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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: 2016
Dec 21, 2016

As the year comes to an end, Andrew appears for a solo show, to discuss some of the main lessons he’s learned in 2016. In total, he has had four big lessons he’d like to share with his audience today. If you’re like him, and see inspiration everywhere you go, the most important thing you can do is write down your thoughts on a piece of paper, and determine which path makes the most sense for your next year goals and desires.

 

Key Takeaways:

Andrew's Editorial:

[1:35] There’s no guest today, but Andrew has four important lessons he’s learned throughout 2016, as this year slowly winds down.

[4:50] If you’re someone who has lots of ideas, it’s important to sit down and figure out the agenda for the next year.

[7:30] The dreams and desires that you want today, aren’t going to happen overnight. Start now.

[9:25] There’s just something magical about writing your goals down on a pen and paper, not a computer.

[13:25] Lesson one: This year’s theme was abundance.

[14:45] Andrew is not here to convince you.

[14:55] If you’re happy with one passport, and paying taxes, then perhaps you don’t need Andrew and his services.

[17:30] Andrew is not going to host any more conferences for the public.

[18:55] Andrew wishes he had an abundance mindset earlier on in his entrepreneurial career.

[22:45] Focus on the value that you’ll get for that high-ticket price. Don’t focus on just the expense.

[23:05] Lesson two: Work towards the end principle.

[23:40] When you work backwards, you eliminate the ‘shiny object syndrome’.

[27:20] If you have to, fill the bad stuff with good stuff. If not, the bad stuff will just come back!

[30:25] Lesson three: Trust.

[31:10] How do you know you can trust this merchant/supplier/etc?

[34:40] Andrew is your guinea pig.

[35:35] Andrew realizes that he didn’t want to trust people.

[37:20] Having trust in the right people is the right thing to do. It will save you time!

[38:05] What are you doing in your life that is holding you back from trust?

[39:55] Lesson four: Are you happy?

[43:55] You have to run towards what you want.

[47:15] If you don’t want to chase shiny objects, then don’t listen to someone who only sells shiny objects.

 

Mentioned in This Episode:

www.nomadcapitalist.com

Email: Andrew@NomadCapitalist.com

 

Dec 16, 2016

It seems everyone in the U.S. is worried about fake news, but there is something much more sinister going on, and that’s censored news. Andrew recently experienced this when the Huffington Post decided to feature him in an article, and it subsequently got taken down within hours of it being posted. Yes, it’s unfortunate Andrew got banned for presenting an alternative way of living, but actions like these lead curious people down the wrong, and often unethical, path.

 

Key Takeaways:

Andrew's Editorial:

[1:40] Let’s talk about the fake news that’s been circulating around lately.

[2:20] We can’t have any fake news…

[4:25] Andrew explains what recently happened to him and his company.

[6:40] Andrew was featured in the Huffington Post … and then they removed the article.

[11:35] Just as fake news is prominent, censored news is too.

[13:05] The lack of good resources and information leads people down sketchy roads.

[13:40] You can find the legal way to do it. You can find the moral way to do it!!!

[18:50] Email Andrew your thoughts!

 

Interview:

[22:15] Why did Andrei become an entrepreneur?

[29:00] Andrei talks about the process to get Canadian citizenship.

[32:50] Why is Russia simpler than Canada?

[36:10] What has Andrei been able to achieve in Canada that he couldn’t do in his home country?

[37:40] What challenges has Andrei faced while living in Canada?

[40:05] How did Andrei convince his wife to leave Russia?

 

The Lightning Round:

[41:50] One business — Uber.

[42:55] One country — NA.

[44:05] One book — Rich Dad Poor Dad, by Robert Kiyosaki.

[44:40] One tool — PhraseExpress.

 

Listener Question:

[46:40] Which country caused Andrew to have the biggest failure?

[48:15] There’s no such thing as ‘failure’. It’s a mindset thing.

[51:55] However, with that being said, failure happens when you’re confused and have too much going on.

[53:45] You either succeed or you learn.

 

Mentioned in This Episode:

www.nomadcapitalist.com

Email: Andrew@NomadCapitalist.com

Andrew Banned from Huffington Post

Rich Dad Poor Dad, by Robert Kiyosaki

E-Myth, by Michael Gerber

Built to Sell, by John Warrillow

Phraseexpress.com

Trademarkfactory.ca

Dec 9, 2016

Young nomads who hope to have children one day are concerned about the kind of life they’d have to have in order to properly raise them. Andrew’s motto at the Nomad Capitalist is, “Go where you’re treated best.” and this saying doesn’t change when you have kids. Why go back to your home country to raise a child in a school that doesn’t teach your children anything about life and the world as we, us nomads, know it?

 

Key Takeaways:

 

Andrew's Editorial:

[1:30] More and more people are getting interested in the nomad lifestyle.

[1:50] As more people see that the option is available to go where you’re treated best, more people will end up choosing it.

[2:35] What happens to the nomad lifestyle once you have kids?

[4:45] Andrew is still trying to figure out that answer.

[5:15] Traditional schooling might not be the must-have/right option for a nomadic child.

[9:35] The reason why nomads are here and traveling is because we’ve realized the old rules don’t apply anymore.

[11:40] If you look at the test scores at some of these high-end ivy league schools, the kids aren’t learning anything!

[13:15] Public school over the years have really, really, really gone downhill.

[14:00] What is the U.S. best in, other than spending $$$ on the military? Why do you want to move back and educate your children there?

[16:25] You can continue your nomad lifestyle with a child!

[18:25] You have to go where you’re treated best! Having a child does not change that.

[19:40] Remember, you don’t have to conform to anybody’s rules!

 

Interview:

[21:55] What’s currently going on in Lisbon, Portugal? Why did Dan and Stevie go there?

[22:55] How did Dan get started as an entrepreneur?

[24:25] Dan believes there’s a real opportunity in crowdfunding in both Europe and Asia.

[24:45] How did Stevie get started as an entrepreneur?

[27:40] What was Dan and Stevie’s big ah-ha moment? 

[31:25] What kind of flags has the couple planted in Europe?

[33:40] How does the UK and Portugal compare to each other?

[38:55] What has been some of the biggest challenges the couple has run into?

 

The Lightning Round:

[44:15] One business – Speciality food stores.

[45:05] One country – U.S., but answer may change.

[46:00] One book – Cookbook from the country you’re living in. 

[46:55] One tool – Transferwise.

 

Listener Question:

[50:45] What does Andrew recommend for holiday gifts to a nomad?

[52:25] Donate!

[56:20] Andrew’s convenience is the value, not necessarily the cost of the item.

[58:10] Please donate in Andrew’s name instead of giving him a gift.

 

Mentioned in This Episode:

www.nomadcapitalist.com

www.aconversation.com

www.myrtlegroveventures.com

 

 

Email: Andrew@NomadCapitalist.com

The House of Morgan by Ron Chernow

Transferwise.com

Earthclassmail.com

 

Dec 2, 2016

Andrew is getting ready to leave Montenegro, and has some unique observations about the local market, as well as thoughts about how competitive the market is. When you look at places like Montenegro, it does lack some of the basic comforts of ‘home.’ In fact, there’s no one providing these services, which makes it a prime opportunity to enter a market that does not even have a competitor.

 

Key Takeaways:

Andrew's Editorial:

[1:50] Let’s talk about competition.

[5:50] The cheapest property that Andrew has purchased in Montenegro has been €33,000.

[9:25] Andrew talks about the first time he purchased property in Georgia.

[12:20] Montenegro doesn’t have a lot of the comforts of ‘home,’ like fresh green smoothies.

[14:50] You can’t always know where the path is going to take you, but that’s part of the journey.

[18:40] Andrew personally wouldn’t even try to be on AirBnB in the U.S.

 

Interview:

[22:45] Why did Eli decide to become an entrepreneur?

[23:55] What was Eli’s aha moment?

[26:05] Eli wasn’t very good at his corporate jobs, so how was his transition from employee to entrepreneur?

[28:25] Why did Eli choose to live, and run his business, in Israel?

