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Nomad Capitalist Live

Welcome. I’m Andrew Henderson – perpetual traveler, international entrepreneur, and citizen of the world. Each week, I share tips and insights gleaned from my world travels on how you can find more freedom, grow and protect your assets, and live a radical life on your own terms. I help you achieve your own freedom with my daily field reports, weekly syndicated radio shows, helpful products, and live events. Every year, I travel to about one dozen new countries (sometimes many more) in search of personal and economic freedom. My mission is simple: find the best places to live, start a business, and invest. I’m always on the go and exploring new places. No one place has a monopoly on freedom, opportunity, or happiness, and I make the world my oyster in search of the perfect balance. While on the go, I take the time to really understand what’s going on on the ground in each country in order to find the best places in the world to live, work, bank, invest, start a business, date, raise a family, and enjoy life. I value personal freedom above all else in life. Freedom to live how I want, free from bosses and their 9-to-5 work days and from greedy politicians that want to control me and steal my money.
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Now displaying: 2015
Dec 31, 2015

Andrew is excited to announce that Georgian citizens will soon be able to travel throughout the European Union without a visa. The law will be in effect at some point in 2016, so stay tuned for more information on Nomad Capitalist's website. Today's guest is Paige Donner, a startup entrepreneur based in Paris, France. She talks about starting her food and wine business and her experiences as a foreigner in France. 

 

Key Takeaways:

Andrew's Editorial:

[1:35] Georgia is still the easiest place to open a bank account.

[2:55] Georgian passport holders can now travel visa-free throughout the EU.

[4:25] Singapore citizenship is difficult.

[7:45] Be careful who you listen to.

[9:40] Georgia is definitely an up and coming country.

[11:30] Andrew is looking for 4-5 people interested in planting more flags with him.

 

Interview:

[16:40] How did Paige become an entrepreneur?

[18:10] What was the transition like for Paige when she moved to Paris?

[23:20] Paige is filling a gap in the France market.

[25:35] Localize your business based on the region or city, don't try to cover the entire country.

[31:05] What kind of challenges did Paige encounter when starting a business in France?

[37:25] Is it difficult to become a French citizen?

 

The Lighting Round:

[39:15] One business – Food and wine

[39:55] One country – France

[40:20] One book – Moveable Feast by Ernest Hemingway

[41:30] One tool – Facetime

 

Listener Question:

[44:35] What's the process to finding good tenants and taking care of your property overseas?

[46:35] Invest in something you can handle.

[47:25] Good service providers are hard to find.

[48:50] Want to be successful? Have a strong network.

[50:55] By going to the Passport to Freedom event in Cancun, you will be exposed to a greater network of like-minded people.

[53:10] You can use Google, but it's not always the best way to go.

[55:35] Feel free to email Andrew with any questions you might have.

 

Mentioned in This Episode:

http://nomadcapitalist.com/

http://nomadcapitalist.com/2015/12/21/easiest-place-to-open-a-bank-account/

Andrew@NomadCapitalist.com

Hola@NomadCapitalist.com

http://parisfoodandwine.net/

Moveable Feast by Ernest Hemingway

 

Dec 18, 2015

In Andrew's intro, he talks on taking a break from the nomad lifestyle and briefly touches on New Year's resolutions. Today's guest is Eric Highsmith, the director of Scottsdale Mint, a US based company that manufactures bullion. Eric discusses why you should diversify your investment strategy and how to safely transfer your gold to Singapore. 

 

Key Takeaways:

Andrew's Editorial:

[3:00] Take a vacation.

[7:00] Tired of paying too much tax? Live somewhere else.

[8:40] Andrew didn't want to send 40-50% of his income to the IRS.

[9:30] You can save money!

[11:30] Take action now.

 

Interview:

[15:10] Why did Eric get into the gold market?

[21:10] Is gold a dead asset?

[25:20] How is Eric diversifying?

[27:30] Does he plan on branching out into other metals?

[29:40] How can you get your personal gold into Singapore?

[35:25] Biggest challenge of having a business? Partnering with the right people.

[39:15] Who you trust is very important for diversifying your money and portfolio.

 

The Lighting Round:
[40:50] One country – Singapore.

[41:35] One business – A bar.

[42:35] One book – Anything by Warren Buffett.

[43:10] One tool – Cellphone.

 

Listener Question:

[46:10] Subscribe to us on iTunes.

[46:25] Where to celebrate a Nomad New Year's Eve?

[48:15] Dubai, Abu Dhabi and other places in the Middle East.

[49:25] Check out European countries like Spain and Scotland.

[50:40] New to being a nomad? Go to Asia.

 

Mentioned in This Episode:

http://nomadcapitalist.com/

 

Dec 11, 2015

Sylvie McCracken is a former Hollywood celebrity assistant turned full time entrepreneur currently living in Abu Dhabi with her husband and 3 kids. She writes about treating and preventing health conditions with real food and natural remedies. Sylvie talks with Andrew about running her business overseas and why she moved to Abu Dhabi.

 

Key Takeaways:

Andrew's Editorial:

[1:20] The last Passport to Freedom event will be hosted from January 14th-16th.

[7:20] We're here to live the life of our dreams.

[12:00] At the Passport to Freedom event, Andrew will be talking about three residency programs.

[16:25] The speakers will be people who are doing exactly what you want to be doing.

[18:00] Why do you really need an offshore company?

[19:30] Don't do it just because someone else told you to.

 

Interview:

[21:55] How did Sylvia get started?

[23:30] Does traveling with a family make you more focused in your business?

[26:20] Why did Sylvie and her family leave the US?

[30:55] Why move to Abu Dhabi?

[31:45] Sylvie talks about Middle Eastern culture and common myths.

[35:30] How has Sylvia planted her flags?

[37:40] Was it difficult for Sylvia to get residency for the entire family?

[39:40] Sylvie believes the black market exchange could happen in North America.

[41:00] Biggest challenges? Efficiency.

[42:50] Is Abu Dhabi a first world place to live?

 

The Lighting Round:

[45:45] One business – Staffing company.

[47:15] One country – US/Argentina

[47:55] One book - The Big Leap. 

[48:15] One tool - Trello

 

Listener Question:

[50:35] What's Andrew's favorite exotic food?

[53:15] You can get a second passport without living somewhere else full time.
[54:35] Nothing is holding you back.

[55:35] Don't copy the thought leader. Make decisions that are right for you.

 

Mentioned In This Episode:

http://nomadcapitalist.com/

Andrew@NomadCapitalist.com

The Big Leap by Hendricks Gay, PhD.

 

Nov 26, 2015

Andrew talks on how U.S real estate is often overpriced and doesn’t offer the best investment options money can buy. He believes that it's important to go where you're treated best and to not follow the herd. People looking to become a citizen of the world must network with like-minded people or else they'll be seen as crazy for not blowing their money on current trends. Today's guest is Angela Hood from ThisWay Global. Angela talks on what it's like as a U.S. citizen living and starting a business in London.

 

Key Takeaways:

Andrew's Editorial:

[2:00] What is the most important thing in a business? Sales.

[2:15] Andrew was watching Million Dollar Listing.

[4:05] Why are people paying so much money for real estate?

[7:45] People have short memories.

[10:00] Just because foreigners are buying U.S. Property, it doesn't mean they're right.

[12:40] Following the herd is a bad idea.

[13:20] Want to lower your taxes? Don't follow the herd.

[16:20] Nomad Capitalist can help you network with like-minded people.

[18:15] Email us your story and let's see if we can help you.

