What is going on right now with IIP
Who likes to pay tax right? Employers (owners – boss, call them what you like) try to avoid it at all costs. Now, its not always possible obvioulsy so some small countires like Malta and Cyprus are taking advantage of this situation
How it works?
Because of double taxation agreements, a business man, or employee is obliged by law to pay tax at his country of recidency. Countries like the US and UK have very high tax rates and here’s where the Individual investor program comes into play.
These people buy citizenship in other contries so they can pay tax at that particular country. At one condition. They have to pay a large sum of money to buy the “passport” – citizenship
For example in Malta, one must invest in government bonds and also purchase at least one property. More on this next time