As reported by the OECD “While residence and citizenship by investment (CBI/RBI) schemes allow individuals to obtain citizenship or residence rights through local investments or against a flat fee for perfectly legitimate reasons, they can also be potentially misused to hide their assets offshore by escaping reporting under the OECD/G20 Common Reporting Standard (CRS). In particular, Identity Cards and other documentation obtained through CBI/RBI schemes can potentially be misused abuse to misrepresent an individual’s jurisdiction(s) of tax residence and to endanger the proper operation of the CRS due diligence procedures.
Potentially high-risk CBI/RBI schemes are those that give access to a low personal income tax rate on offshore financial assets and do not require an individual to spend a significant amount of time in the location offering the scheme.”
The OECD has identified the following countries and territories that potentially pose a high-risk to the Common Reporting Standard.
|
Antigua and Barbuda |
Antigua and Barbuda Citizenship by Investment |
|
Antigua and Barbuda |
Permanent Residence Certificate |
|
Bahamas |
Bahamas Economic Permanent Residency |
|
Bahrain |
Bahrain Residence by Investment |
|
Barbados |
Special Entry and Residence Permit |
|
Colombia |
Migrant (M) Visa – Category 6 or Category 10 |
|
Colombia |
Residence Visa by Investment (R visa) |
|
Cyprus |
Citizenship by Investment: Scheme for Naturalisation of Investors in Cyprus by Exception |
|
Cyprus |
Residence by Investment |
|
Dominica |
Citizenship by Investment |
|
Grenada |
Grenada Citizenship by Investment |
|
Malaysia |
Malaysia My Second Home Programme |
|
Malta |
Malta Individual Investor Programme |
|
Malta |
Malta Residence and Visa Programme |
|
Mauritius |
Occupation Permit/Permanent Residence Permit |
|
Monaco |
Residence by Investment |
|
Montserrat |
Economic Residency Programme of Montserrat |
|
Panama |
Friendly Nations Visa |
|
Panama |
Economic Solvency Visa |
|
Panama |
Reforestation Investor Visa |
|
Qatar |
Investor Residence Visa |
|
Qatar |
Residence Visa for Real Estate Owner |
|
Saint Kitts and Nevis |
Citizenship by Investment |
| Saint Kitts and Nevis |
Residence by Investment |
|
Saint Lucia |
Citizenship by Investment Saint Lucia |
|
Seychelles |
Type 1 Investor Visa |
|
Seychelles |
Type 2 Investor Visa |
|
Turks and Caicos Islands |
Permanent Residence Certificate via Undertaking and Investment in a Home |
|
Turks and Caicos Islands |
Permanent Residence Certificate via Undertaking and Investment in a Business |
|
Turks and Caicos Islands |
Permanent Residence Certificate via Investment in a Designated Public Sector Project |
|
Turks and Caicos Islands |
Permanent Residence Certificate via Investment in a Home or Business |
| United Arab Emirates |
UAE Residence by Investment |
|
Vanuatu |
Development Support Programme |
|
Vanuatu |
Self-Funded Visa |
|
Vanuatu |
Land-Owner Visa |
|
Vanuatu |
Investor Visa |
http://www.oecd.org/tax/automatic-exchange/crs-implementation-and-assistance/residence-citizenship-by-investment
Recent Comments