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Table of Contents
Number 1: Switzerland......... 4
Number 2: Republic of
Singapore............................. 5
Escape from America
The 6 Top Countries For Residence,
Dual Citizenship
and
Second Passports
Number 3: Canada................ 6
Number 4: Mexico................ 7
Number 5: Belize.................. 8
Number 6: Panama............. 10
By Robert E. Bauman, JD
The Sovereign Society
Delray Beach, Florida
Tel: (888) 358-8125
E-mail: [email protected]
Website: www.sovereignsociety.com
© 2010 Sovereign Offshore Services LLC. All international and domestic rights reserved. No part of this publication may
be reproduced in any form, printed, or electronic, without prior written permission from the publisher, The Sovereign
Society.
Notice: This publication is designed to provide accurate and authoritative information in regard to the subject matter
covered. It is sold and distributed with the understanding that the authors, publisher, and sellers are not engaged in rendering legal, accounting, or other professional advice or service. If legal or other expert assistance is required, the services
of a competent professional advisor should be sought.
The information and recommendations contained in this report have been compiled from sources considered reliable.
Employees, officers, and directors of The Sovereign Society do not receive fees or commissions for any recommendations
of services or products in this brochure. Investment and other recommendations carry inherent risks. As no investment
recommendation can be guaranteed, the Society takes no responsibility for any loss or inconvenience if one chooses
to accept them. Any information or statements contained in this publication are not to be considered by the reader as
personalized investment advice. The authors and any agents of The Sovereign Society are not licensed under U.S. or other
securities laws to address particular investment situations and nothing herein should be deemed as personalized investment advice.
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Foreword
Americans find it difficult, in a nation with constitutionally guaranteed civil rights, to imagine
that one day the government could take away our freedoms.
Yet in my lifetime and that of many of my contemporaries, that is what we witnessed in
Germany, Poland and the occupied territories during World War II. There was at first a gradual,
and then the total, erasure of civil and economic rights. By war’s end in 1945, millions had died,
and millions more, who were lucky enough to survive, became displaced refugees who lost
everything — property, homes and family.
Yet, when this turmoil began in the 1930s, some individuals were smart enough to realize early
on what was happening. These individuals planned accordingly and escaped with their lives and
their fortunes. They got out before asset confiscation, currency controls and financial restrictions
were clamped down in their home country.
I don’t mean to overstate the seriousness of the current situation in the United States. But I
believe sovereign individuals have to accept the fact that our rights and liberties now are under
attack by our own government. Equally alarming is the perilous economic state of not only our
government, but our country as well.
Consider the facts. Between financial rescue missions and the economic stimulus program,
government spending accounts for a bigger share of the nation’s economy — 26% — than at any
time since World War II. We’re facing a $2 trillion deficit in 2009, a $12 trillion national debt,
and a declining dollar, while the president calls for more and bigger programs for health care and
just about everything else. Higher taxes, inflation and economic collapse seem all but inevitable.
Given this dangerous state of affairs, common sense says you should create and implement an
escape plan for your family and your assets.
If the worst comes to pass, you will be ready. This report may help you choose your next home
country. Over the next few pages, you’ll hear about six of the best destinations for Americans to
secure a second citizenship and take up residence.
For your information, the content of this report is taken from the 7th Edition of The Passport
Book which I authored. The book covers nearly 100 countries, their residence and citizenship
rules, as well as the basic factors mentioned above.
The Passport Book is available in the Online Bookstore of The Sovereign Society here.
Legal Counsel, The Sovereign Society LLC, Delray Beach, Florida
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Number 1: Switzerland
Government: Capital:
National Day:
Population:
Total Area: Languages:
Ethnic groups:
Religion:
Life expectancy: Currency: GDP: GDP per capita: Confederation, structured as a federal republic
Bern
Founding of the Swiss Confederation: 1 August (1291)
7,604,467 (July 2009 est.)
15,942 sq. miles / 41,290 sq. kilometers
German (official) 63.7%, French (official) 19.2%, other 8.9%, Italian (official) 7.6%, Romansch (official) 0.6%
German 65%, French 18%, Italian 10%, other 6%, Romansch 1%
Roman Catholic 41.8%, Protestant 35.3%, none 11.1%, Muslim 4.3%, unspecified 4.3%, Orthodox 1.8%, other 1%, other Christian 0.4%
80.51 years
Swiss franc (CHF)
US$348.6 billion (2008 est.)
US$38,500 (2008 est.)
Passport highlights: Obtaining residency in Switzerland has never been easy, and has
become increasingly difficult as the Swiss, like most Western Europeans, have begun to resist
the migration of workers from the Mediterranean basin, Eastern Europe and Africa. Once
accepted for residency, however, Swiss citizenship is available after 12 years.
