Leaving America Redux: Sovereign Man's "Next Steps" Guide To Expats-In-Waiting

Tyler Durden's picture

The musings of Simon "Sovereign Man" Black, whose prior post about leaving America as the only intelligent way to lead a noble fight against crony capitalism and a corrupt regime, provoked a very spirited conversation, received well over 20k reads, indicating this is a very sensitive topic to many potential expats currently on the fence about abandoning this once great country. Today, exclusively on Zero Hedge, we present Black's follow up thoughts on the topic of expatriation as the noble way of winning the fight with the "mob-installed government beast", by avoiding the fight entirely. For all those who are considering pulling the cord on abandoning an increasingly oppressive regime where the concept of liberty is now whispered about with the hushed tones of increasing nostalgia, here are some suggestions on what one's next steps may be. If nothing else, this should certainly engender another possibly combustible discussion on the benefits of passive versus active patriotism.

(Incidentally, Black's daily musing from various known and unknown corners around the world are extremely informative and entertaining, and we suggest everyone who wishes to get an unbiased perspective of the world to subscribe to the Sovereign Man's free newsletter - link).

From Simon Black of SovereignMan.com

Writing today from Sydney, New South Wales, Australia

Freedom, independence, and awareness are undoubtedly in decline in the western world, particularly the US.  In the last 10-days, Homeland Security has started seizing Internet domains from 'rogue' webmasters, and TSA has begun labeling dissenters of its new security procedures as domestic extremists.

It's as if the government's actions are being ripped from Atlas Shrugged and 1984... and yet the trend, at least for now, is still more government control, fake security, and reduced freedom.

Earlier this week I published a controversial article about the nature of patriotism. In the article, I suggested that when you find yourself increasingly isolated from your country's declining values, it's probably time to pack up and head somewhere else.

Many people found this idea to be cowardly and weak. Obviously I believe the opposite to be true. One of the most difficult things you could ever do is pack up your life, leave everything familiar, and head to a new world full of uncertainty.

Just about everyone reading this had ancestors who did just that. These were not cowards, they were pioneers; they were trading tyranny for opportunity, heading to a land full of bright prospects where they could carve out a life accountable for their own successes and failures.

Granted, we have it easier today than our pioneering ancestors... but leaving behind the familiarity of home is still a difficult concept for most people to commit.

It's like staying in a bad marriage or dead-end job... people do it because their paralyzing fear of the unknown is often greater than the routine misery to which they've already grown accustomed.

Taking action requires a catalyst, and that's what we're experiencing today-- perhaps a mother who watches a government agent fondle her child, or an entrepreneur whose assets are wrongfully frozen, or a student who realizes that social security will no longer exist when she hits retirement age, etc.

One by one, people will wake up and consider their options. "Stay and fight" is just a bombastic rallying cry of the institutionalized, not a real option.  The fact is, there is no enemy, there is no fight... there is only gradual erosion of freedom and opportunity.

Unable to change what we cannot control, productive people will eventually reach a breaking point and leave. The "stay and fight" crowd who remain will congratulate themselves on their patriotism, chastise the "cowards" who have left, and resolve to go down with the mob-mentality, mafia-controlled sinking ship.

This is neither honorable nor courageous, and unless you see Davy Crockett staring back at you in the mirror, the "stay and fight" crowd should question their own actions first-- what are you doing to change things? Who exactly are you fighting?

Here's the bottom line: your country is controlled by a very small group of people, and you're not one of them.  You cannot control the  machine, you can only control where and how to invest your time. Fortunately, there are a lot of options around the world for the open-minded.

One commenter this week lamented, "Leave to where? Guatemala? Panama? What other hellhole can you name, and what do you do when you get there? Raise chickens?" as if every other country on earth is a 'hellhole' with no economic prospects for talented, creative people.

Stop listening to what Sean Hannity tells you and see for yourself, the world is full of opportunity. I've traveled to around 100 countries and done business in dozens-- some of my favorites:

Chile: the new America. Strong, independent, civilized economy, you'll think you're in Europe given how modern it is.

