Five Flag / Six Flag (PT) Theory

[BankNote]

If you're serious about the PT lifestyle, you should check out these two sites:

http://www.sovereignlife.com
http://www.sovereignman.com

Both sites have free info, but the best info is as a paid member.

I was a paid member there for some time. But asked for a refund as I found it a total scam site. I had to struggle to get my money back despite the "money refund" policy.

 

[Johnno]

Well - I am ''passport rich'' but asset poor - I have three passports and when I get citizenship here I will have four - but sadly I don't have the ''life of riley'' to go with it - just your average working class ex soldier/policeman/teacher/professor/telephone psychic of English/Irish/Scottish extraction trying to make a few pesos and enjoy a bit of the good life as opposed to the ''grind'' back home However - one thing to me is clear - MOST of this stuff is purely scam - apart from the 1% it directly applies to who already, because of their existing asset base, have the choice to do the ''5 flags'' or whatever they want - not because this approach is so great but because their asset base allows them the luxury of MANY options that the average joe blow simply doesn't have... My 2 pesos worth and considering its after 2am here in BA and I have to work in a few hours I think I'll finish off the rest of my 18 peso bottle of anis and get some sleep

 

[jago25_98]

Yes, generally it's wealthier people who manage to wriggle free from border control like this. Although, there may be some historical examples from Jews escaping Nazi germany, or Nazi's escaping Nazi germany! Both of which many came here!

Argentina is indeed not the best place for any of the flags right now, on paper. However, as we all know, what Argentina appears to be on paper is not the same as what it is in reality, that being both the enigma and frustration.

The theory is very useful for getting it clear in ones head. Most think that where you are born is what you're stuck with, but the illuminating truth is that there are different ways of viewing the question `Where are you from?`, which in a global world is sounding more and more strange. For example:

`Where are you from?` could be answered:

`I was originally born in the UK. I am of Argentine nationality with a DNI. My parents were Chinese. I work for an international conglomerate that is viewed by the public as America but is actually incorporated in Pamama. My savings are in Uruguay but my income is multinational. My domincil is Saudi Arabia but I like to spend my free time in Brazil.`

The thing is, if you're in a bar chatting to the average girl, this is generally not the answer she is expecting.

My point is, people are ignorant and borders persist. We're moving to a one world government and the bancor but instead of carrying the advantage of educating people I think there will instead be a reduction of choice and a lag as people come to see that people have more in common than differences. It helps if you're European to this extent as it's already happened there.

You can shop for places to live if you can afford it.
It's true some money helps but it's not essential. I think it was Pamama who were offering a free passport for investors pledging $40,000 for some rainforest. And of course, was it Kraft who bought so much Argentine land the sovereignty of the nation was brought into question?

The truth is that countries as we know them don't really exist anymore and the only way to see what's going on is to see what money is doing.

Sorry, got off topic there.

Personally I could switch to the 3 flag straight away but it would mean a change of income away from employee to self employed. You need a business or an employer who will subcontract in an environment that allows it. It's something I'll do straight away if I ever manage that change. The only thing stopping me doing it right now is that as soon as I switch to self employed I lose all employee rights, so you got to be sure you know what you're doing (or nothing to lose) before trying this.

Is it ethical?
If you're a capitalist I'd say ye. But remember you don't have to go for the bottom line. You could, for example, choose to pay tax in a country that hasn't started any wars, for example.

 

[Bajo_cero2]

You don´t have to pay taxes over the money you make outside the country.
For the assets you already have, the tax for wealth is 0.75 % per year and only you pay for the assets AFIP know. I am not an accountant but I asked mine about it. So, I apologize is if instead of 0.75 is 0.76%.
Being practical, this is a country where is very easy to evade taxes.
Regards

 

[oogabooga]

I was a paid member there for some time. But asked for a refund as I found it a total scam site. I had to struggle to get my money back despite the "money refund" policy.

Which one are you referring to?

Also, "scam" is a rather broad brush with which to paint a picture. Any anonymous person on the Internet uses it to try to discredit any service they're the tiniest bit unhappy with. You obviously got your money back, so myself & the hundreds of happy people in each service ask -- Where's the scam?

 

[gouchobob]

I'm sure bajo cero will correct me if I'm wrong, but I think the rule is that if you are either have residency, citizenship or you are in Argentina for more than 180 days per year and thus you are no longer classified as a tourist and are deemed resident for tax purposes, then you are technically liable for global asset tax of.. 1.5%?

I'm not sure if anyone has ever been caught for evading this tax, but if you're here for less than 6 months a year don't worry about it.

Your liable for a lot more than 1.5%. Argentina taxes on worldwide income. Income tax rates are high. Even if this flag thing makes sense(I have my doubts), Argentina would not be the place to do it.

Linked below is a link on taxes in Argentina.

http://www.globalpropertyguide.com/Latin-America/Argentina/Taxes-and-Costs

 

[gouchobob]

You don´t have to pay taxes over the money you make outside the country.
For the assets you already have, the tax for wealth is 0.75 % per year and only you pay for the assets AFIP know. I am not an accountant but I asked mine about it. So, I apologize is if instead of 0.75 is 0.76%.
Being practical, this is a country where is very easy to evade taxes.
Regards

This isn't correct. Check another link below on income taxes in Argentina.

http://www.taxrates.cc/html/argentina-tax-rates.html

How many people are actually paying what they owe is another question.

 

[Johnno]

With one thing I think you are spot on - the need to change to the sub-contractor thing (with a very flexible outfit you can work for) or being self-employed but in a field/industry with an equal amount of flexibility/portability... Some things will work - some won't... In my case I work over the phone and as long as I have a decent voip connection I can work from anywhere in the world to anywhere in the world - but for someone working class and without massive assets I see this as one of the few solutions I can see as possible off the top of my head...

 

[Johnno]

Sorry if I look ''out of sync'' here - I started typing 8 hours ago and only just hit the send button now lol Was responding to jago25_98 above...

 

[jenh]

With the (still) decent value for the dollar (and other hard currencies) here, though, one could make the argument that Argentina is a great "flag" place to spend - especially if you like wine, cows, cheap land, polo ponies...