Singapore Dominates as Preferred Destination for Investment Migration Among Crypto Millionaires in Tax-Friendly Havens, According to Crypto Adoption Index by Henley & Partners
Interestingly, Singapore and the United Arab Emirates (UAE) have achieved a perfect rating of 10 out of 10 for their tax-friendly approach to cryptocurrency transactions. They are highly praised for their progressive stance on crypto taxation.
Conversely, the Crypto Wealth Report, a comprehensive compendium also curated by Henley & Partners, delves into the domain of crypto affluence. Additionally, the data unveils a substantial number of about 88,200 crypto millionaires worldwide. Among this affluent group, approximately 40,500 individuals have primarily invested their wealth in Bitcoin.
Furthermore, the report also presents a remarkable estimate: approximately 425 million people worldwide hold some form of cryptocurrency. This signifies the widespread adoption and ownership of digital assets across the globe.
Investment Migration Trends Among Crypto Experts: Insights from Henley & Partners
Dr. Juerg Steffen, CEO of Henley & Partners, has noticed a growing number of inquiries from crypto experts in recent months. Notably, these individuals are determined to strengthen their asset portfolios as a precaution against potential restrictive regulations or high taxes on digital assets in their home countries.
Surprisingly, the report identifies 182 crypto centi-millionaires among the global elite, marked by holdings exceeding $100 million. Within this group, 78 are known for their strong interest in Bitcoin.
Additionally, the report recognizes six individuals worldwide who have reached the prestigious status of crypto billionaires, accumulating substantial wealth from various digital assets. However, it is noteworthy that the report has refrained from divulging the identities of these prodigious crypto billionaires.
Singapore Emerges as the Preeminent Haven of Choice for Crypto Enthusiasts
Notably, Singapore emerges as the uncontested haven of choice for crypto magnates in search of shelter from the looming specter of stringent regulatory regimes. This eminence is validated by a formidable rating of 50.2 out of 60, equivalent to an impressive 83.76%.
Also, Switzerland closely follows in second place, boasting a commendable score of 78.17%. Notably, the UAE clinches the third spot with a rating of 76.17%.
Furthermore, together with HongKong, Australia, the UK, Canada, Malta, and Malaysia, these countries form the top tier of crypto-friendly destinations. They are known for their favorable stance toward cryptocurrencies.
The report also accentuates the allure of nations extending residency and citizenship opportunities via investment programs. Moreover, these options offer crypto investors a chance to obtain residency privileges or citizenship rights in exchange for substantial capital investments.
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