America's Road to Fame

Chapter 261 Buy Palu?

Although Palu had a good time, you must know that the phosphate mines in their country were formed by the droppings of birds for thousands of years, and there will always be a day when they will be exhausted.With the gradual depletion of phosphate mines, Palu's economy has gradually fallen into difficulties.

In fact, when they were first rich, the leaders of Palu did not think that when the phosphate mines were exhausted, just like the rich countries in the Middle East investing all over the world, they also set up a management system to manage the wealth of the entire island. funds to invest.

But you can imagine, how much investment experience can such a small island country dominated by aborigines have?Their main investment direction is to buy real estate around the world, including Australia and the United States, and it is conceivable that such a fortune will also be seen by those investment institutions, and thus be fooled into various unreliable investments. middle.

Therefore, the result of this island-wide wealth fund is that the net worth is constantly decreasing. In the end, due to helplessness, the Palu government can only take a slant.

At first they hoped to become offshore tax havens like Cayman and Bermuda, but this idea is too naive. Behind Cayman and the Virgin Islands is the United Kingdom, and behind Bermuda is the United States. You don’t love your mother or your mother. How can a small country that is still being taken advantage of by Australia all day allow you to do this.

于是2000年6月，七国集团反洗钱机构金融工作组将帕鲁列入洗钱黑名单。2002年12月20日，美利坚政府宣布开始对遏阻恐怖分子利用其银行体系洗钱不力的乌克兰与帕鲁采取惩罚措施。

In the end, several banks opened by Palu were forced to close in 2003 due to money laundering.

Now it's all right, but if you want to masturbate capitalist wool, Palu can only think of other ways.

Development of Tourism?However, because of the environmental damage caused by mining phosphate mines, it will take time to repair, so the tourism industry is not strong, which is better than nothing.

As a result, Palu can only do dirty work for Australia. Since 2005, Palu has accepted assistance from the Australian government. In return, Palu has established a detention center to deal with those refugees who entered Australia illegally.

Until now, Palu's life is getting worse and worse. In terms of investment, the commercial buildings purchased in the United States and the 52-story "Palu Tower" in Melbourne, Australia, are all in poor operation.

More than 30 years ago, it began to deposit a considerable part of the phosphate sales revenue in the bank so that future generations could live on interest-but the financial crisis in the late 90s and the subprime mortgage crisis this time made its deposits shrink sharply.

The most important thing is that the obesity rate in this country is extremely high, reaching an astonishing 95%. On the one hand, the reason is the problem of eating habits. After all, it is an island country, and the production is not much, and most of them have to be imported. Therefore, high-calorie foods have become eating habits; and The main reason is that people here live so comfortably that they don't need to work at all. Because of the rich phosphate mines, the people are almost always supported by the government.

This has led to the fact that even if the government pays all the tuition fees for the people, many people are too lazy to go to college, and it is impossible to work. In the end, they have nothing to do and can only play and eat. Most of the people are useless and have little skills.

And the Palu government's ability to govern is really poor, which leads to the fact that once the resources are exhausted and the world economic situation is not good, they will almost go bankrupt.

William Chen saw the recent news that the Palu government is ready to declare bankruptcy for the second time—their national fund belongs to all the people, the government can only manage it and cannot use it, and there are few taxes, so the government’s income was mainly from exports. Mineral taxation and tax avoidance business can only be maintained on weekdays by building prisons for Australia. When it comes to the subprime mortgage crisis, it will be difficult.

But even so, in Chen William's dream, he saw the volcanic eruption in Palu at that time, and the scale was still very terrifying. You can imagine that the 30-square-kilometer island can expand the sea area by more than ten times. How could that be? what a view.

Therefore, under this kind of disaster, the residents of the island are doomed not to be spared.It would be fine if William Chen didn't know about it. Now that he knew that this kind of thing would happen, he still had to help as much as possible within his ability.

You know, that was more than 1.2 residents, and the tsunami caused by the last volcanic eruption seemed to be of a huge scale.

But it also needs a method. If you directly tell them that there is a volcanic eruption here and move away quickly, then the other party will probably treat you as a psychopath, which is not bad.Like Chen William's identity, it is very easy for people to think that he has other purposes.

How about using geological research to find some relevant experts to detect the possibility of volcanic eruptions?Uh, please explain why you are interested in our country first.

However, when William Chen browsed the news about Palu and saw a report saying that when the Palu government was in crisis, some officials suggested selling the country, his eyes lit up. The country bought it?

First of all, if you really buy this country, you can ask all the current citizens to move away and make this island his private island.Then the 1.2 residents here can be saved. After all, this country has purchased a lot of real estate overseas before, and also established the Palu Building in Australia. When buying this country, the citizens will pay a share of the money, and then go to other countries to live. Enough.

For William Chen himself, this is equivalent to owning a sovereign country. You must know that although Palu is small, it is also a member of the United Nations. A sovereign country can do many things.

And the most important thing is that he knows from the eyes of the future that after this disaster, the area of ​​this island country has greatly expanded. It was only 30 square kilometers in the past, and then it has expanded more than ten times, to at least 500 square kilometers.

A comparison will show that the area of ​​HK in Huaguo is about 1100 square kilometers, consisting of three parts: Hong Kong Island, Kowloon Peninsula and the New Territories. After the disaster, Palau’s area is close to half of that of HK, and that is A piece of blank land can be planned by William Chen.

And the geographical location of Palu is not bad. It is in the South Pacific Ocean, less than 300 kilometers away from the nearest Papua New Guinea, and across Papua New Guinea is Australia, about 1600 kilometers away.

And Palu is not far from Indonesia, about 600 kilometers.

Thinking of this, William Chen felt that it was still very feasible.However, if you really want to do this, you still need to consult relevant experts. After all, William Chen is an American at this time. If he acquires a sovereign country, there will be many and complicated issues involved. Need to give up American citizenship?

You must know that in the United States, if you want to give up your nationality, you still have to face a lot of problems. The most important point is the abandonment tax.

In the past, there were many people who gave up American citizenship because of tax avoidance, but since 1996, in order to combat the abandonment of citizenship for the purpose of tax avoidance and make up for the loss of national wealth, FATCA (Foreign Account Tax Compliance Act of the United States) stipulates that anyone who meets the " If the definition of "abandoner" applies, a departure tax is payable.

The objects of the Abandonment Tax are those who meet any of the following three conditions and plan to renounce American citizenship:
First, the annual average net income tax over the 5 tax years prior to the date of renunciation exceeded the specified amount adjusted for inflation (approximately $2010 in 10);

Second, having a net worth of US$200 million or more on the date of renunciation;

Third, failure to fulfill all tax reporting obligations during the 5 years prior to the date of renunciation.

Therefore, in the case of William Chen, if he wants to give up his American citizenship, he must pay the abandonment tax. The tax rate of the abandonment tax is about 20%, and the higher the assets, the higher the tax rate.

Therefore, if William Chen renounces his American citizenship, the renunciation tax he needs to pay may break the historical record, which is at least a quarter of his net worth.

Regarding this matter, William Chen naturally couldn't make a rash decision. He had to find the top experts to study the whole plan and determine the most favorable strategy.

(End of this chapter)