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  • Home
  • Countries

    Top Destinations:

    Whether you’re looking for fun and sun, a peaceful retirement, or the chance to earn some extra income, you’ve got a real world of opportunity open to you… In short, we’ve done our best to narrow down your best options, but only you can decide the right country for you.

    • Spain
    • Portugal
    • Panama
    • Belize
    • Colombia
    • Cyprus
    • Mexico
    • France
    • Montenegro
    • Browse All Countries

    Best For:

    • The Best Places To Retire
    • Health Care Abroad
    • Cost Of Living
    • Investing in Real Estate
    • Establishing Residency
    • Gun Laws In The World
    • English-Speaking Countries
    • Safest Places For Retirement
    • Best Places In Latin America
  • Budgets

    How Much Will It Cost You To Live Overseas?

    The only honest answer is, we have no idea. And neither does anyone else. The only one who can answer that question is you. Here’s the most important thing to understand about budgeting your new life overseas…

    Super Cheap

    • Chitré, Panama
    • Santa Marta, Colombia
    • Phuket, Thailand
    • Dumaguete, The Philippines

    Cheap

    • Medellin, Colombia
    • Boquete, Panama
    • Kyrenia, Cyprus
    • Hua Hin, Thailand
    • The Algarve, Portugal

    Affordable

    • Valencia, Spain
    • Cascais, Portugal
    • Las Terrenas, The DR
    • Pisa, Italy
    • La Rochelle, France
    • Mazatlán, Mexico

    Luxury

    • Ambergris Caye, Belize
    • Kotor, Montenegro
    • The Panama City Beaches
    • Paris, France
  • Resources

    Global Living

    • Living & Retiring Overseas
    • Raising A Family Abroad
    • Foreign Residency & Citizenship
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    Making Money

    • International Real Estate
    • Banking
    • Employment
    • Investing

    Follow Us:

    • Meet Our Experts
  • Real Estate

    Buying Real Estate For Cashflow

    • Discover tips and strategies used by global property investing veterans

    Explore Our Latest Posts

    • Learn how to invest and purchase property abroad…

    Go To The Overseas Property Alert Site

    • How To Become Independently Wealthy And Fund The Lifestyle Of Your Dreams
  • Conferences

    Upcoming Events

    • Explore Our Events Site

    Live and Invest In Spain Conference

    Offshore Wealth Summit

    Greece Workshop

    VALENCIA, SPAIN

    Sep. 17-19, 2025

    PANAMA CITY, PANAMA

    Oct. 15-17, 2025

    VIRTUAL

    Nov. 13, 2025

    Learn More About This Event
    Learn More About This Event
    PRE-REGISTER
    Learn More About This Event
    PRE-REGISTER
    • MORE EVENTS

    Contact Our Events Team

    Toll-Free U.S. and Canada:
    1 (888) 627 8834
    From Outside North America:
    1 (443) 599 1221
    Working Hours
    Monday – Friday 08:00 am – 17:00 pm EST.

    Reach us with your questions by email at: events@liveandinvestoverseas.com

  • Store

    Unlock The World

    • Access Your Library

    Overseas Havens Reports

    • Expats' comprehensive destination guides

    Conference Kits

    • Hours of coverage  from our latests conferences

    Lahardan Books

    • Titles on living and investing around the world
    • Explore Our Store
    Your passport to a life well-lived abroad

    Services

    overseas living letter offers affordable retirement guidance
    The Simon Letter Wealth Protection Insights
    Global Property Advisor Global Investment Opportunities

    Our Customer Service team is here to assist with any questions or concerns CustomerService@LiveandInvestOverseas.com

  • My Library
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Home Offshore

The Pathway To Success Overseas

The Most Profitable Decision You Make All Year

by Lief Simon
Aug 25, 2023
in Offshore
0 0
Casco Viejo Street In An Old Part Of Panama City, Panama. success overseas

iStock/helovi

Got any plans yet for next month? Why don’t you join me in Panama City for a few days?

It could be the most profitable decision you make all year… and I promise, we’ll have fun, too.

(Cocktail parties… rum tastings… schmoozing with the “best in the business”… it’s all on the schedule.)

The Offshore Wealth Summit on Sept. 20 to 22 is the most important event on my calendar.

It’s a chance for my readers, like you, to take back control of their lives.

Alongside my top offshore contacts, I lay out, step by step, the pathway to success in your overseas investments, protecting what you’ve earned, and enjoying more freedom than you have now…

Why exactly are the strategies you’ll learn at the Offshore Wealth Summit so important?

