Attention High Earners: Scotland's New Tax Rates Could Affect You

Wrapping Up the Year: Essential Updates You Can't Miss Before 2024 Arrives December 28, 2023 [image] [Event]() | [Your Citizenship]( Welcome to the Weekly Rundown. Turbulent Times in the Empire State. In a startling shift, over 270,000 people have left New York in the past year, outpacing even the death rate. High taxes are the main culprit, driving residents to lower-tax states like Florida and Texas. This unprecedented migration is sounding alarms about the future of New York and other high-tax states, potentially reshaping the economic and political landscape. Scotland's Bold Tax Shift: Higher Rates for High Earners [image](=) Scotland introduces a new tax band targeting high earners, with individuals earning over £75,000 facing a 45% rate, escalating to 48% next year. This move, aimed at addressing a £1.5bn funding gap, positions Scotland as the UK's highest tax-paying region. The budget, focusing on equity and public service investment, has sparked debates about its impact on talent retention and the broader Scottish economy. Read the full story [here](=). [image] Empire State Exodus: A Tide Turning Against High Taxes [image]( In a remarkable trend, New York faces a mass departure, with more than 270,000 residents fleeing in just one year due to oppressive tax rates. This significant outflow, surpassing even the death rate, underscores a growing discontent with fiscal policies. As people move to states like Florida and Texas for financial relief, New York's future hangs in the balance, potentially altering its economic and political fabric. Read the full story [here](. [image] Greece's Golden Visa: A Magnet for Global Investors in 2023 [image]() Greece's Golden Visa program has surged in popularity, becoming 2023's top choice for investors seeking residence. With a record 7,752 applications by November's end, the program saw a 78% increase from 2022. However, only one in five applications were approved, with Chinese and Turkish nationals leading the beneficiary list. This influx has significantly impacted Greece's housing market, prompting the government to double the investment threshold in some areas. Amidst these changes, the program's future is being debated, highlighting its profound impact on the Greek society and economy. Read the full story [here](. [image] [image]() THE WORLD’S #1 EVENT FOR GLOBAL CITIZENS Learn what works in 2024 and beyond to legally reduce your taxes, build an international Plan B, and diversify and protect your wealth from high-caliber experts. [JOIN THE WAITLIST]() Malaysia's New MM2H Lure: Easier Path to Paradise [image]() Malaysia's recent overhaul of its Malaysia My Second Home (MM2H) program introduces more flexible options and potentially a path to permanent residence. The program now offers three tiers: Silver, Gold, and Platinum, each with varying fixed deposit requirements and benefits. Notably, the Platinum tier opens a door to permanent residence, a first for Malaysian investment programs. Despite mixed reactions from market stakeholders, the changes, particularly the removal of the minimum offshore income requirement and relaxed physical presence rules, are expected to make Malaysia a more attractive destination for global investors seeking residence in Southeast Asia. Read the full story [here](=). [image] Navigating Wealth Migration: Golden Visa vs. Golden Passport [image](=) In the evolving landscape of global migration, high-net-worth individuals are increasingly opting for investment-based migration routes. The two primary pathways, Golden Visa and Golden Passport, offer distinct benefits and cater to different needs. Golden Visas provide temporary residence without citizenship, ideal for those seeking to maintain their current nationality while enjoying residence rights in another country. On the other hand, Golden Passports offer immediate citizenship and passport privileges, bypassing the need for prior residence. These schemes, varying by country, allow significant investments in real estate, government bonds, or donations, reshaping the concept of citizenship and residence in today's interconnected world. Read the full story [here](=). [image] Dominica's CBI Program Overhaul: Stricter Rules and Hefty Fees [image](=) Dominica dramatically revises its Citizenship by Investment (CBI) program, increasing agent fees by 500% and introducing stringent new regulations, including a ban on name changes for five years post-approval. Meanwhile, Antigua and Barbuda refine their interview process for applicants, adding layers to the Caribbean CBI landscape. These changes, aimed at enhancing transparency and accountability, signal a significant shift in how Caribbean nations manage their lucrative CBI schemes. Read the full story [here](=). [image] [image]() WHAT IF YOUR WEALTH COULD STRETCH FURTHER WITHOUT STRETCHING YOU THIN? Is your country limiting your wealth's potential? See how Nomad Capitalist's global strategies can help grow your wealth and freedom [GROW YOUR WEALTH]( Russia and Iran are Abandoning the US Dollar in Trade [image]( Russia and Iran, both under U.S. sanctions, have taken a significant step by finalizing an agreement to conduct their trade using local currencies instead of the U.S. dollar. This move is part of a broader global trend among certain countries to reduce reliance on the dollar in international trade. Despite challenges and the dollar's continued dominance in global transactions, this decision marks a notable shift in the economic strategies of these nations, potentially influencing future international trade dynamics. Read the full story [here](. [image] UK's Festive Covid Surge: Nurses Urge Return to Masking [image](=) Amid a significant rise in Covid cases in the UK, driven by the JN.1 strain, NHS nurses are calling for the reinstatement of mask mandates. The Royal College of Nursing is pressing health officials to align with World Health Organisation guidelines and enforce mask-wearing, as hospitals face increasing pressure from not only Covid but also other winter viruses. This demand comes as the UK grapples with the pandemic's resurgence during the holiday season, highlighting ongoing challenges in managing public health. Read the full story [here](. [image] Germany on the Brink of Dual Citizenship Breakthrough [image]( Germany is poised to pass a landmark dual citizenship law in January 2024, a move that could significantly change the citizenship landscape for foreign nationals residing in the country. This law, potentially effective from April 2024, will allow eligible residents to retain their original citizenship while acquiring German nationality. The decision follows extensive deliberations and agreements within the coalition government, marking a progressive shift in Germany's approach to citizenship and integration. Read the full story [here](. [image] [image]() HIDDEN IN YOUR HERITAGE: A PASSPORT JUST FOR YOU Did your family tree leave you a global gateway? Discover it now. [CHECK YOUR ELIGIBILITY]() Stock Market's Stellar Surge: What's Next for 2024? [image]() After a remarkable rebound in 2023, the stock market, including major indexes like the S&P 500, Dow Jones, and Nasdaq, faces uncertainty in 2024. Factors contributing to this year's success include a potential "soft landing" for the economy and investor excitement over AI technologies. However, the upcoming year presents a mixed bag of predictions, with looming concerns over interest rate adjustments by the Fed and their impact on market stability. The focus now shifts to balancing economic growth and inflation control, with the tech sector, particularly AI, playing a significant role in shaping market dynamics. Read the full story [here](). [image] [image]() YOUR NEW YEAR'S RESOLUTION: DIVERSIFY YOUR PASSPORT PORTFOLIO Let us guide you in diversifying your passport portfolio, opening doors to new cultures, opportunities, and a future without borders. [ENTER 2024]( = 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