Fear Internationalization? It Could Mean Financial Security
By Sprott Money
Fear Internationalization? It Could Mean Financial Security
Written by Jeff Thomas (CLICK FOR ORIGINAL)
In the early sixteenth century, the Hunt-Lenox globe was drawn, showing uncharted (and presumably dangerous) areas, marked with the warning: “HIC SVNT DRACONES” – “Here are Dragons.”
Subsequent to that time, mariners sometimes adopted the phrase, “there might be dragons,” if they became concerned for their safety when in unfamiliar waters.
It’s now an archaic saying, yet it’s even more applicable today than in times of yore. There are literally millions of people (particularly in the EU, US and Canada) who are fearful that their country of residence is becoming increasingly less free and less safe for themselves and their wealth. Some are looking into the prospect of internationalizing themselves, but a much smaller percentage actually take the plunge. Why should this be so? Well, as in centuries passed, for many, the reason is that … there might be dragons.
Of course, none of the mariners of old had actually ever seen a dragon, so each one conjured up his own image, and this is just as true today. For those of us who advise on internationalization, here are a few perceived dragons that we hear about repeatedly:
I don’t know anything about internationalization. I wouldn’t know where to begin.
You’ve already begun. Follow the “International Man” website. It has over five years of archived articles that cover virtually every aspect of internationalizing. In addition, obtain a copy of “Going Global.” Go online to research destinations that fit your personal situation. Then, instead of a holiday to Disney World, go to a country that seems to you to be the most likely best choice for either a second home, or even a complete change of national residence. You’ll be amazed at how extensive and varied the opportunities are out there.
Won’t I just end up as a slave to a different country instead of my home country?
Not if you choose your destination well. Many countries are far less invasive to your freedoms and wealth than the three jurisdictions mentioned above. Some, in fact, are just as prosperous and well-developed as your present country, yet have zero direct taxes.
In addition, should you choose to live in multiple destinations, you’d be less “owned” as a visitor or temporary resident than if you were a full-time resident and citizen.
Will I have rights there, since I’ll be a foreigner?
For those countries that fall under English common law, your rights will be almost identical to those of the locals. (This is less true in countries that come under civil law – notably Spanish America and much of Europe.) However, most everywhere, you will be regarded as a guest and, in many ways be treated better than locals. In some countries, you would be treated better by both locals and the government …read more
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