Calls for Simplifying ESG-Related Rules Grow Louder in Europe
The Platform on Sustainable Finance is recommending the European Union's Taxonomy Regulation be revised to make it easier for companies to decide which metrics are material to report. The regulation, which was adopted in 2020, has been renounced by some companies for being overly complicated and of limited use.
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Time Business News
2 hours ago
- Time Business News
The Strategic Use of European Passports for Global Reinvention
Vancouver, Canada — In a world defined by shifting political alliances, unpredictable economic cycles, and rapidly changing migration policies, individuals with the foresight to diversify their citizenship options are gaining a distinct strategic advantage. Among the various citizenships available globally, European passports stand out as both a practical tool and a symbol of stability. They are increasingly being used not just for mobility but for full-scale life reinvention, enabling individuals to reset their personal, professional, and financial trajectories within a robust legal framework. Amicus International Consulting, a global leader in multi-jurisdictional identity strategies, has observed a significant rise in clients who use European citizenship not simply as a travel convenience, but as the foundation for building a new chapter in their lives. From entrepreneurs seeking to expand into European markets to families looking for better education and healthcare access, the appeal of European passports spans continents and professions. Why European Citizenship Has Global Pull Europe offers more than picturesque cities and cultural heritage. It represents a legal, political, and economic system that provides some of the strongest protections and most extensive rights available to citizens anywhere in the world. European Union (EU) citizenship grants: Freedom of Movement — The ability to live, work, and study in any EU member state without additional visas or permits. — The ability to live, work, and study in any EU member state without additional visas or permits. Global Travel Access — Many European passports rank in the top tier of global mobility indexes, with visa-free or visa-on-arrival access to over 180 countries. — Many European passports rank in the top tier of global mobility indexes, with visa-free or visa-on-arrival access to over 180 countries. Robust Legal Protections — Rights enshrined in the EU Charter of Fundamental Rights, including privacy, non-discrimination, and access to justice. — Rights enshrined in the EU Charter of Fundamental Rights, including privacy, non-discrimination, and access to justice. Economic Opportunity — Entry into one of the world's largest single markets, with integrated trade, investment, and financial systems. Non-EU European passports, such as those from Norway, Switzerland, or Iceland, still deliver substantial mobility and legal advantages through the European Free Trade Association (EFTA) and bilateral agreements. Legal Pathways to Acquiring a European Passport The specific path to a European passport varies depending on nationality, ancestry, and financial capacity. Amicus International Consulting typically evaluates multiple avenues for each client: 1. Citizenship by Descent (Jus Sanguinis) Many European countries grant citizenship to individuals who can prove descent from a citizen, sometimes across several generations. Italy, for example, places no generational limit if records are in order, while Ireland allows claims from grandparents and even great-grandparents. 2. Citizenship by Naturalization This requires a period of legal residence, which can range from three years in countries like Belgium (with integration) to ten years in Spain. Residency often brings interim benefits such as healthcare access, business rights, and local mobility. 3. Citizenship by Investment (CBI) Although the EU has tightened scrutiny on investment-based citizenship, Malta still offers a structured program combining residency with a fast-track citizenship option through economic contributions. 4. Citizenship by Marriage In many European states, marriage to a citizen can shorten residency requirements for naturalization, often by several years. 5. Special Merit Citizenship Awarded for exceptional contributions in fields such as science, sports, or culture, though it is rarely granted and is subject to strict government discretion. The Passport as a Tool for Reinvention For many Amicus clients, the European passport is not the end goal but the means to achieve a larger transformation. It becomes a legal foundation upon which to build a redesigned life. Strategic uses include: Geographic Relocation — Moving to a safer, more stable environment for family life. — Moving to a safer, more stable environment for family life. Business Expansion — Accessing European markets and benefiting from EU trade agreements with over 70 countries. — Accessing European markets and benefiting from EU trade agreements with over 70 countries. Educational Opportunity — Enrolling in top-tier universities at reduced tuition rates available to citizens. — Enrolling in top-tier universities at reduced tuition rates available to citizens. Financial Structuring — Holding assets under jurisdictions with predictable regulations and strong property rights. — Holding assets under jurisdictions with predictable regulations and strong property rights. Lifestyle Design — Choosing residence in regions offering specific climates, cultures, or tax regimes. Case Study: Reinvention Through Dual European Passports A Middle Eastern investor and philanthropist approached Amicus International Consulting seeking to reposition both personal and business life away from increasing political instability in the home region. Step 1: Multi-Pathway Evaluation Amicus identified Irish citizenship by descent through a grandparent, and also considered Portugal's Golden Visa as a parallel route. Step 2: Documentation and Ancestry Proof Records were sourced from church archives in Ireland and immigration databases abroad. Simultaneously, the client began the Golden Visa application to secure immediate EU residency. Step 3: Business Relocation A European