Over the past two weeks, we've been talking shop with Ryan Losi, a Virginia based US CPA who specializes in international tax planning. In today's conclusion, we talk about some of the most common mistakes Americans make when heading overseas, as well some thoughts on where the increased regulation and enforcement might ultimately take us.
There are many things to consider when one decides to internationalize. There will be some give-and-take, and we probably won't find everything that we want in any one location. However, with some forethought and imagination, we can find a place that will suit us fairly well. Jeff Thomas discusses a few of these considerations and how to avoid being disappointed.
Over the past few months we've followed the journey of Mark Svoboda, a Russian-turned US expat, as he travels the world to find his own Shangri-la. Today Mark tells us about his recent trip to the African nation of Tanzania.
Last week, we started a conversation with Ryan Losi, a Virginia-based tax accountant who specializes in helping American expats manage their financial and reporting requirements back home. Today, we pick up the conversation with some insights into different income tax deferral programs available to Americans living overseas...
While using gold as collateral for a loan might be uncommon, it is certainly not impossible... especially when it comes from governments who basically consider the yellow metal a relic of more barbaric times. Well, in the strange world we live in, this might not be so far off the mark, as Jeff Thomas explains.
Thanks to advances in technology, there are now virtually no obstacles holding governments back from monitoring your every move. Kyle Gonzales comments on this chilling development, as well as what you can do to protect yourself.
As the second half of the Greater Depression seems set to begin, fear will dominate the hearts and minds of many. Still, there are ways to endure through the hard times, and indeed, to even improve one's financial situation. Jeff Thomas considers that age old investment that now makes sense more than ever.
We get a lot of questions but by far, one of the most common goes something like this: "What is the best overseas jurisdiction for me?" Of course, the answer will depend on a variety of factors - not least of which includes your citizenship and residency, as well as your goals and your personal preferences. Today, Toronto-based tax planning expert, Greg McNally, is here to guide us through some of the options available, specifically tailored to our Canadian readers.
Recently, a reader posted the following comment at the end of one of our articles: What if you're not a person with hundreds of thousands of dollars to set up international accounts and businesses in other countries that might be able to withstand the financial meltdown/turmoil of USA? I mean for example if you're a recent college graduate with only a few dollars in your bank account, is it too late for such a person to get out of dodge?
Clearly, the World Wide Web has changed the way we live, and may be considered a blessing and a curse. The blessing is the instant access to immeasurable amounts of information on every imaginable subject at our fingertips. It's mind-boggling. The curse is (among other things) not always being able to access that information, for a variety of reasons. No doubt we've all experienced the exasperation of not finding what we seek online, frustrated after hours of searching. One must know what questions to ask and where to look.
Today I have the pleasure of introducing you to Andrey Dashkov, a very recent immigrant from the northeastern European country of Belarus. He and his wife both moved across the pond to Canada in late 2011 and in this interview, Andrey talks about his experiences and what it took for him to leave his homeland for the Great White North.
If you dream of living the PT [permanent traveller] lifestyle but have children and are concerned that it will be too difficult to move around with kids in tow, not to worry. I personally know a number of people who have done and continue to do it successfully.
Last week, we began a conversation with Scott Schamber, an expat who left Wisconsin to establish a life in the mountainous land of Switzerland. Today, we'll conclude the discussion with some remarks on who would be best suited for this Alpine environment, the biggest advantages the country can offer to would-be residents, and ending with some wise words of advice for would-be expats.
At least when it comes to the media, Ron Paul has it rough. They started out by ignoring him but have now moved onto denigration and defamation of character. But how far will it all go? Jeff Thomas considers the possibilities, however extreme some may be...
A couple months ago, Kyle Gonzales showed us the loophole the US government is using to access some of the "privately stored" digital data of its citizens. Unfortunately, it's not just US citizens that have to watch out for Uncle Sam. As you'll soon discover, prying eyes are looking far beyond their borders, even across oceans...
About a month ago, I was in Switzerland and had an opportunity to share a meal with the team at BFI - a Zurich-area asset management and consulting company specializing in helping foreigners access the Swiss banking and insurance system. Over lunch, I got to know Scott Schamber, the Head of their Client Advisory Team. It turns out Scott is an American expat who first moved to Switzerland 10 years ago after falling in love and getting married to a Swiss national.
Last month we introduced you to Mark Svoboda, a Russian currently living in Louisiana on a quest to find his "Next America" - a place that values personal freedom and offers economic opportunities. The first stop along his journey was Malaysia and today he continues with the nation known as The Lion City, Singapore.
Feudalism in the past has always been a dictatorship in which the common people (serfs) worked hard to provide for their overlord (the king), and sometimes had a little left over to provide for their own families. Today, things are different.
A few weeks ago permanent traveler Ian Oliver shared his insights with us in "The Top 10 Lessons of a Grizzled PT". One reader responded to the article, asking which countries had he lived in? So, today, Ian begins answering that question with the first stop along his PT Journey - The Pearl of the Orient - Hong Kong.
The IM Triangle focuses on three elements of international diversification, with income being one of the three key components. For the true internationalist, the Income Element naturally leads to having one's own business, whether that be a one-man shop or a larger firm with hundreds of employees. A common issue for would be cross-border businesspeople is that of currency. The differences between currency exchange rates have made and broken many businesses and introduces an element of uncertainty that makes it difficult to plan effectively.
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