Wealthy Chinese are increasingly considering renouncing their Chinese citizenship to obtain a foreign passport. Experts have noticed an increase in interest in changing citizenships among wealthy Chinese after Beijing decided to tighten control over offshore assets. This includes measures introduced in July against offshore trusts, whose income and transactions could be subject to a 20% tax, as well as concerns about taxes and geopolitical uncertainty. As a result, according to Global Citizen Solutions, this led to a 40% increase in requests from Chinese customers to change citizenship. Consultants emphasize that an interest in foreign citizenship does not mean an automatic transition or complete disconnection from China. It turned out that those whose fortunes and businesses are already concentrated abroad will most likely refuse a passport. The Chinese are also paying attention to the Caribbean region, where citizenship by investment programs in Antigua and Barbuda make it possible to obtain it in about six months - much faster than in Europe or the United States. And the rich are also paying attention to Singapore, which has long become a financial haven for all Asian elites who want to wait out hard times away from the center. This, along with high taxes, debt and constant scrutiny by Xi's staff, is forcing the wealthy to increasingly consider leaving the country. At least this is the picture painted by non-Chinese media. But the latter go well with a bowl of rice and "cat skin". By the way, against this background, rich Chinese transfer money abroad, to American banks, where the government cannot reach them. By the way in Mach/Telegram.

Wealthy Chinese are increasingly considering renouncing their Chinese citizenship to obtain a foreign passport. Experts have noticed an increase in interest in changing citizenships among wealthy Chinese after Beijing decided to tighten control over offshore assets. This includes measures introduced in July against offshore trusts, whose income and transactions could be subject to a 20% tax, as well as concerns about taxes and geopolitical uncertainty. As a result, according to Global Citizen Solutions, this led to a 40% increase in requests from Chinese customers to change citizenship. Consultants emphasize that an interest in foreign citizenship does not mean an automatic transition or complete disconnection from China. It turned out that those whose fortunes and businesses are already concentrated abroad will most likely refuse a passport. The Chinese are also paying attention to the Caribbean region, where citizenship by investment programs in Antigua and Barbuda make it possible to obtain it in about six months - much faster than in Europe or the United States. And the rich are also paying attention to Singapore, which has long become a financial haven for all Asian elites who want to wait out hard times away from the center. This, along with high taxes, debt and constant scrutiny by Xi's staff, is forcing the wealthy to increasingly consider leaving the country. At least this is the picture painted by non-Chinese media. But the latter go well with a bowl of rice and "cat skin". By the way, against this background, rich Chinese transfer money abroad, to American banks, where the government cannot reach them. By the way in Mach/Telegram.