🇵🇹 Portugal's Golden Visa Might Just Make It

June 22, 2023 [image] [Event](| [Become our Client](=) Welcome to the Weekly Rundown. This week, it's all about Portugal's surprise play. The governing Socialist Party (PS) is not scrapping the Golden Visa Program entirely, as expected, but only looking to prune certain investment options. Parliament is due to have its final say on the amendments on July 19th. We're in for some drama as we wait to see how this all plays out. But one thing's for sure, this week just got a lot more interesting. Hunter Biden's Curveball: Guilty Plea on the Horizon [image](=) In an unexpected development, Hunter Biden, son of US President Joe Biden, is set to admit to tax misdemeanors and illicit gun possession. This comes as a resolution to a longstanding investigation, potentially sparing him from incarceration. The plea agreement is now awaiting judicial approval. The situation has sparked contentious responses from political quarters, with Republicans decrying perceived preferential treatment and Democrats largely abstaining from comment. This case certainly adds a new dimension to the political landscape. Read the full story [here](=). [image] Portugal's Government To Retain Program, Alters Investment Options [image]( In a remarkable turn, Portugal's governing Socialist Party (PS) has proposed amendments to the contentious housing bill, proposing to retain the Golden Visa Program while removing only real estate investments and capital transfer bank deposit options. The party, which holds a majority in Parliament, plans to maintain several investment routes, such as job creation, scientific research contribution, and venture capital. Despite appearing hastily put together, the proposed amendments are expected to pass into law following a discussion period, with the industry anticipating clarity by July 19th. This shift could significantly impact the country's investment landscape as the new law could take effect as early as August. Read full story [here](. [image] Ireland Offers up to $90,000 for Relocating to its Idyllic Islands [image]() Ireland is set to revitalize over 20 of its beautiful islands with a new scheme that encourages potential dwellers to refurbish vacant or dilapidated homes. The country is offering increased grants of up to €84,000 (nearly $92,000) to those willing to renovate and live in these properties. The islands include Inis Mór, which features in the Hollywood movie “The Banshees of Inisherin”, and 10 Irish-speaking Gaeltacht islands. Vacant Home Officers are currently identifying eligible properties, but potential islanders should note that property ownership does not necessarily ensure residency rights. Read the full story [here](. [image] [image](=) NOMAD CAPITALIST THE BOOK Andrew Henderson wrote the #1 best-selling book that redefines life as a diversified, global citizen in the 21st century… and how you can join the movement. Now Available in 5 Languages [Get Your Copy]() Supreme Court's Decision Lightens Penalties for Some Gun Offenses [image]( A recent unanimous ruling by the US Supreme Court stated that some individuals convicted of gun crimes can serve their prison sentences concurrently. The decision was centered around two subsections of the 18 U.S.C. 924 law. Justice Ketanji Brown Jackson, appointed by Biden, noted that the decision maintains the design Congress chose for the penalty scheme. The case was brought forth by Efrain Lora, who was convicted of assisting in a firearm-related murder during a drug trafficking crime. His appeal resulted in the Supreme Court deciding in his favor, leading to the vacation of his prison term and the order for new sentencing. The Department of Justice has not yet commented on the ruling. Read the full story [here](. [image] Bitcoin Ascends to a Six-Week Peak [image](=) Bitcoin soared to its highest value since early May, propelled by crypto activities involving leading entities from the conventional financial sector. Crypto investors have been encouraged by the initiation of EDX Markets, a digital asset exchange supported by companies such as Citadel Securities, Fidelity Digital Assets, and Charles Schwab Corp. In addition, both BlackRock Inc. and WisdomTree Inc. have recently filed applications to launch US Bitcoin exchange-traded funds. Despite a crackdown by the US Securities and Exchange Commission on crypto, these institutional advances are fostering optimism and depth in the crypto market. Read the full story [here](). [image] Pentagon Reveals $6.2B Overstatement in Ukraine Aid [image]( The US Department of Defense has acknowledged an overestimation of $6.2 billion in the value of military assistance sent to Ukraine over the last two years. This accounting discrepancy arose from officials using the replacement cost of weapons instead of their net book value. The miscalculation, which is twice as much as what was projected last month, doesn't restrict or impact the support extended to Ukraine. This comes amidst Ukraine's ongoing conflict and its plea for more assistance from Washington, and while concerns are raised about potential policy shifts if support for Ukraine diminishes among future US leadership. Read the full story [here](. [image] [image]( Get An Inside Look Into How Nomad Capitalist Can Help You We’ve helped our clients go to more countries and coordinated between more countries than any other firm. Learn more about how our process works from our guide. [Get Your Guide]() Singapore Tops the List of World's Costliest Cities in 2023 [image]( The Julius Baer Lifestyle Index has ranked Singapore as the world's most expensive city in 2023, surpassing Shanghai, which held the top spot in 2022. The index considers the cost of 20 luxury lifestyle items such as high-end residential property, luxury cars, business-class flights, and extravagant dinners. Significant cost increases were also observed in Miami, Dubai, Jakarta, and New York due to surges in demand for premium consumables, hospitality services, and post-pandemic travel and entertainment. The report attributes these cost hikes to inflation, supply chain disruptions, currency fluctuations, and rising energy, raw materials, and staffing costs. Read the full story [here](=). [image] IRS Agent's Threat to Taxpayer Under Judiciary Committee Probe [image]( The House Judiciary Committee is looking into an incident in which an IRS agent used a false identity to threaten a taxpayer in Ohio. The agent, posing as "Bill Haus" from the IRS Criminal Division, initially lied to the taxpayer about unpaid estate taxes. When the taxpayer proved that she had cleared all dues, the agent changed the reason for his visit to delinquent tax returns and asked for sensitive personal information. After behaving aggressively and insisting on his right to enter any home at any time, the agent threatened to freeze the taxpayer's assets and put a lien on her home if she failed to settle her alleged dues within a week. The incident was eventually resolved by the agent's supervisor. The committee has now requested the IRS for relevant documents to scrutinize its oversight processes. Read the full story [here](=). [image] California Bill's Shoplifting Provision Sparks Dispute [image](=) A proposed workplace safety legislation in California, aimed at preventing violence, has stirred up controversy due to a specific clause addressing how retail employees and employers should react to shoplifting incidents. The bill, put forward by Sen. Dave Cortese (D-San Jose), seeks to ban employers from requiring workers to confront active shoplifters. While the intention is to safeguard employees, critics like the California Retailers Association fear it may pave the way for a surge in thefts by undermining loss prevention roles. The bill, which also covers violence prevention plans and workplace injury investigation requirements, has passed the state senate and awaits a committee vote in the state assembly. Read the full story [here](=). [image] [image]() [image] EAGLE HAS LANDED We've booked a new speaker. A titan. A game-changer. Big reveal? July 1st. Mark it. [Book Your Seat](=) CEOs Defend Microsoft-Activision $69B Deal in FTC Lawsuit" [image]() Microsoft CEO, Satya Nadella, and Activision Blizzard CEO, Bobby Kotick, will testify in a California federal court this week to counter the Federal Trade Commission’s (FTC) attempt to block their $69 billion deal. The FTC claims that the merger could harm competition in the console and cloud gaming markets. Both CEOs, along with other key executives, are expected to argue for the deal, which would make Microsoft the third-largest global games market player. While it's uncertain when a decision will be reached, the hearing is expected to conclude on June 29. The deadline for closing the deal is July 18. Read the full story [here](). 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