Five Flags Unfurled: How "PT" Translates to Freedom in an Unfree World In order to be truly free, a sovereign individual, you must not be in the clutches of any one government.
[PT = abbr. with various meanings, including "Perpetual Traveler", "Permanent Tourist" and – arguably the best of all – "Previous Taxpayer" …]
Dr W.G. Hill, founding father of the PT concept, explained how this ideal can easily be achieved by spreading your interests over at least five unrelated countries. This is not expensive (indeed probably cheaper) than what you're currently doing. In your quest for freedom, this should be your ultimate goal.
Until you get there, keep working at it. Two or three flags are still better than one!
1st flag
CITIZENSHIP
You should hold one or more passports from small, neutral and respectable nations which do not try to influence or tax their citizens living outside their territory. These passports should ideally allow visa-free access to as many nations as possible. European Union or South American passports are best.
2nd flag
RESIDENCE HAVENS (DOMICILES)
This is your official residence. A country which regards you as a bona-fide resident, although you might not actually spend too much time there. It should be a country which does not tax income earned abroad, the effect being that you don't have to file any personal tax returns anywhere. Tax havens like Turks and Caicos, Panama and Andorra are good low-budget candidates, or Switzerland or Monaco if you can afford it. The UK and Ireland are also worth considering because of their tax treatment of foreigners.
3rd flag
PLAYGROUNDS
These are places where you physically choose to spend a lot of time. They depend on your personal taste. You might like major European city life, or prefer to get away on a ranch in New Zealand. You have no official status in your playgrounds. You are a tourist "passing through".
4th flag
BUSINESS BASES
These are places you actually earn your money. If you own an existing business you may not have much choice in the matter and you may have to bite the bullet and pay some taxes here. If you earn money with your skills or know-how you can choose an offshore haven as your business base, so it's tax free. Either way, your business will be incorporated so you never have to file any personal tax returns anywhere.
5th flag
ASSET HAVENS
These countries are where you keep your savings and investments, safely away from where the money is actually earned or spent. They should score highly on respect for privacy, communications, professionalism and stability. Your accounts will be controlled by internet or fax.
