What I'd Do as a New Crypto Millionaire

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  • Опубліковано 25 вер 2024
  • nomadcapitalis...
    If you are earning money from investing in and trading cryptocurrency - what do you do next? In this video, Andrew shares what he would do and what you need to consider as a crypto investor and trader.
    Andrew Henderson and the Nomad Capitalist team are the world's most sought-after experts on legal offshore tax strategies, investment immigration, and global citizenship. We work exclusively with seven- and eight-figure entrepreneurs and investors who want to "go where they're treated best".
    Work with Andrew: nomadcapitalis...
    Andrew has started offshore companies, opened dozens of offshore bank accounts, obtained multiple second passports, and purchased real estate on four continents. He has spent the last 12 years studying and personally implementing the Nomad Capitalist lifestyle.
    Our growing team of researchers, strategies, and implementers add to our ever-growing knowledge base of the best options available. In addition, we've spent years studying the behavior of hundreds of clients in order to help people get the results they want faster and with less effort.
    About Andrew: nomadcapitalis...
    Our Website: www.nomadcapita...
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    Buy Andrew's Book: amzn.to/2QKQqR0
    DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.

КОМЕНТАРІ • 598

  • @liamhiggins4301
    @liamhiggins4301 3 роки тому +31

    I was living in Spain for 3 years and am heavily invested in crypto, not a day trader but was accumulating and Hodling since early 2017. We packed up everything and moved to Algarve in Portugal. Im irish so residency was easy, people are very friendly here and it has been the best move of our lives.

    • @pauloshea3741
      @pauloshea3741 2 роки тому +1

      Hi Liam, did you get the NHR scheme in Portugal? I've been reading mixed reports on how the tax office is dealing with crypto holders in Portugal.

    • @paulcostello7200
      @paulcostello7200 2 роки тому +1

      I'm also Irish Living here in Australia. Moving back to Eire next year and looking into residency aswell in crypto tax freindly countries in Europe at some stage in the next bull run. Did you just do research yourself or get professional advice? I did hear Portugal was number 1 but changes may be coming into effect in the coming years.

    • @arodisdiaz5111
      @arodisdiaz5111 8 місяців тому

      ​@@paulcostello7200hi! Im from latín american, im trader on crypto from 2017 and id like to live in australia but i dont know about tax crypto in your country, please could you give me some advice about it

  • @Daniel-dv2hl
    @Daniel-dv2hl 3 роки тому +102

    I know I'm not the only one who has changed their life within a year.. Please make sure to lock in some gains while riding the wave up and use those profits to diversify into other asset classes. And pay off some high interest debts! Much prosperity to all!!

    • @mike_w_21
      @mike_w_21 3 роки тому +4

      Especially if you're in shitcoins - bitcoin is another story.

    • @jaesimeon7082
      @jaesimeon7082 3 роки тому +2

      Great advice Daniel 👍

    • @charly4323
      @charly4323 3 роки тому +9

      @@mike_w_21 A lot of altcoins are objectively better than bitcoin, starting with ethereum.

    • @jeremywright5036
      @jeremywright5036 3 роки тому +4

      @@charly4323 look at their value vs. BTC I'm a bear market and you will find bitcoin is king.

    • @mike_w_21
      @mike_w_21 3 роки тому +1

      @@charly4323 LOL you have to be joking!

  • @mikadouglas6348
    @mikadouglas6348 3 роки тому +85

    Moved to Puerto Rico 3 years ago in anticipation for the Crypto Bull Market. Your advise is precious regarding the importance of lifestyle. My husband and I left the USA 12 years ago living in Bang Kwai Thailand and Renaca, Chile. This was the richest time of our lives forcing ourselves to deal with a massive change in culture, language, currency, values, etc. At 71 I only wish I had made the break from the USA sooner. Our plan now is to use PR as a base and continue traveling and nurturing our grandbabies.

    • @HigginsLawLLCWinterHaven
      @HigginsLawLLCWinterHaven 3 роки тому +2

      thank you

    • @360ODYSY
      @360ODYSY 3 роки тому +1

      I'll be living the nomad life very soon, any nuggets of wisdom for me?

    • @CruisnChris
      @CruisnChris 3 роки тому

      I was also thinking of moving to Puerto Rico for no crypto taxes. To be a resident of Puerto Rico you have to live there physically for 6 months out of the year? Is that correct?

    • @jenniferbrown399
      @jenniferbrown399 2 роки тому +1

      @@CruisnChris 6 mo +1 day.

  • @sven7736
    @sven7736 3 роки тому +39

    Please don't fall for the scammers in the comments guys. Great video again!

  • @cryptomooniac9457
    @cryptomooniac9457 3 роки тому +30

    Interesting video, but would have loved to hear something more specific in respect of potential countries and an overall strategy. Someone recommended me to set up a business in Panama, for example, and open a bank account for my business that I could use to cash out. I also have EU nationality and Portugal seems compelling as a home base to start, because as I understand they currently don’t tax crypto. I’d be potentially looking for other places and yes, start opening offshore bank accounts in crypto friendly places and invest in real state when I am able to cash out. Would love to see a video with a strategy like that.

  • @gpzim981
    @gpzim981 3 роки тому +64

    This channel is pure gold!

