Chapter 260： Buy Palu?
Although Palu had a good time, you must know that the phosphate mines in their country were formed due to the droppings of birds for thousands of years, and they will always be mined one day. 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 current Middle East tyrants investing in the world, they also set up a management system to manage the wealth of the island. funds to invest in.
But as you can imagine, how much investment experience can such a small island country dominated by indigenous people have? Their main investment direction is to buy real estate all over the world, including Australia and the United States, and it is conceivable, so A piece of wealth will also be seen by those investment institutions, and thus be fooled into various unreliable investments.
Therefore, the result of this island-wide wealth fund is that the net worth continues to decrease. In the end, due to helplessness, the Palu government can only take a slant.
At first, they hoped to become an offshore tax haven like Cayman and Bermuda, but this idea was too naive. Behind Cayman and the Virgin Islands is the United Kingdom, and behind Bermuda is the United States. How can a small country that is still taking advantage of Australia all day allow you to do this.
So in June 2000, the Financial Working Group of the Group of Seven anti-money laundering agency listed Palu on the money laundering blacklist. On December 20, the U.S. government announced that it would start taking punitive measures against Ukraine and Palu, which have failed to deter terrorists from using their banking systems to launder money.
In the end, many of the banks that Palu opened abroad were forced to close in 2003 for engaging in money laundering.
Now that it's all right, if you want to get rid of capitalism's wool, Palu can only think of other ways.
Develop tourism? But because of the environmental damage caused by mining phosphate mines, it takes time to repair, so tourism is not strong, and it is better than nothing.
As a result, Palu can only do dirty work for Australia. Since 2005, Palu has accepted the assistance of the Australian government, in return Palu established a detention center to deal with those refugees who entered Australia illegally.
From now on, Palu's life is getting worse and worse. In terms of investment, commercial buildings purchased in the United States and in Australia
Sub-Melbourne City invested heavily in the construction of the 52-storey "Palu Building", which was not operating well. +-
More than 30 years ago, a substantial portion of the proceeds from phosphate sales was banked to allow future generations to live off interest—but the financial crisis of the late 1990s and the subprime mortgage crisis this time around have shrunk their deposits significantly.
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 with not much production, and most of it has to be imported. Therefore, high-calorie food has become a dietary habit; The main reason is that the people here are so comfortable that they don't need to work at all. Because of the rich phosphate mines, the people are almost kept by the government all the time.
This has also caused many people who are too lazy to go to university even if the government pays all the tuition fees of the people, and it is even impossible to work. In the end, they have nothing to do but eat while they play. Most of the people are useless and have little skills.
And the governance ability of the Palu government 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.
Chen William saw the recent news that the Palu government is ready to declare bankruptcy for the second time - their national fund belongs to the whole people, the government can only manage and cannot use it, and the tax revenue is low, so the government revenue was mainly derived from exports before. The taxation and tax avoidance business of minerals can only be maintained by building prisons for Australia on weekdays. When the subprime mortgage crisis occurs, it will be difficult.
But even so, in Chen William's dream, the scale of the volcanic eruption in Palu was still very terrifying. You can imagine that the 30-square-kilometer island and the sea area can be expanded more than ten times. kind of scenery.
Therefore, under this kind of disaster, the inhabitants of the island are destined not to be spared. If Chen William didn't know it, it would be fine. Now that he knows that this kind of thing will happen, he still has to help as much as possible within his ability.
You know, that's more than 12,000 inhabitants, and the tsunami caused by the last volcanic eruption looks huge. But it also needs methods. If you go directly to tell them that there is a volcano erupting here and move out quickly, then it is estimated that the other party will treat you as a lunatic, which is not bad. Like Chen William's identity, it is very easy for people to think that he has no other purpose.
How about using geological research to find some relevant experts to detect the possibility of volcanic eruptions? Well, first explain why you are interested in our country.
However, when William Chen browsed the news about Palu, he saw a report saying that when the Palu government was in crisis, some officials suggested selling the country, his eyes lit up, if.... Where did Lu this country buy it?
