Tax & Financial Consulting Services
by Eric Roseman
Grow Your Wealth in the World's Freest Economy
Long ago and far away, there was a place where capital gains escaped the greedy arms of government. Sounds like a fairytale, doesn't it?
Well, you'll be pleased to know that this land of plenty is located in the here and now of 2006. The Wall Street Journal, Cato Institute and Heritage Foundation have rated it the world's freest economy.
Tax-free capital gains!
Corporate tax rate of 17.5%
Personal income tax rate of just 15.5%
One of the world's shortest tax returns -- just two pages
It is rated the freest economy in the world by The Wall Street Journal, The Cato Institute, The Heritage Foundation, and The Fraser Institute.
It's a former British Colony with a 157-year history of the rule of law, minimal regulation, some of the lowest tax rates and the highest per-capita incomes in the world.
But it's not just the locals who prosper in this capitalists' paradise.
This tiny island is also home to offshore bank accounts, trusts, international businesses and the investment portfolios of some of the world's wealthiest families.
And it can help you to diversify your assets for safety, privacy and a very high return on your investment capital.
I'm referring to...
Hong Kong: the Jewel of the Orient.
Hong Kong is known as "the financial hub of Asia." Yet it also offers extraordinary asset protection, lifestyle and investment opportunities to investors from around the world.
In Hong Kong, you can reduce your tax burden, safeguard your financial privacy, shield your wealth from attack...all while enjoying the very highest level of financial services and accessing investment opportunities in the world's fastest growing region.
It's an extraordinary combination of benefits you will not find anywhere else...
The top corporate tax rate is just 17.5%. The top personal income tax rate is 15.5%.
The typical personal income tax return is just two pages. No stacks of booklets necessary to make sense of it all.
Capital gains are tax-free. Double your money on a stock, pocket the full 100%. Sell an investment property for a million-dollar profit, keep it all.
There is no tax on personal dividends or bank interest. There is no VAT or sales tax.
Setting up a business is simple. Foreign investments are not subject to special requirements. You can register a company in an afternoon, open a bank account the same day and have the business operating within a week.
Hong Kong has a free flow of money, goods and information. You can receive currency from abroad and remit currency without restriction.
There are no taxes on foreign-sourced income. Receive $5,000 or even $50,000 a month from your company in another jurisdiction...that money can go right into your Hong Kong bank account, and you won't have to pay a dime in Hong Kong taxes.
For businesses, tariffs are low. For individuals, you can import personal goods tax-free. Buy a Rolex in Switzerland, and you bring it to Hong Kong with no tax. Import your BMW from Germany; the state gets nothing. Furnish your Hong Kong flat with Country Pine direct from England...no problem, no tax.
English is an official language here and over 150,000 expats are estimated to take advantage of the offshore banking, business and investment opportunities here.
These are just some of the many benefits that stem from the fact that Hong Kong has been a global financial center for decades. And the fact that mainland China regained sovereignty hasn't dampened things a bit.
In fact, it has increased the opportunities...
The World's Freest Economy for the Last 12 Years
Is Also One of the World's Wealthiest and
Fastest Growing Economies
On July 1, 1997, Britain returned control of Hong Kong to China. At the time, China was already moving more towards a market economy and had become the fastest growing economy in the world.
Some worried China might interfere with the Hong Kong Economic Locomotive. But Beijing wasn't about to tamper with the Goose that Lays the Golden Egg...
The handover called for "one country with two systems." China controls military and foreign affairs but leaves the island to manage its own economic affairs. That is exactly what has happened...
The Cato Institute published its first global survey of free economies in 1994--three years before the handover. At that time, Hong Kong ranked #1. And what's happened since?
Hong Kong has continued to rank #1 every year since then! And it's not just the Cato Institute...
Canada's Fraser Institute also ranks Hong Kong the freest economy in the world.
The Heritage Foundation and The Wall Street Journal also rate Hong Kong #1, besting 166 countries and jurisdictions. And it has occupied the #1 spot more than any place on earth since the index was first published in 1997, the year of the handover!
In short, Hong Kong is the closest thing to a true laissez faire economy you'll find anywhere on earth. And this economic freedom--combined with a long history of the rule of law--has created immense wealth for this tiny island.
Eight Reasons This Economic and
Financial Powerhouse Is One of the World's
Safest Financial Havens
Consider this. Hong Kong has just 7.2 million people. And yet...
1. In total cash and assets, it is the world's third wealthiest financial center, trailing only New York and London.
2. Thanks to the complete absence foreign exchange controls, Hong Kong is the world's 5th largest holder of foreign currency reserves ($115 billion).
3. Hong Kong people are among the world's wealthiest. Per-capita GDP here is greater than in Japan, Britain, Canada, France, Germany, and Australia.
4. The Hong Kong economy is among the fastest growing in the world, up 8.1% in the last year--about double the US growth rate.
5. The Hong Kong stock market is the 9th largest in the world, with 915 listed companies and a combined market cap of nearly $US 1 trillion.
6. Some 135 international banks operate here, including 62 of the world's 100 largest financial institutions.
7. More than 5,000 international corporations have established regional headquarters or offices in Hong Kong.
8. There are more private companies--nearly 500,000--registered in Hong Kong than anywhere else in the world.
Get smarter folks...start learning how to invest overseas. In future newsletters I'll be covering how the US economy is heading for a BOOM. Are you going to feel the aftershocks from within or looking at the cloud of dust from afar.
Remember, "the more you learn the more you earn, the less you know the more you owe"