The Common Reporting Standard and Mandatory Disclosure Rules Manila ǀ Kuala Lumpur ǀ Singapore September 2018

Transcription

1 The Common Reporting Standard and Mandatory Disclosure Rules Manila ǀ Kuala Lumpur ǀ Singapore September 2018

2 Agenda Introduction Moldova and Montenegro citizenship by investment programs How Vistra helps clients to maximize what is possible in international business Overview and update on the CRS CRS reporting of offshore bank accounts, companies, insurance policies, and trusts CRS avoidance and new Mandatory Disclosure Rules US FATCA update Offshore company beneficial ownership registers update 2

3 Introduction

4 Focus Residence and citizenship planning Program development for countries Clients Wealthy individuals and families Governments worldwide Reach Over 300 staff Track Record 20 years leading the industry Global Presence

5 The Leading Investment Migration Programs Henley & Partners assists individuals and their families to obtain citizenship and/or residence of the following countries: St. Lucia

6 Moldova and Montenegro Citizenship by Investment programs

7 Location Map

8 Moldova Citizenship-by-Investment Program

9 Moldova Introduction Population: 4 million In addition to its strong agricultural and foodprocessing industries, Moldova is one of the world s main wine exporters Moldova has entered into an association agreement with the EU and is aiming to become a candidate country for EU Membership Citizens enjoy visa-free travel to 121 countries, including Russia, Turkey, and the countries in Europe s Schengen Area Moldova has spearheaded some of the most impressive advancements in the tech world 9

10 Moldova Citizenship-by-Investment Program To be launched in Q Full citizenship with passport is granted to the applicant and family Citizenship in a European country with an open culture, a continental climate and a charming landscape A reasonable contribution amount and a highly efficient application process High level of due diligence; only highly reputable applicants admitted Citizenship is granted to reputable applicants who pass due diligence and make a significant economic and social contribution to the country The program has been designed by Henley & Partners and is managed together with the Government of Moldova 10

11 Main Requirements Non-refundable contribution to the Public Investment Fund EUR 100,000 for a single applicant EUR 115,000 for a couple EUR 145,000 for a family of four EUR 155,000 for a family of five or more Government service provider and licensed agent fees amount to EUR 35,000 per application.

12 Moldova vs Montenegro CBI Programs Moldova: Henley & Partners was recently awarded the mandate to design and implement the Moldova program which is expected to officially launch in November 2018 but we will start accepting applications from August 2018 Montenegro: Henley & Partners is an approved marketing agent for the Montenegro program which is due to be officially launched in Q / Q Program Comparison Moldova Montenegro Population / Area 4 million / 33,846 km² 650,000 / 13,812 km² Government processing time 3 to 4 months To be determined Passport ranking 44 th best worldwide 42 nd best worldwide Visa-free access to 121 countries 123 countries Key visa-free travel destinations Minimum contribution/investment European Schengen Area, Russia, Turkey EUR 100,000¹ (non-refundable contribution) ¹ These fees represent the minimum investment/contribution for a single applicant. Applicants would still incur additional property transaction costs and/or misc. government fees, due diligence fees and processing fees Henley & Partners Residence and Citizenship Insight Session 2018 European Schengen Area, UAE, Singapore EUR 250,000¹ / EUR 450,000¹ (investment) Must hold period for assets N/A To be determined

13 Comparison of European CBI Programs Program Comparison Cyprus/Malta Caribbean Moldova Montenegro Government processing time 6 to 12 months 4 to 6 months 3 to 4 months To be determined Visa-free access to 171 to 182 countries 130 to 150 countries 121 countries 123 countries Key visa-free travel destinations EU Member (Settlement freedom throughout EU) Australia, Canada, Schengen, UK, US, Singapore, Hong Kong China, Schengen, UK, Singapore, Hong Kong Schengen, Russia, Turkey Schengen, UAE, Singapore Yes No No No Minimum investment/ contribution EUR 1 million EUR 2 million¹ USD 100,000 USD 200,000¹ EUR 100,000¹ EUR 250,000¹ or EUR 450,000¹ ¹ These fees represent the minimum contribution for a single applicant and applicants would still incur additional property transaction costs and/or misc. government fees, due diligence fees and processing fees Henley & Partners Residence and Citizenship Insight Session 2018

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