NEWS

A new amendment bill to Hong Kong’s immigration law that gives authorities seemingly unlimited powers to stop people from leaving and entering the city has sparked concerns amongst activists, lawyers, and the business community.

Citizenship based taxation refers to the process by which a nation taxes its citizens irrespective of their status as residents. This means that if you are a citizen of a country that taxes on the basis of citizenship and choose to reside in a foreign nation, you will still be required to pay taxes to your native home.

For decades, foreign professionals have played a key role in building the economies of Gulf states like the United Arab Emirates. Almost 90 percent of the country’s population is expatriate.

However, with a forecasted economic downturn due to the coronavirus pandemic and record low oil prices, a growing number of expatriates have begun to uproot.

In a push to dominate global financial technology, the Chinese government aims to roll out the world’s first state-backed digital currency.

If a trend defined the last few years, cryptocurrency would be it. Over recent years, digital currency has become more than just a talking point. It has developed into a viable economic asset that has captured the attention of governments and companies worldwide.

The parliament of Vanuatu approved legislation that would introduce the Real Estate Option Programme, a new programme independent from the island’s other two Citizenship by Investment Programmes.  The amendment to the Citizenship Act passed through the national assembly by 27 to 17 votes.

St Kitts and Nevis has introduced two new investment options for obtaining citizenship of the Federation. The first is purchasing a private home, and the second is partaking in an ‘alternative investment.’

Target-based affirmative action in South Africa’s Employment Equity Amendment Bill may propel certain skilled workers to leave the country to search for other career opportunities, have warned the Bill’s opponents.

The move comes after almost a year of speculation on whether Russia would go through with the initiative. In May 2020, the first draft was presented, and the Russian government has now approved the bill. The next step would be discussing the bill during the Cabinet’s Autumn session, with the potential of it coming into force in mid-2022.

One of the biggest challenges facing humanity today is none other than the climate crisis, but the fight is already hitting too close to home for some regions.

China’s  number of high-net-worth individuals (HNWIs) is expected to grow in the next five years. This growth has spurred a rapidly evolving wealth management sector. Wealthy Chinese, concerned about the security of their wealth are looking to diversify their investments with second citizenship, the ultimate Plan B.

In this article we look at the growing number of HNWIs in China, the importance of wealth management, and why investing in second citizenship in the Caribbean is the perfect Plan B for investors.

On April 9, 2021, Prince Philip, the Duke of Edinburgh, died aged 99.

A statement from Buckingham Palace said: “It is with deep sorrow that Her Majesty The Queen has announced the death of her beloved husband, His Royal Highness The Prince Philip, Duke of Edinburgh. His Royal Highness passed away peacefully this morning at Windsor Castle.”

The Duke was married to Queen Elizabeth II for more than 70 years and became the longest-serving consort in British history. He was the father of Prince Charles and the grandfather of Prince Harry and Prince William.