Could You Win or Lose with Biden's New Tax Plan?

Discover Biden's budget impact, El Salvador's Bitcoin success, and China's real estate directive—key insights for your offshore strategy March 14, 2024 [image] [Event]( | [Your Citizenship]( Welcome to the Weekly Rundown. For our investors who've had their eyes on the UK's 'non-dom' tax status, this week brings pivotal news. Chancellor Jeremy Hunt's move to scrap 'non-dom' status marks a significant turning point. If leveraging the 'non-dom' status has been part of your financial strategy, it's time to reassess. This change not only impacts how you might plan your taxes but also signals broader shifts in the UK's approach to international investment. Hungary's Golden Visa Scheme is Back [image]() Hungary has reignited its Golden Visa program, throwing open the doors to affluent individuals worldwide with an eye for investment and a desire for EU citizenship. After a hiatus since 2017, the scheme now offers a streamlined path for those looking to establish a foothold in the EU through substantial investments in Hungary. From purchasing property to supporting local projects, the opportunities are vast and varied, catering to entrepreneurs and investors seeking not just residency but a gateway to the European lifestyle. As the program opens up amidst debates on migration and investment ethics, it’s a critical moment for high-net-worth individuals aiming to diversify their passports and life opportunities. Read the full story [here](). [image] How the UK's 'Non-Dom' Tax Overhaul Affects You [image](=) Major changes are afoot with the UK's 'non-dom' status, and it's time to sit up and take notice. Chancellor Jeremy Hunt's announcement to limit this status to just four years is a direct call to action for anyone leveraging this financial avenue. This update could redefine your tax strategy and investment decisions in the UK. Get ready to adapt; this is one update you can't afford to overlook. Read the full story [here](. [image] What President Biden's Budget Means for Your Wallet [image]( President Biden's budget is on the table, and it's packed with proposals that could significantly impact your finances. From hiking the corporate tax rate to a pivotal 28% to introducing stringent global minimum tax rules, these changes aim to level the playing field. But there's more - the plan proposes to ramp up the stock buyback excise tax and impose a "Billionaire Minimum Income Tax," shifting the tax burden and potentially altering investment landscapes. If you're navigating the complexities of corporate gains or eyeing offshore profits, this proposal demands your attention. Read the full story [here](. [image] [image]() GUESS WHO'S COMING TO NOMAD CAPITALIST LIVE 2024? This is where legends like Tony Fernandes, Nigel Farage, Toomas Ilves, Cristina Cataman, Danielle DiMartino Booth and more converge. Their next big reveal? Only the curious will find out. This September, Kuala Lumpur becomes the epicenter of global strategy and innovation. Want in? [JOIN THE WAITLIST]() Visa-Free Travel Ends for Dominica and Vanuatu [image](=) In a significant policy shift, Ireland has announced visa requirements for nationals of Dominica and Vanuatu starting March 7th, 2024, affecting even airport transits. This move aligns with the UK's earlier restrictions, responding to concerns over citizenship by investment (CBI) programs. While not directly mentioning CBI as the reason, this decision reflects a broader trend of tightening immigration controls in response to security concerns. This development underscores the evolving nature of global travel and immigration policies, prompting travelers to stay informed and prepared. Read the full story [here](. [image] Dubai Real Estate Alert: Bigger Homes for Golden Visa [image]() With the recent changes to Dubai's Golden Visa criteria, the real estate market is witnessing a significant shift. Dropping the Dh1 million down payment requirement has sparked increased demand for properties priced at Dh2 million, prompting developers to offer larger homes to meet eligibility for the sought-after 10-year residency visa. This adjustment is attracting a broader spectrum of international investors, reshaping Dubai's property landscape with a clear move towards more spacious and luxurious living options. Read the full story [here](). [image] Seven Tax Havens Post-UK Non-Dom Closure [image]( The UK's recent phase-out of its "non-dom" tax regime is prompting a significant number of high-net-worth individuals (HNWIs) to scout for new tax-efficient havens. With an eye on preserving their wealth, these individuals are turning towards Western Europe, where several countries offer attractive tax schemes designed specifically for the affluent. From Greece's investment-based non-dom regime to Switzerland's forfait fiscal, and the welcoming shores of Monaco with its zero personal income tax, these seven destinations are emerging as top picks for those looking to enjoy similar benefits to those they once had in the UK. Read the full story [here](=). [image] [image]( THE SECRET TO KEEPING MORE OF YOUR MONEY Thinking there's a better way to manage your wealth, reduce taxes, and safeguard your future? You're right. With Nomad Capitalist you get access to the strategies that the top 1% use but rarely talk about. We're the insiders who know the ropes better than anyone else. [EXPLORE YOUR OPTIONS](=) Who's Cashing in on Bitcoin's Surge? [image](=) El Salvador is reaping substantial profits from its Bitcoin investments, boasting an $84 million gain as the cryptocurrency's value surged by 250% over the past year. This strategic move has elevated the nation's Bitcoin treasury to over $206 million, marking a 69% increase from its initial investment in 2,681 Bitcoins. Meanwhile, Hong Kong is making significant strides in the stablecoin arena, launching a regulatory sandbox for fiat-backed stablecoin issuers. This initiative is part of Hong Kong's broader plan to regulate cryptocurrencies closely tied to sovereign currencies, aiming to foster a safer and more innovative financial landscape. Read the full story [here](=). [image] Could Biden's 30% Crypto Mining Tax End the U.S. Bitcoin Boom? [image]() In a move that's rattled the cryptocurrency world, President Joe Biden's latest budget proposal introduces a series of crypto-related taxes, aiming to generate almost $10 billion next year. At the forefront is a contentious 30% tax on the electricity used for crypto mining, slated to phase in over three years. This proposed excise tax targets firms mining digital assets, potentially reshaping the U.S. as a burgeoning hub for Bitcoin mining. With the industry flourishing, particularly in states like Texas known for cheap power, this tax could have far-reaching effects, from stifling growth to driving operations offshore. Read the full story [here](=). [image] China's Ultimatum: Insolvent Real Estate Firms to Go Bankrupt [image](=) China's real estate crisis deepens as Housing Minister Ni Hong insists that developers facing serious insolvency must either declare bankruptcy or undergo restructuring, prioritizing legal and market norms. This tough stance comes amid defaults by giants like Evergrande and a slump in home sales, marking a significant shift away from potential bailouts. With real estate being a crucial part of China's economy, this move signals Beijing's firm commitment to curbing speculative practices and focusing on sustainable development, impacting both domestic and international markets. Read the full story [here](. [image] [image](=) NOMAD PASSPORT INDEX 2024 See where you rank in the global pecking order with the Nomad Passport Index 2024. Find out how your passport opens doors worldwide – are you leading or lagging? [YOUR PASSPORT RANKING](=) Is Now the Best Time to Invest in Greece's Golden Visa? [image]( Greece's Golden Visa program kicks off 2024 with a surge in applications, as whispers of an imminent price increase to as much as EUR 800,000 stir the investor community. Amid this rush, the Greek government's pending confirmation of new investment thresholds has potential investors on edge, eager to lock in their applications. This anticipation, coupled with a processing bottleneck in Athens, highlights the program's growing popularity and the strategic timing for investments. 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