Alternative Title: Wayn3s 235th Post - Because valuable information can only be posted at round numbers
This is the first thread of a series that i might continue if theres sufficient appreciation. Other episodes might feature survivalism and business privacy.
In order to get out of reach of the United States, you need to take a couple steps which run about $3-5k on the low end. In that case, it takes 2 years til you can renounce your citizenship. Faster options exist.
Renouncing your citizenship is something most of you probably dont want to do. You can still follow these steps so that when youre ready to renounce it, all you ened to do is walk into an embassy and fill out some form.
1. Second Passport
In order to be able to renounce your citizenship, you need to acquire a new one first. The light version of that is a passport. By travelling on a foreign passport, you reduce the information your government has on you.
Jurisdiction that help you do this and whose passports arent completely worthless:
1.1 Dominican Republic
The Dominican Republic offers naturalization after 2 years of establishing permanent residence. The country is ridiculously poor and establishing residence doesnt cost much. An added benefit is that they dont care much about how long you stay there. 1 or 2 visits a year are more than enough. After 2 years, you can apply for a passport.
1.2 Uruguay
Uruguay is a nicer country where you can actually spend your life. A negative is the fact that youd have to spend significant time down there and it takes longer til you can apply for a uruguayan passport.
1.3 St Kitts/Nevis
The wealthy can acquire a second passport/citizenship in exchange for a non-refundable investment in the economy of st kitts and nevis. But it still takes at least half a year due to bureaucracy. Be prepared to provide criminal records and all that jazz.
Price tag: Anywhere between 100k and 500k
1.4 Montenegro
While technically still on hold, the economic citizenship program of montenegro exists, for those who know the right people. The condition in montenegro is that you buy qualifying real estate or do significant business.
2. Get your money out of the country
You might have noticed that foreign banks get significantly more anal about opening bank accounts for you every day. That means you need to get your business set up offshore first.
2.1 Establishing an offshore business
2.1.1 Panama
Since you are not stupid, you know that your offshore business doesnt mean shit because you still need to personally sign the bank account youre going to open. You need to circumvent that. Reputable panamanian law firms provide puppet business managers who act as the signatories of the bank account youre going to open for your firm. While this is not 100% tight because the manager could technically seize your funds, the chances of it happening are ridiculously low. These guy are poor schmocks who get paid a small fortune in their opinion to sign a piece of paper.
2.1.2 Nevis
While Nevis might be the obvious choice due to the highly favourable law situation, it is better suited for a legal entity you actually do business with. A Nevis LLC is not recommended as the vehicle you use to manage your wealth.
2.2 Opening a bank account
The law firm that helped you get a panamanian IBC will offer you to open a panamanian bank account for you. Dont do that. Take the papers they provide to switzerland/singapore or the jurisdiction of your choice and open a bank account with a bank that maintains no presence in the states.
2.2.1 HSBC
Go bank with hsbc because they are a hongkong based company. Just do it. Be amazed when they happily turn over your information to the american government. Better yet, open an account with them through the local branch. Have your info sit in america. Just do it. Nothing bad could possibly happen. Their fees for otherwise standard services are, by the way, through the roof. - rant
Options range from small cantonal banks that you dont even know existed to Chinese banks with a presence in singapore.
That way neither your puppet manager nor the law firm even knows about your account, plus it sits in a different jurisdiction. Youre safe.
3. Know your situation
You might agree that while the situations shitty, its nowhere near life threatening. Shit could get real any day though. In order to stay informed, sign up for newsletters like sovereignman or qwealthreport. Those guys usually speak about things before they happen so that you do at least know whats coming. Dont count on lukep to write a thread when he reads about something that makes him jump ship, because informing you might not be at the top of his priorities.
4. Exit the dollar
The bank you opened an account with is in business because of people like you. If you bring any kind of significant funds (upwards of 5k), theyll happily open a multi-currency account for you. Among the currencies are gold and silver. You can wire your dollars and then tell the bank to convert them into whatever you want at the price of foreign exchange. You know the dollar is garbage. Act on it.
6. Change your name
This is optional. If you really want to get rid of the citizenship, one last step is to change your name. Unless youre on some secret service watch list, youre now completely off their books and free to re-enter the united states on a visa whenever you feel like.
5. The End
Following these steps, youve put enough space between your live/assets and your suitors ("the feds"). It is unlikely that america goes completely belly up within 2 years. Youve got more than enough time. Do yourself a favour and do at least step 3.
6. What if im not american
Do the same. America is the only jurisdiction that does worldwide taxation. Europe will sooner or later follow. Maybe because of pressure, maybe just because america has installed the instruments to finally make it enforceable. Dont wait til its too late. Take action.
7. Disclaimer
The most valuable information has been left out. You are not advised to do this on your own. Youll need to employ the services of a couple law firms in order to set everything up correctly. Im not going to write their information on a public forum because they dont like that. Should you be interested, you can hit me up on skype.
Before some piece of shit accuses me again of trying to bum market for affiliate commissions from q wealth report - they dont have an affiliate program. Im not a lawyer. Fuck you. I do especially love how just because you think youre a brilliant marketer, you need to convince yourself that everything you ever read is just a totally not well deceived marketing ploy.
In fact, youre not advised to do anything. This is not advice of any kind and is meant purely as entertainment.
If you want me to write more about such things, just like the post. If you manage to produce more than 10 likes, ill continue. If you think its garbage, go fuck yourself. If you want me to write about something in particular, just tell me. I considered including a poll but polls blow so I didnt.
