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.
[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.
[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.
[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.
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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.
[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.
[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.
[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.
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The Obstacle Is The Way by Ryan Holiday
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.
[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.
[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.
[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.
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