European Commission calls to axe investor citizenship schemes with immediate effect

[KDX]

Right before they bring digital wallets and the digital dollar where they can basically know your every spending habit without passing through a court order, and would enable them to freeze your assets at will the moment you do something they dislike, like criticize the government online.

Yup, and when these frameworks are put in place, they will attract bad actors like a magnet. I guess people never really learn from history.

 

[Golden Fleece]

"The Mechanics of Due Diligence, World in Crisis: Securing Citizenship by Investment" --

Heyrick Bond Gunning, CEO of SR-M, talked about the common red flags and said that one of the utmost red flags is when the applicant does not work in the field from which he has got his major source of wealth. “There are various issues that we see that we flag to our clients (host countries),” he added. Other than this, he said that the due diligence of CBI applicants has become strict in the past few years.

“Applicants also go through checks by the agents before being put through the unit, sometimes, there are double-checks by two companies, and then they are put through security services in the country and in a broader base as well."

https://periodicaltoday.com/every-n...ssible-standards-under-due-diligence-leviten/

 

[Golden Fleece]

Euro-scum technocrats are still leading the charge against both Golden Visa and CBI programs.

The EU Parliament has called for an EU “levy of a meaningful percentage on the investments made – until ‘golden passports’ are phased out, and indefinitely for ‘golden visas’” within the block. “It also asks the Commission to put pressure on third countries that benefit from visa-free travel to the EU to follow suit,” according to the EU website. The resolution passed by the parliament with 595 votes to 12 and 74 abstentions says golden passports should be phased out fully.

Last month, the Antigua and Barbuda government said it had stepped up its efforts to stave off efforts by the EU to derail the CBI, with Prime Minister Gaston Browne indicating that he has sent a letter to the EU on the issue.

https://www.caribbeannationalweekly...-and-us-on-citizenship-by-investment-program/

 

[KDX]

Euro-scum technocrats are still leading the charge against both Golden Visa and CBI programs.

https://www.caribbeannationalweekly...-and-us-on-citizenship-by-investment-program/

I feel like these are the last moments of CBI programs. The EU mindset is very much against the whole idea of "buying citizenship" as it is easy to brand as something only criminals do. Sadly this is very much not the case...

 

[backpacker]

There will always be enough countries who are willing to grant citizenship/passport.
Just that it won't be in the Western Hemisphere

 

[Martin Everson]

The EU and US making the world smaller and stopping all escape routes for their citizens .

I feel like these are the last moments of CBI programs. The EU mindset is very much against the whole idea of "buying citizenship" as it is easy to brand as something only criminals do. Sadly this is very much not the case...

The EU is against its citizens escaping its clutches and ruskies etc provided perfect excuse to clamp down.

Get a second passport while you still can and get out of the EU while you still can and thank me later.

 

[KDX]

Get a second passport while you still can and get out of the EU while you still can and thank me later.

OR start your naturalizing journey now. Lots of places with decent naturalization rules. And there's no way the EU can claim that's fraudulent.

 

[backpacker]

Get a second passport while you still can and get out of the EU while you still can and thank me later.

Second passport under any CBI is/will soon become worthless. Furthermore, taxwise it is of little help.

start your naturalizing journey now.

That's the way to go if you do not mind the hassle.

 

[Martin Everson]

Second passport under any CBI is/will soon become worthless. Furthermore, taxwise it is of little help.

Thats not exactly true...lol. I have good friends with Nevis passports living there tax free for many years. They travel on their own EU passports in all other cases anyway. Best of both worlds.

 

[backpacker]

Thats not exactly true...lol. I have good friends with Nevis passports living there tax free for many years. They travel on their own EU passports in all other cases anyway. Best of both worlds.

If second citizenship is allowed in their EU home country - good for them.
Other then that, how does it help taxwise? Residency in a country with territorial taxation would do the same like their CBI passport. And once the EU country of which they still carry a passport comes up with citizenship based taxation their CBI passport of Nevis will not help much (rest assured the EU will pressure all these CBI countries to tax these people).
So, from my point of view CBI is outdated. Naturalization is the way to go if one is serious. Anyway, in a few years we will know more ....

 

[Martin Everson]

Other then that, how does it help taxwise?

They live tax free in Nevis.

And once the EU country of which they still carry a passport comes up with citizenship based taxation their CBI passport of Nevis will not help much (rest assured the EU will pressure all these CBI countries to tax these people).

