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The American Expatriation Guide

Tyler Durden's picture




 

A reader and former US citizen provides this extensive guide for American expatriation. As noted, "For Americans, reliable information about how to exercise the right of expatriation is very difficult to find without incurring substantial costs.  Many high net worth individuals never consider it simply because the subject seems so mysterious and intimidating. Yet freeing yourself from the global U.S. tax net provides the highest guaranteed return on capital that any American will ever know. The purpose of this guide is to demystify expatriation, highlight its many benefits, and provide a roadmap to follow should Americans choose to exercise the right.  I hope it will be an invaluable resource to your readers. I am the sole author of the guide, and it is my desire to remain anonymous.  As I note in the document, I give unrestricted, royalty- free permission to any and all parties to reproduce, publish and distribute this guide, in whole or in part, on any form of media in all territories throughout the world."

American Expatriation Guide

 

 

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Wed, 05/05/2010 - 04:43 | 332108 xPat
xPat's picture

My hat is off to the author for an OUTSTANDING job on this guide. This information is extremely hard to find when you are looking for it on your own, as the author attests.

I thought it was excellent overall, and only noticed two minor errors and one omission:

  1. The statement that giving up your citizenship is called renunciation is slightly incorrect. There are two ways to give up citizenship; renunciation or relinquishment. The difference is subtle and has little significance other than perhaps (arguably) the possibility that the Reed Ammendment applies to those who renounced but not those relinquished. (The Reed ammendment is a never-been-used piece of legislation that gives the government the authority to exclude expatriates from entering the USA)
  2. The assertion that you are required to bring a second passport to your expatriation appointment is technically incorrect, although certainly makes sense in practical terms. You do have the right to expatriate without having another citizenship and thereby become a stateless person (citizen of no country). That would appear to be about the stupidest thing you could ever want to do, but it does have a purpose. If you want to emigrate to China, they won't take you while still a U.S. citizen. You have to go stateless first then naturalize as Chinese.
  3. A significant omission in the "where to live" section: Anyone contemplating this decision needs to acquaint themself with the territorial tax doctrine, and research whether or not your target country has it. Both singapore and Hong Kong do. In short, this means you pay income tax in your new home country ONLY on income you earn there. Income from investments in other countries is tax-free. You want this if you can possibly get it and for many it will be a major deciding factor.

On the whole, this guide is outstanding. However I think anyone who is actually going through with this should still retain the services of an expert consultant who knows the rules better than the governments do. I recommend Mark Nestmann at nestmann.com.

xPat

 

Wed, 05/05/2010 - 12:28 | 332768 Mont Bleu
Mont Bleu's picture

This guide is only half true. You can be a US citizen, live abroad, and not owe any taxes to the IRS:

 

"The United States has tax treaties with a number of foreign countries. Under these treaties, residents (not necessarily citizens) of foreign countries are taxed at a reduced rate, or are exempt from U.S. taxes on certain items of income they receive from sources within the United States. These reduced rates and exemptions vary among countries and specific items of income. Under these same treaties, residents or citizens of the United States are taxed at a reduced rate, or are exempt from foreign taxes, on certain items of income they receive from sources within foreign countries. Most income tax treaties contain what is known as a "saving clause" which prevents a citizen or resident of the United States from using the provisions of a tax treaty in order to avoid taxation of U.S. source income."

 

http://www.irs.gov/businesses/international/article/0,,id=96739,00.html

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qrs521's picture

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Wed, 05/05/2010 - 04:55 | 332109 tony bonn
tony bonn's picture

sound, timely, and delicious....

expatriation is the only way to slay the beast....america is ruled by evil and arrogant rulers....

the sad thing is that most americans are foolish ignorant stupidasses who believe the lies spewing from the state controlled media and the gs-owned politicians....

until you understand that the military industrial complex murdered john kennedy you do not understand america....

Wed, 05/05/2010 - 05:18 | 332116 i.knoknot
i.knoknot's picture

or... we can quietly wait for the right moment, and pounce...

or teach our kids and grand-kids to wait for the right momen....

nevermind

Wed, 05/05/2010 - 05:17 | 332114 Fred C Dobbs
Fred C Dobbs's picture

On page 62 of Robert E. Bauman's "The Passport Book" regarding Dominca.

quote

Over the years, there have been several sanctioned investment routes to acquire economic citizenship, including investment in long-term and low-yield government bonds, direct cash contribution to the government, or investments in particular designated projects.

The "single option," under which an individual applicant's US$75,000 investment is to be divided equally between public and private sector projects.

unquote.

