Tag Archives: International Living

“Cruel and Unusual” Is the Only Way to Describe It

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“Consider the case of Mary Estelle Curran, a 79-year-old widow who faced six years in prison and over $20 million in fines. Curran inherited a number of offshore accounts worth around $40 million from her husband after he passed away and was allegedly unaware of how to properly file the required FBAR forms.  I don’t know how any decent human being could look at themselves in the mirror again after helping to put away an old widow—or anyone for that matter—for a make-believe ‘crime’ like not filing an FBAR. If throwing an elderly widow in a cage for six years for not properly filling out a government form is not cruel and unusual punishment, then the phrase has no meaning.”

http://www.internationalman.com/articles/cruel-and-unusual-is-the-only-way-to-describe-it

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Move to Puerto Rico and Pay Zero Capital Gains Tax

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“You can jettison ALL United States tax on interest, dividends, and capital gains. This is possible because Puerto Rico, while a commonwealth of the United States, is treated as separate for tax purposes. By moving to PR, you can opt out of the Federal tax system and in to the PR tax program. Retired? Puerto Rico does not tax social security or unemployment income.  Capital assets (such as land, stocks, bonds, etc.) acquired after moving to PR are tax free. As for property acquired prior to becoming a resident, special provisions can result in a 10% long term rate from the day you qualify and a 5% tax rate applies to property acquired prior to becoming a resident and held for at least 10 years.”

http://premieroffshore.com/move-puerto-rico-pay-zero-capital-gains-tax/

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“Why I Set Up an Offshore Company”

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“If you deal mainly with physical products that stay within UK borders, then it’s probably not what you want. If you export or if you deal with intangible services then it might fit the bill.  Once you decide an offshore company is for you, start researching a formations company to use. Ask around in some online forums as there are plenty of people out there that have had good and bad experiences and who are more than willing to give pointers. A point of massive importance is the actual jurisdiction that you decide to incorporate within — all have their own rules and nuances, so read about them carefully and find the one that best suits what you want to do.”

http://www.internationalman.com/articles/e2-80-9cwhy-i-set-up-an-offshore-company-e2-80-9d

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How I Renounced My US Citizenship and Why, Part II

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“One very critical point to understand is that you should NEVER state that you are expatriating to avoid taxes. It could end up complicating matters if you ever intend to return to the US.  If your dossier with the US government states that you renounced for tax purposes, that information should be assumed to be readily available to any number of agencies—including those dealing with visas and immigration.  Although the authority to exclude a person from re-entering US on that basis is of questionable validity, and formal regulations on this have never even been proposed, State Department guidance to overseas posts does explicitly state this as a reason to reject a visa application.”

http://www.internationalman.com/articles/how-i-renounced-my-us-citizenship-and-why,-part-ii

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Terry Coxon on US Dysfunction and the International Trust Solution

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“It has protective power because it conforms to the laws of the jurisdiction you’ve chosen, not the laws of your residence. Also, an International Trust can be perpetual, making it a great vehicle for estate planning. Without the protection of an International Trust, you could lose so much – maybe everything – to an aggressive lawsuit, a willful judge, or a debt-ridden government agency. An International Trust assures your freedom to invest anywhere, no matter what investment restrictions the US might adopt. Currency controls in the US? They can’t touch your International Trust – it’s not in the US. Limitations on capital leaving the country? Your capital already left.”

http://www.thedailybell.com/exclusive-interviews/35228/Anthony-Wile-Terry-Coxon-on-US-Dysfunction-and-the-International-Trust-Solution/

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St Lucia considers economic citizenship to boost investment

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“Describing the current economic climate as ‘severe, debilitating and oppressive’ Prime Minister Kenny Anthony, who is preparing to present the 2014/15 national budget said St Lucia may well have to look at initiatives that it once ‘frowned upon’.  Anthony said some Caribbean countries are granting economic citizenship to persons out of Asia, but once that happens those persons are ending up in St Lucia and establishing themselves on the island.  Other countries in the region, including Dominica, St.Kitts Nevis and Antigua Barbuda have launched their citizenship by investment programmes, which grants citizenship of a country to individuals who invest money to a country’s development.”

http://dominicavibes.dm/st-lucia-considers-economic-citizenship-to-boost-investment/

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Peter Schiff Goes to Puerto Rico

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“Once I officially move to Puerto Rico, then I can get tax-free dividends on Puerto Rican-sourced income, which would include my business that has moved to Puerto Rico.  I can also make investments in the stock market and enjoy zero capital gains tax. Once I move to Puerto Rico, I can trade IBM as often as I want, and no matter how much money I make, I pay zero capital gain taxes in Puerto Rico, and I pay zero capital gain taxes in the United States.  So pretty much anything that you can do via the Internet, via the telephone, if you do it from Puerto Rico, you’re going to hardly pay any income tax, which is kind of the way it used to be in America.”

http://www.internationalman.com/articles/peter-schiff-goes-to-puerto-rico

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Taxation and Trading on Foreign Markets

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“Today, tax withheld at source is pretty much a universal practice enforced by foreign governments against interest and dividend income earned by non-resident investors. For example, a Canadian resident who earns a dividend on a security purchased on a German exchange will be subject to withholding tax levied by the German equivalent of the CRA in Canada (or the IRS in the US).  In our example, the Canadian resident will also be required to declare the foreign earned interest and/or dividend income and pay tax to the Canadian government. This places the investor in the inequitable position of two jurisdictions levying tax on the same income.”

http://www.internationalman.com/articles/taxation-and-trading-on-foreign-markets

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Why might you be denied entry to the US?

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“As [Nigella Lawson’s] case demonstrates, the rules are liable to change. Weeks after her confession, she flew into America on New Year’s Day to film a live interview promoting the second series of The Taste USA. So those will a criminal history who had no problem getting in once, may fail to do so on other occasions.  There have also been dozens of incidents where travellers have been denied entry or even taken into custody for more unusual reasons than Nigella.  Other celebrities to have been prevented from entering the US for bad behaviour include Lily Allen, Pete Doherty, Amy Winehouse, footballer Jermaine Pennant and Boy George.”

http://www.smh.com.au/travel/travel-news/what-gets-you-rejected-by-the-us-20140407-367s1.html

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Doug Casey on the Debasement of Money, Language and Banking

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“I actually just managed to put a little bit of money into a stock trading on the Mongolian stock exchange that is investing in North Korea that makes sense to me. There are always anomalies out there; there are always speculations. My cattle herd here in Argentina keeps growing, and cattle are a truly great investment now – especially here. Next week, I’m flying to Albania to scope out what might be a major oil deal. Perhaps a mania will develop in the companies that are legally growing marijuana in Canada, a space where I recently made an investment. I’m getting involved in a private deal, to export jade from Guatemala to China.”

http://www.thedailybell.com/exclusive-interviews/35182/Anthony-Wile-Doug-Casey-on-the-Continuing-Debasement-of-Money-Language-and-Banking-in-the-Modern-Age/

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