Internet Entrepreneur Shops for a Country

Internet Entrepreneur Shops for a Country

Written by Peter Diekmeyer, Sprott Money News

Ken Evoy is the kind of immigrant that most countries would love. The founder of Internet start-up Solo Build It!, which competes directly with WIX and GoDaddy, works ten-hour days, keeps his fingernails clean and gets along with neighbors.

Lately Evoy, a Canadian doctor who resides in the Caribbean, has been shopping to further geo-diversify his lifestyle.

“In a world in which people increasingly work from anywhere, many will start to look at countries as products,” says Evoy. “Like any offering, they will choose based on what appeals to them most.”

Evoy holds assets in several countries. These include the island of Anguilla as well as Panama, where he recently acquired property. He is also a big believer in holding between 5% and 10% of a balanced portfolio in physical gold as an inflation hedge.

Working half the year for government

The implications of Evoy’s “out of the box” investing strategies bear a closer look.

That’s particularly true in the U.S., where people now work more than half the year to pay their IRS obligations and other hidden taxes.

“I have never felt that any country owned me,” said Evoy. “I have always wanted to contribute. But I can create more value if I reinvest earnings in operating businesses rather than handing them over to politicians.”

The American government clearly disagrees. Recent administrations have been gradually turning citizens into de facto government property.

The IRS now revokes the passports of taxpayers it suspects owe back taxes. This strategy could easily be used on other groups.

America, like the former Soviet Union, also charges exit taxes on those who renounce their citizenship.

Peter Schiff, president of Euro Pacific Capital and a former U.S. Senate candidate, jokes that the main purpose of the border wall may (one day) be to keep Americans in, not Mexicans out.

A murky long-term outlook

While the number of Americans who renounced their citizenships fell slightly last year, due in part to the Trump Administration’s recent tax cuts, the longer-term outlook is less clear.

The recent U.S. budget will considerably grow the size of government, and ongoing trade negotiations are providing the Administration with unprecedented powers to pick winners and losers in the economy.

Both parties are to blame. However, the President is currently acting as a lightning rod for the discontent. “In the current environment, anything is possible,” says Evoy. “I’d be moving money outside of the U.S.”

Life in the islands: “live and let live”

Evoy is an archetype of The International Man described in best-selling author Doug Casey’s eponymous 1970s book.

However, Evoy credits James Davidson & William Rees-Mogg’s 1999 work The Sovereign Individual with crystalizing his thoughts. The Internet entrepreneur’s primary residence is on Anguilla, where he lives half the year with his wife and two daughters, both of whom are also entrepreneurs.

“In Anguilla I feel free,” said Evoy. “It’s very much a ‘live and let live’ place. Imagine a country where public officials debate whether they might have to enforce the seatbelt law.”

Big government: driving away talent

The de facto public policy implications of chasing a country’s most talented individuals away, particularly physicians and entrepreneurs, are staggering.

That’s particularly true in Canada, where emergency rooms and clinics are jammed, and the only people who get timely, top-quality care are those with connections within the healthcare bureaucracy.

Evoy no longer practices medicine full-time. However, according to one expert it is not uncommon for physicians to see 50 patients per day, or 10,000 per year. The loss of even one doctor is thus enormous.

Choosing your owner

However, entrepreneurs are fighting back. For example, Canadian Jeff Berwick, publisher of the Dollar Vigilante newsletter and organizer of the Anarchapulco free markets conference, lives in Mexico but also carries a second passport from the Dominican Republic.

“If you are going to be owned by someone, the next best thing to do is to choose the best owner,” Berwick says.

Evoy, whose overseas residences enable him to live tax-free, remains focused on helping other entrepreneurs minimize the implications of being state possessions.

Solo Build It! developers thus continue to refine new tools. Evoy claims that a recent study suggests that improvements to the technology enable users to build a high-traffic web-site ten to 100 times faster than competitor offerings.

“People need to free themselves from the concept of belonging to a country just because they were born there,” says Evoy. “If more people shopped around, this would force governments to make their jurisdictions more attractive and we’d all be better off.”

Internet Entrepreneur Shops for a Country

Written by Peter Diekmeyer, Sprott Money News

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Check out these other articles by our contributors:

A Path to Upgrade from Paper to Gold- Keith Weiner (16/07/2018)

Gold Bears Are Roaring Louder - Avi Gilburt (16/07/2018)

CHINA takes control of GOLD from the COMEX - David Brady, CFA (13/07/2018)

Eric Sprott discusses why there is truth in the "peak gold" theory - Weekly Wrap-Up (July 13,2018)

Comments

austrianboy Tue, 07/17/2018 - 14:08 Permalink

"The main purpose of the border wall may (one day) be to keep Americans in, not Mexicans out," says Peter Schiff, CEO of Euro Pacific Capital.