Why Switzerland
Switzerland is our choice as the best all around asset and financial haven in the world.
For centuries, Switzerland has acted as banker to the world and has acquired a reputation
for integrity and strict financial privacy. It is also a great place for the wealthy to reside.
Switzerland may be neutral in politics, but it’s far from flavorless. The fusion of German,
French and Italian ingredients has formed a robust national culture, and the country’s alpine
landscapes have enough zing to reinvigorate the most jaded traveler. Goethe summed up
Switzerland succinctly as a combination of “the colossal and the well-ordered.” You can be
sure that your trains and letters will be on time. The tidy, just-so precision of Swiss towns is
tempered by the lofty splendor of the landscapes that surround them. There’s a lot more here
than just trillions of dollars (and euros).
It is currently estimated that Swiss banks manage at least one-third of all assets held offshore
by the world’s wealthy, an estimated three to four trillion U.S. dollars. As a safe haven for cash,
Switzerland has become something of a modern cliché.
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Switzerland’s bank secrecy law dating from 1934 long has been under attack from major welfare,
high tax nations, especially Germany and France. These nations see Switzerland as a secret
haven for tax evaders. In 2009, under great pressure from other nations, Switzerland agreed to
adopt OECD tax information exchange standards. This will require renegotiation of some 70 tax
treaties with other nations.
Swiss Residence
Switzerland has one of Europe’s highest percentages of foreigners living within its borders. Of 9
million residents, about 20% are from other countries, especially workers from Spain, Portugal,
Italy, and the former Yugoslavia.
Number 2: Republic of Singapore
Government:
Capital:
National Day:
Population:
Total Area:
Languages:
Ethnic groups:
Religion:
Life expectancy:
Currency:
GDP: GDP per capita:
Parliamentary republic
Singapore City
National Day, 9 August (1965)
4,657,542 (July 2009 est.)
268 sq. miles / 693 sq. kilometers
Mandarin 35%, English 23%, Malay 14.1%, Hokkien 11.4%,
Cantonese 5.7%, Teochew 4.9%, Tamil 3.2%, other Chinese dialects 1.8%, other 0.9%
Chinese 76.8%, Malay 13.9%, Indian 7.9%, other 1.4%
Buddhist 42.5%, Muslim 14.9%, none 14.8%, other Christian 9.8%, Taoist 8.5%, Catholic 4.8%, Hindu 4%, other 0.7%
81.71 years
Singapore dollar (SGD)
US$240 billion (2008 est.)
US$52,000 (2008 est.)
Why Singapore
Singapore has traded in its rough-and-ready opium dens and pearl luggers for towers of
concrete and glass, and its steamy rickshaw image for hi-tech wizardry. But you can still
recapture the colonial era with a Singapore Sling under the languorous ceiling fans at Raffles
Hotel. At first glance, Singapore appears shockingly modern and anonymous. However,
Singapore is an undeniably Asian city with Chinese, Malay and Indian traditions from feng
shui to ancestor worship creating part of the everyday landscape. It’s these contrasts that
bring the city to life.
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Offshore Financial Center
Singapore is one of the rising offshore financial havens of the world.
Singapore is actively recruiting wealthy business persons as residents. For those active in
offshore finance, this is a match made in financial heaven. The island city-state is seeking to
establish itself as Asia’s newest private banking hub by luring the super-wealthy away from
places such as Hong Kong and Switzerland.
Entrepreneurs
Singapore offers a foreign investors’ citizenship program called the “Scheme for Entrepreneurs.”
Foreign nationals with investment residence status are eligible to apply for naturalization after
two years. There is no requirement that the entire time be spent in Singapore, but you must
maintain a home there.
Those with desired skills or in certain professions do not need to make an investment to gain
permanent resident status. After five years as a resident, you can apply for citizenship. Children
born in Singapore are automatically citizens.
Number 3: Canada
Government: Capital: National Day:
Population: Total Area:
Languages: Ethnic groups: Religion: Life Expectancy: Currency: GDP:
GDP per capita: Confederation with parliamentary democracy
Ottawa
Independence Day: 1 July (1867 from the U.K.)
33,487,208 (July 2009 est.)
3,855,103 sq. miles / 9,984,670 sq. kilometers
English 59.3% (official), French 23.2% (official), other 17.5%
British Isles origin 28%; mixed 26%; French origin 23%;
other European 15%; other Asian, African, Arab 6%; Amerindian 2%
Roman Catholic 46%, Protestant 36%, other 18%
80.22 years
Canadian dollar (CAD)
US$1.307 trillion (2008 est.)
