There are 4 broad areas of internationalization.
- Savings: This covers how to setup offshore bank, brokerage and financial accounts, foreign real estate and “bolt-holes” in case of trouble, moving and owning gold overseas, and structures like foreign trusts that help to legally reduce taxes. Placing your savings outside the immediate reach of your local government ensures that they cannot be trapped in the case of capital controls, or outright seized at the drop of a hat, such as what happened when the government became sufficiently desperate in Cyprus.
- Yourself: Obtaining a second passport from another country and establishing legal residency in foreign countries.
- Income: The structuring of your cash flows to reduce dependency on any one source in any one jurisdiction. Establishing additional sources of revenue, international investment opportunities and trends, and setting up an offshore company.
- Digital Presence: This commonly includes your IP address (which can often pinpoint you to a precise physical address), email account, online file storage, and the components of personal/business websites.
Read the complete article at The International Man here.
Please Note: This article is to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it.