Good morning, global opportunists! 

恭喜发财! Happy Chinese New Year! The year of the dragon is upon us. Welcome to the 8th article from The Sovereign Atlas! Every Friday we publish quick updates that benefit your global sovereignty lifestyle. 

Here’s what we’ve got this week:

• Argentina Embracing Crypto 🇦🇷

• Japan Launching a Digital Nomad Visa 🇯🇵

• Wealthy Chinese Continue Buying Passports 🇨🇳

• Latvia Gaining Popularity 🇱🇻

Let’s go!

UPDATE

Argentina is Embracing Crypto

In a move that's stirring both excitement and debate, Argentina's government, under the crypto-enthusiast President Javier Milei, has tabled a trailblazing bill aimed at reshaping the nation's cryptocurrency tax landscape.

Tax-Free Crypto Holdings: The Milei administration proposes to eliminate taxes on the ownership of cryptocurrencies, shifting away from the previous regime where holdings under $100,000 enjoyed a 0% tax rate, and anything above was taxed at 15%.

Selective Taxation on Profits: The spotlight turns to capital gains from cryptocurrency sales, which remain taxable. However, there's a silver lining with a minimum threshold exempting smaller gains from the tax net, aiming to nurture the crypto economy.

A Strategic Move: Despite the elimination of tax on ownership, cross-border crypto transactions will still incur a 5 to 15% tax, a strategy to attract foreign digital assets.

UPDATE

Japan’s Digital Nomad Visa

Japan is rolling out the red carpet for digital nomads with a new visa launching next month, aimed at boosting the country's economy and embracing global talent.

Who's In? The digital nomad visa, open to highly skilled professionals, especially from the IT sector, welcomes applicants from countries with a tax treaty with Japan. This includes all EU countries, several non-EU European nations, and select countries from other continents, like the US and Australia.

Visa Perks and Prerequisites: To qualify, nomads must show an annual income of at least 10 million Japanese Yen and secure private health insurance. The visa grants a six-month stay, doubling the current allowance for short-term visitors, with the possibility of renewal after a six-month hiatus outside Japan.

Worth It? While it’s great seeing new options emerge out of Japan, the existing Business Manager Visa or Startup Visa seem to be better options. This new digital nomad visa only allows a 6 month stay with a higher income requirement than most other digital nomad visas.

UPDATE

China’s Elite Continue to Invest in Passports

China's affluent continue casting their sights abroad, seeking the security and freedom that second passports can provide. This surge in interest for alternative citizenship and residency is a direct response to the limitations experienced during the pandemic and reflects a deeper desire for global mobility and economic diversification.

Seeking Visa-Free Access: For Chinese nationals, the allure of a stronger passport offering broader visa-free travel options is compelling. China's passport ranks 62nd globally, prompting high-net-worth individuals (HNWIs) to invest in countries with more travel liberties.

Safety, Security, and Economic Diversification: Beyond travel convenience, the quest for a second citizenship is driven by the desire for a safety net amidst uncertainties in China. Additionally, Chinese investors are looking to spread their wealth internationally.

New Destinations on the Radar: With countries like Australia and Ireland revising their investment migration policies, Chinese HNWIs are turning to Malta and Portugal, drawn by their investment opportunities, quality of life, and paths to citizenship.

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UPDATE

Latvia’s Attractive RBI Program

Latvia's Residency by Investment (RBI) program is emerging as a compelling alternative to the more established golden visa schemes, offering a gateway to the European Union and the Schengen Area for high-net-worth individuals.

Flexible Investment Routes: Starting at an accessible 50,000 euros for a company investment, Latvia presents various investment pathways, including real estate, government bonds, and bank deposits, each leading to a renewable 5-year Temporary Residence Permit (TRP).

No Minimum Stay, Path to Citizenship: The program boasts no minimum stay requirement to maintain TRP eligibility, with an annual renewal process for the eID Residency Card. For those committed to Latvia, permanent residency and eventual citizenship are within reach after ten years, offering a long-term EU foothold.

Latvia's RBI program stands out for its affordability, flexibility, and the promise of European connectivity, making it an attractive option for investors seeking security, mobility, and a stable investment climate.

MARKET REVIEW OF THE WEEK

Montevideo, Uruguay 🇺🇾

With Uruguay's real estate market on the rise, now might just be the perfect time to consider investing. According to data analysis, Uruguay presents a unique blend of stability, economic growth, and increasing wealth, setting the stage for potentially lucrative real estate investments. The country's solid democratic tradition, coupled with effective economic policies, has fostered a stable environment, reducing poverty and inequality. The IMF forecasts a promising economic expansion for Uruguay, with an average GDP growth rate of 2.3% over the next five years, enhancing the appeal for property investors.

Moreover, the population's gradually increasing wealth signals a rising demand for housing, particularly in urban areas like Montevideo, Punta Del Este, and Colonia. However, investors should note the moderate rental yields, ranging between 3.1% and 5.8%. Despite this, the anticipated strong inflation rate of 5.0% annually over the next five years could drive property values upwards, making real estate a viable hedge against inflation and potentially yielding significant returns over time.

In summary, 2024 could be an opportune year for investing in Uruguay's real estate, thanks to its excellent stability, economic prospects, and the potential for property value appreciation. Whether you're looking to buy and rent or seeking capital gains, Uruguay's property market is worth considering for your investment portfolio.

BOOK OF THE WEEK

The Great Taking

The Great Taking by David Rogers Webb offers an in-depth look at the global financial system, focusing on how central bankers allegedly plan to dominate the world through debt manipulation. Drawing on his background as a former hedge fund manager, Webb unveils a scheme by elite bankers to control securities, bank deposits, and leveraged properties, effectively enslaving humanity under a mountain of debt. He highlights the strategic manipulation of debt cycles and the synchronized actions of central banks as tools for this elite group to consolidate power and influence over the global economy.

In a concise yet powerful narrative, Webb underscores the potential consequences of such financial domination on democracy and individual freedom. He paints a concerning picture of a future where economic disparities widen, and democratic institutions are weakened under the weight of concentrated economic power. The Great Taking serves as a call to action, urging for reforms in financial transparency and accountability to prevent the usurpation of power by a select few. Webb’s critique is a rallying cry for a reimagined financial system that prioritizes equity and the protection of democratic values.

This book is free to download from the official site here. You can also watch the documentary here.

THAT’S ALL FOR THIS WEEK

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