I’m the first to admit: “going offshore” can involve complicated stuff.
How to get residency (or citizenship) in another country… offshore banking… knowing the right corporate structures to protect your interests…
There are a lot of ways to get “offshore diversification” wrong—and that can cost you precious time and money.
Here’s what I mean…
At one Live And Invest Overseas conference, an attendee proudly commented that he had already taken several key steps toward internationalizing his life.
He had a bank account in Panama… had made real estate investments in Panama… had actually moved to Panama… and was on his way to a Panamanian passport.
On one hand, great.
On the other… not so fast. While this guy has indeed moved his wealth and life outside North America… He hasn’t diversified his life or his finances. He’s simply moved them both from his home country to Panama.
Now, instead of being completely at the mercy of the goings-on in the United States—from its economy and currency to its political situation—he’s in the same vulnerable position in Panama.
Another example…
Years ago, a real estate investor came up to me at a conference to boast that he had diversified his real estate portfolio overseas.
He told me that he had sold all of his U.S. real estate, which had been a sizable portfolio, and bought a bunch of properties in Nicaragua.
This guy hadn’t diversified either. Again, he’d simply moved all of his real estate risk from one country to another. Now he was completely exposed to whatever might come to pass in Nicaragua that could affect his wealth.
Here’s an even more basic example…
I’m reminded of a woman who approached me at a conference to tell me that, five years prior, she had made a trip to Panama and set up a corporation through a local attorney.
“Why did you do that?” I asked her.
The sweet, smiling, older lady looked up at me confused. It was as though she’d never considered the question before that moment.
And, indeed, she had not.
She’d opened the Panama company, she finally admitted, because a friend had insisted she needed one. Everyone should have an offshore corporation, right?
No!
Five years later, the nice lady who came to me for advice at the conference hadn’t done anything with her corporation and wondered how much longer she should continue paying the annual fees to keep it alive.
A Panamanian corporation might make sense for me. It might make sense for you. But did it make sense for this lady? I asked a few questions and concluded that, no, it did not.
I told her to stop paying the associated fees and let the company die. The money she’d already invested in setting up and maintaining the structure was lost.
The important lesson here is: You need a diversification plan that makes sense for you.
If you are new to the offshore world and need to figure out your first steps, then I urge you to attend the Offshore Wealth Summit before you apply for my Executive Program.
But if you already have some idea of what you’d like to accomplish offshore, and you need a personal plan to get started…
If you want to work with me—and my team—personally, one-on-one, to create an individualized, tailor-made plan for your life situation…
I’m making myself available on Saturday, Sept. 23 and Sunday, Sept. 24, for exactly this purpose.
Join me over those two days for Lief Simon’s Executive Program, and you’ll have face-to-face, one-on-one time with me, and a select number of experts, to personally discuss your plans.
You’ll get everything you need to get started right away—a step-by-step blueprint for your own circumstances and situation.
You’ll also enjoy a number of extra perks and “executive level” opportunities.
More on that in a moment…
But first, I want to talk about what exactly you can expect from the weekend, and why exactly I’m doing this.
