2011 has been a very turbulant year for me and the world, with the european crisis and the debt strugles of the us, the the slowing of the BRIC nations.

I have not updated as much as I would have liken have been totally taking a back seat for the last few months of the year.

2012 should be a differnet prospect. even thought the world is still going to be struggling to find it feet, thanks to the slow responsed by the political leaders of the world.

I will be embarking on a new direction, one which will see me releasing a new consulting service for individuals that want to take advantage of the new offshore developments and those that want to create a sovereign lifstyle for them selves. I will also fill you in on what i have been doing whilst off the air for the last few months, some exciting stuff here.

Anyway more on all that in the new year.

Hope you and your families are well and safe.

Happy Christmas and a happy new year.

Jack

I thought I would let you all know what my take on this US Rating down grade is.

Well quite simply, I do not think it will have that much of an impact to the ordinary citizen straight away, it is more a wake up call to those in charge that the markets have had enough of the laziness in washington and that it is now time for both sides of the isle to wake up, smell the roses and get on with making the USA a great country again.

Now if that does not happen I can see that there will be another downgrade and the other ratings firms will most likely follow. This then will have lasting impacts for all americans, the cost of debt and the costs to financial freedom will once again take a hit. It will become harder and more costly to do business or just make ends meet in the US. there will be ever more Tighting of the rules of money transactions, a tighening of the money supply and a reduction in the jobs and security of those jobs on offer.

What should you do, Well it is a wake up call for you as well, you now need to look at your position in this, Are you financial secure? do you have an escape plan? if all goes really wrong over the next few years. If you don’t time to start looking for ways to secure your future, an offshore bank account, a second passport or an entire new life abroad. What do you need to do now to make sure that whatever happens in washington does not effect you or your ability to look after you and your families wellbeing.

For the no Americans reading this it is also a time look at what is happening in your own country and time to reflect on the possability that it could happen to you as well, No western country today is immune from what we are seeing in the USA, and witht he reach of Global organisation like the IMF / World bank etc, your financial freedoms are under threat as well. Basically what happens to one will filter own to all.

So you can see int he short term I see that not much will happen but if no action is taken by either you or the government then that will be and entirely differnet story. the time is now to make the change that you know you have always wanted to make.

All for now

Jack

P.S – if you want a hand to start you offshore jounry do not hesitate to contact me for a consult.

So here is my 3 best ways to go about obtaining that all important second (or third) passport,

Why do I say important, well it is the ability to be able to have options open to you, if for say your home country becomes undesirable for some reason, example to many intrusions into ones financial privacy, you could open a bank account or even a company in an offshore jurisdiction with your newly obtained nationality, and that way applying a small but helpful veil around your offshore banking and company activities.

1. From my experience the best way is to see if you can obtain a passport by decent, it is amazing how many people out there are able to get a second passport this way. I myself was able to obtain one this way, thanks mum. If your parents or one of your parents were born overseas it will be quite likely you are able to obtain a passport this way.

2. If you are unlucky not to be able to use decent then the next best option is to pack up and move to a country in which you will be able to obtain a residency then after time a second passport, this is not the quickest way but it is the best way to get a passport that will not be easily removed by a government order. There are many countries around that offer such programs, in fact just about every country will have a way to obtain residency then a pathway to citizenship and a passport.

3. The last way to get a passport in my opinion is the economic passport programs, (Buyer Beware) there are a lot of scams around these programs and not to many actual programs left running, I know of only 1 that would be of any value but it is not cheap. But if you have the means it is doable. You would be looking to invest around $250,000 in property plus fees around $50,000 to $75,000.

so there you have it three ways in which you can obtain a second passport.

If you are interested in a learning more about Second Passports or Setting up your Offshore activities or are not sure where to start, why not get a one on one consult from me and we can sort out all the details.

Jack

Well it’s this time a year agian for many, tax time.

Remember to get all your returns and advices into the tax authorities by 30 jun.

