Tag Archives: International Living

Lies, Damned Lies, and Statistics… at FreedomFest

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“Don’t believe everything you’re told by promoters about second citizenship and passports. They may be entertaining and persuasive, but they can get you into some serious trouble. Same goes with anyone who promises that you can somehow hide your offshore holdings from the IRS. You’re asking for a world of trouble (not to mention setting yourself up to be blackmailed). Look, I’ve been in asset and privacy protection business for more than a quarter century. I’ve seen these things come and go. And, from experience with thousands of clients, I can tell you that the only proper way to do this is the legal way.”

http://www.nestmann.com/paraguayan-citizenship-freedomfest/

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Foreign Banks And Brokers Are Refusing Overseas Accounts for American Customers

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“Registration with the SEC and compliance with SEC regulations is a greater burden than foreign banks or brokerages want to bear.  As a result, even long-time, law-abiding Americans have seen their foreign accounts closed.  Americans now seeking to set up overseas accounts with foreign-based institutions are almost always turned away.  It has been a standard development throughout history that any country’s government that made it difficult for its citizens to move assets beyond the borders of the nation descended into totalitarianism.  If it didn’t eventually allow free capital flows, then that government ultimately failed.”

https://www.coinweek.com/bullion-report/foreign-banks-and-brokers-are-refusing-overseas-accounts-for-american-customers/

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Americans Are on a Tight Leash

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“Dealing with the burdens associated with citizenship-based taxation is an unfortunate fact of life for Americans. It is not likely to change in the foreseeable future. In fact, I would bet that the burdens will actually increase as the US government becomes more financially desperate. Which is a significant incentive to act sooner than later… or before it is too late altogether. However unpleasant this reality is, it does not negate the need to internationalize. Quite the contrary. As spending on welfare/warfare related programs continues to rise, it is clear that the US government will sink deeper into fiscal and moral bankruptcy, with political risk increasing in tandem.”

http://www.internationalman.com/78-global-perspectives/967-americans-are-on-a-tight-leash

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Be Prepared When the ATMs Go Dark…

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“Best way to establish a ‘go-to’ fund is by buying gold bars in the largest size you can afford and storing them in your name overseas. Here’s why this is the smartest play: 1) Overseas gold storage is not reportable as long as it is not tied to a foreign bank account. 2)  Buying gold in the largest amount you can afford is more financially sound than buying it in smaller bars or buying fractional gold.  3) In the event that you need to sell your gold to access cash, large banks and precious- metals dealers are more likely to want to purchase large gold allotments rather than several smaller ones. This provides superior liquidity in times of need.”

http://sovereign-investor.com/2013/07/17/be-prepared-when-the-atms-go-dark/

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FATCA, fluctuating exchange rates, and the Expatriation Game

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“It’s like the old British Fox Hunt. Instead of hunting foxes, the world is now hunting U.S. persons. Your objective is to NOT be captured.  The consensus is that, over the long term, the U.S. dollar will depreciate relative to other currencies. This means that it will be worth less relative to other currencies. As the U.S. dollar depreciates, fewer Canadian dollars are required to purchase (what don’t we say $2,000,000) U.S. dollars. This means that the faster the U.S. dollar depreciates, the faster U.S. citizens abroad will become ‘covered expatriates’. Notice that you are NOT doing anything yourself. It’s just that the the U.S. dollar is depreciating.”

http://isaacbrocksociety.ca/2013/07/16/how-fluctuating-exchange-rates-can-make-or-free-americansabroad-from-being-covered-expatriates/

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How to Lose Friends, Citizens and Influence

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“Imagine this: You were born in California, moved to New York for education or work, fell in love, married and had children. Even though you have faithfully paid taxes in New York and haven’t lived in California for 25 years, suppose California law required that you also file your taxes there because you were born there. Though you may never have held a bank account in California, you must report all of your financial holdings to the State of California. Are you a signatory on your spouse’s account? Then you must declare his bank accounts too. Your children must file their taxes in both California and New York and report any bank accounts they or their spouses may have.”

http://online.wsj.com/article/SB10001424127887323848804578607472987119796.html

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Gibraltar tries to lure London hedge fund bosses with promise of low taxes

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“Gibraltar is launching a campaign to persuade hedge funds to ditch their plush Mayfair offices for the low taxes of ‘the Rock’.  Last week hedge fund managers were invited to the peninsula where they were told income tax could be limited to £30,000 a year no matter how many millions they earned. Gibraltar also boasts no VAT and social security payments of just £120 per family a month. In the UK the top rate of income tax is 45%, VAT is 20% and national insurance is levied at 14% of weekly earnings above £797.  Corporation tax on activities undertaken on the rock is levied at 10%, compared with 24% in the UK.”

http://www.guardian.co.uk/world/2013/jun/02/gibraltar-lure-hedge-funds-london

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Switzerland Was Top Offshore Wealth Destination In 2012

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If You Are A Baby Boomer, You Will Go Bankrupt—If You Stay In America

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“If you could get an 87% discount on your health care, would you take it? Or would you deliberately stand pat, pay 100%—and go broke?  The answer is obvious. So if you cannot afford health care in the United States—or realize that, in the not-too-distant future, you won’t be able to afford it—then the smart move if you are living on a fixed income (or will be soon) is to try to look for a place where health care costs are manageable. A place where you can receive your pension or Social Security check or annuity or whatever, and yet not be afraid that you are one medical emergency away from losing your house and all your money.”

http://gonzalolira.blogspot.com/2013/07/if-you-are-baby-boomer-you-will-go.html

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Beauty Offshore: A Caribbean Passport For A Chinese Restaurateur

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“When Zhang Lan decided last year to file for an IPO in Hong Kong for her restaurant group South Beauty, she reorganized her holdings under an entity in the Cayman Islands. However, she didn’t just move her company offshore. She did the same to herself, applying for fast-track citizenship in the Caribbean state of St. Kitts & Nevis (pop. 50,000) under an investment scheme. Three months later a passport was delivered to her office in Beijing. In June 2012 Zhang filed for a share offering in Hong Kong as the foreign principal of South Beauty Investment Co. Ltd., a Cayman-registered company that earns its revenues in mainland China.”

http://www.forbes.com/sites/simonmontlake/2013/07/03/beauty-offshore-a-caribbean-passport-for-a-chinese-restaurateur/

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