[32:05] As Eli travels often, how has he been able to diversify himself, internationally?

[36:10] Are there any downsides to being based in Israel?

[37:45] There’s a lot of innovation happening in Israel right now.

 

The Lightning Round:

[41:55] One business – A co-working space.

[42:20] One country – Croatia

[42:45] One book – Vagabonding, by Rolf Potts

[43:20] One tool – ScheduleOnce

 

Listener Question:

[45:25] Jack, who is not a U.S. citizen, will be moving to the U.S. What kind of offshore account should he open to protect his assets?

[49:15] You don’t need to hide your money!

[52:20] There is no reason to hide or do things illegally with your money.

 

Mentioned in This Episode:

Nomad Capitalist

Email: Andrew@NomadCapitalist.com

LingoLearn

StartupBlink

Vagabonding, by Rolf Potts

ScheduleOnce

Nov 25, 2016

Today, Andrew asks if you, the entrepreneur, feel significant in your business. If you don’t, then perhaps now is a better time than any to sit down and consider what would make you feel significant. Why is this question so important? Well, if you want to be an industry disruptor, then there’s a lot of opportunities in less-developed countries to break into a market and be significant.   

 

Key Takeaways:

 

Andrew's Editorial:

[1:20] As an entrepreneur, do you feel significant based on where you live and where you do business?

[3:40] Why is Andrew asking you this question? Why is this question important?

[8:00] The people of Montenegro are genuinely interested in nomad principles.

[8:45] As you all know, Andrew is no fan of big government.

[10:50] If you want to be significant in your business, there’s no better way than to be located in places like Montenegro.

[13:15] Montenegro wants to attract more investments.

[17:00] If you’re looking at Southeast Asia, then consider also looking at parts of Europe.

 

Interview:

[19:35] Why did Rob become an entrepreneur?

[22:50] Was it hard for Rob to drop out of college, and pursue other things?

[24:10] Rob talks about Jay Leno, and how he handled his money.

[27:50] What was Rob’s big ‘aha’ moment?

[29:25] You can live in so many places around the world on far less than what you can in the U.S.

[32:00] Step one is to develop a skillset that allows you to make your own schedule.

[32:30] Most millionaires have 7 streams of incomes.

[35:00] So many people are daydreamers, not doers.

[36:15] How has traveling helped Rob achieve his dreams, and build businesses?

[37:40] How did Rob’s wife react to his ‘crazy idea’?

 

The Lightning Round:

[40:00] One business — Teaching English to tourists.

[40:55] One country — Australia

[42:10] One book — How to Win Friends, by Dale Carnegie and Never Eat Alone, by Keith Ferrazzi

[42:20] One tool — Google Docs

 

Listener Question:

[45:15] What currency does Andrew recommend?

[45:25] Andrew talks about the Indian Rupee.

[47:00] The Polish Zloty seems to be a strong currency.

[47:45] If you’re holding U.S. dollars, it’s an excellent time to get into other currencies.

 

Mentioned in This Episode:

www.nomadcapitalist.com

Email: Andrew@NomadCapitalist.com

www.moneynomad.com

The End of Jobs, by Taylor Pearson

How to Win Friends and Influence People, by Dale Carnegie

Never Eat Alone, by Keith Ferrazzi

 

Nov 18, 2016

The big question everyone is asking is, “What will President Trump do to the tax code?” Andrew doesn’t buy into the big tax hypes because George W. Bush was believed to be a big tax cutter, and he only chopped it by 4%. Will the U.S. be a place where you’ll get treated best, especially on the tax front? It’s too early to tell, so it’s best not to speculate. Work with what you have today, because no one really knows what Trump will or will not do.

 

Key Takeaways:

Andrew's Editorial:

[1:25] What will President Trump do to the tax code?

[1:50] Does Andrew think the U.S. will be a place you can go, where you’re treated best?

[9:25] Why would you want to leave our great country?

[12:25] Will there be residency-based taxation in the U.S.? Andrew doesn’t think so.

[17:00] Will the U.S. be better under Trump? Maybe, but Andrew doesn’t believe in the hype.

[19:25] If taxes were 10% in the U.S., then yes, pack up your stuff and go home.

[19:55] If Trump does something great, then consider moving back home when he does. But as of today, he hasn’t done anything yet.

[20:20] It doesn’t make sense to start speculating on what Trump might do. Live your life based on today’s rules.

[20:40] Are you a Nomad Capitalist or are you a Patriot?

 

Interview:

[23:30] Why did Sean become an entrepreneur?

[27:00] Sean has over 7 years worth of content and you can see his transition from clueless financial analyst, to being an expert nomad.

[33:45] Don’t be afraid to experiment.

[36:45] What kind of flags has Sean planted?

[37:55] What’s the best lifestyle that works for Sean?

[40:25] How does Sean manage being with a location-dependent person?

[45:00] What’s Sean’s next step in life?

 

The Lightning Round:

[48:10] One business – Immigration services.

[49:00] One country – U.S.

[49:30] One book – Influence: How and why People Agree to Things by Robert Cialdini

[50:20] One tool – Focus at Will

 

Listener Question:

[52:15] What’s Andrew’s favorite economic citizenship program?

[54:50] You shouldn’t spend half of your money on an economic citizenship.

[58:00] If you’re a U.S. citizen, who’s making $1-2 million a year, an economic citizenship may be a good option for you.

 

Mentioned in This Episode:

www.nomadcapitalist.com

Email: Andrew@NomadCapitalist.com

www.moneynomad.com

www.locationrebel.com

Influence: How and why People Agree to Things by Robert Cialdini

www.focusatwill.com

Nov 11, 2016

Andrew keeps reading headlines that state that over 50% of U.S. citizens do not have an emergency fund. The numbers sometimes vary, but this week’s headline read 62% of Americans did not have $1,000 for an emergency. Although, $1,000 is very little in retrospect, Andrew has met highly successful entrepreneurs and digital nomads who also fall into this same category. Do not fall victim to the Western mentality. You should always save for a rainy day!

 

Key Takeaways:

Andrew's Editorial:

[1:45] Did you know 62% of U.S. citizens do not have $1,000 to pay for an emergency?

[2:40] Andrew admits that the picture isn’t prettier in other countries, like the UK, when it comes to their emergency fund.

[3:25] Andrew believes there are nomads out there who fall into a similar category.

[4:45] No one really wants free university outright, but everyone wants more and more free stuff.

[7:20] As more and more people do not have $1,000 for emergencies, you’ll begin to see those people asking the government for more things.

[8:15] If you travel to Asia, you’ll see that many families, who make less than Westerners, have plenty of money for an emergency.

[9:05] The world is shifting, so how can you prepare for it?

[12:20] As a nomad traveling the world, it’s very easy to fall into vacation mode, and spend additional money.

[13:45] If you’re earning more than 300k+ a year as a Digital Nomad, and you don’t have 50k lying around, then something is wrong.

[15:00] Andrew doesn’t buy into Elon Musk’s philosophy on business and cash.

[16:00] Many nomads do not have $2,000 laying around if they need to buy a new computer on the fly.

[18:55] Andrew’s focus next year is how to build a more passive income.

[21:00] Do not fall prey to the same things people in the West fall prey to.

 

Interview:

[25:50] How did Andre start his entrepreneurial journey?

[28:30] What was Andre’s aha moment, to quitting?

[33:50] Andre talks on how he managed his nomadic lifestyle when he met his wife, who doesn’t travel as much.

[38:00] Why did Andre set his business up in Spain?

[42:00] What kind of challenges has Andra run into, while setting up a business in Spain?

[45:15] Andre plans to expand his business to other countries.

 

The Lightning Round:

[45:55] One business – A coffee house.

[46:35] One country – Portland, Oregon.

[46:55] One book – Manifesto for the Earth, by Mikhail Gorbachev

[47:40] One tool – EzTix

 

Listener Question:

[49:25] Please subscribe on iTunes!

[49:45] What is the most overlooked thing, when it comes to choosing a new location?

[51:25] Andrew currently loves what Cape Town has to offer.

