Top Money Haven
Dec. 10, 2008
Panama City, Panama
PLUS:
- 8 Reasons Panama Is The World's Top Business Haven...
- All-expenses-paid Weekend On Mexico's Riviera Nayarit...
- How Much To Retire To Costa Rica?...
AND:
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The bad news is: You aren't likely to find a job on your own overseas.
But here's the good news: That doesn't mean you can't create the income you
need to live where and how you want.
You could launch a new life in Paradise 90 days from today.
Here's how.
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Dear Overseas Opportunity Letter Reader,
"Panama is one of the best places in the world to think
about starting a business right now," writes the best offshore and tax
attorney I've ever worked with,
Chris Rusch, this morning.
"I have the following basic requirements when considering a place as a
business haven. If it doesn't offer these benefits, you're spinning your
wheels trying to do business locally. Panama boasts every one of these
advantages:
- Panama imposes low or zero tax on foreign-source income. Assuming you are
not selling a product or service to Panamanians and you have a proper
operating structure, you can legitimately operate near tax-free in this
country.
- Panama has strong telecom and Internet services. There is nothing worse
than for an American or a European to call a foreign office and get a bad
connection. It makes him think he's calling some Banana Republic, not a
serious operation. A strong infrastructure for telephone, website hosting, and
e-mail service allows your business to operate efficiently and presents a good
image to potential clients and customers all over the world.
- If you are going to market to people in the United States, you need to be
in the same time zone. Attempting to service the U.S. from Asia or Europe is
tough. It may work for a few months, but it'll wear you out.
- Panama has strong human resources. However, the growth of the call-center
business in this country is pushing up the rate for English-speakers. A
quality assistant in the U.S. should earn about US$2,300 per month; in Panama,
you can hire a good, English-speaking assistant for US$600 to US$800 a month.
Experienced and capable (and, again, English-speaking) web and IT support
costs US1,200 to US$2,000 a month.
- You need a stable economy and a stable currency to feel safe doing
business in any country. Panama is a U.S.-dollar-based economy; an American
couldn't ask for less currency risk. Of course, you can keep large deposits
elsewhere, such as in Switzerland.
- Panama has little or no pollution compared with many big international
business cities, such as Mexico City, Beijing, and Bangkok.
- Quality suburban living is possible outside Panama City, and Panama City
is cleaner than most comparable capital cities.
- There are plenty of direct flights in and out of Panama City.
"All this and earthquake- and hurricane-free!"
Kathleen Peddicord
P.S. Chris is happy to answer questions. Reach him here:
TaxExpert@LiveandInvestOverseas.com
How Are You Going to Be Able to Afford to Retire?
Seeking and building a new life abroad is not only the most sensible way to
approach retirement in the current global market climate...
It's not only the best (maybe the only) way to assure
yourself that your retirement funds will carry you all
the way through retirement...comfortably and even in style...
It's not only the best way to make sure you're able to sleep at
night...that you're not kept awake at 3 a.m. by money and budget
concerns...
It's also the start of the greatest adventure of your life. The most fun
you'll ever have.
The New Retirement Revolution
---------------
"Kathleen, we operate a Fly-and-Buy outfit 20 minutes north of
Puerto Vallarta that I think your readers would be interested in
knowing about. We cater mostly to Americans and Canadians wanting to learn
more about Mexican real estate. The concept is simple. Our clients fly down
on their own dime. Once they arrive, we take care of all on-site expenses.
Clients stay in a five-star hotel on the beach, and all food, beverage,
lodging, entertainment, and education are covered by our company.
"We hold seminars with experts speaking about all aspects of purchasing
property in Mexico as a foreigner. Stewart Title discusses their title
insurance program; executive members of the Riviera Nayarit tourism board
discuss the growth taking place in this part of the country; Monex Banking
discusses the Mexican economy and the Fideicomiso (Mexican Trust); Mexlend
presents the loan product available to foreigners specific to our projects;
and representatives of our group talk about market conditions and current
opportunities.
"We tour the bay in a beautiful catamaran, eat at some of the best
restaurants, and enjoy cocktails in the number-one beach club on the Pacific
coast. All this as part of a first-class tour with an emphasis on education.
There's no hard sales pitch.
"The developer we represent has more than 35 years experience and is the
only group with a AAA track record, meaning they have always completed their
projects on time and within budget.
"Here
is a link to a Texas news station that did an exclusive report of our
weekend event.
"For more information, your readers can
get in touch here."
-- Aaron Fischer, Developer Direct, Riviera Nayarit, Mexico
"I am seriously considering a relocation to Costa Rica.
However, one of your recent newsletters was very discouraging with regards
to the
minimum income required to live in this country. What is the income
requirement for resident retirees now?"
-- Ron Lamar, United States
We reported last month on the proposed plan to increase the financial
requirements for pensionados in Costa Rica from US$600 to US$2,000
and for rentistas from US$1,000 to US$5,000 (!) a month.
Unfortunately, we can't tell you anymore today. Costa Rica Correspondent
David Stubbs explains that, "There's no further news. Some are saying not to
worry...that changes will be made before the proposal becomes law. However,
others insist that the new law is moving rapidly through the government
processes and could pass as proposed."
We'll let you know more as soon as there's more to know.
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