46: Flags Theory, the 5 Flags of Diversification with Lief Simon

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 which 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 taking active steps. Listen to this full episode for an introductory to Flag Theory with Lief Simon.   Links: Live and Invest Overseas @LiveandInvest Offshore Living Letter @OffshoreLetter >Sign Up for their free newsletter Where are we: Panama - Lief Simon San Diego, CA - Sam Bali, Indonesia - Johnny FD Discussed: Simon Black – Finding Outsized Returns Off the Beaten Path - ILAB 19 Building the Crash Proof Retirement System with Phil Cannella - ILAB 44  Stan’s Brutally Honest Factual Expertise About Annuities - ILAB 04 Books: Start Here – Recommended reading   Time Stamps: 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   If you enjoyed this episode, do us a favor and share it! Also if you haven’t’ already, please take a minute to leave us a 5-star review on iTunes and claim your bonus here!   Copyright 2017. All rights reserved. Read our disclaimer here.