Second citizenship can be something like a global insurance policy that
entails any individual to make use of the dissimilar parts of two
countries for a better set of options, most likely financially. It can
become quite apparent in small nations with a not-so-bright
socio-economic condition, where individuals often find it easier to make
a better living in another country. One that you can choose. Dual
nationality has always been held by wealthy people with a knowledge of
world history. They know of the dangers of placing an entire future in
the hands of politicians. Patriotism might be OK if governments were
consistent and let you be free. But socialistic Big Brother
bureau(c)rats now have the power to run your life from cradle to grave.
Most of them think that all people who own businesses. securities, gold,
foreign bank accounts or property are criminals who should be relieved
of them and what little freedom they still have left. It is therefore
imperative for the security of anyone of substance or ambition to have
at least one other passport and nationality.
A second passport can give you peace of mind. It can help save you
taxes. It also expands your travel opportunities. In some circumstances a
second passport could even save your life. Here more specifically are
some of the reasons someone might want a second passport.
Residence gives you the right, without having to ask permission, to live
and work in the country of your choice.
"Just in case." The world is an unstable place. Anything could happen -
although it probably won't. Against the day when it might, however, a
second passport, or second nationality, means that when you decide
you're no longer happy in your normal place of residence, you do not
need to apply for
permission to reside somewhere else, because you already have the right
to do so.
A second passport can make it easier for you to travel to many
countries, especially if you now hold a restricted passport such as a
Hong Kong Certificate of Identity, or a Taiwanese, Israeli or South
African passport. Depending on your choice of second passport, or second
nationality, the process of
gaining entry to many other countries can be made much more simpler.
Even if you hold one of the world's most respected passports~ such as
that of a US citizen, there can be times when you wish you were able to
show some other piece of identification. For example: when the aircraft
in which you are traveling is hi-jacked by anti-American terrorists.
Business and work.
Another passport will more often than not give you the right to work and
do business in its country of issue without obtaining a work permit,
and similar advantages above and beyond those of your current national
status. Citizenship of a member state of the European Economic Community
gives you the right, under the Treaty of Rome, to live, work and/or
establish a business in any other member country of the EEC.
Saving on taxes is something almost everyone wants to do. However the majority of countries have tax laws that mean we must pay our taxes if we want to stay on the right side of the law. Yet there is a way to legally reduce the level of taxation you or your business are subjected to by forming an offshore company.
An offshore company is known officially as an International Business Company (IBC). Even though IBC’S are created in the world every day, many are still unaware of the advantages of forming one and worried that it may not be a legitimate way to save on taxes. But be assured there are multiple reasons why incorporating an offshore company could be of benefit to you and it is definitely a legal and very smart business move.
Incase there is still some confusion between the concepts of tax evasion and tax avoidance, let me explain. Tax evasion is the refusal to pay due taxes, by means that are considered illegal within the law. In contrast, tax avoidance refers to utilizing the provisions within the taxation laws of a country to one’s advantage so that savings on taxes can be made. It is the latter regard that forming an IBC will assist.
I’m packing my bags and getting ready to head for England! I’m not leaving my lovely island home forever, instead I am going to the UK to attend the OPPLive Conference in London, Nov 25-26th and give a presentation alongside CaribPro representative, Jason Kumpft. Our seminar entitled ‘Profitable Possibilities and Partners in the Caribbean’ will be held on 26th November from 11:00-12:00 in Theatre 3. The session will highlight the new opportunities that exist for both local agents and international partners in an exciting combination of real estate and offshore asset protection possibilities, including economic citizenship.
In the midst of the current global credit crunch, property professionals are seeking to charter their way into new territory. Industry leaders are eager to create new opportunities and make even smarter investments in the climate of financial caution. As a result, registration for this fourth annual OPPLive conference at the ExCel Centre is exceeding previous years. Delegates are already signing up for our presentation, which promises to offer insights into the emerging Caribbean development industry and strategic ways to maximize financial assets in the region, and we are certain that they will be highly satisfied. Continue reading "The OPPLive Conference 2008"