September 17, 2010
Dallas, Texas, USA
My time here in the United States is winding down, and I’ll be heading back overseas shortly. This trip has been great, affording me ample time to spend with my family, and especially my father who is now feeling much better.
Unfortunately, due to these personal commitments, I’ve been unable to hold any subscriber gatherings during my trip to the US… but I will look forward to doing so soon, either when I’m next here, or perhaps at our offshore workshop which we’re planning in a few months’ time in Panama.
On to this week’s questions; first, Rick asks, “Simon- I’m interested in subscribing to the new premium service, but I was wondering how you’ll keep the membership secure so that governments will not try to shut down your contacts and/or try to obtain information on the members?”
First of all, I practice what I preach. My partner and I have a business with intellectual property based in Singapore with a Canadian-hosted website which processes payments through a European bank which eventually funds an account in Hong Kong.
These multiple flags that we have planted ensure that no single government has control over the business, and we have the flexibility to shift jurisdictions at any time should the need arise.
Second, our premium service does not advocate or publish anything illegal; every single one of the tactics that I discuss is completely legitimate, and I always stress compliance with the law.
None of my contacts in the premium service, whether a banker in Hong Kong, or corporate service group in Singapore, or passport facilitator in Paraguay, or broker in Chile risks being shut down by any government.
Trust me, there are countless, legitimate ways to protect yourself against sovereign risk, achieve self-reliance, and still sleep well at night knowing that you’ve abided by the regulation. This is fundamentally what our new service is all about, and it provides practical information for doing so.
For example, after reading the first issue, you will be able to take immediate steps towards cost-effective South American citizenship process, protect your assets with one of the world’s strongest trust structures, and explore specific business and employment opportunities in a thriving economy.
You can take any of these steps in the light of day.
We’ve been given the green light by the bank, so we’ll be launching on Monday. Once again, if you want to take advantage of special, charter membership pricing ($277) for the first 500 members, I encourage you to sign up for our early notification list if you haven’t done so already.
Next, Karl writes, “Howdy Simon. On numerous occasions, you’ve alluded to still having a US passport. Why haven’t you taken the leap and renounced citizenship?”
Great question. First of all, yes, I am a US citizen… among others. I do have multiple passports– in fact, I just had to renew one that I lost while in Brazil a few months ago.
When I write about renunciation of citizenship, I’m not necessarily recommending or encouraging this step; my goal is to simply present objective, accurate information to help people make their own choice.
Renunciation of any citizenship, US or otherwise, is a deeply personal decision that each person will have to make individually at such time when the cost of maintaining the citizenship exceeds its benefit.
Some people renounce for philosophical reasons, no longer wanted to be associated with a political doctrine with which they have a visceral disagreement. Others renounce for financial reasons.
In the US, the tax net follows you all over the world, and it can be a real bear. In my case, though, I’ve planted enough flags that I have been able to legitimately reduce my tax burden. And as the US passport is still a great travel document, its benefit still exceeds my cost… at least for now.
Lastly, Jimmy writes, “Simon, I’m hearing about a possible move by the Brasilian government to seize foreign-owned farms and ranches. My Brasilian fiancee thinks it’s just election rhetoric, but it bears watching, and I think it is a reminder that you can’t trust Socialist governments.”
Certainly, it’s worth keeping an eye on all governments to make sure politicians keep their hands off of your assets. But one of the most common, misperceived fears about owning property overseas is that people honestly believe their land will be confiscated.
Rumours abound across the Internet, detailing horror stories about how someone in a far away land had his/her home seized by the government, etc. Most of these stories are just plain phony.
Governments want foreign investors and property buyers… it’s good for the real estate market and good for the economy. Scaring buyers away by confiscating small properties doesn’t do anyone any good, and even bonehead politicians understand that.
Should you want to fly high above the radar by scooping up 500,000 hectares in Venezuela? No way. You may as well paint a bulls-eye on your forehead. But buying a small property just about anywhere in the world is a low-risk endeavor. The rumour you’re hearing about Brazil is just that– rumour.
I should warn you, though, about one ‘socialist’ country whose government already owns a whopping 30% of the nation’s landmass; what’s more, they’re currently trying to scoop up another 10 million acres from private owners, relying on a weak interpretation of a 100-year old law to force the sale.
It’s the United States of America. Caveat Emptor.