 

Interview:

[19:50] Andrew introduces Angela Hood. ThisWay Global

[20:45] Why did Angela decide to become an entrepreneur?

[22:40] Why did Angela leave the U.S.?

[24:50] It's harder to start businesses in the U.S.

[26:40] There's a lot of diversity in London.

[29:00] Americans miss out on a lot of opportunities by not traveling.

[29:30] What about the lack of privacy in the UK?

[30:30] Why did Angela choose to start a business in the UK?

[32:05] Angela recommends Czech Republic and Ireland for starting a business.

[33:30] Zero tax countries may not be the right place to go.

[33:50] How international is Angela's business?

[36:10] What is the greatest business success Angela has achieved?

[38:20] Pros and cons of getting funding?

[40:30] What is the tax situation like in the UK?

[44:35] Does Angela want British citizenship?

 

The Lighting Round:

[46:20] One country – U.S.

[46:40] One business – Food truck.

[47:35] One book - Tipping Point by Malcolm Gladwell

[48:25] One tool – Slack/Whatsapp.

 

Listener Question:

[51:25] How can you get a Thai passport?

[53:25] Asia is a bit inclusive.

[56:35] Getting residency in Thailand isn't cheap.

 

Mentioned In This Episode:

http://nomadcapitalist.com/http://nomadcapitalist.com/

Nov 18, 2015

Andrew does a quick comparison between Medellin, Colombia versus London, England. Andrew believes investing in Colombia is a great option right now. The people are incredibly optimistic about where the country is going and Colombian citizens are investing in their economy again. Today's guest is Mark Peters, who has relocated from New York to the UAE. Mark talks on some of the growing opportunities expats can find while living in Abu Dhabi.

 

Key Takeaways:

Andrew's Editorial:

[01:40] Andrew will be hosting a private event just for the Nomad audience.

[03:15] The Colombians are optimistic about their economy.

[05:50] Andrew felt safe in Colombia.

[08:15] Medellin vs. London?

[14:10] Andrew will be revealing his investment playbook at the Passport to Freedom event.

[14:35] London isn't optimistic.

 

Interview:

[19:55] How did Mark get started?

[24:25] Connect with other people to help take your investments to the next level.

[25:40] Why did Mark leave the US?

[28:10] It seems the Middle East and Africa are untouched by expat investments.

[29:30] Are people missing out by not considering places like Abu Dhabi?

[31:25] Should you look to the Middle East to set up a tech company?

[33:00] What's the weather like?

[34:05] Which flags is Mark currently planting?

[36:30] What's the banking like in the Middle East?

[38:40] What kind of challenges has Mark faced as a U.S. citizen?

[42:35] The UAE is already 80% expats and they are incredibly welcoming to foreigners.

 

The Lightning Round:

[45:55] One business – Disposing of furniture and renting apartments. 

[47:15] One country - UAE

[48:30] One book – The Obstacle Is The Way by Ryan Holiday.

[48:55] One tool – Cam Card.

 

Listener Question:

[51:35] Do you qualify for a Hungarian citizenship?

[54:00] It's hard to actually get the documents you need, because they're on paper and archived somewhere.

[56:10] Prepare to spend a lot of time and money on this.

[57:55] It's not a cheap process, but it's a good passport to get.

 

Mentioned in This Episode:

http://nomadcapitalist.com/

Hola@NomadCapitalist.com

https://twitter.com/amarkmanpeters

The Obstacle Is The Way by Ryan Holiday

https://www.camcard.com/

 

Nov 5, 2015

While Andrew was visiting his lawyer in Panama, they had an interesting conversation on how there's a lot of investment coming not only from the US and Canada, but from Venezuela and other South American countries that are suffering economically. Due to less regulation in Panama, it is easy to do business and pay taxes without it restricting your business growth. If you spend 5% of your time trying to be in compliance with the law, what does your time really mean to you? Go where you're treated best.

 

Today's guest is Horst von Wendorff from Virtual Knowledge Workers. Horst runs a VA team in the Philippines and talks on some of the challenges he's faced while trying to do business there.

 

Key Takeaways:

Andrew's Editorial:

[2:10] Locate who you can trust. Bad lawyers are everywhere.

[5:25] Venezuelans, Colombians, and Argentinians are also investing in Panama.

[9:25] Interested in hiring a women?

[13:00] Countries with 'too many rules for your own good' are on the decline.

[15:45] If you need help, please email Hola@NomadCapitalist.com.

 

Interview:

[17:55] Andrew introduces Horst von Wendorff.

[18:30] Why did Horst become an entrepreneur?

[22:30] Was it scary to move to the Philippines?

[24:40] Did Horst ever have an ah-ha moment?

[27:40] What kind of flags has Horst planted?

[30:15] Horst talks Philippines tax.

[34:10] Banking was easy for Horst.

[35:05] Horst talks about the culture clash.

 

The Lighting Round:

[37:30] One business - time.

[38:20] One country – US.

[38:45] One book – Harvard Business Review.

[39:40] One tool – Smart phone, anything cloud-based, Office 360, cheap laptop, and TimeandDate.com.

 

Listener Question:

[43:40] Do you qualify for Russian citizenship through a family member?

[46:40] Andrew is unsure on the process.

[48:00] If you can get a Russian passport, take it.

 

Mentioned In This Episode:

http://nomadcapitalist.com/

Hola@NomadCapitalist.com

http://vkwinc.com/

https://hbr.org/

http://www.timeanddate.com/

 

Oct 30, 2015

Andrew Henderson tells the story of Parable of the Talents and the key lessons you can learn from it. Andrew states that you should not be rewarded for playing it safe and burying your money in the backyard. It's important to develop an abundance mentality so you can take the necessary risks to grow your wealth.

 

Today's guest is Tony Simola from Simola Technologies. He currently is located in Finland and is a successful digital nomad. We learn about Tony's background and some of the challenges he's faced while trying to plant flags around the world.

 

Key Takeaways:

 

Andrew's Editorial:

[2:20] You can now buy tickets to the Passport to Freedom event.

[3:05] You got to be on the email list if you want special discounts.

[4:19] Andrew talks about his friend Matt and the story of the Parable of the Talents.

[10:35] The Nomad Capitalist talks about the idea of protecting the money you have.

[11:50] Burying money in the backyard is never the answer.

[12:55] Government can devalue your money.

[13:55] You have to take a little risk to grow your wealth.

[15:55] At the Passport to Freedom event, there will be speakers to help you invest your money wisely.

[18:10] Start to develop an abundance mindset towards your money.

 

Interview:

[20:45] Andrew introduces Tony Simola.

[21:40] Tony shares a little bit about his background.

[23:55] Why Finland?

[25:50] How does Tony's business allow him to travel?

[28:25] How can digital nomads publish books while overseas?

[31:00] What countries have treated Tony the best?

[35:35] Tony is looking for ease and access and is willing to pay a bit more in tax for that.

[35:55] What other challenges has Tony experienced?

[38:30] Can you do business in Russia?

 

The Lighting Round:

[41:25] One business – Restaurant.

[42:15] One country – US.

[43:00] One book – The House of Morgan by Ron Chernow.

[43:30] One tool – Timeboxing.

 

Listener Question:

[46:30] Is Belize a good tax haven?

[48:35] Colombians working in Panama will soon become double taxed.

[49:55] Paying a little bit of tax can get you along way.

[50:45] Andrew believes paying a bit of tax is better than paying no tax.

[52:00] What is the reputation of a country on a global scale?

[54:30] Feel free to contact Nomad Capitalist to find the best options for you in your situation.

