Visa Pains: Creating A US Taxable Estate By Accident
by Jay C. Judas, Managing Director of Crown Global
The US, along with many other jurisdictions, has a visa programme aimed at attracting high net worth individuals, although these schemes are sometimes changed or suspended because of political or other considerations. The US programme is discussed here by Jay Judas, managing director and partner for Crown Global Insurance Group, a provider of investment-enhancement strategies and products for institutional investors, investment managers and ultra-high net worth individuals. The views expressed are those of the author and not necessarily endorsed by the editors of this publication, but we are delighted to share such insights. We are publishing this item here as it has global relevance.
In 2015, the US issued 9,764 EB-5 visas, with just over 83 per cent of the recipients being born in mainland China. Consistently, mainland Chinese have made up the majority of applicants and recipients for this popular visa programme. The next largest jurisdiction was Vietnam, with recipients receiving just 2.9 per cent of the visas.
Read Full Article