[53:30] So, what’s a deal breaker for a digital nomad? The internet, and Cape Town has awful internet right now.

 

Mentioned in This Episode:

www.nomadcapitalist.com

Email: Andrew@NomadCapitalist.com

www.barcelonaeatlocal.com

Manifesto for the Earth: Action Now for Peace, Global Justice and a Sustainable Future, by Mikhail Gorbachev

 

Oct 28, 2016

Andrew conducts an interesting experiment during this week’s introduction. Is there a strong correlation between countries with friendly business practices, and countries with low debt to GDP? Andrew takes a look at several countries, and their GDP rates, on this week’s episode. Stay tuned till the end of his segment to find out the answer to this question!

 

Key Takeaways:

Andrew's Editorial:

[2:10] Greece is currently one of the worst three countries, in terms of debt to GDP.

[3:50] If you go to Montenegro, the Balkans, they really roll out the red carpet for you.

[5:40] Bulgaria has one of the lowest debt to GDP in the EU.

[6:10] Andrew reads off some of the countries that are doing well, when it comes to their debt.

[7:45:] Andrew wants to see if he can make a correlation between countries with friendly business practices and countries with good GDP.

[10:00] Andrew believes Chile has the right culture, but their economy has reached a peak, and it will drop a little bit.

[13:45] Andrew notes that the countries with good GDP are not located in the West.

[15:40] In the U.S., no matter what happens, it will never go down to a 10% flat corporate and personal tax rate. Trump has offered a 15% corporate tax rate, and economists say that it can’t be done.

[16:25] Andrew doesn’t say this to sound angry, but he believes the U.S. is the most corrupt country on earth.

[19:00] Conclusion: In many cases the objective business-friendly numbers and the public finances, in countries where they treat their people the best, do match up!

[20:55] The state of California is like a Kardashian. Andrew explains further.

 

Interview:

[23:15] Why did Ashley want to be an entrepreneur?

[25:50] Ashley can do a majority of her business by computer and by phone.

[26:45] A majority of Ashley’s business is specialized in the sharing economy.

[27:55] If you want to be a disrupter, you just have to do it! Ashley has stopped asking for permission.

[28:55] Why did Ashley decide to go overseas? Why not stay in Texas doing what she’s doing now?

[30:35] When Ashley founded her business 7 years ago, she started it in Bahrain.

[32:00] Why did Ashley set up shop in Bahrain?

[32:55] It was easy for a woman to do business there.

[34:55] How does Ashley differentiate herself in such a competitive market?

[38:00] Why did Ashley move to London?

[39:00] Ashley has found it more difficult to be a company in the UK than in Bahrain.

[43:35] Ashley went from living in a nice big apartment in Bahrain, to living in a small box. The lifestyle is very different between the two countries.

 

The Lightning Round:

[47:40] One business – Insurance.

[48:10] One country – Stockholm, Sweden.

[48:45] One book – My Struggle by Karl Ove Knausgaard

[49:20] One tool – Google Flights.

 

Listener Question:

[51:20] Is it best to renounce U.S. citizenship and keep Brazilian citizenship? What options are out there?

[52:45] If your parents have more than one citizenship, look into that and see if you have more passport options!

[57:25] You’re in good shape if you have both U.S. and Brazilian citizenship.

[59:00] If your passport has visa-free access to Europe, you’re in good shape!

 

Mentioned in This Episode:

www.nomadcapitalist.com

Email: Andrew@NomadCapitalist.com

www.hmriskgroup.com/

My Struggle, by Karl Ove Knausgaard

Oct 20, 2016

Andrew has discussed in the past why going for the cheapest and/or fastest passport might not always be the wisest decision, but what about acquiring an economic citizenship? For Westerners, particularly U.S. citizens, who are looking to pay less in taxes, leave the U.S., and live a digital nomad lifetime, you may want to consider your options, and take actions on them, sooner rather than later.

 

Key Takeaways:

Andrew's Editorial:

[1:55] The most popular articles on Nomad Capitalist are about how to get the fastest citizenship.

[2:15] Are you a successful business owner paying too much in tax?

[3:35] The idea of paying for a citizenship seems distasteful for many Westerners.

[4:30] What kinds of people should renounce their U.S. citizenship?

[7:20] Andrew believes that in the future you will see a lot more citizen-based taxation in other countries, like the way the U.S. has it.

[7:45] It’s not easy to leave Norway.

[12:15] If you’re a Westerner or U.S. Citizen looking to get a 2nd citizenship within months, then Dominica may be your best bet.

[14:15] If you’re planning on leaving the U.S., then you may want to apply for an economic citizenship now, before you move overseas.

[18:05] Dominica currently offers the best provisions for a Westerner.

 

Interview:

[21:00] Why did Waleed become an entrepreneur?

[25:20] Most of Waleed’s friends from Egypt are traveling the world, too.

[26:10] Why did Waleed move to Belgrade, Serbia?

[29:00] What kind of flags has Waleed planted so far?

[31:30] Why did Waleed set up his company in the UK?

[33:05] Why does Waleed like Uruguay?

[34:20] What has Waleed achieved outside of his home country, that he wouldn’t be able to do if he still lived there today?

[36:15] Waleed recently married a Serbian citizen.

 

The Lightning Round:

[38:35] One business – Doughnut shop.

[39:10] One country – N/A

[39:55] One book – What's Wrong with Eating People?, by Peter Cave

[41:05] One tool – N/A

 

Listener Question:

[43:50] What’s the biggest mindset recommendation for someone getting started?

[45:00] Mindset helps you get things done!

[45:30] A scarcity mindset can lead us to make the wrong decisions.

[47:20] Accept personal responsibility for your actions.

[51:40] What’s holding you back?

[53:20] Andrew has been the guy that points the finger, when it’s really his fault for not taking action sooner!

[55:35] The problems go away when you approach things the right way.

 

Mentioned in This Episode:

www.nomadcapitalist.com

Email: Andrew@NomadCapitalist.com

Four Case Studies for Renouncing US Citizenship

www.panx.io/

What's Wrong with Eating People? by Peter Cave

 

Oct 13, 2016

As Andrew watches the Presidential Election one thing comes to mind: The system will not change. U.S. politicians want to make it seem like nomad business owners are traitors for hiring outside talent, but the reality is, the United States does not provide good enough incentives for so many business owners. It only makes sense to seek out better treatment elsewhere and hire overseas.

 

Key Takeaways:

 

Andrew's Editorial:

[2:15] Based on everything that’s going on in the United States right now, we’re not going to change the system.

[4:15] There are incentives to moving jobs overseas.

[5:50] When you hire U.S. people, you are subjected to U.S. tax, even if you don’t have a U.S. business.

[6:15] Let's not blame the corporations.

[6:30] Andrew and so many other nomads will not hire U.S. people living in the United States.

[8:00] Politicians want to make it seem like nomad business owners are traitors for hiring from outside the United States.

[9:00] With that said, U.S. citizens tend to be better trained.

[12:00] It’s a shame we have to hire talent outside of the United States, but that’s where we are treated best.

[14:55] Setting up an offshore company can be beneficial for U.S. citizens.

[15:25] You may not be able to get a Singapore bank account in the next three years.

 

Interview:

[19:00] Why did Neil decide to become an entrepreneur?

[21:45] When Neil made the leap to become self-employed, what was going through his mind?

[24:20] How did Neil make the transition from self-employed to entrepreneur?

[26:30] How do you really know when is the right time to start?

[28:50] If Neil could go back in time, he wouldn’t have gotten his PhD.

[30:25] How has Neil set up his business?

[32:20] What flags has Neil planted so far?

[33:20] Neil has had terrible banking trouble because he has an Indian passport.

[34:35] Why did Neil decide to outsource to Eastern Europe as opposed to Southeast Asia?

[38:20] If Neil was still in India or London today, what would he not be able to achieve?

[39:50] Neil talks about the relationships he’s developed in Finland.

 

The Lightning Round:

[42:00] One business – Omelette restaurant.