I sat down with Offshore Living Letter Managing Editor Ben Murnane so he could put his questions to me about the summit and why I believe an in-person gathering like this is the key to offshore success…

Here’s an edited transcript of our no-nonsense conversation…

BEN MURNANE: Going offshore can mean doing anything outside your home country. Taking advantage of any opportunities that are available to you on the international scene.

That’s really what setting yourself up offshore is about. Giving yourself options.

It really can mean the difference between protecting what you’ve built and what you’ve earned and having options in the event of the next government lockdown, or the next financial crisis, or being stuck with whatever the government decides to impose on you whenever it wants, be it the next lockdown, or shutting down bank accounts as happened during the truckers’ protest in Canada.

So in this interview we’re going to give a special preview of the best way to learn about and get access to these strategies—which is at the Offshore Wealth Summit happening in September.

And this really I think is one of the most important events on your calendar, Lief, would you say?

LIEF SIMON: Right, this is where I bring together all my offshore colleagues, experts, friends. A lot of the offshore information out there from other sources is overly complicated because they’re trying to sell you a service and they want you to think that only they can help you. There’s plenty of people who can help you, plenty of service providers. At our conference we do try dial it down, simplify things and really help you figure out what it is you need for your situation because one size doesn’t fit all.

BEN MURNANE: One question that I have, Lief, and I think maybe a lot of people might have, is don’t I need to be a multimillionaire or have a huge amount of assets to take advantage of these strategies?

LIEF SIMON: Back in the ’70s you did because before airline deregulation the cost of the flight just to get down to the Caribbean was expensive and the fees that you were charged for offshore services were exorbitant, because the idea was the service providers were saving you money via taxes so they could charge you an arm and a leg.

Today there’s more service providers, there’s lots of ways to structure things, and it’s really just a matter of what you have and how you want to protect it.

BEN MURNANE: Just to emphasize, we are talking about perfectly legal strategies here. You’ve never broken the law that you know about!

LIEF SIMON: Exactly. The news likes to sensationalize things like the Panama Papers and the Pandora Papers. Again, we get into lots of details for each of these kinds of topics at the Offshore Wealth Summit. So, banking, structures, residency, second citizenships, etc.

BEN MURNANE: And I know another thing that we’re going to cover at the Offshore Wealth Summit is the fact that there are still perfectly legal ways to shield your assets from the IRS. Well, there are certain assets that you don’t have to report to the IRS. Is that right?

LIEF SIMON: Yes. The key one is holding real estate in your own name. Again, more detailed discussion at the conference.

But those are, again, the types of things we talk about: what you have to report, how do you report it, the tax consequences for Americans, specifically. We also have a Canadian tax expert who won’t be at the event itself, but he will be doing a virtual presentation.

You’ve got to be able to connect all the dots. And that’s the point of coming to this event.

BEN MURNANE: The “five flags” theory of offshore diversification has been around for a long time. This is the idea of planting a flag related to a certain offshore strategy in different locations around the world. And everybody who attends the Offshore Wealth Summit will get that strategy really presented in detail.

But we can, I suppose, give a high level overview here of the different aspects of the five flags, Lief. So maybe you might take each of them in turn and just speak to their importance in an overall “Plan B.” We have the flags of residency and citizenship, asset protection, banking, and business. How does each one of those fit into a comprehensive strategy?

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LIEF SIMON: The banking ones and investment ones are easy to explain. Getting some of your assets out of your home country is just a smart thing to do. Americans think that America is an economic fortress, and it will be until it isn’t. You don’t know when something’s going to happen. Nobody expected the pandemic.

This is a story I tell all the time in writing and different conferences. But if you’re Argentinian, you grow up knowing you’ve got to have bank accounts outside of your home country because it’s a rollercoaster constant economic crisis in Argentina. And so anybody with any amount of money opens a bank account outside of Argentina, whether it’s in Uruguay, which is just over the border from Buenos Aires, just across the river, or farther afield. Because they know at some point, even if times are good right now, times will be bad again.

I learned that lesson when I was living in Argentina and they were pegged one-to-one with the U.S. dollar. Argentina was expensive because everything was outsourced. They didn’t make anything in the country anymore because they had the dollar. And in 2001, they had to go off the dollar peg because they weren’t bringing in enough hard currency, and they had a financial meltdown overnight.

Smart Argentinians had accounts outside of the country so they didn’t lose all their wealth when all in-country dollar accounts were converted to pesos overnight.

