As you probably know, money runs the world. But what I didn’t know is that when you have sufficient money, you can basically immigrate into any country in the world. Legally. And it’s not even a lot of money either, it’s about $500,000 per person (I’m unclear, but you actually might get most of it back after awhile).
- €500,000 for Portugal
- €250,000 for Greece
- $5,000,000 for Australia (local currency)
- $250,000 for St Kitts
- $800,000 for Canada
- $500,000 for US
I think that’s a bit unfair to have this mechanism available. If I had that amount of money lying around, I think I would be clever or resourceful enough to manage my money in such a way that would prevent me from paying a sufficient amount of tax to offset the resources I would use in a country. Maybe there is some intangible reason to have rich people as citizens of your country? I don’t know, but it seems like a big loophole.
I’m glad Canada closed theirs.