IMI® reposted this
If you work in investment migration, you are a professional freedom fighter ✊ Here's why: Investment migration ("IM") is a mechanism for rewarding and punishing countries. IM helps individuals who are productive and well-behaved move their capital, skills, and families from countries that are - Autocratic/corrupt 💀 - Violent, unstable, or polluted 💣 - Limiting people's opportunities ⛔ - Disrespectful of property rights 🔫 to countries that have - Rule of Law 🏛 - Lower taxes 💸 - Individual liberties 🕊 - Higher quality of life 🏝 IM punishes bad countries by helping their best people get to better countries. (Yes, some countries are better than others.) IM pressures bad countries to get better or keep losing their most productive people to better countries. "But, Christian, IM only helps the rich." No. IM only DIRECTLY helps the rich. But it INDIRECTLY helps everyone else, too. When the rich leave and take their capital with them, government coffers suffer disproportionately. To prevent the rich from leaving (or entice them to return), the country needs to improve conditions for ALL citizens, rich and poor alike. This is the crucial - and moral - role the IM industry plays in shaping the course of history. IM stems the tide of totalitarianism and despotism and advances the cause of liberty worldwide. Because of the work you do, tyrants may not do as they please. As an IM professional, you are on the side of the good. You're on the right side of history. As an IM practitioner, whether you want to be or not, you are a professional freedom fighter. And don’t you forget it! IMI
The only rich people in "bad" countries are corrupt officials and their enablers who actually make the country "bad" on the first place. "Investment Migration" is a insurance policy for those crooks so they know their stolen loot is safely parked in a "good" country. "Bad" countries are being squeezed dry by crooks who pump stolen wealth into "good" countries. As a cherry on the cake, impoverished populations of looted "bad" countries storms borders of "good" countries in search of a better life. It is good old colonialism in all of its shiny glory. All profits privatized, all losses are socialized.
Interesting. How would you describe the exceedingly high negative migration from the UK? (none of the four factors you identified seems to fit in)
How is the US number calculated? Seems quite low if you consider all the 40-60 year Olds who are awarded the eb2 niw and eb1a green cards. Many of them are millionaires.
This is interesting considering that US and Canada have a higher tax bracket so it would be in favor of said millionaires to let's say move to a more territorial tax country such as Paraguay.
Interesting and provocative post. If this is accurate, the overall movement number is much larger in one year than I would have guessed. Is this typical for one year or is 2024 rather more than usual? UK outflow at #2 and UAE inflow at #1 both appear to directly contradict the hypothesis in the text?
There are more outflows than inflows. I take it the remaining moved and got poorer.
UAE and Singapore are autocratic/semi-autocratic countries.
In a way...but no. Plenty of money moves to autocratic/corrupt places with little rule of law, so long as their money is safe, because all the rich want is to avoid tax. They probably don't spend a meaningful part of the year there anyway, just enough to qualify as tax resident (if even that, in reality). Hence, UAE is the top gainer here. And before you tell me "no rule of law? Dubai is super safe!" etc, talk to anyone who's actually lived there. The stats may look good and day to day is ok, but cross the wrong person and you have no rule of law to fall back on, I promise you that.
Funny, I had always imagined it was all to do with tax rates ….
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3moWith all of the bad rhetoric about Canada being a disaster and the country falling apart, why does it have one of the highest net inflows of millionaires per capita? 🛩️➡️🇨🇦 Economic Opportunity Safety and Security Political Stability Climate and Nature Tax Planning Opportunities Canada is a fantastic place to do business, invest, and build a future, especially if you have children and are building a family. It is also one of the safest developed countries in the world and has a very strong and long tradition of political stability. Many people also complain that Canada is too cold, but not everybody wants to live in tropical weather 365 days a year. It feels great to get off a plane after being in the Caribbean for four months and feel 15° C weather again. And then taxes. Although I think taxes in Canada will get worse before they get better, and they are not low, wealthy families and investors have a lot of tax planning opportunities to bring their actual rate down to between 20 and 40%, depending on their sources of income. Some provinces have headline tax rates up to 60%, but very few high-net-worth individuals actually pay that kind of tax in Canada. Just my two cents. 😎🇨🇦🇦🇬