Tag Archives: Latin America

Uruguay becomes first country to legalize marijuana trade

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“Uruguay became the first country to legalize the growing, sale and smoking of marijuana on Tuesday, a pioneering social experiment that will be closely watched by other nations debating drug liberalization.  A government-sponsored bill approved by 16-13 votes in the Senate provides for regulation of the cultivation, distribution and consumption of marijuana and is aimed at wresting the business from criminals in the small South American nation. Cannabis consumers will be able to buy a maximum of 40 grams (1.4 ounces) each month from licensed pharmacies as long as they are Uruguayan residents over the age of 18 and registered on a government database that will monitor their monthly purchases.”

http://www.reuters.com/article/2013/12/11/us-uruguay-marijuana-vote-idUSBRE9BA01520131211

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Ahead of the Herd—Nicaragua’s Enormous Potential

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“When I embarked on my journey I would never have guessed Nicaragua is where I would have ended up. Here I sit, writing, with the soothing sound of the waves on the beautiful beach of San Juan del Sur just outside of my balcony.  Nicaragua is the second safest country in all of Central America, behind only Costa Rica. Nicaraguans are kind and hospitable people. Walking down the street during the day or night, I am always greeted with a friendly ‘hola’ or ‘buenos dias’ from people walking past. I have never felt threatened or in danger in all the time I have been here.  Guatemala may be the only country that comes close to the low cost of living a person can enjoy in Nicaragua.”

http://www.internationalman.com/78-global-perspectives/1058-ahead-of-the-herd-nicaraguas-enormous-potential

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The Easiest Country to Obtain Residency: Panama

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“A law was passed in 2012 (Executive Order 343) to encourage certain foreign citizens to come to Panama.  This program is often referred to as the ‘Specific Countries’ or ‘Friendly Countries’ program.  Eligible countries include the USA, Canada, and many European countries. It requires one simple application and a deposit of at least $5,000 USD in a local bank account, plus an additional sum of $2,000 USD for each dependent.  Applicants will also have to show proof of some meaningful economic activity in Panama.  Incorporating a new LLC in Panama in order to qualify is not particularly difficult or expensive.  You become eligible to obtain full citizenship and a Panamanian passport after five years.”

https://www.internationalman.com/78-global-perspectives/1053-the-easiest-country-to-obtain-residency-panama

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Argentina Raises Tax on Foreign Credit Card Purchases to 35%

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“President Cristina Fernandez de Kirchner’s government is raising taxes on credit card purchases abroad in a bid to stem the drop in Argentina’s international reserves to their lowest levels since December 2006.  The government raised the the tax charged on credit card purchases in foreign currency to 35 percent from 20 percent, according to the Official Gazette.  Argentina’s dollar reserves have plunged 29 percent this year to $30.9 billion as the government uses the funds to pay international debt and import energy, while Argentines take advantage of a strong official rate for the peso to spend abroad.  The official rate is 6.2 pesos, while the black market rate is 9.2.”

http://www.bloomberg.com/news/2013-12-03/argentina-raises-tax-on-foreign-credit-card-purchases-to-35-.html

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Volkswagen Ends Microbus Production Due To New Safety Regulations

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“Commonly associated with hippies, the lifespan of the Microbus was 63 years. For several decades, Brazil specialized in making the boxy vehicle, however the design element, which gave the van the classic shape, put the driver ahead of the front axle.  And that is now a major problem, as the country recently outlined new safety requirements which will be put into effect next year. Sadly, the Microbus can’t be modified to meet the new rules.  The proper term for the Microbus is the Kombi or Type 2 model, but it also received some nicknames over time. It was called the Minibus, Hippiemobile, VW bus, Weekender and camper.”

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Startup Cities To Become Reality

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“The first zones, called ZEDE, are going to be in Honduras. And yes, that is zones, plural. The legislation that has been passed in Honduras makes creating a zone incredibly easy. In an upcoming update, I will publish the laws and add some commentary – but creating a zone is going to be far easier than almost anyone imagined. Barriers to entry will be low so that competition is high. We are not out of the woods yet. Things could still go wrong, either due to internal politics in Honduras or due to outside pressure. This will continue to be true even after the first zones are set up. But at this point I am confident that the odds are in our favor. Primarily due to the genius of one man.”

http://edanyago.me/2013/11/30/startup-cities-to-become-reality/

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Cayman Islands, Costa Rica agree to share bank account details with US

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“The FATCA agreement with the Cayman Islands was initially agreed to in August. The island territory of 53,000 people has no income tax and is frequently labelled as a tax haven by critics. It is one of the world’s most popular destinations for investment funds to organise for tax purposes.  Costa Rica was one of three Central American countries the Organisation for Economic Development and Co-operation (OECD) has tagged as a tax haven. Panama and Belize were the other two. Significantly, the Costa Rica deal is reciprocal, meaning the Costa Rican government can get tax information about its citizens with assets in the United States.”

http://www.theguardian.com/world/2013/nov/29/cayman-costa-rica-us-tax

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Pay in Bitcoin for a Plot in Chilean Libertarian Paradise

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“The land is home to abundant supply of fresh clean water, sourced from over fifty wells, two underground aquifers, canals, two rivers, a manmade lake and a number of natural springs.  Ken Johnson, managing partner of the Galt’s Gulch Chile project, said: ‘We chose Chile for its economic freedoms, as well as its freedom in general.’ There is a 250-acre farm on the recently purchased land, which is being subdivided into five 25-acre lemon orchards and a 125-acre Galt’s Gulch Organic Farm. The community will use the farm to grow pesticide-free and non-GMO vegetables, fruits, nuts and spices, which will be sold worldwide under the brand Galt’s Gulch Organics.”

http://www.coindesk.com/bitcoin-chilean-libertarian-paradise/

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UN Drug Bureaucrats Fret About Uruguay’s Marijuana Legalization

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“Uruguay is blowing off the International Narcotics Control Board (INCB) as it prepares to become the first country to legalize marijuana commerce, and the INCB is ‘concerned.’ The South American nation failed to send a delegation to Vienna to listen to the INCB complain about its plans. The INCB is also ‘very concerned that the draft legislation currently being considered in Uruguay would, if adopted, legalize production, sale and consumption of cannabis for recreational purposes.’  Uruguay’s marijuana legalization bill, backed by President Jose Mujica, has already passed the lower house of parliament and is set for a vote soon in the upper house.”

http://stopthedrugwar.org/chronicle/2013/nov/19/un_drug_bureaucrats_fret_about_u

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Venezuela’s Central Bank to Trade Gold with Goldman Sachs

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“Venezuela’s Central Bank and Goldman Sachs are ready to sign an agreement to swap or exchange international gold reserves, with a start date in October, as stated in the contract, and until October 2020.  The negotiated amount, equivalent to 1.45 million ounces of gold, are deposited in the Bank of England and the transfers are made directly to Goldman Sachs once delivery times are stipulated.  The operation involves the delivery of gold from the central bank, which will receive dollars from the U.S. firm. Economist Jose Guerra explains that this operation is being undertaken because of the fall in international reserves, on Nov. 15 totaled $20.6 billion, a loss of $9.9 billion in 11 months.”

http://www.gata.org/node/13264

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