Specific Countries Residency Through Teak Investment In Panama

Teak-tree-plantation
Teak-tree-plantationThe World’s Easiest And Best Residency Option

Dec. 18, 2014, Panama City, Panama

Dear Offshore Living Letter Reader,

The most cost-effective, hassle-free invest-for-residency program we know of available anywhere in the world today is in Panama and takes advantage of this country’s “Specific Countries” residency visa program.

The Specific Countries program was initiated under Ricardo Martinelli’s presidential administration through an executive order that the new president of Panama, Juan Carlos Varela, has so far allowed to remain in place. It is available to citizens of 48 specifically named countries. If you hold a passport for one of the 48 countries on the list, this is the best Panamanian residency option after Panama’s pensionado visa…and, again, in fact, one of the best residency options in the world.

Unlike other residency visa programs, Panama’s Specific Countries program is a one-application process that results in immediate permanent residency. Other options require several applications over several years and grant at first temporary, not permanent residency. Continue reading “Specific Countries Residency Through Teak Investment In Panama” »

How To Figure The Exit Tax When Renouncing U.S. Citizenship

How To Figure The Exit Tax When Renouncing U.S. Citizenship
How To Figure The Exit Tax When Renouncing U.S. CitizenshipUnderstanding The U.S. Exit Tax

Dec. 15, 2014
Panama City, Panama

Dear Offshore Living Letter Reader,

Last week’s Taxation 101 (Where To Live Tax-Free) essay was well received but raised lots of questions from American readers, including many to do with what I’d say is maybe the most misunderstood U.S. tax on individuals—the “Exit Tax” Americans have to pay when they give up their U.S. citizenship.

To clarify, this is not a separate or an additional tax. What, then, is it?

In the past, the Exit Tax was imposed on an American giving up his or her U.S. citizenship if the U.S. government decided in its infinite wisdom that he or she were renouncing citizenship for tax purposes. In that case, you could be required to continue to file and pay taxes on your income for up to another 10 years.

As giving some bureaucrat the power to determine a person’s reasons for relinquishing U.S. citizenship introduced a highly subjective variable into the process, the U.S. government eventually changed the rules to be more black and white. Continue reading “How To Figure The Exit Tax When Renouncing U.S. Citizenship” »