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8 years ago

Capital Controls - U.S.

8 years ago
For those individuals still "shopping" for a place to relocate, be aware that increasing capital controls continue to be put in place around the world.

Germany is the latest:
http://www.zerohedge.com/news/2016-02-03/germany-unveils-cash-controls-push-ban-transactions-over-%E2%82%AC5000-%E2%82%AC500-euro-note

Argentina - https://www.sovereignman.com/finance/this-is-what-textbook-capital-controls-look-like-10813/

Greece - http://www.bbc.com/news/business-33303540

Explanation of Capital Controls - http://www.internationalman.com/articles/capital-controls-are-coming

I had to do a wire the other day & luckily because of our relationship with our banker, things went smoothly but he shared that the bank has received information that there is a significant increase in email wire fraud so additional scrutiny & "checks" have been instituted.

When I have talked to people looking to make the move, I have encouraged them to allow sufficient time to get themselves, their assets & their belongings here. This process could take a few months, even if you are focused & goal-oriented & a "make it happen" kind of person.

The Baltic Dry Index is at an all-time low which means international shipments are taking longer than they have previously. You should do due diligence to find out from your relocation company how long it is likely to take for your container to arrive here. For us last summer, it took approx. 1 month from the U.S. With the slow down in the shipping industry, I would not be surprised to learn that this time frame may have doubled.

Regardless, just a word of advice to be aware of the hour. Not to create fear but to help those of you looking to relocate with a realistic timeframe for making the move happen. I do expect to continue to see the Baltic Dry Index worsening so the time to get your container here will most likely continue to increase as we move further into 2016.

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