July 16, 2010
Copenhagen, Denmark
I’m back in Copenhagen today in the middle of a heat wave! This city definitely has a lot to offer potential expats, and I’m going to publish a short article about it on Monday assuming I don’t dismember myself during tomorrow’s parkour training.
On to this week’s questions:
First, Chris asks, “Simon, the new Going Global report sounds very interesting, but can you comment on to what extent the report is targeted at US citizens vs citizens of other countries? I very much enjoy your newsletter– keep up the great work!”
Thank you! Going Global is a new multiple flags overview that has just recently been published by Casey Research. I had a very strong hand in writing and shaping this report, and I can tell you that I wrote my sections for a global audience.
My understanding is that their final, edited product is addressed and marketed towards US citizens, but I believe that anyone in the world, regardless of nationality, will get a lot of value from the information presented in this text.
We covered things like how to find and assess foreign banks, who to contact for certain foreign trust and corporate structures, what to consider when buying foreign property, details of various citizenship programs, and more.
As I was writing, my goal was to provide a fundamental overview of offshore topics so that the reader would finish the text, have a clear understanding of his/her options, and know exactly what the next steps are to start planting multiple flags.
Casey Research is selling it for $99 and they’re including some complimentary bonus material along with your purchase; you can pick up your electronic copy here.
Next, Jessica asks, “Simon, what are the rules for transporting gold overseas?”
There’s been a lot of talk lately in the blogosphere on the subject of transporting gold. This is something that I have quite a bit of experience with as I take a bit of gold with me everywhere I go on my permanent travels, and I’ve moved large quantities of gold on several occasions.
Most countries have regulations for how much money and merchandise can be moved across their borders without declaration. These rules change all the time, and they vary from country to country.
Regarding gold, some governments only consider the face value of gold. For example, a one ounce American Eagle coin has a $50 face value, so you’d have to move 200 ounces in order to hit the threshold in the United States.
Other countries consider the gold’s market value; earlier this year in Singapore, for example, a Swiss national was fined for failing to declare 58 gold coins valued at $15,000, even though their face value was substantially less.
As another example, reader Don checked with the customs authorities in Panama and found that they follow the same scheme– valuing gold based on its merchandise/market price, not face value.
If you do decide to transport gold on your own, there’s one basic rule of thumb that you should follow: when in doubt, declare it. This includes the exit from your originating country, entry to your final destination, as well as through any transit country.
Next, “El” asks, “Simon, are body scanner machines being used in all major airports in the world now?”
No… at least not yet. Just in the last 30-days, I’ve gone through at least a dozen major international airport security checkpoints on three continents. I didn’t see a body scanner at any of them.
I know of at least 10 airports in North America that have body scanners, including DFW, LAX, BWI, and that hotbed of terrorist activity, Tulsa, Oklahoma.
They’ve been introducing them slowly in Europe as well– Amsterdam was the first and most vocal about it. Not to be outdone by the Dutch in curtailing civil liberties, though, the British government has promised to install these $125,000 machines across the UK “as soon as is practical.”
I suppose that’s Newspeak for “as soon as the foreign bondholders loan us the money.”
Lastly, an anonymous reader asks, “Simon, I am always amazed at your schedule. How do you handle laundry? (lol)”
It’s actually a fair question! When I travel and I’m staying anywhere for more than just a few days, I always try to rent a short-term apartment. These are usually equipped with a washer/dryer, as well as a full kitchen, etc.
Just recently in Bath, for example, I stayed in a very nice 2-bedroom flat in the city center for about 500 pounds ($750) / week. I’m moving on to Krakow early next week where I’ll spend about 10-days in another centrally located, luxurious apartment that runs only about $100/night.