    • @guitarflash2049
      @guitarflash2049 3 роки тому

      yes this channel is cool very educative

    • @Michael-4
      @Michael-4 3 роки тому +1

      Pure Bitcoin you mean.

  • @kathrynmorea8629
    @kathrynmorea8629 3 роки тому +22

    Great advice and good things to ponder! I found this channel last year when I decided to move out of California. I'd never lived anywhere else but in November 2020 I moved to the beautiful Caribbean island of Puerto Rico. I love living in perpetual summer, right on the beach, like I'm always on vacation. It's not for everyone and some things are challenging. But now that I've come to know Puerto Rico, I would probably stay even if the tax incentives were not here. It's stunningly beautiful. Also a is a great community of creative thinkers.

    • @PrivateIdick
      @PrivateIdick 3 роки тому +2

      Hi Kathryn, I thinking about moving to Puerto Rico to avoid paying taxes on my gains, several questions, what are would you recommend? Did you pay any exit taxes when you relocated? What is the tax rates you are paying on your crypto gains? I appreciate any information you can provide. Thanks!

  • @flarewolfxrp4371
    @flarewolfxrp4371 3 роки тому +38

    It's getting closer for me!

  • @nomadic-mind
    @nomadic-mind 3 роки тому +94

    All of the questions Andrew hypothetically poses to viewers in these videos are gold nuggets of truth.

    • @nateportney672
      @nateportney672 3 роки тому +5

      Before he said "do u really want to live in PR?" now he's saying it's an idea.

    • @williamlucas5575
      @williamlucas5575 3 роки тому +1

      @@nateportney672 please guys which app and platform is best used to start trading bitcoin

    • @jamesfallon7577
      @jamesfallon7577 3 роки тому +4

      speaking about app,I would prefer coinbase and blockchain...I believe this 2 are really good and there are others you could start trading with expert Jane

    • @williamlucas5575
      @williamlucas5575 3 роки тому +2

      Umm I don't have the app but I'll download it on my phone now. Thanks for the recommendations tho...I think I have to try this out with expert Jane

    • @williamlucas5575
      @williamlucas5575 3 роки тому +1

      @@jamesfallon7577 Can I start with $3000

  • @sabinefaldon2606
    @sabinefaldon2606 3 роки тому +18

    Great information, Andrew, giving crypto-related content will bring you lots of subscribers 👍!

  • @ikennethang
    @ikennethang 3 роки тому +13

    Not many people talk about the hellish process when going through the paperwork to apply for a residence or a passport. It's even harder when your wealth comes from crypto.
    For example, providing a "Source of Funds" or "Statement of Source of Funds" (I learnt they're separate things, surprisingly), or a "Proof of Income", when most of the wealth/income is from crypto. Are you able to help with that, or talk about that in the next video?
    I love your channel Andrew! Your expertise is invaluable. Many people are living a happy life because of you!

  • @123mandalore777
    @123mandalore777 3 роки тому +34

    Andrew doesn't even need to buy any crypto to make it, he's gonna make it because so many other people are gonna make it this year and 10x his business. 2021 is going to create a whole new wave of expat communities around the globe.

  • @JohnBrentTinsley
    @JohnBrentTinsley 3 роки тому +29

    Trying to convince my wife on PR as a start. Thanks for all of your tips. See you in Playa for Live.

    • @johnwayne2103
      @johnwayne2103 3 роки тому +5

      Yes PR has no Federal taxes but it's a poorly run country, a Hurricane every 2 to 3 years to hit the island and take out power. Uhh yeah no thanks, that's like moving to Tornado alley.
      Most of these countries have favorable tax status now but once crypto starts taking off they pass laws as quickly as changing socks. A lot of Americans have no idea how the rest of the world lives and if you think the politics suck in the U.S oh boy have I got a bridge to sell you in Brooklyn.. Some countries make your dollar go far but you will soon discover what you can't buy.
      If you are someone who lives very light and isn't tied down to a lot of expensive hobbies then living in another country may work for you. If you are young it may work for you but I've known people to live in another country for 10+ years only to discover moving back to the U.S. is the best option. If you are looking to retire and you are in your 60's you have to consider healthcare and whether or not that country has a decent healthcare system.
      Moving to any tropical island is an expensive endeavor in so many ways. You can buy yourself citizenship for a 400k investment in a business there and you can work out the details from there.
      Money may buy you freedom and means but not necessarily what you think it will buy you. There are exceptions to everything but they are as rare as hens teeth.

    • @JohnBrentTinsley
      @JohnBrentTinsley 3 роки тому

      @Boy George thanks for the input. Definitely researching and not making quick decisions

    • @leonidasmonasterios5790
      @leonidasmonasterios5790 3 роки тому +2

      Check out Rincon, PR

    • @cristi567891
      @cristi567891 3 роки тому +4

      I have lived in PR for 3 years. The power/water does not go off for days very often. The last time that happened was over a year ago. All you have to do is spend your 183 days stateside during the hurricane season. The rest of the time you’re on an island, enjoying island life. There could be nothing better! Also I would advise against moving to the less populated/mountainous areas before checking out the internet service. We have excellent internet speeds in Dorado.

    • @JohnBrentTinsley
      @JohnBrentTinsley 3 роки тому

      @@cristi567891 thanks for the heads up. Taking a trip in July to do some exploring. I’ve been around SJ and the basic tourist areas. Time to look a bit further and really find out more.

