On February 10, 2019

OECD Names 21 High Risk Golden Passport Schemes

The OECD has named 21 jurisdictions offering ‘golden passport or visa schemes’ that it regards as potentially high-risk, in that they give wealthy individuals access to low income tax on their global assets but do not require them to spend much time in the jurisdiction.

It says such citizenship- or residence-by-investment schemes can be abused to misrepresent an individual’s tax residence, thus endangering tax enforcement by the automatic exchange of information.

The listed jurisdictions are: Antigua and Barbuda; Bahamas; Bahrain; Barbados; Colombia; Cyprus; Dominica; Grenada; Malaysia; Malta; Mauritius; Monaco; Montserrat; Panama; Qatar; Seychelles; St Kitts and Nevis; St Lucia; Turks and Caicos Islands; United Arab Emirates; and Vanuatu.

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