Just as everyone is celebrating the arrival of New Year's Day 2017, China officially implemented the CRS global taxation era as scheduled, prompting many high-net-worth individuals to become restless. This is because China has implemented CRS tax information exchange, which means that the asset information of many high-net-worth individuals will be exposed. So how can this problem be solved?
First, it is important to know that the group subject to CRS information exchange and future taxation in China consists of Chinese citizens or Chinese tax residents. Therefore, if your overseas assets are not under the identity of a Chinese citizen or other countries participating in the CRS tax information exchange, you can naturally avoid the exchange of tax information. As a result, the relatively inexpensive Commonwealth fast passport program — Dominica Passport Program has become highly sought after by high-net-worth individuals.
The Dominica fast passport program has the following major advantages:
1. Obtain a passport in one step, allowing global travel: The passport allows visa-free access to over 120 countries, including Schengen countries, EU countries, the United Kingdom, Singapore, and South Korea;
2. A relatively inexpensive Commonwealth passport program: Investors only need to invest from $100,000 to apply for a Commonwealth passport in one step;
3. Relaxed conditions with no residency requirements: The application conditions are simple, with no language or educational requirements, no need to visit Dominica, and no proof of source of funds required;
4. Short processing time, directly obtaining a passport: Approval can be obtained in 2-3 months;
5. Beautiful environment, suitable for building a second home in the Caribbean;
6. Low investment risk, approval before investment.
7. Offshore finance, tax haven: Dominica has a superior tax system with no capital gains tax, gift tax, inheritance tax, etc. It is also one of the few countries that do not impose global taxation. Furthermore, Dominica imposes a "0" tax on its citizens' overseas assets, meaning that its citizens do not need to pay taxes to the Dominica government on every penny earned overseas! Additionally, holding a Dominica passport allows for easy establishment of offshore accounts and offshore companies, which not only can be tax-free but also keeps shareholder information confidential, making overseas asset protection plans more flexible.
Dominica Investment Citizenship has the following two methods:
1. Invest (donate) at least $100,000 to the Dominica government fund;
2. Invest in real estate for citizenship: Invest in government-approved real estate projects of no less than $200,000.
As one of the earliest immigration companies promoting the Dominica citizenship program in China, Worldway Immigration Group has established a good relationship with the Government of Dominica. Prime Minister Roosevelt Skerrit has visited China twice to promote the Dominica passport program, visiting Worldway Immigration Group's offices in Hong Kong and Shanghai on both occasions. Dominica's Ambassador and Permanent Representative to the United Nations, Vince Henderson, visited Worldway Immigration Group's office in Shenzhen. Dominica's officials have highly recognized Worldway's achievements in the field of investment immigration and awarded Worldway the "Valuable Partner of the Dominica Citizenship by Investment Program" certificate.
For more immigration inquiries, please call: 400—9626—886.