This to means sounds like an $75,000 dollar investment and not a $75,000 fee.  Could the writer clarify?

Also if someone is 5 years away from leaving the USA, when would you suggest they start the process to get a second passport? 

 

 

 

 

Wed, 05/05/2010 - 05:28 | 332120 xPat
xPat's picture

In Dominica, the $75k is a fee, not an investment minimum. By the time you've paid for the lawyer, airfare and hotel for the required government interview, background checks, etc. the total loaded cost of economic citizenship in Dominica is about $110k USD. Nevis/St. Kitts is about double that, and no in-person visit is required if you are using a local attorney.

xPat

Wed, 05/05/2010 - 05:43 | 332127 Fred C Dobbs
Fred C Dobbs's picture

Thanks xPat.  $110,000 would not make it worth it to me unless I make a lot more money than I anticipate over the next 5 years.  It seems to me that some smart government(s) might see the market for selling second passports at more affordable prices.  Seems like easy money to me.  Any rumors out there that some might?    

Wed, 05/05/2010 - 06:36 | 332151 speculator
speculator's picture

Austria also reportedly has a program, but they want a cool million euros. Haven't seen an update on this a while, though, so it may have changed.

Wed, 05/05/2010 - 08:11 | 332203 Renfield
Renfield's picture

entrance tax

Wed, 05/05/2010 - 05:48 | 332131 AnAnonymous
AnAnonymous's picture

Renunciation can be made at home.

Yet a point one could agree on: the first world overpopulation issue might take the path to be solved by a new round of colonization.

Founding fathers were expats but first of all, colonization settlers.

The big difference is that while the Indians generously handed down a preserved continent, this time, the new colonials will have to face a soon to be depleted environment. Perhaps this explains the reluctancy of the US citizen to leave their country.

Wed, 05/05/2010 - 05:48 | 332132 AnAnonymous
AnAnonymous's picture

Double post

Wed, 05/05/2010 - 06:02 | 332142 Renfield
Renfield's picture

Wow, the stampede is starting, just at the edges.

Here on ZH and other blogs, people are talking about leaving. I wonder how much talking about this people in other countries are doing too.

None here in Aus yet. It is coming as a shock to the people here that hard times are starting - lots here still say, STILL, that 'it's different here' and Aus has 'skipped the recession' (direct quotes from the clueless). Many have NO idea how much China's recent tightening is about to affect us.

Fleeing Americans (or other nationals) had better be careful where they're fleeing TO. The bad thing about the US and UK is that they're deeper in depression than many other places in the G20. The good thing about the US and UK is that they're further ahead in the process than the rest of us. Our Depression reality, in many places, is only just starting to hit. Ask the Greeks...

I'm just saying, with the Depression about to bite down on some of us bubble laggers, be careful you aren't flying the frypan into the fire. I like his recommendation of Canada, but keep in mind that the housing bubble has yet to break there, AND if commodities experience deflation then their currency/market/economy will be HURTING, a lot more than now. As with Aus, China's tightening has only begun and the effect has not yet been felt there. Canada is in the eye of the storm IMO at the moment. The China cushion has only JUST been rudely snatched away.

BTW, the handbook says that the US is the only country with an exit tax, but I have the impression that South Africa has one too. Pretty much just as draconian - can anyone confirm whether I'm right or wrong on that?

PS: WTH is going on with the currency markets????? I've been watching the EURUSD and USDJPY pairs. For the last three hours, Frankfurt and London have not BUDGED. This is suspiciously, ominously unusual. I've never seen these big markets not zooming up or down at this peak trading time, especially with these major pairs. No-one is buying or selling the Euro - it's really just sitting. They're cooking something up and I'm wondering what it is.

Wed, 05/05/2010 - 12:19 | 332751 declineNfall
declineNfall's picture

Exit taxes for canada, australia, france. strangely enough the land of taxation the UK, doesnt have an exit tax.

 

Wed, 05/05/2010 - 08:56 | 332147 Cognitive Dissonance
Cognitive Dissonance's picture

I was discussing this exact subject yesterday with a client and I professed total and complete ignorance. I am no longer in that state, pun intended. Thank you "Former US Citizen", Tyler/ZH and also xPat for clearing up a few wrinkles.

Wed, 05/05/2010 - 06:50 | 332155 UncleFurker
UncleFurker's picture

 

IIRC, Panama only taxes residents on income earned onshore. They also have a fasttrack residency program where you invest in a reforestation project. I don't like the legal system there though, like Mexico is too easily circumvented by locals with cash to pay the right people.

