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THE SOVEREIGN SOCIETY OFFSHORE A-LETTER
Your Link to Freedom, Privacy & Prosperity in the Offshore World
Wednesday, September 22, 2004 - Vol. 6 No. 181
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In This Issue:
* COMMENT: Citizenship-by-Investment: Personal Flexibility Security.
* OFFSHORE: Here They Go Again! Caymans Crisis Continues. Jersey Helps. Ireland Finance Future. Dubai as Offshore Center.
* WEALTH: You Pay. Cross Border Tracking. RSA Banks. Ag Co-op Captive.
* PRIVACY & RIGHTS: Aussie Privacy. Phishing Explained. No Difference?
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Guest Comment is by CHRISTIAN H. KÄLIN, member of The Sovereign Society Council of Experts and partner in Henley & Partners, Zürich, specialists in relocation and residence for clients world wide. ==========================================
COMMENT: Citizenship-by-Investment: Personal Flexibility Security.
Dear A-Letter Reader:
An alternative citizenship and passport gives you more personal flexibility, security, and extra privacy. It is also a powerful tool for truly international tax and estate planning, and most importantly perhaps, citizenship and a passport from a small, peaceful country can even save your life when traveling and in times of terrorism, political unrest, civil war, and other delicate situations. For good reasons, many wealthy individuals, important personalities and international business people who are active world wide have opted for a second passport.
Only Austria, the Commonwealth of Dominica and St. Kitts & Nevis currently offer the possibility of acquiring legal citizenship on the basis of an investment and without prior residence requirements.
St. Kitts & Nevis now clearly offers the best option. Since 1984, the St. Kitts & Nevis Citizenship Act has allowed foreign investors who acquire qualifying real estate to obtain citizenship immediately. This makes it the oldest existing citizenship-by-investment program. To apply for citizenship, you must invest a minimum of US$250,000 in real estate. In addition, government fees, taxes and processing fees of US$50,000 or more apply, depending on the number of applicants. But this is hardly a sacrifice, because St. Kitts & Nevis has some of the Caribbean's most beautiful beaches and some excellent real estate developments, with prices steadily rising in recent years and offering still some of the best overall value for money in the Caribbean.
A St. Kitts & Nevis passport allows you to travel without a visa to about a hundred countries, including the United Kingdom, Ireland, Canada, Switzerland and many others. Citizens of St. Kitts & Nevis can of course travel, work and settle there whenever they wish.
In an unsettling, ever changing world, acquiring an alternative citizenship is a wise decision and an investment for the future. Making an active decision with regard to citizenship and residence options gives you more personal freedom, privacy and security. It also returns countless other benefits for life.
Christian H. Kälin
Zürich, Switzerland
E-mail: christian.kalin@henleyglobal.com
Web site: http://www.henleyglobal.com
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COMMENT LINKS:
* Benefits of citizenship by investment.
LINK: http://www.henleyglobal.com/m-citizenship.html.
* More information on citizenship by investment:
LINKS: http://www.henleyglobal.com/austria.htm
http://www.henleyglobal.com/dominica.htm
http://www.henleyglobal.com/stkittsnevis.htm
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* OFFSHORE *
HERE THEY GO AGAIN!
LONDON: Yet another bleeding heart, left-wing group formed to
attack tax havens, global tax competition and financial privacy.
LINK: http://www.guardian.co.uk/uk_news/story/0,3604,1308960,00.html
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CAYMAN ISLANDS CRISIS CONTINUES
GEORGE TOWN: Banks reopen but Cayman Islands remain 'in crisis'
LINK: http://www.caymannetnews.com/2004/09/739/crisis.shtml
* Caymans law firms scramble to survive after Hurricane Ivan.
LINK: http://www.caymannetnews.com/2004/09/739/lawfirms.shtml
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* JERSEY serves as offshore disaster alternative, recovery site.
LINK: http://www.thisisjersey.com/business/business1.html
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IRELAND SEES EXPANDED OFFSHORE FUTURE
DUBLIN: Planning for more offshore financial services. LINK:
http://www.businessworld.ie/livenews.htm?a=1002675;s=rollingnews.htm
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DUBAI OFFICIALLY SET AS OFFSHORE CENTER
New law formally declares Arab Emirate as offshore finance center.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=17348
* More about Dubai and the UAE.
LINK: http://www.odci.gov/cia/publications/factbook/geos/ae.html
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Instead, it served as their wake-up call...
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* WEALTH *
YOU PAY THE PRICE
Bank's spend billions for questionable dirty cash rules. LINK:
http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=109&STORY=/www/story/09-20-2004/0002253528&EDATE=
* But banks still cannot track customers' global activities. LINKS:
http://software.silicon.com/security/0,39024655,39124146,00.htm
http://www.vnunet.com/news/1158202
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SOUTH AFRICAN BANKS WATCHING
JOHANNESBURG: Big Brother banking to watch clients. LINK:
http://m1.mny.co.za/mnfs.nsf/0/C2256ABF003270C842256F1500589925?OpenDocument
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U.S. AGRICULTURAL CO-OPS GO OFFSHORE
Captive insurance company saves cash for 23 co-ops. LINK:
http://www.ledger-enquirer.com/mld/ledgerenquirer/business/9718728.htm
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* PRIVACY & RIGHTS *
AUSTRALIAN PASSPORT PRIVACY
CANBERRA: Passport database 'threatens privacy'. LINK:
http://www.news.com.au/common/story_page/0,4057,10825598^15319,00.html
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HOW 'PHISHING' CAN HIT YOUR WALLET
Fraudulent Internet e-mails can steal identities, cash, credit.
LINK: http://www.forbes.com/forbes/2004/1004/088.html
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NOT A DIMES' WORTH OF DIFFERENCE?
Bill Bonner says neither US presidential candidate is worth his vote.
LINK: http://www.lewrockwell.com/bonner/bonner45.html
* Heritage Foundation thinks there is a big tax difference.
LINK: http://www.heritage.org/Research/Taxes/cda04-09.cfm
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THE SOVEREIGN SOCIETY OFFSHORE A-LETTER.
* Bob Bauman, Editor * Daniel Aponte, Jr. Editorial Asst.
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