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Many rich people leaving US to live on boats or in other countries

Home Forums Community General Chat Many rich people leaving US to live on boats or in other countries

This topic contains 13 replies, has 8 voices, and was last updated by Avatar of cthulhujunior cthulhujunior 4 years, 8 months ago.

Viewing 14 posts - 1 through 14 (of 14 total)
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  • #1055
    Avatar of vincecate
    vincecate
    Participant

    “Because of this, many ultra-wealthy individuals who have chosen to become stateless now cruise outside coastal waters in their mega-yachts in the belief that if they stay on the move, tax authorities will not be able to catch up with them. One analyst who did not want to be named, has estimated the number of stateless tax evaders amounted to a few thousand.”

    There is an exit tax if you officially renounce your US citizenship, so “What these lists fail to show is the vast and increasing numbers of wealthy US citizens who are just ‘dropping out’ – taking all of their wealth and leaving the US without renouncing.”

    http://www.wealth-bulletin.com/rich-life/rich-monitor/content/1054959505/#

    If a Single Family Seastead was better than a yacht, there should be a market for them.

    #7601
    Avatar of wohl1917
    wohl1917
    Participant

    Vince! But that’s the rub: to out run the tax man you’ve got to move pretty darn fast and not stick ’round places that have extradition treaties with the US!lol;-)

    < http://ocr.wikia.com/wiki/Oceanic_Citizens_Republic_Wiki>

    Avatar of DM8954
    DM8954
    Participant

    My first thought was that these thousands of rich people represent a potential market (except for the fact that they already have mega-yachts) or even future allies. The problem, of course, is that they’re essentially outlaws in a way. Grouping them together in a single community and slowing them to a snails pace would make them pretty easy to find. On the other hand, I guess if they’re living on the high seas, they’re legally out of reach and ‘hiding’ in the truest sense of the word isn’t necessary. So, they may want to ‘join the club’ someday but maybe not until we’ve done all the hard work to earn benefits like international recognition (in order to avoid taxes on a stateless person fleeing their former state) of one or more seasteading citizenships, for example.

    Luxury and mobility are what these rich folks are after, not sustainability or permenance. We share interests and goals, of course, but it’s a different market all together.

    #7609
    Avatar of vincecate
    vincecate
    Participant

    DM8954 wrote:

    Luxury and mobility are what these rich folks are after, not sustainability or permenance. We share interests and goals, of course, but it’s a different market all together.

    The Single Family Seastead should work for this market. I don’t know about luxury, but I do want plenty of comfort. It can move around, I don’t think 2 mph (about 50 miles per day) would be a problem but some seastead designs could go faster. Their goals and mine fit fine I think. I expect to have solar power on my SFS and do some fishing, but other than that don’t worry about “sustainability”. And I plan to be migrating around, so don’t think I am after your “permenance”. I think if we can design a structure that is better for living on than a $4 million dollar yacht and only costs $1 million that it would expand the group of people interested in leaving the US.

    I wonder if there should be a “Survivalist Seastead” or “Sustainable Seastead” vision separate from just Single Family Seastead. Can you write up that vision? The ones I have so far are:

    http://wiki.seasteading.org/index.php/Seastead

    Migration plan is:

    http://wiki.seasteading.org/index.php/User:Vincecate/Migration

    There is a start on a surivalist page here:

    http://wiki.seasteading.org/index.php/Survivalist_market

    #7615
    Avatar of Carl-Pålsson
    Carl-Pålsson
    Participant

    I think if we can design a structure that is better for living on than a $4 million dollar yacht and only costs $1 million that it would expand the group of people interested in leaving the US.

    I can think of one: a $1 million yacht. I suspect a yacht (a boat) is a pretty efficient seastead. The obvious problem compared to spar buoys or ball houses might be stability while not under way, but that can perhaps be designed away (catamaran or SWATH hull), or managed by those outriggers that small fishing boats sometimes have.

    #7620
    Avatar of cthulhujunior
    cthulhujunior
    Participant

    Hey. It occured to me, even if these guys decide to stay on their yacht and don’t go for a ‘stead, they could still be valuable trading partners. They won’t have to worry about lugging an entire country into somebody’s port, and won’t have the nationalistic feelings that might make citizens dislike trading with us. Furthermore, a seastead could easily provide a yacht-man shelter during a storm or something like that. Anyway, I think it’s great that people are escaping the tax man, even if it just means running from port to port. Sounds kind of fun, actually.

    #7676
    Avatar of cthulhujunior
    cthulhujunior
    Participant

    Why not do it for fun AND profit? In fact, I think there’s some sort of link between the two, that when people do what they love, they profit from it (firguratively if not literally).

    #7678
    Avatar of Jesrad
    Jesrad
    Participant

    Why not do it for showing off then ? I’m pretty sure a number of very wealthy Hollywood stars that would love to show their appreciation for sustainable development and ecology while at the same time having a bigger yacht than everyone else, by buying an actual tropical island that floats and moves around and recycles its own water while producing its own energy ;)

    #7819
    Avatar of set2survive
    set2survive
    Participant

    There could be a market for replentising supplies on the yatches and providing temporary quarters, medical andf other professional services, entertainment, banking & currnecy exchange. It could be quite lucrative if the number of tax and political refugees continues to grow.

    #7865
    Avatar of SailorTrash
    SailorTrash
    Participant

    My wife and i are planning to be one of the “sailing express” go-betweens, using our boat as our home–which we’re already doing now. No hoarded wealth to take with us, though. We lost our house thanks to the economy, all we have is our boat.

    #8513
    Avatar of SailorTrash
    SailorTrash
    Participant

    Don’t like the climate? Sail elsewhere. Lakes somewhat limit the possibilities, but the Mississippi, for instance, runs from the frigid north to the Gulf of Mexico. Lots of good spots along the way. Good luck finding a donor boat. Seriously. We paid six grand for ours off of Craigslist of all places, which ain’t bad, so keep your eyes open for deals.

    Our sailing seastead isn’t ready for blue water cruising yet, but we’re getting there; just discovered our spare mainsail is in need of stitching, but such is life. Counteracts our joyous discovery that our spare jib is a massive 180 racing sail. Planning to sail south to Jax in March, stay a month or two, then hit the Keys. Just looking for the next good spot to throw the hook.

    http://seagypsies-mikeandkatie.blogspot.com/

    Taking our cue from the Eskimos, we boat people have over 30 words for “leak.”

    #8854
    Avatar of cthulhujunior
    cthulhujunior
    Participant

    Weren’t the early American colonists the rich nobels? Sure, the pioneers to the West were dirt poor, but considering the infrastructure difficulties rich colonists seems like a decent parallel.

    #8855
    Avatar of wohl1917
    wohl1917
    Participant

    the answer is ‘NO’ to your question. Most of Americas early colonists from the 1500s through the early 1600s were indentured servants or employees of the various trading companies chartered by rich nobles. The rich rarely take personal risk: they pay other, poor, people to do that. As for financial risks, America was a very risky proposition: there were several rich nobles who went broke when their colonies failed and only the ones with deep pockets enough to see America as a long term investment made it. As for waiting for the rich to fund seasteading, I don’t see that happening because it is a very risky proposition. If and when they do, unless you plan on being a wage slave, you won’t be invited…

    < http://ocr.wikia.com/wiki/Oceanic_Citizens_Republic_Wiki>

    Avatar of cthulhujunior
    cthulhujunior
    Participant

    I was referring more to the colonies founded before they knew what they were doing. As for the need to be rich to get a seastead, that’s why I’m planning on getting decent financial footing (passive income) first.

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