Citizenship or Residency by Investment Schemes Under Fire by OECD

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The OECD has recently targeted 21 jurisdictions currently offering citizenship or residence by investment schemes that potentially pose high risk to abetting tax evasion. The forum states that such golden visa arrangements can easily be abused, in order to hide an investors tax residency.

Such ventures are giving HNWIs access to lower income tax on their assets without spending that much time in the jurisdiction; ultimately undermining tax enforcement of the automatic exchange of information.