received approximately 2100 applications and attracted foreign direct investment of AUS $4.3 billion from…

More Americans Choosing to Renounce Citizenship Rather than Pay Taxes

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…

OECD Head Sounds Alarm over Spurt in Global Income Equality

Speaking at the Parliamentary Assembly of the Council of Europe (PACE), Angel Gurria, the head of the Organization for Economic Co-operation and Development (OECD), raised alarm over the growing levels of income inequalities in the global economy. Stating that global inequalities have never been so high in the past, Angel said that the income of…

Central Bank: Spain to Grow at 2% in 2015, OECD & IMF Stick to 1.6%

Bank of Spain’s Governor, Luis Maria Linde, gave reasons for global investors to be optimistic about the fourth biggest economy of the Eurozone by presenting data indicating that the country’s pace of growth exceeded expectations in the second quarter of 2014. After emerging from a two-year downturn in the middle of 2013, Spain’s economy has…