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Portugal Golden Visa on Track for Best Year Since 2019

In a televised speech on Saturday, Greek Prime Minister Kyriakos Mitsotakis announced that the minimum investment amount required under the property investment option of the golden visa program is set to double. “In order to increase the affordability of real estate for Greeks, we are now increasing the minimum amount of investment required for the issuance of a Golden Visa from EUR 250,000 to EUR 500,000,” stated Mitsotakis. The measure was announced at the Thessaloniki International Fair as part of a wider set of economic policies to be implemented, and the Prime Minister did not expound in detail on the...
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British Virgin Islands: BVI FSC Recognises Fusang Exchange As Its First Digital Securities And Asset Exchange

By Christopher SimpsonThe British Virgin Islands Financial Services Commission (FSC) has recently recognised Asia-based Fusang Exchange Ltd as its first digital securities and asset exchange. The Exchange was recognised by way of an amendment to the British Virgin Islands Regulatory Code (Recognised Exchanges) Notice, 2015, and took effect on January 5, 2022. The recognition paves the way for Asian-based, BVI-registered companies to benefit from the efficiencies of listing their shares digitally via equity tokens.Fusang joins other leading global exchanges such as the London Stock Exchange, the New York Stock Exchange, the Tokyo Stock Exchange, and the Toronto Stock Exchange, which...
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Private Capital: Navigating the Future

Yogi Berra, the iconic American baseball catcher, famously said: "Make a game plan and stick to it. Unless it's not working."   US Federal Reserve Chair Jerome Powell may have had this quote in mind when he delivered his 'Jackson Hole speech on August 26th, as the world's Central bankers gathered in Wyoming for their first in-person economic symposium for some years. In contrast to his more optimistic and discursive 2021 effort (promoting maximum employment and transitory inflation), Chair Powell was short and direct, taking just 8 minutes and 49 seconds to deliver his speech. The price stability imperative and...
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Mzt Aerospace Park in Mazatlan will be a benchmark in the industry

MAZATLAN, SIN – The construction of the Mzt Aerospace Park in Mazatlan, Sinaloa, aims to be the new research and development hub for the aerospace industry in Mexico.   This project has a feature that will make it more attractive, which will have its own airstrip to test experimental aircraft, as well as to provide maintenance to the aircraft through an MRO.   Lino Suárez Guzmán, Mexican entrepreneur and partner of Singular Aircraft, stated that the park was created to promote and develop the aerospace industry. The construction project of the Mzt Aerospace Park consists of two stages, the first...
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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...
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What is the global minimum corporate tax? The global minimum corporate tax on MNCs was aimed at discouraging them from shifting profits to low-tax countries. But it will reduce the incentives to attract investment in developing countries.

By Krishna Veera VanamaliCorporate tax avoidance costs countries anywhere from $100 billion to $240 billion annually, equivalent to 4-10% of global corporate income tax revenues, according to estimates from the Organisation for Economic Co-operation and Development or OECD.Developing countries are disproportionately affected because they tend to rely more heavily on corporate income taxes than advanced economies.The existing international tax rules are based on agreements made in the 1920s and are today enshrined in the global network of bilateral tax treaties. But they present two problems.The first is that the old rules provide that the profits of a foreign company can...
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What Belt & Road Slowdown? China Tops Global Outbound Investment And Inbound Investment Rankings And Just Liberalized Hong Kong’s Financial Services Industry

By Chris Devonshire-EllisForeign direct investment and China's outbound investment have hit record levels.      Western media often takes aim at China’s Belt and Road Initiative, which has to be one of the inaccurately reported of all China’s State Initiatives. Readers themselves will be familiar with discussions of ‘slowdowns’, ‘disruptions’, ‘debt traps’, and all manner of problems. It is a similar story of China's domestic slowdowns, with a strict Covid policy attracting all sorts of negative attention amongst stories of ex-pats leaving China and Hong Kong ‘in droves’.While the latter to some extent is partially true, it is also understandable. Strict lockdown regulations...
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Cayman Islands: Amendment Intended To Attract Investment And Benefit Clients

By Ministry Of Financial Services By giving institutional investors more investment options, the Insurance (Amendment) Bill, 2022 is intended to strengthen the Cayman Islands' position in international reinsurance and domestic insurance.Minister of Financial Services and Commerce, the Hon. André Ebanks, will bring the amendment to the Cayman Islands Parliament during its third meeting of the 2021-2022 session, which will begin on Wednesday, 8 June.He also will present the Public Recorder (Amendment) Bill, 2022; and table the Auditors Oversight Authority's Annual Report for the Year Ended 31 December 2021, and Audited Financial Statements for the year ended 31 December 2021.Minister Ebanks said...