Jump to content
House Price Crash Forum
Trampa501

Super-Rich To Be Given Fast-Track To Settle In Uk

Recommended Posts

Super rich article Guardian

The super-rich are to be offered a fast track to settle in Britain under new immigration rules for high-value investors and entrepreneurs to be unveiled Wednesday.

Overseas "super-investors" who are willing to keep £5m in a UK bank account are to be given the right to stay indefinitely in Britain after only three years, two years faster than the five-year wait imposed on every other migrant.

On the one hand, seems logical and will benefit the economy. But, London house prices...

Share this post


Link to post
Share on other sites

Super rich article Guardian

On the one hand, seems logical and will benefit the economy. But, London house prices...

"keep £5m in a UK bank account"

Hah - more 'proof' the banks are bust and empty! :unsure:

Share this post


Link to post
Share on other sites

Super rich article Guardian

On the one hand, seems logical and will benefit the economy. But, London house prices...

Interesting to see that oligarchs and crime lords fleeing to our accommodating shores with bags of stolen loot are now being referred to as 'entrepeneurs'

Probably cooked up by the same genuises who rebadged mercenaries as 'civilian contractors'

Language is a wonderful thing...

Share this post


Link to post
Share on other sites
We will sell to no man, we will not deny or defer to any man either Justice or Right.

Unless he is really rich.

Share this post


Link to post
Share on other sites

It's a good idea.

Frankly we should be making this place attractive to every bit of world money. Why not be a tax haven? Seems to do some other places no harm.

Share this post


Link to post
Share on other sites

Interesting to see that oligarchs and crime lords fleeing to our accommodating shores with bags of stolen loot are now being referred to as 'entrepeneurs'

Probably cooked up by the same genuises who rebadged mercenaries as 'civilian contractors'

Language is a wonderful thing...

Yes - one for the Mubaraks and Ghadaffis of this world

All part of the plot to turn London into the global 'BRIC' capital for dodgy money where the worlds corrupt can do what they like no questions asked :unsure: - you only need to look at Jersey to see what that does to property prices. It wont be a plus for the locals

Share this post


Link to post
Share on other sites

Why the hell would anyone with that much money want to come here?

Most of the stars once they've made it sod off to America on the first available flight.

There's nothing in the UK other than lousy weather, congested roads and Limies...

Share this post


Link to post
Share on other sites

Why the hell would anyone with that much money want to come here?

Most of the stars once they've made it sod off to America on the first available flight.

There's nothing in the UK other than lousy weather, congested roads and Limies...

In the case of the thieves who looted Russia they get lower tax rates, no chance of extradition, a more compliant government and media, better roads (just), no mobs of torch wielding countrymen

...and better weather

Edited by Charlton Peston

Share this post


Link to post
Share on other sites

We're a bit too big for that. To work you really need to be quite a small country where taking a small slice from a lot will pay for the things your population needs.

We would need to offset any gains we made against the losses on existing txes we'd make.

We really ought to be joining forces with the big nations and forcing companies to pay taxes according to revenue in markets. No pay taxee, no markety. Bye bye.

In principle, sure. Trouble is that some other sod always undercuts your offer.

The rules on operating are soooooooooo difficult to pin down. Defining economic activity for one thing. Did you know that one stunt is for some brands to be legally owned by a Swiss firm and the operating company (some you know and love) pays a licence fee to this Swiss company for the hire of their brands.

In this way the UK company truly doesn't make much profit because, you know, renting these mega-brands is an expensive business.

Now really, how can you unpick that?

Share this post


Link to post
Share on other sites
The super-rich are to be offered a fast track to settle in Britain under new immigration rules for high-value investors and entrepreneurs to be unveiled Wednesday.

Let's let in Gadaffi then. Mind you, I wouldn't want to be his next door neighbour. OTOH I think he'd make an excellent minister for welfare reform.

Share this post


Link to post
Share on other sites

Super rich article Guardian

On the one hand, seems logical and will benefit the economy. But, London house prices...

But the effect on london house prices is the 'benefit' to the economy.

Do you really suppose they are gonna start open cast mining in Chelsea, or put gangs of blazered & boatered school children to work sewing sequins on garments in Holland Park? More likely they'll be selling here than making. Still, thanks to economists in general, we now call shopping "output", irrespective of whether the money existed before the purchase occured. Such a shame that drugs and prostitution can't appear in the figures. then again, neither do they appear in the CPI, so every cloud and all that ....

Share this post


Link to post
Share on other sites

In principle, sure. Trouble is that some other sod always undercuts your offer.

The rules on operating are soooooooooo difficult to pin down. Defining economic activity for one thing. Did you know that one stunt is for some brands to be legally owned by a Swiss firm and the operating company (some you know and love) pays a licence fee to this Swiss company for the hire of their brands.

In this way the UK company truly doesn't make much profit because, you know, renting these mega-brands is an expensive business.

Now really, how can you unpick that?