NZ does not tax new arrivals for 5 years, so that's worth thinking about too.

http://www.nzcts.co.nz/english/ - they can help with immigration as well, I think. Best to set up the most tax advantageous structure BEFORE you move.


Wed, 05/05/2010 - 12:40 | 332791 Common_Cents22
Common_Cents22's picture

 I think Curacao(Netherland Antilles) is pretty attractive for 2nd passport/citizenship.

Wed, 05/05/2010 - 06:50 | 332156 Mercury
Mercury's picture

You mean capital wants to flow to where it's welcome and stay where it's well treated?

Who knew?

Wed, 05/05/2010 - 06:59 | 332160 MarketFox
MarketFox's picture

Agreed.

 

The world can be a wonderful place. The US has become a Fascist State, run by the Elite.

Over 80% of its wealth is now controlled by a very small percentage and growing.

The US public just had $Trillions stolen from it by the big banks and investment firms along with the associated politicians....and let there be no mistake....the public who has the lessor  wealth ratios WILL be paying for it.

An intelligent person should be finding it somewhat more difficult to justify getting hosed by the US Elite. And the lack of tools to fight legal largesse is just one of the big disadvantages.

If the US were to replace the income and corporate taxes with a maximum 15% Consumption tax....the US would start becoming an attractive setting.

The US is going in the wrong direction.

 

Tue, 05/18/2010 - 22:57 | 332543 wyosteven
wyosteven's picture

.

Wed, 05/05/2010 - 07:04 | 332162 Frederic Bastiat
Frederic Bastiat's picture

Step 1. Purchase Citizenship in Dominica

Step 2. Fly to Mexico

Step 3. Jump border fence

Step 4. Enjoy the tax free lifestyle of an illegal immigrant living in America

But seriously, this was great information about immigration and becoming an expat.  

Wed, 05/05/2010 - 07:23 | 332174 speculator
speculator's picture

Brilliant!

Wed, 05/05/2010 - 07:53 | 332187 AnAnonymous
AnAnonymous's picture

Step 5 Feel the bite of losing US protection shield in the doing.

 

Remember, in wars involving the US, only one body count: US citizens.

Dont forget to request a warming welcome from the side of sub human beings dieing in drove to US soldiers and not worth a body count.

Wed, 05/05/2010 - 12:33 | 332777 declineNfall
declineNfall's picture

@AnAnonymous. guess you've not checked properly. so long as the bodies arent related to big politicos or wealthy donors, then the US doesnt give a damn. 

Wed, 05/05/2010 - 16:01 | 333156 UncleFurker
UncleFurker's picture

 

Exactly. Cue SOAD...

"Why do they always send the poor? Why don't presidents fight the war?"

 


Wed, 05/05/2010 - 07:15 | 332167 mynhair
mynhair's picture

Honduras is worth investigating.  There is a medium track there if you work in a desired desired area, such as teaching.  Mainland prices are cheap, too.

Wed, 05/05/2010 - 07:18 | 332169 capitalisa
capitalisa's picture

Leave America? lol  Don't let the door bang you in the ass, retarded pussies.  Good riddance.

Wed, 05/05/2010 - 07:18 | 332170 Zina
Zina's picture

Come to Brazil! We love gringos here!

Wed, 05/05/2010 - 07:28 | 332178 Fred C Dobbs
Fred C Dobbs's picture

Retarded pussies? How ignorant.  

Wed, 05/05/2010 - 07:32 | 332180 economicmorphine
economicmorphine's picture

Seems to me the whole renunciation movement is built on the belief that one can escape.  I used to believe that but I don't any more. I've watched the IRS reach into Swiss banks and take what they want?  Freedom?  Freedom's just another word for nothing left to lose.

Wed, 05/05/2010 - 07:42 | 332184 Renfield
Renfield's picture

I'm gradually coming to this conclusion as well.

In the natural human 'fight or flight' response, what happens when the Powerz deliberately eliminate flight?

Wed, 05/05/2010 - 21:40 | 333682 Goyim Sheep
Goyim Sheep's picture

I think "Me and Bobby Mcgee" will be heading down to NZ this winter to start the lengthy process of looking for an alternative place to live.

Wed, 05/05/2010 - 07:35 | 332182 John McCloy
John McCloy's picture

Greece is not going to make it. You guys watching Bloomberg? It is amazing how powerless military and police are once people band together.

Wed, 05/05/2010 - 07:46 | 332185 Renfield
Renfield's picture

Agree. I think this is the first domino in the worldwide fiat crash.