  • @noamwolfson935
    @noamwolfson935 3 роки тому +10

    Love all of Nomad Capitals content but especially Crypto related

  • @laura53ize
    @laura53ize 3 роки тому +7

    Love that llama o. The background! Reminds me when I went to Peru .

  • @robertdavis9986
    @robertdavis9986 3 роки тому +6

    Your knowledge is real...and effortless. I think creativity is important with coming to a solution...gotta have fun and embrace change!

  • @Michael-4
    @Michael-4 3 роки тому +2

    You really have your audience nailed with your video topics.

  • @TheronGBurrough
    @TheronGBurrough 3 роки тому +6

    Nice, financially successful like Andrew advise people to first choose meaningful work in their lives, rather than to measure their success in money.

  • @bearberenstein5202
    @bearberenstein5202 3 роки тому +3

    Everyone's in crypto but no one is talking about staking and adding liquidity for rewards, this space is so much more than buy/sell. Passive income whilst retaining the principle wealth is the ethos of decentralisation.

  • @rareram
    @rareram 3 роки тому +1

    How is Germany a low taxation country?

  • @15thdimensionalhealerlight6
    @15thdimensionalhealerlight6 2 роки тому +1

    i agree with you Andrew, 100%. Gold / Silver / possibly real-estate, home, couple bank accounts arounds in different countries.

  • @RainaTeachings
    @RainaTeachings 3 роки тому +10

    Im only just beginning so lots if hope and starting to educate myself on what I might need later. Love your channel.

  • @craigm.5674
    @craigm.5674 3 роки тому +8

    Thanks for all you do... Got out of colorado USA 5 years ago...poor state changed so much in negative with crowds and lost its personality... now sitting in small village in Bavaria with 7000 people and the most beautiful mountains in the World... when I go trail run today...maybe I will see 5 people...but 100 cows... peace and quiet. Love your vids... still figuring out where to sit as home in 6 years.... Portugal.France.Italy.Austria as 2nd homes.. keep up good work

    • @k3iler05
      @k3iler05 2 роки тому

      So u went to Germany?

    • @craigm.5674
      @craigm.5674 2 роки тому +1

      @@k3iler05 Germany is very similar to Colorado usa, ..we moved to the mountains in Bavaria…as we are outdoor people…. We have trail running, a river and a ski resort in our town… kids just went snow boarding this morning for €22,00 and 5 minutes away. You wouldn’t even come close to guessing in Colorado…. How about $140 for a kid to ski for 1 day….plus $22 for a sandwich a drink and a cookie, probably all made in a factory, served on a paper plate… this after we had a giant 20cm x 60cm pizza last night for family and friends for €16!! That would have been $50,00+ in usa. Our cost of living here is half of what usa was.

    • @k3iler05
      @k3iler05 2 роки тому

      @@craigm.5674 thats awesome! I hope to leave the US one day also

    • @craigm.5674
      @craigm.5674 2 роки тому +1

      @@k3iler05 Dharok i have had 2 friends move to Europe since we did...and others coming... you just need to START the process and searching...and put a GOAL on a date. But dont rush it. however seeing what is happening with govern debt, bubbles, inflation, increase of taxes due to 30 trillion debt... you may want to start process soon. some Countries here a MUCH easier to make move.... and easier than many people think. Good Luck

    • @k3iler05
      @k3iler05 2 роки тому

      @@craigm.5674 Thank you. The problem I have is being a blue collar worker. (Truck driver). So it may not be as easier to accomplish as someone who may work off the internet etc.
      I'll keep looking and my options open.

  • @XorAlex
    @XorAlex 3 роки тому +2

    I want to get more passports, but dealing with bureaucracy is so annoying.

  • @brendcole7756
    @brendcole7756 3 роки тому +18

    As a crypto millionaire I would rather invest in real estate and Hotel management. Bitcoin is the ultimate in creating funds easily. I owe a second home for myself after selling off my Bitcoin profit worth amount of $321000. Bitcoin is a pension to retirees

    • @zeddigk620
      @zeddigk620 3 роки тому +1

      Yes you said it all Bitcoin is the greatest outfit one can trade and accumulate profit. Imagine there are 21 million Bitcoin and more than 680 billion dollar has been transacted between the interval of 2013 till date.

    • @roninkhan9669
      @roninkhan9669 3 роки тому +3

      If you keep the btc you’ll end up a lot richer

    • @zeddigk620
      @zeddigk620 3 роки тому +2

      @@roninkhan9669 exactly are you a Bitcoin Trader.

    • @ibrahimalovera9887
      @ibrahimalovera9887 3 роки тому

      Hello Zedd can you share experience or a suggestion of getting a stock trader.

    • @briannabella1940
      @briannabella1940 3 роки тому

      @@ibrahimalovera9887 getting a stock trader right now isn't easy as there are many defrauders.

  • @CryptoFarmer59
    @CryptoFarmer59 3 роки тому +12

    6 figure on my way to 7 figure soon... looking at options to move to my friendly country.

  • @arsalanmuhammad9704
    @arsalanmuhammad9704 3 роки тому +3

    Love Toronto but gota leave

  • @mshvidogio
    @mshvidogio 3 роки тому +4

    Mining Crypto is tax Free in Georgia 🇬🇪 and electricity is cheap as well, it has lots of potential in micro hydropower plants that can give good profits in long term if you believe in Crypto.