Actually, angela merkel has come up with a novel way to throw a big nasty wrench into corp tax avoidance schemes. She is suggesting that corp tax is paid on a corporations % of global sales in that particular country. It would only count sales to units outside of that corporate entity so internal sales to subsiduaries or others it has a controlling interest in would be excluded. So for example if a corporation makes 5% of global sales in the uk, it would pay corp tax on 5% of global profit in the UK. It would automatically negate irelands corp tax avoidance mechanism, and the more countries that adopted it the smaller the incentive to domicile in low corp tax nations, since domicile would have zero effect on the corp tax paid in any country adopting this policy.

From comments made this is part of the quid pro quo angela merkel wants for the boost to the bailout fund, what she is suggesting in her 'tax harmonization' policies.

Share this post


Link to post
Share on other sites

Actually, angela merkel has come up with a novel way to throw a big nasty wrench into corp tax avoidance schemes. She is suggesting that corp tax is paid on a corporations % of global sales in that particular country. It would only count sales to units outside of that corporate entity so internal sales to subsiduaries or others it has a controlling interest in would be excluded. So for example if a corporation makes 5% of global sales in the uk, it would pay corp tax on 5% of global profit in the UK. It would automatically negate irelands corp tax avoidance mechanism, and the more countries that adopted it the smaller the incentive to domicile in low corp tax nations, since domicile would have zero effect on the corp tax paid in any country adopting this policy.

From comments made this is part of the quid pro quo angela merkel wants for the boost to the bailout fund, what she is suggesting in her 'tax harmonization' policies.

I think it would be even simpler to just have a transactional tax on all transfers of cash - whether they are profit or not.

For example this could be a flat 2% tax on everything. For example your customer pays £100 into your bank - £2 goes to the government - £98 is cleared into your account.

Businesses would have to accept the tax as being levied to trading in the UK. All other business taxes would be removed saving business millions in accountancy fees and corporate structuring.

Share this post


Link to post
Share on other sites

No they will not pay UK taxes, why should they? Branson, Green et al don't so why should some rich foreigner who is living here be expected to pay tax? This is not how the world works, now pay YOUR tax and get back in your box :lol:

Um...ok :unsure:

Share this post


Link to post
Share on other sites

To paraphrase the bard [Homer Simpson]: Ah money, the cause of, and solution to, all life's problems.

The worth of some people can't be measured in Sterling or gold...

Share this post


Link to post
Share on other sites

I think it would be even simpler to just have a transactional tax on all transfers of cash - whether they are profit or not.

For example this could be a flat 2% tax on everything. For example your customer pays £100 into your bank - £2 goes to the government - £98 is cleared into your account.

Businesses would have to accept the tax as being levied to trading in the UK. All other business taxes would be removed saving business millions in accountancy fees and corporate structuring.

Though the sentiment of this are tidy, you have highlight only some of the problems. It surely would fuel the black economy. How would we generate any of this tax from the shadow banking system?

Be interesting to see how they regulate to prevent these "entrepreneurs" having once gained citizenship from just transferring the money back out of the country so that the funds can used to repeat the exercise once again.

Share this post


Link to post
Share on other sites

It's a good idea.

Frankly we should be making this place attractive to every bit of world money. Why not be a tax haven? Seems to do some other places no harm.

The UK is already a tax haven and extremely attractive to world money. This has created distortions that arguably fuel many of the issues which occupy people on this forum

I'm not sure how anyone could separate out and assess the net impact of maintaining London and the South East as a glorified Hole-in-the-Wall from everything else that is going on. But, personally, I suspect that giving safe haven to a bunch of wealthy criminals, speculators and despots might just have the teensiest of corrupting effects on politicians, public officials and media outlets in the host country

Edited by Charlton Peston

Share this post


Link to post
Share on other sites

another loophole..

all those guys will reuse this money to bring in their dependents and relatives by recycling.. the policy is not framed well..

this looks good in short term, but bad in long term

Share this post


Link to post
Share on other sites

The UK is already a tax haven and extremely attractive to world money. This has created distortions that arguably fuel many of the issues which occupy people on this forum

I'm not sure how anyone could separate out and assess the net impact of maintaining London and the South East as a glorified Hole-in-the-Wall from everything else that is going on. But, personally, I suspect that giving safe haven to a bunch of wealthy criminals, speculators and despots might just have the teensiest of corrupting effects on politicians, public officials and media outlets in the host country

+1 the UK is a tax haven except for the locals.

The Shaxson book is a good read that details how London acts as a tax haven for the uber wealthy - effectively laundering dodgy global money http://www.amazon.co.uk/Treasure-Islands-Havens-Stole-World/dp/1847921108/ref=sr_1_1?s=books&ie=UTF8&qid=1300356208&sr=1-1

One of the biggest distortion is its impact on London house prices and how this is rippling out to more of the non "super prime" (as described by the Estate Agents :rolleyes: ) areas of London, pricing out more and more people. Its a conspiracy of silence by the UK elite....

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.