My standing rules for banking overseas include having two bank accounts for each operating entity that has income. Most real estate holding companies that are used to hold property that doesn’t have income don’t need a bank account because there’s no money
Understanding The Flag Theory and 5 Flags Approach In the face of the kinds of market, economic, and political uncertainties the world is currently presenting, the key to protecting yourself, your family, and your assets is diversification, and the only way to truly diversify yourself is through planting flags. There are five basic things we [...]
At my Offshore Wealth Virtual Summit last week, one attendee proudly commented that he was well into his flag-planting and had already taken several key steps toward internationalizing his life. He had a bank account in Panama… had made real estate investments in Panama… had actually moved to Panama… and was on his way to […]
A banker friend from Austria who speaks at many of our live events likes to ask the following question as part of his presentation: “What happens to your bank account (in Austria… or anywhere else offshore) if you and your banker—and only you and your banker—know about its existence… and then you die?” If you’re […]
At last week’s Offshore Wealth Summit in Santo Domingo, my team and I looked at the best current options for planting your Five Flags, including your best choices today for alternative residency and for opening a bank account overseas. Why might you want a bank account in another country? Maybe because you’re planning to move to […]
What's Fueling This Boom? (And, No, It's Not Too Late For You To Get In) The economy of the country where you decide to relocate is important... because a healthy economy means money flowing through the place. It also helps to support a safe and stable climate generally. Panama has the most robust economy in [...]
“What bank do you recommend in Panama?” That’s one of the most frequently asked questions I receive. I get it at least a couple of times a week… The honest answer? None. Panama currently has 78 banks. Of those, 29 have international licenses; 49, including the 2 government banks, have general licenses. I’ve dealt personally […]
What Is FATCA? And How Can You Manage And Conquer It? FATCA Is A Big, Bad Deal… But You Do Have The Power To Conquer It Despite the prosperity it has enjoyed under a free market, the United States in 2009 enacted legislation that many people view as the start of capital controls in America. [...]
Planning Your Legacy And Protecting Future Generations The idea of legacy planning isn’t new. Families from the Rothschilds to the Duponts and the Kennedys have done it for a long time, and some European families have created plans that have maintained family wealth for centuries. The idea that those of us with less substantial assets might [...]
What You Need To Know About Asset Protection Today It is important to know what international asset protection is and what it is not. A properly constructed asset protection plan places a portion of your net worth behind multiple barriers…the more barriers, the greater the protection. It allows you to level the litigation playing field and [...]
Offshore Living Letter is a publication of Live and Invest Overseas. Our goal is to provide timely, actionable information on all things offshore, including: how to go offshore, diversifying your portfolio, wealth creation, protecting your assets, and much more.