• The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success
  1. Join 40,000+ entrepreneurs
    who are kicking butt and
    winning their dream life.

    Unscripted™ Entrepreneurship:
    A Business That Pays More Than Money, It Pays Time.

    "Fastlane" is an entrepreneur discussion forum based on The Unscripted Entrepreneurial Framework (TUNEF) outlined in the two best-selling books by MJ DeMarco (The Millionaire Fastlane and UNSCRIPTED™). From multimillionaires to digital nomads, the forum features real entrepreneurs creating real businesses.

    Download (Unscripted) Download (Millionaire Fastlane)  Register
    Registering for the forum removes this block!

FORUM SEARCH

Get answers about starting a business from real entrepreneurs. Powered by Google.

MARKETPLACE New Forum Sponsor (Global Wealth Protection)

Discussion in 'Fastlane Marketplace' started by MJ DeMarco, Jun 9, 2015.

  1. MJ DeMarco
    Offline

    MJ DeMarco Raving Lunatic Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

    Messages:
    25,528
    Likes Received:
    74,366
    Joined:
    Jul 23, 2007
    Gender:
    Male
    Location:
    Phoenix, AZ
    Rep Bank:
    $301,179
    Admin Post
    Please welcome a new sponsor to the board, Bobby Casey, although @GlobalWealth has been around this neighborhood since we broke ground years ago.

    He offers information/knowledge regarding asset protection and investment alternatives that go beyond your simple IRA, or a US based index fund. Some detail...

    This membership product is unlike anything in the marketplace. We are using our experience and rolodex of connections to bring you information about how to move your business offshore, protect your wealth in a private manner and explore the world as a virtual nomad. Every month you will learn ways to make your business and your wealth completely anonymous - like John D Rockefeller stated, "Own nothing, but control everything". You will learn strategies for setting up and using proper offshore structures for your business and your investments, how, where and why to obtain 2nd residency and/or citizenship, how, where and why to invest in foreign real estate, precious metals investment and storage offshore and much more. Members can join monthly live webinars as well as join at live members events around the world. Additionally members get huge discounts on domestic and offshore corporate services, trust and foundation administration, opening offshore bank and brokerage accounts and more.

    More info...

    https://globalwealthprotection.leadpages.net/offshore-ecommerce-guide-fastlane/

    Or

    globalwealthprotection.com (which has a lot of free resources/articles)

    If you have questions for him, I'm sure he'd respond here. :)
     
    Last edited: Jun 9, 2015
    Eskil, ShakeItUp, 1825tulane and 14 others like this.
  2. GlobalWealth
    Offline

    GlobalWealth Platinum Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

    Messages:
    2,233
    Likes Received:
    3,857
    Joined:
    Sep 6, 2009
    Location:
    Latvia
    Rep Bank:
    $20,188
    Thanks MJ. Any questions - ask away.
     
    Eskil, 1825tulane, themaxx and 5 others like this.
  3. Iwokeup
    Offline

    Iwokeup Aut viam invenium aut faciam Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass Summit Attendee

    Messages:
    1,331
    Likes Received:
    3,538
    Joined:
    May 23, 2014
    Gender:
    Male
    Location:
    The East Coast
    Rep Bank:
    $20,638
    At what financial point should an entrepreneur consider offshore/anonymous wealth protection? Or asked another way, who is your ideal "entry level " client? Thanks!
     
    Tobore and ChickenHawk like this.
  4. GlobalWealth
    Offline

    GlobalWealth Platinum Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

    Messages:
    2,233
    Likes Received:
    3,857
    Joined:
    Sep 6, 2009
    Location:
    Latvia
    Rep Bank:
    $20,188
    If you see our forum sponsor link it's for our free offshore ecommerce report. Anyone serious about taking those steps should consider our membership group. That is an information product educating entrepreneurs on offshore strategies as well as free consultations, monthly live webinars, live events and product discounts. Thats our entry level product.

    Anyone with a virtual business can benefit from strategies we discuss.

    Beyond that, for offshore corporate services - there isn't really a threshold. We have startups that go offshore from the beginning. Some are well established companies. It really depends on your business if its viable for you. Thats why we have the membership group that allows members to learn as well as get free consultations to assess their situation.

    As for offshore asset management. You should probably have a 1mm net worth.
     
