Thursday, May 8, 2025
Home Blog Page 17

Launch of Digital Nomad Citizenship Program for Governments

Prabhu Balakrishnan
-
0
Launch of Digital Nomad Citizenship Program for Governments

by World Citizenship Council

We are announcing our exciting proposals for a brand new ‘Digital nomad citizenship’ program for cash strapped nations looking to raise revenues from remote workers and entrepreneurs. This unique program was designed by World Citizenship Council, a non-profit startup in association with Best Citizenships online platform.

The Digital Nomad visa (DNV) market is expected to reach $30 billion by 2025 with millions of wealthy digital nomad expected to apply, working remotely from anywhere in beaches, open offices, cafes etc. Estonia, Antigua, Georgia, British Virgin Islands are already issuing nomad visas. The Digital nomad visa market is expected to surpass Citizenship by investment (CBI) market in few years. It will be the new future!

Covid has accelerated digital innovations in visas and immigration. The microstates and tourist economies hit hard by the crisis turn to short-term nomad visas instead. A great example is Barbados welcome stamp visa for nomads. This program raised excess of $1 million in just two months of launching the program. This 12-month welcome visa, aimed at a new breed of digital nomads, saw almost 2,000 applications between July and November 2020 and similar schemes has been emulated by several states in Europe, Caribbean and elsewhere.

We propose attaching citizenship option to digital nomad visas which is granted after one or two years.  This makes nomad visas more attractive to woo wealthy nomads.Citizenship legislations can also be enacted or amended providing a path to nomad visa holders to naturalize.

Cash strapped governments can greatly benefit from Nomad citizenship program. They can use the nomad citizenship program to raise revenues. For example filing a single application costs $2000 one time fee and $500 for additional dependants and family members.

All parameters can be fine tuned to flexibility

  • Apply for Digital Nomad Visa online. Pay a $2000 fee
  • Visa approved for 1 year (or 2 years)
  • Citizenship possibility after 1 year (or 2 years)

We propose the following conditions for granting citizenship

  • Must own a Nomad visa
  • Must spend atleast 1 day in the country
  •  Pass background checks done by the government
  • Must support financially themselves and prove net worth and fully support other family members.
  • Must own a property or rent a place of residence for one year.
  • Governments must do one final dual citizenship check from databases.

Citizenship must be granted only to nationals where dual citizenship is permitted after checking dual citizenship database. (If dual citizenship is not permitted.,visa is converted to permanent residency falling short of citizenship. In this case it become a Digital nomad residency visa program)

The Digital nomad visa grants fully residency rights to applications.  Additional benefits include healthcare, education, all other equal rights with locals,  except for voting or engage in political affairs.

The Slow path of citizenship to nomads does not make it a citizenship for sale program. It is a low risk citizenship model (away from attracting criticism and negative publicity from media outlets, european commission and anti-corruption organizations). It is neither a golden visa or citizenship by investment program, can be deployed anywhere in the world. It also gives enough time for proper vetting applicants. Governments can add additional security feature such as residence conditions before granting citizenship (for example 9 months nomad visa and 3 months residence permit).

There have been failed citizenship by investment schemes (eg. Bulgaria) did not bring much needed revenues. In these cases, CBI schemes can be scaled down or converted implementing  Digital nomad citizenship program.

Thus our simple model solves many problems associated with dual citizenship restrictions (eg. China, India), money laundering, vetting issues, negative publicity and importantly will not pose a risk to visa waiver agreements until citizenship is granted, at the discretion of the governments. This program can be easily marketed and promoted anywhere.

We believe our Digital Nomad Citizenship model will be deployed and used by over 50 nations in the next 5 years generating millions in revenues for economic developments.

The Digital Nomad Citizenship Program (DNCP) will be cheaper, easier and faster to implement. It does not require any investment but will boost demand for property market indirectly.  It is affordable for any nomad who seek citizenship or residency. It is a win-win for all bringing prosperity to governments.

Assuming governments receive $2000 for each application (at the minimum), this would collect atleast $2 million for 1000 applications received.

Governments can establish a cap on this program such as 10,000 limited visas.

Our model can be implemented by any state or governments free of charge. It is an open model which can be fully customized to any requirement.

