Meet Europe’s Newest Tax Haven and Micro-State
Europe's newest "state" welcomed its first citizens this weekend, after a small group of libertarians declared independence for a patch of land on the border between Croatia and Serbia.
The "Free Republic of Liberland" has received no official recognition, but celebrated its first "Liberty Day" on May 1, doling out honorary citizenship to the first 100 attendees to arrive at the party in country.
Its "president", Vit Jedlicka, is a 31-year-old Czech, who is a former financial analyst and self-described libertarian. He said that long-term, he hoped Liberland could become a successful financial center due to its loose tax laws.
"I would categorize it as a tax heaven," Jedlicka said. "The reason why Liberland was created was that the rest of the world ended up being a tax hell."