[42:40] One country – Indonesia.

[43:00] One book – Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime, by MJ DeMarco.

[43:20] One tool – Spotify.

 

Listener Question:

[46:25] Is Belize still a good place for a digital nomads to go offshore?

[47:25] Belize still has tax. It’s not a zero tax country.

[47:40] Andrew likes Belize.

[49:45] Unfortunately, if you’re from the West, you’re going to have a hard time doing it legally.

[51:25] Cayman Islands is another option, but they’re not cheap and they do not want cheap people.

[52:40] Countries all around the world don’t really trust Belize.

[53:35] Andrew would rather pay slightly more tax than deal with the headaches Belize offers.

[56:0] Remember, we want to be legal and Belize has a bad rep.

 

Mentioned in This Episode:

www.nomadcapitalist.com

Email: Andrew@NomadCapitalist.com

www.jobrack.eu/jobs

Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime, by MJ DeMarco

 

Oct 6, 2016

Andrew is currently visiting Bulgaria and has some thoughts to share with his Nomad Capitalist audience on the pros and cons of Bulgaria. There are benefits to Bulgaria, but like everywhere else, there are some drawbacks to consider. Andrew believes Bulgaria is an excellent place for Nomads who want to be in the EU, but do not want to pay high EU taxes.

 

Key Takeaways:

Andrew's Editorial:

[2:45] What’s Andrew’s take on Bulgaria?

[3:45] Bulgaria has one of the lowest tax rates in the EU.

[4:45] Andrew avoids Romania.

[7:35] Bulgaria is making efforts to clean up corruption.

[9:35] Bulgaria is a place for people who want to be in the EU and do business.

[10:10] So, what does Andrew think of Bulgaria?

[14:50] You can buy agricultural land very cheaply in Bulgaria.

[17:10 There is a way to go where you’re treated best!

 

Interview:

[19:10] Why did Monika want to become an entrepreneur?

[20:35] Monika hated having a full-time job.

[23:55] What was Monika’s ah-ha moment?

[26:00] Sometimes you just have to go and fix things as they crop up.

[26:40] What stops people from taking action?

[30:35] Bulgarians are very eager to explore the world.

[31:30] Why did Monika move from Bulgaria to Australia?

[32:30] What are some of the benefits of Australia?

[33:25] If Monika was running a big business, she’d move someplace else.

[34:00] What advice would Monika give to those who want to move to Bulgaria?

[35:55] Is Monika making a sacrifice by raising her family in Australia?

[37:05] Why does Monika wish to move to Central America next?

[37:20] What kind of problems has Monika run into while running her business?

[38:40] What has been some of the biggest successes Monika has achieved in Australia that she couldn’t have done in Bulgaria?

 

The Lightning Round:

[39:40] One business – Personalized services.

[40:35] One country – Costa Rica.

[41:45] One book – Will It Fly?, by Pat Flynn.

[42:20] One tool – Click funnels.

 

Listener Question:

[44:35] What is the ideal travel schedule for someone who wants to live as a Nomad Capitalist?

[49:25] 90 days in one location seems to be a comfortable number for most Nomads.

[51:45] Don’t leave the herd back home only to follow another herd elsewhere —  Discover on your own.

[52:35] A ten day schedule is the best approach.

 

Mentioned in This Episode:

Nomadcapitalist.com

Email: Andrew@NomadCapitalist.com

Luggageandlaptop.com

Will it Fly? By Pat Flynn

Clickfunnels.com

 

Sep 29, 2016

Andrew dives in on some of the common questions he receives about taxes. People are always wanting to reduce their taxes, but sometimes they're completely unwilling to change their current lifestyle to make that happen. How can you reduce your taxes without moving out of the country? Well, the short answer is you can't. At the end of the day, it boils down to what kind of freedoms you want and why you really want to reduce your taxes.

 

Key Takeaways:

Andrew's Editorial:

[2:10] Let's talk about taxes.

[4:00] Countries like Australia are ruling more in favor of the tax man.

[4:20] It's subjective as to whether or not you really did leave the country or if you're just avoiding tax.

[4:30] Even if you've left the country for more than 183 days a year, this doesn't always mean you're a taxable non-resident.

[6:45] How can I pay nearly zero tax like the big corporations do?

[7:50] Andrew does not recommend hiding your money from the government. Nothing good will come of that.

[12:10] How does Google, and other big companies, diversify?

[15:45] How do you save taxes without moving?

[17:35] Like California? Then you might like Chile.

[22:30] But I can't leave the US and I want to reduce my tax bill!

[23:10] So, why do you really want to pay less tax?

[25:10] Andrew has never been to Greece.

 

Interview:

[26:40] Why did Yasmine become an entrepreneur?

[28:15] How does Tibba help people?

[30:05] Where is Yasmine from?

[32:50] How does Yasmine deal with ups and downs?

[34:45] Which is more productive — working in a new and different space or settling down in one place to work?

[38:55] Since Yasmine is so remote, how does she setup her companies?

[40:25] What kind of challenges has Yasmine faced?

 

The Lightning Round:

[43:05] One business – Taiwanese dessert.

[44:20] One country – New York.

[44:50] One book – Never Eat Alone by Keith Ferrazzi.

[46:00] One tool – Calendly.

 

Listener Question:

[48:20] What type of business does Andrew miss while traveling?

[51:55] You do want to have a home base with all your comforts as you travel the world.

[53:05] Andrew personally likes smaller houses. 

 

Mentioned in This Episode:

Nomadcapitalist.com

Email: Andrew@NomadCapitalist.com

Gotibba.com

Never Eat Alone by Keith Ferrazzi

Calendly.com

Sep 15, 2016

Andrew discusses why holding a mediocre passport may not be as bad as you might think. It is no secret that tax laws are only going to get stricter, so perhaps it's time to have other options where you're not forced to stay in one area for the rest of your life. By holding another passport, you may have more flexible visa options and won't have to jump through as many hoops to travel and explore new countries. Tune in to hear Andrew's full commentary.

 

Key Takeaways:

Andrew's Editorial:

[1:25] Let's talk about bad passports.

[2:20] US passports rank between 13-14th.

[3:40] What's considered a bad passport?

[6:20] Andrew discusses some of Australia's tax rules.

[9:40] It may be worth it to have a passport from a country with less influence.

[9:55] FACTA for the world will start next year.

[11:15] Having a 'bad' passport may actually get you better visa-free travel.

[11:45] Maybe it's time to get an African passport.

[15:35] There are benefits to having mediocre passports!

[20:10] Always follow the law!!

 

Interview:

[22:35] How did Simone get started?

[26:30] Simone wasn't happy with where she was.

[29:50] You have to be happy first.

[30:50] Why did Simone travel to Bali?

[31:50] Simone loves attending workshops and other activities where there are other nomads present.

[36:25] What kind of challenges has Simone faced?

[37:45] Simone discusses the important relationships she has developed through her travels.

 

The Lightning Round:

[40:15] One business – Dating business.

[41:30] One country – Europe.

[42:00] One book – Busting Loose From the Money Game by Robert Scheinfeld.

[42:35] One tool – ScribbleLive.

 

Listener Question:

[44:40] What kind of side hustles should an aspiring nomad pursue?

[45:55] Make it a full-time hustle!

[47:15] You have to make a full commitment to yourself.

[49:15] Get an emergency fund together.

[52:05] Become a nomad full-time, not part-time.

 

Mentioned in This Episode:

www.nomadcapitalist.com

Email: Andrew@NomadCapitalist.com

www.frompaintopower.de

Busting Loose From the Money Game by Robert Scheinfeld

www.scribblelive.com

www.rescuetime.com

Sep 8, 2016

Mashable recently came out with an article titled, 11 ways Millennials can save money. In it, the author recommends Millennials wash their hair less frequently in order to save on shampoo costs. Andrew comments that the Millennial culture is a painful one, but that pain is being buried and it's only going to get worse. As an outsider peeking in, Andrew sees a culture were depriving yourself is cool and wants to warn others that it really, really isn't.

