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St Kitts and Nevis Unveils Significant Reforms in Citizenship By Investment

Recent events have shaken the Caribbean Citizenship By Investment (CBI) landscape, leaving little room for optimism. Just a week ago, St Kitts offered an extended limited-time discount on its CBI program, providing a glimmer of hope for prospective applicants. However, within two days, Vanuatu and Dominica suffered visa-free access restrictions to the UK due to alleged approvals of CBI applicants previously denied UK visas.   The European Union has long been critical of CBI and Golden Visas, and speculation about potential changes in the region has been circulating for days. Unfortunately, these speculations proved true as St Kitts and Nevis'...

New Zealand – ease of doing business

As the number of family offices continues to expand, so does the demand for a wide range of essential fiduciary services, including trusts and corporate management.  Given the escalating complexity of financial landscapes, there is a pressing need to diversify the structures in which assets are held. Among the most crucial options are trust structures, which provide a robust and secure framework for safeguarding family assets and facilitating their seamless transfer across generations. From a holistic point of view, the combination of various jurisdictions is important due to uncertainties, policy changes, and amendments of regulation. Working with private clients usually...

A Comprehensive Guide to Obtaining Turkish Residence in 2023

A Comprehensive Guide to Obtaining Turkish Residence in 2023 Obtaining Turkish residence offers a range of benefits, from investment opportunities to lower taxes and extended travel privileges. In this article, we will provide you with a step-by-step guide on how to obtain Turkish residence, including the different types of resident permits available and the advantages of acquiring one. At Nomad Capitalist, we specialize in helping individuals navigate the process of obtaining second residence or citizenship. With our expertise and guidance, we will ensure you make the right choice for your specific needs as our valued client. Turkey Country Overview: Situated...

Vietnam Secures $10.86B in FDI in First 5 Months

Vietnam has recorded an impressive influx of foreign direct investment (FDI) in the initial five months of this year, totaling around $10.86 billion. The country's favorable business environment, robust economic growth, and strategic sectors such as manufacturing, high-tech, services, and renewable energy have contributed to its appeal as an attractive investment destination. With ongoing efforts to streamline procedures and enhance infrastructure, Vietnam is poised to sustain its positive FDI momentum and foster long-term development. Source:Vietnam Plus

Cyprus Golden Passport Case Faces Trial Suspension and Refiling

The trial surrounding Cyprus's Golden Passport scandal, originally exposed in an investigation by Al Jazeera, has been suspended by the Nicosia criminal court due to changes in the court's composition. This development has resulted in the acquittal of all four defendants, including former House President Demetris Syllouris, former Akel MP Christakis Giovani, lawyer Andreas Pittajis, and Giovani Group executive Antonis Antoniou, on all charges, at least for the time being. Elli Papagapiou, the representative of the prosecution, explained that the current case could not proceed due to the change in the court's composition. As a result, the criminal case will...

EU supports radical migration and asylum reforms

The EU has agreed to radical reforms of its migration and asylum laws, including charges of €20,000 per head for member countries that refuse to host refugees. The 27-state bloc has adopted general approaches to asylum and migration management regulation and asylum procedure regulation. Under a last-minute compromise, member states will determine what country is "safe" for migrants turned away on the grounds of not being eligible for asylum.   Countries will be obliged to show a "connection" with the country that any migrant is transferred to, but this link can be defined by the member state. This appears to...

Canada: 13 More Countries Added to Electronic Travel Authorization Program

Canada: 13 More Countries Added to Electronic Travel Authorization Program   Content: On June 6, 2023, the Canadian Minister of Immigration, Refugees and Citizenship, Sean Fraser, announced the inclusion of 13 additional countries in the electronic travel authorization (eTA) program.   This expansion allows eligible travelers from these countries to apply for an eTA instead of a visa when flying to Canada. The following countries are now part of the program: Antigua and Barbuda, Argentina, Costa Rica, Morocco, Panama, Philippines, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Seychelles, Thailand, Trinidad and Tobago, and Uruguay.   Members...

Hong Kong's New Single Family Office Tax Regime: A Game-Changer for High-Net-Worth Individuals

Hong Kong has introduced a groundbreaking tax concession regime for Single Family Offices (SFOs) managing Family-owned Investment Holding Vehicles (FIHVs). The new regime aims to position Hong Kong as a premier hub for family offices and provides numerous benefits for high-net-worth individuals and their families.   Benefits of the New Tax Regime: Streamlined process: No pre-approval or application is required. A simple self-declaration suffices, reducing bureaucratic red tape. Exemption of investment profits: Qualified assets are exempt from Profits Tax, providing confidence and tax relief for high-net-worth families. Retrospective application: The tax regime applies from the assessment year 2022/23, ensuring previous...