| If you love living where you are now, then there | | | | required if you want permanent residency is an |
| is probably no need for you to move.However, | | | | investment of B$250,000 in a registered group |
| after reading this chapter, you may start to | | | | investment or B$500,000 in another investment. |
| develop itchy feet. The grass sometimes IS | | | | Temporary permits are valid for 1 year. Tourist |
| greener on the other side.What are the | | | | visas allow you to stay for up to 8 months of |
| advantages of moving? Basically that depends on | | | | the year.The only worry I have with the |
| where you live now and on how you want to live. | | | | Bahamas is global warming. The country is low |
| Moving to another country can reduce or eliminate | | | | lying and if the sea levels rise most of this |
| income, corporate and capital gains taxes. Now | | | | country may become Atlantis. The official |
| I've got your attention. Here is the BUT If you | | | | language of this country is English.3. The Turks |
| live in the USA you are taxed by your | | | | and Caicos IslandsThe Turks & Caicos Islands - lie |
| government on your world-wide income | | | | south east of the Bahamas.This country is a |
| regardless of where you live in the world. That's | | | | dependency of the UK. There is no income or |
| rude. It may still be tax advantageous to move | | | | company tax, gift tax, inheritance, property or |
| however. You won't get taxed twice. If you | | | | sales taxes.Living and residency here is easy. It |
| move to a tax haven where there are no or | | | | costs approximately US$2,000 for a permit to |
| minimal taxes you will still have to pay the IRS | | | | work or reside here. Don't even think about |
| but you won't have any paperwork to do in your | | | | looking for a job here, however.The country is |
| new home. If you move to a non-tax haven with | | | | democratic and the official language is English.4. |
| a double taxation treaty with the USA there are | | | | The Dominican RepublicThe Dominican Republic - ( |
| many options open to you usually for reducing | | | | not to be confused with the Commonwealth of |
| your taxable income. Talk to an advisor who | | | | Dominica) is one of the poorest countries in the |
| specializes in international taxation. I'm not an | | | | Caribbean. It is located east of Haiti and west of |
| accountant. I'm not even American so the US | | | | Puerto Rico.This country is democratic and the |
| taxation system is not something I am well | | | | official language is Spanish.All foreign earned |
| versed in. However, I do know that significant tax | | | | income is tax free here and you can live like a |
| savings are possible when properly structured.If | | | | king because everything is so cheap.If you are |
| you are a citizen of a country with a residency | | | | American, European, Canadian, British or Australian |
| based taxation system, and most are, then your | | | | and have an external income your residency is |
| tax saving opportunities are much easier. Just | | | | virtually guaranteed. After 2 years you can apply |
| move. Once you reside outside these countries | | | | for citizenship.5. St Kitts and NevisSt Kitts & Nevis |
| the tax departments no longer have any interest | | | | - is a small island group in the Caribbean north of |
| in taxing you. You only need to pay tax in the | | | | Montserrat and west of Antigua & Barbuda.It is |
| country you move to, if that country requires | | | | independent, democratic and English |
| it.Tax reasons are not the only reason to move | | | | speaking.There is no income tax or tax for |
| overseas. It isn't even the most important reason, | | | | offshore companies.St Kitts & Nevis has a very |
| saving tax is just a bonus.The real reason, and | | | | good economic citizenship program, but it is |
| only important reason to move is to increase | | | | expensive. This is the Rolls Royce option. It will |
| your standard of living. What you need to ask | | | | cost you US$250,000 minimum investment in real |
| yourself is this. What do you want? Does the | | | | estate, US$35,000 government fee for the main |
| place you live in now provide that for you? Do | | | | applicant, US$15,000 government fee per |
| you want a more laid back lifestyle? Do you want | | | | dependent, US$2,500 due diligence fees per adult |
| to be exposed to less crime? Do you want a less | | | | and US$15,000 in application fees. This will give |
| expensive lifestyle, but with more luxury? Do you | | | | you full citizenship and a passport within |