 

Key Takeaways:

Andrew's Editorial:

[3:30] Andrew reads off a Mashable article on 11 ways Millennials can save money.

[4:15] Half of kids in Spain don't have a job.

[7:30] Couple plans on moving from Michigan to South Africa in order to cut their cost of living and pay off their student loans.

[9:10] Nomad Capitalist helps lessen the perceived pain of moving to a foreign country.

[9:35] You need to have a little bit of pain in order to make a positive change.

[12:20] In the Western world, there is so much pain under the surface. So much buried pain.

[12:45] There's a culture starting to develop where depriving yourself is cool.

[15:25] Don't let the culture drag you down and convince you that deprivation and high taxation is cool.

[18:55] Looking to change your lifestyle? Visit www.nomadcapitalist.com.

 

Interview:

[21:20] Why did Anastasiya become an entrepreneur?

[25:05] What was Anastasiya's aha moment?

[28:20] Why do people seem to dislike the corporate culture so much?

[33:45] Women in Europe don't like going to the gym as much as men do. It's a very male-dominated environment.

[35:50] What kind of flags is Anastasiya planting in Italy?

[39:00] Building good rapport with others in Italy is everything.

[39:55] How does Anastasiya manage her long distance relationship with her husband?

 

The Lightning Round:

[41:30] One business – Cooking tours.

[42:05] One country – Italy

[43:05] One book – How to Win Friends and Influence People by Dale Carnegie.

[43:40] One tool – Some kind of translator app.

 

Listener Question:

[46:00] What should someone's net worth be when looking into trusts?

[46:55] There just doesn't seem to be a real need for a trust.

[48:30] Around $500,000 is when you should start thinking about it.

[49:45] Look at alternative ways before you go jumping to get a trust.

[50:00] Remember, Andrew's advice is just an overview. With something like this, you do need situation-based advice from an expert.

 

Mentioned in This Episode:

www.nomadcapitalist.com

Email Andrew: Andrew@NomadCapitalist.com

11 Ways to Save Money as a Millennial

To cut their cost of living and pay their student loans, this couple is moving from Michigan to South Africa

www.anastasiyacraze.com

Anastasiya on Instagram

How to Win Friends and Influence People by Dale Carnegie

Sep 1, 2016

When people talk about asset protection, very rarely does a conversation come up on how a young person with not much wealth can protect their assets. Truth be told, asset protection is important to everyone, no matter how little you have. Andrew discusses what threats should a young person be aware of, and how to properly prepare based on those threats. The threat of government taking your money away is always a possibility, but how real is that to you? How real is it that you'd get sued? These are just some of the things you have to take into consideration.

 

Key Takeaways:

Andrew's Editorial:

[1:25] Let's talk about asset protection.

[2:20] How can the younger generation protect their assets?

[2:50] Andrew lists reasons why you'd want to protect your assets in the first place.

[4:40] There are ways the government can take your money, but you need to figure out what those real threats are.

[5:45] What are the issues you're currently facing? Write them down.

[7:40] Keep in mind, the more difficult you make things, the more difficult it'll be to access your money in the future.

[7:50] Some Bitcoin exchanges are being run like banks.

[8:20] You want to put together a plan that will not complicate things for you later down the line.

[13:30] Anyone can sue anyone in the U.S.

[14:25] You can still use an offshore company to protect yourself.

[17:35] Asset protection is important for everyone, but there are a lot of scammers out there.

[18:05] It boils down to: How are you able to access your money in a way where everyone else can't?

[18:40] Don't cut corners. Follow the law!

[20:35] Things are changing every single day. Strategies that worked a couple of years ago, might not work today.

[23:25] Also, figure out if you need all the stuff the lawyers are trying to push on you.

 

Interview:

[24:40] How did Travis get started?

[25:55] Why did Travis want to quit his job in Thailand?

[27:40] Would Travis have started a business if he was back home in Australia?

[30:35] Around 60% of Travis's customers are based in Bangkok.

[32:10] Travis plans to stay in Thailand for the next 2-3 years.

[35:40] Travis has also found the Thai government to be quite helpful.

[38:10] Travis is able to pay himself a lower salary, but still live quite nicely in Thailand.

[41:15] How did Travis meet his wife?

[43:40] Are there more nomads visiting/working in Thailand?

 

The Lightning Round:

[45:50] One business – An app to crowd source law students.

[46:50] One country – Thailand.

[47:10] One book – Suitcase Entrepreneur by Natalie Sisson.

[48:05] One tool – Private Internet Access.

 

Listener Question:

[50:50] Many Chinese people are looking to move to the U.S.―why is that?

[53:10] If you don't know why you need a second passport, maybe you don't need one.

[53:15] The Chinese are looking for different things than what you or Andrew are looking for.

[55:40] Some people who move to the U.S. are in for a rude awakening.

[58:10] Andrew's listeners are looking to lower their tax bill. The Chinese? They're looking for something else.

[1:00:15] Andrew wants his children to learn more about the world and the differences across cultures.

[1:00:40] People who want to move to the U.S. are trying to get their children out of poverty or, at least, away from it.

[1:02:30] If you don't know why the Chinese are moving to the U.S., then copying them isn't going to help you.

 

Mentioned in This Episode:

www.nomadcapitalist.com

Email: Andrew@NomadCapitalist.com

www.studiodigita.com

Suitcase Entrepreneur by Natalie Sisson

www.privateinternetaccess.com

Aug 25, 2016

In today's introduction, Andrew shares a prime example of why investing in quality services and people will always be worth your time. Good services do not come cheap, but there are a ton of benefits in the long run when you pay a pretty premium on trustworthy and honest people. At the end of the day, your time is valuable, so find people who are able to make the most out of your time.

 

Key Takeaways:

Andrew's Editorial:

[1:30] How has Andrew saved a lot of money by paying more to begin with?

[2:50] Andrew thinks Malaysian real estate is a bit too expensive right now.

[5:15] Once you pay someone a couple of thousand dollars, you've committed yourself.

[8:00] Andrew doesn't recommend his clients invest in Thailand. For himself? He'll take the gamble and see where it goes.

[10:10] Andrew shares a story on why paying more goes a long way for your money and for your sanity.

[18:05] What should you do when you're going overseas and things are a mystery? Andrew has a two-part philosophy.

[21:05] Your time is valuable, so you have to find people who can make the most of your time.

 

Interview:

[24:30] How did Vyacheslav get started as an entrepreneur?

[26:40] Why did Vyacheslav pick Canada to set up shop?

[27:50] It's very challenging to be an entrepreneur in the Ukraine.

[32:50] Is Canada a better option for people in the U.S. who are upset with the way things are being run?

[37:35] Is Canada a good place to go to if you're looking for funding?

[39:35] How has having two passports helped Vyacheslav?

 

The Lightning Round:

[40:50] One business – A marketing company that caters to startups.

[41:35] One country – Canada.

[42:00] One book – Traction by Gabriel Weinberg.

[42:50] One tool – Todo List.

 

Listener Question:

[45:30] Getting a Greek passport in 3 months, is this possible?

[48:40] The Greek government is broke.

[51:20] Greek passport in 3 months? It's probably a scam.

[52:40] Cheapest and fastest isn't always the best.

 

Mentioned in This Episode:

www.nomadcapitalist.com/

Andrew@NomadCapitalist.com

www.skysnap.ca

Traction by Gabriel Weinberg

www.en.todoist.com/

Aug 18, 2016

If you're looking for great overseas real estate investments that are the equivalent to what you'd get in the United States, then turn back now, it just doesn't exist. You're not going to get great financing deals in a foreign country. People in the United States often scoff at the idea of paying for big ticket items, like a car, in cash, much less a house! However, paying for a home upfront and in cash is a widely accepted way of doing things when purchasing property overseas and this is one of the reasons why you will get horrible finance rates in these countries.

 

Key Takeaways:

Andrew's Editorial:

[1:40] How do you know when to invest vs. when to stay put?

[3:20] You have to be realistic with your investments.

[5:25] 90% financing just doesn't exist.

[8:20] Why do you want a first world investment if you're leaving the first world in the first place?

