Set Your Business Up With Bitcoin Unit of Account with Luke Thibodeau, CFO of Prospera SLP585
Jun 22, 2024
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Luke Thibodeau, CFO of Prospera, discusses using Bitcoin as a unit of account, setting up a business in Roatan, ZEDE law situation, leaving Canada, and the benefits of relocating to special economic zones. They explore regulatory environments, tax advantages in Honduras, and the integration of Bitcoin into Prospera's ecosystem.
Bitcoin can function as a unit of account for businesses
Life in Prospera offers resort-like amenities and strong community focus
Prospera's tax system provides simplicity and transparency for businesses operating within the jurisdiction
Deep dives
Innovation Through Free Private Cities and Private Governance Models
Free Private Cities offer innovative private governance models that provide alternatives to traditional governance structures. The concept explores the idea of private cities where individuals can benefit from better governance systems. These models aim to address the inefficiencies and limitations of current governance systems, allowing for more sovereignty and stability in decision-making.
Life in Prospera: Amenities and Community Building
Life in Prospera, located on the island of Roatan, offers a resort-like community with amenities such as a golf course, hotel, private beach club, and scuba diving facilities. Residents emphasize building a strong community, especially important for families, to create a supportive and interactive environment. The transition to island life involves adapting to a more deliberate shopping approach and limited access to immediate goods, requiring residents to plan and connect with local suppliers.
Taxation and Regulatory Framework in Prospera
Prospera's tax system includes a 5% personal tax on income, a 1% business tax on revenue, a 2.5% value-added tax, and a 1% land value tax. Capital gains tax does not apply within the jurisdiction. The straightforward tax structure offers simplicity and transparency, with minimal bureaucracy and no complicated deductions or credits. This system contrasts with traditional jurisdictions, providing a streamlined approach to taxation and regulatory compliance for businesses operating in Prospera.
Governance and Economic Shifts
The discussion centers around the two main pathways of responding to societal issues: actively engaging within the system to drive change or opting out to pursue alternatives. The conversation delves into observations of individuals leveraging government welfare systems in a calculated manner, which has led to widespread dissatisfaction and political tensions. The narrative explores the impact of political climates, ideologies imposed by governments, and the consequent choices individuals make regarding their socio-economic positioning.
Prospera's Governance Model and Expansion
The focus shifts to Prospera, emphasizing its unique private enterprise-driven governance model within special economic zones. The podcast highlights the significance of creating legal frameworks and providing essential services while fostering a free-market environment for private citizens. It underlines Prospera's objective of promoting economic development, job creation, and community empowerment through transparent governance practices. Additionally, the discussion touches upon Prospera's vision for future growth by establishing multiple jurisdictional hubs to facilitate seamless business operations and encourage cross-border investments.
You might have seen my earlier episode with Erick Brimen, CEO of Prospera, here’s the CFO of Prospera discussing the ability to use Bitcoin as a unit of account. We discuss:
