KeatsConnelly Cross-Border Weekly Best of the Web 2016-8-5

web-search-greyEvery week we share news stories, blog articles and other interesting stuff from around the web that received the most views, shares, comments and overall interest on various KeatsConnelly social media outlets.

This week we highlight two articles. The first piece looks at a plan to by British Columbia to implement a new foreign investor tax on residential real estate, and the second article looks at countries offering financial programs toward obtaining citizenship.

Industry critical of new B.C. tax on foreigners buying homes (www.biv.com) – Industry reaction to the B.C. government’s plan to tax foreign investors an extra 15% when buying residential real estate in Metro Vancouver has been swift and critical. The government announced July 25 that foreigners who buy B.C. homes will have to pay the new tax, starting August 2. “Housing affordability concerns all of us who live in the region,” said Real Estate of Board of Greater Vancouver President Dan Morrison. “Implementing a new real estate tax, however, with just eight days’ notice and no consultation with the professionals who serve home buyers and sellers every day needlessly injects uncertainty into the market…

Countries where you can buy citizenship (www.weforum.org) – A new global industry has been booming in recent years, as countries offer people the chance to acquire citizenship or residency. Economic programmes are allowing foreigners to legitimately purchase citizenship or a residency permit – in return for a substantial investment. The International Monetary Fund has highlighted the rapid growth of this trend, suggesting that in the current geopolitical climate people are looking for “political and economic safe havens”. There are also estate and tax planning considerations, the IMF adds…

Come back next week for more interesting news and articles. Enjoy your weekend!

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