[12:20] Andrew knows someone who sold a car for $20,000 in the US and the bank looked at him as if he was a terrorist.

[13:40] The US has the most advance markets for Airbnb.

[14:30] Andrew would rather take a cash yield than have to finance a property.

[16:55] Remember, you could potentially be investing in a bubble market if you invest in US property.

[17:15] Andrew doesn't believe real estate always goes up in value and doesn't trust people who believe this.

[18:45] If you're looking for safety then being overseas is more important.

[19:35] You're not going to go overseas and get financing. It just doesn't work that way.

 

Interview:

[23:15] Why did Kevin become an entrepreneur?

[26:35] Why did Kevin start his business overseas?

[32:55] If you go anywhere else in the world and own a car, you're considered rich. Often times, you don't even need a car because everything is within walking distance or the public transport is fantastic.

[36:15] What kind of flags has Kevin planted around the world?

[37:15] Kevin talks about outsourcing some of his work to places like the Philippines.

[38:35] What has Kevin's experience been like in Singapore?

[40:30] Kevin doesn't believe he could achieve this level of success back in his home country.

[42:15] What kind of problems has Kevin faced while being overseas? The number one problem comes down to banking.

 

The Lightning Round:

[43:55] One business - a monthly subscription service for translations.

[44:45] One country - Berlin, Germany.

[45:20] One book – The One Thing by Gary Keller

[45:55] One tool – DIDlogic.

 

Listener Question:

[48:15] Andrew, what is the biggest thing you miss from leaving the United States?

[49:50] Free refills and tap water.

[52:10] Andrew also misses the level of great customer service.

[56:25] Even if cultures are different, people still want better service.

[58:25] Why would Andrew ever move back to the US?

 

Mentioned in This Episode:

www.nomadcapitalist.com/

Andrew@NomadCapitalist.com

www.bulkbuyhosting.com

www.empireflippers.com

www.didlogic.com

The One Thing by Greg Keller

Aug 11, 2016

Andrew drives the point home on why you really, really have to put a price on what your second passport is worth to you. What is your return on investment if you were to get a second passport? What are some of the pitfalls of getting a second passport? You wouldn't walk into a dealership or a brand new home and not know how much you're willing to spend, would you? The same principle applies to your passport. Know your numbers!

 

Key Takeaways:

Andrew's Editorial:

[1:40] What's the 'real' return on investment on a second passport? .

[4:35] Do you want a second passport? What are you trying to protect?

[5:45] Do you know what the real costs, or perils, are to having a second passport?

[6:05] On a positive note, what are some of the upsides to having a second passport?

[6:55] You don't buy a house without knowing how much you're willing to spend. The same is true for your passport. Know your numbers.

[10:20] What would be the negative cost if you were to renounce your current citizenship?

[10:25] US citizens are tired of being taxed when they don't even live in the US.

[13:50] You have to know the pros and cons as to why you should/shouldn't have a second passport.

[18:00] If there is no ROI involved, then ask yourself why you're doing it.

[18:35] It's #NomadWeek at The Nomad Capitalist. Check out the website for more info.

 

Interview:

[20:15] How did Mark become an entrepreneur?

[22:25] Learn from the mistakes of others.

[23:15] What makes a good entrepreneur?

[24:10] Did Mark ever have a big 'ah-ha' moment? Why did he move overseas to start his business?

[27:35] Andrew feels a bit sad when he visits Japan.

[32:25] What kind of flags has Mark planted in Japan?

[34:25] Mark talks about the process of living in Japan and things to look out for.

[37:00] Surprisingly, Japanese women and men over 50 are willing to take risks and change the status quo.

 

The Lightning Round:

[38:50] One business - exportation of Japanese technology to China and Hong Kong.

[39:20] One country - Canada.

[39:55] One book - A Treatise on Leaders by Mark Lee Ford

[40:15] One tool - Philosophy.

 

Listener Question:

[42:35] Does Andrew have any advice on cat rescue? Listener wants to transport a cat from South East Asia back to Europe.

[43:20] Get your cat a pet passport.

[44:15] Your pet will have to be quarantined.

[44:25] Unfortunately, you're better off trying to find a good home for your cat.

 

Mentioned in This Episode:

www.nomadcapitalist.com/

Andrew@NomadCapitalist.com

www.moneo.jp/

A Treatise on Leaders by Mark Lee Ford

Jul 28, 2016

In this introduction, Andrew dives deep into the trouble with banking in the world today. Things are becoming harder. Much, much harder. You need to be prepared to get asked questions for doing trivial things. You need to be prepared that your bank will contact you and you need to be prepared to have the right documents proving your funds. Andrew focuses on the huge issues his clients are facing with Hong Kong banks, more specifically HSBC, but banking is going to become more difficult all over the world; not just in specific parts of Asia. Andrew emphasizes the importance of choosing your banks wisely, as it can really bite you in the future if you go for a bank in a questionable jurisdiction.

 

Key Takeaways:

Andrew's Editorial:

[1:00] Banks! It's getting so much harder to bank.

[2:05] Before there was FACTA, now there's global information sharing on its way.

[3:00] People who live in Hong Kong can't get bank accounts, even if they know the Vice President of the bank branch!

[3:40] Andrew was waiting at an HSBC bank on a Wednesday, for six hour, in Hong Kong.

[4:45] Nobody knows why their accounts are being blocked or rejected.

[6:00] Keep your profits in the company, reinvest it in the company, and buy assets through the company.

[8:35] You're not a big fish. Unless you're running a business that's turning over $3-5 million dollars or more, banks don't want to deal with you.

[10:25] If you're small, you're going to need more help.

[13:00] The customers are no longer the prize, the bank is the prize. You're lucky to get a bank account with them.

[15:35] Don't hide your money. Follow the law and do the right thing.

[19:55] Andrew tried to open a U.S. account and it was tough.

[24:00] Are you banking at HSBC? Stop what you're doing. Just stop.

[24:05] Are you banking in questionable jurisdictions? Stop.

[24:10] Are you banking in a tiny Caribbean country? Stop.

[24:15] Are you banking in a country with a bad reputation? Stop.

[24:35] Be prepared to get an email or a phone call from your bank.

 

Interview:

[26:55] Why did Kay become an entrepreneur?

[27:40] Kay is passionate about cave diving and wanted to explore.

[29:35] Kay loves to discover. She is curious, so transitioning from a 'real job' to entrepreneurship wasn't a problem for her.

[31:35] Kay's first job in Mexico paid $400 a month.

[32:00] What made Kay stay in Mexico?

[35:40] Key recommends living in Mexico for a year and see if the lifestyle is right for you.

[36:35] Is it too late to live in the Riviera Maya?

[39:30] Kay first went to Mexico thinking she'd stay for only 6 months. It's been 20 years now.

[41:00] Why did Kay choose Mexico?

[46:55] Getting office space in Mexico is not cheap.

[47:50] You can't assume that you'll always have electricity or water.

[48:10] Kay talks about her family.

[49:30] Despite loving Mexico, Kay does not want to be a Mexican citizen.

 

The Lightning Round:

[50:25] One business - A website, listing local services.

[51:05] One country - Panama.

[51:25] One book - Simple Numbers, Straight Talk, Big Profits by Gregory Crabtree

[52:10] One tool - Canva.

 

Listener Question:

[55:25] How easy is it to get Paraguay citizenship?

[1:00:15] Stop focusing on what's so easy and what's so cheap.

[1:01:25] Bureaucrats are afraid of letting people from anything other than western countries into their country.

[1:07:55] If your offshore strategy isn't perfected, then don't do things that can hurt your asset protection strategy. Do what needs to be done to protect yourself first.

[1:09:25] Nothing is a guarantee.

 

Mentioned in This Episode:

www.nomadcapitalist.com/

Andrew@NomadCapitalist.com

www.locogringo.com/

by Gregory Burges Crabtree

www.canva.com

Jul 21, 2016

Andrew discusses the risks and various factors you need to take into consideration when it comes to investing in unstable markets. There is nothing wrong with making a crisis investment as it can lead to huge gains. With that being side, you want to know the market, the environment, economy, and culture inside and out before you do. As Andrew's father often told him, “Be aware of falling knives.”