The World Citizenship Council welcomes governments providing free advisory and assistance for launch of DNC program.

The World Citizenship Council is a non-profit startup for research, development and promotion of citizenship and residence schemes. The Council offers free membership to governments, research organizations, immigration firms and lawyers. More information can be found on worldcitizenshipcouncil.org

EU publishes non cooperative Tax jurisdictions for 2021

Prabhu Balakrishnan
-
0
EU publishes non cooperative Tax jurisdictions for 2021

The European commission has published a new list adopted by the Council on 22 February 2021.

Following the February 2021 update, there are 12 jurisdictions on the list of non-cooperative jurisdictions (Annex I).  These new list of non-cooperative  jurisdictions are

  1. American Samoa
  2. Anguilla
  3. Dominica (new)
  4. Fiji
  5. Guam
  6. Palau
  7. Panama
  8. Samoa
  9. Trinidad and Tobago
  10. US Virgin Islands
  11. Vanuatu
  12. Seychelles

The Council today adopted conclusions on the revised EU list of non-cooperative jurisdictions for tax purposes, deciding to add Dominica to the EU list of non-cooperative jurisdictions (Annex I of the conclusions) and to remove Barbados from that list.

The Council adopted the first EU list on 5 December 2017. It has since been updated several times.

The EU list of non-cooperative jurisdictions for tax purposes is a tool to tackle:

  • tax fraud or evasion: illegal non-payment or under payment of tax
  • tax avoidance: use of legal means to minimise tax liability
  • money laundering: concealment of origins of illegally obtained money

Read more here

 

St Lucia CIP celebrates its 5th Anniversary

Prabhu Balakrishnan
-
0
St Lucia CIP celebrates its 5th Anniversary

The St Lucia Citizenship by Investment Program celebrates its 5th anniversary since launching the scheme in 2015. The Citizenship by Investment Programme combines the best interests of Saint Lucia with the advantages of foreign investment.

The Official Launch of the Citizenship by Investment Programme in Saint Lucia on 29th December 2015 following Citizenship by Investment No. 14 of 2015 enacted  on 24th August, 2015 to enable persons to acquire citizenship of Saint Lucia by registration following a qualifying investment in Saint Lucia and for related matters. Successful applicants receive immediate benefits, including a Saint Lucia passport that allows visa-free or visa-on-arrival travel to more than 146 countries.

CIP Saint Lucia does not focus entirely on volume. We exist to create sustainable value for Saint Lucia and our people. We want a future where CIP Saint Lucia will continue to be a catalyst for strategic economic diversification and growth. We guarantee this Our absolute commitment to transparency, governance and due diligence.

-CEO, Nestor wrote in his blog

The St Lucia Citizenship by Investment Unit salutes the Nation, St Lucia on its 42nd Independence Anniversary. As St Lucia celebrates its 42nd Independence Anniversary, amidst COVID-19, the independence theme (A Resilient Nation- We can, We will), instils courage and a reminder that as a young nation we can conquer this virus by following all protocols and being safe

St Lucia Citizenship by investment Programme is celebrating its 5th anniversary, and we share this moment with the Nation. We move forward in fulfilling our mandate as being a sustainable liquidity source and a participant in the economic development of our country. May God bless our country.

CEO, CIP Saint Lucia – Nestor Alfred

A very good article “Passport to prosperity” with interview with Nestor recently published in the Sustainable Business Magazine

In this article, Nestor explains the screening system of vett candidates, which is at the heart of CIP preserving the integrity of the program.

At the center of Saint Lucia’s CIP is a commitment to rigorous due diligence.

“There’s some common traits amongst the islands that operate CIP programs,” says Mr. Alfred. “All these countries have beautiful sunshine, blue seas, and white sand. But here in Saint Lucia, we spare absolutely no effort regarding the conduct of due diligence. From the outset, the island decided that the grant of citizenship ought not to be in the hands of politicians, but in the hands of competent technocrats and so legislation provided for the setting up of a board of directors, who are charged with the final decision over whether any individual citizenship is granted or denied. Likewise, Saint Lucia’s legislation

We work closely with CARICOM IMPACS and through its “sister” organization, Joint Regional Communication Centre based in Barbados, together with our own Law Enforcement, to ensure that before we grant citizenship, intelligence information is obtained on every single applicant.

