Drivers and Effects of Residence and Citizenship by Investment

Sofronis Clerides, Maria Coelho, Alexander Klemm and Christos Kotsogiannis

No 2025/008, IMF Working Papers from International Monetary Fund

Abstract: This paper discusses under what circumstances residence and citizenship by investment (RBI or CBI) schemes could be used by individuals engaging in tax avoidance or evasion. It describes the market for CBI and RBI and how features of the offered programs might reveal the underlying motivations of governments offering them. The paper then presents empirical evidence on the conditions under which such schemes are offered. Finally, the paper estimates the impact of such schemes on investment, house prices, and public revenues.

Keywords: Residence by Investment; Citizenship by Investment; Tax Evasion.; house price growth; CRBI scheme; investment requirement; CRBI program; CRBI data; CBI program; Housing prices; Personal income tax; Tax evasion; Inflation; Global; Caribbean (search for similar items in EconPapers)
Pages: 36
Date: 2025-01-10
New Economics Papers: this item is included in nep-iue and nep-pbe
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