Each day we uncover some of the most desirable--and cheapest--retirement havens on earth. In International Living's free daily postcards, you'll learn about retirement, property, taxes, offshore matters, and travel and lifestyle opportunities from around the world.
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Offshore
World’s Fastest-Growing EconomyPosted on April 22, 2013 by International Living
Mongolia is the world’s most sparsely populated country, largely made up of steppe, mountains and a big piece of the Gobi desert. It’s also the world’s fastest-growing economy, thanks to vast underground riches; gold, copper, coal, tin, uranium and tungsten.
How to Spot (and Avoid) Passport FraudPosted on April 22, 2013 by Bob Bauman
A few years ago, I spied some classified advertisements in the late International Herald Tribune and The Economist, promising to provide a “European-Union passport, fully registered and renewable” for only $19,500. A contact telephone number in Ireland was listed. So I rang it.
World’s Highest Tax RatesPosted on March 25, 2013 by International Living
Spare a thought for the citizens of Belgium. Their beer is great and their waffles tasty but they also suffer from the highest effective personal tax rate in the world. That’s according to a survey by KPMG. The auditing firm looked at income tax rates and other deductions like social security to calculate their results.
- Protect Your Privacy When you Store Gold this Way
Posted on March 25, 2013 by Bob Bauman
Elderly Americans may long ago have heard the quaint expression “sound as a dollar.” It was a prideful phrase that referred to the strength of the American currency, and you certainly don’t hear it any more. The sound dollar began disappearing with Woodrow Wilson and the 1912 Federal Reserve Act.
- The Offshore Insider
Posted on March 25, 2013 by Robert Bauman
Mr. Bauman is a former member of the United States House of Representatives from Maryland (1973-1981). He is also a former federal official and state legislator; member of the Washington, D.C., Bar; graduate of the Georgetown University Law Center (1964) and the GU School of Foreign Service (1959). Mr. Bauman serves as legal counsel to International Living. He’s also one of the world’s foremost offshore experts. Here are some of his recent articles:
How to Collect Your Second PassportPosted on March 8, 2013 by Bob Bauman
What’s your reason for not already having a second passport? Too much effort? You don’t travel often enough? You’re happy with your home country, and the government representing it? You don’t need access to some of the world’s hottest capital markets? All good reasons, to be sure.
What FATCA Means for Owning Foreign PropertyPosted on February 25, 2013 by Nick Hodges
You’ve found your perfect retirement paradise overseas and your attorney has recommended that you establish a foreign corporation and have it own the property for you. You’ve looked at the legal side of this and it makes a lot of sense. However, as the Foreign Account Tax Compliance Act (FATCA) regulations take effect, you have additional tax and reporting issues to consider.
Is It Time to “Re-Flag” Yourself?Posted on January 24, 2013 by Robert Bauman
More than two decades ago, an interesting character with the nom de plume, “Bill Hill” wrote a popular escape manual for freedom advocates titled “PT—The Perpetual Traveler.” Hill outlined his PT ideas with a five point plan “…for those,” he said, “with courage enough to pursue freedom.” He memorably illustrated his plan with something he called The Five Flags of Freedom.
More Options than Ever—Residence Visas in PanamaPosted on January 24, 2013 by Rainelda Mata-Kelly
There are thousands of expats living in Panama: Americans, Canadians, Europeans, and many more from around the globe, who come here for the beautiful weather, the tropical beaches, low cost of living, and because Panama makes it easy to start a business.
Applying for a Panama VisaPosted on January 24, 2013 by Robert Carry
One of the most appealing things about Panama is how welcoming it is towards expats. The Panamanian government has rolled out a range of different visa options and for pensioners, a vast range of discounts and benefits under the country’s famed Pensionado program await.
Revealed: The 3 Most Popular Offshore HavensPosted on January 22, 2013 by Erika Nolan
In the last 10 years in the U.S. things have changed dramatically. There’s higher debt, higher unemployment, and a bigger government than ever before. The offshore world can bring back the choice, the opportunity, and the freedoms that used to be the norm in the U.S.
It’s Easy – Overseas Real Estate in Your IRAPosted on January 22, 2013 by Nick Hodges
We recently asked Nick a series of questions that IL readers have wondered about, including “Can I own real estate overseas in my IRA?” and “What else can I own in my IRA? Costa Rican farms? Boat slips?” and “Can I hold a mortgage in my IRA?”
Why “Offshore” Shouldn’t be a Dirty WordPosted on January 21, 2013 by Len Galvin
But if, by contrast, you’re interested in ways you can go abroad and not only increase your quality of life by living better for less… but perhaps also protect your savings, grow your nest egg, and build a legacy for your children and their children… then read on. There are benefits of having a foothold abroad—advantages beyond the obvious ones like lower costs, a higher quality of life, and the prospect of real adventure.
