Nomad Capitalist: How to Reclaim Your Freedom with Offshore Bank Accounts, Dual Citizenship, Foreign Companies, and Overseas Investments
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Planting Flags   Now that we know what we are trying to accomplish, let’s get specific. When we open a foreign bank account or take some other action that diversifies our assets, business, or lifestyle to a more favorable place, that is called “planting a flag”. Back in the 1960s, a man named Harry Schultz created the concept of the “Three Flag Theory,” which suggested that those seeking sovereign freedom do three things:   Have citizenship somewhere that does not tax income earned outside the country. This was the personal safe haven.   Have businesses and investments in stable, low- or ...more