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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Nomad Capitalist Live



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Now displaying: October, 2016
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.



[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:


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.



[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:


Four Case Studies for Renouncing US Citizenship

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.



[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:


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!



[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:


Will it Fly? By Pat Flynn