Vietnam plans to introduce a special visa for highly qualified foreign specialists (the Vietnam Talent Visa), which will provide for a simplified process for obtaining residence permits, exemption from the requirement to obtain a work permit, and preferential conditions for family members. At the same time, it is proposed to exempt specialists involved in strategic projects from paying personal income tax for five years.
The Ministry of Public Security released the corresponding draft resolution of the National Assembly of Vietnam on October 16, 2026, for public comment.
The legislative initiative consists of 16 articles and aims to attract foreign experts, scientists, researchers, technology entrepreneurs, and other highly qualified specialists to implement strategic state programs, investment projects, and the development of an innovative economy.
The document applies not only to foreigners but also to Vietnamese citizens and members of the Vietnamese diaspora living abroad.
What benefits does the talent visa offer?
According to the draft, foreign specialists who meet the established criteria will be able to obtain a special visa and a corresponding temporary residence card.
Provisions are made for extending the duration of stay and changing the purpose of residence in accordance with immigration law.
Visa holders will be permitted to work simultaneously at multiple companies, research institutions, or government organizations without having to obtain a separate work permit for each employer.
When changing jobs, foreign specialists will not need to reapply for their current visa.
These simplifications will also apply to family members. Spouses and children under the age of 18 will be able to obtain UĐ2 visas and the corresponding temporary residence permits.
In addition, the state must ensure favorable conditions for the residence and education of the children of foreign specialists.
Five-Year Tax Holiday
One of the key provisions of the legislative initiative is a five-year exemption from personal income tax.
The exemption will apply to the salaries and bonuses of qualified specialists and the employees they recruit who perform strategic tasks.
It is proposed that the five-year period be calculated from the date the relevant income is earned.
At the same time, tax incentives will be available not only to specialists working in government agencies but also to employees of private companies involved in the implementation of strategic projects.
Separate incentives are provided for employers. Companies that hire qualified specialists to carry out strategic tasks will be able to additionally include in their tax-deductible expenses an amount equivalent to 50% of the salaries and bonuses actually paid to such employees.
Thus, the total amount of labor costs that can be taken into account when determining taxable income will potentially amount to 150% of actual payments.
Vietnam plans to allocate approximately 0.1% of GDP annually to talent development
The government also proposes establishing a special funding mechanism for programs aimed at attracting and developing highly qualified personnel.
It is planned to allocate approximately 0.1% of GDP annually for these purposes as part of the overall funding for science, technology, innovation, and digital transformation.
Priority will be given to projects of strategic importance to the country’s economy, particularly in the fields of high technology, scientific research, digitalization, and the modernization of production.
At the same time, the proposed selection system calls for an assessment of actual professional achievements and specialists’ ability to perform specific tasks.
Possession of a scientific degree, an academic title, or extensive professional experience will not be a mandatory requirement, except in cases where such requirements are explicitly stipulated by law for a specific type of activity.
According to the drafters, this will make it possible to attract not only renowned scientists but also young technology entrepreneurs, engineers, and developers of innovative products.
What the New Rules Will Mean for Foreign Investors
The proposed changes could increase Vietnam’s appeal to international technology companies, research and development centers, and enterprises implementing high-value-added investment projects.
Simplifying the hiring process for foreign experts and allowing them to work with multiple organizations simultaneously could reduce administrative costs for businesses and facilitate technology transfer.
At the same time, the proposed program is not a universal visa for digital nomads or an automatic pathway to obtaining a residence permit through real estate purchases.
Its main goal is to attract specialists to specific strategic programs and projects identified in accordance with national priorities.
The resolution has not yet been adopted. Once the public consultation period concludes, the document is to be reviewed by the National Assembly of Vietnam. The final selection criteria, application procedures, and validity periods for special visas will depend on the approved legislation.
Vietnam is one of the Southeast Asian economies actively attracting foreign investment in manufacturing, electronics, digital technologies, and infrastructure. In recent years, the country has been developing special support mechanisms for investors and highly qualified professionals with the aim of modernizing the economy and enhancing its international competitiveness.
The Italian government has proposed introducing, effective January 1, 2027, a tax on unrealized capital gains on financial assets for high-net-worth individuals who transfer their tax residency outside the country. The rate of the so-called “exit tax” will be 26%, and the new rules will apply to investors with relevant assets valued at EUR800,000 or more.
The relevant provisions are contained in Article 17 of the draft law on Italy’s 2027 state budget, approved by the government of Prime Minister Giorgia Meloni. The document received the necessary approval from Italian President Sergio Mattarella on October 30 and was submitted to Parliament for consideration.