  • @cryptotrader4307
    @cryptotrader4307 3 роки тому +3

    The problem with Columbia is 35% tax. And Columbia taxes on all of your assets globally, not just what you have in Columbia. And that 35% tax is on assets over 45K which isn't much. Also, the extreme poverty makes you a target if you show off your wealth a bit. I'm also not crazy about the fact that you can't flush toilet paper and have to put it in a separate bin.

    • @larsonbwl
      @larsonbwl 2 роки тому +1

      Have you tried a bidet attachment on your toilet? It’s a game changer.

  • @AlbertaBoy247
    @AlbertaBoy247 3 роки тому +8

    Great stuff. I’m halfway thru the Nomad Capitalist book and it is giving me a lot to think about. You raise an excellent point here about “spouses that aren’t as much into crypto” -that’s where I’m at. It’s going to be an uphill battle to come to a travel/expat “former Canadian” position for my family with our family ties to parents/grandparents, etc.
    I feel like we are going to have to make a very difficult decision between getting out to a tropical paradise or opting to stay close to family, knowing it’ll literally cost us millions wasted in taxation and red tape....

    • @maybelline888
      @maybelline888 3 роки тому +3

      im in a similar situation. trying to make plans and decisions, but it seems the other half isn't so interested in leaving. it is an uphill battle, but the best I can do at this time, is to plant seeds and maybe they'll come around to atleast traveling for a few months to visit other countries and seeing/feeling true freedom.

    • @AlbertaBoy247
      @AlbertaBoy247 3 роки тому

      @@maybelline888 sounds like EXACTLY my situation....

    • @HigginsLawLLCWinterHaven
      @HigginsLawLLCWinterHaven 3 роки тому +8

      @@AlbertaBoy247 glad I'm single. don't have to consider another choice

    • @360ODYSY
      @360ODYSY 3 роки тому +7

      My plan is definitely to leave and travel regardless of friends and family.
      I will send a ticket to any family member that wishes to meet me while I'm sipping pina coladas on a tropical beach.
      We meet for a week or two every once in a while and if they want to stay longer they're welcome to.
      But I will not stay behind out of a false sense of obligation.

    • @AlbertaBoy247
      @AlbertaBoy247 3 роки тому +5

      @@360ODYSY that is exactly the plan I wish to propose to my wife... we really only see family in Canada a couple times a year. If the tax savings of leaving more than offset the cost of being extravagant and flying guests out to visit us here versus having them drive a few hours to see us for a few weekends as it is, then I say we are still way ahead and as a bonus, not having to deal with harsh Canadian winters..... I like it.

  • @Vazir911
    @Vazir911 3 роки тому +2

    How can a US citizen invest in real-estate in other countries and make it non reportable?

  • @rameses1979
    @rameses1979 3 роки тому +2

    I completely agree with what he says. You cannot keep all your assets in crypto. Get a 2nd passport in a 0 tax country, invest in real estate in countries with a future to have regular fiat income and open a Swiss bank account.
    Malta citizenship would be great but it's too expensive. Make money and live a little or a lot. If you're a very conservative family person, maybe look into UAE or Qatar or Oman.
    I prefer Caribbean countries. Passport from St Kitts and a condo in the Dominican Republic to have fun in Sosua, Punta Cana or Santo Domingo. Planning on retiring in 2025

  • @kurtjensen5798
    @kurtjensen5798 3 роки тому +3

    Portugal has 48% taxes on income.. + 2.5-5% social taxes + 23% VAT, so why suggest moving there for low taxes? Probably better to choose a country with 0% tax on capital gains, like Switzerland.

    • @pauloshea3741
      @pauloshea3741 2 роки тому

      Switzerland has a wealth tax! just sayin'

  • @StephenAldaco
    @StephenAldaco 3 роки тому +3

    Great video! First time viewer. This video really helped me make a big decision I need to travel more & find out where I want to call home home.

  • @lightning8948
    @lightning8948 3 роки тому +8

    Could you go into depth on the countries that are friendly and how they are?

    • @PabloDon27
      @PabloDon27 3 роки тому +3

      Go to his playlist covers this

  • @kathybreneman7892
    @kathybreneman7892 3 роки тому +2

    Why not never sell your crypto and just take it out in loans which are not taxable?

  • @zumzum011001
    @zumzum011001 3 роки тому +6

    moved to Thailand. Best decision ever

    • @jbennison5672
      @jbennison5672 3 роки тому +2

      What's the tax situation with your country of birth? Is there a Crypto tax in Thailand?

  • @BryceChudomelka
    @BryceChudomelka 3 роки тому +2

    Protecting my well with your resources. Thank you.

  • @andrewmcgrath8360
    @andrewmcgrath8360 3 роки тому +6

    Strategize when and why you sell, that’s been a huge help for me on avoiding paying excessive taxes at least within the United States

  • @cirtey29
    @cirtey29 3 роки тому +1

    In order to protect crypto, put them in cold storage wallets. They can't confiscate them.

  • @generalshepherd457
    @generalshepherd457 3 роки тому +1

    real estate is the next thing to tank. offices and physical stores are going belly up.