[55:50] Sign up to the email list to get great discounts and updates.

 

Mentioned In This Episode:

http://nomadcapitalist.com/

http://www.simolatechnologies.com/

 

Oct 22, 2015

Andrew Henderson talks on whether or not you should invest in the Iraqi Dinar and how you can diversify your US dollars. Andrew believes that if something appears too good to be true, then it probably is. He emphasizes the importance of doing your homework and to invest in what you have a good understanding of.  Do not fall for get-rich-quick schemes, because those rarely come true. Today's guest is Nadine Hays Pisani. Nadine runs a bed and breakfast in Costa Rica and is the author of Happier Than A Billionaire. She talks on why she left her it all and moved to Costa Rica.

 

Key Takeaways:

 

Andrew's Editorial:

[1:30] Look out for the Passport to Freedom 2016 details in the newsletter.

[3:20] How can you diversify your US dollars?

[4:50] Should you buy Iraqi Dinar and Vietnamese Dong?

[10:40] Invest in what you know.

[13:45] Always do your homework.

[17:30] Easy schemes are what you have to be careful of.

[19:45] Take the emotion out of it and make a calculated decision on investment deals.

 

Interview:

[23:00] Why did Nadine become an entrepreneur?

[24:15] What was Nadine's ah-ha moment?

[26:55] The more you know, the more scared it can make you.

[30:20] Why Costa Rica?

[32:40] You can rent a house in Costa Rica for as low as $400.

[36:05] What other flags has Nadine planted around the world?

[39:45] You don't have to give up your US bank accounts and retirement funds to move aboard.

[44:00] Costa Ricans value their time.

 

The Lighting Round:

[46:05] One business – Reality show.

[46:40] One country – Italy.

[47:05] One book – No books.

[48:25] One tool – Skype

 

Listener Question:

[51:25] Can you open a Swiss bank account without a personal visit there?

[52:50] Most banks require you to be physically present.

[54:00] The door for Switzerland is closed unless you're rich.

[56:30] It is possible to open a bank without physically being there.

[57:10] Fast, easy, and cheap. Pick two out of the three.

[59:40] Check out the Nomad Capitalist book, The Best Offshore Banks.

 

Mentioned In This Episode:

http://nomadcapitalist.com/

http://www.happierthanabillionaire.com/

 

Oct 14, 2015

What does it mean to live in a low-cost country? Andrew cautions that low-cost economies do not necessarily mean it is your best option. Sometimes, you're better off by going where you can make the most money; where there's more opportunity. Traveling to a low-cost country also may not solve your core money problems. Andrew believes if you focus on the opportunities in a more expensive country and not the problems, you may be better off.

 

Ana Gusso is today's guest. Ana facilitates tours for Brazilians looking to travel to Australia and the Himalayan region. She talks on her experiences creating a business overseas and more.

 

Key Takeaways:

 

Andrew's Editorial:

[1:40] Andrew talks about the cost of living around the world.

[3:55] Why should listeners be careful of the 'low' cost of living?

[6:00] Andrew talks about the decline of the American standard of living.

[9:20] Moving overseas may not solve your underlining problems with money.

[13:25] Where can you make the most money?

[15:50] Consider spending a little bit more money to go off the beaten expat road.

[17:10] Focus on the opportunities.

 

Interview:

[19:55] Why did Ana start her business?

[24:55] What other locations did Ana look at before starting her business in Australia?

[27:25] What are the differences between selling to a development market versus selling to a tourist/poorer market?

[29:00] Differences in between Brazil tourists vs Australian tourists?

[32:45] Banking in Brazil was difficult compared to Australia.

[36:15] Ana talks about her dual-citizenship status.

[37:20] It's hard to become a Brazilian citizen.

[39:00] Ana talks about her travel experiences.

                    

The Lighting Round:

[42:00] One business – A travel fair.

[42:35] One country – Not sure.

[43:00] One book – Rich dad, poor dad by Robert Kiyosaki

[43:50] One tool – Audible.

 

Listener Question:

[46:25] Does Andrew recommend banking in Panama?

[49:00] Panama banks are tied to FACTA.

[49:15] Andrew believes there are better banking options.

[50:40] Panama banks are a lot of hassle and they make things difficult.

 

Mentioned In This Episode:

http://nomadcapitalist.com/

http://nomadcapitalist.com/2015/10/05/the-decline-of-the-american-standard-of-living/

http://www.toptripviagens.com/

Rich dad, poor dad by Robert Kiyosaki

 

Oct 1, 2015

Should you move to Georgia and setup a business there? Andrew talks on his last trip to Georgia and how much he loves the government's efficiency in getting everything you need setup in one building. Andrew makes a valid point that entrepreneurs need to know what their time is worth. Is your time worth standing in lines and running around the country to get the needed paperwork or could you use that time to be making deals and making money? Georgia may be the place for entrepreneurs looking for a new start.

 

Key Takeaways:

 

Andrew's Editorial:

[2:35] Should you move to Georgia?

[5:20] Georgia's government is incredibly efficient.

[11:00] Georgia isn't no tax, but it certainty is low tax.

[14:00] Your time is valuable, which is why you should go where you're treated best.

[16:20] Entrepreneurs love banking in Georgia.

 

Interview:

[18:35] Andrew introduces Matt Newton.

[18:55] What does Matt think about Chile?

[21:00] Why did Matt become entrepreneur?

[24:10] Where has Matt traveled to?

[25:10] Is Chile pro-business?

[28:50] Will Matt be staying in Chile or become a perpetual traveler?

[30:30] What kind of flags has Matt planted?

[33:50] What kind of opportunities did Matt get in Chile that he couldn't get in Australia?

[35:15] Banking in the US was the hardest.

[37:10] Matt talks about the romantic side of things of being a perpetual traveler.

 

The Lighting Round:

[39:20] One business – Latin job boards.

[40:40] One country – Spain

[41:50] One book – The 7 Day Startup by Dan Norris.

[43:10] One tool – Minaal backpack.

 

Listener Question:

[45:35] What are the best citizenship by investment programs out there?

[49:45] You don't necessarily have to spend more money to get the best service.

[52:20] Visa free access to Europe may be a good option for you.

[52:55] Caribbean options can open you up to more borders without a visa.

[54:40] Nomad Capitalist can help you with this process. 

 

Mentioned In This Episode:

http://nomadcapitalist.com/

http://www.tourismtiger.com/

The 7 Day Startup by Dan Norris

 

Sep 17, 2015

There are several countries in the European Union who will welcome entrepreneurs with open arms. Andrew talks on why you should maybe start a business in Europe in order to get into their residency programs and pay lower taxes. Ladan Jiracek is today's guest. He is the host of the Travel Wisdom Podcast and has been to over 100 countries. Ladan is currently residing in India with his girlfriend and talks on his experience living and starting a business there.

 

Key Takeaways:

Andrew's Editorial:

[1:25] If you're part of the Nomad Capitalist email list, you can get 80% off on Passport to Freedom.

[4:10] Should you get an European passport?

[6:25] How much do you have to invest to get an EU passport?

[9:00] You can apply to EU residency programs by starting a business.

[13:00] In some parts of Europe, tax procedures are easier than in the US.

[17:30] Andrew recommends at least looking at Europe.

[21:55] Where should you go? Where should you be in the next five years?

 

Interview:

[23:10] Andrew introduces Ladan Jiracek.

[27:20] It's never too late to start planting flags.

[30:25] It was only until a couple of years ago that Ladan thought about selling things abroad.