First of all, if you really buy the country, you can ask the current nationals to move out and make the island his private island. Then you can save the 12,000 residents here. After all, this country has purchased a lot of real estate overseas before, and also built the Palu Building in Australia. When you buy this country, the citizens will pay a cent, and then go to other countries to live. Enough.
For Chen William himself, this is equivalent to having a sovereign country. You must know that although Palu is small, he is also one of the member states of the United Nations. A sovereign country can do a lot of things.
And most importantly, he knew from the eyes of the future that after this disaster, the area of this island country was greatly expanded. Originally, it was only 30 square kilometers. After that, the area expanded tenfold, to at least 500 square kilometers.
A comparison shows that the HK area of Huaguo is about 1,100 square kilometers, consisting of Hong Kong Island, Kowloon Peninsula and the New Territories, while Palau after the disaster is nearly half the size of HK, and that is A blank piece of land can be planned by William Chen.
And Palu's geographical location is also good, in the South Pacific, less than 300 kilometers 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, Chen William 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 are many and complex issues involved, such as whether it is necessary to Need to renounce American citizenship?
You know, in the United States, if you want to renounce your citizenship, there are still big problems you need to face. The most important point is the renunciation tax.
In the past, there were many people who renounced American citizenship for tax avoidance, but since 1996, in order to crack down on renunciation for the purpose of tax avoidance and make up for the loss of national wealthAmerican Overseas Account Tax Compliance Act) regulations , those who meet the definition of "applicable abandoners" are required to pay departure tax.
The object of the renunciation tax is the person who meets any of the following three conditions and intends to renounce American citizenship:
First, the average annual net income tax exceeded the specified inflation-adjusted amount (about $100,000 in 2010) for the five tax years preceding the date of abandonment;
Second, at the date of renunciation of citizenship, net worth is $2 million or more;
Third, failing to fulfill all tax filing obligations within the 5 years preceding the date of renunciation.
Therefore, in the case of William Chen, if he wants to give up his American nationality, 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 Chen William renounces his American citizenship, the tax he needs to pay for abandoning his citizenship will probably break the historical record, at least about a quarter of his net worth.
Regarding this matter, Chen William naturally cannot make a rash decision. He must find the top experts to study the entire plan and determine the most beneficial strategy.
In fact, when they were first rich, the leaders of Palu did not think that when the phosphate mines were exhausted, just like the current Middle East tyrants investing in the world, they also set up a management system to manage the wealth of the island. funds to invest in.
But as you can imagine, how much investment experience can such a small island country dominated by indigenous people have? Their main investment direction is to buy real estate all over the world, including Australia and the United States, and it is conceivable, so A piece of wealth will also be seen by those investment institutions, and thus be fooled into various unreliable investments.
Therefore, the result of this island-wide wealth fund is that the net worth continues to decrease. In the end, due to helplessness, the Palu government can only take a slant.
At first, they hoped to become an offshore tax haven like Cayman and Bermuda, but this idea was too naive. Behind Cayman and the Virgin Islands is the United Kingdom, and behind Bermuda is the United States. How can a small country that is still taking advantage of Australia all day allow you to do this.
So in June 2000, the Financial Working Group of the Group of Seven anti-money laundering agency listed Palu on the money laundering blacklist. On December 20, the U.S. government announced that it would start taking punitive measures against Ukraine and Palu, which have failed to deter terrorists from using their banking systems to launder money.
In the end, many of the banks that Palu opened abroad were forced to close in 2003 for engaging in money laundering.
Now that it's all right, if you want to get rid of capitalism's wool, Palu can only think of other ways.
Develop tourism? But because of the environmental damage caused by mining phosphate mines, it takes time to repair, so tourism is not strong, and it is better than nothing.
As a result, Palu can only do dirty work for Australia. Since 2005, Palu has accepted the assistance of the Australian government, in return Palu established a detention center to deal with those refugees who entered Australia illegally.
From now on, Palu's life is getting worse and worse. In terms of investment, commercial buildings purchased in the United States and in Australia
Sub-Melbourne City invested heavily in the construction of the 52-storey "Palu Building", which was not operating well. +-
More than 30 years ago, a substantial portion of the proceeds from phosphate sales was banked to allow future generations to live off interest—but the financial crisis of the late 1990s and the subprime mortgage crisis this time around have shrunk their deposits significantly.
