OECD Issues Consultation Document on Preventing Abuse of Residence by Investment Schemes to Circumvent the CRS

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Friday, March 2, 2018

Author:

Bruce Zagaris

Volume:

34

Issue:

3

Abstract:

On February 19, 2018, the OECD issued a consultation document on preventing the abuse of residence by investment schemes to circumvent the CRS. The OECD is looking into the use of “residence by investment” (RBI) or “citizenship by investment” (CBI) schemes that allow individuals to obtain citizenship or temporary or permanent residence rights in exchange for local investments or against a flat fee.