[32:10] Why India?

[34:00] Ladan is living off $400 a month. What does that get him?

[36:25] What business does Ladan plan to start in India?

[38:00] You have to go where you're treated best.

[41:00] What kind of flags is Ladan planting?

[43:25] What challenges has Ladan faced in India?

[45:40] Ladan talks on moving to India with his girlfriend.

 

The Lighting Round:

[47:40] One business Accent services.

[48:10] One country India

[49:15] One book Money Master the Game by Tony Robbins

[50:35] One tool Calendly.

 

Listener Question:

[53:10] What would you do if Bernie Sanders would be elected?

[54:35] Andrew will not be voting. He doesn't believe the expat vote matters.

[56:35] Can the country Georgia be the next Singapore?

[58:35] US expat tax will never go down, because it's corrupt.

[61:25] You can't vote for a safe haven.

 

Mentioned In This Episode:

http://nomadcapitalist.com/

http://nomadcapitalist.com/2014/11/21/39-countries-reduced-taxes-business-corporate/

https://travelwisdompodcast.com/

Money Master the Game by Tony Robbins

https://calendly.com/

 

 

Sep 10, 2015

Andrew talks on the importance of planting digital flags and creating extra security measures to protect your business from possible domain seizures. The US believes all .com addresses are theirs and subjected to US law and taxes. The same can be applied to servers that are hosted on US soil. What should you do and what are the pros and cons if you were to host your website offshore? All of this and more on today's episode of The Nomad Capitalist Live.

 

Key Takeaways:

Andrew's Editorial:

[1:55] Where should you host your website and register your domain?

[4:05] If your servers are located in the US, you might be subjected to tax on your business.

[4:40] What are the pros and cons of hosting in the US?

[7:30] Pros and cons of hosting your website offshore?

[13:50] You never know when the IRS will audit you. A US server can get you into trouble.

[16:15] Where should you get your domain?

[18:55] Foreign domain names may not rank as highly in US/Canadian search engine results.

 

Interview:

[22:10] Andrew introduces Andrew Reich.

[23:15] How did Andrew R. get started in his entrepreneurial journey? 

[27:40] Did Andrew R. ever have an 'ah-ha' moment?

[29:15] What's it like living in China?

[32:40] What kind of lessons has Andrew R. learned while running a business and being a traveler?

[36:20] What flags has Andrew R. planted?

[38:30] Setting up companies in Hong Kong versus US? Which is easier?

[43:20] Has Andrew. R experienced any problems setting up bank accounts?

 

The Lighting Round:

[48:20] One business – Consumer electronics.

[49:00] One country – US or Canada.

[49:35] One book – How to Win Friends and Influence People by Dale Carnegie.

[50:40] One tool – Basecamp.

 

Listener Question:

[52:10] Would Andrew recommend opening a bank account in Singapore?

[53:05] Andrew does not like HSBC.

[53:50] Opening a bank in Hong Kong is difficult.

[56:20] Western countries will put even more pressure on foreign banks to tighten up their polices.

[57:55] Andrew does recommend Singapore, but hurry before their policies change.

 

Mentioned In This Episode:

http://nomadcapitalist.com/2013/12/15/top-5-best-countries-host-website-data-privacy/

https://www.cloudflare.com/

https://www.maxcdn.com/

http://wpcurve.com/

http://www.vital-it.ch/

http://www.intouch-quality.com/

How to Win Friends and Influence People by Dale Carnegie

http://nomadcapitalist.com/shop/lp-offer-best-offshore-banks

 

 

Sep 2, 2015

What would the world look like for US citizens living abroad if Bernie Sanders is elected President? Andrew cites an article he read in Forbes on some of the tax damages US citizens might face and other consequences to their income if Bernie were to be elected. Andrew also let's the audience know that he will be selecting 5 people to help them develop a bulletproof action plan to better secure their financial future and plant multiple flags.

 

Ben Wolford is a freelance journalist and the Founder of Latterly, a digital magazine for international journalism. Ben Wolford talks on working as a freelance journalist in New York City, why he and his wife moved to Dominican Republic, and some of the challenges they've faced along the way.

 

Key Takeaways:

Andrew's Editorial:

[4:00] It's possible every tax break for expats may go away when a new President in 2017 comes into power.

[5:10] What's the tax risk if Bernie Sanders wins?

[14:05] What happens if you make half a million a year? What does that mean for your taxes?

[19:20] Andrew believes the US is going to remain in bad shape.

[20:05] Bernie Sanders wants to tax your entire income for social security.
[24:45] Andrew will be selecting 5 podcast listeners and helping them develop a bulletproof action plan. Please email Andrew (at) NomadCapitalist.com for more info.

 

Interview:

[26:55] Andrew introduces Ben Wolford

[27:20] Ben shares his story.

[30:10] When was Ben and his wife's 'ah-ha' moment?

[34:15] How has living abroad helped Ben's business?

[37:55] If Ben was in the US, he would not have an opportunity to start his business.

[39:45] What kind of flags has Ben been planting?

[41:30] Tax preparations for freelancers overseas is not easy.

[43:20] What kind of challenges has Ben and his wife faced?

 

The Lighting Round:

[46:25] One business – Food truck.

[47:00] One country – Italy

[47:22] One book – Homelands by Stephan Faris

[48:10] One tool – Google Docs

 

Listener Question:

[49:45] Nomad Capitalist doesn't want you to hide money or do things illegally.

[50:15] What does Andrew think about the South American citizenship programs?

[52:05] Be careful who you trust.

[55:05] Where can you get a passport in six months?

[56:15] Getting a high-end hook up is not going to help you.

[57:45] If you're a US citizen and have some wealth, Andrew can help you.

 

Mentioned In This Episode:

http://nomadcapitalist.com/

Andrew (at) NomadCapitalist.com

http://www.forbes.com/sites/peterjreilly/2015/08/30/tax-planning-for-the-risk-of-a-bernie-sanders-win/

https://turbotax.intuit.com/

http://nomadcapitalist.com/2015/07/27/the-fastest-countries-in-the-world-to-become-a-citizen/

 

 

Aug 27, 2015

What does it really mean to be offshore and how much money are you losing by not going offshore? Andrew does the math for you and offers three tax scenarios for someone looking to save on their taxes legally. Remember, Andrew is not a lawyer or an accountant, so be sure to seek legal advise for your specific scenario over at http://nomadcapitalist.com/.

 

Chef Tim Tibbitts decided to open a fine dinning restaurant in the Bahamas, the first of its kind the island had ever seen. Tim talks on what that experience was like and if it's easier to open a restaurant business overseas compared to in Canada, where he's from. Tim also talks on the experience of getting his wife residency and touches on whether the Bahamas is 'too bureaucratic' on today's episode.

 

Key Takeaways:

Andrew's Editorial:

[2:00] What does it mean to be offshore?

[4:05] How much money are you losing by not going offshore?

[6:50] Andrew does the numbers for you.

[11:30] Remember, Andrew is not a lawyer.

[14:20] Not a US person and still want to leave your home country?

[17:40] Ireland's tax code is 40% over 34,000 euros.

[19:20] Don't want to leave the US, but still want to reduce your taxes?

[19:59] Andrew does a recap of the three tax scenarios.

[22:00] You can save a ton of money on taxes if you're willing to change your lifestyle a bit.

 

Interview:

[23:40] Andrew introduces Chef Tim Tibbitts.

[24:10] Why did Tim go from Canada to the Bahamas to open a fine dinning restaurant?

[26:15] Is it easier stepping up a restaurant business offshore?