Greece --> Eurozone --> flight to USD (now that the JPY doesn't seem to be a 'safe haven' anymore) --> USD 'strength' puts the US government between a rock and a rock --> failed attempt by IMF/BIS to treat SDRs as a 'reserve currency' --> China unveils asset-backed new currency in co-operation with Middle East and Russia --> new era.

Well, that's generally speaking what I'm expecting anyway...

Wed, 05/05/2010 - 09:14 | 332307 SWRichmond
SWRichmond's picture

That's similar to what I expect, but the timing is challenging.  China's move is obvious, though over the mid-term, ten years or more.  ME wants out of the USD standard, but needs a replacement military "protector".  Russia's policies are blinded by their hatred of the U.S.

Wed, 05/05/2010 - 11:08 | 332608 hangemhigh
hangemhigh's picture

SWR:

"Russia's policies are blinded by their hatred of the U.S."

interesting bit of history there.  back in the day the soviet union only had two real sources of hard foreign exchange; gold and oil.  to buy (food/technology/etc) on foreign markets they had to borrow money.  the reaganauts, in collusion with the UK and the saudi's, managed to tank both the gold and oil markets so that the USSR had no viable exports (other than weapons to client states). without a ready source of foreign exchange no one would lend to them. 

the USSR collapsed.   vlady putin was around then, knew what happened and how and is now in the process of returning the favor.

it's the grand karmic super-cycle, what goes around comes around

 

 

Wed, 05/05/2010 - 11:19 | 332638 Renfield
Renfield's picture

I remember that.

I kinda hate them (the Reagan puppeteers) for that, too...

Wed, 05/05/2010 - 19:25 | 333485 SWRichmond
SWRichmond's picture

I didn't say their hatred wasn't warranted, I just said they are blinded by it, and they are.

Wed, 05/05/2010 - 13:28 | 332669 hangemhigh
hangemhigh's picture

SWR:

"Russia's policies are blinded by their hatred of the U.S."

interesting bit of history there.  back in the day the soviet union only had two real sources of hard foreign exchange; gold and oil.  to buy (food/technology/etc) on foreign markets they had to borrow from western banks.  the reaganauts, in collusion with the UK and the saudi's, managed to tank both the gold and oil markets so that the USSR had no viable, hard currency earning exports (other than weapons to client states). without a ready source of foreign exchange, no one in the west would lend to them. 

the USSR collapsed.   vlady putin was around then, knows what happened and how and is now in the process of helping to return the favor.

it's the global trading game's grand karmic super-cycle of oil, gold and debt. what goes around comes around.

 

Wed, 05/05/2010 - 18:22 | 333395 UncleFurker
UncleFurker's picture

And the USA cheered on (and funded) radical islamists against the USSR, who then liked the feel and decided to expand.

 

"Family of Secrets" is a great read.

 

 

Wed, 05/05/2010 - 07:58 | 332192 AnAnonymous
AnAnonymous's picture

I am not watching but let me guess the feeling.

Tiny sectors of a  country are sold as being representative of the big picture.

A one street long chaos is sold as if the whole city turned amok. A quarter concentrating a demonstration sold as if the whole country turned ablaze, so much you can see fires light from the other side of the Mediterannean sea.

Far or close?

Wed, 05/05/2010 - 08:03 | 332194 John McCloy
John McCloy's picture

 Speaking of fires Bloomberg reports at least 1 person was killed as a bank was just set on fire in Greece. 

Wed, 05/05/2010 - 08:10 | 332196 Renfield
Renfield's picture

Hi AnAnon

I'd say 'close' as in the MSM likes to have sensational violent scenes in front of their cameras. I don't think most of us believe that things are as chaotic as Channel Seven News might portray them as being though. :-)

I don't think the Greece crisis has as much to do with protests/demonstrations as it does with the ratings agency downgrade, followed swiftly by the bond market scrutiny.

As to what triggered THAT (the ratings downgrade, now as opposed to earlier or later, and why Greece in particular) I don't know. But I bet the IMF does. (This feels like a takedown to me. It was deserved but equally deserved for most 'G20' countries, including the IMF bigshot ones.)

Wed, 05/05/2010 - 09:04 | 332281 bernorange
bernorange's picture

The MSM likes to have sensational violent scenes in front of their cameras unless that violence occurs in Pittsburgh at a G20 summit.

Wed, 05/05/2010 - 18:25 | 333401 UncleFurker
UncleFurker's picture

 

Yeah. That march of Wall Street last Friday sure didn't get much coverage.

