Taxlinked interview with Laszlo Kiss, Managing Director of Discus Holdings
Published at: 20/06/2019 12:10 pm
Taxlinked.net interviewed László Kiss, the Managing director of Discus Holding Ltd about the benefits of citizenship by investment programmes for HNWIs.
László Kiss explained the main benefits of the programmes and gave a short inside look at the latest trends in the fast developing industry.
According to him, High Net Worth Individuals obtain citizenships and passports through investment to reach the freedom of travel and the freedom of business, to guarantee a secure future for their children. The proof of the exponentially growing market is that 5000 Indian millionaires participated in the legal immigration different schemes.
About the new Montenegro Citizenship by Investment Programme, the Managing Director of Discus Holdings shared the most crucial information as Discus Holdings Ltd is one of the only three official agents of the new European programme. Montenegro intends to join the European Union soon, the successful applicants for citizenship can become EU passport holders in a couple of years.
Another hot topic is the EU blacklist of the non-cooperative tax jurisdictions because some of these nations are attracting foreign investors with immigration schemes. László Kiss explained the introduction of the always more complex due diligence and tax compliance regulations, which must provide the most sustainable solutions for HNWI clients. He mentioned the more than 70 nations with citizenship or residency programmes aiming the high-skilled and wealthy applicants. According to the firm's data analysis, there are more than 5400 available combined immigration, company formation and bank account opening solutions on the market based on the 14 primary indicators. That's why the consultancy cannot focus anymore on one or only a few jurisdictions.
About the question of greater transparency, the Managing Director cleared the new and standard rules of the modern due diligence processes. The OECD, the EU, and the United States need transparent applicants, who may qualify for the different citizenship by investment programmes.
Read the whole interview on Taxlinked.net.