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Special EU & EURO Warning – December 14, 2011Offshore Jurisdiction Comparison 
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Introduction – There are companies out there that hold seminars with the intent of selling the attendees real estate. This is also done through websites, books etc. These people go out there and promote countries that they can make a buck in by offering real estate for sale. They may go in and by out tracts of land in a certain section and develop it into lots and then sell the lots to people who trust them. A lot of unhappy people bought in Costa Rica in this way only to later relocate to Panama. The same thing happened in Panama and today is still going on in Panama. The only way to check out a country is to go there. Avoid doing this with a group tour interested in selling you real estate. Go yourself.
Panama Dropping from Position #1 – Now Panama has dropped in ranking in one of these popular lists down from first place. Why? Easy: The price of real estate was shooting up so the realtor/promoters could not find a large enough audience of retirees to sell real estate to. Then Panama changed its secrecy laws and that hurt. There were a lot of bogus real estate projects being sold that never got built. Some of these projects got built and the developers in various ways got the investors out of the projects. These investors thought they were going to make a lot of money and got nothing for their time and trouble. Then as things got bad the Panama banks stopped financing the real estate or did so only under insane conditions like very large down payments, requiring life insurance, etc which speculators could not afford. This meant more pre-sold projects had no buyers in place. More projects failed to get built. They need to be able to offer the retiree a cheap place to live or they will not get excited and buy on a whim on a real estate tour. Forget the not so obvious problems of living in the country, they need to have cheap housing or the attendees will not buy. Anyway Panama exploded because real estate flippers moved in. This is the same reason why the real estate bubble there broke.
Mexico – Now the promoters are back to Mexico. Let us look at Mexico. Criminality is out of control in Mexico. The police are regularly engaged in shootouts with the gangs in major cites. There are massive amounts of kidnappings, ATM robberies, car jackings, human trafficking, narcotics, and every other awful form of crime one could find. Corruption in Mexico is of epic proportions.
Mexico has awful immigration laws. Become a resident or citizen of Mexico and you will be paying taxes to Mexico on all your worldwide income. Their banks and currency are not stable. They are known to have numerous bank failures and currency devaluations.
Mexico is a police state. Civil rights are very limited and for foreigners well even less. You cannot have a gun in Mexico. If you get caught with even one round of a bullet you can go to jail in Mexico. I said a bullet; you do not even need a gun to go to jail in that country. I have been inside of a Mexico City government hospital and let me say Panama is much better. You can’t even drink the water in Mexico.
People are afraid to buy homes in Mexico feeling safer renting. Some years back a number of foreigners had bought homes in Mexico and the government ruled the title void and they lost their homes lock stock and barrel. Any entity promoting Mexico as a retirement haven does not have my vote of confidence. I see Mexico as an awful place to live or visit.
Thailand – This is another one being promoted. Sure in the small cities you can get a house for $10,000 if you do not mind the heat, which is extreme. Try learning the language. Residencies are very hard to get in Thailand. The country is being ruled by the military, which overthrew the government. The country is actively engaged in all sorts of human rights violations including minors involved in sex. There are a lot of drugs there. Corruption is widespread. The only people I ever met that settled there were single men who couldn’t stop talking about the women there and it appears that these women were in varying degrees available for rent or long term lease.
Guatemala – We like Guatemala. Specifically Antigua Guatemala. The laws are good. The food and air is clean. Antigua is super safe. The real estate is most affordable. Residencies are easy. Citizenships can be had much easier than in many countries. Domestic help is cheap. Well to learn more go here:
Is Guatemala the Next Panama or Costa Rica ?
Avoid the Seminar & Newsletter Promoters – They only offer what will make a profit for them. Do some research on Mexico and Thailand and see for your self. While Panama has been experiencing rising real estate prices the older existing real estate is still a bargain often selling for under $1000 a sq. meter. The promoters cannot take the time to sell their newsletter and tour people individual used housing. It is way too time consuming to take them around to look at individual used houses. They need to sell them condos, town homes, tract houses etc in developments. They can stop the bus in one place and sell $6,000,000 in real estate that day. The profit is in it for the promoter this way.
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