The Tax Advantaged Investor: A Guide to Legal Tax Reduction! – Discover ways to pay lower taxes by relocating your service business to a warm tropical beach!
So begins my friend Bill Bonner’s famous promotion that launched his excellent publication International Living.
The reality is that a tropical American dream at 1st world standards is not widely for sale at a two for one discount.
I’ve known oil-rich-bass-fishin’ Texans driven from vacation homes in the mountains of Mexico by machine gun toting “Federali” expropriators. How would you feel if you had bought a pristine beach vacation home pre-Chavez in Venezuela?
Political risk in strange countries is not your only dilemma.
Uruguay’s Punta del Este is one of my favorite places in the world. Make sure you pack an extra suitcase of C-notes if you wish to own there.
The country has no mortgage market.
I love carnival in Rio. How about you?
Brazil imposes complicated restrictions on foreign capital that generally obviates real estate ownership. Most of Europe is no cake walk either.
The list of countries with bumps in their political or financial landscape goes on and on.
Under the searing microscope of independent reason most post-card-coastlines are rejected. In the end analysis these barbed-wire framed masterpieces of nature are nowhere you would really want to live.
A commonly overlooked tropical exception is Puerto Rico.