Latest / IMI Podcasts / This Week in IMI - Aug 21: How to Get Residency in Japan, UK Swaps Out Non-Dom Tax Regime, Spanish Faction to Save the Golden Visa?, ++

Transcript

This Week in IMI - Aug 21: How to Get Residency in Japan, UK Swaps Out Non-Dom Tax Regime, Spanish Faction to Save the Golden Visa?, ++ · IMI Podcasts

• 0:00
  SPEAKER_00: You're listening to IMI This Week.
• 0:03
  SPEAKER_00: Japan has made strides to loosen its historically restrictive immigration policies, particularly through the business manager and skilled worker visas.
• 0:12
  SPEAKER_00: Driven by Japan's labor shortages and relatively lenient policies, this has created new opportunities for Asian migrants with high success rates in industries like agriculture, manufacturing, and services.
• 0:27
  SPEAKER_00: Hanama highlights the business and capital investment requirements for obtaining the Japanese Business Manager visa, as well as the potential for further relaxation of immigration policy and business opportunities for Asian migrants in Japan.
• 0:41
  SPEAKER_00: The UAE's Golden Visa program has seen a surge in demand with over 158,000 visas issued in 2023, driven in part by Russian investors purchasing US$6.3 billion in Dubai real estate.
• 0:55
  SPEAKER_00: In a panel discussion about the first five years of the program, Jeremy Savory and IMI pros David Lincoln, Kamal, Nicholson, and Philippe may weigh in on its evolution, unique proposition, and future.
• 1:10
  SPEAKER_00: The analysts agree that the UAE may evolve the Golden Visa or introduce more specialized visas to to meet their changing economic and social objectives, build a taxable population, and cement the country as a premier global destination.
• 1:29
  SPEAKER_00: By implementing the EB5 Reform and Integrity Act of 2022, the U.S.
• 1:36
  SPEAKER_00: Citizenship and Immigration Services has introduced new guidance to address noncompliance and sanctions under the EB5 Immigrant Investor Program.
• 1:46
  SPEAKER_00: The guidelines clarify the protections available for good faith investors and articulate the circumstances under which the USCIS would terminate regional centers and debar new commercial enterprises or job-creating entities, while the USCIS aims to improve program integrity.
• 2:03
  SPEAKER_00: Experts Lulu Gordon and Haya Farag argue the policy preserves options for investors to maintain their eligibility.
• 2:12
  SPEAKER_00: The Canadian Government Agency Immigration, Refugees and Citizenship Canada has taken over sole administration of the Startup Visa Program, ending partnerships with the National Angel Capital Organization and the Canadian Venture Capital and Private Equity Association.
• 2:29
  SPEAKER_00: Now directly designating venture capital firms, angel investor groups, and incubators, the IRCC will also address the program's growing backlog and problematic due diligence process.
• 2:41
  SPEAKER_00: Slava Apple says designated organizations celebrated the news, while Chris Lennon states it ends some consultants' cosy relationships.
• 2:51
  SPEAKER_00: The Spanish government has proposed an amendment to eliminate the country's golden visa program, citing concerns over its impact on the real estate market and lack of job creation.
• 3:01
  SPEAKER_00: However, Dr.
• 3:03
  SPEAKER_00: Yacinto Sola Matutis believes the amendment is unlikely to succeed due to the weak position of the ruling coalition in Parliament and opposition from the influential Catalan faction.
• 3:15
  SPEAKER_00: Even if passed, the amendment would include provisions to protect existing visa holders, and any practical changes would take at least six to nine months to implement.
• 3:26
  SPEAKER_00: The UK government plans to replace the non-domicile tax regime with a new four-year foreign income and gains system alongside a new residence-based inheritance tax regime starting April 2025.
• 3:41
  SPEAKER_00: The system includes a new four-year tax-free period for foreign income and gains for new UK residents, but expert Jimmy Sexton warns it's already too late.
• 3:52
  SPEAKER_00: He claims that the UK is, quote, making every wrong financial decision possible, end quote, and that competing jurisdictions like the UAE, Italy, and Switzerland stand to benefit.
• 4:04
  SPEAKER_00: Thanks for joining us today on IMI Podcasts.
• 4:07
  SPEAKER_00: Subscribe for free to the IMI Daily Newsletter for breaking news and updates from the investment migration industry.
• 4:15
  SPEAKER_00: And consider upgrading your membership to IMI Pro to get access to our exclusive professional community, industry events, data, and members only content.