Also for my US readers remember that gold held in an offshore account is now reportable on your FBAR.

now, if you want to reduce your tax now is not the time, but soon after tax time is, look at what you can move Offshore or how you restructure your life to help with this.

hope you all have a great day

thanks

jack

The key to having even more time and freedom to live the offshore lifestyle is OUTSOURCING

This was the #1 thing that I learnt the hard way, I was trying to do everything my self, I had no time to do the things I wanted to do I was a slave to my business.

Then I learnt about outsourcing and this product helped: OUTSOURCE CONTROL

Have a look at this product it will help you take control of your time.

“Progressive entrepreneurs realize the unstoppable power of outsourcing to handle aspects of their business that are essential but simply don’t make sense for them to deal with personally,” says David Walsh, entrepreneur and author of Source Control, an e-book on effective small business outsourcing. “Small business, augmented by a global pool of human capital, can compete directly with the biggestplayers in their space, and win.”

“Handing off work forces you to objectively, ruthlessly and systematically consider your activities and the steps taken to perform them,” Walsh says. “Defining a process flushes out inefficiency.”

Thanks

Jack

Here is a couple of jobs that people I know living the Permenent Traveller / Sovereign Individual Lifestyle.

this list is by no means a complete list, if you can perform a job either remotely or is portable you can do it with this lifestyle.

1. Consultant – (Business, Real Estate, Country Introduction, E-commerce, Agriculture)
2. Freelancer – (Photography, Writer, Blogger, Artist, 3D Modeller)
3. Investor – (Real Estate, Stocks, Private Equity, Commodities)
4. Netpreneur – (Blogger, Internet Marketer, E-Tailer, Consultant)
5. Fly in-Fly out worker – (oil rigs, Remote construction, security, Merchant Navy)

There are others, these are just to get you thinking,

Other jobs are more of a normal expat nature like; teaching, running a hotel or resturant, Banker, Other Professional.

The main thing to remember is that to be successful in what ever field you choose is that you must be adding value, you need to give your customer the feeling of value for money.

Hope this gets you thinking about what you can do in your new offshore adventure.

thanks

Jack

I’m asked by people quite offen that it must have been the allure of Tax Savings that where the driver for me to move offshore.

Well the tax issue was a major issue for me in the begining and I thought this was why I wanted to move offshore, Mainly driven by the rules governing expats from my home country. After I looked into moving offshore I found that I was more interested in the other and bigger opportunities that living and working offshore could afford me, from increasing my freedom and privacy to the new and exciting people that I could meet and network with.

Having made the move offshore and restructured my life and business to accomodate this new way of life, I have found that the tax issue was just a small part of my actual motive for wanting to become a Sovereign Individual. Now don’t get me wrong the savings made by this move are good, thou I don’t think that this should be the major or only reason to make the move. If you do I think that it will be your down fall, of what could be and would be a great opportunity to engage and create something of value for you and your family present and future.

Becoming a Sovereign Individual takes a commitment from an individual to not only want to improve there way of life but to also be part of a new way of thinking. You must be able to think more like a frontier explorer then a 9 – 5 office worker, for me anyway (Even thought some people live this lifestyle as a 9 – 5 office worker), the chance to create a living by adding value to a service or product is just my style.

So by looking past the Issue of TAX as a motive, this move to live and work offshore will be more fulfilling and help you to stay within the rules of the system with which we all to some degree still have to live to. Opportunities that will open up to those that do make this move will be overwhelming at first but for me they are just part of a normal day.

Well that’s all from me

Hope you all have a great day

Jack

Sorry for not updating more then I have, I have been in the middle of a total reorganisation of my business and perosnal affairs. This is something that we all should do from time to time, it helps us to see if there are any areas of our lives and or businesses that need attention too.

During this reorganisation I have been able to move more of my business into automation thus freeing up my time even more to spend it on me and those I live and network with.

anyway that’s all from me for now,

Jack

This has great benefits for both investors and multinational companies. As they can establish structures in a well respected country, that has both a long and stable government and is member of the OECD. New Zealand is fast becoming a new financial centre to take notice of.

Structures now available:

New Zealand Foreign Trust

The New Zealand Foreign Trust law was established in 1988, marking it the first vehicle establisheb under the new thinking of not taxing Non-Residents’ on their foreign sourced income.