 

Key Takeaways:

Andrew's Editorial:

[2:10] How do you find your safe havens?

[2:40] We'll be covering how you know you're getting into a good market vs. what to steer clear of.

[3:10] Andrew's father is the most honest guy he knows. Andrew shares some advice his father once gave him.

[4:55] What is Turkey's environment like? Is it a good place to live/invest despite the attempted coup?

[5:45] Property in Istanbul has been on the rise for the last two decades, but will it soon come to an end?

[6:10] Whether a place is safe or not, it all comes down to fundamentals. Andrew explains further.

[10:40] When is the time to go in and buy?

[13:10] Find a region you like and focus on what's going on there.

[16:10] You need to understand all the factors at play before you make a crisis investment.

 

Interview:

[20:55] How did Grant get started?

[23:15] Grant wanted to give people access to extremely smart people all around the world.

[26:35] Banking tends to be the biggest problem when living in different countries.

[28:15] Why did Grant choose Singapore?

[31:45] It was easier to plant your flags in Singapore five years ago.

[32:55] Wherever you are in the world, you can be home in 24 hours if you don't like where you currently are.

[33:50] FATCA has changed the entire world.

[34:40] You should have bank accounts all over the world, but governments find this behavior extremely suspicious.

[37:25] What does Grant think about Ireland's economy?

[38:05] Would Grant like to go back to the UK?

[40:25] Grant believes if he hadn't traveled, he wouldn't have started either of his businesses today.

 

The Lightning Round:

[41:50] One business - Concierge service.

[42:05] One country - U.S.

[42:35] One book - The Checklist Manifesto and Blink.

[42:55] One tool - Trello, Slack, TripIt.

 

Listener Question:

[45:00] What are Andrew's favorite cities for Airbnb rentals?

[47:15] Andrew knows one guy who was able to get his Airbnb rentals yield up to 31%.

[47:25] However that is extremely rare.

[51:15] Andrew recommends looking into markets where there isn't enough '5 star quality stuff'.

[51:25] You'd be able to get in at a lower entry point.

[52:25] Andrew lists some countries he's familiar with and would be good for Airbnb rentals.

[58:30] Airbnb can become your business if you know what you're doing.

 

Mentioned in This Episode:

www.nomadcapitalist.com/

Andrew@NomadCapitalist.com

www.realvisiontv.com/

The Checklist Manifesto by Atul Gawande

Blink by Malcolm Gladwell

www.trello.com/

www.slack.com/

www.tripit.com/

www.airbnb.com/

Jul 14, 2016

Andrew talks about the interesting times we live in right now. Attacks are happening all over the world, which is deeply unfortunate. Andrew believes we're living in an age of extremes, governments are running out of money and people are both angry and frustrated about the changing times. The real point people have to see is that one person or particular government isn't the problem, Trump is not the real underlying problem because if it isn't him, it'll be someone else. In order to navigate safely through these uncertain times, you have to diversify your assets and plant flags all around the world.

 

Key Takeaways:

Andrew's Editorial:

[1:30] We're really living in interesting times right now.

[2:25] Attacks are happening all over the world.

[3:50] Nobody knew Brexit would actually happen, but you should still know that diversifying is always a smart move.

[5:00] Trump is not the issue.

[6:45] We're living in an age of extremes. Governments are broke more than ever.

[7:15] People are angry and frustrated. They don't want to accept change.

[8:00] Sure, Andrew was caught off guard by the Brexit decision, but he was already prepared beforehand.

[8:15] How do you deal with all of this madness?

[9:25] Andrew likes Malta because no one really understands what's going on there.

[10:15] How many violent attacks happen in Georgia?

[12:55] Whatever you're hearing from the media, from your block, is probably 180 degrees from the reality.

[13:05] The United States is an extremely corrupt country.

[15:15] Diversify your portfolio.

[18:55] Andrew wishes we didn't live in such a violent world.

 

Interview:

[22:20] Andrew welcomes Dietrich.

[22:45] Why did Dietrich become an entrepreneur?

[26:05] What was Dietrich's big aha moment?

[30:15] You don't have to go to a big city in a foreign country to run your business. You can live in a rural town and manage a virtual team.

[34:15] There's about 90 million people in Vietnam.

[39:25] Why does Dietrich love Vietnam?

[42:25] You do need a certain amount of backup money for Vietnam. Plan for three years’ worth of income.

[45:45] Use your common sense when in Vietnam. If something looks too good to be true, stay away from it.

 

The Lighting Round:

[46:35] One business - Food exports.

[47:05] One country - NA.

[47:35] One book - German motivational book.

[48:10] One tool - Fiverr.

 

Listener Question:

[50:15] What are Andrew's thoughts on Cyprus?

[54:00] Why do you want an offshore company?

[55:15] Cyprus banks will be skeptical of your business.

[55:30] Hong Kong is even kicking people out.

[58:15] Andrew does not recommend Cyprus.

 

Mentioned in This Episode:

www.nomadcapitalist.com/

Andrew@NomadCapitalist.com

www.farmers-coffee.com/

www.fiverr.com/

Jul 7, 2016

For Andrew's intro, he discusses the path less traveled and developing strong bases throughout the world, which Nomads can always come to. He dislikes Spain because there's nothing that really keeps people from staying there. It's a cheap thrill that quickly loses its allure because the vast majority of things do not work correctly over there. He firmly believes that the path less traveled is often the best way to go for planting your flags as your money is able to go further with you.

 

Key Takeaways:

Andrew's Editorial:

[2:40] Andrew sees a lot of followers in this digital nomad movement.

[5:45] Barcelona gets old pretty quickly. People come and go, no one really stays there for an extended period of time.

[9:35] Andrew loves Serbia because things work!

[11:40] The moral of the story here is that the path less traveled is often the best one.

[12:00] The path less traveled is the key to planting your flags. You get more bang for your bucks.

[12:15] Andrew personally can't see himself living in Spain.

[15:25] What cities should you look for as a base? Andrew explains further.

 

Interview:

[18:55] Why did Tamara become an entrepreneur?

[22:30] Tamara teaches classes in entrepreneurship.

[25:25] Tamara is a real hustler! She's all in.

[27:15] People think you're crazy for leaving the country. You need like-minded people in your network.

[31:00] When Tamara was starting her sweater business, a lot of her workers were illiterate.

[31:15] Challenges become opportunities.

[31:40] Bolivia has never really had a pro-business mentality or reputation.

[35:05] Tamara talks about some of the challenges she has faced in Bolivia.

[37:45] What should people know about Bolivia?

[40:20] What are some of the key cultural differences between Bolivia and the U.S.?

[41:35] Tamara talks about expanding her business outside of Bolivia.

 

The Lighting Round:

[42:30] One business – Electronics.

[43:15] One country – Bolivia.

[44:00] One book – Blue Ocean Strategy.

[44:35] One tool – Microsoft Office and the Cloud.

 

Listener Question:

[46:45] Andrew! Are you hiring?

[47:15] If you're trying to figure out things in life, 19 is a great age to do it.

[48:25] What's Andrew's personal avatar for hiring?

[50:35] Having an employee avatar is just as important as having a customer avatar.

 

Mentioned in This Episode:

www.nomadcapitalist.com/

Andrew@NomadCapitalist.com

www.tamarastenn.com/

Web site:  http://www.kusikuy.com/

Kickstarter campaign

Blue Ocean Strategy by W. Chan Kim and Renée Mauborgne

Jun 30, 2016

Should you worry if the EU were to split apart? What would that mean to the value of your EU passport? Andrew believes that if the EU were to break away completely, the good passports that are already good will still remain so. The British passport isn't going to become dirt just because they're no longer attached to the EU and the same applies to France, The Netherlands, etc. Andrew believes that you should continue to strive for a good EU passport and to keep doing things the right way.