| want a warmer or cooler climate? Do you want | | | | approximately 3 months. This passport gives visa |
| cheaper real estate and no capital gains taxes? | | | | free travel to many countries as it is a British |
| etc. Only you know what you want. Below we will | | | | Commonwealth passport.6. The Commonwealth |
| explore some of the best places in the world and | | | | of DominicaThe Commonwealth of Dominica - ( |
| why. Perhaps one of these places will suit what | | | | not to be confused with the Dominican Republic) is |
| you are looking for.We will also look at the issue | | | | an English speaking, democratic country. It has |
| of economic citizenship. Economic citizenship | | | | been independent since 1978. Dominica is located |
| programs are made available by 2 countries | | | | south of Guedeloupe and north of Martinique in |
| presently. They are St.Kitts & Nevis and Dominica. | | | | the Caribbean.There are no income taxes or |
| These countries, in exchange for varying amounts | | | | company taxes. Dominica is also a nature lovers |
| of money, will give you instant legal citizenship | | | | dream. Dominica has a very good economic |
| including a passport. You are not required to live in | | | | citizenship program. It will cost you US$75,000 |
| any of these countries, but as a citizen you can if | | | | government fee for a single applicant or |
| you want to. The main advantage of these | | | | US$100,000 government fee for a family of up |
| programs is the gaining of the second passport. | | | | to 4 people. Due diligence fees range from |
| This is essential for world travel if your original | | | | US$15,000 plus US$700 per person. This will get |
| passport is from a country that has developed | | | | you full citizenship and a British Commonwealth |
| many enemies. For example, if your aircraft or | | | | passport within 4 months.7. The Cayman |
| cruise ship is hijacked by terrorists you may | | | | IslandsThe Cayman Islands - consists of 3 islands |
| survive if you have a St Kitts & Nevis or | | | | in the Caribbean north west of Jamacia and south |
| Dominican passport because nobody has an | | | | of Cuba.There are no income, inheritence or |
| argument with these countries. If you are | | | | capital gains taxes.You can immigrate here if you |
| carrying a passport from the US, UK or Australia | | | | have a spotless reputation and at least |
| you are screwed. Also another example is this, if | | | | US$150,000. You must be financially independent |
| you travel to Arab countries and also Israel you | | | | and not have to depend on the local ecomony for |
| will experience fewer problems with the custom | | | | an income.8. BelizeBelize - is paradise on earth. |
| officials in these countries if you use separate | | | | Belize is democratic, peaceful and there are no |
| passports with separate visas for entry into each | | | | taxes. It is English speaking. Belize is located in |
| of these countries. Another important advantage | | | | Central America bordered by Mexico and |
| of these passports is that they allow visa free | | | | Guatemala.Becoming a resident is relatively simple. |
| travel to a huge number of countries making | | | | If you stay for a year you are granted |
| travel easier than it may be on your current | | | | permanent residency. You just need to have your |
| passport. One of the most important advantages | | | | tourist visa renewed every 3 months for a year. |
| of a passport from these countries, however, is | | | | You must deposit at least US$2,200 into a local |
| the investment opportunities that it opens up. | | | | bank. After 5 years as a permanent resident you |
| Some investments are not open to the citizens of | | | | are eligibile for citizenship.You can easily live a |
| some countries. The 2nd passports discussed | | | | luxury lifestyle in this country without a lot of |
| here can be used to identify yourself to banks | | | | money.9. Costa RicaCosta Rica - is located in |
| and investment companies and so allow you to | | | | Central America between Nicaragua and Panama. |
| invest in these lucrative investments. These | | | | Costa Rica has has its problems over the years |
| economic citizenship programs will be discussed | | | | but things are improving and it remains a popular |
| further under the appropriate country | | | | retirement destination for many people.All income |
| listing.Peruse the following country listings and see | | | | earned outside Costa Rica is tax free.To gain |
| if any of these options fit your goals. My | | | | residency you must be able to prove you have |
