A five point plan for those with courage enough to pursue freedom.
Governments are viewed as providers of facilities and services, if they offer good accomodation and make you feel comfortable and prosperous, you stay. If your government becomes too demanding or too nosy, or if a competitor offers a better deal, you can move on. Economic opportunities, financial privacy, taxes, extradition treaties, social values, military obligations, quality of passport, stability of government, medical standards, respect for property rights, personal safety and freedom of travel, thought and action are all taken into consideration when choosing legal residence and citizenship.
People of intelligence and wealth owe it to themselves and their descendants to have more than one flag. Why? No country or governement has ever survived more than a few generations without annihilating itself or its own middle and upper classes.
The Perpetual Traveller's relationship with government is a matter of choice, an option. The passport you hold and the country where you live should not be a burden that you were born to and must be saddled with forever.
Individuals can remove themselves from the control and jurisdiction of any government by acquiring dual citizenship, investing internationally and becoming human multinationals. In order to accomplish this redistribution, you merely have to arrange your assets according to the following simple outline. Your five flags:
Flag 1: Passport and Citizenship. These should be from a country unconcerned about its offshore citizens and what they do outside its borders. There must also be no tax or military requirement for non-residents. Passports must be available to foreigners. Dual or multiple nationality is one of the cornerstones of the PT philosophy.
Flag 2: Business Base. These are the places where you make your money. They must be different from the place where you legally reside, meaning your personal fiscal domicile.
Flag 3: Residence and Domicile. These should generally be in a tax haven with good communication systems. A place whee productive people can be creative, live, relax, prosper and enjoy themselves, preferably with bank secrecy and no threat of war or revolution.
Flag 4: Asset Management. This should be a place from which assets, securities and businesses can be managed by proxy. Requirements are the availability of highly competent financial managers, confidential banking and the lack of taxation of non-residents or non-citizens.
Flag 5: Playgrounds. These are the places where you actually physically spend your time. Quality of life is top priority. Normally, because of legal restrictions on how long one may stay without being considered resident for tax purposes, it is necessary to have from two to four playgrounds. For the most part a PT should avoid spending more than 90 days in any particular country.
Consider the following possible scenarios:
Flag 1: A second passport from Canada, Brazil, Italy or Australia.
Flag 2: A business or source of income in New york, London or Singapore.
Flag 3: A legal or fiscal address is Monaco, Panama or Andorra.
Flag 4: Bank accounts or assets registered in Austria or Luxembourg.
Flag 5: Friends and fun in Paris, Bangkok, Manila, Buenos Aires, Sydney, Cape Town and San Francisco.
Every Perpetual Traveller should know and understand that governments only have power, i.e., jurisdiction, over it's citizens within their home territory or colonies. For this reason the Perpetual Traveller should generally stay out of the country on whose passport he travels. His major assets should be invisible and far away from the country in which he actually lives. His lifestyle should be as humble as possible.
For those intersted in the PT lifestyle W.G Hill's book PT - The Perpetual Tourist can be bought in electronic format for just $23.50 here.