Having assets in safe jurisdictions outside your country of residence is part of the solution for long-lasting wealth
When taxes get too high, those with money move to countries with less taxes.
... Canada ... has been a beacon for hard-working individuals and families from around the world. Our rule of law and lack of corruption made Canada a sought-after place to raise a family, work or create a business ...
However, the path is (increasingly) obfuscated because ... (of) a combination of progressive and high taxation along with a significant overstep in regulations and the loss of the individual’s rights and freedoms. This is akin to the story of the frog being slowly boiled. By the time he feels uncomfortable, it’s already too late to jump out ...
I’ve seen an exodus of family enterprises and entrepreneurs from Canada during the past few years and the flow is getting faster. These families have been moving human and financial capital ...
For families of meaningful wealth, we’re not suggesting the use of ultra-secretive, low-tax, offshore jurisdictions, which, due to the Common Reporting Standard (CRS) have become much less secretive. For the record, the United States is becoming the most significant offshore location in the world because it is not a member of CRS, even though it has meaningful income taxes ...
The key to success is to never lose money. As Warren Buffett’s Rule No. 2 states: “Never forget rule No.1”.
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