“A trust is the ultimate asset protection vehicle”
Lief Simon is the boss over at Offshore Living Letter, which produces publications and offers services to help people internationalize oneself and their financial interests. He has lived in several foreign countries himself and put his good word to practice in internationalizing his life and assets. There are various reasons individuals should consider planting flags overseas and Lief sits down with us to discuss why it is important.
We go into detail on each flag with actionable steps individuals can take to get started on each. Banking, Residency, Citizenship, Asset Protection, and Business Incorporation round out the 5 flags. While internationalizing oneself is not immediately on the minds of everyone, it’s important to understand what situations may arise now or in the future that may provide personal and financial benefits to you. Listen to this full episode for an introductory to Flag Theory with Lief Simon.
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ILAB 46 Show Notes
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Where are we:
Panama – Lief Simon
San Diego, CA – Sam
Bali, Indonesia – Johnny FD
02:19 – Traveling the world
03:14- Offshore living letter
04:45 – Flag theory overview
06:00 – Internet security
07:00 – Bitcoin FBI investigation
07:45 – Offshore banking
15:52 – Foreign residency
18:10 – Best countries for a second residency
22:00 – Tax treaties
26:30 – Citizenship benefits
37:20 – Protecting your assets
41:00 – US based asset held in offshore trust
44:00 – Overseas business incorporation
51:40 – Global conferences
57:34 – Spending money in SE Asia
59:15 – renouncing US citizenship
1:00:49 – Tax exclusion
1:02:29 – Thai elite residency
1:08:56 – Foreign country possibilities
1:14:40 – Opening a company in Belize
1:16:45 – Spending money with no tax
1:19:00 – Protecting our assets
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