[34:25] Does Tim recommend the Bahamas?

[36:30] Tim does a price comparison between the Bahamas and Canada.

[38:55] It's difficult for foreigners to come and have children in the Bahamas.

[40:25] What was the process for setting up Tim's wife's residency?

[42:30] Is the Bahamas bureaucratic?

 

The Lighting Round:

[45:40] One business Gourmet burger shop and/or wine store.

[46:15] One country Bahamas.

[46:45] One book - Don't Stop The Carnival by Herman Wouk

[47:45] One tool Prime Cost Wizard by RestaurantOwner.com

 

Listener Question:

[50:05] Can I exchange passports with someone else for money?

[53:15] Unfortunately the answer is no.

[54:45] Wouldn't it be great to exchange passports, though?

 

Mentioned In This Episode:

http://nomadcapitalist.com/

http://www.timtibbitts.com/

Don't Stop The Carnival by Herman Wouk

http://www.restaurantowner.com/

http://www.restaurantowner.com/public/department64.cfm

 

 

Aug 22, 2015

Andrew received a listener question that inspired him to write a Nomad Capitalist blog post. If you renounce your US citizenship, can you return to visit friends and family? The answer may surprise you. Andrew recommends that you understand the risks and whether or not they apply to you before making that decision. There are very few countries that have visa-free access to the United States and if you're planning to travel there regularly with a US passport, be prepared to experience some hassles.

 

Kisha Mays is the Founder of Just Fearless, a company that helps entrepreneurs build both national and global businesses. Kisha is also the author of From Failure to Fearless, which can be bought on Amazon. We find out how she got the entrepreneurial bug, why she decided to travel, and some tips on running a successful international business.

 

Key Takeaways:

Andrew's Editorial:

[2:15] Currencies are currently dropping.

[4:55] Purchasing property in countries where currencies are low can be very valuable.

[5:50] Email Andrew and let him know what you need help with.

[8:40] Please feel free to give Andrew feedback.

 

Interview:

[10:00] Andrew introduces Kisha Mays

[11:25] Why did Kisha decide to become an entrepreneur? 

[15:00] How did Kisha get into traveling with her business?

[18:20] Kisha talks why she went to Spain.

[20:35] How has Kisha diversified her business?

[21:25] What has Kisha's experience been with setting up her company in Hong Kong?

[22:50] Kisha recommends incorporating your company overseas and then operating in the US, if you want to.

[25:20] What kind of challenges has Kisha faced by having an international business?

[26:15] Kisha had a hard time starting her business in Thailand.

[27:30] What has made having an international business all worth while on a personal level?

 

The Lighting Round:

[30:20] One business – Tourist business.

[30:40] One country – Spain.

[31:10] One book – From Failure to Fearless by Kisha Mays

[31:35] One tool – Basecamp or Trello

 

Listener Question:

[33:15] If I renounce my US citizen, can I visit my family?

[35:40] There are 40 countries that let you go into the United States visa-free.

[37:55] What happens if you renounce your original citizenship once you have your second passport?

[39:50] The United States -might- grant visa-free access to 7-8 new countries.

[41:00] Understand if you renounce your US citizenships, you'll have the same visa restrictions as everyone else.

[42:30] There's no guarantee you can visit family or friends if you renounce your citizenship.

[44:00] Know the risks and understand if they matter to you or not.

[44:30] Feel free to contact us and let us know your story.

 

Mentioned In This Episode:

http://nomadcapitalist.com/http://nomadcapitalist.com/

Aug 12, 2015

The war on cash is trickling outside of the Western world and affecting places like the Caribbean, South American, and Asia. It is becoming more difficult to do a wire transfer from the United States to another country despite the money already being reported. If you own a significant amount of cash, then you should deeply consider moving it offshore to not one, but several different bank accounts overseas.

 

Kevin Chen is the co-founder of italki.com, an online language learning service where you can discover language teachers from all over the world. Andrew believes learning a new language could be an excellent step towards your flag planting strategy and talks to Kevin about doing business in Hong Kong and Shanghai.

 

Key Takeaways:

 

Andrew's Editorial:

[2:25] Do you love New York City? Well, you'd like Macao much better.

[2:45] Singapore has tighten the amount of cash you can bring in and out of the country.

[3:20] Andrew doesn't recommend putting your money in a briefcase and carrying it into a new country. It can be confiscated from you.  

[3:50] You could take roughly $30,000 Sing in and out of Singapore without it being taxed.

[5:05] The rules have now been changed to $20,000 Sing in cash.

[6:20] Carrying gold, cash, and other assets into Singapore is now not that attractive.

[6:25] Hong Kong and Switzerland have not changed their policies on cash.

[7:45] Accepting cash in the western world is very, very difficult.

 

[10:00] Hong Kong does not have a war on cash. 

[11:20] How do you get the money in/out of Hong Kong?

[14:35] Moving your money offshore and not keeping it in the US is what you should be doing.

[14:55] How do you move your money offshore?

[15:40] Wiring money, even reported money, is getting harder.

[15:50] Find a smaller boutique bank that's friendlier to other countries.

[16:45] Caribbean banks are having trouble getting money out.

[19:20] You need more than one offshore bank. Do not rely on just one bank account.

 

Interview:

[21:40] Learning a new language will help with your flag planting strategy.

[22:30] What was Kevin Chen's journey?

[25:10] Kevin believes there isn't a lot of personal freedom in the finance industry.

[26:30] What was Kevin's big 'ah-ha' moment?

[28:00] Why Shanghai?

[30:30] Chinese versus Filipino talent, is it better or worse?

[31:50] Why is Kevin's business based in Hong Kong when he lives in Shanghai?

[33:30] How could someone diversify in China?

[34:30] The cost of doing international business in China is raising.

[37:00] There is an entrepreneurial spirit in China.

[38:30] What's it like living in China?

 

The Lighting Round:

[39:25] One business – Connecting people to the Chinese world.

[40:15] One country – Taiwan.

[40:45] One book – Getting Things Done by David Allen

[41:20] One tool – Google apps. Gmail, Google docs, etc.

 

Listener Question:

[45:10] How do you get a second passport if you're born in a foreign country like Pakistan?

[46:15] Many second passport programs were developed specifically for foreigners and do not necessarily target just the US market.

[46:40] As long as you're not a criminal or a terrorist, you can get a second passport without a problem.

[47:20] Countries in Latin America are very open for second residency.

[48:45] Where you're born doesn't matter. What matters is where you live and your nationality.

[51:50] Europe will be an easier country to diversify in for someone of Middle Eastern descent than the Americas.

[53:15] Andrew would love to hear your stories. Feel free to email him.

 

Mentioned In This Episode:

http://nomadcapitalist.com/

The Best Offshore Banks Guide by Nomad Capitalist

https://www.italki.com/

Getting Things Done by David Allen

Aug 5, 2015

Singapore may seem like a great place to relocate to, but Andrew reminds the audience that it's not a tax haven. It's expensive to start a business in Singapore, especially when there are so many other options available. However, Singapore is an excellent wealth haven and a place to diversify your assets. Andrew does a comparison between Singapore/Malaysia and Singapore/Hong Kong.

 

Carol Merchasin makes her living off rental properties in Mexico and talks to Andrew about her journey from New York city to San Miguel, Mexico. Carol is the author of This is Mexico and she talks about some of the reasons why she moved to Mexico, the challenges, and much more on today's episode.

 

Key Takeaways:

Andrew's Editorial:

[2:00] Malaysia is a great country to live in.