US$39,300
Passport highlights: Canada welcomes immigrants with the financial means to invest in
approved instruments or projects valued at a minimum of C$400,000 (US$373,700), along
with those moving there to start their own business or participate in a going concern.
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Why Canada
Canada is the premier nation in the world for exercising perhaps the most effective
wealth protection strategy — expatriation. However, for a U.S. citizen (and many others),
expatriation means renouncing citizenship and becoming a foreign national — becoming a
Canadian.
Why Expatriate
Is expatriation radical? You bet.
But wealthy Americans stand to lose millions of dollars to the IRS. Consider this…at death, the
U.S. government could take up to 55% of the assets you leave to your children and heirs — and
that’s after having paid up to more than 40% of your earnings in federal and state income taxes
every year. For those with estates worth millions, the prospect of having their money enrich the
bloated coffers of the IRS can be enough to suggest drastic, but legal, avoidance measures.
Every day, thousands choose Canada as an excellent place to visit, do business, even live — and
with good reason. Leading economists at the United Nations in New York researched the best
countries in which to live and work. They judged Canada to be number one. A survey of quality
of life conducted by the U.S. human resources consulting firm Mercer found Vancouver, Calgary,
Toronto, Ottawa, and Montreal (in that order), among the top 30 cities in the world.
The virtues of Canada as the place to live are known around the world. Canada now has
the highest per capita immigration rate of any nation in the world, an influx that has caused
widespread public demand for limitations.
Number 4: Mexico
Government: Capital: National Day: Population: Total Area: Languages: Ethnic groups: Religion: Life Expectancy: Currency: GDP: GDP per capita:
Federal republic
Mexico (Federal District)
Independence Day: 16 September (1810 from Spain)
111,211,789 (July 2009 est.)
761,606 sq. miles / 1,972,550 sq. kilometers
Spanish, Mayan, Nahuatl, regional languages
Mestizo (Amerindian-Spanish) 60%, Amerindian 30%, white 9%, other 1%
Roman Catholic 89%, Protestant 6%, other 5%
75.41 years
Mexican peso (MXN)
US$1.559 trillion
US$14,200
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Passport highlights: In addition to generous programs allowing non-Mexican retirees and
persons to live on relatively modest fixed incomes and still establish residency, Mexico
grants special residency permits to investors placing at least 1.8 million pesos (US$137,435)
in approved investment vehicles.
Diverse possible lifestyles in Mexico has made the country a major magnet for expatriates and
retirees from developed countries across the entire Northern Hemisphere. You can live either
very inexpensively or, for those on less limited budgets, quite luxuriously there. Colonies of
expatriates have been established throughout the country, particularly in highland areas with
temperate climates.
Dual Nationality
Mexican law now recognizes dual nationality for Mexicans by birth, meaning those born in
Mexico or born abroad to Mexican parents. U.S. citizens who are also Mexican nationals are
considered Mexican by local authorities.
Mexican laws and practices regarding purchase and rental of real estate, including time-shares,
are markedly different from and far more complicated than those in the United States. U.S.
citizens should be cautious of the inherent risks involved. Also, you absolutely must obtain
authoritative information and guidance prior to any real estate investment. Foreigners may be
granted the right to own real property only under very specific conditions. In some areas, such as
along the coasts, foreign ownership is forbidden by law.
Travel to Mexico
Travelers to and from Mexico will be required to have a passport or other secure, accepted
documents such as U.S. citizenship documents (certified copy of a U.S. birth certificate,
naturalization certificate, consular report of birth abroad, or a certificate of citizenship) to enter
or re-enter the United States. A change from prior travel requirements, it means that all United
States citizens re-entering the U.S. from countries within the Western Hemisphere must now
possess U.S. valid passports.
Number 5: Belize
Government:
Capital:
National Day:
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Parliamentary democracy
Belmopan
Independence Day: 21 September (1981)
Population: Total Area:
Languages:
Ethnic groups:
Religion:
Life expectancy: Currency: GDP: GDP per capita: 307,899 (July 2009 est.)
8,867 sq. miles / 22,966 sq. kilometers
English (official), Spanish, Mayan, Garifuna (Carib), Creole
Mestizo 48.7%, Creole 24.9%, Maya 10.6%, other 9.7%, Garifuna 6.1%
Roman Catholic 49.6%, Protestant 27% (Pentecostal 7.4%, Methodist 3.5%, Jehovah’s Witnesses 1.5%), other 14%, none 9.4%
68.3 years
Belize dollar (BZD)
US$2.577 billion (2008 est.)
US$8,600 (2008 est.)
