Are Major Tax Cuts Coming?

Read the latest on Madrid's new tax break, beach retirement options, a new tax on home equity, and more... July 18, 2024 [image] [Event]() | [Citizenship](=) Welcome to the Weekly Rundown. Former President, Donald Trump has suggested reducing the corporate tax rate from 21% to 15% if elected again, potentially halving the rate. This proposal could significantly impact the U.S. economy, with major corporations standing to gain substantial tax cuts. The proposed tax cuts aim to boost the stock market, though they could also increase the federal budget deficit. Madrid's New Tax Break to Attract Foreign Investors [image](=) The Community of Madrid has approved a new tax deduction known as the 'Mbappé Law' to attract foreign investments. The law offers a 20% rebate on investments such as public debt, company shares, and contributions to limited companies, aiming to boost employment and wealth in the region. To qualify, investments and tax residence must be maintained in Madrid for at least six years. The regulation, effective from January 1st, 2024, is part of ongoing efforts by Madrid's government to lower personal income tax and attract talent and professionals to the region. Read the full story [here](=). [image] Former President Trump Proposes Major Tax Cuts [image](=) In a recent interview, former President Donald Trump announced his plan to reduce the corporate tax rate from 21% to 15% if re-elected. This move aims to stimulate the economy and boost stock market performance. Trump also stated his intention to retain Jerome Powell as Federal Reserve chair and consider JPMorgan Chase's Jamie Dimon for Treasury Secretary. While the tax cuts could benefit large corporations significantly, they also raise concerns about increasing the federal budget deficit. Read the full story [here](=). [image] Looking for a Beach Retirement? Here Are 24 Ideal Countries [image]() As more Americans seek a relaxing post-work life abroad, retiring by the beach has become an attractive option. Economic challenges and the desire for a more affordable and enjoyable retirement have led to an increase in Americans moving overseas. Portugal, Spain, and Greece stand out as top destinations for beachside retirement, offering appealing climates, affordable real estate, and friendly visa options. These countries provide retirees with the opportunity to enjoy their golden years by the ocean. Read the full story [here](). [image] [image]( KEEP MORE OF YOUR MONEY Finally—enjoy more freedom, protect your assets, and keep more of your hard-earned money without the complexity and hassle. We'll help you reduce your taxes, get a second citizenship, safeguard your wealth, and uncover new investments. [LEARN HOW]( Is a Federal Tax on Your Home's Equity Coming? [image]( The Canadian federal government, under Prime Minister Justin Trudeau, is considering a controversial new tax on home equity. This proposed tax, supported by the Generation Squeeze lobby group, would target high-value homes, potentially costing homeowners significantly each year. The move is part of a broader strategy to promote dense urban living and discourage single-family homes. Critics argue that this tax would unfairly burden homeowners in expensive markets like Vancouver and Toronto, forcing many middle-class families to sell their homes. Read the full story [here](=). [image] Switching Citizenship? Vanuatu Offers a Quick and Affordable Option [image]( Vanuatu's Citizenship-by-Investment program is gaining popularity for people looking for a swift and cost-effective way to switch citizenship. Attracting those seeking to protect offshore wealth and avoid tax scrutiny, Vanuatu offers a fast-track citizenship process without requiring residency. This island nation's program is appealing due to its visa-free access to many countries and lower costs compared to alternatives like Cyprus and Malta. Read the full story [here](=). [image] Thinking of Leaving the U.S. if Trump Wins? Here's How You Can Do It [image]() As the 2024 U.S. presidential election looms, many Americans are contemplating leaving the country if Donald Trump wins. Brent Hartinger and Michael Jensen share their experience of emigrating after the 2016 election and provide insights into how others can follow suit. There are several ways to leave the U.S., including obtaining a retirement visa, securing a "golden visa" through investment, or becoming a digital nomad. Each option comes with its own requirements and benefits, but all offer a viable path to living abroad without giving up U.S. citizenship. Read the full story [here](). [image] [image]( THE SECRETS TO KEEPING MORE OF YOUR MONEY New to the global lifestyle and want a comprehensive guide to the offshore world? Our fast-paced, action-packed book offers a fun and detailed overview of all possibilities awaiting you. [GET YOUR COPY]() Saudi Arabia Ranks 2nd-Best for Expats in 2024 Survey [image]( Saudi Arabia has made a significant leap to become the second-best country in the world for expats, according to the latest Expat Insider survey. The Kingdom's rise from 14th place in 2023 highlights its transformation and growth. Ranked first in career prospects, Saudi Arabia outperformed the US and UAE, with 75% of expats reporting improved career opportunities. Read the full story [here](. [image] Thailand Expands Visa-Free Entry to 93 Countries [image]( Starting July 15, Thailand has expanded its visa-free entry scheme to include citizens from 93 countries, up from the previous 57. Visitors can now stay in the country for up to 60 days, a move aimed at boosting tourism and making travel more convenient. Additionally, Thailand has introduced the Destination Thailand Visa (DTV) for digital nomads, freelancers, and those seeking to learn skills like cooking and martial arts, allowing stays of up to 180 days. This expansion and new visa options are part of Thailand's strategy to attract more international visitors and boost its tourism industry. Read the full story [here](. [image] Kuwait Eases Family Visa Rules for Expats with New Salary Requirement [image](=) In a significant policy update, Kuwait now allows non-university expats to bring their spouses and children under 14 if they have a monthly salary of at least 800 dinars. This new rule has generated mixed reactions, with many expats expressing concern over the high salary threshold, viewing it as a potential barrier to family reunification. The policy aims to provide more opportunities for expats to bring their families to Kuwait, but the financial stipulation remains a contentious issue within the community. Read the full story [here](). [image] [image]() NOMAD PASSPORT INDEX 2024 See where your passport ranks in the global pecking order with the Nomad Passport Index 2024. Find out if your passport opens doors worldwide, or encounters more barriers. [YOUR PASSPORT RANKING](=) Is California Really a High-Tax State? [image]( In his "State of the State Address," Governor Gavin Newsom claimed California isn't a high-tax state compared to Florida and Texas for low-income residents. However, this overlooks California's significant tax burdens. The state has the highest individual income tax rates, a hefty corporate tax, and the highest state sales tax in the nation. Additionally, California imposes the highest gasoline taxes, contributing to a high cost of living. Despite Newsom's selective statistics, the overall tax and regulatory environment in California heavily impacts low-income residents, challenging the state's attractiveness for both residents and businesses. Read the full story [here](. [image] [image]( = = [Manage Preferences]( | [Unsubscribe]( Nomad Capitalist Limited 2301, 23F Bayfield Building 99 Hennessy Road Wanchai Hong Kong +1 (979) 966-6623