    Eskil, Chitown, Vigilante and 3 others like this.
  5. Bila
    Offline

    Bila Gold Contributor Read Millionaire Fastlane Speedway Pass

    Messages:
    591
    Likes Received:
    1,057
    Joined:
    Dec 2, 2014
    Gender:
    Female
    Location:
    Ontario Canada
    Rep Bank:
    $5,882
    Great newsletters that i recommand signing up for ..... Eventhough, politically sometimes we are not on the same side;) Great insight nevertheless
     
    GlobalWealth likes this.
  6. GuestUser156
    Online

    GuestUser156 Guest

    Rep Bank:
    $
    I have a question, which I hope you could answer for me.

    I have thought about moving my company from Denmark to Estonia.

    We do B2B. Just two owners selling over the phone and in person.
    We don't have an office, warehouse or any employees. Everything is outsourced.

    My main concern is invoicing.
    I would have to send invoices from the Estonian company with EBAN/SWIFT codes to Danish companies, right?
    Not sure what they would think about this. They usually just enter an account number and transfer the money.
    Besides, I believe most companies would prefer to do business with a company, that pays corporate taxes in the country, where they are doing business.

    What are your thoughts on this? :)

    Thanks for your time.
     
  7. GlobalWealth
    Offline

    GlobalWealth Platinum Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

    Messages:
    2,233
    Likes Received:
    3,857
    Joined:
    Sep 6, 2009
    Location:
    Latvia
    Rep Bank:
    $20,188
    Thanks Bila. I am well aware that we are not "mainstream" in our views and what we write about. We are trying to get our readers to see a different viewpoint, agree or not. People never learn when they continue to read viewspoints perfectly aligned with their own.
     
  8. GlobalWealth
    Offline

    GlobalWealth Platinum Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

    Messages:
    2,233
    Likes Received:
    3,857
    Joined:
    Sep 6, 2009
    Location:
    Latvia
    Rep Bank:
    $20,188
    You are overly concerned about this. It is an irrational fear to be honest.

    First of all, Estonia is in the EU. It's no different than transacting with a company in Germany, Czech Republic, or Finland. TFEU (treaty of the functioning of the european union) expressly permits cross border transactions and eliminates borders from a business perspective.

    Do you think google is concerned that their clients will think less of them because they have an Irish operating company and a Dutch holding company for tax minimization?
     
    Chitown and Bila like this.
  9. GuestUser156
    Online

    GuestUser156 Guest

    Rep Bank:
    $
    I understand your point, and I think you're right.

    But I think there's a difference here, as we're not a global company like Google, but a business operating only in Denmark.

    Hmmm ... I'll think about it. I just believe I'd have some explaining to do with customers, when they see our address, bank info etc. on the invoice. Well, maybe not :rolleyes:.

    Thanks for your help :).
     
  10. GlobalWealth
    Offline

    GlobalWealth Platinum Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

    Messages:
    2,233
    Likes Received:
    3,857
    Joined:
    Sep 6, 2009
    Location:
    Latvia
    Rep Bank:
    $20,188
    Open the bank account in Estonia. Better banking anyway.
     
  11. MTF
    Offline

    MTF Never give up Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

    Messages:
    2,017
    Likes Received:
    8,750
    Joined:
    May 1, 2011
    Rep Bank:
    $57,328
    @GlobalWealth, I have a slightly different question... I really love the concept of internationalization, and particularly having your entire life (personal stuff, business, investment) spread over different countries. I've read a lot about having a foreign bank account, second residency, offshore companies, etc.

    What interests me the most at the moment, though, is how you scout business and investment opportunities in different countries (like your idea of renting apartments in various countries through Airbnb). Is such stuff (not necessarily Airbnb, I'm talking in general about international opportunities) mostly reserved for people with more capital or do you also have some tips for people who'd like to start, but don't necessarily have six figures to invest right away? Also, any particular tips for conducting business/investing in developing countries?
     
  12. GlobalWealth
    Offline

    GlobalWealth Platinum Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

    Messages:
    2,233
    Likes Received:
    3,857
    Joined:
    Sep 6, 2009
    Location:
    Latvia
    Rep Bank:
    $20,188
    This is a pretty vague question so I'll do my best. If you have a more specific question fire away.

    For me personally, I have a couple of businesses already:
    • US domestic corporate services (registering LLC's)
    • Offshore corporate services (registered IBC/LLC's)
    • Offshore trust and fiduciary services
    • Consulting (same topics)
    • Membership site (same topics)
    All my business are interrelated so it is not like I have 5 separate jobs. But it is enough.

    I am not looking for business opportunities that require additional time input. I am only looking for more clients that fall within my core area of competence.

    If I find a business opportunity that requires time, I don't investigate it. I am only looking at investment opportunities.