[3:00] Andrew does a Singapore versus Malaysia comparison.

[8:20] What's the difference between Singapore and Hong Kong?

[9:35] Hong Kong is not as diverse as Singapore.

[10:50] If you're running a company in Singapore, expect to pay Singapore taxes.

[12:40] You need Singapore citizens to work for your company in Singapore.

[13:45] It's not recommended to start a company in Singapore unless you live there.

[15:15] Singapore is not a low tax country, but it is a wealth haven.

[19:00] It's not cheap to do business in Singapore.

[22:00] Feel free to contact us to get help setting up your offshore company.

 

Interview:

[23:55] How did Carol become an entrepreneur?

[26:15] Why did Carol start a business in Mexico?

[31:00] It's incredibly important to have the right lawyers, accountants, etc to make sure you're compliant with both US and Mexican law.

[33:10] It took seven trips to the IRS-equivalent offices before Carol could pay her taxes in Mexico.

[35:55] Why can't Carol do what she does in the United States?

[37:40] There's a huge expat community in San Miguel and there's a lot going on.

[38:10] What other challenges did Carol face by moving to Mexico?

[40:20] If Mexico is so great, why are Mexicans moving to the US?

[42:00] Mexicans are incredibly generous and family focused.

 

The Lighting Round:

[43:45] One business – Selling cheap food to the locals that they can then sell to foreigners.

[44:30] One country – Mexico.

[45:05] One book – Distant Neighbors by Alan Riding

[46:05] One tool – Facetime/Skype

[47:00] Carol would become a Mexican citizen.

[48:20] Mexico is based off of personal relationships.

 

Listener Question:

[50:30] We love answering your questions, please feel free to send them in.

[51:00] Can you get German citizenship through your German grandparents?

[52:45] Most countries consider your parents and not grandparents for citizenship by descent.

 

Mentioned In This Episode:

http://nomadcapitalist.com/2015/05/05/hong-kong-and-singapore-010/

This is Mexico by Carol Merchasin

We Aren't the World by Ethan Watters

Distant Neighbors by Alan Riding. 

Jul 29, 2015

The world is changing and it's changing fast. Do you have a backup plan for the growing entrepreneur economy? People from places like India are being forced to become entrepreneurs and are willing to work for low hourly fees. How can you keep up? Andrew announces his members-only workshop on how to grow an online business, build capital, and secure your future. Feel free to contact him for more information on the event.

 

Vincenzo Villamena runs an online tax business out of Colombia. He believes Colombia is the new nomad city in Latin America. He talks on how he made the switch from corporate life to moving to a completely different country. Medellin has become an excellent and safe city to live in and Vincenzo had no problem acquiring a visa within the first few weeks of living there.

 

Key Takeaways:

Andrew's Editorial:

[3:05] Before you go offshore, you need to have some sort of wealth or income.

[4:55] If you do not make a change to your income now, you will be thrown off the boat.

[7:00] In Taylor Pearson's book, The End of Jobs, Taylor says entrepreneurship is becoming the new normal.

[9:35] Andrew's mistake was not leaving the United States sooner when he had an established income.

[12:00] Do you have a plan when you aren't able to run your location-based business anymore?

[13:25] People in places like India are forced to become entrepreneurs.

[15:35] Don't listen to the politicians who say they can bring back 'more American jobs'. It's not possible.

[17:10] There will be a small members-only workshop hosted in Kuala Lumpur on Aug 27th..

[18:25] At the workshop, Andrew will teach you how to grow an online business.

[19:50] Email Andrew (at) NomadCapitalist.com for more info on the workshop.

[20:55] Not sure how to start? This workshop is for you.

[21:30] The ultimate safe heaven is knowing you're in control of your destiny.

 

Interview:

[23:00] Why did Vincenzo decide to become a tax entrepreneur?

[24:30] Vincenzo is glad he got the hands-on experience at a corporate company.

[26:20] Would working in the corporate world help your business?

[27:55] How did Vincenzo go from New York to starting his business in Colombia?

[33:00] Medellin is the new nomad city in Latin America.

[35:00] How is Vincenzo diversifying his business?

[38:00] Vincenzo was able to get his visa in a couple of weeks.

[40:55] There's Uber in Colombia.

 

The Lighting Round:

[42:30] One business – Something service-oriented targeting the expat community.

[43:05] One country – Italy.

[43:55] One book – The Four Hour Workweek by Tim Ferriss

[44:55] One tool – Solve360 and Asana

 

Listener Question:

[47:05] Rodrigo has a lawyer problem in Panama, what should he do?

[48:30] Lawyers can be slow to respond, especially in Latin America.

[49:55] Tips for finding a good lawyer in Latin America? Nomad Capitalist vets a lot of their lawyers. Contact Andrew or his team.

[51:35] Be patient. The government will be slow.

[51:55] Get help before you get started.

 

Mentioned In This Episode:

http://nomadcapitalist.com/

The End of Jobs - Taylor Pearson

https://onlinetaxman.com/

http://nomadcapitalist.com/2015/05/06/episode-006-offshoring-your-life-while-obtaining-a-mobile-but-rooted-lifestyle-with-gregory-v-diehl/

The Four Hour Workweek by Tim Ferriss

https://solve360.com/

 

https://asana.com/

Jul 15, 2015

Young couples have been asking Andrew about starting a family overseas and what the best options are for them. Andrew has written a comprehensive guide on 29 countries that will give citizenship by birth. He also talks on why having children in a foreign hospital will not only be cheaper, but the medical care will be just as good or better than what you will receive in the US. Michael Cobb is a successful business man and a global entrepreneur. He talks to Andrew on why he loves living in Nicaragua and why he believes Belize is a great option for offshore strategies.

 

Key Takeaways:

Andrew’s Editorial:

[2:00] How can we give our children the best opportunities?

[4:55] Have additional citizenships to pass on to your children.

[7:45] Medical tourism is a valid option and it can save you thousands of dollars. 

[9:15] Why not have a baby overseas? Get great care for your child and save on medical bills.

[11:45] There are 30 countries that give citizenships by birth.

[15:40] It's possible to give 2-3-4 citizenships to your children.

[18:10] The Norman Guide to Foreign Real Estate is coming out this Friday.

 

Interview:

[21:15] How did Mike Cobb become a global entrepreneur?

[27:35] Is Belize a good option for investing and living?

[32:30] The quality of life in Nicaragua far exceeds the quality of life in the US.

[34:25] The things that cost more in Latin America are electronics, cars, and imported goods.

[35:40] How do you get your partner to move to a foreign country with you?

[37:30] Countries like Panama, Costa Rica, and Nicaragua are only two hours away from Miami.

[39:05] Mike recommends an English language jurisdiction for offshore accounts.

[44:25] Having a good mindset is key when traveling around the world.

 

Listener Question:

[45:45] Is Georgia a good place to be a resident?

[46:45] Georgia has made residency easy. You can spend 360 days in the country visa free.

[49:00] Andrew recommends Malaysia and Georgia as great places to be a resident.

[50:00] Georgia passport isn't great right now, but having a residency there is a good thing.

 

Mentioned In This Episode:

http://nomadcapitalist.com

http://nomadcapitalist.com/2014/10/10/birth-tourism-countries-that-give-citizenship-by-birth/

http://www.ecidevelopment.com

Jul 8, 2015

There are two types of asset classes that are exempt from the IRS - precious metals and foreign real estate. There are great foreign real estate opportunities all across South America, Europe, and Asia where you can keep your life away from prying eyes. What makes foreign real estate so appealing is the ability to defer your capital gains tax as well as have a passive income.

