Many countries do this to bring in wealthy investors. In those countries there are requirements to invest in local economy, not sure about this one.
The wealthy use these to travel every couple of month, allowing them to skip residency taxes by never being anywhere long enough.
However a US one is just dumb, because US tax laws are one of the only ones that will tax you, as a resident, when you are not in the US. So the types of people who typically buy these won’t go near it.
Many countries do this to bring in wealthy investors. In those countries there are requirements to invest in local economy, not sure about this one.
The wealthy use these to travel every couple of month, allowing them to skip residency taxes by never being anywhere long enough.
However a US one is just dumb, because US tax laws are one of the only ones that will tax you, as a resident, when you are not in the US. So the types of people who typically buy these won’t go near it.
Don’t worry! It’s the types that need to launder money that this will serve. Problem solved!