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.
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.
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.
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.
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.
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 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.
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.
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).
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.
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.
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…
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.
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.”
As a lawyer for many decades now, I know how important it is to read and understand what you read. I also know from experience that Americans have been bombarded for years by class warfare politicians attacking wealthy people as if success in life was a crime.
Somewhere far out in the South Pacific lies a network of near-perfect castaway islands. Fifteen in all, their beaches are of white-powdered sands, the waters aquamarine and turquoise, and the climate ideal. From the shores of palm-fringed lagoons rise soaring volcanic peaks clad in lush green jungle.
A safe deposit box is just a lockable metal box or drawer, inside a bank or private vault, which is used for safely storing your valuables. And the annual rent for a safe deposit box can be as little as $500. On a traditional safe deposit box there are two different keys, both of which must be used to open the box. One key (usually two copies of it) is given to you as the box renter.
These islands are an independent country joined in “free association” with New Zealand. It has its own government and court system, the New Zealand dollar is the local currency, and it definitely qualifies as what used to be called a “tax haven,” now replaced by the politically correct term “offshore financial center.” Fifteen in all, their beaches are of white-powdered sands, the waters aquamarine and turquoise, and the climate ideal.
Somewhere far out in the South Pacific lies a network of near-perfect castaway islands. Fifteen in all, their beaches are of white-powdered sands, the waters aquamarine and turquoise, and the climate ideal. From the shores of palm-fringed lagoons rise soaring volcanic peaks clad in lush green jungle.
In your October issue, Lee revealed all his good reasons for choosing this “Europe of South America” and explained why you should consider following his example. But there’s even more to this fascinating, lesser-known country. If you’re looking for an environment where your money is safe, you and your family can feel secure, and taxes are low, this country should be on your short list.
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