Singapore: Too much to say here... you need a job? They're hiring. You need capital? They're investing. You hate taxes? So do they.  Singapore is ideal for families, and obtaining residency (and citizenship) is simple.

Colombia: Forget everything you've ever heard and go see for yourself. With similar geology to Venezuela and peace at hand, the country is poised for a bonanza.

Sri Lanka: Ditto, except that the Sri Lankan government is bending over backwards to provide some of the strongest investor incentives  I've ever seen. Oh yeah, it's one of the cheapest (and most beautiful) countries in the world.

Malaysia: Peaceful, beautiful, cheap, and thriving, Malaysia will constantly surprise you and exceed your expectations for its modernness and opportunities.

Estonia: With its flat tax structure, streamlined government, and brilliant work force, Estonia provides ample opportunity for entrepreneurs, particularly those looking for entry into Europe's harmonized customs union.

I could go on-- Brazil, Indonesia, Uruguay, Tanzania, China, etc., but you get the idea. Sure, you could pick apart any country for its faults. I call these the 'yeah, buts' as in "Estonia? Yeah, but it's cold." It's not going to look like Black Friday shopping in Topeka, but the idea is freedom and opportunity, and once on the ground, you'll feel it.

In case you're geographically constrained, you can still take steps to increase your freedom. Start by moving some money to an overseas bank account, and store gold in an offshore vault-- this safeguards your wealth from government bureaucrats who could otherwise freeze or confiscate your accounts on a whim.

Also consider buying some land overseas, even if it's just a small piece.  This is a great way to move money, and it gives you a starting point if you ever need a place to go.

Remember, these options are not exclusive to the wealthy-- anyone who is willing to reject institutional programming can find opportunity overseas or start protecting what they have at home; it takes an open mind, creativity, readiness to learn new skills, and the will to act.

 

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Future Jim's picture

One reason to leave is to escape the ridiculous debt being forced upon us.

However, there is always default ...

The American government has been spending trillions of dollars on programs it had no Constitutional authority to create, and such unconstitutional expenditures exceed the amount of the federal debt. Therefore, the federal debt is unconstitutional, and given that the US Constitution is pretty simple, then anyone who loaned money to the US government should have known that they were loaning money to a fraudulent enterprise and thus should not expect repayment.

Ha! Ha!

Nanner! Nanner! Nanner!

Of course, there would be a huge consequence – no one would be willing to loan money to the US government again until it started obeying the Constitution, which would be ...

Good!

http://www.endofinnocence.com/2010/09/us-federal-debt-problem-solved.html

 

detersbb's picture

I like the way you think, but do you have a brith certificate?  Did your mother register you when you were born?  Has you body been pledged as biological collateral against the US debt?  Has your labor been bonded and sold on the NYSE?  If so your argument is silly at best dangerous at worst.  You might want to do a little research on the US CON-stitution and the UCC.

Herd Redirection Committee's picture

Lets not forget, leaving is the last resort.  Raising awareness of the benefits of default has much greater benefits, if you actually plan on staying in America.

Every nation is in a position where it would benefit from default.  The reason it doesn't happen?  Because the Oligarchy wants to remain in control, obviously!  Just cutting everyone loose from their debt obligations isn't going to do much good for those who WANT to keep humanity enslaved!

I have a lot of faith in my fellow man, so even though you occasionally feel  a little embarrassed by a few of your country men does not mean it is time to give up on humanity, entirely!

Check out our latest PsychoNews Update, 12/1 Edition, "This week's PsychoNews Update will start with a short anecdote from history. The year is 1815, and Napoleon has just been defeated at Waterloo.  There is a blockade on the English Channel, but a ship belonging to a certain banker named Rothschild is allowed through.  The Rothschilds are already prominent bankers, but they are on the verge of their greatest ever 'trade'. "

http://psychonews.site90.net

flacon's picture

Here is a web site that helped me out tremendously when I finally decided to leave the USSA:

http://www.expatforum.com/

 

PS. Don't forget, that as an American Citizen they can tax you no matter which country you live and work in. Eventually you will want to seek secondary citizenship somewhere else (the moon?) where there is economic freedom. 