Foreign Bank Accounts (and More) in the “New Switzerland”Posted on January 2, 2013 by Robert Bauman
In 2005, Singapore began adopting laws patterned after Switzerland’s. Laws that tightened its bank secrecy. But unlike land-locked Switzerland, Singapore sits at the center of Asia’s booming demand for raw materials, close to many key physical markets. It also beats Switzerland on taxes. Official corporate tax rates in Singapore have fallen by 3% to 17% over the past five years…
What FATCA Means for Your Foreign Bank AccountsPosted on December 20, 2012 by Nick Hodges
U.S. tax laws are changing. In fact, they’re changing even as they’re being implemented—and if you’re confused, you aren’t alone. There’s a lot of false information making the rounds about the HIRE Act and FATCA—the Foreign Account Tax Compliance Act.
Singapore: Swiss-Style Privacy with Palm TreesPosted on November 26, 2012 by Robert Bauman
The last five years has seen a rush of foreign bankers to the island city-state of Singapore. Swiss Banks such as Julius Baer have expanded their operations to capitalize on new business opportunities there. And earlier this year the world’s number-three commodities trader, Trafigura, shifted its trading center from Switzerland to Singapore.
8 Countries That Take Your Bank Privacy SeriouslyPosted on November 21, 2012 by Bob Bauman
Down through history, whenever a major war or other calamity has threatened, ever-greater hoards of foreign cash have flowed into Swiss bank accounts because the world knows Switzerland traditionally stands for safety.
How to Get a Second Passport… and Other Offshore SecretsPosted on November 21, 2012 by Suzan Haskins
Did you know that if you have Irish ancestors you may be eligible to obtain an Irish passport? It’s true…and it’s pretty easy to do. And that Irish passport can open lots of doors for you… For instance, you can get a job anywhere in the European Union… You can easily open a bank account somewhere like Switzerland… As an Irish passport holder, you can travel more safely to some countries of the world…
The Fall of America?Posted on November 5, 2012 by Bob Bauman
The 2012 Economic Freedom of the World report was released recently by the Cato Institute and Canada’s Fraser Institute. In just a few years, the U.S. has fallen from No. 3 in 2000 (behind the city-states of Hong Kong and Singapore) to No. 8 in 2005 and now has plummeted to 18th place, trailing such countries as Estonia, Taiwan, and Qatar.
Where to Find Offshore Bankers Friendly to AmericansPosted on October 22, 2012 by Bob Bauman
Down through history, whenever a major war or other calamity has threatened, ever-greater hoards of foreign cash have flowed into Swiss bank accounts because the world knows Switzerland traditionally stands for safety.
- The Offshore Insider
Posted on October 22, 2012 by International Living
Mr. Bauman is a former member of the United States House of Representatives from Maryland (1973-1981). He is also a former federal official and state legislator; member of the Washington, D.C., Bar; graduate of the Georgetown University Law Center (1964) and the GU School of Foreign Service (1959). Mr. Bauman serves as legal counsel to International Living. He’s also one of the world’s foremost offshore experts. Here are some of his recent articles:
- HIRE Act Withholdings—The True Story
Posted on September 27, 2012 by Matthew Apodaca CPA
Is the 30% Federal withholding tax associated with the HIRE Act going to affect you if you have funds in an account overseas? Short answer: No.
Irish Citizenship for Sale AgainPosted on September 10, 2012 by Robert Bauman
The Irish government is offering special residence visas to foreign individuals willing to invest in the country. This new program began on April 15, 2012, and if you make the investment, it can lead to full citizenship. Irish citizenship opens the door to full personal and commercial access to all 27 countries in the European Union.
IL Radio Episode 35: Getting Residency in Panama the Easy WayPosted on September 7, 2012 by Dan Prescher
Panama is a perennial favorite among expats looking for a better life abroad, and achieving Panamanian residency just got a lot easier. A new visa program began in June that not only cuts the cost, but also cuts the time it takes to get Panamanian residency. Panama attorney and legal expert Rainelda Mata-Kelly has already helped clients start this process.
Your EU Entry—Irish Citizenship for Sale AgainPosted on August 24, 2012 by Robert Bauman
The government of the Republic of Ireland is desperately trying to rebuild the country’s shattered national economy and bolster financial markets after one of the largest banking collapses in history. Perhaps as a mark of that official desperation—or of politicians’ universal urge to “do something” in a crisis—the Irish government is offering special residence visas to foreign individuals willing to invest in the country.
Securing an Irish Passport Through Your AncestorsPosted on August 24, 2012 by Robert Bauman
Many millions of Irish have emigrated to the U.S., beginning well before America’s Revolutionary War. In 1776, eight Irish-Americans signed the U.S. Declaration of Independence, and 22 U.S. presidents, from Andrew Jackson to Barack Obama (who knew?) were at least partly of Irish ancestry.
