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Quote of the Week

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“Showing a profit means touching something and leaving it better than you found it.”

—Jim Rohn

 

“We cannot seek or attain health, wealth, learning, justice or kindness in general. Action is always specific, concrete, individualized, unique.”

— Benjamin Jewett

6th Offshore Investment Conference – Panama, March 8 – 9, 2017

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Thursday, March 9th, day two brings us commentary from primarily practitioners in Panama and one from the U.S.A. that travels extensively throughout the Middle East and SE Asia for client’s needs.  Again, the focus was mainly on how the new reporting requirements being drafted in the multitude of jurisdictions globally will affect the working environment of the wealth management industry specifically and the cost of doing business in general.  The security of the client’s identity and other pertinent information is paramount in a world that has become a quagmire of risk to one’s ability to conduct business and even personal safety of self and family.  Just how many data bases will store the same information and what level of security is provided by the keepers of this treasure trove of information.  Rounding out the day were presentations on what do the regulating bodies of the banking centers need to do to recover from the perceived deficiencies in their regulations, figuring out exactly what does “being compliant” really mean, what one would have to consider when working with an Asian client, residency programs in Panama, Family Office Services, and the Trustee’s role in Panama and new drafts to enhance the Laws covering Trusts and Trustees operating in Panama.  BIG KUDO’s to OpenDoorMedia Publishing for setting the standard for conference organizing and presentation and to Verity, Caroline, Nina, Christopher, and Richard.  Hope to see you all next year.  Be Well.

6th Offshore Investment Conference – Panama, March 8 – 9, 2017

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Wednesday, March 8th, first day of the conference was exciting as attendees from many jurisdictions across the globe from Dubai, UAE to Panama, ROP, from the U.S.A. and all around the Caribbean came together at the Hilton Hotel here on Avenida Balboa in beautiful Panama City, Panama.  Discussions ranged from concerns about tax consequences involving cross boarder transactions to legal  structures to facilitate succession planning for family members in different countries.  Also how FATCA and CRS requirements are stifling the banking and investment culture for U.S. private investment in the region.  Now, day two begins and I have more to come.  Be Well.

Just in case you didn’t know

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Panama is the only country in Latin America that has not experienced a financial collapse or a currency crisis since its independence.  How is your country doing?  It is a viable choice for relocation: U.S.$ based economy,  average 7%+ growth in GDP over the last ten years.  Infrastructure investments in transportation, energy production, public safety, have produced a shortage in qualified skilled trades and professional services.  For a short summary of what people are interested in, check out my friend Tom Bymer’s web site “The Panama Perspective”, great guy and knows his way around here and who to talk to.

Another burp on the current world conditions.

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First Greece then Brazil, now Brexit and Trump.  What next, Italy’s banks going under?  No matter, the Big Money is gearing up for a buying spree like you’ve never seen before.  Big BUT here, will the demographics going forward be able to make it worthwhile?  Except for India, just about every developed country’s population by age group is an inverted pyramid.  Meaning that there will be less bodies to contribute to the support of the elders’ benefit programs.  The tax revenue won’t cover the entitlements promised by the previous politicos.  Increasing revenue and cutting benefits looks to be the norm going forward.

So, if you have any wealth to protect, may I suggest looking into international options for your needs.

You may e-mail your inquiry to worldwidetrustee@gmail.com for special consideration, thank you.

Quote of the Week

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“I wish for you a life in which you give to yourself the gift of patience, the virtue of reason, the value of knowledge, and the influence of faith in your own ability to dream about and to achieve worthy rewards.”

—Jim Rohn

Is This On Your Radar?

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Panama is the only country in Latin America that has not experienced a financial collapse or a currency crisis since its independence.

Quote of the Week

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“Economic disaster begins with a philosophy of doing less and wanting more.”            —Jim Rohn

“What you become directly influences what you get.”                                                          —Jim Rohn

Quote of the Week

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I have to share the following with you, my readers, as it gets to the core of what is essentially a way of life for an entrepreneur in a Capitalist society.  It seems the term “there is no free lunch” is lost on those counting on a government that is spiraling into the abyss of debt to figuratively “wipe their a–” until they hit the Lotto.  The “War on Poverty” ended up being the “War on the Taxpayer ” and still continues to this day.

MAC

 

I heard this saying in a movie: wish in one hand, spit in the other, see which one fills up first.                                                                              If Wall Street has taught me anything, it has taught me how to hustle. Get out there.             Make stuff happen.

Nobody who learns this lesson will ever go hungry.

Jared Dillian
Editor, The 10th Man, Mauldin Economics

 

“Economic disaster begins with a philosophy of doing less and wanting more.”                                 —Jim Rohn

Quote of the Week

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“Few things in the world are more powerful than a positive push—a smile;

a word of optimism and hope; a ‘you can do it!’ when things are tough.”          — Richard M. DeVos

 

“Indecision is the thief of opportunity.”                                                                   —Jim Rohn

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