The Chinese version of CRS (Common Reporting Standard for Automatic Exchange of Financial Account Information) has been implemented since July 1, and over a month has passed. Asset transparency is becoming an inevitable trend. High-net-worth individuals need to fully consider the impact of CRS when making decisions about overseas immigration and global asset allocation. Reasonable tax planning has become the primary need for the vast majority of high-net-worth individuals in China.
The first information exchange in China occurred in 2018, so prior to that, high-net-worth individuals' overseas assets would not be subject to high taxes. If one can make good use of this time to invest in the world-class "tax haven" of Dominica and apply for a Dominica passport, they can quickly adjust their asset structure under Dominica citizenship, thus better coping with the impacts of CRS.
How perfect is Dominica's tax system?
No capital gains tax;
No property tax;
No inheritance tax;
No gift tax;
No estate tax;
No overseas income tax, etc.;
And it is one of the few countries that do not impose global taxation.
Dominica is a globally renowned offshore financial center. Establishing an offshore company in Dominica not only saves tax costs but also offers unexpected advantages. Dominica has no foreign exchange controls, allowing for the free flow of various currencies between accounts from different countries!
It is particularly worth mentioning that Dominica is a Commonwealth country, and the rules for citizen information confidentiality are very strict. It will not easily disclose the information of foreign citizens who obtain Dominica citizenship through investment immigration to their home governments. With the gradual implementation of CRS in China, the Chinese government has signed AEOI agreements with over 100 countries and regions worldwide to implement automatic exchange of tax-related information. Holding a Dominica passport allows for an easy transition of tax residency status, transferring assets under Dominica citizenship, thus reasonably coping with the impacts of CRS while maximizing the security of asset information.
As one of the more affordable Commonwealth passport programs, Dominica's investment immigration requires a minimum investment of $100,000, allowing families of up to four generations to quickly apply for this cost-effective Dominica passport, which is a powerful tool against CRS. WorldWay Immigration Group, as one of the first immigration companies to promote the Dominica investment citizenship program in China, has maintained a good relationship with the Dominica government over the years.The Prime Minister of Dominica has visited senior executives of WorldWay multiple times and has provided preferential treatment for WorldWay clients, such as simplified application materials and expedited approval processes.
Choose WorldWay for Dominica investment immigration, making your immigration journey easier! For more details, please consult: 400-138-2929.