It is essential that we know whether any applicant is wanted by any other country; whether they’re on Interpol red lists; or whether they’re involved in criminal or terrorist activities. To ad-vance the due diligence process further, we have contracted international due diligence firms. These firms have the responsibility to create a profile of our applicants, to confirm that they exist, they have friends, a home, a workplace. Without deliberate due process, we know that we cannot make an informed decision on the grant/decline of citizenship to any applicant.”

“Since the pandemic began, the CIP has recorded its best performance in 5 years with an increase in revenue with excess of 100%”  said Nestor in the publication.

Portugal Approves Changes to Golden Visa Scheme

Prabhu Balakrishnan
-
0
Portugal Approves Changes to Golden Visa Scheme

Portugal Government has approved Golden visa Decree Law No. 14/2021  that makes important changes coming into effect from Jan 1, 2022. The new legislation was published on Government gazette on Feb 12

The Decree law 14/2021 which comes in to force  increases of the amounts involving “Investment activity” for real estate and capital transfer investments. Here are brief summary of the most important changes.

The new decree-law aims to bridge regional differences, promoting quality of life and sustainable development in rural and inner regions of Portugal

  1. The acquisition of property with a value equal to or over 500,000€ is only allowed when the dwellings are located in the Autonomous Regions of the Azores and Madeira or in inland territories. This is increased from €280K/350K minimum.
  2.  Capital transfer investments will also increase for Bank deposits or Govt bonds) increases to €1.5 million euros  (from €1 million)
  3.  Capital transfer in the amount equal to or higher than 500,000€, which is applied in research activities developed by public or private scientific research institutions, integrated in the national scientific and technological system;
  4.  Capital transfers equal to or greater than 500,000€, for the acquisition of investment units in investment funds;
  5.  Capital transfers in the amount equal to or higher than 500,000€, for the incorporation of a commercial company with registered office in national territory.

Cyprus lays out stricter criteria for naturalization

Prabhu Balakrishnan
-
0
Cyprus lays out stricter criteria for naturalization

The Cypriot government has laid out new stricter criteria to be fulfilled before the granting of Cypriot citizenship, after suspending investment scheme in Nov 2020, according to Daily Politis.

The Amendments to the Citizenship law will be introduced into the law after the as new bill passed in the parliament

The new qualifications proposed are as follows.

  • Basic knowledge of Greek language (B1)
  • Good character
  • No criminal record
  • Stable financial resources to afford social security etc.
  • Knowledge of history and culture
  • 7 years of legal residency. Applicants must be legally residing in the republic for the last 12 months, and for 10 years prior to their application with a total time spent on the island of not less than seven years during that period.

The Civil registry and migration department accepts applications submitted by foreign nationals, who have completed seven years of legal residence in the Republic prior to the date of application. In cases of aliens who are either parents or children of Cypriot citizens the time required is five years rather than seven.

What is BN(O) Passport?

Prabhu Balakrishnan
-
0
What is BN(O) Passport?

The Hong Kong SAR Government officially announced de-recognition of the British National (Overseas) (BN(O)) passport as a valid travel document and proof of identity.

Effective from January 31, BN(O) passports cannot be used for immigration clearance and will not be recognised as any form of proof of identity in Hong Kong.

The measures include that the BN(O) passport cannot be used for immigration clearance in Hong Kong. Hong Kong residents concerned may continue to use their Hong Kong SAR passports or Hong Kong permanent identity cards for entering or departing the city.

Those few Hong Kong permanent residents who are not of Chinese nationality and who may only hold BN(O) passports but not any other valid travel document, they may apply to the Immigration Department for Document of Identity for Visa Purposes for international travel.

What is BN(O) Passport?

The BN(O) passport, is a British passport for persons with British National (Overseas) (BN(O)) status. The passport was first issued in 1987 after the Hong Kong Act 1985

Front Cover BN(O) Passport
Front cover of the current BN(O) passport, now identical to the UK passport – Source: Wiki

From 31 January 2021, BN(O) passport holders can apply for limited leave to remain allowing them to work or study in the UK for 5 years, and then apply for settled status after that. The holders can then apply for citizenship after 12 more months.