That line always makes me laugh ...

GeezerGeek austrianboy Tue, 07/17/2018 - 22:43 Permalink

Living in a place like Anguilla is great, as long as the bigger countries are too busy screwing around elsewhere. There is nowhere that is safe if China, Russia, the USSA or other big countries want what's there. Unless your little country, like the one in "The Mouse That Roared", has a world-dominating weapon, you are at the mercy of the big boys.

Enjoy it while you can.

In reply to by austrianboy

JibjeResearch Tue, 07/17/2018 - 17:44 Permalink

Europe is a liberal socialist region.

The Middle East is fucked.

Africa is shit.

ASEAN is homo.

S.America is fucktard.

That leave America is the best of the shitty world lolz ahahahha

Aussiekiwi Aussiekiwi Tue, 07/17/2018 - 23:52 Permalink

Oh yeah, the money is better as well and you get  4 weeks paid leave a year plus paid for public holidays, usually 10 days sick leave a year, maternity leave, bereavement leave, all paid for and a lot of other goodies you don't get in the good ol USA, American friends are often stunned at how good Australian employees have it in comparison to themselves.

In reply to by Aussiekiwi

Aussiekiwi Singelguy Wed, 07/18/2018 - 05:53 Permalink

Perhaps its because Australia does not spend 700 Billion a year wasted money on a huge military which has about a trillion dollars it cant even account for and does not have drug companies marking up a $10 vial of medicine to $800 with Congress turning a blind eye providing they are getting their cut from the pharmaceutical companies and lets not go near the oxycontin con, more people now die in the US each year from prescribed drug addiction than troops in the 19 year vietnam war, perhaps you just get a higher standard of living without all the corruption?......just a thought .

 

In reply to by Singelguy

Argentumentum Aussiekiwi Wed, 07/18/2018 - 07:38 Permalink

I scratched Australia off my list pretty early in my search for strategic relocation. Blossoming police state. Increasing water problem and desertification. Housing bubble about to burst. Too many poisonous creatures. This is just to name a few. Recently a couple (he is from New Zealand, she from Australia) arrived to buy land close to my place. Analysis based decision. Financially speaking, they could choose any place on earth, they chose Santa Catarina in Brazil. Smart people. So, if this guy does his due diligence, he should definitely consider the region I am talking about.

In reply to by Aussiekiwi

chippers Tue, 07/17/2018 - 19:52 Permalink

This guys business seems to be a website where for a fee he teaches other people to make their own websites...probably more then likely a scam.    

austrianboy chippers Tue, 07/17/2018 - 20:24 Permalink

I was wondering the same thing, because I have never heard of these guys, so I Googled them to do a quick check.

Not sure if it's a scam or not.

But Solo Built it! and it's predecessor SiteSell have been around for 20+ years.

Although there are critics everywhere there isn't any particularly negative stuff (legal claims etc...) about them immediately visible  online.....

In reply to by chippers

marsrecords Tue, 07/17/2018 - 21:21 Permalink

More scam articles

I remember this Sprott moron on some gold type website as a partner. His logo was right next to satanist Soros.

So this guy lives on Anguilla. A great "safe" place to be when the SHTF time comes. 85% black. Sure sounds safe for white people. Like in South Africa.

And he invests in Panama. Poverty. Gangs. Parasites. 

Then we see the pitch from the Agora Mafia ...Doug Casey...International Man.....ooohhh lets run away from America and move to "safe" South America and I am sure Doug can sell us something to tell us how to do it because we are too bloody stupid to figure it out ourselves.

And to prove this Canadian is totally brainless, he bought a passport from the Dominican Republic, the worst possible place to be carrying a passport from.

Is this the new dumb and dumber movie? 

Singelguy marsrecords Wed, 07/18/2018 - 05:31 Permalink

Your understanding of international finance and tax is simplistic at best. Just because he has a passport from the Dominican Republic doesn’t mean he lives there. It is simply a get out of jail free card. With the IRS confiscating passports for not paying taxes, that Dominican passport could be worth a lot. He probably has shell corporations set up there but parks his cash in a safe haven under the name of the shell corporations. The advantage of having passports in little shit countries is that they do not have resources to monitor the global activities of their “citizens” , nor do they want to because the vast majority are too poor to engage in such activities.

If you ever bother to do some research, you will soon discover this guy is not the dumb one. The dumb ones are the ones who do nothing and are sitting ducks waiting for the government to take everything they own (or think they own).

In reply to by marsrecords