| argument regarding residency is this. To live a | | | | an income of more than US$1,000 per month. |
| luxury lifestyle you need to earn more and spend | | | | You just need to have this income exchanged |
| less whilst improving your standard of living. | | | | into local currency at a local bank and present the |
| Moving to a tax haven, I believe, is essential. | | | | receipts to the Tourisn Institute every 2 years to |
| Reduce your tax and buy what you want | | | | renew your permit.This is another country where |
| cheaper. There are many fantastic places in the | | | | you can live like royalty with little money. Costa |
| world you can move to and even save tax in, but | | | | Rica is a Spanish speaking democracy. English is |
| many are expensive. Examples of these are | | | | widely understood though.10. PanamaPanama - is |
| Australia, New Zealand, Canada, USA, Bermuda, | | | | located in Central America between Costa Rica |
| Ireland, the UK, Andorra, Campione and in fact | | | | and Columbia. Panams is a well established |
| most places in Europe are a nice place to live. You | | | | international financial centre with very attractive |
| have to be quite wealthy to live the luxury | | | | residency possibilities.Panama is a Spanish speaking |
| lifestyle in these places. If you are quite wealthy | | | | country where English is well known.Income |
| check them out. If you are moderately well off | | | | earned from outside Panama is tax free. This |
| then you can leverage what you have and acquire | | | | democracy is a first world country and Panama |
| a luxury lifestyle by moving to the countries I | | | | city could be mistaken for Miami.Panama has |
| have highlighted below. Almost all of these | | | | three residency options:The Panama Investor |
| countries have first world products and services | | | | Immigration Program requires an investment of at |
| at reasonable prices.Here we go.1. | | | | least US$100,000 in a new company or business |
| VanuatuVanuatu - is a group of islands north of | | | | or in any business in the country employing at |
| New Caledonia, southeast of the Solomon Islands | | | | least 3 Panamanian citizens. The investors must |
| and west of the Fijian Islands in the South | | | | be directors & officers of the company. OR, you |
| Pacific.It is a beautiful, peaceful country and has | | | | can invest US$40,000 in a reforestation project. |
| been independent since 1980. If you would like to | | | | After 5 years with this residency permit you can |
| move there you are required to make a positive | | | | apply for Panamanian citizenship and passport.The |
| contribution to the economy. This means investing | | | | Pamana Retiree Residence Program requires you |
| US$50,000 in an approved investment and also | | | | to invest enough money in a term deposit at the |
| lodge an immigration bond to pay for your | | | | Banco Nacional de Panama to generate at least |
| repatriation should you make a nuisance of | | | | US$750 per month in interest for a minimum of 5 |
| yourself. You can opt to invest the US$50,000 in | | | | years. You can also receive a non-citizens |
| real estate, however, you cannot own land there. | | | | passport that is good for travel. This program |
| You instead purchase a 55 year lease that is | | | | does not lead to citizenship.The Panama |
| renewable.The people of Vanuatu speak Pidgin, | | | | Pensionado Residence Program requires you to |
| English and French. The country is democratic and | | | | prove that you receive a pension of US$500 per |
| there is no income tax.2. The BahamasThe | | | | month minimum from any government or private |
| Bahamas - are a group of many islands | | | | source outside of Panama. This program does not |
| south-east of the US and north-west of Cuba in | | | | lead to citizenship. It does however, entitle you to |
| the Caribbean.This is a democratic, income and | | | | many discounts country wide.Dr Gregory Lipke is |
| company tax free country renowned for its | | | | the CEO of Cyber Publishing Ltd. He has a |
| tropical beauty. It is also one of the few countries | | | | Doctorate of Business Administration & a |
| in the world where you can buy your own tropical | | | | Bachelor of Science as well as years of |
| island.If you wish to reside here, permanent and | | | | experience in Private Investigation, Personal |
| temporary residency permits require the payment | | | | Protection & Security. He is the author of Your |
| of approximately B$1,000 for the head of the | | | | Luxury Guide . |
| family plus B$20 for each family member. Also | | | | |