After the transfer of sovereignty of Hong Kong to the People’s Republic of China on 1 July 1997, the British National (Overseas) passport became the most popular travel document among the people of Hong Kong. From April 1997 to the end of 2006, the British government has issued a total of 794,457 BN(O) passports. The peak was reached in 2001, when 170,000 were issued in a single year.

Ireland imposes entry visa requirements to South American countries

Prabhu Balakrishnan
-
0
Ireland imposes entry visa requirements to South American countries

Ireland has imposed entry and transit visa requirements to South american countries due to Covid situation

As part of Government efforts to tackle the pandemic, Minister for Justice Helen McEntee has signed an order that will impose new visa requirements on passport holders from a number of South American countries and South Africa. This order and the associated measures came into effect at midnight on Wednesday 27th January 2021.

In addition to the new requirements above, we have also taken the decision to temporarily cease accepting new visa/preclearance applications. This is effective from close of business 29th of January 2021.

As of midnight 27th January 2021, in addition to countries who were visa required prior to that date, passport holders of the following countries are now also required to apply for an entry visa or transit visa, as appropriate, before travelling to Ireland:

  • Argentina
  • Bolivia
  • Brazil
  • Chile
  • Colombia (transit visa now required – this country is already subject to entry visa requirements)
  • Ecuador (transit visa now required – this country is already subject to entry visa requirements)
  • Guyana
  • Paraguay
  • Peru (transit visa now required – this country is already subject to entry visa requirements)
  • South Africa
  • Suriname (transit visa now required – this country is already subject to entry visa requirements)
  • Uruguay

The official announcement is available here

Brexit, NHR, Golden Visa and Cryptocurrency – A Perfect Plan?

Prabhu Balakrishnan
-
0
Brexit, NHR, Golden Visa and Cryptocurrency – A Perfect Plan?

On January 31st, 2020, Brexit took place, and the United Kingdom left the European Union, becoming a third country. The formal agreement was signed after 10 months of discussion and one week before the end of the transition period.

The document brought together the possible agreement of both parties, called the Trade and Cooperation Agreement, has more than 1,200 pages and focuses mainly on the issues related to the exchange of goods, security, fisheries, aviation, free trade, horizontal governance agreements and competition rules and will be provisionally applied until February 28th, 2021.

Portugal always recorded a strong presence of the British community in its territory, either on a seasonal basis, for tourism (about 4.767,764 citizens / year), or on a permanent basis by having UK nationals establishing their residency here. According to the official data from the Foreigners and Borders Services (SEF) of 2019, the United Kingdom is the third most representative foreign nationality in Portugal, with around 34.358 British citizens registered in Portugal. With the Brexit announcement, the number of new applications for Portuguese residency rose from 1.500 in 2019 to 2.500 per month in 2020.

Arguments such as proximity (less than 3 hours flight to any of the 5 Portuguese international airports), sharing the same time zone (GMT), a significantly lower cost of life, the variety of international schools, the day-to-day security (having the Global Peace Index stating that Portugal is one the safest country in Europe and the third safest country in the world) or even the fact Portugal it is the seventh country in the world with the best English proficiency (according to the EF English Proficiency Index report) are the ones that may justify the choice of Portugal as the destination country for many Britons.

With the departure of the United Kingdom from the European Union, UK nationals no longer benefit from the European right of free movement. In particular, the aforementioned agreement establishes a distinction between short and long term stays, resulting in British nationals only benefiting from free entry into Portugal (or Schengen area) without the need for a visa, when coming for tourism, for 90 days every 180 period.

Regarding the long-term stays, given that the United Kingdom is now considered as a third country, it will be necessary to obtain a visa at the Portuguese Consulate in the United Kingdom to enter and stay in Portuguese territory for longer periods than 90 days. Among the different immigration options, which include the visa for working purposes – to study or for entrepreneurship – we have the passive income visa (D7 Visa) standing for, being of particularly interest for pensioners, as well as the visa for highly qualified professional activities – the D3 Visa – and the Golden Visa/ARI, which is the most flexible option as it does not require prior procedures at the Portuguese Consulate in the United Kingdom (it is requested and granted in Portugal), does not require that the holder stays in Portuguese territory for more than 7 days/year (although it can also be used to reside, if the holder chooses so) and depending only on making an investment in the Portuguese territory.