According to the bill, the new tax will apply to individuals who have been residents of Italy for at least six of the last ten tax years and have decided to transfer their tax residency to another country.
A mandatory condition is the possession of financial assets and property rights subject to the relevant provision, with a total value of at least EUR800,000. However, taxation will apply only in cases where, following the change in residency, Italy loses the right to tax the corresponding investment income.
The tax will be levied not on the total value of the assets, but on the accumulated gains that the investor has not yet received from their sale.
Specifically, this refers to the increase in the market value of shares, equity interests in companies, securities, and other financial instruments. To determine the tax base, the positive difference between the market value of the assets and their tax basis at acquisition will be taken into account.
For example, if an investor purchased a portfolio of securities for EUR 700,000, and at the time the tax base is determined, its value has risen to EUR 1 million, the unrealized gain will amount to EUR 300,000. At the standard rate of 26%, the tax amount will reach EUR 78,000, even if the investor has not actually sold the assets.
At the same time, a preferential regime applies to income from certain government bonds. Only 48.08% of the corresponding profit will be included in the tax base, resulting in an effective rate of approximately 12.5%.
The standard deadline for paying the exit tax is 180 days from the date the change in tax residency takes effect.
However, for individuals relocating to European Union countries or to countries with which Italy has relevant tax cooperation agreements, a payment deferral is available.
To qualify, the investor must pay an advance equal to 50% of the calculated tax and provide a financial guarantee.
When moving to another EU country, the deferral may apply for up to five tax periods, and for other countries that meet the established conditions, up to ten.
If the assets are not sold during this time, the tax liability will be extinguished, and any overpaid amounts will be refunded. Similar provisions apply in specific cases of inheritance of assets or an investor’s return to Italy.
The new system will also apply to certain types of nonprofit associations and organizations that transfer their tax residency abroad.
According to estimates by the Italian Ministry of Economy and Finance, revenue from the new tax will amount to approximately EUR3.37 million in 2027 and EUR6.74 million annually from 2028 to 2031. Starting in 2032, the net budgetary impact, taking into account the expected refund of a portion of the payments, is estimated at EUR 3.37 million per year.
Italy is effectively proposing to extend to private investors the tax mechanism applicable upon a change in tax residency, which previously applied to companies and entrepreneurs.
A similar mechanism is already in place in France, where taxation of unrealized gains upon a change in tax residency applies provided that the relevant financial assets exist and the conditions established by law are met.
The proposed changes may be significant for international investors, owners of corporate assets, and high-net-worth foreigners who use Italy as a country of long-term tax residency.
In recent years, Italy has attracted high-net-worth foreigners through a special fixed-tax regime for foreign income. For new participants in this regime, starting in 2026, the annual payment will be EUR 300,000 instead of the previous EUR 200,000.
The introduction of the exit tax may affect the tax planning of such investors, especially if they are considering relocating to another country in the future. At the same time, the procedure for applying the new provisions to participants in the special tax regime requires further legal clarification.
However, the proposed mechanism is not a general tax on departure from Italy and does not provide for the automatic levying of 26% on the value of residential real estate or an individual’s total assets.
The bill must be reviewed and approved by the Italian Parliament by the end of 2026. During the legislative process, the tax rate, the conditions for its application, and the procedure for granting deferrals may be amended.
Italy remains one of Europe’s largest real estate markets and a popular destination for international investors, particularly those considering purchasing a home in conjunction with transferring their tax residency. The proposed changes may become an additional factor in choosing a country of residence and in long-term investment planning.
Sources: Italy’s 2027–2029 Budget Bill, Article 17, approved by the government on October 28, 2026; President of Italy, official approval of the bill’s submission on October 30, 2026; Investment Migration Insider, October 31, 2026.
The government is preparing changes to the customs clearance procedures for humanitarian aid to prevent abuse, and is also stepping up the fight against tax evasion schemes involving the artificial fragmentation of businesses, Prime Minister Serhiy Koretskyi said.
“We are stepping up our efforts to bring the economy out of the shadows. Together with law enforcement agencies, the tax and customs services, and as part of the Interagency Working Group, we have identified further measures. All relevant agencies have been given instructions,” he wrote on his Telegram channel on Saturday.
According to the prime minister, an updated list of goods affected by changes in customs clearance procedures for humanitarian aid will be finalized in the near future. This should prevent humanitarian shipments from being used as a cover for illegal imports.
“Humanitarian aid must reach those in need quickly, rather than serving as a cover for illegal imports. An updated, well-founded list of goods affected by the changes will be finalized in the near future,” Koretsky explained.
In addition, the tax authority, together with customs and the Economic Security Bureau, will step up its efforts regarding high-risk taxpayers.