    And for me personally, I am primarily looking at real estate and private business.

    The airbnb thing is an excellent choice because it fits my lifestyle. I can earn a nice yield while getting to live rent free in multiple countries. I assume you saw my thread here:

    https://www.thefastlaneforum.com/community/threads/live-rent-free-in-multiple-countries.59964/

    This explains in detail how I source these deals.

    Hard assets like real estate are perfect for me. They give me a way to "park" cash outside of the banking system, get paid rental income, AND get a free place to live. It requires very little time on my behalf - which is a requirement - but yields considerably more than I could get in the stock market.

    Yes, you are at risk of falling real estate prices - but you have this risk with any investment. At least with real estate, even if it falls by 50%, I still have a place to live.

    As for private business investments. I am looking for unique but simple investments that are win/win for both me an the entrepreneur and pay me so much that it is silly for me to NOT invest.

    I recently made a private investment that is a combination of an interest bearing loan and a percentage of profit. I have a friend who needed a new piece of heavy equipment in his business but he has bad credit from the housing crisis and not enough cash to buy it. So I made him a deal loaning him money to buy the equipment at a very good interest rate PLUS a percentage of profits until the equipment is paid off. We bought this piece of equipment used at a very good price so even if the business falls apart, I can always sell the equipment to recoup my investment.

    It was a great deal for both of us that will increase his monthly income by almost 50% and my net yield runs around 25% per year or more depending on how he does.

    In this case, I only invested because I know the guy very well. And I know how he runs his business.

    So in short, I invest in unique but simple businesses where I personally investigate the business opportunity and know the entrepreneur. I want to know the margin of error is so big, it is almost impossible for me to lose money. Like above, I can always sell the equipment, or the apartments to recoup my investment.

    That's not to say I wouldn't invest in a business without hard assets, but I would need to know the entrepreneur REALLY well.
     
    Last edited by a moderator: May 6, 2018
    Omni, Chitown, pickeringmt and 3 others like this.
  13. MTF
    Offline

    MTF Never give up Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

    Messages:
    2,017
    Likes Received:
    8,750
    Joined:
    May 1, 2011
    Rep Bank:
    $57,328
    Thank you, @GlobalWealth.

    Regarding Estonian banks, which bank do you recommend the most? I've looked into the ones mentioned on the e-estonia.com site (LHV, Swedbank, and SEB) and it seems LHV is the best choice. My Estonian friend told me they're the smallest bank, but the most innovative one (I can tell by the site).

    Which bank do you generally recommend for people looking for the ease of international use?
     
  14. GlobalWealth
    Offline

    GlobalWealth Platinum Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

    Messages:
    2,233
    Likes Received:
    3,857
    Joined:
    Sep 6, 2009
    Location:
    Latvia
    Rep Bank:
    $20,188
  15. Esquire
    Offline

    Esquire Better Call Z Speedway Pass

    Messages:
    731
    Likes Received:
    1,654
    Joined:
    Oct 13, 2012
    Gender:
    Male
    Rep Bank:
    $7,708
    Doesn't opening an account with a foreign bank heighten your risk for an IRS audit ...?

    And aren't there some sort of special reporting requirements when you open a bank account with a foreign bank ...?

    Those would be my top two concerns ... what are your thoughts?
     
  16. GlobalWealth
    Offline

    GlobalWealth Platinum Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

    Messages:
    2,233
    Likes Received:
    3,857
    Joined:
    Sep 6, 2009
    Location:
    Latvia
    Rep Bank:
    $20,188
    According to the cpas we work with, as long as you file properly there is zero increase in audit risk.

    As for filings. You need to file is you have more than usd10k in aggregate in foreign accounts. Nothing complicated though.
     
    Esquire likes this.
  17. JasonR
    Offline

    JasonR Maverick Read Millionaire Fastlane Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

    Messages:
    1,974
    Likes Received:
    9,495
    Joined:
    May 29, 2012
    Gender:
    Male
    Location:
    Traveling
    Rep Bank:
    $65,597
    Just wanted to chime in and say Bobby (@GlobalWealth) is a walking Wikipedia article on this stuff. I sat down with him for a day and I'm pretty sure he know 99% of the questions I asked him. I currently hadn't been out of the country much...

    But now I'm typing this in Bali.

    Again, Bobby knows his sh!t like no one else I know when it comes to this stuff.
     
