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A five-point plan for those with courage enough to pursue freedom.
Today, millions of the wealthiest and most productive people on the planet take advantage of the best that each country has to offer. Governments are viewed as providers of facilities and services, like hotelkeepers. If they offer good accommodation and make you feel comfortable and prosperous, you stay. If your government becomes too demanding or too nosy, or if a competitor offers a better deal, you can move on. Economic opportunities, financial privacy, taxes, extradition treaties, social values, military obligations, quality of passport, stability of government, medical standards, respect for property rights, personal safety and freedom of travel, thought and action are all taken into consideration when choosing legal residence and citizenship.
People of intelligence and wealth owe it to themselves and their descendants to have more than one flag. No one with common sense should give all their assets or allegiance to just one. Why? No country or government has ever survived more than a few generations without annihilating itself or its own middle and upper classes. Even in that last bastion of capitalism, the U.S. people of property have been thrice pushed out of the country. In 1780, the entire middle and ruling class was forced to move to Canada; these were the Tories who supported England in the American Revolution or War of Independence.
In 1865, it happened again. All large landowners who supported the Confederacy in the Civil War migrated to Mexico, Europe or South America. In the post-1917 period, prohibition, compulsory military service, confiscatory income taxes and suffocating government regulations once again caused many independent-minded Americans and their European counterparts to seek new flags. They made the amazing discovery that, as expatriates or tax-exiles abroad, they need not belong to any particular country nor participate in its senseless policies.
The PT’s relationship with government is a matter of choice, an option. The passport you hold and the country where you live should not be a burden that you were born to and must be saddles with forever. No one government can be trusted to control all your money. Government does not have your best interests at heart. Politicians are interested in redistributing wealth. In the end, they will only succeed in redistributing taxpayers. The major portion of all liquid private wealth, the smart money, has already been anonymously registered offshore. It has been re-flagged.
Individuals can remove themselves from the control and jurisdiction of any government by acquiring dual-citizenship, investing internationally and becoming human multinationals. Departing physically and permanently is not required. A PT can live where he wants, when he wants. The secret is to effect a change of legal status. Many wondrous benefits can be achieved by merely wrapping yourself and your assets in a new flag.
In order to accomplish this redistribution, you merely have to arrange your assets according to the following simple outline. Your five flags:
Flag 1: Passport and Citizenship. These should be from a country unconcerned about its offshore citizens and what they do outside its borders. There must also be no tax or military requirement for non-residents. Passports must be available to foreigners. Dual or multiple nationality is one of the cornerstones of the PT philosophy. The PT should strive to have several passports regardless of original nationality. A second passport always comes in handy and has often saved the skin of many an individual during times f war, persecution and political upheaval.
Flag 2: Business Base. These are the places where you make your money. They must be different from the place where you legally reside, meaning your personal fiscal domicile. They should also be places that give free land, grant interest-free loans or offer a tax holiday to your business without subjecting you to over-regulation. Good access to contracts, labor markets or materials is also important. London, Tokyo and New York are the big apples for finance and insurance. Zurich, Milan, Singapore and Frankfurt are among the good second-rank contenders.
Flag 3: Residence and Domicile: These should generally be in a tax haven with good communications systems. A place where wealthy, productive people can be creative, live, relax, prosper and enjoy themselves, preferably with bank secrecy and no threat of war or revolution. Monaco, Panama, Andorra and Switzerland are all recommended.
Flag 4: Asset Management: This should be a place from which assets, securities and business affairs can be managed by proxy. Requirements are the availability of highly competent financial managers, confidential banking and the lack of taxation of non-residents or non-citizens. Possibilities include: Austria, Luxembourg, Switzerland, New York and London.
Flag Playgrounds: These are the places where you actually physically spend your time. Quality of life is top priority. Normally, because of legal restrictions on how long one many stay without being considered resident for tax purposes, it is necessary to have from two to four playgrounds, although other arrangements can be made if you want to spend all of your time in one playground. However, for the most part, the PT should try to avoid spending more than 90 days per year in any particular country.
My personal recommendations: For no nukes and good fishing: New Zealand. For the most interesting sec life imaginable: Thailand, Costa Rica or the Philippines. For a superb year-round climate: California or Queensland, Australia. For the gourmet in you: the French Riviera or Hong Kong. For stimulating parties and an active social life: Paris, London or San Francisco. For the best things at the cheapest prices: Singapore, Taiwan and Hong Kong (for consumer goods), Denmark (for cars), Ireland (a summer home), Buenos Aires (a winter home).
For now, consider the following possible scenarios:
Flag 1: A second passport from Canada, Brazil, Italy or Australia.
Flag 2: A business or source of income in New York, London or Singapore.
Flag 3: A legal or fiscal address in Monaco, Panama or Andorra.
Flag 4: Bank accounts or other assets registered in Austria or Luxembourg through building companies, trusts or foundations.
Flag 5: Friends and fun in Paris, Bangkok, Manila, Buenos Aires, Sydney, Cape Town and San Francisco.
Every PT should know and understand that governments only have power, i.e. jurisdiction, over citizens within their home territory or colonies. For this reason, the PT should generally stay out of the country on whose passport he travels. His major assets should be invisible and far away from the country in which he actually lives. His lifestyle should be as humble as possible.
By using the PT strategy, you too can get the most out of life. Once you have at least your emergency passport and enough money to survive at your destination, you can feel secure and prepare for a plunge into previously uncharted areas that will enrich your life. Five flags are better than two. Two are better than one.
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