Welcome to Radical Personal Finance to Show dedicated to providing you with knowledge, skills, insight, and encouragement you need to live a rich and meaningful life now, while building a plan for financial freedom in 10 years or less.

Today I'm going to round out my three-part tax series here by presenting to you the case for moving

to Porto Rico, or as of course the Puerto Ricans would say, Puerto Rico, the case for moving to Puerto Rico.

And I want to do two things in today's show.

Number one, I'm going to expose many listeners to a brand new idea of something that you've never thought of.

And this very well could be a magic key that will save you hundreds of thousands of

perhaps millions of dollars of tax legally.

And I am not kidding with that number. This is a powerful tool. But number two I also hope to bring a little bit more clarity to those listeners who have heard of the idea of moving to Puerto Rico, but who have perhaps received some erroneous information.

So let me start by explaining the problem.

For US citizens or US persons defined again as a US citizen or a green card

holder for US persons the US tax net is inescapable. It's very frustrating because no matter where you go in the world

the US federal government and the IRS will follow you. They will follow you and they will tax you. And what's very

difficult about this is as the world's police power the US government has

powers that simply do not exist, they're not held by other nations.

For example, the country of Eritrea is the only other country in the world that I'm aware of that

has what's called citizenship-based taxation, which means they tax all of their

citizens no matter where in the world they live. They're doing it to pay for a civil war

that they either had or are having, and I think the tax rate that they impose on Eritrean

citizens is about 2%.

I don't know any Eritrean citizens, but I doubt that there is a single Eritrean citizen

anywhere in the world that is not living in Eritrea, that is particularly

worried about the tax being imposed upon them by the nation of Eritrea.

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