Good morning, global opportunists! 

Welcome to the 13th 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:

• UK’s Attractiveness Continues to Dwindle 🇬🇧

• Visa Free Access Stripped 🇩🇲🇻🇺

• Crypto Mining Taxes In The Works? 🇺🇸

• 1,500 BTC Millionaires Daily 🤯

Let’s go!

UPDATE

The End of UK’s Non Dom Status

British Finance Minister Jeremy Hunt has announced the abolition of the "non-dom" status, aligning closely with what has been a significant Labour Party policy. This status, allowing wealthy residents to avoid taxes on overseas income, has long sparked debate.

• A Shift in Tax Policy: The "non-dom" status, a boon for many wealthy individuals not considering Britain their permanent home, will be phased out.

• A Response to Public Scrutiny: The change follows intense scrutiny, especially after the public revelation concerning Akshata Murty, Rishi Sunak’s wife. It signifies a broader call for tax fairness.

UPDATE

Vanuatu & Dominica Visa Free Access Revoked

In a significant shift, Ireland has announced that citizens of Dominica and Vanuatu will now require visas to enter the country, effective March 7, 2024. This decision echoes the UK's recent move to impose similar restrictions, pointing to concerns over the integrity of these nations' citizenship by investment programs.

• Visa Mandate Activated: The new requirement isn't just for long stays; it also applies to airport transits, marking a strict enhancement in Ireland's immigration control.

• Aligning with the UK: Ireland’s move is part of a broader strategy to maintain a unified stance on immigration policies within the Common Travel Area, ensuring that both Ireland and the UK address “security” concerns in a coordinated manner.

• Impact on Travel: Although the actual number of affected travelers might be low, the policy change is significant, reflecting growing scrutiny of investment-linked citizenship schemes and their potential for misuse.

UPDATE

US Wants To Tax Crypto Mining

Joe Biden's 2025 budget proposes taxing crypto mining businesses 30%. Central to this proposal is a groundbreaking excise tax on Bitcoin mining, signaling a desire for more over-regulation.

• Mining Under the Microscope: The plan introduces a 30% excise tax on the electricity costs for firms mining digital assets, phased in over three years.

• Closing Loopholes, Boosting Revenue: Beyond mining, the budget targets broader crypto taxation and regulation enhancements, including applying wash sale rules to digital assets and expanding reporting requirements, all aimed at tightening the tax net on crypto transactions.

• Political and Practical Hurdles: While the proposal outlines Biden's vision, its real-world impact hinges on congressional approval, where opposition could stymie these ambitious plans.

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UPDATE

BTC Millionaire Boom

Bitcoin's recent surge is not just breaking price records; it's also fast-tracking the creation of wealth, with about 1,500 new "millionaire wallets" popping up every day, reports Kaiko Research.

• Rapid Wealth Accumulation: The dramatic uptick in Bitcoin's value, largely fueled by the enthusiasm surrounding new U.S. exchange-traded funds (ETFs), is translating into a significant daily increase in wallets holding over a million dollars worth of Bitcoin.

• Anonymity and Ambiguity: While the public nature of the blockchain allows visibility into wallet balances, the anonymity of these addresses keeps us guessing—are they individual fortunes or institutional holdings?

• Contextualizing the Craze: Despite the current excitement, the rate of millionaire wallet creation is yet to surpass the 2021 peak, signaling a more tempered yet optimistic market sentiment.

MARKET REVIEW OF THE WEEK

Buenos Aires, Argentina

The city's real estate allure is undeniable, with areas like Palermo, Recoleta, and Belgrano standing out as hotspots, attracting both local and international buyers. Here's the lowdown:

• High Demand Meets Economic Challenges: While some neighborhoods experience booming demand, especially for properties aligning with modern preferences, economic uncertainties and high inflation cast long shadows, affecting construction, investment, and ultimately, the market balance.

• Buyer Preferences and Investment Insights: Today's buyers prioritize a mix of affordability, location, and amenities, with a noticeable trend towards smaller units. Investment-wise, there’s a keen interest in properties offering rental income potential, especially in vibrant neighborhoods or those close to educational institutions.

• Market Dynamics and Future Outlook: The market is also witnessing a shift towards sustainable living, indicating a niche yet growing interest in eco-friendly homes.

BOOK OF THE WEEK

How I Found Freedom In An Unfree World

How I Found Freedom in an Unfree World by Harry Browne is a guide that explores the concept of personal freedom, challenging the reader to recognize how self-imposed restrictions often hinder personal happiness more than societal constraints. Browne advocates for a deeper understanding of oneself and one's desires, arguing that true freedom comes from acting on self-interest responsibly and ethically, without infringing on others' rights. He emphasizes the importance of breaking free from societal conventions, false dilemmas, and the traps of unwarranted obligations and guilt to achieve personal liberation.

The book further delves into practical strategies for attaining personal freedom, detailing how individuals can overcome external and internal barriers that limit their choices. Browne categorizes these barriers into traps such as the Identity Trap, which confuses one's role with one's self, and the Government Trap, which suggests that problems can only be solved through governmental solutions. By advocating for self-reliance, non-interventionism, and personal responsibility, the author provides a blueprint for individuals seeking to live a life defined by their own standards, free from the impositions of societal norms and expectations.

THAT’S ALL FOR THIS WEEK

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