This is the first thread of a series that i might continue if theres sufficient appreciation. Other episodes might feature survivalism and business privacy.
In order to get out of reach of the United States, you need to take a couple steps which run about $3-5k on the low end. In that case, it takes 2 years til you can renounce your citizenship. Faster options exist.
Renouncing your citizenship is something most of you probably dont want to do. You can still follow these steps so that when youre ready to renounce it, all you ened to do is walk into an embassy and fill out some form.
1. Second Passport
In order to be able to renounce your citizenship, you need to acquire a new one first. The light version of that is a passport. By travelling on a foreign passport, you reduce the information your government has on you.
Jurisdiction that help you do this and whose passports arent completely worthless:
1.1 Dominican Republic
The Dominican Republic offers naturalization after 2 years of establishing permanent residence. The country is ridiculously poor and establishing residence doesnt cost much. An added benefit is that they dont care much about how long you stay there. 1 or 2 visits a year are more than enough. After 2 years, you can apply for a passport.
1.2 Uruguay
Uruguay is a nicer country where you can actually spend your life. A negative is the fact that youd have to spend significant time down there and it takes longer til you can apply for a uruguayan passport.
1.3 St Kitts/Nevis
The wealthy can acquire a second passport/citizenship in exchange for a non-refundable investment in the economy of st kitts and nevis. But it still takes at least half a year due to bureaucracy. Be prepared to provide criminal records and all that jazz.
Price tag: Anywhere between 100k and 500k
1.4 Montenegro
While technically still on hold, the economic citizenship program of montenegro exists, for those who know the right people. The condition in montenegro is that you buy qualifying real estate or do significant business.
2. Get your money out of the country
You might have noticed that foreign banks get significantly more anal about opening bank accounts for you every day. That means you need to get your business set up offshore first.
2.1 Establishing an offshore business
2.1.1 Panama
Since you are not stupid, you know that your offshore business doesnt mean shit because you still need to personally sign the bank account youre going to open. You need to circumvent that. Reputable panamanian law firms provide puppet business managers who act as the signatories of the bank account youre going to open for your firm. While this is not 100% tight because the manager could technically seize your funds, the chances of it happening are ridiculously low. These guy are poor schmocks who get paid a small fortune in their opinion to sign a piece of paper.
2.1.2 Nevis
While Nevis might be the obvious choice due to the highly favourable law situation, it is better suited for a legal entity you actually do business with. A Nevis LLC is not recommended as the vehicle you use to manage your wealth.
2.2 Opening a bank account
The law firm that helped you get a panamanian IBC will offer you to open a panamanian bank account for you. Dont do that. Take the papers they provide to switzerland/singapore or the jurisdiction of your choice and open a bank account with a bank that maintains no presence in the states.
2.2.1 HSBC
Go bank with hsbc because they are a hongkong based company. Just do it. Be amazed when they happily turn over your information to the american government. Better yet, open an account with them through the local branch. Have your info sit in america. Just do it. Nothing bad could possibly happen. Their fees for otherwise standard services are, by the way, through the roof. - rant
Options range from small cantonal banks that you dont even know existed to Chinese banks with a presence in singapore.
That way neither your puppet manager nor the law firm even knows about your account, plus it sits in a different jurisdiction. Youre safe.
3. Know your situation
You might agree that while the situations shitty, its nowhere near life threatening. Shit could get real any day though. In order to stay informed, sign up for newsletters like sovereignman or qwealthreport. Those guys usually speak about things before they happen so that you do at least know whats coming. Dont count on lukep to write a thread when he reads about something that makes him jump ship, because informing you might not be at the top of his priorities.
4. Exit the dollar
The bank you opened an account with is in business because of people like you. If you bring any kind of significant funds (upwards of 5k), theyll happily open a multi-currency account for you. Among the currencies are gold and silver. You can wire your dollars and then tell the bank to convert them into whatever you want at the price of foreign exchange. You know the dollar is garbage. Act on it.
6. Change your name
This is optional. If you really want to get rid of the citizenship, one last step is to change your name. Unless youre on some secret service watch list, youre now completely off their books and free to re-enter the united states on a visa whenever you feel like.
5. The End
Following these steps, youve put enough space between your live/assets and your suitors ("the feds"). It is unlikely that america goes completely belly up within 2 years. Youve got more than enough time. Do yourself a favour and do at least step 3.
6. What if im not american
Do the same. America is the only jurisdiction that does worldwide taxation. Europe will sooner or later follow. Maybe because of pressure, maybe just because america has installed the instruments to finally make it enforceable. Dont wait til its too late. Take action.
7. Disclaimer
The most valuable information has been left out. You are not advised to do this on your own. Youll need to employ the services of a couple law firms in order to set everything up correctly. Im not going to write their information on a public forum because they dont like that. Should you be interested, you can hit me up on skype.
Before some piece of shit accuses me again of trying to bum market for affiliate commissions from q wealth report - they dont have an affiliate program. Im not a lawyer. Fuck you. I do especially love how just because you think youre a brilliant marketer, you need to convince yourself that everything you ever read is just a totally not well deceived marketing ploy.
In fact, youre not advised to do anything. This is not advice of any kind and is meant purely as entertainment.
If you want me to write more about such things, just like the post. If you manage to produce more than 10 likes, ill continue. If you think its garbage, go fuck yourself. If you want me to write about something in particular, just tell me. I considered including a poll but polls blow so I didnt.
D) but it is an awesome read for anyone getting started setting up