I have talked about EU taxation by citizenship coming which I think it will. In such a case then they have options with a second passport. Yes OECD will continue to put pressure on Caribbean countries over how they govern their tax affairs and CBI which may end it all.

So, from my point of view CBI is outdated. Naturalization is the way to go if one is serious. Anyway, in a few years we will know more ....

St Kitts & Nevis can always introduce fast track naturalization. Whether it takes 12 months or 12 years who will decide the duration naturalization should take globally...lol? CBI or Naturalization will just be a play on words in the end.

 

[KDX]

St Kitts & Nevis can always introduce fast track naturalization. Whether it takes 12 months or 12 years who will decide the duration naturalization should take globally...lol? CBI or Naturalization will just be a play on words in the end.

This is how I think it will go. Vague naturalization tracks etc. Will be hard to paint as "buying citizenship". Although, how's Malta doing? They have that thing going on.

 

[Martin Everson]

Although, how's Malta doing? They have that thing going on.

Yeah seems they will either rework it or abolish it by 2025 article says.

https://www.internationalinvestment...lden-passport-scheme-amid-eu-pressure-reports
There will always remain ways around it and I hope EU countries also abolish at same time there special citizenship programs .

https://corpocrat.com/2017/02/03/co...citizenship-on-special-merit-or-achievements/
We saw France use it below .

https://www.cbsnews.com/news/paris-...hero-mamoudou-gassama-mali-migrant-spiderman/

 

[Golden Fleece]

Under pressure from the EU, Montenegro just agreed to end its CBI program.

Montenegrin Prime Minister Dritan Abazovic on Thursday said during his first official visit to Brussels that the controversial economic citizenship program will end on December 31.

https://balkaninsight.com/2022/05/20/montenegro-promises-eu-to-terminate-golden-passport-scheme/

 

[KDX]

Under pressure from the EU, Montenegro just agreed to end its CBI program.

https://balkaninsight.com/2022/05/20/montenegro-promises-eu-to-terminate-golden-passport-scheme/

Lol... I wonder if the Caribbean countries will give in...

 

[Martin Everson]

Lol... I wonder if the Caribbean countries will give in...

They may have no choice at some point .

 

[Rzeznik]

Lol... I wonder if the Caribbean countries will give in...

Why they should ? I don't belive that they are Caribbean visit every holiday EU.
They have big portion of they GDP from it and turism. They won't give visa for EU people for sure but 99% their native citizens doesn't need visa free acces to EU. Maybe that will make less worth to have Caribbean citizenship but there alwas will be need for that product.
taxes / free to live elsewhere / no military service / 2nd ID when you have troubles back to country eg. Ukrainians now cannot go back becouse if they will they will end up in military / escaping US for some people

Other then that, how does it help taxwise?

I bet some high tax countries have wet dream about citizenship based taxation. (like France/Germany/Sweden/Norway)
If you have option to get out you will if you don't have there is problem.

 

[clemens]

It's all about Putin, man I hate this war!

 

[Golden Fleece]

Why they should ? I don't belive that they are Caribbean visit every holiday EU.
They have big portion of they GDP from it and turism. They won't give visa for EU people for sure but 99% their native citizens doesn't need visa free acces to EU. Maybe that will make less worth to have Caribbean citizenship but there alwas will be need for that product.

I am not sure that you fully understand the power of international pressure. All the OECD countries must do is ban entry from any of those CBI nations, even with a visa (based on alleged security issues). Then those passports are worthless for anyone who wishes to travel to first world nations. The market for such CBI programs would probably fall by 90% or more.

Nor could any native citizens use their own country's passport to travel to first world nations. That is an immense amount of international pressure and leverage to force compliance.

I am not saying that this will happen, just that it certainly can happen.

 

[Martin Everson]

I bet some high tax countries have wet dream about citizenship based taxation. (like France/Germany/Sweden/Norway)
If you have option to get out you will if you don't have there is problem.

I discussed this coming last year in link below. To me it seems a certainty this will happen.

https://www.offshorecorptalk.com/threads/lets-talk-about-the-west.35018/post-189913
The EU have started with Exit Taxation already and some countries like Poland have applied Exit Taxation to individuals and not just companies leaving EU .

https://www.grantthornton.global/en...impact-on-internationally-mobile-individuals/

They won't give visa for EU people for sure but 99% their native citizens doesn't need visa free acces to EU.

If the EU ban visa free access to EU for me then it will make no difference in my situation...lol. What the EU does not want to do however is to get the geopolitics wrong and think their market is only market that matters in this world .