Last month, Malaysia placed new and more onerous compliance requirements on its MM2H (Malaysia My Second Home) program. As expected, this has resulted in significant concern in regards to future FDI (foreign direct investment) in the Malaysian economy. As I suggested a month ago in IMI Daily, it is critical in the investment migration industry that benefiting countries recognise that investors require stability and consistency. If provided with such, they will be more than willing to continue the FDI process,…
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I would argue that HNWIs both in Asia and the Americas should now start to look at effective investment migration strategies that allow one to hedge their bets. As this article in Asia Nikkei and the legislative proposals of Senators Warren and Sanders in the United States suggests, the wealthy are in for a period of great uncertainty. Governmental action everywhere over the last twelve months has pushed the world towards economic stagnation, and the tax man shall be quite…
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With the more onerous tax burdens coming into play, the wealthy of India are looking for options. Many are still looking to the UK but with Brexit now a reality, a new and exciting opportunity is the Portuguese Golden Visa Program, which allows one to “place their bets” so to speak as they wait to see where the winds will blow. Quite an interesting article in this respect in the Times of India.
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Like others governments facing revenue shortfalls, India has just recently introduced citizenship-based taxation. Henceforth, Indian nationals, irrespective of physical presence in India, will be deemed to be tax residents in certain circumstances. Although India is still quite flexible in terms of application, the fact remains that the tax system is slowly moving towards obtaining additional revenues from those living and working abroad. Indian citizens should expect that matters will only get worse. Governments rarely lessen the tax burden. As such,…
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