  18. GlobalWealth
    Offline

    GlobalWealth Platinum Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

    Messages:
    2,233
    Likes Received:
    3,857
    Joined:
    Sep 6, 2009
    Location:
    Latvia
    Rep Bank:
    $20,188
    Mad props for following through with it. And I know for a fact you do not now, nor ever will regret it. I bet it has already changed your worldview.

    Thanks again. I hope something we discussed was at least a little useful.
     
    Mrs. BRKb and JasonR like this.
  19. MTF
    Offline

    MTF Never give up Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

    Messages:
    2,017
    Likes Received:
    8,750
    Joined:
    May 1, 2011
    Rep Bank:
    $57,328
    @GlobalWealth, just wanted to let you know that I joined GWP Insiders mostly because of your generous advice here. I'm looking forward to learning more from you both here on the forum and on your site (and hopefully in person soon).
     
    Chitown and GlobalWealth like this.
  20. GlobalWealth
    Offline

    GlobalWealth Platinum Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

    Messages:
    2,233
    Likes Received:
    3,857
    Joined:
    Sep 6, 2009
    Location:
    Latvia
    Rep Bank:
    $20,188
    Hey MTF,
    Glad to have you as a new member. There is a wealth of information in there about foreign residency, 2nd citizenship, asset protection, moving your business offshore, investments, and more.

    Make sure to view our webinars from the last 2 months. In May we started doing live webinars for members. May was, "Become an Offshore Real Estate Mogul and Live for Free" - we discussed how to invest in foreign real estate and rent out short term for a solid yield and a free place to live. I did a post on the forum about this topic but the webinar goes into much more detail.

    June was, "Take Control of Your Retirement Accounts NOW" - we discussed how to self manage your IRA or 401k and invest in precious metals, foreign or domestic real estate, private businesses and more.
     
    Last edited by a moderator: May 6, 2018
    PedroG, Iwokeup and MTF like this.
  21. GlobalWealth
    Offline

    GlobalWealth Platinum Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

    Messages:
    2,233
    Likes Received:
    3,857
    Joined:
    Sep 6, 2009
    Location:
    Latvia
    Rep Bank:
    $20,188
    For anyone interested, our July live webinar for members is on 7/16/15 at noon est. It is "Taking Your Online Business Offshore". We will discuss the step by step strategies of how and why to take your virtual business offshore to protect your assets and save on taxes.
     
  22. MTF
    Offline

    MTF Never give up Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

    Messages:
    2,017
    Likes Received:
    8,750
    Joined:
    May 1, 2011
    Rep Bank:
    $57,328
    Gsuz and GlobalWealth like this.
  23. GlobalWealth
    Offline

    GlobalWealth Platinum Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

    Messages:
    2,233
    Likes Received:
    3,857
    Joined:
    Sep 6, 2009
    Location:
    Latvia
    Rep Bank:
    $20,188
    Thanks. It was a fun podcast

    Sent from my SM-G900FD using Tapatalk
     
  24. ShakeItUp
    Offline

    ShakeItUp New Contributor Read Millionaire Fastlane

    Messages:
    16
    Likes Received:
    9
    Joined:
    Apr 30, 2011
    Gender:
    Male
    Location:
    Sydney, Australia
    Rep Bank:
    $114
    I own a portfolio of ecommerce businesses and have been considering offshoring (business first, then myself) for over a year now for tax / lifestyle reasons. I've also done periods of "perpetual traveling" (on and off for months to a year at a time) myself, and frankly being stuck in Australia is starting to get a bit suffocating :)

    @GlobalWealth I am very interested in your GWP insider membership. However, my businesses and residency are Australia based and I am a bit concerned about one thing. How much of your content is US centric?

    For example, the GWP Insider sales page definitely does sound like large chunks of the content will be targeted mainly to US residents (self directed IRAs, 401Ks etc).

    I do understand that there are equivalents concepts for Australians (self managed super funds etc, which I am already utilising), but I would still like to know how much of the content is specifically targeted to US members.
     
    Mckenzie likes this.
  25. GlobalWealth
    Offline

    GlobalWealth Platinum Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

    Messages:
    2,233
    Likes Received:
    3,857
    Joined:
    Sep 6, 2009
    Location:
    Latvia
    Rep Bank:
    $20,188
    We have clients from all over the world. Admittedly about 50% are American so we do "speak" to that audience, but nearly all of our strategies are able to be implemented by other nationalities.

    Of course the information about IRA/401k's and offshore tax planning for Americans is American-centric, but we work with many "commonwealth" clients as well.
     
    Last edited by a moderator: May 6, 2018
    ShakeItUp likes this.

Share This Page