  • @TheRetirementality
    @TheRetirementality 3 роки тому +15

    When I talk to people about the tax savings in Puerto Rico they say "Oh I don't like Puerto Rico" and I say "That's cool, where all in Puerto Rico have you been?" and they say "I've never been to Puerto Rico"... It makes me crazy. I love Puerto Rico.

    • @mikelind2762
      @mikelind2762 3 роки тому +10

      I agree completely. The first year took time to get used to PR life. But after I figured out how to run a business at 4% corporate tax and all investment income at 0%. I could not afford NOT to live the Caribbean Lifestyle. Live and own property in PR for the last 4 years.

    • @TheRetirementality
      @TheRetirementality 3 роки тому +1

      @@mikelind2762 Where do you live in PR? I have a house in Humacao, but I live in St. Thomas.

    • @mikelind2762
      @mikelind2762 3 роки тому +2

      @@TheRetirementality I live in Santurce/Condado area. Sailed to St Thomas and St John a couple years ago. Dated a girl in Palmas Del Mar 😉👍🏼😁

    • @user-rc4jz9dy1i
      @user-rc4jz9dy1i 3 роки тому +3

      I been there when i was a kid and loved it. But looking at homes out there isn't reassuring. Alot of homes in Puerto Rico have steel fences and while I appreciate the security, it's popularity leads me to believe there could be a significant amount of unreported crime. How are crime rates out there?

    • @TheRetirementality
      @TheRetirementality 3 роки тому +3

      @@user-rc4jz9dy1i I don't really know. I feel safe in my neighborhood. Puerto Rico is a huge island island so I'm sure there are good places and bad places. Most high income earners move to Dorado or Palmas del Mar. I'm sure the crime rate in those areas is zero.

  • @Khaos969
    @Khaos969 3 роки тому +3

    Closes low tax country from the United Kingdom , and how long would you have to live there to benefit from low to no tax?

  • @captainobvious49
    @captainobvious49 3 роки тому +13

    I wouldn't mind paying 30% income tax so much if that money wasn't just lining the pockets of politicians and oil barons.

    • @robtriton
      @robtriton 3 роки тому +2

      You are definitely a Democrat. The IRS, State, nor local government deserve any of my crypto earnings or future earnings when I become a multimillionaire. I am heavily invested in the top 5 crypto's. My XRP will land me into the $25 to $35K a token in 5 years or less. No way I am paying the IRS. Fuck em. I am rescinding my U.S. citizenship and leaving this nation for Malta. A capital gains tax free haven!

  • @robtriton
    @robtriton 3 роки тому +1

    Thank you for the info on Malta! I will research more and heed your advice! This is a gem of a channel! I just found it today!

    • @nomadcapitalist7856
      @nomadcapitalist7856 3 роки тому

      Thanks for watching
      For further Guidance and Consultation on investment, feel free to contact me
      + •1 •6 •1 •5 •4 •3 •6 •0 •7 •9 •6

  • @87GordonFreeman
    @87GordonFreeman 3 роки тому +1

    Crypto 100%, Tax 0%, happy resident of UAE (Turkish citizen)

  • @natoguajardo
    @natoguajardo 3 роки тому +3

    Really cool info and never thought about living anywhere else until I found out how much I have to pay for my crypto gains

  • @charliestrong8161
    @charliestrong8161 3 роки тому +1

    Batumi Georgia 🇬🇪 the best place for cripto

  • @tinglestingles
    @tinglestingles 3 роки тому +14

    Timely and very useful.

  • @yts4106
    @yts4106 3 роки тому +3

    Cyprus' 60 day residency is fastest way to sell crypto tax free?

  • @gaeldesmontagnesnoires1711
    @gaeldesmontagnesnoires1711 3 роки тому +4

    It's not that I enjoy crypto or beleive in it, it's that I have no choice but to stay in it! I gave up custody for it to be lent out; the 1k in BTC a day I make in divs so far is greater than $13 in interest I owe everyday from borrowing $ against my BTC collateral = I'm stuck in a making more $ than I can spend or owe loop ... by doing absolutely nothing.
    It's crazy, this must be what they call passive income!! Didn't think it was a real thing yet here we are.

  • @rift5980
    @rift5980 3 роки тому +2

    As a non US person were would be a good option to set up a tax home that requires minimal time on the ground so that one can travel?

  • @scrappychildhood6633
    @scrappychildhood6633 3 роки тому +3

    Xrp would only have to hit $1,000 for me to be a crypto millionaire.

    • @KnowledgetoDiefor
      @KnowledgetoDiefor 3 роки тому

      It has to hit 12 for me to be a crypto millionaire just off of XRP except others that'd do multi millionaire 😆

  • @michaelgeer5457
    @michaelgeer5457 3 роки тому +10

    How crypto and tax friendly is Costa Rica say in relation to Puerto Rico, Mexico, and other countries close by. I'm retiring and want to be a close flight to family. Thank you. Love your content.

    • @dcbc21
      @dcbc21 3 роки тому +3

      Colombia is great

    • @FishMonkey
      @FishMonkey 3 роки тому +1

      Costa Rica is really quite expensive and their economic infrastructure isn't the best due to the nearly relying on everything on tourism for the past 2-3 decades. However, CR one of my favorite places to visit annually. But it's important to DYOR.