holding company was registered in Portugal to consolidate investments and qualify for residency. Step 4: Citizenship Confirmation After 18 months of processing, Irish citizenship was granted, giving full EU mobility rights. The Golden Visa was retained for property and investment diversification. Step 5: Life Transition The client moved the family to Spain, established philanthropic initiatives in multiple EU countries, and gained the ability to travel visa-free to nearly every intended business destination. The outcome was a complete legal reinvention that preserved the client's global influence while increasing privacy, mobility, and stability. Privacy and Legal Protections European citizens benefit from some of the most comprehensive privacy protections in the world under the General Data Protection Regulation (GDPR). This includes: Rights to control personal data collection and usage. Requirements for organizations to disclose how data is handled. Legal remedies for breaches and misuse of information. For high-privacy clients, this legal shield is a significant factor in choosing European citizenship as part of an identity transformation plan. Compliance and Responsibilities With the benefits of European citizenship come responsibilities: Taxation — While most EU countries tax based on residence rather than citizenship, moving between jurisdictions may create reporting obligations. — While most EU countries tax based on residence rather than citizenship, moving between jurisdictions may create reporting obligations. Civic Duties — Participation in national and EU elections, and some countries, jury service or limited national service. — Participation in national and EU elections, and some countries, jury service or limited national service. Legal Obligations — Compliance with both EU law and the domestic laws of the country of citizenship. Amicus ensures clients understand and meet all obligations to maintain citizenship without risk of revocation. Choosing the Right European Jurisdiction The choice depends on: Mobility Score — Some passports include unique access (e.g., visa-free travel to certain regions outside the EU). — Some passports include unique access (e.g., visa-free travel to certain regions outside the EU). Residency Requirements — For naturalization or investment programs. — For naturalization or investment programs. Cultural and Language Fit — For ease of integration and daily life. — For ease of integration and daily life. Tax Regime — Impact on personal and corporate holdings. Amicus uses a proprietary scoring model that weighs these factors against client objectives to select the optimal jurisdiction. European Passports in Multi-Jurisdictional Strategies A European passport often forms one layer in a multi-passport strategy, paired with citizenship from another region, such as the Caribbean, for expanded visa access or a low-tax jurisdiction for strategic residency. This layered approach provides redundancy in mobility and jurisdictional protection against political or economic shifts. Geopolitical Considerations Even as Europe faces internal challenges, its passport remains one of the most valuable in the world. Political neutrality, strong economies, and extensive treaty networks mean European citizens can maintain access to global opportunities regardless of external instability. Common Misconceptions 'A European passport will automatically reduce my taxes.' In reality, tax obligations depend on where you live, not just citizenship. In reality, tax obligations depend on where you live, not just citizenship. 'EU privacy laws mean no one can access my information.' While GDPR is strong, law enforcement and treaty partners can access data when required. While GDPR is strong, law enforcement and treaty partners can access data when required. 'It's quick and easy to get citizenship by investment anywhere in Europe.' The reality is that most programs have tightened due diligence and timelines. Future Outlook Demand for European passports is projected to grow as individuals seek resilience against global instability. EU policymakers are likely to continue refining eligibility rules, particularly for investment-based programs, balancing security with economic benefits. An Amicus International Consulting representative summarizes: 'A European passport is more than a travel document. It is a strategic asset for personal reinvention, offering clients the legal, economic, and cultural foundation to start fresh on their terms.' Contact Information Phone: +1 (604) 200-5402 Email: info@ Website: TIME BUSINESS NEWS
Yahoo
2 days ago
- Yahoo
Canada joins allies in lowering price cap on Russian oil
TORONTO (Reuters) -The Canadian government said on Friday it will join some of its closest allies in lowering the price cap for Russian oil over its continued war in Ukraine, the country's finance department said in a statement on Friday. Canada will lower the price cap for seaborne Russian-origin crude oil to $47.60 from $60 per barrel, the statement said. The price cap move brings Canada in line with the European Union and the United Kingdom, who announced in July they would lower the cap as they target Russia's oil revenues and ramp up pressure on Moscow over the war. 'By further lowering the price cap on Russian crude oil, Canada and its partners are ratcheting up the economic pressure and limiting a crucial source of funding for Russia's illegal war," Finance Minister Francois-Philippe Champagne said.
Epoch Times
2 days ago
- Epoch Times
The Muscle of Brussels
Opinion Opinion How the European Union became the world's regulatory superpower. In a world where global power is measured by military strength, technological innovation, or cultural influence, it is striking that the European Union, without housing major tech giants or centers of disruptive innovation, has turned bureaucracy into a tool of global power. It shapes the behavior of global companies, including American big tech firms, which adapt their products to comply with European norms. This phenomenon is known as the 'Brussels Effect' and has positioned the EU as the world's regulatory superpower, fueling growing tensions, particularly with the United States following the re-election of Donald Trump.
