Offshore investing, tax free investing, dual citizenship

Date:   8/12/2005 8:28:25 AM ( 19 y ago)

VANCOUVER, BRITISH COLUMBIA.

Dear A-Letter Reader:
I am writing to you today from Vancouver, British Columbia at the Agora
Wealth Symposium, an annual gathering sponsored by the publishing
company of which the Sovereign Society is a part. I am speaking today on
offshore asset protection and dual citizenship, along with my colleague,
Sean Brodrick, Investment Director for the Sovereign Society who is
talking about the many profitable investments available offshore. As
many times as I have visited Canada, as a Yankee from the south, I
always have found a warm welcome from our northern neighbors, that in
spite of the fact that national polls in both our nations have shown a
wide divergence on many issues, such as the Iraq war.

You may recall that after the 2004 US presidential election there were
press reports that claimed the number of US citizens submitting
applications for Canadian citizenship had increased four times the
normal amount after President Bush's re-election. The Canadian
government' s immigration web site also reported a surge in inquiries
from the US, to about 115,000 a day from a previous 20,000.

Since about 6,000 Americans applied in 2003, the increase could have
meant as many as 18,000 disaffected US persons were planning to head
north permanently. Well, it never happened, but it made a good story at
the time.

Those reports claimed that many of these would-be departees were
disgruntled liberals who just could not abide George Bush in particular
and political trends in America in general. Historically, an exodus by
Americans unhappy with events in US politics has many precedents.
Tories who supported England's King George III during the Revolution
made up a prior wave headed north, and both Bermuda and Brazil
welcomed many Confederates who decided to leave when Abraham
Lincoln was elected in 1860.

There's a good argument to be made that if one really cares about one's
country, then one should stay and fight for one's beliefs. So fleeing
may be a tacit admission of defeat or fatigue, or both.

But momentary anger or angst about an election is far less important
in driving Americans offshore than the factors we have chronicled here
for the last eight years; a near total destruction of personal and
financial privacy; an assumption that everyone is a suspect and guilty
until proven otherwise; a plethora of laws attempting to control every
aspect of business and life in general. And both political parties
contributing to this stultifying oppression.

The Sovereign Society stands as the premier group offering advice and
direction to those who want to move assets offshore for protection, to
invest with far greater freedom and profits than the SEC allows in the
US, to achieve a new life in nations that still value the principles on
which America was founded.

And I might add, there is a fully legal way in which acquiring Canadian
citizenship eventually can lead to a tax-free existence for Americans,
since Canada does not tax its citizens who choose to live offshore.

It's something to think about -- while freedom of movement still exists.

That's the way that it looks from here.
Bob Bauman, Editor



 

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