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Offshore Investments The world of offshore investments can mean anything from investing in real estate, stocks, bonds, businesses, HYIP’s, and other high yield investments that are not HYIP’s. One thing to remember is that when you invest offshore, you should use the same common sense that you would use back home. We have a separate investment section of this Member’s Area, so we will not deal with specifics here. We will deal with some basics so that you will be knowledgeable in this area. I have been in Costa Rica now for many years, and it is amazing that when some people get off the plane, they just go WILD. I really don’t know what gets into these people, but the term for it is “sunshine syndrome.” Typically, these people have read a hyped up guide book about how Costa Rica is a tropical paradise, and, for some reason, they think everything and everyone they talk to here is GOOD. They don’t realize that there are just as many bad people as back home, and that the term “buyer beware” is important here too. I could give many examples, but let me give one from real estate since we do not deal with real estate in any of our other pages. What I write about Costa Rica could apply to other locations you might think of investing in, especially if they are in Latin America. But it is a good idea, no matter what country you choose, to get to know what is going on first before you buy one inch of the country. In Costa Rica, they have rural land, they have land in the city, and they have land at the beach, and different rules can apply to each kind of land. For example, in the countryside, there is a problem with squatters. Basically, if someone lives on a piece of property for a specified period of time [which I don’t remember off hand] in the countryside, then they can claim title to said piece of property. Even before this period has expired, it can be next to impossible to get the squatters off the land. In some really remote areas of the country, the squatters have organized, and, if you are not careful, you could find an entire VILLIAGE camped out in your rolling country acres, and it might take you years to get rid of them. Some of these confrontations have become violent in the past, with some squatters and landowners dying in the process. Mostly, this problem occurs where you have an absentee owner. So, it is a good idea if you don’t plan to live on the property yourself for extended periods to hire a caretaker to look after your property for you. But you need to be careful and have a legal contract with the caretaker, because he could turn around and become a squatter himself if you are not careful. Also, if someone wants to sell you their land that has been invaded by squatters, insist that the squatters be gotten rid of first or they have no deal. Be sure that you hire a reputable and competent lawyer for any real estate or business purchase transaction. Don’t feel shy about asking around, because in many places, like Costa Rica, about 70% of the lawyers seem to be deficient in one way or another. This is definitely not an area where you want to pinch pennies. Different rules apply to city land, and there is a special zone near the beaches called the Maritime Zone where you cannot buy the property at all, but only lease it. So you need to familiarize yourself with the local situation regardless of the country you decide to buy real estate in, and definitely don’t take a realtor’s word for anything. Remember, the realtor works for the seller, not the buyer. NEVER FORGET THAT! Returning to our discussion of the sunshine syndrome, many gringos [that’s anyone who is not Latino or black] come to Costa Rica with their pockets bulging with cash and in a few short months they return home broke. And they thought THEY were the sophisticated ones who would teach the local rubes a lesson or two. Well, someone learned a lesson and most of the time it is the unsuspecting gringo who learns. Properties have been known to have been sold to multiple buyers, some have been sold by someone who was only a part owner, and others have clouds on title that don’t appear in the Registry. The same can be said when you are buying a business in a country not your own. You had better beware. Rules can be crazy, and he or she might be selling because they lost an important license or their lease is about to expire! Investments can be even more tricky. Several years ago, lots of investors were taken for a ride by some slick operators selling “teak plantations.” The sunshine syndrome is definitely something you should watch out for, because it has destroyed more than one unsuspecting new “offshore investor.” There are many good opportunities to be had offshore, for sure, but you need to orient yourself first, take off the blinders, ignore the hype, and get to the facts. And you need to get to those facts no matter how long it takes. Below you will find links related to offshore investing. The world is much bigger than you may have thought, and it is important to educate yourself first, lest you end up with squatters on your dream ranch, or buy a house already sold to five other people, buy a business with no license, or some other nightmare that could have been avoided. RESOURCE LINKS Offshore Glossary and Investment links Trust Company of St. Martins Cyberhaven –You can even invest your IRA offshore and more. Programmes for Wealth International The Standard & Poor’s Guide to Offshore Investment Funds Escape Artist Investment Links NOTE: this is obviously not an extensive list, but it offers you some good jumping off points and examples of what to look for. You need to learn to distinguish between legitimate offers and those that aren’t. We do not vouch for the above sites, but they provide useful resources or examples for your search. We will be adding to this page periodically.