Ted Baumann is International Living’s Chief Global Diversification Expert. He's traveled to nearly 90 countries and is a dual citizen of the United States and South Africa. Born in Washington DC, he grew up on Maryland's Eastern Shore.
As a young man he moved to Cape Town, where he attended university, earning postgraduate degrees in economics and history. For the next 20 years he worked in the global non-profit sector, specializing in urban development. From 2008 to 2013, he served as Director of International Programs for Habitat for Humanity International. After that he switched gears, writing financial and wealth protection newsletters for affiliates of Agora Publishing.
Ted has been published in international research journals, as well as media outlets such as Barrons, Forbes and Cheddar. He co-authored Where to Stash Your Cash (Legally) with his father and former U.S. Congressman, Robert Bauman.
Linda L. Says: What is involved in establishing an overseas savings or checking account and what are the ramifications stateside? IL Global Diversification Expert Ted Baumann Says: Normally, to open a bank account in a foreign country you must have an ongoing connection with that country, typically some form of property ownership or residence. (Ironically, Read more...: How do I Open an Overseas Bank Account?
Peter C. Says: Hi Ted, I have a great-grandfather who was born a citizen in Ireland. Does that qualify me for an Irish passport? Thanks, and stay safe! IL’s Chief Global Diversification Expert, Ted Bauman Says: Hi Peter, Remarkably, with a population of just under 5 million, Ireland currently has at least 4 million official Read more...: Does My Irish Great Grandfather Qualify Me for an Irish Passport?
John M. Says: Hi Ted, I read your email yesterday and it’s interesting since I have European heritage. But are you sure it’s legal for an American citizen to have a passport from another country? IL’s Chief Global Diversification Expert, Ted Bauman Says: Hi John, Thanks for writing in! I understand your concern. To most Read more...: Is it Legal to Have a Second Passport?
Do I need a lawyer or similar to help me get a second passport?
For a limited period, you can now get yourself a second passport more cheaply than you’d ever imagined. What’s more, your additional citizenship can be to one of a number of heavenly Caribbean island nations.
I had heard the stories. About a country where U.S. citizens could secure easy residence, a second passport, and open a safe bank account without even acquiring residence. Well, the stories are true. Based on my travels across the world and my visits to Uruguay, I place this country near the top of my list of livable countries. That is mostly because of its friendly people, but also because it accords everyone the freedom to live in peace as they wish. In addition to having no restrictions on foreigners’ individual ownership of land, it’s one of the only countries on the planet whose constitution guarantees foreigners the right to live there, and to become citizens.
Have you ever thought of offshoring to protect your wealth? If so, you are among the growing number of U.S. citizens looking to do this. And I’m going to let you in on one of the best offshore strategies out there—one that can do what no other offshore strategy can.
The debt-ridden U.S. government is desperate to keep your money inside the country. That’s why the government will always be spreading misinformation…such as the lie that offshore asset protection is dead. The truth is that, for U.S. citizens and permanent residents, the offshore option is alive and kicking. It’s never been a more necessary part of your personal wealth preservation plan than right now. It’s also never been easier.
When it comes to taking your life and assets offshore, few tools are more valuable than a second passport. I have one, and it makes my life easier in many ways. For example, I am able to enter Brazil and several other countries on my second passport (South African) visa-free, since Brazil requires visas for U.S. passport holders. And when I go to certain countries—ones that aren’t big fans of the U.S.—using my second passport helps me avoid attention.
For U.S. citizens looking to retire overseas, one of the main concerns is their tax obligations. How will the big move affect the taxes they have to pay? And will they still be able to access their retirement income overseas without difficulty? By and large, these issues are more straightforward than you might expect.