Future Jim's picture

The Moon is a Harsh Mistress.

Dapper Dan's picture

But what about the cracking good cheese Gromit?

Oracle of Kypseli's picture

Not necessarily true.

Here are the details:

  1. Most countries have tax treaties, therefore tax will not be paid in the US.
  2. Working oversees gives you an $85k exclusion as long as you do not stay in the us more than 35 days/year. thus, you will only pay in the excess and on your US holdings and other income (non salary) if you have.
  3. Oversees companies (unless they have a US presence will not issue 1099's or W-4s. Therefore your reported income is by your declaration. (Help yourself.)
  4. In the event that you are hired by a company Japanese, Australian, Canadian or other country to work in a project outside that country, if the assignment is for two years or so, you can be a perpetual traveller and pay taxes nowhere. In and out of the country on business visa every 90 days. If you need to pay some taxes in the local government, negotiate it.
  5. Better yet, get a self company and open an account in the company's name in a tax haven and have the company wire the money there.

I have done all of the of above without breaking any law. Worked on four continents already. All you need is 2 suitcases. Especially if you only work in warm weather countries. Freedom galore. 

 

flacon's picture

Yep. Good post. I'm just making people painfully aware that the USA is only one of two countries which taxes it's citizens (under conditions) if they live and work away from the home country. The other being the Philippines (unless things have changed since I remember them). 

 

Oh, and $85,000 might not be enough to buy a loaf of bread in this new "post-Marxian utopia". Just a thought! :)

Kopfjager's picture

I think the 85K exclusion went up to 91k this year.  Also check on the per diem in your country.  I end up paying only social security and a few other things.  

 

 

flacon's picture

Get this, I have a neighbour who is an American Citizen and she has NO SOCIAL SECURITY NUMBER! I almost dropped dead! I had to register when I was 18 and living in Germany, but SHE escaped all that "draft" stuff. I told her never to get a SS number. 

TO's picture

not sure about this year, but last year my exclusion was 90,400. they make you add back in what the company pays for your housing and food, but it is self reported of course.

couple other comments on the article:

1) i live in Colombia now and am married to a Colombian who i met in Houston. If you look at the cycle of nations and all the problems they had in the past, Colombia is definitely on an upswing. The free trade agreement that never passes the Democrats side of the aisle would help even more. Most things are expensive if you want U.S. quality, but you can find many things for less. Beautiful country. Land and buildings are where most people invest. borrowing costs here are very high so most people pay cash. This eliminates the "no skin in the game" BS that killed the U.S. housing market with speculation. Taxes running a business are complex. I'm a project mgr implementing an ERP system. Most people play games dodging taxes if they can. So it is not all gravy.

2) Singapore - personally my favorite place in the world.  Housing and vehicle costs (if you own your own car) are killer, but i suppose if you can swing the purchase price, then there is probably not a better place to live in my mind. There are just too many positives: lack of crime, good public transport, they limit the #of vehicles on the road to reduce traffic problems, cheap taxis, beautiful land, near many amazing vacation places, financial and trade hub for Asia, etc.

3) Brazil is the most complex place to do business that i've seen or heard of. The taxes boggle the mind, but like colombia, most people simply don't comply with the law. but if you run a business it is very difficult. I also heard it is very difficult to open bank accounts - even for expats living in-country. Not 100% sure of that last part. I move there mid 2011.

 

While i'm working i just keep taking notes to see where is best to go when this gets old.

RKDS's picture

Can't you just taste the irony in this post?

You like Columbia, but the business taxes are complex.  Isn't that what every robber baron in America is screaming about?  Wah, business taxes are too complex, wah!

You like Singapore, but housing and vehicle costs are killer and they limit the number of vehicles on the road.  Aren't high housing prices killing the American middle class?  If taxis are cheap, doesn't that infer that vehicle ownership is expensive due to fees and taxes?  And where in America is mommy government dictating when/if I'm allowed to drive?