You lost minimum two thirds of your money overnight when dollar accounts were force-converted in Argentina at that time.

Now, this kind of thing may not happen in the U.S. But people have been talking about the demise of the dollar for more than a decade now. I don’t see that happening anytime soon. But fluctuating currency rates, bank issues—the banks that have closed recently in the U.S. You just want to have some diversification to stay safe.

Then you’ve got residency and citizenship, which give you options for being in countries long-term, for traveling more widely. And the great example I’m able to give now is that during the pandemic, I wasn’t trapped in any one country for a year and a half, as so many other people were. I was able to move relatively freely once flights were available from Europe to the U.S. to Panama and back and forth. Because I had both a U.S. and a European passport as well as another residency, in Panama.

BEN MURNANE: I think people may find the idea incredible, but you were able to take advantage of this loophole effectively because you had the dual

citizenship and another residency as well, that you effectively were exempt from lockdowns in a certain way.

LIEF SIMON: Yeah, for travel purposes.

So that’s the advantages of second citizenship and second residency.

And then when it comes to offshore structures for you or your business, which is another flag, that’s a whole different conversation about asset protection and really estate planning and things like that. We go into a lot of detail at the conference about what structures make sense. Do you even need a structure to hold your real estate offshore or your other investments? It’s a complex conversation that we dig into during the main event.

This year, we’re also offering an Executive Program, the weekend after the Offshore Wealth Summit for a limited number of people, where you can work with me to get a personalized offshore plan including the structures you need for asset protection, the best way for you as an individual to get a second residency, and so on.

Most importantly, I have some of the Offshore Wealth Summit speakers staying over the weekend as well, so we can dig in deeper.

So, if you’ve got a complex situation or you’ve come to the previous Offshore Wealth Summits and you’ve got the basic knowledge, but now you’re trying to put something together and need some more help and some more consultation, then that’s what the Executive Program is meant for.

(If you want to watch the full conversation between myself and Ben… you can do that right here.)

Stay diversified,

Lief Simon signature

Lief Simon

Editor, Offshore Living Letter

Tags: 'Foreign Residency''Invest Offshore'offshore wealth summit
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Lief Simon

Lief Simon

Lief Simon has lived and worked in 7 countries on 5 continents and traveled to more than 75 countries. His real estate investment career began with a $5,000 down payment on a three-flat building in Chicago. Less than three years later, Lief sold the building for a leveraged return of 3,000%—$150,000 in profit after closing costs and commissions.

From there, he turned his attention overseas and has bought property in 24 countries including France, Croatia, Portugal, Ireland, Belize, Spain, Argentina, Cyprus, Romania, and beyond. Thanks to his decades-long career as a global property investor, Lief has built a multi-million-dollar portfolio that includes rental properties, significant land holdings, and 7 personal residences.

Lief has established residency in 3 countries and acquired a second passport from Ireland.

In 2008 Lief and wife Kathleen Peddicord made the most important investment of their lives—a 215-acre oceanside finca, known as Los Islotes. There, on Panama’s largely undiscovered Veraguas coast, they’ve installed underground electricity, water, and internet and built a forever family home that sits at the heart of their ultimate vision: a gold standard private residential community for those in search of a true safe haven escape.

Lief’s latest book, “Cowboy Millionaire—The New American Pioneer,” collects all the wisdom he has learned in three decades of living and investing outside America.

He offers advice on international diversification in his twice-weekly Offshore Living Letter and monthly Simon Letter dispatches. For real estate investment opportunities, check out his monthly Global Property Advisor service.

If you’d like to meet Lief in person, join him for one of our upcoming in-country conferences. You’ll find further details here.

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To Live Overseas?

Super Cheap

  • Chitré, Panama
  • Santa Marta, Colombia
  • Phuket, Thailand
  • Dumaguete, The Philippines

Cheap

  • Medellin, Colombia
  • Boquete, Panama
  • Kyrenia, Cyprus
  • Hua Hin, Thailand
  • The Algarve, Portugal

Affordable

  • Valencia, Spain
  • Cascais, Portugal
  • Las Terrenas, The DR
  • Pisa, Italy
  • La Rochelle, France
  • Mazatlán, Mexico

Luxury

  • Ambergris Caye, Belize
  • Kotor, Montenegro
  • The Panama City Beaches
  • Paris, France

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Learn More About This Event

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PANAMA CITY, PANAMA Oct. 15-17, 2025
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Lahardan Books

  • Titles on living and investing around the world

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