Malta and Cyprus “Golden Visa” Schemes Pose High Risk!

Three European countries (Cyprus, Malta and Monaco) are amongst the twenty-one countries whose residence and citizenship by investment schemes potentially pose a high-risk says OECD.

THE OECD (Organization for Economic Co-operation and Development) has published a ‘black list’ of 21 countries, which includes Cyprus, whose residency and/or citizenship by investment schemes potentially pose a high-risk to international efforts to combat tax evasion.

The OECD analyzed over 100 Residence/Citizenship by investment schemes and identified a number of them that potentially pose a high-risk; i.e. those that give access to a low personal tax rate on income from foreign financial assets and do not require an individual to spend a significant amount of time in the jurisdiction offering the scheme.

In the analysis, countries were ranked according to their risk levels.
These are:

1. Antigua and Barbuda
2. The Bahamas
3. Bahrain
4. Barbados
5. Colombia
6. Cyprus
7. Dominica
8. Grenada
9. Malaysia
10. Malta
11. Mauritius
12. Monaco
13. Montserrat
14. Panama
15. Qatar
16. Saint Kitts and Nevis
17. Saint Lucia
18. Seychelles
19. Turks and Caicos Islands
20. United Arab Emirates
21. Vanuatu

 

 

 

Source: OECD, Cyprus Property News