OECD: Requests Regime to Prevent Citizenship by Investment Abuse

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The G20 membership countries will convene together in Paris to discuss the launch of a new OECD driven initiative which will ultimately prevent investors using various citizenship by investment programmes as a newly devised way to avoid disclosing their financial account information between jurisdictions.

The OECD states it has received a ‘substantial response’ to its conference on the issues surrounding citizenship by investment and has prepared a wide range of suggestions to address it. One idea has been released that will potentially involve spontaneous checks and requests for an information exchange aimed specifically at those who have obtained residence/citizenship through such programmes.