I just returned from the Global Financial Summit in the Bahamas, where over 200 attendees came from all over the world to learn about new investment opportunities and market solutions to the world’s problems. We were welcomed by the cabinet members of the Bahamian government, who emphasized how the Bahamas is a first-rate financial center and investment paradise. It has no tax on income or investments (but does impose a high 42% import duty). I visited Albany, a new development for the superrich such as Tiger Woods. I am not surprised they are moving there in droves, given the huge tax increases imposed in 2013.
My family and I lived in the Bahamas in the mid-1980s and I saved enough in taxes to buy a flat in London (without giving up my citizenship). My story can be found here.
Here’s a short summary (expect more detail in the March Forecasts & Strategies newsletter): [Read more…]