Specifically, this concerns schemes to evade VAT payments through the artificial fragmentation of businesses, where large retail chains distribute their turnover among dozens or hundreds of sole proprietors. “This problem must be addressed by law enforcement,” the prime minister stated.
Koretsky emphasized that the goal of these measures is to ensure the necessary budget revenues and a level playing field for businesses operating legally.
The volume of transfers via the international financial service “NovaPay” (TM NovaPay) for January–September 2026 increased by 36% compared to the same period in 2025, reaching 598.7 billion UAH, according to a company statement released on Monday.
According to the statement, the number of transfers increased by 12% to 388 million.
“The results for the first nine months confirm that our solutions are becoming increasingly in demand, and customers are making more active use of digital financial tools. It is important for us not only to increase transaction volumes but also to continuously improve the customer experience by offering new opportunities and convenient solutions,” NovaPay CEO Igor Prykhodko is quoted as saying in the press release.
The financial service noted that the company paid 1.47 billion UAH in taxes and fees over the first nine months of this year, which is 32% more than in the same period last year.
As previously reported, in the first half of 2026, NovaPay increased the volume of transfers by 41% compared to the same period in 2025—to 391 billion hryvnias—while the number of transfers rose by 12%—to 258 million.
NovaPay was founded in 2001 as an international financial service, part of the Nova Group (“Nova Poshta”), and provides financial services both online and offline at “Nova Poshta” branches. In 2023, the company became the first non-bank financial institution in Ukraine to receive an expanded license from the NBU, which allowed it to open accounts and issue cards; it was also the first non-bank to launch its own financial app with a wide range of financial services at the end of last year.
According to the National Bank of Ukraine, the company accounts for approximately 22.7% of the total volume of domestic money transfers.
The Hungarian government has drafted a bill to introduce an annual tax on large fortunes at rates of 1–1.5%, which could affect not only Hungarian citizens but also foreign owners of real estate and businesses. The new tax is scheduled to take effect on December 15, 2026, and the first payments are due to the budget by August 31, 2027, according to a draft from the Hungarian Ministry of Finance.
According to the document, the net value of assets exceeding 1 billion forints (approximately $3.08 million) will be subject to taxation. A rate of 1% applies to the portion of taxable assets up to 100 billion forints, and 1.5% applies to the amount exceeding that threshold.
A tax-free allowance of 1 billion forints is granted to each individual separately, including spouses. When calculating the tax base, the value of assets is taken into account net of documented liabilities.
The list of taxable assets includes real estate, shares in companies, cash, securities, cryptoassets, investment-grade precious metals, and other valuable assets. The tax may also apply to works of art and jewelry valued at more than 3 million forints per item, as well as vehicles valued at more than 10 million forints.
Tax residents of Hungary are subject to taxation on their worldwide assets. However, a special rule applies to Hungarian citizens: after moving abroad, they will lose their resident status for purposes of the new tax only after ten years of living outside the country.
Foreign non-residents will pay tax exclusively on certain Hungarian assets, including real estate, property rights, and shares in companies registered in Hungary. Shares in foreign companies may also fall under the scope of the law if more than 75% of their balance sheet assets consist of Hungarian real estate.
However, simply owning an apartment or house in Hungary does not in itself create a new tax liability. A tax-exempt threshold of 1 billion forints is also provided for non-residents with respect to the relevant Hungarian assets.
According to estimates by the Ministry of Finance, the tax could affect approximately 15,000 high-net-worth individuals and 2,000 asset management entities. The expected additional revenue over four years is estimated at 800 billion forints.
The bill has passed the public consultation phase, which concluded on October 14; however, as of October 19, a final parliamentary decision has not yet been made.
The new tax regime is of interest to foreign investors, among whom citizens of Germany, Romania, Slovakia, China, the Netherlands, and Austria remain the largest groups of buyers of Hungarian real estate.
According to data from the National Bank of Hungary, compiled based on information from the National Tax and Customs Administration (NAV) and published in August 2026, foreign citizens accounted for 4% of all homebuyers in the country in 2025.
Citizens of Germany accounted for the largest share—1.1% of all homebuyers. Citizens of Romania accounted for 0.6%, Slovakia for 0.5%, the Netherlands and China for 0.3% each, and Austria for 0.2%.
More detailed statistics from the Hungarian Central Statistical Office (KSH) for 2024 allow for an assessment of the number of purchases by nationality. At that time, foreigners purchased approximately 6,600 residential properties with a total value of 309 billion forints, accounting for 6.4% of the value of all transactions in the housing market.
German citizens purchased the most properties—1,369. They were followed by buyers from China—708 properties; Romania and Slovakia—671 each; the Netherlands—438; Vietnam—329; and Austria—268.
