January
The world’s financial markets collapsed
On March 12, stock markets experienced a record drop in quotations. The leading American indexes lost 9.5–10 %, European ones fell by 12-17 %, and Russian ones fell by 8.3-11 %. For the first time in four years, the dollar exchange rate reached 75.5 rubles, and the Euro exchange rate exceeded 84 rubles. Investors are responding to the threat of isolation due to the spread of the coronavirus.
On Thursday, March 12, trading on us exchanges led to a rapid drop in quotations and the renewal of multi-year lows. Continue reading
More than 5,000 foreign investors have been granted Turkish citizenship in two years
The decrease in the minimum investment required to obtain a country’s passport has led to a boom in the Turkish real estate market, writes Daily Sabah.
According to the Turkish interior Ministry, 5,111 foreign investors have received the country’s passport since the citizenship-by-investment program fell four times in price. Almost 9,000 more applications are still under review, says interior Minister Suleyman Soylu. In addition, another 1,382 investors have completed the process, but have not yet received the documents, he added. Continue reading
New rules for foreign account holders
From 2020, it will be easier for Russian residents to receive income from real estate to their foreign accounts. Tranio lawyers explain what this means, how to submit reports to the tax service under the new rules, and what to do for owners of foreign accounts.
From the first of January 2020, under the new rules on currency transactions, it does not matter in which country the property is located, and in which country the account is opened. The most important thing is that the account is in a “transparent” country: a member of the EEU or in a country with which Russia has an automatic exchange of financial information. Continue reading