You like Brazil but, oh, wait, complex business taxes again.  All in all the same problems as Columbia from the sound of it.  Oh and with the added plus of it being very difficult to open a back account.  I can't wait to escape terrible America to move to this paradise!

AbandonShip's picture

You're pointing out the "yeah, buts".  Singapore has a huge vehicle tax because they don't want everyone to own a car since it's an island and could get easily congested and turn into Mumbai.  So they've gone ahead and created THE BEST public transportation system in the world (I've been there recently and witnessed it myself. Clean, Safe, Freqeuent, Efficient and Comfortable) and the taxis are cheap since you don't have to go very far to get to the interesting places on the island.

Overall an EXCELLENT place to consider living for anyone in general and especially if you are more well off (say $200k+ income) as the barriers to asset ownership like cars and housing becomes less formidable. Plus the place is spotless, virtually crime-free and has many nice attractions (Google "singapore esplanade" for example).

Don't make decisions till you've actually seen or been to these places, you're selling yourself short and throwing out a lot of potential value for you and your family.

Kopfjager's picture

Sure, I have property overseas and I work overseas but everyday I dream of being able to come back to the US and work.  

Thing is, this is exactly what "they" want us to do.  They want us to run for the mountains and leave the scene.  

It's a backup plan definitely but between now and then, I plan on being loud as hell.  Maybe its the crowd I hang out with but the principles of liberty are very strong in the younger generations.  

AbandonShip's picture

It's gotta be the crowd you hang out with.  Anyone under 30 that I've ever ran across (including my younger siblings) have absolutely no clue what the hell is going on with their country or care to learn. (How's that younger generation voter turnout trending?) 

Just change the channel to ESPN or some stupid reality show and they're tuned out. They glaze over even when I try to explain things to them S-L-O-W-L-Y.

That's one reason I'm looking for the exit. I don't have faith in my own generation (or younger) to fix things my dad's generation broke. I think the Economist ran an article on the upcoming inter-generational war.  Me thinks we're there today but unfortunately my side is outmatched.

From the 04 MARCH 2010 print issue:

"Another of these fights will be between generations. In America the biggest medium-term budget busters are pensions and health care for the old. A big deficit may ease the economic pain in the short term but risks saddling the next generation with a growth-sapping burden of higher taxes and interest payments"

So where's that exit again?

DosZap's picture

Kopfjaeger,

I dig your handle............I am sure you know where it comes from, and what branch uses it.

I agree, wanting to stay and fight the good fight is in my blood.Leaving is (at my age) preferable, but too much nuclear younger(most your ages) familiy members would be left behind.(by choice)

Due to being clueless, and will not know a thing until it hits them dead in the face.They will not listen to me,everyone is sick of my warnings.Even the one's I told 5-7 yrs ago what was coming, and are witnessing it.

Still are Ostriches.

Here is the LATEST move of the fascists to gain real control,over things none of can live without.

President Obama wants to control all the land and all the water in the United States.

Legislation that would have deleted the word "navigable" from the federal Clean Water Act and given the EPA and Army Corps of Engineers jurisdiction over every drop of moisture in the country crashed and burned last Congress, ending the 36-year congressional career of its lead sponsor, Jim Oberstar, in the process.

But Obama's EPA, as usual, won't take no for an answer, and is now attempting to ignore two Supreme Court decisions, commonsense, and the American people and vastly expand federal Clean Water Act jurisdiction via a guidance document.  A bipartisan group of 170 members of Congress told them not to, but they are doing it anyway.

If the EPA and Army Corps succeed, they can exercise effective control over all land and water in the United States.  The green groups are fired up and pouring comments into the docket supporting this outrageous power grab, and we need to fight back.

Click here to tell the EPA and the Army Corps to STOP their back door assault on private property rights.

The docket closes on July 31st, so there is no time to spare. Please take action today!

