Tax: American citizenship renunciations to benefit UAE and global CBI

[Martin Everson]

Passport Legacy cites surge in American citizenship renunciations to benefit UAE and global CBI

More than 150,000 people have now been awarded the UAE’s Golden Visa since 2019

www.zawya.com

 

[troubled soul]

For average Millionaire, most country have very high rate of tax, in some case It is more than 50% ,It is kind of robbery ....Most rich people left the home country due to high taxation and corruption .....incoming days this trend continue to increase......

 

[Martin Everson]

It will indeed increase as people are more mobile than ever and have access to more information than ever.

 

[JackAlabama]

It will indeed increase as people are more mobile than ever and have access to more information than ever.

That does not look good for future travel freedoms. If every average Joe can jump out the tax frying pan of the desperate western states, people control will follow capital control.

 

[kkein]

That does not look good for future travel freedoms. If every average Joe can jump out the tax frying pan of the desperate western states, people control will follow capital control.

Well, there's an easy way around, for the western states: keep incomes low so that most alternatives become not financially viable.
The fewer high income individuals the better.

 

[Donsted]

That does not look good for future travel freedoms. If every average Joe can jump out the tax frying pan of the desperate western states, people control will follow capital control.

If the Berlin Wall couldn't stop eastern Germans from moving west, how can people control do better? For determined people, it may just create a little hassle. It can't stop the flow

 

[JackAlabama]

If the Berlin Wall couldn't stop eastern Germans from moving west, how can people control do better? For determined people, it may just create a little hassle. It can't stop the flow

Sure, it is also not much in the interest of any current regime to keep the unhappy there (and causing troubles there, otherwise they just go and disappear). It is only the step before it crashes.

 

[JimBeam]

So, basically a US HNWI would renounce his US citizenship then take buy some island passport CBI (Kitts, Antigua etc) and then with that passport move into UAE and get a golden visa there.

They are not getting UAE passports, right?

 

[Martin Everson]

So, basically a US HNWI would renounce his US citizenship then take buy some island passport CBI (Kitts, Antigua etc) and then with that passport move into UAE and get a golden visa there.

Get second passport before renouncing then move to UAE. You cant be stateless after renouncing your citizenship.

They are not getting UAE passports, right?

You can apply if you meet the criteria for citizenship.

 

[rowena]

So, basically a US HNWI would renounce his US citizenship then take buy some island passport CBI (Kitts, Antigua etc) and then with that passport move into UAE and get a golden visa there.

They are not getting UAE passports, right?

If you're not a billionaire or world famous celebrity then not possible right now.

I am expecting a CBI program in the near future because they have already announced it. I believe they will require 5M AED($1.4M) real estate investment for citizenship.