    • @dlukton
      @dlukton 3 роки тому +2

      If you have US citizenship.... and you want to keep it.... Puerto Rico is probably your best bet.

    • @MariA-bu2jv
      @MariA-bu2jv 3 роки тому

      This is my plan too. Selling the house later this year 🤞

    • @michaelgeer5457
      @michaelgeer5457 3 роки тому +1

      @@dcbc21 My brother loves it there. I should talk to him.

  • @harumancer580
    @harumancer580 3 роки тому +2

    As a BTC zealot, I am planning to cash out at a certain value in Fiat and invest in real-estate. The proceeds of which will be 50-50 into crypto and to cover living expenses. I am planning a move to a tax friendly jurisdiction for the cash-out. I do worry a bit about buying real-estate in my original home country... am looking for solutions around this.....

  • @mikelind2762
    @mikelind2762 3 роки тому +1

    Moved to Puerto Rico in 2017 and started a business and investing in crypto with all the advantages of the Tax Decrees needed for 0% tax on investment and capital gains from crypto.

    • @kbs7340
      @kbs7340 3 роки тому

      So lucky. Can I come? I’ve got crypto 😉

  • @tinglestingles
    @tinglestingles 3 роки тому +8

    Portuguese residency - this year.

  • @DC-nm1jt
    @DC-nm1jt 3 роки тому +14

    If you are from the UK, Monaco is a good shout. I think you only need to buy a property over there and spend 6 months in that country a year to avoid capital gains (if you can do 6 months there ;))

    • @thehowto282
      @thehowto282 3 роки тому +1

      the properties are really expensive in Monaco, what about Gibraltar or Dubai?

    • @meisterlymanu5214
      @meisterlymanu5214 3 роки тому

      a v expensive match box, with little culture as a result. Singapore is similar. It feels plastic.

    • @mstangtom
      @mstangtom 3 роки тому +1

      That seems relevant for ppl with at least 10M in crypto... A very small crowd...

    • @jeffb.140
      @jeffb.140 3 роки тому +3

      Monaco with its 1 BTC hamburgers?

  • @biskit7
    @biskit7 3 роки тому +4

    Just came from PR... i wouldn't move there if you paid me....

    • @jasperdemuyaya5143
      @jasperdemuyaya5143 3 роки тому

      Interesting perspective, Carlos. It would help to know what are some of the concerns you had. Also interested in knowing how blacks are regarded in PR. Thanks.

  • @MariaAndersenCrypto
    @MariaAndersenCrypto 3 роки тому +3

    Even because of low taxes I would not want to live in Puerto Rico...

    • @erikakullberg4774
      @erikakullberg4774 3 роки тому

      Really??

    • @cryptolight7063
      @cryptolight7063 3 роки тому +1

      @@erikakullberg4774 I thought about moving to Puerto Rico from the US mainland, but the ongoing threat of hurricanes is too strong. As an 'almost' crypto millionaire, I'm considering other territories for relocation.

  • @melisalercari4334
    @melisalercari4334 3 роки тому +7

    I will be hiring you Andrew!!! I've been following you for over a year and love your professionalism, mindset, knowledge and expertise!!

    • @fusion9619
      @fusion9619 3 роки тому

      ^ that's not him. Don't be fooled. That's a scammer.

  • @hildacorea
    @hildacorea 3 роки тому +1

    What do you think about Belize?

  • @oscarjavi007
    @oscarjavi007 3 роки тому +1

    We should all move to a Caribbean country with a very small Government. That is the best life.

  • @Sam-ue4rv
    @Sam-ue4rv 3 роки тому +1

    Open a Charity to offset tax and help the world make the changes you want to see.

  • @debojyotibasu5111
    @debojyotibasu5111 3 роки тому +4

    Hello Sir, can you please make a video on some tax friendly countries with liberal arms rights.

    • @PabloDon27
      @PabloDon27 3 роки тому +2

      None of that is Biden Country!

    • @debojyotibasu5111
      @debojyotibasu5111 3 роки тому +1

      @@PabloDon27 whats going on there is so sad and disgusting at the same time.

    • @rivenoak
      @rivenoak 3 роки тому +2

      no country outside of USA is adamant about second amendment...and they still live.

    • @guillemsolersuetta5924
      @guillemsolersuetta5924 3 роки тому

      As far as I know, only Switzerland has liberal arms rights and I believe also Israel but not sure.

    • @rivenoak
      @rivenoak 3 роки тому

      @@guillemsolersuetta5924 lot or arms in switzerland, but also well regulated.

  • @crazyprayingmantis5596
    @crazyprayingmantis5596 3 роки тому +5

    So let's see, to avoid/reduce tax
    1. Move your family away from everyone
    Or
    2. Don't sell ever, borrow against your crypto and stay where you are.
    I think I know what I'll be doing

    • @crazyprayingmantis5596
      @crazyprayingmantis5596 3 роки тому

      @Internet User
      Everybody you know

    • @issacsanchez6894
      @issacsanchez6894 3 роки тому +1

      Bad advice. 'Borrowing' against your crypto is still just trading. You can get liquidated and loose all your crypto if the value of bitcoin looses too much.

