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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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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. 

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