Tag: bank accounts

SEARCH

Consider these 5 steps in creating your own ‘Plan B’

In May 1788, Thomas Jefferson wrote one of the most prescient statements of his career: “The natural progress of things is for liberty to yield, and government to gain ground.” Jefferson was living in Paris at the time serving as the Minister to France at a time when the United States was still

Read More

An easy way to bank in the Channel Islands

June 22, 2010 Oxford, England In our daily conversations, we talk a lot about planting multiple flags– this is the practice of diversifying sovereign risk in order to protect or asses and our assets. After all, sovereign risk is the greatest risk we face today as investors, entrepreneurs, professionals, and free individuals. Governments

Read More

Questions: renouncing US citizenship, postal mail for PTs

June 18, 2010 Madrid, Spain Long haul flights from South America generally tend to leave in the evening, usually between 7pm and 1am. The airlines do this so that you arrive first thing in the morning and can catch any connecting flight you may need… which is nice for travelers. The flight schedule

Read More

What emerging markets have in common with puberty

April 8, 2010 Panama City, Panama Do you remember that really awkward phase we all went through as adolescents? Growth spurts, voice changes, menstruation, and yes, pimples– in the end, while we all came out of it more mature and grown up, there was a difficult and sometimes painful transition period in which

Read More

Banking and Gold Storage in Hong Kong

March 23, 2010 Hong Kong, SAR The banking system in Hong Kong is one of the most advanced in the world, and if you’re shopping around for a place to plant a banking flag, you should definitely consider it. As a jurisdiction, Hong Kong was effectively founded and built into a global financial

Read More

Why you don’t want to go at it alone

Blair is in her early 40s from Southern California.  She’s intelligent, fairly aggressive, and an experienced financial executive at a mid-sized manufacturing company. In total, she has about $250,000 in savings, some of which she used to buy property in Panama. She is single with no children and has been traveling to Panama

Read More

Case Study: Multiple Flags in Venezuela

January 19, 2010 Mexico City (DF), Mexico For such a pale skinned gringo, his Spanish was impeccable. We were both sitting in the business class lounge at the airport, and the fluidity with which he was prattling away in Spanish on his mobile phone caught my attention. Ordinarily, given his very light complexion

Read More

How to avoid living in a police state

If I have been too subtle in the past, let me be absolutely clear this afternoon: the time to do something, the time to take action to safeguard your future and your families livelihood, is NOW. I’m more impassioned than usual this morning… and with reason.  Reluctantly, I tuned in to Team Obama’s

Read More

Four jurisdictions to store gold overseas

January 7, 2010 Reporting from: Estepona, Spain I’ve long believed that exchange controls will eventually return to the developed world, specifically in the United States and Western Europe. Struggling to find buyers of their debt, these governments will likely impose strict penalties for net outflows and retail currency transactions. Unfortunately, most people will

Read More

Multiple Flags Overview

Reporting from: Malaga, Spain I do not have tremendous faith in world ‘leaders’ (as ridiculous a moniker as that is to use); last month’s debacle in Copenhagen only further underscored how perverse and ineffective the existing political process is, and everyone is really starting to see it. The Social Contract is deteriorating rapidly,

Read More

Subscriber Questions

I receive a lot of subscriber questions, and while I cannot answer them all, I wanted to specifically address three of them that key in on recurring themes in this community– second citizenship, investing, international opportunities, corporate structures, banking, and gold/silver storage. 1) Paul asks– “I was wondering what your 1st choice would

Read More

Capital controls are a foregone conclusion

So much for BMW’s run-flat tires. Believe it or not, I’m actually sitting on the side of the A3 motorway in central Germany, about halfway between Frankfurt and Munich, waiting for the tow-truck to arrive.  Apparently you’re supposed to be able to drive on these tires even when they’re flat… and with such

Read More

Six speeding tickets for a second passport

I spent a couple of days this week in a fast BMW with Matt, my friend and business partner. We had a meeting in southern Spain yesterday with a key figure in the world of second passports, and we raced at speeds up to 250 km/h so that we could make the meeting

Read More

International brokers and second passports

It’s true what they say about the Autobahn… there really is no speed limit.  I’ve been in the car all day with my close friend and business partner Matt, racing our BMW from Stuttgart to Monaco.  Our goal is to reach Spain by the end of this week where we have some important

Read More

Why Islam can save your wealth

Long ago, physical commodities were used as a mediums of exchange… gold and silver were quite popular because they were scarce, divisible, durable, and hard to replicate. If you had a few extra ounces laying around and wanted to store it securely, you would seek out the people who dealt with precious metals

Read More

Panama, Inc.

If he keeps this up, they might start calling it Panama, Inc. Panamanian President Ricardo Martinelli has been in office less than 6-months, yet to the extent that it is politically possible, he seems bent on running Panama with the same vision as when he ran the chain of supermarkets that made him

Read More

Singapore financial overview

I’ve explored Singapore in the past, but on this particular trip I really wanted to broaden my understanding of the country’s legal framework and financial infrastructure. With only 72-hours on the ground, I would have to work fast… so the trip was a whirlwind tour of bankers, lawyers, gold dealers, corporate secretaries, and

Read More

Banking in the Philippines

With tax rates ranging from 5% to 35%, the Philippines can hardly be called a tax haven. And yet, in a very public “guilty until proven innocent” attack several months ago, the OECD black listed the Philippines along with Uruguay, Malaysia, and Costa Rica. The OECD is an aged, irrelevant organization comprised of

Read More

Weekly update

LATVIA / SWEDISH BANKS The link between the fate of Latvia and the stock price of Sweden’s major banks became even more apparent this week.  On Monday, Latvia’s government announced that it had rejected a bailout deal with the IMF, spurring new concerns of devaluation. In response, investors sold off shares of Sweden’s

Read More

Today I confessed my sins to Uncle Sam

Today I confessed my sins to Uncle Sam. No, I’m not talking about anything sinister. But in a mad dash through a US stopover today, I dropped US Treasury form TDF-90 in the mail:  “Report of Foreign Bank and Financial Accounts.” It went something like this: “Forgive me uncle for I have sinned.

Read More