    • @Mellowmonkeyman
      @Mellowmonkeyman Рік тому

      @@issacsanchez6894 i was thinking about this too, what if you pay off the loan rather quickly? Or is there a certain amount of minimum time you need to keep your loan for?

  • @hago7568
    @hago7568 3 роки тому +1

    I would really like a video on countries that tax extraterritorial gains such as Thailand etc. Thanks for all your videos it has been very educational!

  • @jBuck8888
    @jBuck8888 3 роки тому +1

    great video, i was waiting for some kind of content like this !

  • @Abidefortruth
    @Abidefortruth 3 роки тому +22

    Hi I watch all of your videos. Where is the path of least resistance for Australians to go? One of the worst taxed and privacy abusing counties on earth. PLEASE PLEASE PLEASE make a video for Australians. It has become total tax tyranny against the people here, talk to any accountant people pay on average over 60% tax and most people are struggling because of all the financial rape by the govt and monopoly financial system here. Please help us with a video for Australians PLEASE!

    • @Powaboxa
      @Powaboxa 3 роки тому +7

      Agreed. I love Australia and don't really want to leave, but those with real power here are abhorrent and care nothing for the country and its people.

    • @haych27
      @haych27 3 роки тому +2

      I second this. Vanuatu comes to mind as path of least resistance even if it's not the *best program in the world. Then when I'm ready, live in places I love.

    • @grandsoleil56
      @grandsoleil56 3 роки тому +1

      And now it's just tyrannical in general

  • @saberman12341
    @saberman12341 3 роки тому +1

    A lot of people need to also consider the healthcare infrastructure in other countries. especially older people. I would not want to go to a place that could not provide top tier healthcare in a timely fashion with reasonable medical insurance costs. Taxes are one thing but dead is dead.

  • @duskcypher8894
    @duskcypher8894 3 роки тому +1

    Im one of the people doing well in crypto. Im simply holding my assets right now. As for protecting my wealth. I applied to be your client Andrew. So hopefully we'll both be speaking soon :)

  • @MariaAndersenCrypto
    @MariaAndersenCrypto 3 роки тому +1

    I'm interested where do you live?

  • @c.kyprianos
    @c.kyprianos 3 роки тому +2

    ETH 🚀 STRONG 🚀 HTR 🚀

  • @richardlove4287
    @richardlove4287 3 роки тому +3

    How can you travel if the borders are closed?

    • @nomadcapitalist
      @nomadcapitalist  3 роки тому +1

      Watch this: ua-cam.com/video/iQVfJhWj_2g/v-deo.html

    • @richardlove4287
      @richardlove4287 3 роки тому

      @@nomadcapitalist thanks...appreciate your time friend. Hope to be in touch once I’m past my 3rd million. Don’t want to waste your valuable time until then. Thanks again, Richard.

  • @heartstonecampground1081
    @heartstonecampground1081 3 роки тому +5

    Great videos Andrew-looking forward to talking with you in person one day...

  • @brianhoward1245
    @brianhoward1245 3 роки тому +6

    Totally agree, I do far less active trading because of the tax hit. I’ve missed out on a ton of potential gains due to this.

  • @keitho77
    @keitho77 3 роки тому +6

    You can have all the crypto millions in the world but it won't of any use if there's no where to live free of CONvid 19 tyranical governments.
    Any advice on this topic Andrew? Thank you.

    • @chiragforu
      @chiragforu 3 роки тому

      mexico right now is the best place. not sure in terms of crypto but yeah

  • @danielclayton3170
    @danielclayton3170 3 роки тому +1

    Definitely a must save podcast.👍👍

  • @SonAyoD
    @SonAyoD 3 роки тому

    does sweden tax crypto

  • @DIGTHEVOICE
    @DIGTHEVOICE 3 роки тому +1

    How do you feel about Mauritius?

  • @whattheysaid...3372
    @whattheysaid...3372 3 роки тому +1

    No C.B.I opportunities in the Bahamas? Exumas or any other of the out islands?

  • @harumancer580
    @harumancer580 3 роки тому +2

    As always, an informative and interesting piece. But I wonder, please point me to the link if it already exists, do you have a view on the tax status: non-tax resident anywhere? A true Nomad lifestyle? Is this a feasible lifestyle?

  • @danguzek
    @danguzek 3 роки тому +3

    This video should be required viewing for all EGLD holders 👍

    • @kbs7340
      @kbs7340 3 роки тому +1

      Too true. Hahaha

  • @fukcensorship5762
    @fukcensorship5762 3 роки тому +1

    self-directed IRA shelters tax... for now

  • @Ggdivhjkjl
    @Ggdivhjkjl 3 роки тому

    Australia currently won't let people leave, except maybe to go to New Zealand.

  • @lucombo
    @lucombo 3 роки тому +2

    Portugal! And then exploring for diversify my wealth elsewhere! Great video! Thanks Andrew!

  • @rkim41
    @rkim41 3 роки тому +1

    I recall you mentioned Cambodia as a good real estate investment in Asia. Where else in Asia do you recommend? Is Vietnam overhyped?

    • @pauloshea3741
      @pauloshea3741 2 роки тому +1

      If you're ok with landmines, dangerous snakes, and corrupt police, Vietnam is lovely!

