🔥 Heatwave Citizenship

July 27, 2023 [image] [Event]() | [Become our Client]() Welcome to the Weekly Rundown. Our global spotlight shines on Portugal this week. Imagine a game of Monopoly where the rules have changed: no more buying houses for residency permits, no €1.5 million bank transfers allowed. Yet, the board is not out of play. The dice still roll for job creators and cultural donors. This is Portugal’s new strategy for its Golden Visa Program - a bold move amidst an ongoing housing crunch. Despite these rule changes and criticism from regional leaders, the game continues with a 27.5% YoY increase in investments. EU Citizenship Through Marriage: A Speedy Route with Diverse Timelines [image]( The journey to becoming an EU citizen through marriage varies across the bloc. Although the process generally requires a non-EU spouse to live legally in the EU country for a specific duration, the timeline fluctuates by nation. For those seeking a swift path, Spain leads the way, granting citizenship to non-EU nationals married to Spaniards in just one year. Others, including France, Germany, and Sweden, require a three-year residence, while Belgium and Malta necessitate five years. Contrarily, in countries like Finland, marriage doesn't guarantee a path to citizenship. These diverse timelines reflect the individual citizenship and immigration laws of each EU member state. Read the full story [here](. [image] Golden Visa Shake-Up in Portugal [image]() Portugal is reshaping its Golden Visa Program by ending residence permits for housing investments and specific bank transfers. These changes, part of a larger housing initiative, face opposition and await presidential approval. Despite the alterations, other visa routes persist, and the program's popularity continues with investments rising 27.5% YoY. Read the full story [here](). [image] Schengen Visa-Free Privileges for Caribbean Set to End [image]( According to Ralph Gonsalves, the Prime Minister of Saint Vincent and the Grenadines, the European Commission has informed Caribbean prime ministers that Schengen visa-free travel for Caribbean Citizenship by Investment (CBI) jurisdictions will soon be revoked. The Prime Minister stated that this was not a matter of "if", but "when", implying that the decision was imminent. Additionally, Gonsalves suggested that the UK was expected to withdraw visa-free travel to other Caribbean CBI countries before the end of the year. The move follows the recent loss of visa-free access to the UK by Dominica and Vanuatu, with the latter expressing profound dissatisfaction at the decision. Read the full story [here](=). [image] [image]() RECLAIM YOUR HERITAGE Our CBD service provides a white glove experience to help your family claim top-tier second citizenship faster and with less hustle than anywhere else. [CLAIM YOUR BIRTHRIGHT]() Spain Eliminates Six-Month Residency Rule [image]( Spain's Supreme Court has overturned a clause in the country's immigration regulations that enabled authorities to withdraw temporary residence permits from individuals who spend six months or more outside Spain within a one-year period. The court stated that the rule infringes on the fundamental right to free movement for foreign citizens with temporary residence in Spain. Now, residents can leave Spain for more than six months within a year without worrying about losing their permit upon their return. Read the full story [here](. [image] Heatwave-Driven Wildfires Engulf Sicily, Force Evacuations [image]( Sicily is battling severe wildfires due to a heatwave, causing evacuations and threatening a notable archaeological site. The fires, driven by strong winds and scorching temperatures reaching up to 47.6 C, have led to the deaths of three people and widespread public transport disruptions, including temporary closure of Palermo Airport. Fires are also ravaging the archaeological park of Segesta, home to important ancient structures. There are concerns that the wildfires will lead to economic losses from cancelled tourist visits. Read the full story [here](=). [image] UAE Free Zone Manufacturing Granted 0% Corporate Tax; Details to Watch [image]() The UAE Ministry of Finance has launched a digital consultation to discuss corporate tax frameworks for free zone companies, specifically focusing on manufacturing activities. The current proposal permits a 0% tax rate on profits from manufacturing in free zones. However, if a company manufactures its own products, the total profit must be divided into manufacturing and sales profit, with the latter eligible for a 0% tax rate only if it meets the conditions of qualifying distribution activity. This policy change is significant, but it also introduces challenges that manufacturers should be aware of, including potentially complex profit splitting and the need to benchmark to avoid excess profit attribution towards manufacturing activity. Read the full story [here](=). [image] [image]( NOMAD REAL ESTATE YIELD INDEX A roadmap – for 103 countries. The Index offers a full-on analysis. A practical way to gauge real estate value – anywhere in the world. [DOUBLE THE PROFITS]() Dubai Tops Global Luxury Home Value Increases in H1-2023 [image]() Dubai's luxury residential space saw an 11.2% increase during the first half of 2023, outperforming global peers and placing the city at the top of the prime residential demand index, according to real estate consultancy Savills. Despite a slowdown in Western luxury property deals, Dubai finalized 1,500 residential property deals valued over Dh4,000 per square foot, a 67% increase from the same period in 2022. The city's growth in luxury home value can be attributed to its growing population, healthy economy with new business opportunities, and high potential for property value gains and rental yields. The second half of 2023 is forecasted to continue this growth with expected gains of 6-7%. Read the full story [here](). [image] Global Unhappiness Peaks in 2022 [image]() According to Gallup's Global Emotions report, worldwide unhappiness in 2022 matched the all-time high set in 2021. Afghanistan had the least positive experiences, with 98% of respondents describing their life as suffering. In Sierra Leone, 77% reported experiencing physical pain the previous day, a record high for any country. Meanwhile, the most positive countries were found in Latin America and Southeast Asia. The overall world's negative experiences index score has steadily increased since 2006, while positive emotions have remained relatively stable. Read the full story [here](). [image] The Pros and Cons of Being a Digital Nomad [image]() According to a survey conducted by housing platform Flatio, digital nomads face both benefits and challenges in their lifestyle. The majority of digital nomads surveyed are from the US, the UK, and Germany, and choose their locations based on cost, sunshine, safety, WiFi quality, and healthcare services. The most popular destinations are Portugal, Thailand, Spain, and Argentina. Over a third of digital nomads are freelancers, with IT, media, advertising, PR, and marketing as the most common sectors. The majority pay taxes in their home countries. The main challenges include finding accommodation and making friends, while tax issues also rank high. Opinions on digital nomad visas are split, with about 60% finding them beneficial. Read the full story [here](). [image] [image]() [image] At Nomad Capitalist Live, you meet people. People who resonate with your journey. Attend the event once, twice, or thrice? You'll meet new groups each time. And each meeting? A chance for growth. [I WANT IN]() Farage Seeks NatWest Reforms After CEO Resigns [image]() Nigel Farage, the former Ukip leader, is demanding broader changes to the NatWest board following the resignation of Dame Alison Rose, the bank's CEO, amid criticism over her handling of Farage's relationship with Coutts, a private bank owned by NatWest. Farage called for a "cultural change" in the bank and the broader industry, arguing that political bias had affected decisions such as account closures. The controversy emerged after Farage provided evidence that his Coutts account was closed partly due to his political views, which contradicted initial reports that suggested commercial reasons. Paul Thwaite, current CEO of the company’s commercial and institutional business, will temporarily replace Dame Alison. Read the full story [here](). [image] [image]() Create and Implement Your Own Bespoke Global Citizenship Plan [GET YOUR PLAN]() = Feel free to check out our [SERVICES]( [ARTICLES]( [PODCAST]( [Manage Preferences]( | [Unsubscribe]( Nomad Capitalist LLC Kidnah, Block A Plot 4 Fujairah, Al Fujayrah United Arab Emirates (the) +1 (979) 966-6623