Dear A-Letter Reader:
If this is Wednesday, I must be in Liechtenstein - and it is.
As you may recall, I am traveling with The Sovereign Society's
European Banking Tour. We already have visited Copenhagen and Vienna,
and today we are in Vaduz, the capital of the Principality of
Liechtenstein.
With asset protection laws dating from the 1920s, a host of unique,
excellent legal entities designed for wealth preservation and strict
bank secrecy guaranteed by law, this tiny principality has it all.
Not long ago, one had to be a philatelist to know the Principality
of Liechtenstein even existed. In those days, the nation's major export
was exquisitely produced postage stamps, highly prized by collectors.
Until the 1960s, the tiny nation, wedged between Switzerland and
Austria, existed mainly on income from tourism, postage stamp sales,
and the export of false teeth.
But in the last 50 years, no taxes and maximum financial privacy has
propelled Liechtenstein to top ranking among the world's wealthiest
nations. This historic Rhine Valley country is a major world tax and
asset haven, with per capita income levels (US$25,000) higher than
Germany, France, and the United Kingdom.
Liechtenstein was one of the first nations in the world to adopt
specific offshore asset protection laws, as far back as the 1920s.
Liechtenstein's unique role in international circles is not so much as
a banking center, but as a pure tax haven. The nation acts as a base of
operations for foreign holding companies, private and family
foundations and a unique entity called an Anstalt (i.e.,
establishment). The banks and a host of specialized trust companies
provide management services for thousands of such entities and billions
of dollars, euros, Swiss francs and the like.
We are meeting here with leading attorneys, trust officers,
insurance experts and our Sovereign Society banking partners at
SwissFirst Bank. I'll be speaking about The Liechtenstein Report which I authored that has been a best seller.
Liechtenstein is a charmingly small place with big rewards. On the
road blink and you might miss Liechtenstein. Measuring just 62 square
miles, it would cover 90% of the area of Washington D.C. With 32,000
inhabitants, it is one of the least populated countries in the world.
But what this gem of a nation lacks in geographical and population
size, it more than makes up for in asset protection benefits and
privacy.
It's one of my favorite offshore havens - and it could be yours.
That the way that it looks from here in Liechtenstein,
BOB BAUMAN, Editor
P.S. In honor of The European Banking Tour stop in
Liechtenstein, The Sovereign Society is offering a 25% discount on The
Liechtenstein Report this week. You'll receive more information about
this report later today. Or you can click here to learn more.