 

Wed, 05/05/2010 - 07:52 | 332186 Internet Tough Guy
Internet Tough Guy's picture

Where will you go? It needs to be someplace that will fare as well, or hopefully better, than the place you are leaving. When you move to a strange land, you are the outsider, without support of friends and family, perhaps unfamiliar with local custom and law, perhaps viewed with suspicion by the locals.

How bad will things get where you are going? How sure are you that you can make it on your own? What's your backup plan? All things to consider.

 

Wed, 05/05/2010 - 10:13 | 332480 Cursive
Cursive's picture

ITG, my thoughts exactly.  And why run?  America is a beautiful land with hard working peole.  Those who wish to flee are suffering from a "greener pastures" syndrome.  Just push for regime change at home.

Wed, 05/05/2010 - 18:26 | 333403 UncleFurker
UncleFurker's picture

 

Regime change? I thought that just happened?

Doesn't seem to have changed much.

 

Wed, 05/05/2010 - 08:08 | 332201 Souverainiste
Souverainiste's picture

75 grand for the cheap passport!?  The world may be an oyster, but for people who can't afford 6 figure seafood, it feels more like a cage. 

On the bright side, I'd make a better revolutionary than expat, anyway.  And cage matches are always a thrill.

Wed, 05/05/2010 - 08:52 | 332254 aerojet
aerojet's picture

I'm with you on that one.  I'm a 13th generation American.  My ancestors settled in New York before the Revolutionary War.  Why the fuck would I let a bunch of oligarchs chase me out of my own country?

Wed, 05/05/2010 - 09:16 | 332315 SWRichmond
SWRichmond's picture

Why the fuck would I let a bunch of oligarchs chase me out of my own country?

Yeah, it's just so fundamentally wrong, isn't it?  The article about expatting is interesting and timely, but I fcking live here and I'm no one's damned slave.

Wed, 05/05/2010 - 10:16 | 332487 Cursive
Wed, 05/05/2010 - 12:29 | 332769 tmosley
tmosley's picture

I guess you don't pay taxes then.

Wait, you do? Well then you are most assuredly a slave.

Wed, 05/05/2010 - 21:37 | 333712 Fred C Dobbs
Fred C Dobbs's picture

My family has been here that long too.  I  will be leaving the USA for the same reason my ancestors came here, personal freedom. 

Wed, 05/05/2010 - 14:00 | 332928 Common_Cents22
Common_Cents22's picture

75 grand sounds steep, but look at the payback when you look at the lack of taxation.  How fast can you make that up if you have global passive or active income.

 

I think the US allows you to make 90k tax free when living abroad as a us citizen.

Wed, 05/05/2010 - 08:25 | 332213 whopper
whopper's picture

I split 10 years ago. I really dislike having to return for visits. It is like a funky mix of socialism and facism.....wierd.

Wed, 05/05/2010 - 10:18 | 332492 Cursive
Cursive's picture

Where did you go and do you feel safe if things deteriorate?

Wed, 05/05/2010 - 09:59 | 332218 john_connor
john_connor's picture

Posts and information like this are the reason I love this site.  Truly outstanding.

Wed, 05/05/2010 - 08:49 | 332223 Rogerwilco
Rogerwilco's picture

Renouncing your U.S. citizenship is probably not the best choice. Several laws were enacted since 2008 to make sure that the feds get their vig, and anyone with a net worth of more than $600K had better get some legal advice before they leap. If you are worth over $2M and renounce, there is an exit tax on unrealized gains on all your assets, worldwide. It is due and payable immediately, and there is no judicial appeal.

As usual, the uber-wealthy have different rules, and the smart money got out of Dodge a long time ago.

Wed, 05/05/2010 - 08:59 | 332271 crosey
crosey's picture

If all of the good people leave, who will be left to right the ship?

I encourage you to grit your teeth, stay, fight, and be here for the cleanup.  We will need your help, greatly.

Wed, 05/05/2010 - 11:01 | 332566 wyosteven
wyosteven's picture

Who needs people when corporations are first in line with more rights and protections than you?

What's not to like when justice is for sale, served to the rich criminals out of the ground up bits of the middle class -- with bonuses?

Wed, 05/05/2010 - 09:03 | 332278 blindfaith
blindfaith's picture

I suppose, if you got the cash, you could just buy your own island somewhere.  I mean, Chris Dodd just did, so have quite a few of the big boys in tech, Virgin Air, and others.  What the heck, there are lots of lslands that would love to sell and get out of their own 'Dodge's'.  I like the idea of a submarine, surface for margaritias and a bit of sun once in awhile, fish the rest.  If the idea is to get away from 'government' international water is place to be.

