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Switzerland Suspends Visa-Free Travel for Vanuatu Citizens Until February 2023

Switzerland has decided to no longer permit to enter the country visa-free Vanuatu citizens whose passports were issued on or after May 25, 2015.The decision has been taken on June 10, 2022, during a meeting of the Federal Council, according to a prior decision of the European Union’s Council to partially call off the visa waiver agreement with Vanuatu taken in early March upon an evaluation of the EU that Vanuatu’s investor citizenship programs, also known as Golden passports, bring risk to the EU countries.In a press release issued by the Federal Department of Justice and Police, which functions within...

Turkey tightens foreign citizenship investment from June

Erdogan government raises amount that foreigners must invest in property in order to become eligible for citizenship ANKARA: A price hike for foreigners seeking citizenship through real estate investment is the latest attempt by the Turkish government to ease the country’s financial woes. The move is estimated to help Turkey overcome its current account deficit and change the profile of foreign investors. “Only up to June 3 you can apply for Turkish citizenship by investing $250,000. Obtain a Turkish passport and citizenship in the most prestigious projects in Istanbul,” a popular advertisement reads. Amid widespread criticism of skyrocketing house prices...

Denmark Wants to Change Its Permanent Residency Employment Criteria

Becoming a Danish permanent resident could become easier than before, as the New Danish Minister for Immigration and Integration, Kaare Dybvad Bek, has expressed his intentions to facilitate the procedure for workers.  In an interview with Politiken newspaper, Minister Bek said that people engaged in paid internships should be considered as sufficient criteria for permanent residency, saying he wants Denmark’s immigration rules to be “tight, but not crazy,” SchengenVisaInfo.com reports.  More specifically, the minister said that internships and trainee programs should count toward the work requirement, indicating that applicants for permanent residency must have worked for at least three years and six...

Montenegro Promises EU to Terminate ‘Golden Passport’ Scheme

By Samir Kajosevic Prime Minister Abazovic on Thursday in Brussels vowed to end the economic citizenship program by December 31, following criticism of such programs by the European Commission. Montenegrin Prime Minister Dritan Abazovic on Thursday said during his first official visit to Brussels that the controversial economic citizenship program will end on December 31. Abazovic’s minority government was elected on April 28, with a one-year mandate to prepare for early elections next spring.   “The government understands the negative comments of the European Commission when it comes to the program of economic citizenship. I think it is clear that the...

How the updated Golden Visa regulations are spurring demand for Dubai’s real estate

By Nabila Rahal Ten-year-residency and similar initiatives, coupled with UAE’s coronavirus response, are the driving forces behind property market’s success, the ZāZEN Properties COO said Recent updates to the UAE’s Golden Visa regulations have a positive impact on many sectors, including Dubai’s real estate said, Madhav Dhar, Co-founder and COO, ZāZEN Properties. Dhar credits the recent updates to the ten-year residency, along with the successful coronavirus response that the UAE exhibited, for the significant recent boom in Dubai’s property market. In an exclusive interview with Arabian Business, Dhar also discusses the importance of sustainable real estate, especially in light of the UAE hosting COP28...

First-Class Tax Opportunities: Golden Visas And Passports

By Tax Notes Staff Elodie Lamer and Nana Ama Sarfo of Tax Notes discuss the tax implications of golden visas and passports, which allow affluent foreigners to receive residency or citizenship in exchange for a minimum level of investment.   This transcript has been edited for length and clarity. David D. Stewart: Welcome to the podcast. I'm David Stewart, editor in chief of Tax Notes Today International. This week: good as gold. The idea of immigration often conjures up black and white images of huddled masses on ships in New York Harbor. People seeking new opportunities to make their fortune. But what happens for people...