 

Key Takeaways:

Andrew's Editorial:

[1:15] Andrew has set a personal goal to read 100 books in the 2nd half of 2016.

[3:40] Andrew writes in a gratitude journal every morning and night.

[4:15] One of Andrew's clients recently saved about $400,000 in taxes.

[6:40] What's going to be left of Europe in 5-10 years?

[9:45] Things are getting harder and harder.

[11:25] Remember, imperfect action is better than perfect inaction.

[13:15] Don't read the tea leaves. A lot of news articles aren't that relevant to you.

[13:45] Are you diversified? Yes? Then you don't need to worry.

[14:45] Make sure you're setup right to begin with.

[15:25] Focus on the end result that you want. Don't make things more complicated for you.

[17:15] Once you have a full strategy in place, you are going to feel a lot better.

 

Interview:

[21:05] Why did Yuri want to become an entrepreneur?

[24:35] You have more options when you learn a different language.

[30:15] Why did Yuri decide to go to China?

[32:10] How has Yuri planted flags in China?

[33:15] Accepting a foreign payment can take time in China.

[34:40] Is now a good time to find a job in China?

[36:00] Since China works on a global scale, they need skilled foreigners.

[36:25] What kind of benefits does China offer?

[37:15] It's quicker to climb the ladder than it is in Yuri's home country.

[37:40] Native English speakers have an advantage.

[39:10] No matter what you do, you can find your place in China.

[42:45] How easy is it to make friends in China?

 

The Lighting Round:

[44:20] One business – employment or social network.

[44:50] One country – China.

[45:40] One book – Think Like Chinese by Geoffrey Baker.

[46:00] One tool – Asana.

 

Listener Question:

[48:50] What's going to happen post-Brexit?

[49:50] If you have a good passport, it's probably going to remain a good passport.

[50:50] The British passport will not turn into a rag.

[52:00] Andrew still recommends working towards an EU passport. It's still worth it if you can afford it. 

[52:25] Even in the event of the EU falling apart, your post-EU passport will still have value.

 

Mentioned in This Episode:

www.nomadcapitalist.com/

Email Andrew: Andrew@NomadCapitalist.com

https://www.laowaicareer.com

Email Yuri: Yuri.Khlystov@laowaicareer.com

Blog: https://blog.laowaicareer.com

Call Yuri: +86 150 1053 2542

Jun 23, 2016

Why would a digital nomad want to open a business in Spain? It would be a disaster based on how things are going with the economy currently. Over half of Spain’s youth is unemployed and restaurants are closed down hours at a time. The Spanish people are not optimistic about their economy and there’s no outside forces that want to come in and fix it due to Spain’s horrible visa programs. Most of the talent has left Spain and the world is slowly discovering that Spain is creating a vicious cycle for itself.

 

Key Takeaways:

Andrew’s Editorial:

[2:15] Things you should be aware of in Spain.

[3:50] Nomad Capitalists may not like the direction in which Spain is going.

[5:00] Andrew is currently in Spain, just hanging out.

[5:25] Andrew believes the best hope for Spain is tourism and digital nomads.

[6:00] What’s the problem with Spain exactly? Andrew explains.

[9:05] Why would you come to Spain to run a company? It’s a disaster.

[12:45] Andrew loves Georgia, but he recognizes it’s a bit frontier. There’s no Starbucks, for example.

[13:55] When a country is going in the right direction, try finding an empty restaurant.

[14:15] Andrew believes Spain can turn around, if the government wanted to.

 

Interview:

[16:15] Let’s shake things up.

[16:50] Stephen flipped the script and gave up traveling to settle back in the U.S.

[17:30] Why did Stephen become an entrepreneur?

[19:05] Why did Stephen want to move overseas?
[22:35] Stephen grew up poor and one of his goals was financial freedom.

[24:30] What did Stephen learn in China?

[28:25] Did Stephen ever think that China would get ‘old’ for him?

[29:35] Why did Stephen go back to the U.S.?

[32:25] Stephen doesn’t feel like an American anymore.

[35:00] Most countries don’t want to do business with American citizens.

[36:15] Banking in the U.S. has been difficult for Stephen.

[38:35] If you’re going to leave the U.S., get an international friendly bank.

[39:30] The three things Americans obsess about is the weather, the traffic, and McDonalds.

[40:55] Why do you need an update on traffic?

[41:20] Does Stephen have problems dating someone from the same country now that he has traveled?

[44:00] It seems people outside of the U.S. are more fulfilling.

[47:25] What would you do if you knew you couldn’t fail and what would you do with the rest of your life?

[48:10] Invest in getting your mind and body right first.

 

The Lighting Round:

[48:35] One business - Marketing consulting.

[49:35] One country - Latvia. 

[50:15] One book - Awaken The Giant Within by Tony Robbins.

[51:45] One tool - Skype.

 

Listener Question:

[54:10] Sign up to the Nomad Capitalist email list to get all the latest updates.

[54:50] Why does Andrew not offer refunds on Nomad Capitalist products? 

[57:00] It’s not about selling more products.

[1:01:20] Thinking you can return the product makes you not want to use the product fully.

[1:02:05] Andrew has cut back on those books and products.

[1:03:10] People get the right results because it’s tailored to them and refunding products will just divert focus for the team.

[1:04:05] Quality over quantity is much more important for Andrew.

 

Mentioned in This Episode:

www.nomadcapitalist.com/

Andrew@NomadCapitalist.com

www.stephenhilgart.com/

Awaken The Giant Within by Tony Robbins

Jun 16, 2016

Andrew discusses the possibility of the government taking away your passport through some back door method that does not violate UN laws; Australia, Malaysia, and Turkey having the ability to suspend your passport for a number of years and the United States passing a law in 2015, giving them the same power. What happens when you're no longer able to leave your own country? When your passport is no longer valid? Andrew says that working on acquiring residency in a different country and/or a second passport should be done sooner rather than later.

 

Key Takeaways:

Andrew's Editorial:

[2:45] What happens when you can't leave the country?

[4:40] Andrew talks about a US law that was passed in 2015, which could potentially take US passports away.

[9:15] Andrew talks about Spain's unemployment problem.

[10:35] Even honest business men are having IRS problems.

[11:40] Malaysian citizens can have their passports taken by the government. Same with Turkey.

[12:35] Andrew does not recommend you get a Malaysian citizenship.

[15:45] It's always best to start the citizenship/residency clock sooner rather than later.

[17:55] Why are you getting a second passport? Ask yourself that question. Get clear on your ‘why’.

 

Interview:

[21:15] X is currently building a business in the Ukraine.

[21:30] Where is X from?

[23:15] Don't look back. Take advantage of the opportunities that are in front of you today.

[25:20] Why did X leave the US?

[27:15] Why did X pick the Ukraine as his home base?

[28:50] X wanted to go towards something he was not familiar with.

[31:30] X believes if you move around too much, it can have a negative impact on your children.

[32:55] What does X like about the Ukraine? Any surprises?

[34:50] Is it difficult to find English speakers? Yes.

[37:05] What kind of flags has X planted?

[39:00] What are Ukrainian banks like? They are currently terrible.

[42:00] X wouldn't have been able to start this type of business in the US.

[43:05] What kind of challenges has X experienced?

[44:20] X talks about the positives of being a nomad.

 

The Lighting Round:

[46:10] One business - Cosmetics.

[46:40] One country - Ukraine or Thailand.

[47:15] One book - The Go-Giver by Bob Burg and John David Mann.

[47:45] One tool - Asana.

 

Listener Question:

[49:25] Feel free to email Andrew any of your questions.

[49:45] How can you buy nutritional supplements in a frontier economy?

[51:10] There are limited options.

[53:00] It's better to send your items to a mail facility that can package them up and ship it to you.

[55:55] It's going to cost a little bit more, so is it worth your time?

[56:25] Andrew does not recommend Earth Class Mail.

 

Mentioned in This Episode:

www.nomadcapitalist.com/

Andrew@NomadCapitalist.com

www.essenceofemail.com/

www.asana.com/

The Go-Giver by Bob Burg and John David Mann

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