In early April I took a Eurail\/backpacking trip solo through Western
\n Europe. I had the opportunity to travel throughout Switzerland. I gained
\n a great deal of knowledge about Swiss bank accounts and procedures for
\n securing greater financial privacy. I also passed through the tiny independent
\n Principality of Monaco on the French coast near the Italian border.<\/p>\n
While in Spain I visited the Andorra Tourist Office in Barcelona. It
\n is located in the mall area of a prominent office complex at the Port
\n of Barcelona. Andorra is located at the very top of the Pyrenees Mountains
\n between Spain and France. It recently won its independence from France
\n and Spain and has since become a tax haven for many Spaniards and other
\n Europeans. Tourists often make a trek to Andorra, 2 hours by train from
\n Barcelona, to purchase duty free goods.<\/p>\n
But it was the discovery of yet another tiny tax haven on the Swiss\/Italian
\n border that really caught my attention.<\/p>\n
Anyone who has ever flown into the Airport at Omaha, Nebraska has had
\n the experience of having to pass through a tiny strip of Iowa after they
\n leave the airport, to get to the city of Omaha. Carter Lakes, Iowa is
\n a geographic anomaly. The town is completely isolated from the rest of
\n the State of Iowa, surrounded by a lake on one side and Nebraska on the
\n other.<\/p>\n
Like Iowa, Italy has its own Carter Lakes anomaly in the Alps. Campione
\n D'Italia is completely surrounded by the Lake of Lugano on one side,
\n and the Italian-speaking Swiss Canton of Ticino on the other. The closest
\n point on the Italian border is 11 kilometres away. But the Village has
\n been a part of the Italian State of Lombardy (also home to nearby Milan),
\n for over 7 Centuries.<\/p>\n
It is relatively easy to get to Campione. Just take one of the wonderful
\n Swiss trains from Geneva, Basel, or Zurich to Lugano. From Lugano it's
\n just a ten minute ride in a taxi or a rent-a-car to Campione. Or, it's
\n a 45 minute ride – all highway – from Milan.<\/p>\n
Its isolation from Italy has given it a very unique status. It is almost
\n like being in another country. It is similar to Monaco in that the town
\n sits on a very narrow strip of coastline surrounded by cliffs. It even
\n looks like Monaco with a Casino, boat docks, and a small palm-lined beach.
\n The population of the town is just over 3,000. The total area is 1.7 square
\n kilometres. Italy administers local governmental functions. However, Campione
\n uses the Swiss banking system, currency, and post office.<\/p>\n
It is their system of taxation that outsiders, particularly for those
\n who are interested in financial privacy, may find of greatest interest.
\n Basically, there are no taxes. Campione's only Casino makes enough
\n revenue to support the town. Residents do not pay local municipal taxes,
\n Italian income or VAT (Value Added) taxes, nor are they subject to the
\n onerous taxation from Switzerland.<\/p>\n
What's the catch?<\/p>\n
Establishing residency in Campione is a little difficult. I speak fluent
\n Italian. So, I was able to converse with some of the locals. They are
\n a little suspicious of outsiders, with the exception of visitors to the
\n Casino. They even seem to be a bit secretive about Campione and it's
\n unique status. They have a good deal and they want to keep it that way.
\n For example, it is not easy to purchase land in Campione or even an apartment,
\n which is the only way to gain residency. Real estate is quite expensive.
\n Though, if you are able to purchase a little land you will receive automatic
\n residency. They say that about 1,000 foreigners now live in Campione taking
\n advantage of its unique opportunities for avoiding taxes and corporate
\n protections.<\/p>\n
Libertarians and other financial privacy seekers have searched the world
\n for attractive havens such as Campione. Purchasing a plot of land in the
\n town could prove quite pricey. But this could be a very attractive option
\n for a joint venture?<\/p>\n
Note – Eric Dondero R. is the author of the “Worldwide Multilingual
\n Phrase Book” – www.portsidelanguages.com. He is an interpreter in
\n Houston and speaks over 20 languages. He is also active in libertarian
\n politics and is an avid proponent of global freedom.<\/p>\n
In early April I took a Eurail\/backpacking trip solo through Western Europe. I had the opportunity to travel throughout Switzerland. I gained a great deal of knowledge about Swiss bank…<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false,"css_class_manager_body_classes":"","css_class_manager_use_in_post_loop":false},"categories":[2,3],"tags":[52],"class_list":["post-502","post","type-post","status-publish","format-standard","hentry","category-archive","category-main-article","tag-may-2002"],"yoast_head":"\n