Panama’s New Fast-Track VisaPosted on August 13, 2012 by Robert Bauman
Panama has long had “open door” immigration policies that welcome foreigners. For instance, it has the best program of special benefits for foreign retirees and their families you’ll find anywhere in the world today—the pensionado, or pensioner, visa. But for non-pensioners, most of Panama’s other residency programs required substantial investments…until now.
What Panama’s New Fast-Track Visa Means for YouPosted on July 26, 2012 by Robert Bauman
Panama has long had “open door” immigration policies that welcome foreigners. For instance, it has the best program of special benefits for foreign retirees and their families you’ll find anywhere in the world today— the pensionado, or pensioner, visa (see sidebar below).
Warning: Don’t Buy These Second PassportsPosted on July 5, 2012 by Mark Nestmann
For U.S. citizens, a second passport has another benefit: It’s an essential prerequisite to expatriation—that is, giving up your U.S. citizenship in order to permanently disconnect from the U.S. taxing authority. However, despite what you may read on the Internet, getting a second passport isn’t like ordering a DVD on Netflix.
Five Ways to Avoid these “Second Passport” ScamsPosted on June 28, 2012 by Mark Nestmann
Having a second passport and dual citizenship has a lot of benefits. It can expand your travel possibilities, increase your safety, give you the right to reside in other countries, and give you a way to cross international borders if your primary passport is lost or stolen.
Privacy and Freedom in UruguayPosted on June 25, 2012 by Robert Bauman
Plenty of U.S. expats live in Uruguay. I can see why. The laws and the government welcome foreigners as immediate residents and citizenship can follow after three to five years. The seven licensed banks welcome Americans as clients, hold more than half of their cash in dollars or euros, pay more interest than U.S. banks and enforce strict financial privacy that only a court can waive.
- Exit Strategy: Save Big When You Leave from a “No-Tax State”
Posted on May 28, 2012 by Nick Hodges
Many people are surprised to learn that one of their biggest tax-planning decisions when it comes to living overseas has to do with where they live before they go. It’s one of the most overlooked aspects of tax planning. Put simply, there are states that are “no-income tax” states. If you move overseas from one of these, then you’ll pay no state income tax.
Should The I.R.S. Have the Right to Seize Your Passport and Prohibit Your Travel Plans? Vote HerePosted on May 11, 2012 by International Living
A worrying new bill just passed the Senate on March 14, 2012. It’s called the “Moving Ahead for Progress in the 21st Century Act.” (MAP-21). And it could give the I.R.S. the power to take your passport and prevent you from traveling outside the U.S. if they claim you owe money on your taxes…
IL Radio Episode 32: Panama—Your Residency and Visa Issues AnsweredPosted on May 10, 2012 by Dan Prescher
When you talk about Panama, you’ll often find that you’re talking about all the things that make a place a tropical paradise. Panama is hugely popular with U.S. and Canadian expats, and for good reasons. But like any place else, having experienced legal help on your side is critical, even in Paradise.
One Way to Get Immediate Residency in PanamaPosted on May 9, 2012 by Robert Bauman
The Panamanian side of the Darién is dominated by deep valleys, rivers and a 6,000-foot-high mountain peak. You won’t find much else here. Starbucks hasn’t made it, and there’s no Home Depot. This is frontier country. But you will find an open door to immediate residency in Panama, along with a chance for profitable investing.
How to Get Immediate Residency in PanamaPosted on April 25, 2012 by Robert Bauman
Since my first visit to Panama in the 1970s I’ve returned countless times and visited every part of the isthmus except one—the Darién Gap, a large swath of swamp, jungle and forest, 99 miles long and 31 miles wide, that separates Panama’s Darién Province from the Republic of Colombia.
Uruguay Meets High Expectations of Privacy and FreedomPosted on March 27, 2012 by Robert Bauman
A recent poll on government revealed that more than half the population of Uruguay feels that the country is being run “for the good of all the people.” You can guess how most Americans would answer that question…
Three Places Where You Can Buy a Second PassportPosted on March 12, 2012 by Robert Bauman
There are good reasons for obtaining a second passport; expansion of travel possibilities; concealment of nationality for safety reasons; exercising the right to reside in another country; opening offshore bank and other financial accounts; easier crossings of international borders when a primary passport is lost or stolen.
Belize: No Taxes in This Caribbean ParadisePosted on March 9, 2012 by Robert Bauman
In Belize, more than 40% of the country is protected as national parks, wildlife sanctuaries and marine reserves. But this lush ecological paradise is not just a haven for wildlife. Belize encourages offshore business and welcomes foreigners as local residents, too. In fact, if you’re looking into your residency options, Belize should be high on your list.
Second Passports—3 Places You Can Buy OnePosted on February 21, 2012 by Robert Bauman
Now and again when an American (or any other national) grumbles about the sad state of affairs in their home country they may hear a sharp response: “If you don’t like it here, go find another country.”
