By Mark Nestmann • June 5, 2013
It's not something you want to think about, but old taxes can come back to haunt you. This is especially true of returns you've never filed. The statute of limitations—that legal egg timer, normally set to three years—never starts to run on unreported activities. And there are cases now of the IRS going back decades, collecting big money—plus penalties and interest—on form-filing failures, accounting errors, and innocent mistakes by unwary people.
By Mark Nestmann • May 28, 2013
Official IRS statistics published in the Federal Register show that the number of U.S. citizens or long-term residents losing U.S. citizenship increased from 45 in the last quarter of 2012 to 679 in the first quarter of 2013. In 2012, according to IRS expatriation statistics, 932 Americans officially expatriated.
By Dr. Gabriela Kleeber • May 24, 2013
Why would someone want to become a resident or a citizen of Austria?
By Mark Nestmann • May 21, 2013
While you’d never know it reading recent headlines describing IRS targeting of conservative “Tea Party” type groups, a much larger IRS effort is underway to identify U.S. persons who have failed to disclose reportable and possibly taxable non-U.S. investments.
By Mark Nestmann • May 18, 2013
It’s no secret that many European countries are in dire financial straits. While the United Kingdom is in better financial health than say, Cyprus, public finances have approached crisis mode. The U.K.’s budget deficit for 2013-2014 will approach 8% of GDP, more than double the figure considered sustainable even by Keynesian economists. The country is therefore ready to woo high net worth immigrants.
By P. T. Freeman • May 12, 2013
As a former U.S. citizen, I still come back to the United States periodically to visit friends and family. When I do, I always try to use the U.S. Customs and Border Protection's (C&BP ) pre-clearance facility.
By Mark Nestmann • May 7, 2013
Last week, six Nestmann Group clients applying for economic passport and citizenship in the Commonwealth of Dominica had face-to-face interviews in Roseau, Dominica's capital. The interview is an integral part of the application process, and is scheduled only after an applicant has received preliminary approval for their application.
By Mark Nestmann • May 3, 2013
If you travel internationally with a laptop computer, smart phone, or other electronic devices, beware. Customs officials may seize, search and copy the contents of any such device. In most countries, there's no arrest, warrant or probable cause required. Every day, there are warrantless searches of electronic devices at U.S. Border crossings.
By Mark Nestmann • April 30, 2013
In the aftermath of the forced confiscation of bank accounts in Cyprus, the question that clients ask me most is, “could it happen here?” “Here” is wherever the client lives or invests, and could be the United States, Canada, Australia, New Zealand, Switzerland, or any other country. The answer is yes. This result stems from the nature of our modern financial system, built as it is on the flawed foundation of a poorly-understood concept called “fractional reserve banking.”
By Paul Rosenberg • April 24, 2013
(Mark here. I've known Paul Rosenberg, the CEO of virtual private network provider Cryptohippie, for many years. Paul recently re-launched his very informative "Freeman's Perspective" service, and I agreed to publish one of his articles. I hope you enjoy his writing.)
By Mark Nestmann • April 23, 2013
I’ve just returned from a week-long working vacation in Peru. It’s a country with a fascinating history, and as always when I visit a new country, I tried to assess some of the offshore opportunities there and answer for myself any expatriation questions regarding that country.
By Mark Nestmann • April 9, 2013
Now that the U.S. tax season is well under way, tax preparers all over the country are doling out appointments to those that live within our borders. But just what are the tax obligations and tax breaks, for U.S. citizens or green card holders living abroad?
By Mark Nestmann • April 6, 2013
I’m pleased to announce that The Nestmann Group now can offer an approval guarantee for St. Kitts and Nevis Citizenship By Investment for qualified applicants. Along with economic citizenship, will come a passport from the Federation of St. Kitts & Nevis.
By Mark Nestmann • April 3, 2013
Over the last few weeks, I’ve watched in horror as the financial situation in Cyprus goes from bad to worse.
By Mark Nestmann • March 28, 2013
“I’m from the IRS and I’m here to help.” Yes, that's one of life's big lies, but several years ago it looked as if that the IRS actually intended to help you out if you had an offshore tax problem. In 2009, the IRS introduced something it called the “Offshore Voluntary Disclosure Program” (OVDP). The IRS designed it to encourage U.S. taxpayers to come forward with information about previously undisclosed offshore bank accounts, in exchange for reduced penalties.
By Mark Nestmann • March 25, 2013
Over the last few years, I’ve helped dozens of U.S. citizens and permanent residents (“green card” holders) give up their U.S. nationality or residence status. This is called Expatriation.
By Mark Nestmann • March 20, 2013
No, I’m not saying that you’re a dummy. What I am saying is that it’s easy for someone to monitor your cell phone activity. Almost any dummy can figure it out, hence the title "Cell Tracking For Dummies".
By P. T. Freeman • March 13, 2013
As The Nestmann Group's "go to" guy for experience and living abroad, many of our clients and readers know that I host a radio show called the "Second Passport, Residency and Travel Hour" each Tuesday at 15:00 U.S. Eastern time on the Overseas Radio Network.
By Mark Nestmann • March 8, 2013
Australian residency is an often overlooked option for individuals seeking permanent residence in a first-world, English-speaking country.
By Mark Nestmann • February 26, 2013
Blowback- an unforeseen and unwanted effect, result, or set of repercussions
By Mark Nestmann • February 18, 2013
How many felonies have you committed today? If you're like most Americans, you probably violate federal or state law several times each day, without even knowing it.
By Mark Nestmann • February 13, 2013
Two weeks ago, I returned to the United States after more than three weeks abroad, first in the Caribbean, then in Europe. I've come back with new options for Fast-Track EU Citizenship.
By Mark Nestmann • February 7, 2013
Perhaps you can empathize with the unfortunate Gracia C. Martore and her unfortunate recent experience regarding public records.
By Mark Nestmann • February 3, 2013
I left Zurich recently after a three-day visit. Not having visited the city in winter before, I saw a side of Zurich that I'd not previously encountered. Everything still works flawlessly, and the trains leave exactly on time--not even one minute late. But prices are somewhat more affordable in winter, now that most tourists have departed for warmer climates. It was the perfect opportunity to research offshore investments.
By Mark Nestmann • January 23, 2013
I've spent the last three days in Vienna, Austria. Even in January's freezing cold, this city sparkles. And it functions almost flawlessly. Perhaps that's why Mercer's, a human resources consultancy, rates Vienna the world's most livable city.
By Mark Nestmann • January 16, 2013
Greetings from Nevis! I'm here in the tropics and glad to have escaped the "brutal" winter weather of Phoenix, where evening temperatures have fallen below freezing for four nights consecutively.
By P. T. Freeman • January 12, 2013
I arrived here in the Commonwealth of Dominica earlier this week. It's always a pleasure to come here; I go through the "residents" line at passport control and the official stamps my Dominica passport with the notation "RR" for returning resident.
By Mark Nestmann • January 9, 2013
(This is an important update to a posting originally published Nov. 9, 2012).
By Mark Nestmann • January 7, 2013
In between eggnog, opening gifts, along with a bout of flu, last week I reviewed a fascinating article dealing with the near century-long tradition of passport denials by U.S. officials.
By Mark Nestmann • January 3, 2013
Place yourself in the shoes of Gerard Depardieu.