Such investments can have a financial focus (bank deposit, acquisition of shares, public debt or units in an investment fund or venture capital fund), or it can be through real estate (acquisition of one or more properties), creation of jobs, creation of companies or strengthening their social capital, or even through support of artistic, technological, or scientific research activities. The minimum investment amounts are defined by law, depending on the investment option and starting at € 200,000.00. From July 2021, the minimum investment values ​​will be subject to updates, particularly with regards to real estate investments, and will be also subject to some geographic restrictions.

Often confused with the immigration process, Portugal has the NHR regime – Non-Habitual Tax Residency regime, a special tax regime that aims to attract to the country professionals who exercise activities of high added value or intellectual property, and pensioners who are seeking to see reduced their tax burdens in Portugal, changing their main residency to Portugal.

This status can be enjoyed for 10 years and grants interesting tax benefits that vary depending on the type of income received by the new residents. For example, income obtained in Portuguese territory derived from dependent or independent work activities such as high added value ones (certain skilled workers in agriculture, animal production, clothing, electronics, or other industries, as well as managers, medical doctors, administrators, writers, artists, jewelers, specialists in information and communication technologies, and also architects, psychologists, teachers, etc.) will benefit from a fixed tax rate, at PIT level, of 20%.

Regarding taxpayers who obtain income from dependent or independent work from abroad, the tax exemption method applies, meaning that they do not pay taxes in Portugal provided that the income is, or can be, taxed in another country (the source country). In case of a pensioner, the income will be subject to a tax rate of only 10% in Portugal. In terms of passive income (such as interest or dividends), taxation may even be inexistant in Portugal! In all cases, the taxpayer who changes his tax residency to Portugal under this regime will always benefit from the advantageous conditions resulting from the tax agreements that Portugal has entered into with several States to avoid double, and will be able to see their capital/wealth not being taxed (as, in general rule, the Tax Law only foresees taxation over income) nor being subject to inheritance taxation.

Special treatment will be given to cryptocurrency. In fact, at a worldwide level, Portugal is one of the (very) few countries that do not tax digital currencies because it is the understanding of the Portuguese Tax Authority that cryptocurrencies cannot, technically, be considered “currencies”, although, in fact, they can be exchanged for physical currencies. The lack of clear and specific regulation regarding the taxation of this type of income and the lack of rules in the tax law remain, without any changes announced in the State Budget for 2021.

A different situation will occur in the professional or business activities of cryptocurrency trading: these transactions may be subject to taxation as income resulting from the exercise of a recurring activity and not depending on the origin / type of income. Even so, several companies have already applied for registration to be able to carry out activities with virtual assets in Portugal.

Portugal has shown itself to be a country particularly opened to innovation and to the transition to the Digital Age, which is one of the pillars of its mandate, as head of the Presidency of the European Union in 2021, and one of the reasons for being considered one of the European countries with best ranking in the Annual Digital Economy and Society Index.

As such, it is not a surprise, the notorious growth of the foreign population – a 22.9% increase in the last year according to official data –that has decided to settle in Portugal, benefiting from immediate access to Portuguese nationality, and consequent European citizenship for their children who are born in Portugal, and for themselves after 5 years.

Contact: Sara Rebolo, +351 937855962
www.caiadoguerreiro.com

Samurai Wooden passports in Ancient Japan

Prabhu Balakrishnan
-
0
Samurai Wooden passports in Ancient Japan

by World Passport Museum

Today Japanese passport is one of the powerful passports in the World.  Do you know the history of passports in Japan?

1603 – 1868

The Wooden passports (known as Tsuko-tegata) used during Edo Period (1603 and 1868) is a japanese tradition for authorization permission for travelers in Japan, passing from region to region. The Edo is the period between 1603 and 1868 in the history of Japan, when Japan was under the rule of the Tokugawa shogunate and the country’s 300 regional daimyō. During that time strict controls were enforced on movement.

