International Living

Global Cities of the Super-Rich

"The report also ranks the global cities that matter the most to these high-net-worth individuals, based on four categories: economic activity, political power, quality of life, and knowledge and influence. Overall, New York and London top this list as well, followed by Paris, Tokyo, Hong Kong, Singapore, Sydney, Washington, D.C., Toronto, and Zurich. This list is similar to my own ranking of the world's most economically powerful cities. The cities are also ranked on each category individually, and the table below (from the report) charts the leaders in each of the four categories." Continue reading →

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Voluntary Tax Disclosure Programs Correlated With U.S. Citizenship Renunciations

"'It’s quite clear from the data that the number of people renouncing their citizenship shoots up at the same time that the IRS began the Offshore Voluntary Disclosure Programs. Then, the number of people renouncing citizenship decreases at the same time that the Streamlined program is announced – which gives US citizens living abroad a less cumbersome way to catch up on back taxes, but then it shoots up again when the FATCA rules start to kick in and people find that the bank they have worked with for 20 years is closing their account because they are a US citizen' said David McKeegan of Greenback Expat Tax Services, a tax preparation company." Continue reading →

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The Worst Law Most Americans Have Never Heard Of

"While there is still an opportunity for you to avoid getting boxed in by a desperate and out-of-control government, nobody knows exactly how much time is left. And once official capital controls are implemented (#3), your wealth is trapped and things tend to unravel pretty quickly. Developing your internationalization game plan does not mean you have to leave your home country. It is possible to achieve a certain level of international diversification without needing to leave your living room, for example, by opening a foreign bank or brokerage account remotely. The idea is to create your own personal insurance policy to immunize yourself from the common destructive measures of a desperate government." Continue reading →

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Jeffrey Tucker: Canada: Land of the Freer?

"With QuickBt, consumers are buying bitcoins and then transferring them to merchants. No harm, no real money exchange as traditionally defined, no sneaky financial trickery. It's just business, and the Canadian regulators have said: it's not our business. Meanwhile, just south of the border, regulators are putting the fear of government into every conceivable crypto-currency merchant. Congress is issuing warnings. The Financial Crimes Enforcement Network is exacting fees. The feds are driving services out of existence. It's so bad that Bitcoin advocates are reduced to Stockholm-like begging: 'Please regulate us as soon as possible.'" Continue reading →

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IRS makes useless paperwork less onerous for U.S. Persons in one country

"You do the math: 190-odd other countries & territories, each with their own unique kinds of purpose savings accounts, most speaking languages other than English, and fewer than a million affected filers in each to lobby for change. How long will it be before U.S. Persons finally have the freedom to move to any country on Earth without incurring unreasonable paperwork requirements, and the folks in the District of Columbia can start figuring out what to do with all those non-filers who moved to Mars in the intervening centuries?" Continue reading →

Continue ReadingIRS makes useless paperwork less onerous for U.S. Persons in one country

Needy EU Nations Woo Chinese Home Buyers to Ease Slump

"Cyprus, Greece and Portugal are providing resident permits to foreign buyers, while Spain is about to adopt a similar measure. The chance to purchase a home at depressed prices in southern Europe and gain what’s known as a golden visa is mostly being sold to Chinese investors, according to brokers. Southern Europe is the latest target for rich Chinese homebuyers, who have been snapping up properties from Vancouver to London since 2010 as their wealth swells and China’s government steps up a three-year campaign to cool home prices there. The number of millionaires in China rose 4 percent from the previous 12 months to 2.8 million." Continue reading →

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Cuba 2012 (BBC Documentary)

"In this hour-long documentary for the BBC's award-winning This World strand, Simon gets under the skin of a colourful and vibrant country famous for its hospitality and humour and asks if this new economic openness could lead to political liberalisation in a totalitarian country with a poor human rights record. Will Cuba be able to maintain the positive aspects of its long isolation under socialism - low crime, top-notch education and one of the best health systems in the world - while embracing what certainly looks like capitalism? Is this the last chance to see Cuba before it becomes just like any other country?" Continue reading →

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Deciding on Living in Medellin, Colombia: The Good & Bad

"I would say that I have now become semi-nomadic. I travel very differently than others in that I rent a furnished apartment anytime I move overseas. Since I day trade in the stock market and run other businesses online a reliable Internet connection is a necessity. To boast my credentials I will inform you that I have lived in 12 countries spanning five continents. All unique countries in their own right but nothing compares to living in the city of eternal spring. It has been noted in countless lists as one of the best places to live including the official Wandering Trader best places to live in South America list. The most important list of all right?" Continue reading →

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Venezuela struggles to attract tourists

"After neglecting the tourism sector for years, in favor of the lucrative oil industry — Venezuela has the world’s largest proven reserves — the government in Caracas is now working hard to attract visitors. However, the country suffers from outdated infrastructure — hotels, highways and domestic flights are all lacking — and wary foreigners who choose different destinations after seeing Venezuela’s high crime rates. Colombia welcomed 2.1 million visitors last year, 4.5 million people flocked to the Dominican Republic and its famous resorts and Brazil had 5.6 million visitors. In 2011, Cuba opened its doors to 2.6 million tourists." Continue reading →

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Offshore Jurisdiction Review: Malta

"Malta is attractive to entrepreneurs, workers, and retirees alike. The government has special programs for high net worth retirees. There are several tax advantages to living in Malta. Only income remitted into Malta is subject to taxation, meaning you can own offshore investments and not pay a dime in tax. Furthermore, remittance of capital gains into Malta is tax free. Malta has no inheritance tax, wealth tax, or annual property tax. Put together low taxation, low cost of living, and year-round sunshine, and it becomes clear why Malta is very attractive to live and work in. EU nationals do not need any residence permit." Continue reading →

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