Wed, 05/05/2010 - 12:40 | 332789 declineNfall
declineNfall's picture

i hear greece has thousands of islands and is going bust.... put in a low ball offer

Wed, 05/05/2010 - 09:07 | 332288 Matto
Matto's picture

No capital gains tax in new zealand.

Wed, 05/05/2010 - 09:18 | 332320 whopper
whopper's picture

I wish I had enough cash to make it worthwhile... just so I wouldn't have to be associated with the corrupt US military-banking-industrial complex. It really is embarrasing.

Wed, 05/05/2010 - 09:19 | 332322 primefool
primefool's picture

The US is by far the best country in the world for the "low income" folks. really. Its a terrible system for high earners and the wealthy. The top people in many countries have a far better lifestyle than in the US. But as for clerical workers, plumbers and mechanics - any idea what it is like elsewhere? They would be grateful for 2 meals a day and a dry place to sleep. They most definitely dont even dream of owning an automobile let alone actually own a house. No credit cards , no credit period . A hard grinding existence.

Wed, 05/05/2010 - 10:54 | 332572 Cheeky Bastard
Cheeky Bastard's picture

WOW, just fucking WOW.

USA is a shithole [the majority of it] even compared to some countries like Bulgaria or Latvia. 

If you took the time and stepped out of your trailer in the past, uhhh i dunno, 50 years you would see that the USA is a fucking puddle of mud compared to most of Europe healthcare wise, freedom wise, quality of life wise, social net wise, taxes wise, etc etc etc. You are an entirely materialistic society concentrated solely on constant accumulation of goods and money.

But you go right ahead and live in you illusion that the USA is Utopia long awaited.

Just look at Detroit, St. Louis, New Orleans, LA and thats just the major cities. 

If anyone wants to move to some nice, calm, sleepy place, i recommend Mitteleuropa. 

Wed, 05/05/2010 - 18:30 | 333407 UncleFurker
UncleFurker's picture

 

> Its a terrible system for high earners and the wealthy.

 

Cough Hack. Say WHAT?


Wed, 05/05/2010 - 09:37 | 332370 Kreditanstalt
Kreditanstalt's picture

Although there is no death tax in Canada, all assets are re-assessed and taxed (heavily) upon transfer to your heirs.  You don't even need to die; this would I believe come into play even if you were to just GIFT your assets to your children...a death tax by any other name. 

Wed, 05/05/2010 - 09:39 | 332379 Kreditanstalt
Kreditanstalt's picture

There is another way to get a passport!  Either check out where your grandparents hailed from and obtain citizienship of that country, or marry a local from another country.

I've amassed two additional passports these ways and none of them are American.

Wed, 05/05/2010 - 09:48 | 332385 pan-the-ist
pan-the-ist's picture

Sarah Palin winning in 2012 or the TEA party member winning greater than 3% of congress is a signal that the end is near.  By that time Canada might not let you in.  I wonder if I would qualify as some sort of refugee.

Wed, 05/05/2010 - 18:32 | 333411 UncleFurker
UncleFurker's picture

 

Sarah Palin winning in 2012 or the TEA party member winning greater than 3% of congress is a signal that the end is near.

 

Sarah Palin RUNNING in 2012 is a sign the end is near.

Sarah Palin running in 2008 (and drawing cheering audiences) was a sign - did you miss it?

Wed, 05/05/2010 - 09:44 | 332400 doublethink
doublethink's picture

 

Very timely indeed. Thank you!

 

Wed, 05/05/2010 - 10:59 | 332583 BlackBeard
BlackBeard's picture

awesome.  I've been setting the ground work for this over the past year.

Wed, 05/05/2010 - 11:05 | 332597 Madhouse
Madhouse's picture

We pay $708 billion for "Defense", as part of the largest Ponzi scheme ever concocted. Yet, the idiocy is astounding. Michael Bloomberg was correct to be outraged that this latest terrorist almost took off from JFK. I have also screamed at my own Reps this morning until I was blue in the face. I ask however, how possibly did this guy not get flagged after flying to Pakistan and then coming back over here 5-6 months later ?  If the $708 (FY2011, up from $316 in FY2001) billion is going to be going anywhere, it needs to be tracking this guy and others from certain countries (the pattern is clear so let's cut the bull). And the Xmas Day/Detroit bomber ?  The animal's (anyone who tries to blow up a plane with innocent people is an animal, not a human) father begged a CIA agent to get him in Yemen and bring him in because he was cavorting with terrorists....yet the animal gets on a plane to the U.S. ? And this happens 5 months later ?  Go back to the 911 Report. Did anyone else read the first section and then want to punch his fist through the wall, frustrated at the sheer idiocy ? And still no perp walks for the SEC staff who spent their day looking at porn (Mr. President, you are way out of touch)? How about the idiots responsible for the no fly list ? I see, they get rotated into another job like some priest pedophile. Fire the SOBs !! This is 1/1000 of what could be written here. Anyone who lives in the Washington area reading this of course will be in disagreement. Everyone is doing well there as the bureaucracy keeps growing (runaway train) and everyone is on the payroll (leaches) in one way or another. Sure, there are some decent, smart Americans there trying hard, but the voices of sanity are becoming dimmer.

