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THE SOVEREIGN SOCIETY OFFSHORE A-LETTER
Your Link to Freedom, Prosperity & Privacy in the Offshore World
Wednesday, September 11, 2002 - Vol. 4 No. 92
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In This Issue:
* COMMENT: Panama Is The Place.
* OFFSHORE: Swiss UN Debut. Austrian Elections. Jersey Tax. Gibraltar Day. Fight Back. Bermuda Football. Nevis, Caymans Health. OSTs.
Singapore Crack Down.
* WEALTH: US Confiscations. US Taxes Hurt. Free Trade. Spanish Binge.
* PRIVACY & RIGHTS: 9-11 Aftermath: War on Civil Liberties. Liberty surrendered; conformity; ignorance; trading freedom for safety; immigrants jailed; secret courts; Net surveillance; Justice Top Hits.
* * * * * * * * * * * * * ADVERTISEMENT * * * * * * * * * * * * *
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Our mid-week guest commentator is KATHLEEN PEDDICORD, Sovereign Society Council of Experts member and head of International Living, based in Ireland. * Bob Bauman, A-Letter Editor
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* COMMENT: Panama Is the Place.
Dear A-Letter Reader,
If you're looking for a new country of residence, Panama should be at the top of your list. The benefits of residency can be many in this often misunderstood country.
* Panama enjoys a stable, democratically elected government.
* Panama's economic performance is, year after year, better than nearly every other Latin American country. For 40 years Panama's inflation rate averaged less than 2% per year, unheard of south of the US.
* Comparing its neighbors, Panama has more amenities than traditional retirement in Mexico or Costa Rica -- but costs and crime rates are far lower. There is far less red tape and less interference from local authorities. The government of Panama and its laws actually encourage foreigners to invest and live there.
Panama boasts: 1) tropical weather; 2) a low cost of living; 3) reliability and efficiency absent in other Latin American countries; 4) favorable offshore banking laws; 5) a stable economy, with the US dollar as currency; 6) government investment incentives that slash tax rates and fees for entrepreneurs and; 7) a diverse geography from
mountain ranges to tropical islands, from a booming metropolis to vast jungles.
Now here's the kicker if you're looking for a country of residency: Panama boasts one of the most attractive programs for foreigners on offer anywhere in the world. As a Panama "pensionado," you are eligible
for discounts on just about everything you buy. If you buy or build a house you pay no property taxes for 20 years. As a resident you pay no taxes on foreign earned income. And Panama has excellent asset protection, offshore corporation laws and the largest banking sector south of Miami.
KATHLEEN PEDDICORD, Waterford, Ireland
Web site: http://www.internationalliving.com/
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COMMENT LINKS:
* Why Panama? More about pensinados. LINK:
http://www.internationalliving.com/contadora/whypanama.html
* Trust Services SA, Panama.
LINK: http://www.trustserv.com/index1.htm
* Trust Services Explains Panama Laws. LINK:
http://www.trustserv.com/Panama%20-%20Pathway%20to%20Offshore%20Protection.htm
* Top 10 Travel Destinations in Panama. LINK:
http://www.panamainfo.com/viewArticle.php?seccion=&id=57&x=3
* The Panama Canal. LINK: http://www.pancanal.com/
* US State Dept. Background Notes on Panama. LINK:
http://www.state.gov/www/background_notes/panama_0100_bgn.html
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* OFFSHORE *
SWISS DEBUT AT THE UNITED NATIONS
BERN: Worries about national identity and traditional neutrality. LINK:
http://www.economist.com/world/europe/displayStory.cfm?story_id=1317966
* More about possible EU sanctions aimed at Swiss bank secrecy.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=9326
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CHANGE IN AUSTRIA
VIENNA: New elections set; what will it mean for the future? LINK:
http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT
/FullStory&c=StoryFT&cid=1031119176139
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JERSEY LOOKS AT IMPACT OF E.U. CODE
ST. HELIER: Possible low or no corporate taxes could be a boon.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=9329
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NATIONAL DAY IN GIBRALTAR
A celebration of Britishness by one of Her Majesty's last colonies.
LINK: http://www.iberianews.com/nationaldayspecial.htm
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HAVEN EXPERT URGES LEGAL RESISTANCE
BRIDGETOWN, Barbados. Bruce Zagaris says take the US to court.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=9328
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BERMUDA A 'POLITICAL FOOTBALL'
HAMILTON: Opposition slams government for failure to counter US Congress restrictions on offshore re-incorporation. LINK:
http://www.theroyalgazette.com/apps/pbcs.dll/article?Date=20020910&
Category=BUSINESS&ArtNo=109100057&Ref=AR
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NEVIS OFFSHORE SECTOR HEALTHY
CHARLESTOWN, Nevis. Traditional tax haven is off blacklists. LINK:
http://www.caypolitics.com/index2.vep?FORUM=politics&FUNCTION=
read&SORT=dna2&MODE=&_COMPAND=Expand&_Message_ID=8996&username=
anonymous&pop3host=caymail.com&session_id=407898963472055
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MOODY'S RATES CAYMAN ISLANDS
GEORGE TOWN, C.I. Good credit rating; offshore helps. LINK:
http://www.caypolitics.com/index2.vep?FORUM=politics&FUNCTION=
read&SORT=dna2&MODE=&_COMPAND=Expand&_Message_ID=9001&
username=anonymous&pop3host=caymail.com&session_id=407898963472055
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BRITISH OVERSEAS TERRITORIES CONFAB
GRAND TURK, Turks & Cacaos Islands. UK colonials gather. LINK:
http://www.islandsun.com/2002-September/06092002/local2-v9i03.html
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SINGAPORE CRACKS DOWN ON CORPORATIONS
Tough new draft accounting and listing standards issued.
LINK: http://www.offshoreon.com/articles/3455.asp?docid=3455
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* WEALTH *
U.S. GOVERNMENT WAR ON PROPERTY
A government that can jail the rich and well known at will and confiscate their assets can do the same thing to 'ordinary' people.
LINK: http://www.mises.org/fullstory.asp?control=1041
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AMERICAN TAXES DRIVE OUT BUSINESS
Without major tax reform, the US will no longer attract business.
LINK: http://www.cse.org/informed/issues_template.php/1091.htm
And truly free trade is an absolute must for prosperity. LINK:
http://www.cwt.org/news/articles/September%202002/101.htm
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SPAIN'S LATIN AMERICAN BINGE
Spanish banks and corporations are left holding the investment bag after over extending themselves.
LINK:http://www.economist.com/agenda/displayStory.cfm?story_id=1323848
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* PRIVACY & RIGHTS *
ONE YEAR LATER -- THE 9-11 AFTERMATH:
* The War on Civil Liberties. Our rare agreement with the N.Y.Times.
LINK: http://www.nytimes.com/2002/09/10/opinion/10TUE1.html
* Americans surrendered civil liberties quietly after Sept. 11. LINK:
http://www.zwire.com/site/news.cfm?newsid=5313193&BRD=1713&PAG=461&dept_id=24491&rfi=6
* Group ignorance becomes the norm. LINK:
http://www.libertyforall.net/2002/archive/sept01/hoods-law.html
* Recommended: Trading Freedom for Safety. Reason magazine
LINKS: http://www.reason.com/0210/fe.ng.freedom.shtml
http://www.reason.com/0210/911.shtml
* Immigrants still languish in INS jails. LINK:
http://seattletimes.nwsource.com/text/134532491_immigration10m.html
* Secret courts and government wiretaps. LINK:
http://www.nytimes.com/2002/09/10/national/10WIRE.html
* 2/3 of Americans not worried about Net surveillance.
LINK: http://news.bbc.co.uk/2/hi/technology/2246344.stm
* US Dept. of Justice Top 10 List of Lost Liberties. LINK:
http://www.politechbot.com/docs/doj.accomplishments.090902.doc
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