A New Zealand Foreign Trust is comprised of a non-resident Settlor, a non-resident Beneficiary, and a New Zealand Resident Trustee. The New Zealand Resident Trustee is charged with managing the assets and affairs of the Trust. Within this capacity a Trustee company may carry out business on behalf of the Trust, including buying and selling assets or entering into contracts, or conducting business in New Zealand and overseas.

The New Zealand Foreign Trust will not face New Zealand taxation on the incomes derived from its overseas activities. When distributions of the Trust’s non-New Zealand sourced incomes are made to the non-resident Beneficiaries, there will be no New Zealand income taxes arising for the Beneficiary. In accordance with the Trust agreement, there are no requirements for mandatory distributions during the lifetime of the Trust, and all incomes are allowed to be retained within the Trust.

New Zealand Limited Partnerships

New Zealand Limited Partnerships (NZ LP or LP) established in law in 2008, are a highly sought-after and valuable vehicle for the planning of financial services and asset protection

New Zealand Limited Partnerships consists of; a Limited Partner, a General Partner, and a Partnership Agreement that binds their actions and obligations to the LP. The funding for the LP is sourced from the Limited Partner, with the General Partner typically not depositing any capital into the entity. The General Partner carries out the day-to-day management of the Limited Partnership, with the Limited Partner being restricted to a prescribed set of actions. The General Partner holds unlimited liability for the obligations and debts accrued by the Partnership. The Limited Partner only faces liabilities to the extent of its capital contributions.

The New Zealand Limited Partnership is unable to retain its earnings and all of its profits must be distributed to the partners, in accordance with their proportion of the total capital invested into the Limited Partnership. As long as the Partnership’s incomes were sourced from overseas, the non-resident partners will not be subjected to tax in New Zealand.

New Zealand Look-Through Companies

New Zealand Look-Through Companies are the newest national entity which allow for tax free foreign incomes for non-residents.

The Look-Through Company is a regular New Zealand Limited Liability Company which has applied for and been approved to be a Look-Through Company, Prior to the application, all the shareholders and directors of the company must elect for the company to be a Look-Through Company. Once a company is registered as a Look-Through Company, its shareholders (instead of the company) are deemed to hold direct interest in its affairs, in proportion to the shareholdings. As such, the shareholders are seen as carrying out the Look-Through Companies activities, holding its assets, being party to any agreement made by the Look-Through Company.

As the name might suggest, the New Zealand Look-Through Company does not retain its earnings, and they are distributed between the shareholders, in proportion to their shareholdings. The passed-through incomes are taxed at the shareholders personal tax rate. If the shareholder is a non-resident and the Look-Through Companies incomes are derived from overseas activities, then there will be no New Zealand tax assessments applicable on the pass-through incomes.

Jurisdiction Introduction:

The Singapore government  is fully committed to the continued development of Singapore as the leading financial centre in Asia. The government ensures that its policies and legislation continue to meet the needs and interests of the international financial community in an environment which engenders trust and confidence. Singapore is becoming the wealth management hub and location of choice for a lot of financial operations in the Asian region.

Corporate Entity Summary:

General

• Type of entity – Resident/Non Resident
• Type of law – Common, Based on English Common Law
• Principal Corporate Legislation – The Companies Act. And The Income Tax Act.
• Powers of entity – Same as a natural person
• Yearly government fees  - SGD$365
• Exchange controls – No
• Language of Documents / Legislation – English.
• Language of entity – Latin Alphabet.
• Disclosure of beneficial ownership – No

Share Capital or Equivalent

• Standard currency – SGD$
• Permitted currencies – Any
• Minimum paid up – SGD$1
• Usual authorised – SGD$1,000
• Classes of shares permitted – Ordinary shares, preference shares and redeemable preference shares.