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 with not much production, and most of it has to be imported. Therefore, high-calorie food has become a dietary habit; The main reason is that the people here are so comfortable that they don't need to work at all. Because of the rich phosphate mines, the people are almost kept by the government all the time.
This has also caused many people who are too lazy to go to university even if the government pays all the tuition fees of the people, and it is even impossible to work. In the end, they have nothing to do but eat while they play. Most of the people are useless and have little skills.
And the governance ability of the Palu government 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.
Chen William saw the recent news that the Palu government is ready to declare bankruptcy for the second time - their national fund belongs to the whole people, the government can only manage and cannot use it, and the tax revenue is low, so the government revenue was mainly derived from exports before. The taxation and tax avoidance business of minerals can only be maintained by building prisons for Australia on weekdays. When the subprime mortgage crisis occurs, it will be difficult.
But even so, in Chen William's dream, the scale of the volcanic eruption in Palu was still very terrifying. You can imagine that the 30-square-kilometer island and the sea area can be expanded more than ten times. kind of scenery.
Therefore, under this kind of disaster, the inhabitants of the island are destined not to be spared. If Chen William didn't know it, it would be fine. Now that he knows that this kind of thing will happen, he still has to help as much as possible within his ability.
You know, that's more than 12,000 inhabitants, and the tsunami caused by the last volcanic eruption looks huge. But it also needs methods. If you go directly to tell them that there is a volcano erupting here and move out quickly, then it is estimated that the other party will treat you as a lunatic, which is not bad. Like Chen William's identity, it is very easy for people to think that he has no other purpose.
How about using geological research to find some relevant experts to detect the possibility of volcanic eruptions? Well, first explain why you are interested in our country.
However, when William Chen browsed the news about Palu, he saw a report saying that when the Palu government was in crisis, some officials suggested selling the country, his eyes lit up, if.... Where did Lu this country buy it?
First of all, if you really buy the country, you can ask the current nationals to move out and make the island his private island. Then you can save the 12,000 residents here. After all, this country has purchased a lot of real estate overseas before, and also built the Palu Building in Australia. When you buy this country, the citizens will pay a cent, and then go to other countries to live. Enough.
For Chen William himself, this is equivalent to having a sovereign country. You must know that although Palu is small, he is also one of the member states of the United Nations. A sovereign country can do a lot of things.
And most importantly, he knew from the eyes of the future that after this disaster, the area of this island country was greatly expanded. Originally, it was only 30 square kilometers. After that, the area expanded tenfold, to at least 500 square kilometers.
A comparison shows that the HK area of Huaguo is about 1,100 square kilometers, consisting of Hong Kong Island, Kowloon Peninsula and the New Territories, while Palau after the disaster is nearly half the size of HK, and that is A blank piece of land can be planned by William Chen.
And Palu's geographical location is also good, in the South Pacific, less than 300 kilometers 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, Chen William 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 are many and complex issues involved, such as whether it is necessary to Need to renounce American citizenship?
You know, in the United States, if you want to renounce your citizenship, there are still big problems you need to face. The most important point is the renunciation tax.
In the past, there were many people who renounced American citizenship for tax avoidance, but since 1996, in order to crack down on renunciation for the purpose of tax avoidance and make up for the loss of national wealthAmerican Overseas Account Tax Compliance Act) regulations , those who meet the definition of "applicable abandoners" are required to pay departure tax.
The object of the renunciation tax is the person who meets any of the following three conditions and intends to renounce American citizenship:
First, the average annual net income tax exceeded the specified inflation-adjusted amount (about $100,000 in 2010) for the five tax years preceding the date of abandonment;
Second, at the date of renunciation of citizenship, net worth is $2 million or more;
Third, failing to fulfill all tax filing obligations within the 5 years preceding the date of renunciation.
Therefore, in the case of William Chen, if he wants to give up his American nationality, 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 Chen William renounces his American citizenship, the tax he needs to pay for abandoning his citizenship will probably break the historical record, at least about a quarter of his net worth.
Regarding this matter, Chen William naturally cannot make a rash decision. He must find the top experts to study the entire plan and determine the most beneficial strategy.
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