So, if you have some money, take the deal to get out. Go somewhere sane. It won't be too long before things catch up to you anyway, wherever you are, but at least you won't go mad in this madhouse.

Wed, 05/05/2010 - 11:29 | 332671 el Gallinazo
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There is more to picking your new country of choice than the tax code.  While it has a certain importance, the most important feature is the "education" of the people of a country, the word being used in the Spanish sense, meaning upbringing.  Cultural tendencies toward non-violent solutions and small community cohesion is very important.  These factors might be lost on a blog such as this.  I became an ex-pat this year and am still circling around looking for the best place to land.  Already have been in Oaxaca Mexico, Costa Rica, and currently in Boquete, Panama, and am now looking at Argentina.  I am a geezer with lower material needs than many here.

Wed, 05/05/2010 - 12:44 | 332797 Gromit
Gromit's picture

I visited Argentina last November, it's a vibrant and fun place. The economy may not be great but people are working and spending money. Certainly less street begging in Buenos Aires than in San Diego.

IMHO Argentina  is about as isolated from the US as possible, due to its trading partners and having already defaulted out of the credit expansion bubble. 

Also check out Uruguay, more stable, very civilized. You can live in Montevideo and take a hydrofoil trip to Buenos Aires whenever you want a little faster action.

Buena Suerte!

Wed, 05/05/2010 - 13:18 | 332851 el Gallinazo
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Thanks for your good wishes.  Cordova is the home ground of my novia and her grown children (she was born in Santiago), but we would take a good, hard look at Uruguay.  I have heard good things about it.

Wed, 05/05/2010 - 11:40 | 332686 Kaikoura
Kaikoura's picture

I'm considering moving to Alaska before they (inevitably) secede. It will be a new country that can fully embrace the libertarian concept of government. No doubt the US will not let this state out of the union easily, given its vast natural resources. Might get some mountain warfare training while I wait.

Wed, 05/05/2010 - 12:14 | 332743 Bolweevil
Bolweevil's picture

Why do rats jump first? Seriously, are they prescient, enacting an ingrained gift for survival that my "developed" cortex has lost or are they scavenging, parasite-ridden, cannibals with viral-like reproductive abilities?

Ful Disclosure: Non Kool-Aid drinking Long USA w/extended stays in South Central Europe

Wed, 05/05/2010 - 12:52 | 332810 Psquared
Psquared's picture

There's no safe place to go. None. It is all a pipedream. You are going to move to some Caribbean Island or 3rd world country? Why?

Yes, the US is run by the elite and the government is now a Corporatocracy, but all in all it is still the safest and nicest place to live on the planet. It seems to me those who are talking expat are buying a pig in a poke ... and probably more out of resentment than common sense.

Wed, 05/05/2010 - 13:00 | 332820 el Gallinazo
el Gallinazo's picture

Why?  I'll give you the long answer. Ever read Dmitri Orlov's "Reinventing Collapse?"  Dream on my friend.

Wed, 05/05/2010 - 18:36 | 333415 UncleFurker
UncleFurker's picture

 

> but all in all it is still the safest and nicest place to live on the planet

 

Safest? Since when?


Fri, 05/07/2010 - 21:34 | 337550 MaxPower
MaxPower's picture

I could never even get my own family to understand, internalize, and appreciate why I made the decision I made, so I don't know why I'm bothering here, but something about your comment just compels me to reply.

I expatriated two years ago after sacrificing two decades of my life upon the misguided altar of American hegemony courtesy of the US military. The mere act of leaving the US enabled me to go from being a debtor to having substantial savings in less than 12 months.

Moreover, while saving significantly more money, my family's quality of life has improved immensely. My 5-year old daughter has now been exposed to no fewer than four distinct foreign languages (Mandarin among them), and is able to tell ME the difference between a Singaporean Chinese and a mainlander.

She has developed a wider world view than my own 40-year old sister, who has never traveled outside the SE United States and does not even own a passport. She is able to integrate socially and culturally with many different people from disparate social, geographic, ethnic, and religious backgrounds.

