Your Confidential_Guide_to_Personal & Financial_Freedom
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Your Confidential_Guide_to_Personal & Financial_Freedom |
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#1: Offshore Structuring
Structuring simply means utilizing legally-compliant offshore structures (trusts/IBCs etc) to minimize one's tax to the extent of what is possible - without breaking the law. This is not easy of course, because the law is infinitely elastic and changeable. However, it is certainly possible to arrange one's affairs in such a way that you don't have to lose sleep at night, worrying as to whether the "man from the government" will come knocking at your door. This strategy does require the assistance of legal professionals if you want to do it right. The more money and other assets you have - the more you need to get the structure right. Still, there are some basic moves you can make that are generally applicable, and will give you some advantages. Many of these are discussed in this section of the e-book.
without spending a fortune?" |
#2: Privacy
There are various levels of privacy you can aspire to - the most obvious one being to become "unfindable" by never disclosing your residential address. You just use a PO Box number or maildrop, and when asked for a physical address, you simply quote the street where your mailbox is located! To become completely private, you would also need to close all your domestic bank accounts and work from a cash base only. You would need to make sure you aren't on any public rolls - like for voting. You would also develop your own offshore money sources - and keep them private. You'd want to make sure all your communication was private - and that you didn't keep paper or data records of anything that could incriminate you. And one more thing, you wouldn't want to own any property in the country of your existing tax liability. However, the most complete form of privacy is to become "someone else" - and create a new identity for yourself. You may find this option very "extreme" and not want to use it fully. However, it is possible to enhance one's privacy by applying many of the "lower level" strategies as suggested. Each step towards increased privacy, is a step towards more freedom.
with OPC Membership!" |
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#3: PT
This is the "Perpetual Traveler" option - where you become a "Previous
Taxpayer" by exploiting the "resident for tax-paying purposes" laws in various
countries.
The essence of this strategy is that you need to divide up your "life" into
different jurisdictional bases. For example, you would want to become a
resident of a country that doesn't have an income tax. This lays the foundation
of your lifestyle.
The next step is to arrange your financial affairs in yet another tax haven,
while protecting your assets in a different one again. Finally, you would set
up your legal business structure in a different jurisdiction from any of the
others. And once you have achieved all of that - you are free to actually live
anywhere on earth - as a visitor.
Most reasonable countries will allow you to stay up to 6 months as a tourist -
and as a tourist you are not liable for any taxes. When your time is up, you
simply move on to your next favorite destination - and repeat the process.
You don't have to move to a different country all the time, but can choose two
or three places which you will spend your time in each year. The only proviso
is that you mustn't stay longer than the prescribed time that qualifies you as
a tourist. Stay longer - and you will be deemed a "resident for tax purposes",
and be liable for tax.
Naturally, this option is not for everybody, as many people would feel
uncomfortable uprooting themselves and living as cyber-gypsies. But it does
offer a legal way to live a tax-free lifestyle - and to permanently remove
bureaucrats from your life. Perhaps the most appealing aspect of this strategy
is its simplicity.
FREE with your OPC Membership!" |
#4: Sovereignty
This strategy has become commonly known as the un-tax option, where you rely on
constitutional or other legal precedents to opt-out of the tax system -
becoming, in effect, a tax-protestor.
What started out in the USA, has now spread to Canada, Australia, and more
recently, to New Zealand. Basically, this strategy is to seek a
legal/constitutional defence for opting out of the tax system.
This option is similar to standing in front of the tank in Tiannamen square,
where you simply stand up and refuse to cooperate with the authorities. That,
of course, is a very positive analogy, as the tank did actually stop!
There are risks of course, as your "tax rebellion" is plain for the authorities
to see - and act on if they wish. You also need to have a "head" for legal
argument - for to be effective in this way requires that you have a
considerable amount of knowledge of the basis for your "rebellion". And this
knowledge requires a substantial amount of reading and research on your part.
Personally, I'm still very skeptical regarding this option, as I believe that
in many cases, the authorities have not bothered to act - and therefore the
strength of the various cases has not been tested in court.
However, it is certainly true that if enough people were to apply this
strategy, then it would move into the realm of civil disobedience, and would
very likely succeed in undermining the tax authorities - which largely
functioned only by virtue of society's voluntary compliance.
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the libertarian way!" |
Copyright 2000 by OPC International, Inc.
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