How to avoid offshore mistakes Kevin Trudeau made that landed him in prison?
0:15 who is Kevin Trudeau
Kevin Trudeau was an infomercial whiz who sold all kinds of cures of all kinds of ailments to Americans, not to mention his advice on how to get free money from the US government.
He had a lot of success for decades, though he constantly had issues with The Federal Trade Commission due to him making false claims.
Even though Trudeau made a settlement with the Commission not to do it anymore, he wasn't able to uphold it.
After that, he was sued by the FDC and found guilty, and is now spending his 10-year sentence in prison.
This case, among many others, shows how freedom of speech in America is on the decline.
Small countries like Surinam and Guayana have more press freedom than the US and that fact alone is enough to help you understand the situation.
Andrew is here to talk about Trudeau's mistakes that cost him a lot of money and finally, his freedom.
1:56 Mistake # 1: Living and working in the USA
Andrew talks in depth about why America isn't a place and how the American government has made it almost impossible to do business there.
Andrew also shares his opinion on why this is the state in the country and why people who have done nothing wrong have such difficulties in having their own business.
The US tax regime is incredibly demanding and if you're self-employed, most of your earned money will go to paying total income tax.
4:47 Mistake # 2: Wrong Offshore Strategies
The second, more important mistake Kevin Trudeau made is the one that includes wrong offshore strategies.
So, what did he do wrong?
It's important to talk about the fact that Trudeau actually tried to hide all his offshore property and finances, so the government accused him of hiding his money.
It's important to note that Trudeau was made an example with such a strict sentence.
The core of the problem here is that though it's completely legal, it's ridiculously difficult for an American to open an offshore bank account.
This is because the US doesn't want you to move your assets elsewhere, they want to have access to your money.
Trudeau's biggest problem was the fact that he appeared to be hiding what he had, and naturally, the government responded very poorly to that, sending him to prison.
8:01 What the Government don't want you to know about Offshore banking
There's nothing illegal about moving your money offshore, it's actually better for your business to do so because of the significant benefits.
These perks include saving a small fortune by paying zero tax and more luxuries, just to name a few.
American government showed in the case of Trudeau that they don't want you to do anything offshore.
10:05 What secrets that the attendees of Passport to Freedom event have learned from the event
*2017 update* Unfortunately we do not distribute DVDs that were mentioned in this video any more.
ABOUT NOMAD CAPITALIST
Andrew Henderson travels to nearly 30 countries every year to stay up to date on the latest legal strategies for entrepreneurs and investors to pay less tax, grow their money faster, and build their personal freedom.
Andrew started Nomad Capitalist to help people like you follow his five magic words: "go where you're treated best". He has personally started foreign companies, opened offshore bank accounts, and obtained multiple second passports.
He also learned the hard way that perpetual information seeking is often the biggest barrier to getting the results you want. Many entrepreneurs spend months and even years constantly researching how to pay less in tax or live overseas, but are afraid to make the jump.
As a result, they get stuck and keep paying a fortune in taxes and never get the lifestyle they deserve.
Nomad Capitalist's Youtube channel is based on Andrew's vision that focusing on the end result, rather than the latest shiny object, is the best way to actually obtain the benefits of the Nomad Capitalist lifestyle.
About Andrew: http://www.nomadcapitalist.com/about/
Our website: http://www.nomadcapitalist.com
Our blog: http://www.nomadcapitalist.com/blog/
Work with Andrew: http://www.holanomad.com/