Wealthy Vietnamese advised to ‘buy’ European citizenshipVietNamNet Bridge - As the governments of the US, Australia and Canada have tightened their immigration policies, Vietnamese consultancy firms are now advising wealthy Vietnamese to apply for citizenship in countries which have more open regulations, especially in Europe. As the governments of the US, Australia and Canada have tightened their immigration policies, Vietnamese consultancy firms are now advising wealthy Vietnamese to apply for citizenship in countries which have more open regulations, especially in Europe. Only when Nguyen Thi Nguyet Huong, a businesswoman, was dismissed as a National Assembly delegate, after she was found holding Malta citizenship, did people realize that many wealthy Vietnamese seek foreign citizenship.There are many consultancy firms which promise to help them obtain citizenship. The countries also offer attractive tax incentives for non-residential citizens.Quang Hung, a consultant, said some European countries apply relatively ‘loose’ requirements on taxation, such as Malta, Cyprus and Cayman. Some countries don’t ask investors to prove their money is clean.In Hungary, investors just need to buy 300,000 euros worth of 5-year government bonds.

Source: VietNamNet News September 06, 2016 06:56 UTC