How to Legally Pay Zero Taxes Anywhere

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  • Опубліковано 22 гру 2024

КОМЕНТАРІ • 706

  • @nomadcapitalist
    @nomadcapitalist  Місяць тому +4

    The latest episode of our Live Like a King series has dropped! Join Mr. Henderson as we explore luxury living in one of the best value cities in the world-Kuala Lumpur, Malaysia: ua-cam.com/video/hGvgJ1FYUlY/v-deo.html

  • @kefren191919191
    @kefren191919191 2 місяці тому +122

    I can't explain how valuable is your FREE content, I really appreciate you.

    • @nomadcapitalist
      @nomadcapitalist  2 місяці тому +12

      Thank you.

    • @Rob-k3j
      @Rob-k3j 28 днів тому

      @@nomadcapitalist Doesnt a llc overseas you bypass US taxes?

  • @zar-party
    @zar-party 2 місяці тому +273

    In Germany we ironically say that if your toothbrush is in Germany, you are a tax resident of Germany.

    • @makeyourlifeeasier5794
      @makeyourlifeeasier5794 2 місяці тому +6

      Hahaha...Just proves the Dentist Drill & Bill is less painful than the government tax man...

    • @hugovaz777
      @hugovaz777 2 місяці тому +7

      Still paying the absurd Balfour Declaration

    • @369-n2e
      @369-n2e Місяць тому +1

      Everybody pays taxes in one or another way... This is 🐂 💩

    • @ChristianGerner
      @ChristianGerner Місяць тому

      So true 😂

    • @leslieknope4775
      @leslieknope4775 Місяць тому

      Ive read that if you have belongings in Germany (as german) you have to pay Taxes here. 😢 best wishes from Stuttgart 😊

  • @KonstantinosKattidis
    @KonstantinosKattidis Місяць тому +56

    Great content.
    My preferred structure:
    Setup a company in a zero or low tax country. Live wherever you want and pay yourself minimum income from your company and pay tax only on this income. Invest through your company.

    • @denisp1277
      @denisp1277 Місяць тому +2

      👍 I would say 'live wherever you can' 😅

    • @gnorts_mr_alien
      @gnorts_mr_alien Місяць тому +2

      and how do you spend your money? not for investment but fun?

    • @KonstantinosKattidis
      @KonstantinosKattidis Місяць тому

      @@gnorts_mr_alienAny additional spending can be taken as dividends at any time. This amount will be liable to dividend tax.

    • @KonstantinosKattidis
      @KonstantinosKattidis Місяць тому

      @@gnorts_mr_alien As the 100% shareholder of the company, any extra spending can be paid as dividends. Of course this amount will be liable to dividend tax.

    • @PeterResponsible
      @PeterResponsible Місяць тому +6

      This approach may have issues. For example in EU you can't legally set up a company and operate it from a different country (even within EU). There's a law that says the tax residency of companies is wherever HQ is (a place where most important decisions are made). So even if I have Irish company but never go to Ireland as a director, the company is due taxes in the country where I live. This may be hard to impossible for the state to prove - but the question is what's legal, not what the state can prove or not. This is effectively what he mentions in the video when he said OECD countries can suck you in even when you try hard not to let them.

  • @EL_Aura
    @EL_Aura Місяць тому +32

    THANK YOU FOR BEING THE FIRST PERSON TO USE CANADIANS AS EXAMPLES! I always comment and DM about this as a Canadian and I obviously never hear back

  • @jakleo337
    @jakleo337 2 місяці тому +420

    I pay zero taxes because I don't file a tax return. I have a poverty level income as far as they can tell. Edit: I pay zero INCOME tax. I pay sales tax all the time. And tipping is a form of tax. And toll roads are a tax. And others. I ask no for no welfare or SS payments from the government. I do not 'live like a king' or a prince. Wise men throughout the ages have chosen to appear as commoners. I follow that principle.

    • @quitenice5450
      @quitenice5450 2 місяці тому +169

      Maybe dont brag on the internet about it

    • @renelopez2244
      @renelopez2244 2 місяці тому +9

      Awesome

    • @Jackson-e4k
      @Jackson-e4k 2 місяці тому +5

      Nice

    • @soulreed
      @soulreed 2 місяці тому +39

      Well in that case.....you're welcome.
      For all the benefits you receive from My income taxes

    • @ROKKANS
      @ROKKANS 2 місяці тому +49

      @@soulreedyou should give the welcome to the illegals and Ukraine, not a random person who’s figured out how to keep more of his own money, also contributions are still made while living inside the states, normally way more than someone working a 9-5 and donating to Uncle Sam. So matter of fact, YOU are welcome

  • @mt.sinairefuge5360
    @mt.sinairefuge5360 2 місяці тому +44

    I have lived in Peru for 20 years and never paid taxes and never been asked to pay taxes.

    • @neodurden6793
      @neodurden6793 Місяць тому +4

      I have no problem to "pay no taxes". But I have a problem then if you benefit/use any form of public wealth that a country puts for their tax payer citizens.

    • @Solizeus
      @Solizeus 28 днів тому +1

      @@neodurden6793 Because it isn't fair that some people get robbed and others not and they even benefit from the services paid with it even though they didn't asked for it?

    • @CannyValley-bi8nq
      @CannyValley-bi8nq 25 днів тому

      @@neodurden6793 does VAT exist in PERU. Indirect taxation is everywhere...

    • @neodurden6793
      @neodurden6793 25 днів тому

      @@CannyValley-bi8nq yes. VAT on goods and services you pay is, indeed, the one impossible to evade. The argument was more focused on all the others I guess

    • @IsaacWyatt-z8j
      @IsaacWyatt-z8j 3 дні тому

      @@Solizeus would you accept a roommate that doesnt pay rent and bills ?

  • @makeyourlifeeasier5794
    @makeyourlifeeasier5794 2 місяці тому +150

    My Dad found out how to completely stop paying taxes to the US at age 60...He died.

    • @heavenismydomicile3280
      @heavenismydomicile3280 2 місяці тому +4

      My dad died at 77,RIP DAD

    • @jimreimers4213
      @jimreimers4213 2 місяці тому +2

      How about you? Did you learn how? It is possible. (In the US)

    • @tr0wb3d3r5
      @tr0wb3d3r5 2 місяці тому

      💀💀💀

    • @jimreimers4213
      @jimreimers4213 2 місяці тому

      @@makeyourlifeeasier5794 it is possible if you want to learn free of charge

    • @livelovelaugh2130
      @livelovelaugh2130 2 місяці тому +2

      Nah. He was still in for estate tax

  • @caldepen372
    @caldepen372 2 місяці тому +32

    I think for clarity you don't necessarily need to become a non-resident for tax purposes and pay that exit tax, if you move to a country that has a tax treaty. So for example, with Canada, I could move to Italy and live in one of the regions that have the 7% flat income tax (Sardinia, Puglia, etc.) for 10 years and pay my income tax there and not in Canada. I just cannot be in Canada for more than 6 months in any given year. That is how I understand it!

    • @jen8063
      @jen8063 2 місяці тому +1

      South Africa is switching their visa system to crack down on this sort of thing so take care with your decision making

    • @jiti5034
      @jiti5034 2 місяці тому +1

      To be able to stay in Italy what kind of visa can you get though ?

    • @caldepen372
      @caldepen372 2 місяці тому

      @@jiti5034 Check out - Elective Resident Visa. For people that don't need to make money in Italy. If you have investment or rental income for example.

    • @alexsanchezch
      @alexsanchezch Місяць тому

      That is correct

    • @rubiooibur8534
      @rubiooibur8534 8 днів тому

      @@jiti5034 work visa or schengen visa

  • @fillmorehillmore8239
    @fillmorehillmore8239 2 місяці тому +40

    I had a fear of being the visual minority in another country and now I am becoming a visual minority in my home country. Dipping my toes into possibilities since I might as well embrace and melt into some other nations culture vs living in a nation of multiculturalist aspiration.

    • @crescentprincekronos2518
      @crescentprincekronos2518 2 місяці тому +10

      that's because things like that matter to you. have you ever thought of how the other people feel?

    • @L_MindBody
      @L_MindBody Місяць тому

      He doesn't need to in his own country & I doubt if any migrants think about him. It's called humans​@crescentprincekronos2518

    • @jstdrv
      @jstdrv Місяць тому

      Who cares​@@crescentprincekronos2518

  • @paulcoates3860
    @paulcoates3860 2 місяці тому +14

    Great, I could listen to your vast information every evening, mostly do, I learnt so much

  • @canoozie
    @canoozie 2 місяці тому +7

    I lived this way for 10 years. Moved to a place with a territorial tax system, sourced no income locally, investments in other regions where the benefits weren't repatriated where i live as that would be taxable locally. I got lucky, Costa Rica allows multiple citizenship and so does Canada. NR73 declaration from Canada that I'm not resident for tax purposes, and since my income wasn't coming from Costa Rica, no taxes locally -- just the obligatory social services contribution every month (hundreds so no issue), to maintain residency. Been here for so long that I can become a citizen with a social studies and civics focused test, but been here 13 years now.

    • @YTAug2030
      @YTAug2030 2 місяці тому

      Do do this only between two Countries?

  • @Mathuag
    @Mathuag 2 місяці тому +78

    step 1 - have money

    • @stellarmind69
      @stellarmind69 Місяць тому +1

      Step 0 - Inherit
      Lets kep it real, only a fragment of the wealthy made it thru their own drive, most oft them just are rich per default. Feudalism at its best.

    • @DroppedGoat69
      @DroppedGoat69 26 днів тому +1

      lol and enough worth trying to save !

  • @user-he8nu2ic1h
    @user-he8nu2ic1h 2 місяці тому +10

    Is there a list of top 10 best tax residencies by Nomad Capitalist? Like purely based on the simplicity of the system and low tax rates and the connectivity to the global banking system. Out of those one could then choose which country feels the nicest.

    • @edheldude
      @edheldude 2 місяці тому +1

      Check out Bulgaria. EU country with 10% tax rate, and they don't care if you actually live there or not.

  • @stephenconnolly1830
    @stephenconnolly1830 Місяць тому +8

    What happens if you live on a boat in international waters all year?

    • @taxwayneadvisory
      @taxwayneadvisory Місяць тому

      you have a situation you become tax exempt the short story were did you grow up america?

    • @iritesh
      @iritesh Місяць тому

      in India, Sales NAVY don't pay taxes

    • @adredy
      @adredy 26 днів тому

      Sealand, check ❤

  • @RayMaung
    @RayMaung 2 місяці тому +23

    St Lucia citizenship is taking longer than a year now. My wife has been waiting a year for her spousal application, which should've taken 3-4 months. Also, talking to other applicants, the interview isn't in person, but virtual.

    • @nomadcapitalist
      @nomadcapitalist  2 місяці тому +7

      Most interviews are virtual, yes, and it is taking longer.

    • @sandwichtube
      @sandwichtube 2 місяці тому +5

      There’s a thing called island time.

  • @TaylorAMiles
    @TaylorAMiles 2 місяці тому +10

    One of the best videos yet

  • @robertmaxa6631
    @robertmaxa6631 2 місяці тому +5

    How is the tax situation in the Czech Republic?

    • @jaceksuski4193
      @jaceksuski4193 29 днів тому

      It is getting worse. Since this year they rise the social contributions rates for the next three years.

  • @masyapanama1298
    @masyapanama1298 2 місяці тому +31

    I don't mind paying a reasonable amount of taxes, just not the excessive amount I had to pay in the socialist "utopia" of Canada. Combined federal, provincial, municipal, sales etc. claimed 70% of my income. I left over a decade ago, smartest choice ever.
    In spite of what the hypocrites at the OECD would have you believe it is far from a tax haven. Personal and corporate taxes are 25% and a 7% VAT. It does however have a territorial tax system which means that you only need to pay on income earned in the county and not from offshore. Investments, dividends etc. are not taxed. Therefore you can greatly limit your taxes to a reasonable level.
    As per your no fixed residency lifestyle, if it works for you that is great, I prefer to have some roots and therefore chose to settle in a low tax country and putter about the garden and raise my own food. But you do you.
    BTW As to why I consider the OECD to be hypocrites, they are happy to travel the world and hector everyone about taxes, yet their own staff are exempted from paying taxes on their own income. How convenient, as far as I am concerned they can help themselves to a hot steaming cup of shut the f*ck up.

    • @jen8063
      @jen8063 2 місяці тому

      South Africa is combatting this exact problem through their visa application system after the ANC failed to gain a majority, first time since 1994, and were forced into a coalition with some brains.
      They've been a host for these globalist parasites since 1994 to the detriment of the locals.

    • @criticalmassiveenterprise
      @criticalmassiveenterprise 2 місяці тому +8

      Good for you, glad you freed yourself. What drives me crazy are the people who think that paying taxes is somehow noble & patriotic to your country as politicians extract their wealth so they can gorge on citizen's productivity.

    • @bernardocastanon5469
      @bernardocastanon5469 9 днів тому

      how did you do it?

  • @earealestate2961
    @earealestate2961 Місяць тому +3

    Congratulations on this incredible achievement! Your dedication and hard work really shine through.

  • @corithefrugalflower
    @corithefrugalflower Місяць тому +3

    "They'll find you..." Very true today more than ever before. Thankyou for your 'wealth' of information on these topics! 👌

  • @UtahSuka
    @UtahSuka 2 місяці тому +5

    I have a Dutch passport with a secondary Dominican Republic passport, I'm a forex trader, stock and dividend ETF investor, my aim is to pay 0 or single digit % taxes if I have to pay.
    I also like to travel, I was thinking Colombia, Thailand and Malta as home basis. Thoughts?

    • @oddballsok
      @oddballsok Місяць тому

      Yes

    • @rubiooibur8534
      @rubiooibur8534 8 днів тому

      you want three homes for tax purposes? You are just switching from paying taxes to paying rent then. 😂 joke aside: malaysia has a new program that might be interesting for you ;)

  • @andrewkerr5296
    @andrewkerr5296 2 місяці тому +8

    As far as Income Tax goes, here in Australia just write to the ATO an ask them to define 'Income' as you need a Definition in order for you to file your return properly as there is NO definition in the Tax Assessment Act
    They won't & can't, which then creates an Est opal

    • @michaelcryptomooningloa8436
      @michaelcryptomooningloa8436 2 місяці тому +1

      Thanks Andrew. So do you pay tax or you avoid it just via that question to the ATO alone … I’m intrigued. 🎉😊

    • @andrewkerr5296
      @andrewkerr5296 2 місяці тому

      @@michaelcryptomooningloa8436
      It depends if your PAYG there really isn't any point as you're paying withholding.
      I'm a Sole Trader so I'm not paying any withholding at all, I haven't done a return so far for 2 years.
      Unfortunately though everything you buy in this Country retailers add on Taxes, so your still paying Taxes regardless.
      YT pretty much deletes all my comments regarding topic

    • @andrewkerr5296
      @andrewkerr5296 2 місяці тому

      @@michaelcryptomooningloa8436
      YT keeps deleting me comments

    • @dharmadasa66
      @dharmadasa66 2 місяці тому

      @@andrewkerr5296 What is an 'Est opal'? Tried Google which did not help.

    • @andrewkerr5296
      @andrewkerr5296 2 місяці тому +2

      @@dharmadasa66
      Hard to explain but it's basically a halt in proceedings because one party can't provide fact(s) & or rebuke fact(s)

  • @rivenoak
    @rivenoak 2 місяці тому +16

    the german tax relies on a simple check: if you got a german adress, you are taxed.
    your actual residence period means nothing if you own the place or the adress is your parent's home; your absence counts the same as if you were on a long vacation from home which means nothing at all for tax purposes. :p
    basically you have to cut ties with germany and only visit short term and stay in hotels. dont even try to play shenanigans with german Finanzamt; their patience to catch you lasts longer than yours :p

    • @Axiomatic75
      @Axiomatic75 2 місяці тому +6

      I fled Germany 14 years ago. Haven't been back in 5 years. They'll never get another cent from me except for the fee to get my passport renewed.

    • @rivenoak
      @rivenoak 2 місяці тому +1

      @@Axiomatic75 no problem with that as long you are absent for real and only visit family on christmas or so.
      no residence maintained = no taxes

  • @flexbillbert5802
    @flexbillbert5802 2 місяці тому +10

    Hi! Big fan! Which country is the best to live in as a UA-camr? If you become very successful, where would you pay the least taxes whilst living a combatable life? I'm from England and wouldn't be looking to pay no taxes. I don't mind paying some taxes. Just not the extortionate taxes the UK asks whilst destroying the country I used to love.

    • @2Hearts3
      @2Hearts3 2 місяці тому +5

      "I'm from England" sounds so lovely and refreshing. Mostly hear only "UK" these days. 🇬🇧☕

    • @alexsanchezch
      @alexsanchezch Місяць тому

      Andorra

  • @timmyecarter3449
    @timmyecarter3449 2 місяці тому +24

    Thanks for providing info for those of us who don't qualify for 7 figure status. 😊 It is greatly appreciated. However, relocation of any kind is daunting. Have you ever considered offering 'simpler' services for 6 figure clients? A 'lower' tier option assisting with less complicated relocation? For example, offering relocation to specific countries that aren't as time intensive for your staff and that doesn't involve moving a business or changing tax status? I think Nomad Capitalist would make quite a profit from tapping into this clientele. Sure, it's less money per client, but MANY more clients! js.😊

    • @roblox-f3j
      @roblox-f3j 2 місяці тому +7

      I really doubt he would be interested. He charges 20K before he will talk to you

  • @olafschermann1592
    @olafschermann1592 Місяць тому +2

    As an EU citizen - what about Dellaware which is tax frendly as long as you are not a US citizen

  • @Chimney1966
    @Chimney1966 2 місяці тому +5

    Being a quarter yearly moving nomad '90 days and next location' type is a simple way to avoid 'dreaded 183 days' tax residency. 4 locations rotation during each year simple and effective. As what comes to apartments, cars and local bank accounts, having 4 local companies, one in each country and every time living in company owned apartment/house, driving with company owned car and local company's bank card to deal local expenses. Being a visiting star of the corporation, and each time it is the local company which handles expenses... But it ain't cheap I can tell... Annual maintenance fees (and local staff salaries) times four just to keep simple setup in those locations... Easy to burn $1M per annum total just to keep four locations like that operational (in low cost countries) ...

    • @SvirepiyBambr-xw8rw
      @SvirepiyBambr-xw8rw 2 місяці тому +1

      Canada Revenue Agency absolutely love roasting people for paying their living expenses with their corp card. You would get caught, fined, and have their scrupulous attention afterwards. I am talking from my friend's experience: he was naive enough to pay for a snowmobile with his corp card, CRA caught it, audited all his corps expenses and fined him for everything he could not prove to be business expenses.
      Their goal is to make you pay yourself salary or dividends before spending this money and then they will have their income tax. And no amount of jumping between countries will absolve you of Canadian tax residency as long as you have Canadian income (i.e. a Canadian company which pays you salary or dividends). If a company provides you with some benefits (like you stay in the apartment that belongs to the company, drive their car etc) it is considered as taxable benefits and added to your taxes.
      Again: tax agencies hate it when you spend corp money on your living directly without declaring it as a taxable benefit, they consider it as a tax evasion.

    • @CreepyTrendMan
      @CreepyTrendMan 2 місяці тому

      Far from simple lol.

    • @luckynumber5.56
      @luckynumber5.56 2 місяці тому +1

      Your companies still have to be profitable and paying you an average salary for this to be legitimate, or else you’ll be on the hook for tax evasion. But having $160k an income taxed at a $40k rate is still nice, plus whatever other income you have that isn’t liable to income tax

    • @VinceofYawk
      @VinceofYawk 15 днів тому

      Wouldn't you have to jump between Schengen and non Schengen zones each time as well?

  • @teatree6228
    @teatree6228 2 місяці тому +18

    Australian taxes are at 3 levels- federal, state and council. Very complicated.
    Retirement self managed funds are also taxed
    Taxed till you have not much to live on

    • @matthewnirenberg
      @matthewnirenberg 2 місяці тому +9

      Oh and the worst part is:
      Unrealized Gains Tax
      AND
      The fact that everything is 'valued' under the 'deeming laws' that let the govt pick the highest possible value (if 100% developed or perfected/marketed as they would)
      I honestly don't see the point in people staying in Australia if they want to succeed and be all they can be.

    • @jamesm1256
      @jamesm1256 2 місяці тому +4

      It's also hard for Australian digital nomads, as unless you can prove you are a tax resident someplace, you are deemed to be an Australian tax resident. So the trifecta approach doesn't really work for Aussies I think 😣

    • @teatree6228
      @teatree6228 2 місяці тому

      @@matthewnirenberg Australian politicians are self promoting towards a USA government or military industrial complex jobs post retirement from politics eg some sit on the executive board of a USA company selling submarines to the cabinet of politicians whom they headed while in power, and made the buy decision as cabinet members and now selling the subs as salesmen for their new bosses

    • @teatree6228
      @teatree6228 2 місяці тому +1

      @@matthewnirenberg things got out of hand ever since the late Bob Hawke retired

    • @andrewkerr5296
      @andrewkerr5296 2 місяці тому +6

      I live in Australia & it's ridiculous the Taxes
      But next time your talking to your accountant, ask them why there is no definition of 'Income' in the Tax Assessment Act of (I forgot year)

  • @williamtaudien
    @williamtaudien 2 місяці тому +57

    Panama is the best. Only need to go back 1 time every 2 years to remain tax reaidency

    • @user-xg6yc8ho3w
      @user-xg6yc8ho3w 2 місяці тому +3

      Poooool tricks!

    • @roblox-f3j
      @roblox-f3j 2 місяці тому +14

      Residence and tax residence are not the same. I live in Panama and you need to spend 183 days here to be tax resident.

    • @moimoi3896
      @moimoi3896 2 місяці тому

      already too much !

    • @nomadcapitalist
      @nomadcapitalist  2 місяці тому +10

      That’s not true.

    • @reatcas
      @reatcas 2 місяці тому +1

      @@nomadcapitalist I know from several US military personnel that sort of do that, maybe you can make a video about 🤔

  • @WilliamGK1924
    @WilliamGK1924 2 місяці тому +2

    Do you have any videos for people with health concerns but want to move around?

    • @Jehauvv88
      @Jehauvv88 2 місяці тому +1

      Flying from country to country with health issues is really difficult. I am there.

    • @rubiooibur8534
      @rubiooibur8534 8 днів тому

      step 1: get an international health insurance

  • @YouBetterThink
    @YouBetterThink 2 місяці тому +2

    For banking, just fill in one of your addresses with a utility bill on your name, even though you're not actually a tax resident of that country, shouldn't be a problem for the banks and not for that government either as you follow the 180-day rule.

  • @Mehedihasan-yt6mx
    @Mehedihasan-yt6mx 2 місяці тому +11

    You can make videos on difference between corporate tax and personal income tax.

    • @ryanwilliams3070
      @ryanwilliams3070 2 місяці тому

      One is for corporations and one is for personal income

    • @jaceksuski4193
      @jaceksuski4193 29 днів тому

      You as an owner have to pay both taxes.

  • @BboyTibz
    @BboyTibz 2 місяці тому +5

    In Belgium, if you travel and live "nowhere" (aka 3 months here and there), they will assume that your tax residency is in Belgium!

    • @rubiooibur8534
      @rubiooibur8534 8 днів тому

      yes but how can they reach you when you are not registered in belgium anymore? also belgium has tons of DDT so they can assume all day long

  • @SigmaTradizionalisti
    @SigmaTradizionalisti 16 днів тому +1

    Please can you talk about the new USA LAW ABOUT THE BENEFICIAL OWNER INFORMATION there is a new site fincen

  • @stanisgmi
    @stanisgmi 2 дні тому

    But where is your brokerage and bank account registered at?

  • @D8K3
    @D8K3 2 місяці тому +1

    Is there a way to move to most countries and move out again without paying an exit tax on your capital gains tax? Could you possibly do that with trust in a country with no taxes whos beneficiary is a company setup in with no tax as well? My thinking here is that the company is broke on paper?

  • @mattanderson6672
    @mattanderson6672 2 місяці тому +3

    Awesome analysis
    Thank you Sir
    Appreciate you always Andrew

    • @nomadcapitalist
      @nomadcapitalist  2 місяці тому +1

      Thank you

    • @stephenconnolly1830
      @stephenconnolly1830 Місяць тому

      ​@@nomadcapitalist- what happens to one's tax status if you live on a boat in international waters all year long?

  • @AsomughaPromise-qr5fh
    @AsomughaPromise-qr5fh 2 місяці тому +1

    If i do drop shipping from another country inside the US and the company I'm making the purchase from is in the US but my purchase would be online, the goods would be handled by a 3rd party fulfillment (even the storage and i have no physical presence or worker), am i liable for taxes? Please sir just help me out with this question, it has been bothering me.

    • @taxwayneadvisory
      @taxwayneadvisory Місяць тому

      yes only when you go past the exempt threshold

  • @nomadbl
    @nomadbl 2 місяці тому +2

    Where do you purchase insurance if you don't have a permanent residency?

    • @matthewnirenberg
      @matthewnirenberg 2 місяці тому +4

      In the place you're legally tax resident and where your centre of life is. Simple!
      Like with everything, that's why if you want to live flag theory you have to:
      1. Establish tax residency in a 0% PIT country - you have to move your centre of life there and have a home that you return to
      2. LEGALLY leave the high tax, tax system that you were in, thus leaving you only in the tax system you entered in point 1
      3. Get a bank account in the 0% PIT country, live there for 8+ months and get a local tax file number. 0% PIT countries still issue tax file numbers so you can fill in the space on forms and as part of proving that you're legally tax resident there, even though PIT is 0%
      4. Once you've achieved all of that LEGALLY, now you can look at holidaying to several places for a month or two at a time (be careful to not become tax resident due to physical presence in those places), returning to the 0% PIT country you live in after each trip.
      5. Congrats you're living the modern LEGAL version of flag theory
      Its no longer possible to be perpetually traveling and tax resident nowhere, countries will declare you tax resident automatically unless you have LEGAL tax residency somewhere. This is literally a case of "you have to know how to play their game and beat them at their own game whilst complying with all the rules they made".
      Its intentionally hard because the high-tax countries are desperate for taxes because they're broke welfare states that care more about being dystopian, all encompassing and because they let themselves become welfare states.
      Remember, when the largest employer in a country is the government, the only outcome is always going to be larger, more bloated government and thus more over regulation (nanny state) and the only way to fund that is higher taxes. Becoming welfare states lets the govt exert more control over the people as they need the money to survive, it also makes it easier to justify increasing taxes "you don't want the poor to starve do you?".

    • @nomadbl
      @nomadbl 2 місяці тому

      @@matthewnirenberg
      I agree on everything, but I was really aiming at a practical solution for the insurance thing. In the approach you describe, I wonder about health care on those vacations for example.

    • @Xalta_Sailor
      @Xalta_Sailor 2 місяці тому +2

      Most places health care prices out of pocket are affordable. In the last 13 years I have spent less out of pocket than most US deductibles.

    • @rubiooibur8534
      @rubiooibur8534 8 днів тому

      online

  • @consciousequus
    @consciousequus 2 місяці тому +4

    Would like to see you do a Deep Dive into this, from a Canadian point

  • @schadlarry
    @schadlarry 27 днів тому

    I have just started looking into France for a perpetual visitor visa. My understanding France will not tax me if I file my US taxes. Under that scenario my US taxes will be zero or very close to it as it all comes from dividends/capital gains and soon SSI. So am I missing something here, living tax free or nearly in France?

    • @nomadcapitalist
      @nomadcapitalist  26 днів тому

      Thank you for your comment! Feel free to reach out-our team would be happy to discuss this with you and help create a plan to optimise your taxes: nomadcapitalist.com/apply/

  • @danielmalinen6337
    @danielmalinen6337 Місяць тому

    Are there any legal ways to avoid any country's VAT when you buy, for example, food and foodstuffs from a grocery store or an online store?

  • @nomadcapitalist
    @nomadcapitalist  2 місяці тому +18

    Would you like to learn in-person from the experts about how to legally reduce or eliminate your taxes while capitalizing on opportunities around the world? Join us for the next Nomad Capitalist Live event: nomadcapitalist.com/live

    • @autonestegg4195
      @autonestegg4195 2 місяці тому +1

      @@nomadcapitalist will be in touch after I make my first million

    • @karmamoksha369
      @karmamoksha369 2 місяці тому

      @@autonestegg4195 @nimadcapitalist team
      I want to waork with you from Bharat 🇮🇳, how can I connect? I have done student visas and helped students in Canads get federal lawyers against racisum and permanent settement as they become Tax residents and Canadian government (CIC) kind of tryed to do illigal work by fooling inncocent international students from India who have clean record. I have many connects in Bharat 🇮🇳 who are business people willing to relocate to TAX free countries. Would be glad to hear.
      I thank you nomadcapitalist team for giving us so much information which skilled me in various immigration and investment based residency through your UA-cam channel. Better than any MBA or PHD can teach 🙏🏼👁️🪐👁️

    • @ELITETRADEr294
      @ELITETRADEr294 2 місяці тому +1

      breaking news , Trump to end over seas double taxation ,

  • @klausjensensnet
    @klausjensensnet Місяць тому

    Sorry being a bit off topic... What is the name of the painter of the painting behind Henderson?

  • @calvinmcdowell8328
    @calvinmcdowell8328 2 місяці тому +1

    So if I decide to get German citizenship by decent in order to not pay taxes I need to own nothing in Germany and be in country less than 183 days including bank account and brokerage accounts? Is there a benefit to get citizenship?

    • @VinceofYawk
      @VinceofYawk 15 днів тому

      I want to know this as well please.

    • @rubiooibur8534
      @rubiooibur8534 8 днів тому

      you wont get a bank account if you dont have an address in germany, if you have an adderss in germany you are automatically obliged to pay taxes even if you are less than 183 days here or even if you move entirely abroad you will still pay taxes to german tax authorities for many years

  • @philipde
    @philipde 2 місяці тому

    What do you pay if you give up USA citizenship? Is it an exit tax on income or wealth? Or a fee ?

    • @nomadcapitalist
      @nomadcapitalist  2 місяці тому

      Hi Philip, check out our article on the 'Cost to Renounce US Citizenship' nomadcapitalist.com/expat/cost-to-renounce-us-citizenship/ hope it helps.

    • @simpleman5541
      @simpleman5541 2 місяці тому

      One would guess it's on net assets.

  • @illumoari
    @illumoari 2 місяці тому +5

    I live in France and I got racketted the first year ! Not a place if you get paid more than 84k per YEAR, like the bar for harsh taxation is low

    • @Jehauvv88
      @Jehauvv88 2 місяці тому +1

      Did you get racketted as an American? I am French, lived in the US for 40 years and with my American husband, we are planning to purchase a manor in Dordogne and semi-retire there in the countryside. The US is crumbling very fast. We have an option trading LLC. It seems that we are going to be a target. Probably will travel to Andorra to see what we can do.... Did you find a solution?

    • @TantissTheEmperor
      @TantissTheEmperor Місяць тому +1

      I’m French I’m getting racketted each year. Looking to get out of communism fast.

    • @rubiooibur8534
      @rubiooibur8534 8 днів тому

      @@Jehauvv88 Andorra is not an option anymore. believe me!

  • @thepap000
    @thepap000 2 місяці тому +18

    I've been watching you for years and I've always earned under £20,000 I'm currently an apprentice welder and I've been guaranteed a 6 figure salary in 3 years.
    The thought of giving the government a penny of that makes me sick. Other than maxing out my pension I don't really know how to legally avoid tax and even then I'll be paying tax on the back end

    • @Prince_of_Persiaa
      @Prince_of_Persiaa 2 місяці тому +1

      is 20,000 enough to survive?

    • @rubensnogueira5838
      @rubensnogueira5838 2 місяці тому +2

      It's not worth sacrificing a 6 figure salary just because you don't want to pay taxes (unless you can get a higher net salary somewhere else). Just save as much as you can *and then* make sure you invest that savings in the best possible jurisdiction. One day, if your salary stops being the most important income, you are free to move. Think long term.

    • @thepap000
      @thepap000 2 місяці тому

      @@Prince_of_Persiaa I'm 24, a father of 3 toddlers and I have a mortgage. I grew up in a household where both my parents were opioid addicts so I don't really want for much.
      I more or less live off Chicken thighs and beef mince so my food cost is around £80 a week and my mortgage is only £418 a month and I don't go out with friends and I've never been on holiday other than when I go on hiking trips but that costs basically nothing other than the train fare.
      I don't have an easy life by any means and I'm always having to pull a rabbit out the hat at the end of each month to pay everything but I have a good Future career and around 25% equity in a 95k home

    • @thepap000
      @thepap000 2 місяці тому

      @@Prince_of_Persiaa Honestly, I'm barely surviving. I'm 24 and a father of 3. Thankfully I don't really want for much as I grew up in a household with addicts, so you don't miss when you didn't have. I'm greatful to have food in my fridge and a warm home.
      I have a mortgage so that brings the cost down, I only pay £418 a month on that and we live off chicken thighs and beef mince, so we only really spend £80 a week on food.
      I have faith that it gets better though because it's not easy.

    • @eat_ze_bugs
      @eat_ze_bugs 2 місяці тому +2

      Unless you're a 7 figure entrepreneur, you're better off starting a small business and making some deductions before you consider anything to do with foreign jurisdictions.

  • @chdk55christidonny6
    @chdk55christidonny6 Місяць тому

    GENIUS TRUTH TELLER

  • @munirhussain6849
    @munirhussain6849 2 місяці тому

    How do you get around capital control imposed by certain countries. Disposal of asset can nt be repatriated legall because of this restriction.

  • @Billy_Bull_Sheeter
    @Billy_Bull_Sheeter Місяць тому

    What about in the UK?

  • @hg2763
    @hg2763 Місяць тому

    what do you mean if you have a foreign business then you dont get taxed in philippines?

  • @rayclark1713
    @rayclark1713 2 місяці тому

    What type of client does the Puerto Rico tax loophole makes sense for?

  • @Trdhns5444
    @Trdhns5444 Місяць тому +1

    How much capital do you need to make it worth the effort to become a capital nomad.

    • @PT-rg2vo
      @PT-rg2vo Місяць тому

      Well easy. Is your income tax bill, big enough to live in another country for 6-7 months a year? If YES, get out. If NO, try to reduce the tax.

  • @Info_sec
    @Info_sec Місяць тому

    about getting a second passport, unfortunately, saudi arabia doesn't allow saudi citizens to have multiple passports. any thoughts on that?

    • @nomadcapitalist
      @nomadcapitalist  Місяць тому

      We’ve cover a this for years: get a permanent residence with path to citizenship.

  • @thebigh9324
    @thebigh9324 2 місяці тому +3

    I love your content , always SO informative 💞 I have been looking to relocate recently and have shortlisted it to three , Buenos Aires , Bogota or Santiago !!! Which would you consider the best all round choice ? Would appreciate your take 🙏❤️

    • @synewparadigm
      @synewparadigm 2 місяці тому

      Depends on your financial situation? Do you live on a pention, multi-millions, or starting your life and opening a business?

    • @choco.es.unlimited
      @choco.es.unlimited 2 місяці тому

      Bogota and santiago are trash. Buenos aires is king

    • @toti022
      @toti022 2 місяці тому +2

      Buenos aires is the best

    • @marguz99
      @marguz99 29 днів тому

      I have lived in the three of them.
      All good choices. Perhaps Santiago a bit safer ... BsAs seems will experience a recovery with the new president. Bogota has a low cost of living but the left govmnt sucks however access from the US or Europe is better.

    • @synewparadigm
      @synewparadigm 29 днів тому

      @@toti022 Why?

  • @LorenaPicaro
    @LorenaPicaro 2 місяці тому

    Appreciate the detailed breakdown! Could you help me with something unrelated: I have a SafePal wallet with USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). What's the best way to send them to Binance?

    • @theresat947
      @theresat947 29 днів тому

      Stop posting this spam on every channel.

  • @LethalMindset
    @LethalMindset Місяць тому +4

    What about the UAE? Wouldn't it be a great strategy to set up your taxes in Dubai, spend the 90 odd days required for tax residency or more, and then avoid spending more than 4-5 months in any other country and make sure that you have assets secured outside of personal registration, if and where possible, outside of the UAE?

    • @rubiooibur8534
      @rubiooibur8534 8 днів тому

      you have to be 183 days in the UAE for tax residency and you cannot stay longer than 6 months outside of UAE

  • @splashpit
    @splashpit 2 місяці тому

    How much money do I need in the bank to do the three countries over the year ?

  • @AG.ONLINE
    @AG.ONLINE 2 місяці тому +2

    Interesting to see such a popular video about what I basically what I do everyday for work

  • @strategoking
    @strategoking 2 місяці тому +3

    Have you done a video on moving countries with animals?

    • @rubiooibur8534
      @rubiooibur8534 8 днів тому

      why? you just get take them with the airplane? or are you afraid that your dog gets eaten in another country? 😂

  • @adamzlublina4008
    @adamzlublina4008 2 місяці тому +1

    Very Informative Thank you Team Nomad

  • @JTKuehne
    @JTKuehne 2 місяці тому +1

    Can I denounce my American Citizenship, move all my $ to Panama, then just slow travel the world, never setting up a residency in another country? Moving around on tourist visas (and extension visas)?

    • @nomadcapitalist
      @nomadcapitalist  2 місяці тому +2

      Sure.

    • @TimeSpace1
      @TimeSpace1 2 місяці тому +1

      not sure panama is safe place to put $

    • @mikefish8226
      @mikefish8226 2 місяці тому +2

      Yes, but you'll need another passport first.

    • @Xalta_Sailor
      @Xalta_Sailor 2 місяці тому +1

      Yup has worked fine for the last ten years, but have to ditch ever visiting the US.

  • @autonestegg4195
    @autonestegg4195 2 місяці тому

    And if as a Canadian who has lived and worked the required amount of time to receive Canada pension plan in 20 years when I'm of age, could I still live tax free abroad the majority of the year at that time while receiving my pension?

    • @nadynekasta
      @nadynekasta 2 місяці тому +1

      If you receive a pension in Canada (and CPP, QPP and/or old age security), you'll be taxed in Canada for that pension regardless of where you live.

  • @herbertvonsauerkrautunterh2513
    @herbertvonsauerkrautunterh2513 2 місяці тому +4

    I'm so done with Australia. Not, I need to stick it out a few more years. Starting a capital investment company through a family trust and then I'll be looking at diversifying into Asia. Also have land in Thailand to move to that place is going under as well slowly

    • @nomadcapitalist
      @nomadcapitalist  2 місяці тому

      Thanks for your comment!
      We helped many Australian leave and have a better quality of life and more options. If you want to explore that path, get in touch with our team here: nomadcapitalist.com/apply/

    • @nomadcapitalist
      @nomadcapitalist  Місяць тому

      Thank you for your comment. If you need assistance on diversifying in Asia, our team would be happy to help: nomadcapitalist.com/apply/

  • @roti1873
    @roti1873 2 місяці тому

    I'm not your clientele, but do you have some sort of calculator so US citizens can check to see how much in taxes they would save if they revoked their citizenship for some other passport that does not tax you based on citizenship or worldwide income?

  • @BaLetts
    @BaLetts 2 місяці тому

    Australians are trying to leave what's their best option for taxes? I've seen Australia has copied America with chasing taxes. But the details are unclear. What's your studies told you about where australia is at?

  • @tjsoletsgo
    @tjsoletsgo 24 дні тому

    Just came across your channel, like this one alot. And I get it, Im somewhat in that category, travel alot. And want to finally get my tax residency sorted from the UK. I like your idea about just simply disconnect from your 'home' or any in fact, tax system, then perhaps spend 4 months in each country. Like you say, maintaining residency, not necessarily tax residency, some minimal days might apply. And others we've found have a remittance based tax system. Heres the rub though, to actually facilitate such a lifestyle, fluid, awesome, you still have to fiat currency your way around, with receipts of income and expenditure in whatever form you do it (be it as director drawdowns from companies you own etc).
    But, in order to do that you need to access the financial system, hold bank accounts, which in the case of the UK, requires you to be a permanent resident of the country....to have a bank account there...to receive income via whatever method of generation....to support such a lifestyle....the modified trifector is the only answer, but makes you a tax resident of said country you'd choose as your 'main' country. Its just a case of finding a country that is lower tax than your home country, and moving your financial affairs to it and then deciding how fluid you want to be from a location point of view, and what your visa rules are for your new host country

    • @nomadcapitalist
      @nomadcapitalist  24 дні тому

      Thank you for sharing your insights. We would be glad to welcome you at our next live event where you can get started on your Nomad Capitalist journey and learn from the brightest minds in global citizenship, legal tax reduction, international diversification and Plan Bs: nomadcapitalist.com/live

  • @HalKW
    @HalKW 2 місяці тому

    where are the photos from in the first part of this video? Beautiful place...

  • @LaceyHayward
    @LaceyHayward 16 днів тому

    I’m a Canadian Citizen. What if you were to combine things like self banking through a permanent life insurance policy, as from I understand will grow better than a bank the growth of which will not attract taxes. As well as I’m learning about something called social enterprise which is a way to combine business with a charitable cause, not only could you get tax breaks from that. But depending on what combo type of business or charitable organization you are you can get free stuff, like production software etc. If I am able to legally have my own pocket of wealth held somewhere tax free, this is ideal, I have a way I want to change the world that I am passionate about, so less taxes means more money, which means more implemented change. My last question is, is there anyway to double the advantages with common law our spousalship?

  • @flowplanet429
    @flowplanet429 2 місяці тому

    so uk citizens can just non dom the tax without need to give up citizenship? i want out of paying tax and to live abroad. but i really need a uk bank account to keep things like PayPal.

  • @dfreuden
    @dfreuden 2 місяці тому

    how do you do this if your have kids that need to go to school?

  • @steffmay7969
    @steffmay7969 2 місяці тому +7

    think the trifector method is still valid just setup your bank/brokerage/financial accounts before breaking your tax residency and make one of them the new digital multi-currency accounts like Wise or Revolut. You can then always get tax residency for one year if you need to and then find ways to end/break it the next year

    • @reganmacelwain2250
      @reganmacelwain2250 2 місяці тому

      Wouldn't you risk getting de-banked at some point? If so, I guess you could move your brokerage account without having to liquidate any assets / triggering a tax event but it seems like it could be a headache

    • @steffmay7969
      @steffmay7969 2 місяці тому +1

      @@reganmacelwain2250 possible. Each institution will have its own rules. I'm currently switching brokerages because they only support UK tax residents and I plan on leaving my tax residency.
      You can get debanked for all kinds of things, so if that's your worry don't do anything out of the norm

    • @VoiceOfThe
      @VoiceOfThe 2 місяці тому

      @@reganmacelwain2250
      I left the U.K. three years ago. Still have a brokerage account there. Live in Cyprus. I’m about to move the account before I start to drawdown from it, probably to Interactive Brokers (best for expats). I think it’s called a direct transfer and is relatively straightforward.
      You aren’t liquidating any assets so there’s no tax trigger.
      Regarding banking, I just use a family member’s address. Was told to do this by my bank when I told them I was leaving. Had no issues.

    • @VoiceOfThe
      @VoiceOfThe 2 місяці тому +2

      @@reganmacelwain2250
      I left the U.K. three years ago. Still have a U.K. brokerage account there. Will be switching brokerages soon to be more tax efficient before I begin to draw down.
      Believe it’s called a direct transfer and is reasonably straightforward to do, I’m told.
      You don’t trigger a tax liability as you’re not selling any of your assets.
      I still have a U.K. bank account and also use Wise.

    • @matthewnirenberg
      @matthewnirenberg 2 місяці тому

      @@reganmacelwain2250 Being de-banked is always a risk, even if you're in a high tax country like Australia. Since 2010, the WEF's ESG BS has been pushed by banks (except for two banks (1 large and 1 small) who accept anyone conditional to proving what they do is legal) and many innocent people have been unjustly de-banked.
      First it was licenced firearm dealers who were de-banked, then 4WD businesses, then farm supply shops, then farmers (because they use firearms and because they farm (the WEF hates this)). Then it was outdoor shops (that sell camping gear, etc.) because the public going bush and not being reliant on the govt is bad according to ESG; and now its anyone who has hobbies, interests, club memberships, employment, etc. that the bank feels "doesn't fit their risk profile" (this is why banks now demand to know everything about you under AML/KYC, even things that AML/KYC doesn't actually demand) - it could be simply because you collect coins and the bank thinks CBDC is all that should be allowed so they apply ESG scoring you badly and then you're no longer in their risk profile and de-banked.
      My point is being de-banked is a risk no matter what you do. The biggest point is to "never keep all your eggs in the one basket". Have some bullion and cash in safes at your residences around the world, have accounts in multiple countries and in multiple jurisdictions (CRS, non-CRS, western aligned, eastern aligned, etc.). Don't make your self have a single vulnerability by which a bank or govt can completely screw you over in an instant - you need access to money to put up a legal defence. Its literally the same reason Nomad Capitalist says to get multiple citizenships in various places - to expand your options.

  • @MaxDissent
    @MaxDissent 28 днів тому

    Do you know anything about a “state passport” vs “federal passport”? There is a group called Destination Freedom who claims that when you apply for a passport and check the box saying you are a “US Citizen” that you are claiming to be a citizen of the District of Colombia and therefore must abide by all federal laws including, paying federal income tax, abiding by federal gun laws, etc. Destination Freedom claims you can apply for a “state citizen” passport which makes you a citizen of your state instead and therefore you have no obligation to pay federal income tax or abide by federal laws. They claim to have been helping clients get state citizenship status for 20 years with zero issues with the IRS. Does anyone else know anything about this and whether or not this is true?

  • @AvinashDihal
    @AvinashDihal 2 місяці тому +43

    Just move to the Philippines, 0 tax on foreign income. Regardless of your income. That's what I did.

    • @Ghekko-kw3zz
      @Ghekko-kw3zz 2 місяці тому +5

      Terrible interest rates there but that's the payoff for being both a tax haven & having very tight banking secrecy laws.

    • @Holdeenio
      @Holdeenio 2 місяці тому +13

      @@Ghekko-kw3zzyou don’t need to keep your funds where you live. Live in the Philippines and continue to bank in Juristiction(s) that are strong and lucrative

    • @oldestmember2892
      @oldestmember2892 2 місяці тому +3

      On what visa?

    • @TSF13
      @TSF13 2 місяці тому +3

      Same with Paraguay

    • @Ghekko-kw3zz
      @Ghekko-kw3zz 2 місяці тому

      @@oldestmember2892 retirement is the best, allows local businesses/ work rights.

  • @patrickfitzpatrick1600
    @patrickfitzpatrick1600 2 місяці тому

    can you be Malaysian tax resident with MM2H visa?

