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THE SOVEREIGN SOCIETY OFFSHORE A-LETTER
Your Link to Freedom, Prosperity & Privacy in the Offshore World
Wednesday, December 4, 2002 - Vol. 4 No. 127
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In This Issue:
* COMMENT: Perfect Overseas Haven.
* OFFSHORE: EU Desperate to End Swiss Bank Secrecy; Deal Falls Apart. Luxembourg Nixes EU Tax. Channel Islands Tax Cut. Denmark Drops.Caymans Talks Tough; UK Threatens. Barbados Word Games. BVI Bearer Shares Fight. Bermuda Election Year Politics.
* PRIVACY & RIGHTS: Bush Decides Who Has Rights! Homeland Spies. Resistance Rising. Security Morphs into Secrecy.
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Our Guest Comment is by Kathy Peddicord, a member of the Sovereign Society Council of Experts and publisher of International Living.
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COMMENT: A Perfect Overseas Haven
Dear A-Letter Reader,
In the past year, I've met three couples who've told me they're going to take up full-time residence in Malta. In each case, they'd been shopping for the 'perfect overseas haven' for years and considered many countries. Each had the resources, the net worth and the available capital to live anywhere they chose. But they chose Malta.
I've been infatuated with Malta since I was a young girl and first read of the Knights of Malta. Rivals of the Knights Templar, they carried the special eight point Maltese Cross into battle during the Crusades. If you like history, you'll love Malta. Positioned at the hub of ancient trading routes, great historic civilizations of the world have left their mark here; Phoenicians, Arabs, Romans, Byzantium, Ottoman Turks, Crusader Knights, the French under Napoleon, the British.
This three island nation is not on the typical traveler's map but mark it on yours. Not because of its historic role, but because it's one of the most appealing havens in the world today. Foreign residents of Malta pay tax only on income brought into the country at a flat rate of 15%. There are no inheritance taxes or estate taxes.
Plus, everyone in Malta speaks English as a second language. There's good weather year-round, lots of sunshine. Crime is virtually unknown.The cost of living is low and medical care is first-rate. This is a 100% safe, stable Mediterranean nation with interesting old houses available for modest prices. Malta really is worth a look.
Kathleen Peddicord
Publisher, International Living.
PS: Why not sign up for our FREE weekly e-letter which brings you a world of new opportunities. You'll get tips on romantic living, luxury travel, inexpensive retirement, rewarding investments and safe financial havens. Be our guest. Subscribe FREE; click on the link below.
* LINK: http://www.henleyglobal.com/malta1.htm
* All about living in Malta.
LINK: http://www.escapeartist.com/international/02_malta.html
* US CIA Fact book on Malta.
LINK: http://www.investinmalta.com
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LINK: http://www.agora-inc.com/reports/120SMLOM/W120CCM3/
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* OFFSHORE *
E.U. DESPERATE TO CRACK SWISS BANK SECRECY
BRUSSELS: European Union finance ministers try and fail to get Swiss agreement to end their financial secrecy laws; the Swiss stand firm.
LINK: http://www.eubusiness.com/cgi-bin/item.cgi?id=98042
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* Showdown looms on Swiss banking secrecy.
LINK: http://news.bbc.co.uk/1/hi/business/2537895.stm
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* EU Wants Swiss Banks to Drop Secrecy. LINK:
http://www.heraldtribune.com/apps/pbcs.dll/article?Date=20021 202&Category=APF&ArtNo=212020804&Ref=AR
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* EU Deadlocks on Savings Tax as Swiss Defend Secrecy. LINKS:
http://quote.bloomberg.com/fgcgi.cgi?T=uspolitics_news.ht&s= APey7SRUPRVUgRGVh
http://www.swissinfo.org/sen/Swissinfo.html?siteSect= 113&sid=1493177
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EU tries last ditch effort for a savings tax deal. LINK:
http://news.ft.com/servlet/ContentServer?pagename=FT.com/Story FT/FullStory&c=StoryFT&cid=1037872513414
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LUXEMBOURG NIXES ANY E.U. TAX DEAL
Tiny tax haven says all or nothing; no level playing field, no deal.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=10165
Luxembourg; a unique enclave of culture and language. LINK:
http://www.washingtonpost.com/wp-dyn/articles/A52238-2002Nov28.html
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JERSEY, GUERNSEY CUT CORPORATE TAX TO ZERO
Following the example of the Isle of Man, Channel Islands kill tax.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=10106
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DENMARK DROPS IN WEALTH LISTINGS
COPENHAGEN: From 7th to 8th among world's wealthiest nations.
LINK: http://cphpost.periskop.dk/default.asp?id=26258
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CAYMANS LEADER TALKS TOUGH
GEORGE TOWN, C.I. But Labour in London may force the islands to impose EU demanded taxes on foreign investors.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=10133
* Ex-US Congressman says Caymans should fight EU taxes.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=10105
* Caymans security firms licensed, regulated anew.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=10124
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BARBADOS SAYS IT IS NOT "OFFSHORE" ANYMORE
Leading Caribbean corporate tax haven now wants to play word games.LINK:
http://www.tax-news.com/asp/story/story.asp?storyname=10119
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B.V.I. DEBATE OVER END TO BEARER SHARES
Law firms say curbs on bearer shares hurt (don't hurt) island business.
LINKS: http://www.tax-news.com/asp/story/story.asp?storyname=10118
http://www.tax-news.com/asp/story/story.asp?storyname=10127
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DISPUTE OVER BERMUDA ECONOMY
Ins say it's great; outs say it's not. It's an election year.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=10120
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* PRIVACY & RIGHTS *
BUSH CREATES 'PARALLEL LEGAL SYSTEM'
President decides who has constitutional rights, protections. LINK:
http://www.washingtonpost.com/wp-dyn/articles/A58308-2002Nov30.html
* Why the Pentagon will watch where you shop.
LINK: http://www.csmonitor.com/2002/1203/p01s01-usgn.html
* Report says anti-terror powers curtail rights.
LINK: http://www.upi.com/view.cfm?StoryID=20021122-112344-2595r
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'HOMELAND SECURITY' MEANS SPYING ON YOU
Homeland law evokes fears of 'Big Brother' Government's
greater powers put citizens at risk. LINK:
http://sfgate.com/cgi-bin/article.cgi?f=/c/a/2002/11/28/MN166249.DTL
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RESISTANCE RISING IN AMERICA
Abuse of liberties by government creates growing opposition.
LINKS: http://villagevoice.com/issues/0248/hentoff.php
http://www.villagevoice.com/issues/0249/hentoff.php
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'SECURITY' BECOMES 'SECRECY'
How government uses the terrorism excuse to hide its actions. LINK:
http://www.washingtonpost.com/wp-dyn/articles/A58419-2002Nov30.html
* How government secrecy operates in real life.
LINK: http://reese.king-online.com/Reese_20021204/index.php
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