The light streams through my window as the birds wake me with their joyful morning chorus. Last night I was lulled to sleep by chirping crickets and the sound of the nearby stream. I peek my head out the window to see fluffy clouds dispersing, revealing another beautiful day in paradise. After getting ready, I grab a notebook and pen and head out the door. The neighborhood fruit vendor senses my morning hunger as I approach his stand. He cracks open an enormous papaya and perfectly ripe mango, and serves me the most delicious fruit salad for just $1.75. "Enjoy," he says smiling.
The 24-hour media machine fuels this “fear of elsewhere.” Footage of revolutions in the streets and masked gunmen stalking the jungle makes for good TV. Footage of people peacefully and cheerfully going to the market, relaxing on their porch of an evening, and doing the sorts of things normal daily life brings, well, that’s not going to attract the TV news crews, is it?
Contrary to popular belief, you don't have to have bags of cash to open an offshore bank account. Even if you invest a few thousand dollars in a non-U.S. bank, you can still avail of several key benefits of offshore banking. Benefits like...
First, let's set the scene: Common legal grounds enabling someone to acquire a second passport include marriage to a foreign citizen or birth in a foreign nation. In some countries like Ireland and Greece blood ancestry is a basis. Then there's formal naturalization, meaning you apply and qualify for citizenship status.
“I go into my kitchen and look out over my pool to the ocean. I can see all the way to the mountains in neighboring Costa Rica. On my terrace are beautiful potted plants including orchids hanging from coconut trees. I feel blessed,” says Lawrence. Lawrence and Jeanne were living a high-powered life in the Big Apple, working and raising three children.
I stumbled upon the Italian town of Biassa quite by accident while looking for rooms to rent in the famed cinque Terre— five pastel-colored towns built along the cliffs of Liguria—and I knew right away that the town would be perfect. While I love Italy in the summertime, full of laughter, sunshine, and gelato, I also crave peace and quiet, to get away from the crowds and experience something authentic, something all my own.
One of my favorite scam stories is of the German lady living in Paraguay. Claudia Bettina Muller was arrested last year for printing fake passports in her basement. Police found printing and engraving machines, along with boxes of blank passports and counterfeit government forms. But before I had ever heard of Claudia Bettina Muller or the Paraguayan police caught up with her, I had heard of this scam. I had come across a speaker at an event in Nevada who claimed he could get anyone in the attentive audience a Paraguayan passport in as little as a month. This was possible he maintained, because he had high-level government contacts. The cost was only $45,000. (That's half of what any of the second citizenship programs I work with charge.) Right then, as he spoke, I knew it was a scam.
Why take your assets offshore with an international structure? Simple. It can make your assets virtually invulnerable to civil judgments. It can also protect you from risks such as civil forfeiture, exchange controls, repressive legislation, or political instability. It's more difficult for creditors to collect against international assets. No country automatically enforces U.S. civil judgments. Many countries don't enforce them at all. If you live in the States, a U.S. court can order you to repatriate your international assets. But if you've set up your structure properly, you won't have the power to bring the funds back. And that's a fantastic incentive for a creditor to settle the lawsuit.
I turn off the Pan-American Highway and start up a gentle slope. Well-maintained and brightly-painted homes with gardens full of vivid blue hydrangeas line the fences on either side of the roadway. Mango trees, heavy with almost glowing green and red fruit, loom above. Ten minutes later I’m in the heart of the village. There is a picturesque little white church with a tidy park in front. Children in pressed uniforms file out of their classrooms at the school down the road. Passers-by hail me with a hearty Buenas Tardes as they walk by. I’m in Miramar, a small town in the hills about an hour west of the country’s capital San José. It’s just a 10-minute drive from the Pacific coast. That must be why the garlic seafood dish I ordered at an open-air restaurant in the center of town tasted so fresh…and was just $6.50 for a heaping plate of clams, calamari, fish, and shrimp, with sides of salad and French fries.
In 1986, I walked into the main Credit Suisse branch in Chicago and told the doorman I wanted to open a Swiss bank account. I was led to a private office overlooking the Chicago skyline and was asked for my minimum deposit. Being just 31 at the time, I played it conservative and started with just $2,000 (about $4,300 in today's dollars). I was asked to fill out a one-page form and provide a copy of my driver's license. I gave him a check and away I went. It took all of 20 minutes. In 1986, "offshore" was still exotic. It was something regular people didn't really do. How things have changed in 29 years.