Starting from January 1, 2017, China officially entered the first year of CRS, gradually implementing procedures for the automatic exchange of financial account tax information with certain countries and regions. The era of global taxation under CRS is underway! The arrival of CRS has caused many high-net-worth individuals in China to worry about whether their overseas assets will be exposed.
Although the arrival of CRS will lead to the disclosure of overseas asset information for some high-net-worth individuals, there are still ways to cope with it calmly as long as one adjusts their asset structure reasonably.
The first information exchange in China will take place in 2018, so before that, high-net-worth individuals' overseas assets will not be subject to high taxes. If one can make good use of this time, choosing passport immigration, such as investing in Dominica, applying for a Dominica passport, and quickly adjusting their asset structure using Dominica citizenship, they can cope with the impacts of CRS more calmly.
Firstly, Dominica is a world-class tax haven that offers favorable tax policies to investors, exempting them from capital gains tax, inheritance tax, and gift tax. Moreover, Dominica is one of the few countries that do not impose global taxation, which can help investors in global asset allocation while also allowing for more reasonable tax planning.
Secondly, Dominica is one of the world's renowned offshore financial centers. With a Dominica passport, one can open overseas accounts as a Dominica citizen and transfer assets to overseas accounts. This not only allows for reasonable avoidance of CRS but also enables one to choose from a wider range of investment tools in larger overseas markets, facilitating broader asset allocation and making it easier to transfer assets and invest overseas.
How to apply for a Dominica passport? There are two ways to do so:
1. Invest (donate) at least $100,000 to the Dominica government fund;
2. Real estate investment for citizenship: Invest in government-approved real estate projects of no less than $200,000.
For more immigration details, please call the hotline of WorldWay Immigration Group: 400—9626—886.