Directors

• Minimum Number – One
• Local Required – Yes – One
• Corporate Directors Permitted – Yes
• Publicly Accessible Records – yes
• Location of Meetings – Anywhere

Shareholders

• Minimum Number – One
• Local Required – No
• Corporate Shareholders Permitted – Yes
• Publicly Accessible Records – Yes
• Location of Meetings – Anywhere

Company Secretary

• Required – Yes, Must be a natural person
• Local or qualified – Local
• Registered Agent / Office Required – Yes

Accounts

• Requirement to Prepare – Yes, exemptions apply

• Audit requirements – Yes, exemptions apply
• Requirement to File Accounts – Yes, exemptions apply
• Publicly Accessible Accounts – Yes, exemptions apply

Taxation

• Requirement to File Annual Return – Yes
• Corporate Taxation – Nil on Foreign Profits, 17% on local profits, exemptions apply
• Double Taxation Treaties – Yes

About Singapore

Introduction

Singapore is situated at the southern tip of the Malaysian Peninsula. Strategically located along the major shipping and air routes of Asia, it is the major nerve centre for trade and investments in the region.
Spanning just over 622 sq km, Singapore though small, is undoubtedly an advanced and bustling economy. It thrives on an excellent infrastructure, highly educated labour force, political stability and an efficient business environment. Singapore is an ideal holding company and headquarters location and a gateway for foreign investments in to the emerging economies of Asia, such as China, India, Vietnam, Indonesia and Thailand.

Population

Singapore has a population of approximately 4.35 million people. More than 75% are Chinese with the remaining 25%, mainly Malays, Indians and others. The different races live together with mutual respect and in racial harmony. The work force is well educated and hardworking and there is a high level of managerial and technical expertise available.
The most commonly used official languages are English and to a lesser extent, Chinese, Malay and Tamil which are also official languages

Political Structure

The People’s Action Party, its single dominant ruling party since its independence in 1965, rules Singapore. There is no strong opposition party in Singapore.
The Singapore Government vigilantly plans, manages and administers the country’s socio-economic development. Singapore is one of the world’s most politically stable and corruption-free countries.

Infrastructure and Economy

Singapore has an excellent infrastructure with state of the art communication facilities and road transport system. It operates busy and efficient air and seaports and is a free port with no customs and excise duties on most items.
Singapore is also one of the leading international financial centres. Offshore investors are well served by representatives of most major international banks, financial institutions, investment management companies and accounting and legal firms.
The Singapore Government actively woos foreign investments with generous tax and financial incentives. This has successfully attracted numerous regional holding companies, corporate headquarters, business and service centres, group finance and treasury centres as well as investments in high tech industries, media and communications, shipping and financial services.

Currency

The Singapore Dollar (SG$).

Additional Entity Information

Procedure to Incorporate

Submission of name approval, Memorandum and Articles of Association and details of shareholders & shareholdings, registered office address and appointments of directors, company secretary and statutory auditors.

Restrictions on Trading

Generally no restrictions except for financial services, education, media related or other politically sensitive businesses.

Name Restrictions

Name resembling names of existing companies or which are undesirable or politically sensitive will be rejected.

Names Requiring Consent or a Licence

Bank, Financial institution, insurance, fund management, university, Chamber of Commerce and other similar names, etc.

Suffixes to Denote Limited Liability

Private Limited or Pte Ltd for privately held companies.

Licence Fees

Minimal annual statutory filing fees of approximately S$20.

Jacks verdict

Rating: 4 1/2 Stars

Use: Trading Companies / Banking / Day to Day operations / Investment

Verdict: Overall Singapore for me is a top class jurisdiction providing everything needed for the operation of an offshore company, good government, access to world class services, international respect. Thou the draw back of having to file accounts and Have local directors company secretary does make it a time consuming and more costly place to incorporate. That said with the governments outlook for international business these draw backs can be overcome.
I like Singapore as a place to live and as a place to conduct day to day business from, Singapore is ideal for the expat wanting to locate to a very modern city that respects expats and has a very progressive set of laws that makes doing so easy.
Structuring your operations correctly in Singapore and you will have one of the very best offshore structures available.

If you are interested in a learning more about Setting up your Offshore company or are not sure where to start, why not get a one on one consult from me and we can sort out all the details.

Jack