Expatriating

There has been a whole lot of press about Eduardo Saverin, a co-founder of Facebook making the decision to expatriate, and relocate to Singapore, which is where he actually lives. Wish that I could afford that. Singapore is one of the most expensive (and beautiful) cities in the world. The media has made a big deal out of this because Eduardo Saverin is about to make an absolute ton of money from the Facebook IPO, and he does not want to pay full US taxes on it.

I am actually sympathetic to that, and I do not hate him at all. I subscribe to the Sovereign Society and to International Living.  Both are encouraging US citizens to actively look at not only relocating to an overseas venue, but to choose one that will offer you citizenship and a passport.

In large part, both of these and Lee Bellinger urge this action for more than tax reasons. The primary driver is the fear of a) hyperinflation and b) regulation. Dodd-Frank tightenened the screws on overseas investors to the extent that most Swiss (or Lichtenstein) banks will no longer even talk to Americans. Move gold bars overseas? Nope. Coins? Nope. Your options are dwindling.

The Heritage article about Eduardo Saverin pretty much encapsulates this, Read to the end, please.

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