THE SOVEREIGN SOCIETY OFFSHORE A-LETTER
Your Link to Freedom, Prosperity & Privacy in the Offshore World
Friday, February 8, 2002 - Vol. 4 No. 11
In This Issue:
* COMMENT: Report from Belize
* OFFSHORE: Belize Passports. Lord Ashcroft's Revenge. Panama Gets Tough. Costa Rican Choice. Labour Dumps Gibraltar. Leichtenstein Dirty Cash. Austria Leads Europe Right. FATF Targets Nauru.
* WEALTH: Swiss Shake Up. Brits Don't Like Euro. Barbados Welcome. More US Millionaires. Special Service for the Wealthy.
COMMENT: Report from Belize
BELIZE CITY, Belize C.A.
Dear Friend:
I am in BELIZE this week at a Sovereign Society offshore conference with nearly 100 attendees from the US and other nations. Those who watch US trash TV, may recall that Belize was the locale of the Fox television show, "Temptation Island" a year ago.
This is my second journey to Belize in the last year, largely because it remains one of the few safe offshore tax haven nations that has not succumbed to US, UK and OECD pressures. The government has finely balanced policies that accommodate maximum financial privacy, something US persons used to be able to take for granted, as well as application of a strict anti-money laundering law that curbs dirty cash.
Belize is still a "third world" country, but its 250,000 people are amazingly friendly and ocean front real estate is still relatively cheap. An English speaking nation, Belize is one of the few remaining independent nations (until 1981, a British colony), proud to hold itself out as a tax haven. It levies no income, corporate or other taxes on foreigners resident here. Of special note is the Retired Persons Incentive Act akin to the defunct Costa Rican "pensionado" program, which aims to attract foreign retirees. Known as the "qualified retired persons" (QRP) program, it offers significant tax incentives to those willing to become (at least 2 weeks a year) residents, but not full citizens.
As a former British colony Belize still gets financial aid from London and is thus susceptible to UK pressures because of debt forgiveness agreements. But Belize is not about to impose taxes and drive away foreign investors and residents. In this impoverished country, the offshore sector is a highly valued source of foreign capital with strong government and popular support. Belize does not pretend to be a premier world offshore haven, but its legal structure is sound, its track record is good and it hasn't sold out as has The Bahamas and the Cayman Islands.
That's the way that it looks from here.
Faithfully Yours, Bob Bauman, Editor
PS. If you like the Sovereign Society Offshore A-Letter, you'll enjoy our monthly, The Sovereign Individual. For info or to subscribe
LINK: http://www.agora-inc.com/reports/SOVS/LSVAL3/
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COMMENT LINKS:
For information contact: The Belize Tourist Board, New Central Bank Bldg, Level 2, Gabourel Lane, PO Box 325, Belize City, Belize, Tel.: 501 231-913 Fax: 501 231-943 E-mail: info@travelbelize.org
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* OFFSHORE *
BELIZE ENDS ECONOMIC PASSPORTS
BELIZE CITY. The government terminates its sale of economic passports to non-nationals because of concerns about abuse.
LINK: Click Here.
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LORD ASHCROFT MEMOS SPUR U.K. LAW REPEAL
A leading investor in Belize turns UK laws against his Labour tormentors, who now want to repeal the law he used.
LINK: Click Here
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PANAMA'S TOUGH NEW DIRTY CASH LAW
PANAMA CITY. Under pressure to clean up its banking sector, Panama cracks down with a new anti-money laundering law.
LINK: Click Here.
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COSTA RICAN ELECTION PROBLEMS
A badly split electorate faces major choices; but Libertarians win.
LINKS: Click Here.
http://www.thenewsmexico.com/noticia.asp?id=18584
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U.K. LABOUR STICKS IT TO GIBRALTAR
Change or else Blair's colonial boys tell The Rock.
LINK: Click Here.
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LIECHTENSTEIN MONEY LAUNDERING CASES DOUBLE
VADUZ. More than twice as many dirty case prosecutions last year,
LINK:Click Here.
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AUSTRIA LEADS EUROPE MOVE RIGHT
VIENNA. Jorg Haider and his Freedom Party are still going strong.
LINK: Click here.
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F.A.T.F. TARGETS NAURU
The Financial Action Task Force singles out this tiny Pacific island.
LINK: Click Here.
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* WEALTH *
BANK REGULATOR SHAKES UP SWISS SCENE
BERNE. Official wants to cooperate with US SEC insider investigations.
LINK: Click Here.
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BRITISH SUPPORT FOR EURO SLIPS MORE
LONDON. They just don’t like Europe’s new funny money.
LINK: Click Here.
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OFFSHORE SECTOR WELCOMES BARBADOS DECISION
Finally the OECD capitulates and strikes a name from the blacklist.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=7208
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U.S. MILLIONAIRES DOUBLE IN NUMBER
But the rich still pay most of the taxes.
LINK: http://www.nytimes.com/2002/02/07/business/07TAX.html
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SPECIAL SERVICE FOR WEALTHY CLIENTS
That's what Wealth Touch offers.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=7199
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