St. Kitt’s Passport Investment Program: Park Hyatt Groundbreaking!

Harvey Law Group (HLG) founder Jean-Francois Harvey and I will be joining the team from Dubai-based Range Development in beautiful St. Kitts next week to celebrate the groundbreaking of Range’s spectacular Park Hyatt St. Kitt’s in stunning Christophe Harbour.  HLG is the exclusive agent in China and Vietnam for this exciting, citizenship-based investment opportunity which has been eagerly welcomed by many of our Asian investor clients. As politically incorrect as it is to say anything negative about EB-5 in the current frenzied, hyper-sales driven China EB-5 market, the St. Kitts investment passport program is indeed a viable option for many high net worth individuals looking for a rapid “Plan B” migratory option…but wary of the implications of global tax liabilities that come with U.…

Wealthy Asians: PLEASE Read This Before Entering the US as an EB-5 Conditional Resident

Between the greedy US developers, the greedy US lawyers out to make a quick I-526 buck and the greedy Asian migration agents, affluent folks from all over the Far East are being led down the primrose lane to US tax poverty.  Today is Tuesday and in two business days this week, I have personally spoken with three high net worth individuals who have been told by all of the above that “the EB-5 is your best option”. Horsefeathers! Here’s the deal: 1) US tax residency is based upon physical presence in the US, not migration status; the only individuals exempt from the “substantial presence” test are bona fide full time F-1 student visa holders…not a practical solution for most entrepreneurs.  See the The IRS Substantial Presence Test if you want details.  Even a person in the US for jus…