Latest / IMI Podcasts / This Week in IM - Jun 6: 🇻🇺 Won’t Revoke Tate’s Citizenship, 🇹🇭 Reveals Tax Exemption, 🇮🇹 Finalizes “Genuine Link” CBD Limits, ++

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This Week in IM - Jun 6: 🇻🇺 Won’t Revoke Tate’s Citizenship, 🇹🇭 Reveals Tax Exemption, 🇮🇹 Finalizes “Genuine Link” CBD Limits, ++ · IMI Podcasts

• 0:00
  SPEAKER_00: You're listening to IMI This Week.
• 0:04
  SPEAKER_00: Investment migration people in the news this week included Marcus Beveridge of Queen City Law, Nuri Katz of Apex Capital Partners, Dominic Volek, Sarah Nicklin, and Roheet Pardwaj of Henley and Partners, Kathy Chan of Hyways, David Lesperance of Lesperance and Associates, Armand Arton of Art and Capital, Mark Acheson of Utmost Wealth Solutions, Stuart Nash of Nash Kelly Global, Gorvinder Panu of Adelshaw Goddard Oman, Akarshan Kathoria of Rise Up, Philippe May of EC Holdings, Isabella Shroutke of Nomad Capitalist, Jen Barnett of Expatsi, Astins, Stuart Nash of Nash Kelly Global, Kashif Ansari of IQI, Lau Hai Suen of Investment Promotion Alpha, Rajneshpatak of Global North Residency and Citizenship, Navniet S.
• 0:58
  SPEAKER_00: Chug of Chug LLP, Mark Davies and Sukanya Rahman of Davies and Associates, and David Lesperance of Lesperance and Associates.
• 1:09
  SPEAKER_00: Sarawak's SMM 2H program is experiencing unprecedented growth under new leadership.
• 1:16
  SPEAKER_00: Between January and mid-May alone, the program approved 265 applications, bringing in 65.3 million Malaysian ringgit in fixed deposits.
• 1:26
  SPEAKER_00: Since Abdul Karim's ministry took over in 2020, approvals surged from 1,240 to 3,141.
• 1:36
  SPEAKER_00: With the program on track to exceed 700 approvals by year-end, 2025 could mark Sarawak's most financially successful year.
• 1:45
  SPEAKER_00: Italy has enacted a decree, fundamentally transforming its approach to citizenship by descent, examines Marco Messina.
• 1:53
  SPEAKER_00: Taking effect on May 24th, the reform introduces generational limits and requires applicants to prove tangible connections to Italy, such as recent family residence or an unbroken line of Italian-only citizenship.
• 2:07
  SPEAKER_00: The legislative overhaul targets administrative strain and distant genealogical claims, especially prevalent in Latin America and the U.S.
• 2:16
  SPEAKER_00: President Trump warned that taxing the rich would drive millionaires out of the U.S., but the facts suggest otherwise, argues Jimmy Sexton.
• 2:25
  SPEAKER_00: Because the United States taxes based on citizenship, even moving to tax havens doesn't exempt Americans from IRS obligations.
• 2:34
  SPEAKER_00: Expatriation is the only escape, yet it's fraught with hurdles, including exit taxes and generational penalties for heirs.
• 2:42
  SPEAKER_00: Despite the option to leave, the majority of wealthy Americans remain.
• 2:47
  SPEAKER_00: Cyprus' finance minister revealed that Cyprus has issued 28,660 golden visas since 2014, with Chinese and Russian nationals comprising the largest share.
• 2:59
  SPEAKER_00: The Golden Visa requires a 300,000 euro investment, continuous investment, and limited time abroad.
• 3:07
  SPEAKER_00: Nearly half of all residence permits issued since 2014 have been investment-based visas, signaling the program's outsized role in the country's economy and immigration framework.
• 3:19
  SPEAKER_00: As real estate options in residency and citizenship by investment programs become less prevalent, government bonds are gaining traction among investors.
• 3:28
  SPEAKER_00: Turkey leads with a remarkable 35% average annual yield on five-year bonds, though investors must navigate high inflation and currency devaluation.
• 3:38
  SPEAKER_00: Greece and Italy present lower yields of 2.6% and 2.4% respectively, appealing to risk-averse investors seeking long-term stability and potential citizenship in the EU.
• 3:52
  SPEAKER_00: Thailand's revenue department has proposed a tax exemption for foreign sourced income repatriated within two years of earning, targeting over$58.8 billion in overseas Thai investments.
• 4:05
  SPEAKER_00: This initiative aims to reverse the January 2024 policy that taxed all foreign income upon remittance, which deterred capital inflows.
• 4:14
  SPEAKER_00: The proposed exemption primarily benefits wealthy Thai nationals and tax residents with offshore assets.
• 4:21
  SPEAKER_00: Andrew Tate obtained Vanuatu citizenship in December 2022, coinciding with his arrest in Romania on charges including rape and human trafficking.
• 4:30
  SPEAKER_00: A NI Vanuatu government spokesperson stated that Tate had clearances from Interpol and UK authorities at the time of application, leading to the decision not to revoke his citizenship.
• 4:41
  SPEAKER_00: However, Manassa acknowledged that, had the allegations been known earlier, the outcome might have differed.