Russian citizens purchased 185 residential properties in 2024, while Ukrainians purchased 144. The average value of housing purchased by Russians was 83.5 million forints, and by Ukrainians—35.6 million forints.
Thus, the average transaction value for these two groups was significantly below the projected threshold for the new tax, although some wealthy investors may own significantly more expensive properties or multiple types of assets.
The geographic distribution of foreign demand varies noticeably depending on the buyers’ nationality.
Germans primarily purchase homes in the western and southwestern regions of Hungary, particularly in the Somogy and Zala counties, located near Lake Balaton and the borders with Austria and Croatia.
According to data from 2025, foreigners accounted for 11.3% of residential property purchases in both counties. More than two-thirds of these transactions were made by German citizens. Buyers from the Netherlands, Austria, and Switzerland are also active in the local markets.
Citizens of Romania and Slovakia tend to buy real estate in border regions. Chinese, Vietnamese, Israeli, and Russian buyers primarily focus on Budapest.
In the Hungarian capital in 2025, foreign nationals accounted for 5.5% of all homebuyers. In the central districts of Pest—including Districts V, VI, VII, VIII, and IX—their share reached 13.2%.
Chinese citizens were particularly active in central Budapest, accounting for 3.5% of all residential property purchases in these districts. The share of Vietnamese and Israeli citizens was 0.8% each, Turkish citizens 0.7%, Russian citizens 0.6%, and French citizens 0.5%.
These statistics reflect the distribution of new purchases by nationality, not the overall structure of real estate already owned by foreigners.
The proposed wealth tax could have the greatest impact on owners of expensive apartments, commercial real estate, large investment portfolios, and stakes in Hungarian companies.
For most foreign buyers of standard apartments, the new tax—based on the proposed threshold of 1 billion forints—should not create additional obligations, provided that the total value of their taxable Hungarian assets does not exceed the established limit.
The final terms of taxation will depend on the version of the law adopted by the Hungarian Parliament.
According to Relocation, Barcelona authorities intend to significantly increase the tax burden on vacation rental owners. On October 15, 2026, the city council tentatively approved the introduction of additional surcharges on the property tax (IBI) ranging from 50% to 150%, depending on the number of short-term rental licenses held by the owner.
The new measure will affect approximately 10,600 vacation rentals and will mark the next phase of the city government’s policy to reduce short-term rentals. Final approval of the tax changes is scheduled for December 2026. If the decision is adopted, the new rules will take effect on January 1, 2027, and the first additional tax will be assessed on December 31, 2027.
The amount of the surcharge will depend on the number of tourist licenses held by the owner. Owners of a single license will be required to pay 50% more than the current IBI tax. Owners of two or three licenses will face a 100% surcharge, while owners of four or more tourist properties will face a 150% surcharge.
Thus, if the standard annual tax on an apartment is 1,000 euros, after the new rules take effect, an owner with one tourist license will pay 1,500 euros, an owner with two or three licenses will pay 2,000 euros, and an owner with four or more licenses will pay 2,500 euros per year for the respective property.
According to city data, approximately 6,000 tourist apartments—or about 57% of the total—are owned by individuals with four or more licenses. Another 1,200 properties are owned by individuals with two or three licenses, and approximately 3,200 by those with a single license.
City officials expect to generate an additional 7–8 million euros annually through this increased taxation.
Jordi Valls, Barcelona’s deputy mayor for economic affairs, explained the need for the changes by noting that vacation rentals are effectively used for commercial purposes, so their taxation should not be subject to the same conditions as regular residential housing.
The new tax policy is being implemented against the backdrop of a previously adopted decision to gradually phase out short-term apartment rentals in Barcelona. The municipality intends not to renew existing tourist accommodation licenses after they expire in November 2028.
For real estate investors in Barcelona, the new rules mean a reduction in the potential profitability of tourist rentals. The additional costs will particularly affect professional operators who manage multiple apartments. At the same time, the prospect of tourist licenses expiring in 2028 creates additional risks for long-term investment plans.
Owners will have to consider alternative models for using their properties, including long-term rentals, medium-term leases—provided they meet the established requirements—or the sale of the properties.
At the same time, industry representatives are opposing the new restrictions. Apartur, the Barcelona Tourist Apartments Association, has called the tax increase disproportionate and said it creates legal uncertainty for businesses. The organization has stated its readiness to challenge the new rules in court once they are finally adopted.
Barcelona remains one of the largest tourist destinations in Spain and Europe. The massive growth of short-term rentals in recent years has become a source of controversy among property owners, representatives of the tourism industry, and local residents.