As a family, we are able to visit many of the places most Americans will see via the Travel Channel. Instead of passively watching someone else enjoy life from your couch on the "nicest place to live on the planet," we are instead experiencing it for ourselves.

As for your patently absurd proposal that the US is also the safest place to live, I can only deduce that you never lived where I did in the US, including Atlanta, Newark, and other "safe" places of abode.

Seriously? Come on, even your own CIA will refute your misapprehension; just read their World Factbook for a lovely look at crime rates per capita. I just spent 18 months in Singapore, and my gorgeous, 32-year old Polynesian wife was at liberty to go running through the downtown business district and through parks at 9 or 10 pm, with her only worry being that a Chinese person might behave rudely or pick their noses in front of her.

I traveled and worked in over 5 dozen countries during my military tenure, so rest assured that I made my decisions from a base of knowledge and personal experience. I most certainly did not buy a pig in a poke and, while I understand your need to cast me in that light to make yourself feel better about your own personal decisions, I resent your assertions about me nonetheless.

In closing, I can only say that your statement smacks of personal ignorance. I do not mean that as an insult, I truly mean that you do not know what you're speaking of. I suggest you take a trip. I can suggest literally dozens of places that are just as safe, and very nice, as your lovely, well-insulated America.

I'm writing this from Malaysia, and I'm now going to go outside to enjoy a cup of tea, some kaya toast, and a couple of soft-boiled eggs for the equivalent of 1 US dollar. You keep living your dream, but please understand that it is not in alignment with my dream OR my reality.

Fri, 06/03/2011 - 19:00 | 1337920 goldsaver
goldsaver's picture

MaxPower, if I may be so bold, please contact me at my handle (at)groupG2.neomailbox.net

Would love to ask a few questions. Much oblidged.

Wed, 05/05/2010 - 14:07 | 332941 Common_Cents22
Common_Cents22's picture

Many many companies are structured to minimize taxes whether via incorporated in a different state or domiciled out of the country leaving bare bones operations in country.

I'm glad billionaires like buffet and gates can shield their money from the government in irrevocable trusts.  Our govt would be that much more reckless with their billions.  Own nothing, control everything.  

 

I think most hedge funds are in the caribbean, they pay taxes on the money they repatriate back into the country.

Even that man of the world, Bono, moves his business to minimize taxes.

 

Online businesses are an interesting area for starting/relocating elsewhere.  Looking into that a bit more.

Wed, 05/05/2010 - 16:11 | 333176 JW n FL
JW n FL's picture
Sustainable Insight - April 2010 

Some observers believe that there are a growing number of environmental and social factors that have a material impact to the business and should therefore be translated into financial value. Is this the time for an integrated approach to disclosure on business performance?

 

In this edition of Sustainable Insight we provide you with the key considerations on how to decide about integrating corporate reporting in order to close the loop of your organizational strategy.

  Download Now
Sustainable Insight - April 2010 

 

http://www.accountingforsustainability.org/home/

http://www.connectedreporting.accountingforsustainability.org/

Sun, 05/16/2010 - 11:48 | 354662 laosuwan
laosuwan's picture

This is an informative article but fails to mention an important alternative to renouncing citizenship. If you want to leave your American citizenship but retain your privacy, you may consider not renouncing citizenship at all. Once you have new citizenship in your country of choice just put your passport away in a shoebox or tear it up. Never apply for any benefits like social security (assuming they are still around when you are eligible for them) or have any contact with the US government again. Just forget about the US and eventually it will forget about you. Use your new passport; live your new life.

 

It is true that Americans commit a “crime: by not filing a tax return when abroad but it is also true that In order to renounce officially you must file a final income tax return that subjects you to criminal liability if you make a mistake or error. You also must disclose all your private details before they will “let you go.”

 

If you are paranoid, put your assets in your children’s’ names or in a trust. Change your name in your new country after a few years. Unless you are a fugitive or a millionaire I don’t think the government will spend too much time worrying about you.

 

By the way, it is not entirely certain that you must go through the official process to renounce. Look at the Bobby Fischer case; he renounced in a Japanese jail cell with an outstanding warrant and was able to get himself to Iceland (just in time to buy a home next to a volcano; nice one, Bobby). For a good video of how to renounce without filing the tax return or paying the fee, watch this …

 

See Saad Noah formally renounces his US citizenship for his life, liberty, and peruse of happiness.  http://www.youtube.com/watch?v=z_ARI-QmlOQ&playnext_from=TL&videos=4va6VPA3EpA

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