 

Jeremy Levine, owner of La Escuela del Sol, talks Costa Rica and certain challenges with the locals. Costa Rica is an excellent place to live, but foreigners may find the laid back Costa Rican lifestyle challenging when it's time to get things done.

 

Key Takeaways:

 

Andrew’s Editorial:

[1:40] Let's talk foreign real estate.

[2:10] Look out for the new Nomad Guide on offshore real estate.

[2:40] When people move offshore they're looking for privacy.

[3:20] People also want currency diversification.

[3:45] There are only two types of asset classes that are exempt from reporting to the IRS.

[4:35] You can buy gold at Nomadgold.com.

[5:30] As long as your precious metals aren't stored in a bank, you don't have to report it.

[5:50] You also don't need to report foreign real estate.

[6:20] If you have a rental property, you do have to report the income.

[6:38] In the new Nomad Guide, it will explore 15 countries and the different foreign real estate options.

[6:55] Why should foreign real estate be of interest to you? 
[8:25] It doesn't matter how low the taxes are when you're from a country that taxes worldwide income.

[11:18] US citizens have to pay taxes on their income no matter where they live.

[12:55] You can do a 1031 exchange on foreign real estate.

[14:10] Andrew believes there are some big problems in US real estate.

[15:10] Yields in Panama City can be as high as 10%.

[17:05] The Nomad Guide on foreign real estate will be out next week.

[17:20] Foreign real estate is an excellent way to have property kept from prying eyes, have passive income, and defer your capital gains tax.

[18:10] The jurisdiction you live in and the jurisdiction you're a citizen of is what you should consider. 

[19:00] Many of the tax breaks you have at home are also applicable overseas.

[20:10] Lots of great real estate opportunities in Belize and further down south, Central and Eastern Europe, and some places in Asia.

 

Interview:

[22:30] Why did Jeremy move to Costa Rica?

[27:35] How did La Escuela Del Sol get started?

[29:40] How do you market fire dancing classes?

[32:25] Having good accountants is key to making sure you stay legal with the US and the country you live in.

[33:20] You get a $90,000 foreign income tax exclusion.

[34:10] You have 90 days to visit Costa Rica on a tourist visa.

[35:35] Jeremy had a friend who over stayed on his tourist visa and is now banned from the country.

[39:10] What kind of challenges is Jeremy currently facing?

[41:35] Follow your bliss. If you can work from anywhere, then why not work on a beach?

 

The Lightning Round:

[43:05] One business – Jeremy loves what he's currently doing.

[43:45] One country – Costa Rica.

[43:55] One book – Jeremy can't remember the name of the book.

[44:20] One tool – Microsoft Excel.

 

Listener Question:

[46:44] Alex asks about unreported offshore bank accounts.

[49:35] Remember, Andrew is not a tax professional.

[49:48] If you have unreported accounts, you need to get it in compliance. Talk to a tax lawyer.

[51:00] Ignorance to the law is no defense.

 

Mentioned In This Episode:

www.nomadgold.com/

http://nomadcapitalist.com

http://www.laescueladelsol.com/

Jul 2, 2015

There are so many new service based business ideas that will produce quick and easy revenue in the emerging markets of Southeast Asia. If you are considering starting your own business you need the advice of someone who looks at personalized, unbiased opportunities and can offer insight to the business and residency requirements in these markets. And if you are looking for tax exempt opportunities, Puerto Rico may not be your best option due to its controlling entity, the U.S. Government. Guest David Feldsott, talks of networking in Colombia and how his competitors aren’t the big travel companies.  

 

Key Takeaways:

 

Andrews Editorial:

[1:46] Mastermind event in July

[3:08] Upcoming E-Commerce boom in Asia 

[3:30] Add value to the local market to really be successful

[5:34] There is a wide gap in serving local markets

[7:50] Emerging economies are looking for ease of service

[10:41] It’s a bad idea to try and start a new business in the U.S.

[11:30] Reduce your business tax through Labuan 

[12:06] How do you bring in quick and easy revenue

[13:40] Target niche ecommerce opportunities

[13:50] Uber, a logistical fix for inefficiencies

[16:05] Western leaning locals with cash

[16:45] The Nomad Society is developing businesses

[17:27] 3 day workshop for 10 people to help build your online business

 

Interview:

[22:26] No low cost air carriers in Latin America

[23:25] From DC but I wanted to be an entrepreneur

[24:38] I put money away for travel and to start my business

[25:49] Relationship based business in Latin America

[26:46] Responsive Service requires a 5x’s the upcharge

[28:06] Colombia is central to the America’s and has a tech community

[31:06] Integrating Airlines in the future

[32:52] My competitors are not the companies you would think

[34:45] Legally incorporated in the United States

[36:30] Tech startup money still comes out of the U.S.

[37:56] A big fish in a little pond in Colombia

[40:31] I’m really not a pickup artist! 

[40:56] FB and Meetup groups helped me find people 

[41:52] The Nomad Society loves Medellin. Private members have an event in November 

 

The Lightning Round: 

[42:22] One business - Apartment Rental Service

[43:05] One country - Australia 

[43:40] One book - Never Eat Alone, The Hard Thing About Hard Things

[44:25] One tool - Rescue Time

 

Listener Question:

[46:40] Mannie wants to know Andrew’s thoughts on moving to Puerto Rico for tax advantages.

[46:58] For Peter Schiff it may be a good option. For average people, Andrew doesn’t like it. 

[48:55] Moving to Puerto Rico is not cheap

[50:00] The U.S. maintains control over Puerto Rico

[51:33] 183 days a year is the “stay” requirement

[52:44] Foreign Earned Income Exclusion outside of the US

[53:35] It may be a stepping stone but not a final solution

 

Mentions:

Forget China, There’s An E-Commerce Gold Rush in South East Asia

Uber

Nomad Capitalist

PanTrek

Meet Up

Never Eat Alone - Keith Ferrazzi

The Hard Thing About Hard Things - Ben Horowitz

RescueTime

Jun 24, 2015

If you value your wealth and freedom that a Western country affords be cautious of cheap and possibly illegal online offers of residencies and citizenships. There are legal ways to pay fewer taxes. If you have a business or are thinking about starting one, you are going to need solid planning and tax advice to ensure you are not wasting your money by paying taxes that are not required of you. In fact, in July plan to visit the Nomad Society’s private event or in August Andrew Henderson will be personally assisting offshore first timers, both in SE Asia. Visit Nomad Capitalist to find out more. If you are an expat don’t forget FBAR’s are due at the end of June.

 

Key Takeaways:

Andrew’s Editorial:

[2:05] How to pay taxes as a digital nomad

[3:38] 3 different types of tax systems

[4:46] Citizen based taxation - U.S. & Eritrea

[9:12] Residential based taxation - Most developed nations

[14:04] Territorial taxation - Emerging countries

[17:04] Reduce taxes and stay where you are at

[18:20] How do perpetual travelers pay tax?

 

Interview:

[22:20] Following in the family footsteps

[23:12] Existing money may decrease your drive

[24:20] It’s so expensive to live in New York

[25:53] No holidays working in social media businesses

[26:42] Automating your business allows for personal downtime

[27:43] When Erica landed in India

[29:12] Mumbai welcomes you if you just jump in

[30:52] English as a first language helps economically

[33:13] Kickbacks are commonplace when it comes to paperwork

[34:14] Get a local accountant and one in your home country

[36:49] Perfectly legal tax options if you live overseas

[37:32] Being based in India gives Erica street cred with international customers

[39:12] Being a foreigner has helped with local clients also

[40:47] Customer service challenges are typical

[42:13] Nomadic companionships

 

The Lightning Round:

[43:40] One business - Apartment brokering service

[44:32] One country - India

[44:52] One book - Meditation books

[45:46] One tool - Evernote

 

Listener Question:

[49:14] Ahmed asks “Why is it that the second passport process that you speak of is so much more expensive than what I see elsewhere online?”