It was issued to Samurai and ordinary people. It was also issued to women.

Wooden Passport Samurai
This wooden board passport was issued to Samurai – Source: ebay

The passport for Samurai in the form of tsuko-tegata to be issued at Hancho (government building of domain).For the common people, town or village officers, or their family temples to issue their tsuko-tegata

The most common reasons for the issue of Tsuko-tegata are for travels, such as house moving, official or commercial trip, visiting temples and shrines, a hot-spring cure, and in cases of women, marriage and live-in domestic service.

In the Edo period, sekisho (checking stations) and kuchidome-bansho (checkpoints) were set up at various places to strictly control the movement of people.

The wording of the Wooden passport, quite similar to that of the current passport. It had Identity of the person who carried the tsuko-tegata, purpose of travel (such as visiting temples and shrines in various provinces), request for passing sekisho, request for convenience and protection to related officers, identity and address of the issuer and the like were written on it.

The wording of tsuko-tegata is quite similar to that of the current passport. Identity of the person who carried the tsuko-tegata, purpose of travel (such as visiting temples and shrines in various provinces), request for passing sekisho (checkpoints), request for convenience and protection to related officers, identity and address of the issuer and the like were written on it.

Today you can find the wooden japanese passport as an important souvenir item in temples, shrines, holiday resorts etc as an evidence of the passport. You cannot miss out on this important piece of history when visiting Japan.

1866

The first travel documents for overseas travel by Japanese citizens were introduced in 1866, near the end of the Tokugawa shogunate. These documents took the form of a stamped “letter of request” allowing Japanese citizens to travel overseas for business and educational purposes.

The term “passport” was formally introduced into the Japanese language in 1878

1866 Japan Passport
1866 Japanese Passport – Source: Wiki

1900

In 1900 the first regulations governing the usage of Japanese passports were introduced.

1926

The modern form of the Japanese passport first came about in 1926, and the first ICAO-compliant, machine-readable Japanese passports were introduced in 1992

Japan passport
The Japanese passport  ‘Nihonkoku ryoken’ are issued to Japanese citizens to facilitate international travel. With 191 visa-free travels, it’s the strongest passport in the world.

Image Credit for Tsuko-tegata : Ebay

Antigua CIP: 366 applications received for 2020

Prabhu Balakrishnan
-
0
Antigua CIP: 366 applications received for 2020

The Budget Statement 2021 was presented by Honourable Gaston Browne on 28th January 2021. During his speech he outlined the importance of revenues from CIP.

Here is a quick summary :

Covid effects

Due to effects of Covid, global lockdowns and travel restrictions, Gross Domestic Product (GDP) in the ECCU plummeted by 16.2 per cent for the year 2020.

Antigua also suffered devastating effects with GDP declined from 4.5% to 3.6% in 2020.  The tourism decline a 62.5 per cent reduction from the 1.05 million visitors recorded in 2019.  Faced with severe shocks from the pandemic, economic activity in Antigua and Barbuda is projected to have declined by 17 per cent in 2020.

This decline in visitor numbers, combined with shutdowns, implementation of curfews and social distancing measures, resulted in a 63.6 per cent contraction of the hotel and restaurant sector for 2020 as compared to growth of 7.7 per cent in 2019. Additionally, the construction sector, which had real growth of 6.6 per cent in 2019, is projected to decline by 22 per cent in 2020.

NON-TAX REVENUES OF THE CITIZENSHIP BY INVESTMENT PROGRAMME

The significant damage to our economy by the global effects of COVID- 19 underscored the importance and benefits of the Citizenship by Investment Programme (CIP).

As tax revenues fell rapidly and swiftly, it was – and continues to be – that the CIP has helped to sustain our economy, said the budget report.

In 2020, a total of 366 applications were received, representing a 22 per cent decrease from the previous year.  Nonetheless, the CIP generated $115.7 million in 2020.

“We have set a target to double the number of applicants in 2021, and every effort will be made to achieve it”. said PM Browne

The full statement is available here as pdf

1...161718...197Page 17 of 197
© Newspaper WordPress Theme by TagDiv