Sincerely,

Phil Kerpen
Vice President, Policy
Americans for Prosperity

 

 

Xedus129's picture

Hmm, Chile sounds nice.. might have to brush up on my espanol!

Rogerwilco's picture

Chile is nice, modern roads, clean water, good sanitation, almost any climate you can imagine from desert to rainforest. California upside down. Don't worry too much about brushing up on your high school Spanish, what they speak down there only vaguely resembles what you'd hear in Madrid or Bogota.

UncleFurker's picture

 

Santiago also has a modern underground transport system which is a pleasure to travel on.

 

And beautiful women always keen to practice their English.

 

Village Idiot's picture

 

"Hmm, Chile sounds nice.. might have to brush up on my espanol!"

Chile is wonderful.  We ended up there on accident back in 2003.  We stayed in the "lake district" longest - it was heaven.  Worked up an exit plan on a napkin while flying back to the states.  We still talk about it to this day.

detersbb's picture

Is there any way that I could get into contact with you about Chile.  I have been contemplating moving for several years now and see things going to hell in this country and would like an out, but would like to know more.  I would very much appreciate hearing anything you have to say.

xPat's picture

Go to www.ChrisMartenson.com, and search the forums for "Getting Out", the topic where we discussed this subject at length almost a year ago. There was a woman there who moved to Chile and loves it. She had plenty of helpful information (posted in the Getting Out thread) to share about the place.

 

xPat

Oh regional Indian's picture

Anyone with genuine skills or a largish saving stash can consider India too. It's a fascinating place to be, difficult also, but if you like Chai, you're off on the right footing.

Many jobs to be had if you are willing to work on Indian Wages (which are high right now, and allow for a very comfortable lifestyle).

I think Americans or whites in general need to re-adjust their attitudes regarding foreign countries and people and be willing to come as equals, not superiors. If you are past that little hitch, half the problem solved.

If anyone is considering India as a possible work/investment/retirement destination, feel free to get in touch.

Life on a Tea or Coffee plantation can be quite rewarding. ;-)

ORI

http://aadivaahan.wordpress.com 

Parth's picture

Hi Indian,

I really cannot recommend India for retirement or casual relocation. India is much too difficult a country for Americans to adapt too, and the infrastructure is very poor. Not to mention the crowds etc. India is a destination for one reason only.

Primarily a lot of IT jobs are available. Anyone looking for a job can move to India due to so many jobs- We just hired an H-1 and he says its raining jobs in INdia, companies from UK, Germany, USA, China, Japan, Norway, Sweden- everybody is hiring in India -thats the one and only reason to move there.

Kiwi Pete's picture

I would have to agree with Parth. I travelled around India for 6 weeks a few years ago and totally loved it. Such a rich and facinating culture. But to actually live and work there year round is a whole different thing. The cultural differences are just too great. My advice to anyone thinking of emigrating is to go somewhere as similar to your own country as possible. I have lived off and on in the UK for many years and find them hard enough to deal with. The only other country I would consider long term would be Australia.

Citizens of the US would also find it pretty hard to emigrate to NZ in my opinion. It seems the same from a distance but when you get here it isn't. For one thing there's very few other Americans here. That may sound great when you're emigrating to leave your countrymen behind but the reality is you tend to get on best with others of your own nationality.

 Alot of people from the UK emigrate here for the 'good life' and end up going home after 5 years. The pull of family and friends cannot be underestimated either.

squexx's picture

I left the USA for good in 1995. Have only been back 3 times for short visits!

DavidPierre's picture

'I left the USSA for good in 1970.  Have only been back a few times for short visits.'

Just got to laugh at all the hemming and hawing about getting out of that stink hole of  fascism. 

The best advice I ever got was from John Prine! 

Forty years ago ...

"I was just a soldier on my way to Montreal"... 

- Spanish Pipedream

http://www.youtube.com/watch?v=whpf4Xs2ww8&feature=related

- Sam Stone

http://www.youtube.com/watch?v=z-fc2j38Ab4&feature=related

- Hello In There

http://www.youtube.com/watch?v=H_PbfxNsdZs&feature=related

"We lost Davey in the Korean War"

"All the news just repeats itself...