[49:28] Blackmarket second passports, Graymarket second passports and other scams

 

Mentions:

NomadCapitalist

 

EricaTaylorPR

Jun 17, 2015

Citizens of the world do not be afraid to jump outside of your home country. It’s as simple as buying a plane ticket and landing in a country with freedoms you didn’t expect to be available to you. It is a waste of your time to let other people’s politics consume you. Being a nomad is freedom, lack of expected regulations and 100% legal. Some may not understand the whats, whys and hows of what you are about to accomplish but they will soon see the benefits. You will feel confident in knowing that you are keeping more of your own money. And when a country or aspect of living no longer meets your needs you can simply move on. It’s a financial, not an emotional decision.

 

Key Takeaways:

Andrew’s Editorial:

[2:11] How to divorce yourself from your existing situation

[4:52] Your mindset must agree with your Internationalization

[5:54] Political systems are built on tax money bricks

[10:23] I pay attention so I can be the expert and you can forget about it

[10:50] We are not low information citizens

[11:46] The new book on foreign real estate

[12:17] Budapest, Hungary

[14:18] Break free and make qualified decisions with your money

[15:40] Diversify your life, not just your money

[16:28] Not everyone understands flag theory or location independent businesses

[17:40] By all means learn an additional language

[20:18] Let Andrew’s team do the dirty work and find the right safe havens

 

Interview:

[23:49] George questions the traditional path after reading a book

[25:11] An offer I couldn’t refuse led me to Vietnam

[26:25] We need to kill the college message

[27:25] The big a-ha moment

[28:37] It’s not really a financial risk to go to a new country

[29:46] Digital nomads can pick up and move when they get bored

[30:53] We live in a time of freedom and opportunity

[31:24] The people give Vietnam it’s allure

[33:13] You may not know what freedoms you are missing

[36:44] Southeast Asia has a low cost of living which was great for my new business

[38:00] New laws on collecting VAT

[38:58] Frustrations of life in a developing country

[42:30] So few tourists learn Vietnamese

[44:04] Western guys with local girls and not the other way around

 

The Lightning Round:

[45:01] One business - Software

[45:33] One country - Western Europe

[46:00] One book - The Education of Millionaires 

[46:41] One tool - A pen and paper

 

Listener Question:

[49:12] You always talk about European citizenship options for ancestry, why not Asia?

[49:46] Two ways to get citizenship 1.) By the soil

[51:17] We have been trained to identify people's birthplace by physical features

[52:20] Citizenship by descent

 

Mentions:

Nomadcapitalist.com

Headstock Software

FourHourWorkweek

TheEducationofMillionaires- Michael Ellsberg

Jun 3, 2015

You are faced with the huge task of saving for your future. Retirement plan options and mutual fund names are thrown around like mayflies and you are supposed to catch the best one out of the air. The restrictions put on these accounts are not for your benefit and you don’t have access to your cash. Andrew’s team can sift through the muck for you and help you to go where you are treated best. In the interview, Brendan finds friendlier people in Chiang Mai but he may still end up back in Australia. Finally in your questions, Marlo’s primary concerns related to  moving overseas are social security and healthcare. Currently in his 60’s, will he be able to get over the stigma that tv has taught him about offshore living and investing?

 

Key Takeaways:

Andrews Editorial:

[2:30] A plethora of retirement plans

[3:48] Is your money growing the way that it should be?

[4:49] Andrew is a true nomad

[6:11] Don’t let the match lure you in

[7:20] The offshore IRA

[7:48] Have access to your cash

[8:29] The government can change the rules when it suits them

[9:54] Territory restrictions can be costing you a fortune

[12:00] Quit funding your IRA

[13:00] Countries are broke it’s open season on your investment account

[14:45] The double penny example

 

Interview:

[17:39] The Didgeridoo Dojo

[20:10] There isn’t physical access to lessons

[21:25] Brendan’s backstory

[23:10] We went from services business to a product business

[24:02] Forum based marketing and SEO

[26:20] No A-ha moment led to Thailand

[28:20] Why Chiang Mai? Dynamite Circle

[30:00] The comfort of home

[31:40] The key is being outside of your home country

[32:20] The merchant bank situation

[33:16] The bank deposit tax

[34:30] Citi has the worst customer service

[35:01] Growing the business in Thailand has been easier than I thought

[36:45] Less tech savvy people make better clients

[38:51] Drop ship competition friction in Thailand

[42:40] Signing bigger deals must be done in person

[45:23] People are so friendly and open in Chiang Mai

 

 

The Lightning Round:

[47:40] One business - Catering to the Nomad Scene

[48:22] One country - Australia

[48:35] One book - Living the 80/20 Way

[49:19] One tool - Zendesk & Zapier

 

Listener Question:

[55:22] Marlo asks “We are concerned about Medicare and Social Security but we want to live overseas. What do you recommend?”

[55:50] Health care is not just a senior concern

[57:06] International Medical Tourism can provide quality care

[58:44] Take the whole family to where they are treated best

[59:51] M2H - Malaysia's My second home program

 

Mentions:

BarefootRadio

TheSearchEngineShop

DidgerydooDojo

PredoMediaGroup

DynamiteCircle

Eway

May 27, 2015

Politicians are nuts. They want all of your money, investments and transfers to be trackable. They want to find a way to take what you have. Gold confiscation, De Facto confiscation is a reality and possibly the wave of the future. You must diversify, whether it’s in gold, precious metals or real estate. And Andrew’s advice to a listener question, going to a company’s store is the best way to get a SIM card, just don’t forget your passport.  

 

Key Takeaways:

Andrew’s Editorial:

[1:46] Politicians can decide how the world works

[2:32] Residency in Spain

[4:32] Buying and storing gold offshore

[7:00] Governments are getting smarter

[8:02] A war on cash in Europe

[9:14] Gold, Silver or precious metals

[11:10] De Facto confiscation

[12:36] A fan of Singapore for gold storage

[13:18] Byzantium in the Cayman Islands

[16:30] Asian real estate markets

 

Interview: Expat Dad in Bangkok, Mike Darnell

[20:23] Mike’s journey

[22:16] Can I deal with the worst case scenario?

[23:44] The startup scene in Israel

[26:10] Mike’s big a-ha moment

[27:45] A company brought me to Thailand

[28:42] Social Commerce for entrepreneurs

[30:05] Thailand is a booming economy

[32:00] You need patience to get a Thai corp set up

[36:11] Tips for expat families

[37:10] A hurdle of cross cultural communication

 

The Lightning Round:

[39:16] One business - An Israeli omelette

[39:53] One country - Thailand

[40:13] One book - Thinking Fast and Slow

[40:48] One tool - Base CRM 

 

Listener Question:

[42:52] Wayan wants Andrew’s advice on SIM cards

[44:30] Your passport info just for a SIM card

[45:25] Go to the brick and mortar store

[46:35] A home base and a phone with 2 SIM card slots

 

Mentions:

Airbnb

The Nomad Guide to Offshore Gold

Bullion Star

Byzantium.ky

Vimi.co

Base CRM

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