  • @NortyNige
    @NortyNige 2 місяці тому

    Do you have any useful information on say Chile by any chance?

  • @ShineYourInnerLight
    @ShineYourInnerLight 2 місяці тому

    I read that when you renounce your citizenship US government taxes all your assets including homes at a income tax rate and you have to pay that in order to renounce your citizenship
    Is that true?

    • @LisaCulton
      @LisaCulton 2 місяці тому +1

      Depends on if you meet the criteria for being considered a covered expat.

  • @SleepySteve79
    @SleepySteve79 Місяць тому

    I heard the Netherlands has an price since this year you have to pay to leave.

  • @jasonbrown6534
    @jasonbrown6534 2 місяці тому +2

    Thanks for sharing

  • @greatcondor8678
    @greatcondor8678 2 місяці тому +1

    I was below income level and got my covid check form. It had a non tax payer box I checked and signed the form, so I am officially a non taxpayer.

  • @brianrogers4876
    @brianrogers4876 Місяць тому

    I definitely will be at the Nomad Capitalist Conference in Malaysia next year.

    • @nomadcapitalist
      @nomadcapitalist  Місяць тому

      We’re looking forward to welcoming you there: nomadcapitalist.com/live

  • @DanielJordan-c4z
    @DanielJordan-c4z 2 місяці тому

    Have you ever explored South Africa and would love your thoughts and insights if you have.

    • @gall6336
      @gall6336 2 місяці тому

      SA has exchange control so limits to what you can take out of the country

  • @smudgepost
    @smudgepost Місяць тому

    Always a fascinating watch. Am certainly interested in alternative passports of non-major Countries.

  • @MsHohoyo
    @MsHohoyo 26 днів тому

    Great content as always! I would love to see some focus on African countries and their tax systems and crypto policies

    • @nomadcapitalist
      @nomadcapitalist  26 днів тому

      Mr Henderson discusses the African passport and delves into the nuances of citizenship by investment programs, travel freedoms, and investment opportunities in Africa. Watch the full video here: ua-cam.com/video/C16NArhXpmI/v-deo.html

  • @ronyasmith
    @ronyasmith 20 днів тому

    No Taxes sounds amazing!

  • @LiMuBai
    @LiMuBai 2 місяці тому +1

    How to do it with kids?

    • @LisaCulton
      @LisaCulton 2 місяці тому +1

      Bring them along.

    • @LiMuBai
      @LiMuBai 2 місяці тому

      @@LisaCulton creative response 🤤

    • @LisaCulton
      @LisaCulton 2 місяці тому

      ​@@LiMuBaiThat's the way it's done. I have a child, so I know what I'm talking about.

  • @uneetudiant
    @uneetudiant 2 місяці тому +2

    Here in Canada they change tax codes like diapers. I have heard Canada Tax dept will start using the passport ,DL ,to stop you from travelling and or driving if you don't file or the tax dept they believe you owe .

  • @antoniobrasse7157
    @antoniobrasse7157 26 днів тому

    Can we talk more about offshore irrevocable trusts? Since renouncing US citizenship may not make sense for many that can afford to do it.

    • @nomadcapitalist
      @nomadcapitalist  26 днів тому +1

      You may find this video helpful 'Why Foreign Trusts are Better than Domestic Trusts': ua-cam.com/video/Zu27xlmDs_s/v-deo.htmlsi=sDBQeYmlQDG5lk0Q

    • @alli3219
      @alli3219 24 дні тому

      ​@@nomadcapitalist Delete the tracking code after and including the question mark

  • @FredCarver
    @FredCarver 2 місяці тому

    How can I do this as a Canadian

    • @nomadcapitalist
      @nomadcapitalist  2 місяці тому

      Hi Fred, check out our video on 'How to Escape the Canadian Tax System' ua-cam.com/video/aXtYF8V-xyY/v-deo.html. Also, feel free to reach out, our team will be happy to help: nomadcapitalist.com/apply/

  • @mervynmontague1811
    @mervynmontague1811 2 місяці тому +1

    Interesting and informative 🇯🇲

  • @g.eeducation251
    @g.eeducation251 2 місяці тому

    What if you left Canada without telling them and haven't done taxes for 18 years... But will move back?

  • @Schniebel89
    @Schniebel89 Місяць тому

    How much $$$ should someone have before this makes sense? I'm not really tied to my country other than having a well-paid, safe, and relaxed job here. My assets are exclusively in the stockmarket.

  • @8StringKeith
    @8StringKeith 2 місяці тому

    Good morning Andrew, Forgive me for being a little off topic…
    Since August, I have not seen any new episodes of the Nomad Capitalist on the i❤️Heart Radio 📻.
    Was this a business decision on your part, on i ❤️ Heart Radio’s part or was this an FCC regulatory decision that was made without the consent of either party?
    Kindest Regards, ~Keith 🌞

  • @consciousequus
    @consciousequus 2 місяці тому

    So how does that work with " passports "?.. you can't ( initially) enter a country without one.. passports marry you to country

  • @chizzlemo3094
    @chizzlemo3094 2 місяці тому +17

    Remember you can open a US LLC wherever you are from, these are tax free if you dont live there, and then you can get a chase bank easily.

    • @joshdw
      @joshdw 2 місяці тому +4

      Yes but how do you then take money out of that LLC to your country of residence? You'll be paying tax on that income in the end as far as I understand it.

    • @edheldude
      @edheldude 2 місяці тому

      @@joshdw Depends on the amount and your situation. E.g. if you're a tax resident of a country that doesn't tax foreign income, it's all cool.

    • @HashirRayanLimitless
      @HashirRayanLimitless 2 місяці тому

      Can you tell me more

    • @sebastiansupel2310
      @sebastiansupel2310 2 місяці тому +1

      @@joshdw non-KYC BTC exchange to fiat fixes this.

    • @JohannPietsch
      @JohannPietsch 2 місяці тому

      @@sebastiansupel2310 For example?

  • @jaeles2099
    @jaeles2099 27 днів тому

    What if, as an American, I live in a tax free country like the UAE? Wouldn't I only need to pay US taxes on the income above a certain amount? I think it's $120k/year or something.. and as a teacher I wouldn't make much more than that

    • @nomadcapitalist
      @nomadcapitalist  26 днів тому

      Thanks for your comment. You may find this article of interest: nomadcapitalist.com/finance/do-us-expats-pay-state-taxes/

  • @TheBeanTravel
    @TheBeanTravel 2 місяці тому

    What do you do about having kids and a more stable base for them?

    • @crescentprincekronos2518
      @crescentprincekronos2518 2 місяці тому

      somehow, i don't see this guy as the type to have or want to have children. that takes sacrifice and a will to contribute to the society in which you have them. none of that is in any of his videos and i've followed him for years.

  • @munirhussain6849
    @munirhussain6849 2 місяці тому

    Can you do an article on Capital Control