 Old people just grow lonesome..."

 

It looks to me like most of the people with get up and go have already got up and went.

 

 

Popo's picture

Simon leaves out one very important fact: you cannot escape US taxes by being an expat. You must relinquish your US citizenship to free yourself from the burden of US taxation.

Just living somewhere else doesn't actually do much for you - you have to take the full plunge and kiss the blue passport goodbye.

CPL's picture

With them making sure everyone gets a solid ass pat in a BUS STATION now by the TSA.  I think a lot of people are understanding that writing is on the wall.

 

Save your money and split.

 

http://www.youtube.com/watch?v=X4G-0g9PRrE

 

//sitting on a deck chair watching half of it burn...getting another beer and taking note of names and locations of those in wikileaks.

A Nanny Moose's picture

That's a shitload of acronyms.

Accidental Farmer's picture

Or you can dump your citizenship (lower case "c") and reapply for your blue passport as a US National not a citizen. Everyone assumes you have to be a citizen to have a passport. Almost none of you even qualify for citizenship or a social security number. A citizen is a resident of Washington DC, Guam, Puerto Rico, etc. Most of us were duped in to citizenship through mass ignorance.

Popo's picture

AF - I am an expat, and I plead ignorance to the above. Where can I learn more about that? Thanks - Popo

alpha60's picture

AF, i also have no direct knowledge of this, and would be very interested to see some more info on this. i am skeptical, especially if you are a citizena and give it up with any capital to speak of. 

can you add some links, info?

around '93, a number of high flying US biznessmen gave up their citizenship to avoid taxes, took bahamian/irish/etc passports, and the IRS together with Congress came up with a nice package of laws that essentially makes it impossible for you to get out with any money, and ever come back (as a toursist). if you got nothin, probably easier.

the last guys out left before 95, are now reaching their 70-80's,

http://www.escapeartist.com/library/article7.htm

and fly in for short term trips, but can't stay more than 60-180 days (the numbers i cannot recall exactly, but there are limits on single trips and total time per year.)those afterwards face this:

http://inclusion.semitagui.gov.co/Subjects/LawAndGovt/Citizenship/Anddon...

also, what is an american national but not citizen? can a 'national' with a passport travel freely internationally, apply for visas in another country? get a bank account? does a national have restrictions on being on US soil. 

popo is totally right that all us citizens regardless of their place of residence are required to pay taxes on all income. 85k is the expat waiver now, it has been attacked once in the last 5 years unsuccessfully, but could easily be repealed. expats vote even less than local americans, why not screw them on their taxes? - even though they get almost no benefit from them.

Accidental Farmer's picture

When you are born on US soil, you are a US National. When your gullible sheople parents buy in to the bullshit that they need to sign you over as a slave to the state, they register you for a birth certificate and social security number. This turns you from a first class Citizen to a second class citizen.

SS numbers are only for government employees, or people born or residing in Washington DC or other territories.

The Federal government has expanded their territory using tricks like Putting a federal mail box on your property or getting you to use zip codes which makes you acknowledge federal juristdiction. It's a pretty deep rabbit hole, but the long and short of it is this:

The constitution applies to the land on which you are standing. If you are here, you have constitutional rights under common law. If you are a citizen, then you basically have no constitutional rights because you were not born here and accepted citizenship (as a subject of congress) as a condition of being allowed in, or you were a US National, and surrendered your constitutional rights in favor of statutory priveleges.

This is why Mexicans who are here illegally can drive with no license and get away with so much that you would be nailed for in a second. They aren't subject to statutory law because they aren't citizens. Only common law applies to them. Under common law, there has to be an injured party to impose a fine or punnishment. They get pulled over without a seat belt on, and nothing happens. There is no injured party, and the whole seatbelt racket only applies to people who surrender their contitutional right to travel freely for the privelege of a driving license that makes you subject to the BS tickets.

The 14th ammendment created the juristic entity, or fictitious entity. Your birth certificate is the title to your fictitious entity with the same name as your birth name but in all capitol letters. It is this "corporate you" that gets the ticket, and gets sued in court. Only a fiction can do business with another fiction, so if you don't have a birth certificate, then the po-po cant "contract" with you.

There are a million places online to read about this stuff, but I think that they will shut it all down soon.

You can google a couple of these topics to lead you in the right direction:

ucc 1-308

strawman

http://sedm.org/Forms/MemLaw/WhyANational.pdf

Thisson's picture

The info posted above concerning ucc 1-308 is a bunch of bullshit.

Sincerely,

Thisson

(An attorney familiar with the Uniform Commercial Code).

Accidental Farmer's picture

I forgot to mention that you have to learn the law yourself, and not rely on attorneys. If you show up to court trying to defend your rights with an attorney, you've already lost.

Also google sui juris

Popo's picture

Simon leaves out one very important fact: you cannot escape US taxes by being an expat. You must relinquish your US citizenship to free yourself from the burden of US taxation.

Just living somewhere else doesn't actually do much for you - you have to take the full plunge and kiss the blue passport goodbye.

Rogerwilco's picture

Uncle Sugar is way ahead of you. Since ’08, capital controls have been in place for those suspected of leaving for tax purposes, and anyone renouncing their citizenship. It is becoming very difficult to open a foreign bank account because Treasury and the IRS have been busy inking anti-terror, trade and tax agreements that require foreign banks to share information about U.S. accounts. To avoid this hassle, many banks just refuse to open accounts for Americans. That means you get to live on the $250 a day you can pull from ATM machines. Maybe that's OK if you're a tourist, not so great if you want to rent an apartment, buy a car, etc.

Buying property is (for now) still a legitimate way to get money out of the U.S. Making it earn a reasonable return, well that's another story.

ILikeBoats's picture

That is not exactly true.  If you can live somewhere else (330 days outside the USA per year) where you earn less than $90K a year and still be happy with that, and your net worth is under (I think) $2 million, then you are exempt from US taxes even while still a citizen.

Dapper Dan's picture

This is from the treasury web site today, I think we can forget about going to Panama.

 

November 30, 2010
TG-982

U.S., Panama Sign New Tax Information Exchange Agreement

WASHINGTON – In a ceremony at the U.S. Department of the Treasury today, Treasury Secretary Tim Geithner and Panamanian Vice President and Minister of Foreign Affairs Juan Carlos Varela signed a new tax information exchange agreement (TIEA) between the United States and Panama.

"Today, we are ushering in a new era of openness and transparency for tax information between the United States and Panama" Secretary Geithner said.  "This bilateral agreement to provide for the exchange of tax information between our two countries reflects the commitment of the United States and Panama to the importance of transparency of tax information."

Upon entry into force, the new TIEA will provide the United States with access to the information it needs to enforce U.S. tax laws, including information related to bank accounts in Panama. 

The TIEA will permit the United States and Panama to seek information from each other on all types of national taxes in both civil and criminal matters for tax years beginning on or after November 30, 2007.  Information exchanged pursuant to the TIEA shall be used for tax purposes, although the information may also be used for other purposes as permitted under the the provisions of the Treaty on Mutual Legal Assistance in Criminal Matters between the United States and Panama as long as the tax authorities of the country providing the information consents to such use in writing.  

The full text of the TIEA and the TIEA Joint Declaration can be viewed at the links below.

Al Gorerhythm's picture

US taxation dept = Citizen Ringnet

nmewn's picture

Bummer...Panama was on the short list.

Tsunami Effect's picture

Try Nevis. Btw, if you have kids, they get a free call option. When they turn 18, they can come back and say mom and dad are nuts. We want to be citizens again! By then all of your assets will have safely been placed in trust away passed on tax free! And what, you can only be in us 180 days a year?

Here's plan b
1. Expatriate
2. Try new country. Stay if you like it. If not...
3. Enter country illegally through Mexico and start all over again!

tpberg7's picture

This is good and will work well.  The southern border is very porous.