| Introduction - Today we read about a
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| | estate in your own name, boats, planes,
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| large number of people from a variety of
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| | bank accounts etc? Nothing is different.
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| different countries going offshore. By
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| | People with large amounts of assets are a
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| going offshore we mean opening offshore
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| | target and they have every right to keep
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| bank accounts, forming offshore companies
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| | there financial affairs as private as
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| and offshore foundations in tax haven
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| | possible and in many countries it is
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| countries. Some are even opening offshore
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| | essential to their health.3) Kidnapping -
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| stock trading accounts. This sort of
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| | In many countries kidnapping victims are
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| activity and gets a lot of people
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| | selected based on real estate holdings.
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| wondering why all this sudden excitement
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| | The advantages to putting real estate in
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| over offshore banking and offshore
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| | the name of an anonymous Panama bearer
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| corporations. We'll try to provide some
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| | share corporation are obvious. When
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| answers.Taxes - Most people think the
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| | people look up the real estate they can
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| rush to go offshore is to avoid taxation
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| | not tell who the natural persons are
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| which would in their minds explain why
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| | behind the corporation that owns the real
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| most are going to tax haven countries to
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| | estate. In Panama the owners of the stock
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| form their offshore corporations and open
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| | of a bearer share corporation do not
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| their offshore bank accounts. A tax haven
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| | appear in any public registry or
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| country is a country where offshore
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| | database. When it comes time to sell the
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| derived income is not taxed. The
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| | real estate the corporation that owns the
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| jurisdiction will usually look towards
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| | real estate is sold, not the real estate.
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| taxation on imported goods to derive
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| | This prevents would be kidnappers from
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| their tax base. Generally a tax haven
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| | following real estate sales reports to
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| jurisdiction such as Panama will also not
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| | look for potential victims thus
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| have any capital gains tax, no
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| | protecting the subsequent owner. The same
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| inheritance tax and corporate taxes are
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| | applies to the ownership of a yacht or an
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| generally fixed in the form of a few
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| | airplane. Another popular method of
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| hundred dollars that is paid each year as
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| | determining who is a good kidnapping
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| the filing fee for the corporation. Some
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| | victim is to have a bank employee on the
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| countries allow people to earn money when
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| | payroll who scours through the files at
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| offshore or out of their country tax free
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| | the bank finding wealthy people for you.
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| and other countries allow for partial
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| | If you live in one country and bank say
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| exemptions and others offer no break of
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| | in Panama this doesn't work very well
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| any sort. We do feel that people are
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| | since the kidnappers would need to
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| going offshore for reasons other than tax
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| | cultivate bank employees in Panama who
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| avoidance or minimization. We often see
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| | could isolate victims for them in their
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| large corporations are shifting their
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| | own country. This narrows the field quite
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| activities outside of their home country
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| | a bit especially when you take into
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| for reasons other than taxation although
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| | account that in Panama a bank employee is
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| taxation is probably in there as a
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| | risking a felony to violate bank secrecy
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| determining factor as well. Their
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| | which is far from the case in many other
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| operating expenses are so high there is
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| | countries that routinely complain about
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| precious few net profit dollars left to
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| | bank secrecy and offshore
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| be taxed. These companies are trying to
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| | jurisdictions.4) Identity Theft - Of
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| stay competitive in their market and are
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| | course the prime identity theft target is
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| choking on the expenses associated with
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| | one who has wealth and thus is capable of
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| employee wages, employee benefits,
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| | carrying large amounts of credit. With
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| employee medical plan premiums,
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| | generally non existent bank privacy let
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| litigation insurance premiums,
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| | alone secrecy in many countries
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| discrimination lawsuits, unjust
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| | scoundrels are free to roam through
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| termination lawsuits, retirement
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| | credit reports with bank details, credit
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| benefits, disability insurance premiums,
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| | card details etc and plan a devastating
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| unemployment insurance premiums, and
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| | identity theft attack. These crooks even
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| standards for health and safety imposed
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| | order private detective reports on their
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| by their respective governments in the
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| | victims to really learn as much as they
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| workplace which then brings us to high
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| | can about them. Of course the public
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| costs associated with office space. Few
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| | records databases are all too
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| if any of these expenses follows the
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| | accommodating providing details like
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| large corporation when they move
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| | drivers license records, who owns the
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| offshore. Taxes tend to come into play
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| | loan on their house, cars, boats etc,
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| but that is only one small piece of the
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| | what credit cards they have and so forth.
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| equation.Today we see a large amount of
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| | Credit bureau secrecy is non-existent as
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| phone rooms coming to Panama. These are
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| | evidenced by the vast amount of identity
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| usually not new jobs being created; they
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| | theft and credit card fraud. Offshore
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| are jobs moving to Panama from other
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| | banks in Panama and other offshore
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| countries. These jobs are generally
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| | privacy jurisdictions due to bank secrecy
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| customer service jobs, support jobs and
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| | do not report to any credit bureaus. If
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| soft sales jobs where the salesperson
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| | you do not need credit why have regular
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| offers more explanation than sales
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| | credit cards. Use offshore bank debit
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| pressure. The companies tend to save in
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| | cards that just sweep the money directly
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| many ways enabling them to be competitive
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| | out of your bank account and thus you
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| and offer a competitive level of service
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| | stay private with how much you spend and
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| to their customers. Of course the effect
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| | how much credit you have not appearing in
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| of companies moving from the large North
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| | any credit reports. The history of your
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| American and Western European countries
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| | purchases would also be immensely harder
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| is damaging to say the least to those
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| | for say a private detective to get from
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| economies they are departing from.Privacy
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| | an offshore bank; they seem to have no
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| Concerns - Let us look at some of the
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| | trouble getting this date from regular
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| reasons why people move their assets to
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| | banks in many countries.5) Frivolous
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| an offshore tax haven that is also a
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| | Litigation - In many countries lawyer can
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| privacy haven like Panama.1) Tax Haven
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| | operate on contingency and like to sue
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| Status - These people already under the
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| | those who have deep pockets. The best way
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| burden of taxation from many of their
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| | to see how deep persons pockets are is to
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| home countries do not want additional tax
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| | run an asset check on them. If their
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| burdens. Contrary to popular belief most
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| | assets are all private like they bank in
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| of the money moving offshore has already
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| | bank secrecy jurisdictions like Panama,
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| been taxed by the various home countries
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| | have real estate owned by anonymous
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| and if there are additional taxes it
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| | Panama Foundations or anonymous Panama
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| would be too burdensome. They want to be
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| | Corporations then the asset check will
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| free of additional taxes.2) Privacy -
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| | come back low on assets, probably too low
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| People like to be as private as possible
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| | to invest a lot of time and money in
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| in their financial affairs. How many of
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| | frivolous litigation. This also keeps the
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| you would stroll through any major city
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| | persons assets free of pre-trial
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| of the world today openly displaying a
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| | attachment which is a favorite trick of
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| solid gold Rolex full of diamonds along
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| | unethical attorneys that is allowed in
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| with a nice large diamond ring? Not too
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| | most of these non-privacy
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| many! Why? Because you do not want to run
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| | jurisdictions.6) Privacy - Some people
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| the risk of becoming a victim of robbery
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| | just want to keep their affairs private
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| or assault. So what do you think is
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| | and they should be able to do just that.
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| different about having expensive real
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