Exit strategy is very important; recently a producer from MSNBC contacted me about the disappearance of Patrick McDermott wanting to know if it was possible if he just disappeared. Anything is possible; however, just walking away is unlikely. If you are looking to move on, disappear or simply start over you need a good exit strategy.
For several years, I have been giving advice on how to disappear. I receive emails from many people with questions ranging from property information to medical questions. When you break it down disappearing is simply starting over again, no different then loading that U-haul and having a checklist at hand.
MONEY & JOB
First thing, you have to determine is how you are going to make money when you get to your predetermined location. If you are a bartender, waiter or cabana boy most likely, you will be able to get a job off the books and keep yourself under the radar. If you got tons of dough and plan on day trading or swing trading your even in better shape. Since you can set up offshore corporations and trading accounts easily and legally.
It is important you research your location for job opportunities as well as the legalities of an expatriate working in the country. Some countries appear inexpensive to live in, keep in mind there is a reason why. Typically, the wages paid and the comforts of home are not up to par as in the US. This does not mean you will not find yourself an offshore haven, just tread carefully.
PROPERTY
When buying that new condominium, house or beachfront properties there are important questions you need answered. Is there a transfer tax? When does it need to be paid and in what currency? The beachfront land, find out if electric and water can be ran there. What are your rights if you leave for two months and come back and there are squatters occupying your new home? Find out what types of property insurance is available, if any.
Do not buy anything sight on seen, like some great piece of property advertised for ten grand. If you have not been, there you have not seen what is down the block or across the street. Certain countries offer bargains, keep in mind if it is too good to be true it usually is. Resale value is not always, what it appears.
DEBT
What and who are you leaving behind depends on your exit strategy. Are you simply looking for a new life and escaping the EX? If so, tidy up your affairs and get rolling. You do not want to leave bad credit behind; you may have to come back someday. Do the best you can to pay what needs to be paid. Remember FICO is a four-letter word that can really catch up with you in time and make life miserable if not handled properly.
When I work with clients who want to disappear some of them desire to trash their credit, not pay off their electric and leave the bills unattended. Big mistake, look where you were five years ago, you probably did not think you were going to be thinking about disappearing today. You do not know what your situation will be like in five years from now. Life is a rolling ball; you could meet someone new and make your way back into the realm of society.
Some of my clients have fled because of debt, I suggest they deal with it properly, file bankruptcy, arrange with creditors. Do not toss your bills into the wind; remember some skip tracer might find you in your offshore haven.
MEDICAL
Medical and pharmaceutical is very important, search the country you are going to, do their pharmacies carry your prescriptions. If you have a particular medical condition, can the local hospital aid you if needed, what would they do if they can‘t. Your new doctor, what are their credentials and are they well versed in your particular condition.
TELEPHONE
Is phone available in your new house on the beach? What is the cost of long distance and is cellular service available.
INTERNET
If you are reading this, you obviously have internet service. Find out if dial up is available and cost. If you have an internet business and need fast speed service is it available.
TELEVISION
Is cable TV or satellite service available?
SHIPPING & MAIL
What type of mail system or shipping is available in your area? What if you are buying furniture, how can they get it to you? If something is being shipped from the states can it get to you?
BANKING
If you are doing offshore banking, some important issues you need to know are bank fees. Some offshore banks charge inflated prices and take longer then usual to clear funds.
FOOD
Before you buy that property take a stroll to the supermarket, see what they have. I have been to places where the supermarket did not have great supplies. Then again I have been to places where everything was available.
SECOND PASSPORTS
I get questions about second passports a lot. My answer is simply they are use full for types of identification intra-country in South or Central America but I would not try crossing a US, Canadian or European border with one.
MOST IMPORTANT
Read, read, read about offshore living from sites such as this.
The above are a few thoughts one should consider if leaving or disappearing. Good luck and enjoy your new life, remember a little offshore living is a good thing but a lot of beach living is a better thing.
Frank M. Ahearn
www.disappear.info
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