  • @iceyjo
    @iceyjo 3 роки тому +3

    I am all in for crypto and moved to Puerto Rico. It is a 3 yr minimum commitment but getting 0% and I am retired is pretty cool. I like the idea of multiple passports. My goal is to invest in crypto banking that pays 8% APR and but real estate around the world in countries that I like. After that who knows.

    • @jeremywright5036
      @jeremywright5036 3 роки тому +1

      I am basically the inverse, I have real estate and I am planning to use the income to invest into crypto. If it goes well I get the next order of magnitude of wealth, but then it goes back into real world physical investments.

    • @concepcionlara3056
      @concepcionlara3056 2 роки тому

      Congrats! First, did you have to pay an exit tax? Second, now you pay no state and federal taxes on capital gains? Third, what about on income? Would love your feedback. Thanks so much!

    • @iceyjo
      @iceyjo 2 роки тому +1

      @@concepcionlara3056 You don't have to pay an exit tax but you are obligated to pay the place of origin on your unrealized gains at the time of leaving once you realize it unless you live in PR for 10 yrs. No state or federal and no capital gains. Just $10k to charity plus $5k application fee

    • @concepcionlara3056
      @concepcionlara3056 2 роки тому

      @@iceyjo Thanks so much for your kind reply. Can you please point me in the direction where I can get information about this, or the name of the program so I can conduct an internet search? I'd so appreciate it! Thank you!

    • @iceyjo
      @iceyjo 2 роки тому +1

      @@concepcionlara3056 Act 60. (Formerly Act 20/22) Lots of UA-cam videos on this topic.

  • @homeiswheremyhouseis5517
    @homeiswheremyhouseis5517 3 роки тому +3

    Wyoming will likely be my new home by new years eve. Not ready to leave the country.

    • @topgun213
      @topgun213 3 роки тому +3

      yes or florida for me

    • @chrisarneson8644
      @chrisarneson8644 3 роки тому

      And I’m leaving Wyoming

    • @homeiswheremyhouseis5517
      @homeiswheremyhouseis5517 3 роки тому

      @@chrisarneson8644 Why? Where are you going? Taxes are my big reason and I live in Oregon now and it's terrible.

    • @chrisarneson8644
      @chrisarneson8644 3 роки тому +4

      @@homeiswheremyhouseis5517 Retiring to Portugal. Ultra low taxes there and the cost of living is extremely cheap. I can't wait to live in a European lifestyle. I grew up in Wyoming and I'm ready to leave. There are many great things about being here but "The Equality State" moniker could not be farther from the truth. This is the most closed-minded state I have ever experienced and it has worn me down. I'm sick of small-minded people. Maybe I will find that everywhere but this state is its own support system for them.

    • @homeiswheremyhouseis5517
      @homeiswheremyhouseis5517 3 роки тому

      @@chrisarneson8644I see, leaving the country is too muchforme. I have zero experience in Wyoming but I have to leave Oregon. Nevada, Idaho and Florida if it were closer to my parents in California are my choices for now. Cheers and good luck.

  • @Naushad7
    @Naushad7 3 роки тому

    Hi, very informative video. What are your thought about Mauritius? Thanks for the great content.

  • @billfrenger8955
    @billfrenger8955 3 роки тому

    Thank you Andrew, what do you think of going to Antigua for Crypto investors ?

  • @harleypk9476
    @harleypk9476 3 роки тому +1

    GMR & 100XCOIN!!! 🚀💎

  • @jmueller8081
    @jmueller8081 3 роки тому

    My current asset allocation: 20% crypto (and growing fast), 30% real estate, 40% VOO, 3% stuff (cars, boats etc...), 3% cash for investment opps, 4% pre-IPO late stage co. 70% of my crypto is staked for fixed income along with VOO dividends.

  • @kristinlow1205
    @kristinlow1205 3 роки тому +1

    Is the Llama for sale?

  • @bulldogwoof6954
    @bulldogwoof6954 3 роки тому +6

    I like my home country South Africa, a beautiful beach town called Ballito is where I want to move to.

    • @Novaknet
      @Novaknet 3 роки тому

      I love SA also. Especially CT

  • @nss490
    @nss490 3 роки тому

    You should consider doing some bench press man. Be the best you, not only financially

  • @madslug7139
    @madslug7139 3 роки тому +6

    From what size if portfolio you recommend people to start look around?

    • @madslug7139
      @madslug7139 3 роки тому

      @Juji-Gatame from Canada 🇨🇦

    • @MuEnViFitness
      @MuEnViFitness 3 роки тому +1

      think what you will have and how much the gov will take from you. If you are ok with it then maybe this bullrun is not yet time for you but the next one might be!

  • @SmoothNobody
    @SmoothNobody 3 роки тому +1

    13:16
    legally non reportable? how does that work? i am seriously considering the carribean but not sure if i want to renounce US citizenship. i would have to report and keep paying tax on foreign assets. with FATCA and CRS in place for all of these citizen by investment countries how do you avoid your country of choice not reporting you?

    • @SmoothNobody
      @SmoothNobody 3 роки тому

      @Green Daze he said make real estate investments in foreign countries. PR isn't a foreign country. he was talking about singapore switzerland and portugal a few seconds before the time stamp.

  • @originalbro6262
    @originalbro6262 3 роки тому +3

    My advice: Keep at least some in crypto, in longterm gems, such as Quant (QNT).