Why Belize
Belize is a very diverse little nation, and because it’s so small, you can escape from the heat
of the beach, up to the cooler highlands in no time. From its Caribbean shores to its jungle
interior, this country has great natural beauty. The country boasts blue water and deserted
beaches, inland retreats where jaguar and scarlet macaw still live in their natural habitat.
Belize’s interior also hides Mayan ruins, sparkling rivers, lavish rainforests, and cascading
waterfalls that you can explore — in short, it’s a bountiful Caribbean retreat.
Passport highlights: Although abuses brought an end to Belize’s economic citizenship
program, the country still offers significant tax incentives to retirees, who can become
permanent residents if they show a minimum of US$2,000 monthly income from sources
outside Belize.
Belize is the only English-speaking country in Central America. The country borders the
Caribbean Sea, between Guatemala and Mexico. Its mixed population includes descendants
of native Mayans, Chinese, East Indians, and Caucasians. It has the largest barrier reef in the
Western Hemisphere and great deep sea diving. Inland, visitors and residents enjoy ecotourism in
lush tropical rain forests and exploration of countless Mayan architectural sites and sacred caves,
with many yet to be discovered. To the east, there’s a sprinkle of Caribbean tropical islands
included within the nation’s borders. These nearby islands provide access to sport fishing in the
lagoons and open sea.
In 1992, the Belize National Assembly enacted up-to-date legislation, which they have continued
to modernize, seeking to make the country a competitive offshore financial center.
Qualified Retired Persons Program
In 1998, the Retired Persons Incentives Act was enacted with hopes of making Belize a
retirement haven for foreign citizens, while bringing foreign currency into the country.
It establishes a residency program for “qualified retired persons” (QRPs), offering them
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significant tax incentives to become permanent residents (but not citizens) of Belize. The
program is aimed primarily at residents of the United States, Canada and the United Kingdom,
but is open to all.
Number 6: Panama
Government:
Capital:
National Day:
Population:
Total Area:
Languages:
Ethnic groups:
Religion:
Life expectancy:
Currencies:
GDP: GDP per capita:
Constitutional democracy
Panama City
Independence Day: 3 November (1903)
3,360,474 (July 2009 est.)
30,193 sq. miles / 78,200 sq. kilometers
Spanish (official), English 14%; many Panamanians are bilingual
Mestizo 70%, Amerindian and mixed (West Indian) 14%, white 10%, Amerindian 6%
Roman Catholic 85%, Protestant 15%
75.22 years
U.S. dollar (USD); balboa (PAB)
US$38.49 billion (2008 est.)
US$11,600 (2008 est.)
Why Panama
We recommend Panama as one of the best tax havens, asset protection havens and residential
havens in the world. Only hours by air from the United States, Panama offers a variety
of lifestyles and geographic areas with a century-long history of working closely with
Americans. Panama’s real estate boom has cooled, but the multi-billion dollar expansion of
the Panama Canal can only increase economic growth. In many ways, Panama has it all.
Major World Center
When you think of Panama, you think of one of the great technical wonders of the world, the
Panama Canal. Panama holds a strategic position in the world as the land bridge connecting
North and South America. That includes the location of the Panama Canal linking the Atlantic
Ocean via the Caribbean Sea with the Pacific Ocean.
Panama, after Miami, is Latin America’s second largest international banking and business
center. The country enjoys unique ties to Asia, Europe and a special relationship with the United
States that continues.
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A first-time American visitor to Panama City will marvel at the modern skyscrapers, firstclass hotels and restaurants, excellent Internet and other communications, and the thoroughly
American ambiance. Downtown Panama City, the balmy, tropical capital on the southern, Pacific
end of the Canal, suggests Los Angeles or Miami, except arguably more locals speak English
here than in some parts of south Florida.
Residence & Citizenship
There are many varied programs in Panama for foreigners who wish to make it their home. The
Republic of Panama deliberately has positioned itself as a first-class retirement haven, with some
of the most appealing programs of special benefits for foreign residents and retirees anywhere in
the world. Panama also offers a variety of visas for investors, persons of high net worth, wealthy
retirees, small business and agricultural business investors and entrepreneurs, and those who
simply want to immigrate and become Panamanian citizens.
A Final Look at Foreign Citizenship
To conclude, there are countless nations in the world where you may discover your next
residence or even your new identity with a second citizenship. But whatever destination you
choose, please remember that you taking these steps to ensure your family’s future. You are
taking these leaps to avoid the deteriorating economic state in your home country and secure the
freedoms that you have had to rescind in the United States.
For more on how to do just that, you can get a full summary of all nations around the world in
my newly updated Passport Book, now in its 7th edition. Click here to order your copy now.
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