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.
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.
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.
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?"
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.
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...
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.
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.
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.