PT "Perpetual Traveler”

[jamesintheworld]

Is anyone here a follow the PT (“Perpetual Traveler”, Prior Taxpayer” and “Permanent Tourist”) expat way of handling your business and personal affairs?

[ROB]

I have met a few of these types of people.

In fact if you read “expat” newletter, there are tons of ads for accountants and stuff that can organise this for you.

[jamesintheworld]

I would think with all the mavericks and travelers here that there would be some people living and working overseas that are interested in getting together and networking, sharing information about living, investing, working internationally, money, general overseas traveling and stuff like that, in fact I am sure that many people here already live a PT like lifestyle they just don know it.

For anyone here that dose not know what the is PT this is a “abridged” version ot the PT theory:

The philosophy behind the PT ideals is to become a Perpetual
Tourist, Parked Temporarily and a Prior Taxpayer who is now a
Possibility Thinker and Prepared Thoroughly for the future.

The PT theory is a little outdated now but the basic philosophy
behind it is a great base to follow for anyone who currently lives or
wants to live overseas as an expat. Things like avoiding taxes,
starting a business overseas or investing internationally, having an
extra passport for tax or employment reasons, basing your business
in a tax free country, setting up yourself in a friendly country, not
keeping your money tied up in one place, finding countries where
your favorite entertainment activities are legal or not looked down
on and making a new life for yourself overseas, the life most people
only dream about are as still as valid today as when the PT theory
first started. The basic guidelines to live as a PT are to
compartmentalize your life under these FIVE FLAGS:

1) Passport and Citizenship: Any country unconcerned about
activities of its offshore citizens or eases your movement around
the world.

2) Business Base: Places where you actually make your money.
Again, different from your personal fiscal domicile. This would be a
country where you can incorporate a company by phone or internet,
that has little or no reporting requirements and dose not tax the
company’s income.

3) Domicile: A tax haven with good communication where wealthy,
productive can be creative and enjoy prosperity with bank secrecy
and little threat of social unrest. Also a country that is relatively
inexpensive, easy to get a visa for extended stays, is fun and
exciting and is near or in one of your favorite Playgrounds.

4) Asset Haven: A place from which assets, securities, and business
affairs can be managed anonymously, by proxy. Basically where you
keep your cash and how to manage and access it remotely.

5) Playgrounds: Places where you actually spend your time, enjoying
life to the fullest without any western morals forced upon you. Sex
tourism, gambling, legal smoke, machine guns and rocket launchers
and bungee jumping are just a days activities before lunch in these
cities.

And these subjects;

LIVENING OVERSEAS: How and where to live overseas, where can
you buy and rent property, how to find or rent a car, where to shop,
eat and drink, what to bring with you, how to get around, what
regulations do you have to follow and what is it like living
internationally or in a certain country. International Investment and

BUSINESS: What opportunities are out there for a savvy expat
business person, what are the licensing requirements, how to set
up a bank account, witch countries are the best for your skills or
products, witch countries have low or no taxes and what to invest in
or what kind of business to start and witch ones to avoid.

WORK: How to get a job overseas, can you find work when you get
there, avoiding overseas job scams, where to look for international
jobs, what is an expat package and how to manage your affairs in
your home country from abroad. Your

HEALTH: How to take care of your health overseas, international
medical coverage, what are the health care standards in the country
you are moving to, what are the costs of medical care, do you need
prescriptions or can you buy everything over the counter and what
to do in an emergency.

SAFETY: How safe is the country/city, what are common scams to
look out for, how bad is the police corruption, how to prevent being
the victim of a crime, are the roads dangerous, how safe is the local
airline and how to protect yourself.

SOCIAL LIFE: Where do the other Expats and PT’s live in your
country/city of choice, where to go for golf, fishing, diving, ECT.,
where are the best places to drink and eat and what to do if you
marry a foreigner, what procedures do you have to follow, how to
get a marriage license and other documents before you marry.

TECHNOLOGY: what are the best gadgets for a PT/EXPAT, how to
make a phone call, send a fax or connect to the internet from
anywhere in the world, which PDA, cell/mobile phone works
anywhere, witch electronic items will get you arrested if you try to
enter a country, what electrical adapters will you need and what
electronics will not work in some countries

I follow a newer version of the PT lifestyle where I take advantage of the tax laws (like incorporations) and solid business laws in first world countries to make my overseas secure and comfortable. Like buying real estate in the US and renting it out, therefore taking advantage of the ease of getting a home loan, having someone else pay down the mortgage, taking huge tax deductions by incorporating a company to “hold” the real estate, making some cash every month and then being able to take cash out of the equity and investing it overseas away from the taxman. Still a PT, but going against the old theory of not owning or having paperwork in high tax, “big brother” countries.

[Jefe]

They were pretty good and well researchd although some of it was very dangerous information.

For example, those authors recommended a CPA in Panama named MARK HARRIS. Run a keyword search on him and read up well before you place too much faith in those books. He is PNG in a couple countries and in Federal prison for running scams and draining peoples savings in a number of countries.

Also, just get a reputable CPA who knows expat tax law. There are plenty and you don’t want to do anything illegal.

Also, while I appreciate your posts, you might consider possible plagerism ramifications of calling that stuff your own on your website when it is from long term written books that took alot of legal research etc.

However, its good stuff if you are careful and don’t get in over your head.

Good luck James and good post.

[jamesintheworld]

That is why most of the original PT stuff is way outdated, the new PT pays attention to the original theory but uses a more modern approach and uses the advantages of there citizenship(incorporations, visa free travel, ect.) Instead of changing his citizenship.

As for Mark Harris he was always a bit of a pirate, his books are still interesting.

I don’t think that I called the stuff in http://www.fiveflagsforum.com mine, I am pretty sure I just use as if I am referring to the PT theory not that I invented it. Anyone that follows PT stuff knows that Dr.WG Hill wrote that stuff.

[Author]

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