Here is an excerpt from the emailed international business section of our Tangled Web How to Have an Internet Business course.
A dying sun-majestic orange drops slowly, in its ancient rite, beneath the sea. The road darkens and an inky dusk shades this winding ribbon as it leads higher and higher, rising from the gloom of lush jungle into a chilled desert air.
Lome, Togo, in the dying heat of the day, on the rugged National Highway. Leading inland from the jungles of this African port, the road struggles a thousand miles upwards over five mountain chains through Togo and into the landlocked nations of Mali and Niger. Truck after truck struggles along the path, rusting, dented hulks, worn and well past their prime, but still hauling, overloaded, pushed by wearied, blurry eyed drivers. This mainstream of transportation is pushed past its limits, the trucks caked in dirt, running on cheap gas and worn out tires. They groan and grind slowly out of the jungle, up 500 miles of mountain into Dapong, Togo, half way through their journey.
There is a lesson in this African scene that explains how to gain opportunity plus increase asset protection and privacy… and in some cases can reduce tax, all at the same time.
There is adventure and beauty to gain in a global life as well… from Africa to Ecuador. This is our daughter, Francesca, hiking in the Drakensberg Mountains of South Africa and Lesotho.
Such beauty. The key is to enjoy all this beauty globally and…
like Fran and Sam above… also gain opportunity and…
live life to its fullest. Plus she is doing good working for the UN in Africa to help the less fortunate.
Here I am, hiking with…
our hound Ma and friends in…
the Andes near Cotacachi. Beauty is everywhere. We enjoy it. We profit from our international adventures plus our foundation has been able to donate hundreds of thousands of dollars to help the indigenous people of Ecuador.
For an example of how international business structures can help you profit and help others we return to Lome in Africa. The National Highway through Togo is the only link to the landlocked countries of Niger and Mali. The road is rough and trucks have worn out their tires by the time they reach the city of Dapong, half way up the road. A couple developed this perfect structure because they learned that used tires would sell briskly in Dapong.
However, when they checked out shipping used tires from the U.S., they found freight costs too high. Then they realized there was also a good market in Togo for used shoes as well. They knew that Americans hardly ever wear out their shoes. They then had a brilliant idea to stuff the used tires full of used shoes! Thus, they were able to ship the used shoes inside the used tires and establish a thriving, successful business.
There is more to this story than meets the eye. First this true tale shows how many ways there are to make money abroad. Who would have thought of selling used tires and shoes from America in Africa? But second and more important this story shows that everyone can have his own international business. The story shows that anyone from any walk of life can get into a real international business. This man and his wife were not business people. They were missionaries. They started the business to raise money for their mission.
Circle of 100
This brings us to the Circle of 100. In short If you have a non U.S. business that does not do business in the U.S. that is not controlled (50% shareholders are not U.S. citizens or residents) by U.S. shareholders, that company not only has no U.S. tax liability, but does not even have a U.S. tax filing requirement. (Non U.S. citizens and residents should check their tax laws.)
So the key is to have an overseas business that is 50% owned by non U.S. residents. Yet some people don’t want a business partner. (Keep in mind if you don’t have a partner you get the IRS as your partner by default.) In this case, I recommend donating half the company to non U.S. charities. The more the better. Donate half a percent to 100 charities around the world spread around the world!
Age or circumstances don’t matter either. In fact if you are active in a business you love you will probably live longer. For example this delegate in Africa who started the business was in his 80’s and they have now set up a twenty-year business plan!
The time for having your own business has become easier and easier. Rapid improvements in technology have made right now perfect for small businesses. Low cost telephone communication, travel and transportation make global business easy. For example Merri and I now have over 20,000 readers all over the world, but still operate from our home in one of the most remote parts of North Carolina and Ecuador as well as Florida.
So if you are looking for the perfect tax shelter, one that will last and is not likely to be clobbered by Congress the minute it works well, look at doing a real international business. You can enhance your tax savings, gain enormous privacy and asset protection and improve the wealth and fulfillment in your life.
This is the simple explanation but the structure is somewhat more complex. If this is of interest to you can learn more about our $299 emailed “Tangled Web How to Have an Internet Business course“.
Gary
Save $299. Feb. 11-14 International Investing & Internet Business seminar and I’ll email the Tangled Web course free. Learn how to gain opportunity and greater freedom.
Join us this winter in Florida or Ecuador.
Jan. 8-11 Ecuador Export Tour
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Jan. 15-18 Coastal Real Estate Tour
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Join us in February or March.
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Feb. 21-22 Imbabura Real Estate Tour
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Mar. 11-14 Super Thinking + Spanish Course, Mt. Dora, Fl.
Mar. 15-16 Travel to Quito and Andes
Mar. 17-18 Imbabura Real Estate Tour
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