For American’s Panama Real Estate Is A More Appealing Strategy Than Ever
Putting your money into foreign real estate is becoming a more appealing strategy all the time. Real estate has always made sense as an asset allocation strategy, but today more than ever before foreign property should be part of every investment portfolio, especially for Americans.
You can’t watch everything going on in the United States right now and not be persuaded that holding real assets in the form of real estate outside that country is a good idea.
Thanks to the new U.S. HIRE Act, currency controls in the United States have been seriously tightened. aside – Don’t you love how they create names for these acts which have nothing to do with their inent? When this legislation takes full effect (by Jan. 1, 2014), foreign financial institutions will be required to report on the investment activities of U.S. citizens.
It’s been increasingly difficult for some time for an American to open an international, that is, a private or investment, bank account abroad, and Switzerland recently has taken the position that it doesn’t want to do business with Americans, period. Not worth the hassle.
Options for Americans to protect their assets abroad are going to continue to disappear. If you’re not already holding a sizeable portion of your assets outside your home country, I strongly recommend that you make this a priority agenda.
A portfolio of international real estate holdings should be an important part of your strategy. First, if you’re an American, it is one of two assets you can hold offshore without triggering a reporting requirement to Uncle Sam (the other is gold and other precious metals). The real estate you hold in another country is your own business.
Plus, it’s unseizable. The IRS might be able to take your foreign bank accounts (the new legislation makes this easier than ever). But how are they going to take your condo or land in Panama? They can’t – the title is yours and even if you’re a foreigner your ownership rights are protected by Panamanian law.
When choosing to move away from the United States the vast majority of ex-pats make the conscious decision to remain fully compliant from a U.S. reporting and tax point of view. It’s wise. You don’t want to do anything you shouldn’t do and certainly nothing outside the law.
And that’s not what I’m suggesting to you. It’s just common sense. What I am suggesting is that it just makes sense to do everything you can to protect the money you’ve earned and the assets you’ve accumulated. And holding some of your wealth in international real estate is an excellent way to do that.
You don’t have to be super rich to take up the idea of buying real estate overseas to protect your wealth. Opportunities to buy land, houses, and apartments, for both investment and personal use, exist at all price levels.
In the current climate focusing on income producing property (i.e. rentals) or productive land (i.e. farming/agricultural) is another common sense strategy. After all having your potential retirement property generating income and thus paying for all or part of itself is just a smart thing to do!
Lief Simon, in his Marketwatch newsletter writes regularly about details of specific current real estate investment opportunities in Panama and elsewhere. Recently, he shared particularly appealing opportunities in both of those categories which can be found not only in Panama but also in Belize, Brazil, Medellin, and Roatan, Honduras.
And it’s important to mention that these opportunities and these markets, as well as and others, will be discussed at the Offshore Summit taking place in Panama City next month (Aug. 6-8). Key contacts representing property investment opportunities around the globe will be there for the three days of this event so that, if you’re interested (as I believe you should be) in developing a diversified global property investment portfolio, you can vet interesting current deals in person.
Discover One Of The World’s Top Retirement, Entrepreneur, And Tax Havens
Panama also hides the smartest beach, river, and mountain property buys anywhere on the planet today.
Come…see for yourself how to stretch your retirement dollars…how to pay zero tax…and where to invest for serious upside in this little country that is enjoying continued growth and prosperity, worldwide financial meltdown notwithstanding.
If you’re wondering how you’re ever going to be able to afford to retire…or where in the world you can invest smart amidst the current global market chaos…Panama is the answer.