Millionaires are not fleeing countries to escape taxes. The Tax Justice Network has analysed these claims and found it's questionable data published by a firm that helps the super-rich buy their way out of rules that apply to everybody else. In fact, things are changing for people in the business of helping to sell passports and residency. Some doors are closing... Plus, we look at the latest results from the Financial Secrecy Index - what are the latest global trends and have you heard of an anocracy?!
Transcript of the show: https://podcasts.taxjustice.net/wp-content/uploads/2025/06/June-2025-Taxcast-script_-millionaire-exodus-myth.pdf
Further reading:
Millionaire exodus did not occur, study reveals, Tax Justice Network https://taxjustice.net/press/millionaire-exodus-did-not-occur-study-reveals/
Millionaire “exodus” claim backtracked but media re-run story anyway, Tax Justice Network https://taxjustice.net/press/millionaire-exodus-claim-backtracked-but-media-re-run-story-anyway/
The ‘Millionaire Exodus’ the UK Media Told You About Never Actually Happened, Byline Times https://bylinetimes.com/2025/06/10/the-millionaire-exodus-the-uk-media-told-you-about-never-actually-happened/
Citizenship must not be up for sale, speech by the Vice-President of the European Commission, EU Justice Commissioner https://ec.europa.eu/commission/presscorner/detail/en/SPEECH_14_18
EU Court Rules Malta's Golden Passport Program is Illegal, OCCRP https://www.occrp.org/en/news/eu-court-rules-maltas-golden-passport-program-is-illegal
Influencer Andrew Tate got Vanuatu Passport Around Time of Arrest on Rape Charges https://www.occrp.org/en/news/exclusive-alleged-rapist-influencer-andrew-tate-got-vanuatu-passport-around-time-of-2022-arrest
Vanuatu: Council of the EU ends visa exemption https://www.consilium.europa.eu/en/press/press-releases/2024/12/12/vanuatu-council-ends-visa-exemption/
Logged Pushbacks to Libya from Malta’s SAR Zone Triple Since 2020, Over 5,000 People Forced Back https://www.amphora.media/2025/06/logged-pushbacks-to-libya-from-maltas-sar-zone-triple-since-2020-over-5000-people-forced-back
Malta Migration Archive https://maltamigrationarchive.org/
Times of Malta Editorial: A shameful abdication of duty https://timesofmalta.com/article/editorial-a-shameful-abdication-duty.1107005
£160 billion could have been raised for the UK’s public finances over the past three decades if UK tax residents on the annual rich lists had been asked to pay a two per cent wealth tax on their assets over £10 million - equivalent to the cost of building 80 new hospitals in that period. (Patriotic Millionaires UK) https://patrioticmillionaires.uk/latest-news/special-report-on-the-sunday-times-rich-list-the-missing-billions?mc_cid=2f5977ff81
Family statement: Robert Agius and Jamie Vella sentenced. Despite her murderers' attempts to silence her, Daphne's legacy endures. (Daphne Caruana Galizia Foundation) https://www.daphne.foundation/en/2025/06/10/sentence-complicity
Vanuatu, Financial Secrecy Index country profile, Tax Justice Network https://fsi.taxjustice.net/country-detail/#jurisdiction_id=VU&scoring_id=268
Reporting from the Passport Papers, Daphne Caruana Galizia Foundation https://www.daphne.foundation/passport-papers/
Passport Papers: Henley and Partners’ leaked documents show most applicants are from countries where dual citizenship is not permitted https://theshiftnews.com/2021/04/22/passport-papers-henley-and-partners-leaked-documents-show-most-applicants-are-from-countries-where-dual-citizenship-is-not-permitted/
The Passport King who Markets Citizenship for Cash, a Daphne Project investigation, OCCRP https://www.occrp.org/en/project/the-daphne-project/the-passport-king-who-markets-citizenship-for-cash
Why rich foreigners may not rush to buy Trump's $5 million 'gold card' visas, Business Insider https://www.businessinsider.com/trump-gold-card-visa-demand-rich-immigrants-green-card-lutnick-2025-5
The Taxcast website with all the Tax Justice Network podcasts in five different languages are available at https://podcasts.taxjustice.net/