More than 150 attendees gathered at the Atlantis Resort in the Bahamas for the Global Financial Summit. Our theme this year was ‚??Market Solutions to World Problems,‚?Ě as opposed to government solutions.
In this tax haven just off the U.S. borders, we gained some valuable advice.
Peter Schiff, president of EuroPacific Capital, was a popular speaker. He told us that he has moved his asset management firm and employees to Puerto Rico to take advantage of the low tax rates there (only 4% income tax). Hedge fund billionaire John Paulson did the same earlier.
And there were several experts who talked about the tax benefits of living in the Bahamas, where there is no income, capital gains or estate taxes. (Most of their revenue comes from a 40% import duty.) Mutual fund magnate John Templeton lived there for years and took full advantage of this tax-free lifestyle. (He said his investment performance improved when he lived there.)
Read more about my Global Summit in the tax haven of the Bahamas at Eagle Daily Investor.