Latest / IMI Podcasts / This Week in IMI - Feb 29: Portugal Speeds Up Path to Citizenship, Launch of IMI Citizenship Catalog, Greek Golden Visa to Have 3 Price Levels,++

Transcript

This Week in IMI - Feb 29: Portugal Speeds Up Path to Citizenship, Launch of IMI Citizenship Catalog, Greek Golden Visa to Have 3 Price Levels,++ · IMI Podcasts

• 0:00
  SPEAKER_00: You're listening to IMI This Week.
• 0:04
  SPEAKER_00: Portugal's Constitutional Court has approved amendments to start the naturalization clock from the date of residency application submission rather than from the date of approval.
• 0:15
  SPEAKER_00: This change positively impacts golden visa holders, who can now fulfill the physical residence requirement in five years, regardless of actual approval times, addressing previous long waits due to processing backlogs.
• 0:31
  SPEAKER_00: The President of Portugal has now promulgated the new law, which will take effect within days.
• 0:38
  SPEAKER_00: But experts Pedro Cataupinheiro and Nedim Russo question what the phrase date of application means in practice and whether the new law will help applicants already in the pipeline.
• 0:52
  SPEAKER_00: The Greek Golden Visa Program will introduce three different price zones for real estate investments.
• 0:58
  SPEAKER_00: The new tiered system sets minimum investment requirements at 800,000, 500,000, and 250,000 euros depending on the zone.
• 1:09
  SPEAKER_00: This change aims to address market pressures and direct investments to areas receiving relatively less foreign investment.
• 1:17
  SPEAKER_00: The new rules will complicate the prospects of developers who adjusted their strategies following the last rule change just seven months ago.
• 1:28
  SPEAKER_00: In an opinion piece, David L'Esporance suggests that regardless of the U.S.
• 1:33
  SPEAKER_00: Supreme Court's decision in the Moore case, the growing trend of U.S.
• 1:38
  SPEAKER_00: citizenship renunciations will continue.
• 1:41
  SPEAKER_00: He explains that whether the court rules that taxing unrealized capital gains is constitutional or unconstitutional, both outcomes will lead to more expatriation, though for different reasons.
• 1:55
  SPEAKER_00: Leperence highlights the potential implications for wealth management and citizenship planning, stressing the importance of preparing for different outcomes.
• 2:06
  SPEAKER_00: Last week saw the launch of the IMI Citizenship Catalogue, a new tool detailing every pathway to citizenship for every country.
• 2:17
  SPEAKER_00: This one-of-a-kind comprehensive resource organizes and visualizes information from 195 countries into a searchable and sortable format, aiding in the research of global citizenship laws.
• 2:32
  SPEAKER_00: The catalogue is designed to simplify finding specific citizenship information, such as requirements for naturalization, descent, marriage, and investment.
• 2:45
  SPEAKER_00: In an analysis, Fabienne de Blois argues that citizenship by investment units must rely on human source intelligence for effective due diligence.
• 2:56
  SPEAKER_00: She highlights the limitations of formal documentation, which can be unreliable or scarce in certain regions, and emphasizes human intelligence's role in verifying information's authenticity and providing necessary context.
• 3:12
  SPEAKER_00: Dr.
• 3:13
  SPEAKER_00: Antoine Saliba Haig, in an interview, highlights that hundreds of thousands of individuals worldwide may have a claim to Maltese citizenship by descent.
• 3:24
  SPEAKER_00: This statement underlines the extensive global Maltese diaspora and the potential for numerous descendants to acquire citizenship.
• 3:32
  SPEAKER_00: Dr.
• 3:33
  SPEAKER_00: Saliba Haig also says excruciating delays in processing send the wrong message to the industry and impact clients' trust in the sector.
• 3:44
  SPEAKER_00: In their new guide, The Tax Efficient Way to Move to the USA, Melvin Warshaw and David L'Esporence provide a detailed account of tax-efficient strategies for moving to the USA.
• 3:58
  SPEAKER_00: The two immigration and tax lawyers, who between them have more than 70 years of experience in the field, integrate U.S.
• 4:06
  SPEAKER_00: immigration and tax law complexities, providing advice for temporary moves or full family relocations.
• 4:13
  SPEAKER_00: The guide aims to minimize tax impacts for immigrants and their advisors through strategic planning and structuring of foreign holdings.
• 4:24
  SPEAKER_00: Thank you for listening.