✈️ From Dream to Departure

July 6, 2023 [image] [Event](=)| [Become our Client]() Welcome to the Weekly Rundown. French President Emmanuel Macron stirred controversy by suggesting a temporary suspension of social media during periods of unrest to combat violence, with critics likening the proposal to authoritarian tactics. These comments were made following violent reactions on social media to the police shooting of a teenager. While the government seeks modifications to the cybersecurity law, accusations of systemic racism and identity debates have heightened amidst the ongoing unrest. Summer Vacation Stuck in Red Tape: The Passport Pandemonium of 2023 [image]( As global travel bounces back, a backlog of U.S passport applications hits a governmental logjam. Too few personnel and a barrage of pandemic-related disruptions are turning travelers' dreams into nightmares. Stories of frustrating waits, costly uncertainty, and last-ditch efforts to secure passports are taking over social media. Despite increasing complaints, government officials are yet to provide a definitive resolution, blaming COVID-induced staffing shortages and system upgrades. So, if you're hoping to travel abroad in 2023, brace yourself for a whirlwind journey of passport pandemonium. Read the full story [here](. [image] Macron's Social Media Blackout Idea Sparks Outrage [image]() Macron, France's head president, hinted at a temporary social media shutdown to quell unrest - and got major blowback! Detractors are saying, "Hold up, this smells like authoritarianism." Not just that, they're claiming it’s a smokescreen to avoid the real issue: police violence. But Macron and his team are like, "No, no total blackout - just a debate." All this came after social media got the blame for fueling riots following a tragic police shooting. Amid the mayhem, accusations of deep-seated racism in French security forces resurfaced. Let's not forget, an officer is even under arrest, charged with voluntary manslaughter. On top of all this, a man died in Marseille riots, believed to be from a riot-control "flash-ball." Read the full story [here](). [image] Arizona Puts the Brakes on New Homes [image]( Imagine this: no more new homes 'cause there's not enough water. Well, that's the situation in Maricopa County, Arizona. The state's going all in, stopping new building permits for homes using well water. Why? Massive drought and depleting water supplies. Daily usage in the county alone is 2.2 billion gallons. Future predictions? Bleak. In the next century, Phoenix alone could need 1.5 trillion gallons more than available. The growth-happy state capital, Phoenix, is partly to blame. But Governor Katie Hobbs says, "We're on it." She's confident they've got the water issue under control. Let's see if that holds water. 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]() Your Kid's Inheritance Takes a Hit - IRS Alters the Game for Trusts [image]( The IRS just threw a curveball with Revenue Ruling 2023-2. See, people have been using irrevocable trusts to shield their assets and qualify for benefits like Medicaid. Now, the IRS says property in these trusts won't get a 'step-up in basis' anymore. It's a big deal. Normally, when you inherit property, you get it valued at today's rate, not the original purchase price. That means you dodge any capital gains tax if you sell it. But now, if the trust isn't set up just right, your kids could be hit with these taxes. It's a balancing act – protecting your assets, dodging capital gains and estate taxes, while ensuring the inheritance is tax-free. Get a savvy attorney, talk to your tax pro, and strategize right. Even with IRS' new move, you can still win the game. Read the full story [here](). [image] New Zealanders, Pack Your Bags - Australia's Citizenship Doors are Open [image]( As of July 1, if you've been living the dream in Australia for at least four years, you can skip the permanent residency rigmarole and apply straight for Aussie citizenship. No more messing about. This new policy is a real game-changer for people like Kuldeep Singh Randhawa, who has been down under for the last 15 years. And it's about time, as NZ has had a similar citizenship pathway for Aussies for years. Before this, Kiwis could live and work in Australia, but they were cut off from voting and certain benefits. This new rule levels the playing field, and the NZ Australia Punjabi Cultural Association is chuffed to bits about it. With 350,000 NZ citizens residing in Australia, this shift could be a big deal. It's another cracking example of that Aussie-NZ camaraderie. Read the full story [here](. [image] How to Avoid The Investment Income Tax [image]() More of you are coughing up for the net investment income tax now than a decade ago, all because of the lack of yearly inflation adjustments. Here's how it works: if you're single and your Modified Adjusted Gross Income (MAGI) is over $200,000, or you're married and filing together with a MAGI exceeding $250,000, you could be hit with an extra 3.8% tax on capital gains, interest, dividends, rents, and more. But, there's a silver lining. Financial gurus say there are nifty strategies to shrink your tax bill, such as investing in municipal bonds, planning asset location smartly, and spreading out Roth IRA conversions over several years. So, don't let Uncle Sam dip too deep into your pockets. A little savvy planning can keep more of your hard-earned cash where it belongs - with you. 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]() Messi Scores Big Time in Miami - But It's Not Just About the Game [image]() Ready for some football news with a twist? Soccer giant Lionel Messi is making headlines by turning down a hefty $500 million offer for a smarter financial play with Inter Miami. Florida, with no state income tax and lenient laws around intellectual property, is a fiscal paradise, perfect for protecting Messi's hefty endorsement earnings. Though a past tax fraud conviction might complicate U.S. immigration, Messi's already making a splash in the Sunshine State. This is Messi mastering a whole new money game. Read the full story [here](. [image] The Great American Shuffle: Ditching the Old, Embracing the New [image]() More and more people are packing their bags, saying goodbye to crowded cities and high-priced living, and setting their GPS for sunnier skies and cost-friendly neighborhoods. Big losers in this game of musical states are traditionally popular spots like California, New York, and Illinois, which are witnessing a mass farewell due to rising costs of living, among other things. On the flip side, states like Texas, Florida, and South Carolina are rolling out the welcome mat to a huge influx of new residents. And why not? These states offer a fantastic combo of low taxes, warm weather, and ample job opportunities. The big shift, partly ignited by remote work possibilities and the desire for a more relaxed lifestyle, has turned into a full-on migration marathon. Read the full story [here](=). [image] Breaking the Canadian Dream: Why Skilled Immigrants Are Leaving [image]() Discover the shocking truth behind Canada's struggle to retain highly skilled immigrants. In this revealing article, we follow the journey of Sanjay Gupta Sagar, a Nepalese immigrant with a PhD and big dreams, as he faces a harsh reality in his pursuit of professional success. With limited job opportunities, the dreaded "Canadian experience" barrier, and the burden of high living costs, it's no wonder many newcomers are giving up on their Canadian dream. Uncover the reasons why skilled immigrants are choosing greener pastures and what this means for Canada's population growth plans. Don't miss this eye-opening exploration of the challenges faced by those who dared to hope for a better future. Read the full story [here](=). [image] [image]() [image] The Eagle Has Landed Meet "the Adventure Capitalist" at Nomad Capitalist Live, the world's best gathering of global citizens. [Book Your Seat]() The Great Australian State Shuffle and Where People Are Heading [image]( AN astonishing migration pattern within Australia as thousands of Aussies flee one state in search of new beginnings elsewhere. The latest data from the Australian Bureau of Statistics reveals a staggering exodus of over 30,000 people from a particular state in the past year. Uncover the truth behind this migration trend and learn where most of these individuals are flocking to. From Victoria to Queensland, the Northern Territory to the ACT, find out which states are losing population and which are gaining. Don't miss this revealing report on the state Aussies are leaving and the exciting destinations they're calling home. Read the full story [here](. 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