In This Issue:
* COMMENT: The New Pioneers

* OFFSHORE: Bahamas Ruling Shakes Banks. Caribbean-UK Privy Court Ends. Costa Rican Firm Raided. Bermuda Under a Cloud. Cyprus Bag Man. Monaco Mafia-Royal Link? Spain Trashes Gibraltar. NY Times Awakes. Irish-Caymans Offshore Tax Evasion Scandal Names. Caymans Dollar.

* WEALTH: Foreign Investment in US Nosedives. Rich Lost $2.6 Trillion. Top 500 Offshore Companies. US Scandals Comfort Russians. Tax News: IRS Enforcement, New Zealand High Taxes, Japan Tax Crack Down.
===========================================
* COMMENT: The New Pioneers

Dear A-Letter Reader:
Taking pages from history, Sovereign Society Council of Experts member David Lesperance of Canada notes: 'The Irish Potato Famine, the Scottish Highland Clearances, the Russian Pogroms, and World War II were major historical events that drove immigration to the US. September 11th 2001 may be remembered as the time when a group of far-sighted Americans were inspired to review their current lives and implement changes to their residence and citizenship that would greatly enhance the lives of the generations that followed them.'

As an attorney who specializes in providing advice and assistance on foreign residence and second citizenship for US persons and Canadians, Mr. Lesperance catalogues the many forces driving people to consider moving their assets and residence abroad; government destruction of personal and financial privacy under the guise of fighting money laundering and terrorism; increased loss of individual choice and liberty; the need for Americans to develop a low profile in foreign travel for safety, and at home, a low profile to avoid a government now armed with outrageous powers over every aspect of life.

Of course, the same holds true of restrictions being placed on citizens in the United Kingdom and other European Union nations. Tony Blair and Labour began building a modified police state well before terrorism became an issue worldwide and they continue apace.

There are nations where financial privacy still lives, where foreigners are welcomed with attractive tax breaks and no income tax on local earnings. Panama, Andorra, Austria and Switzerland come to mind.

If you want to know more about the possibilities of dual citizenship and foreign residency, check out the links below.

What Lesperance calls new 'pioneers' need to undertake changes in an effective, timely, and cost-efficient manner. Says he: 'Recognizing the impact and predictable fallout of current events is the first step.'

That's the way that it looks from here.
BOB BAUMAN, Editor
=============================
COMMENT LINKS:
* Is It Time To Get Out Of Dodge City? David S. Lesperance
LINK: http://www.escapeartist.com/efam/36/David_Lesperance.html
E-mail David Lesperance: dsl@globalrelocate.com
* Henley & Partner's best nations for private residence:
LINK: http://www.henleyglobal.com/jurisdictions.htm
E-mail: chris.kalin@henleyglobal.com
* Global Relocate web site.
LINK: http://www.GlobalRelocate.com/about.htm
* Henley & Partner, Zurich. Citizenship & Residency.
LINK: http://www.henleyglobal.com/
* Emigrate to Canada; Live Tax Free.
LINK: http://www.escapeartist.com/canada/Canada_Tax_Free.html
* The Sovereign Society Passport Book. by Bob Bauman JD.
LINK: http://www.agora-inc.com/reports/190SGOPS/W190C644/

******************ADVERTISEMENT*********************

 

After many years of travel and doing business all over the world, the staff of The Sovereign Society, including A-Letter editor, Bob Bauman, put together what is one of the greatest resources available for offshore banking, investing, privacy, legal tax reduction and deferral, real estate, and much more. We call it 'The Sovereign Society's Offshore Yellow Pages' and at last count it contained 8,251 important professional services and resources with direct contact information.

To learn more about this treasure of information , click here NOW:
LINK: http://www.agora-inc.com/reports/190SOYPP/W190C716/

===========================================
* OFFSHORE *

BAHAMAS APPEALS COURT OKs BANK ACCOUNT SEIZURES
NASSAU: In a serious blow to The Bahamas banking system and the islands' badly needed financial recovery, the Appeals Court upholds government powers to freeze and confiscate bank accounts.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=8719

* New PM Christie asks Caribbean unity against OECD demands.
LINK: http://www.thenassauguardian.com/news_display.php?prid=7683&src=nassau
-----
CARIBBEAN NATIONS END U.K. PRIVY COURT APPEALS
Leaders establish a new Caribbean Court of Justice, with major implications for future area civil and criminal appeals.
LINK: Click Here.
-----
POLICE RAID OFFSHORE INVESTMENT FIRM
SAN JOSE. Costa Rican-based high yield investment group, Ofinter SA, is raided; arrests in the Turks & Caicos Islands, St. Vincent & the Grenadines, Trinidad-Tobago, St. Lucia, Panama and Colombia.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=8722
-----
BERMUDA UNDER A CLOUD
HAMILTON. Bermuda is caught in a crossfire of US patriotism and US corporate tax avoidance. Special Miami Herald report.
LINK: http://www.miami.com/mld/miamiherald/business/3568010.htm

* Newsweek columnist confused about Bermuda corporations.
LINK: http://www.washingtonpost.com/wp-dyn/articles/A26340-2002Jul4.html

* Bacardi is right at home as one of Bermuda's largest companies.
LINK: http://www.miami.com/mld/miamiherald/business/3568009.htm

* U.S. SEC exempts Bermuda-based corporations from truth oath.
LINKS: Click Here.
-----
CYPRUS GOT MILLIONS IN MILOSEVIC CASH
NICOSIA. Bags with 35 million Deutsche marks (US$17 million).
LINK: Click Here.
-----
DID MONACO BURY ROYAL-MAFIA LINKS?
MONTE CARLO. Book charges Monaco government 'blocked fraud inquiry which came close to Princess Stephanie.'
LINK: http://www.guardian.co.uk/Archive/Article/0,4273,4451019,00.html
-----
SPAIN KEEPS ON TRASHING GIBRALTAR RIGHTS
Opposes referendum on continuing UK status; blocks the Rock's right to participate in EU elections.
LINKS: http://www.tax-news.com/asp/story/story.asp?storyname=8702
http://www.tax-news.com/asp/story/story.asp?storyname=8711
-----
NEW YORK TIMES WAKES UP TO ANTI-SWISS PRESSURE
Newspaper finally notices what we've reported for years; European high tax welfare states want to kill Swiss bank secrecy.
LINK: http://www.nytimes.com/2002/07/07/international/europe/07SWIS.html
-----
IRISH OFFSHORE BANK SCANDAL REVEALS 190 NAMES
DUBLIN. 190 names of rich people involved in an offshore tax evasion scheme at Ansbacher Caymans Bank; but no charges likely.
LINKS: Click Here.
* Class warfare in Ireland over tax evasion issue.
LINK: http://www.observer.co.uk/uk_news/story/0,6903,750934,00.html

* How the Ansbacher Caymans scam worked.
LINK: http://www.observer.co.uk/uk_news/story/0,6903,750933,00.html

* Conspiracy, fraud and corruption in Ireland.
LINK: Click Here.
-----
CAYMAN ISLANDS GOVERNMENT DENIES DEVALUATION
GEORGE TOWN. Trying to put down rumors, the CIMA says there won't be devaluation of the CI$ now valued at CI$=US$1.20.
LINK: Click Here.

******************ADVERTISEMENT*********************

ONE OF THE LAST OFFSHORE TAX SAVINGS AVAILABLE!

Consumers Guide to the World of Offshore Variable Annuities

Offshore variable annuities allow real, legal tax deferral and in this special report, Vern Jacobs CPA, explains it all. You can enjoy privacy, plus tax and investment benefits from an offshore variable annuity. Learn how in this comprehensive guide includings professional service information and analysis of various annuities offered. You can compare policies from many offshore nations, then decide which is best for you. If you seek tax deferral, you need this unique report NOW.
Click below for the facts.
LINK: www.agora-inc.com/reports/190SMNML/W190C721/

===========================================
* WEALTH *

FOREIGN INVESTMENT IN U.S. NOSEDIVES
Foreign US direct investment dropped 56% to $565 Billion in 2001.
LINK: Click Here.
-----
US-UK RICH LOST US$2.6 TRILLION
LONDON. Rich investors on both sides of the Atlantic lost $2.6 trillion, or 6% of their wealth in 2001.
LINK: Click Here.
-----
FORBES TOP 500 OFFSHORE CORPORATIONS
Annual survey of the 500 foreign corporations that generated the most revenues.
LINK: http://www.forbes.com/forbes/2002/0722/122.html

* Forbes offshore company rankings:
LINK: http://www.forbes.com/2002/07/03/internationals.html
-----
U.S. CORPORATE SCANDALS COMFORT RUSSIA
MOSCOW. Russians feel a sense of affirmation that their graft riddled corporate culture is no worse than that in the West.
LINK: http://www.themoscowtimes.com/stories/2002/07/05/043.html

* Bad Boy Boris Berezovsky investigated again.
LINK: http://www.upi.com/view.cfm?StoryID=05072002-052207-7300r

* A guide to those multiple US corporate scandals.
LINK: http://www.washingtonpost.com/wp-dyn/business/specials/corporateethics/
-----
TAX NEWS:
* Weaker US IRS tax enforcement discourages tax payments.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=8698

* NEW ZEALAND high taxes hurt nation's economy.
LINK: Click Here.

* JAPAN cracks down on super-rich tax evaders.
LINK: http://www.asahi.com/english/national/K2002070500296.html

* European WSJ lashes out against EU 'savings tax directive.'
LINK: http://www.iea.org.uk/record.php?type=feature&ID=16
=================================
THE SOVEREIGN SOCIETY OFFSHORE A-LETTER. E-mail to: info@sovereignsociety.com. * SUBSCRIBE FREE or send to a friend at LINK: HOME
=================================
THE SOVEREIGN SOCIETY Ltd., 5 Catherine St., Waterford, Ireland. TEL: 353-51 844 068 FAX: 353-51 304 561. Copyright (C) 2002. All domestic & international rights reserved.