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The Nomad Capitalist Audio Experience

Would like to become a global citizen and legally pay less in tax, build a freedom lifestyle, and create wealth faster? Here at Nomad Capitalist, we believe that you should "go where you're treated best". That means using strategies like offshore companies, offshore bank accounts, legal tax reduction, dual citizenship, high-yield international investing, cryptocurrencies, and low-tax living to keep more of your own money and design a life you love. These strategies - when used correctly - are completely legal for Americans, Australians, Brits, and Canadians. Nomad Capitalist works exclusively with six- and seven-figure entrepreneurs and investors who want to become global citizens living the good life.
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Now displaying: Page 16
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

Jun 9, 2016

In today's quick intro, Andrew emphasizes the fact that 'off-the-shell' passports are no longer the go-to choice. That is because respective governments are noticing these people are potential tax evaders and are denying access to renounced citizens. Instead of finding the quickest and cheapest method, invest the time in securing your future and find a country you would actually like to live and be a productive citizen in, then acquire the passport.

 

Key Takeaways:

Andrew's Editorial:

[1:25] Spain is falling apart.

[1:50] Some countries in Europe have between 30-40% youth unemployment.

[2:50] Why won't Andrew buy property in Spain?

[4:20] If Andrew had to compare the US to Spain, he'd be more optimistic about the US.

[4:40] Can Spain even hit rock bottom?

[7:55] Andrew explains why you have to get your passport/legal documents done correctly and legally.

[10:10] Andrew is currently in the process of getting an economic citizenship and it wasn't cheap.

[11:05] The cheapest and fastest passport isn't always the greatest and Andrew doesn't recommend it.

[15:40] Will there come a day when the US looks at all the US-born people who have gotten off-the-shell passports?

[17:40] The EU is not looking to let a lot of people in right now.

[19:00] Planning on renouncing your citizenship or getting a second passport? You need strategy.

[24:00] Do things that will solve your problem. If you want to travel the world, then having a weak passport won't get you there.

 

Interview:

[25:45] Why did Milos want to be an entrepreneur?

[29:15] Rebellion is just a symptom of the entrepreneurial spirit that you have.

[30:45] Why did Milos leave New York for an education?

[34:25] What was the first thing Milos did to start his company in Poland?

[39:40] It was a difficult job to teach Polish staff the standards of customer service.

[43:35] Could Milos’s business work in Serbia?

[45:20] What are some of the pros and cons of Poland?

 

The Lighting Round:

[50:10] One business – Grocery store.

[51:20] One country – Panama.

[52:05] One book – Nietzsche.

[53:55] One tool – Evernote.

 

Listener Question:

[56:25] Why does Andrew recommend Cambodia and not Vietnam?

[58:10] People in China and Asia love buying real estate.

[59:35] Cambodia is a great place to invest.

[1:00:50] Time is not on your side.

 

Mentioned in This Episode:

www.nomadcapitalist.com/

May 26, 2016

Andrew currently loves Eastern Europe and talks about how to safely allocate your assets so that they work for you both on a short-term and long-term basis. Andrew recommends that entrepreneurs should first focus on creating a location-independent business that will give them the financial freedom that is needed to travel. Once you've established yourself there, focus on income-generating assets, and then focus a good 10-15% of your investment portfolio on long-term value investments like property.

 

Key Takeaways:

Andrew's Editorial:

[2:40] It's easy for folks to buy property in Eastern Europe.

[5:45] When you have the resources to invest, it's important to know how you're allocating those assets.

[6:40] The best way to allocate your resources? Have a location-independent business.

[9:00] Don't be held back by doing 'just one more' local deal in your country.

[10:50] If you have a million dollars, but no plan to keep generating more money, then you have to be more cautious with your investments.

[12:30] Income-generating assets should be a good part of your portfolio.

[17:40] Andrew talks on why he likes purchasing land.

[18:55] Andrew recommends to put 10-15% of your portfolio into something that has a long-term value.

[20:30] What's going on in Africa? Listen to today's guest to find out.

[21:35] Really take a hard look at your asset allocation.

 

Interview:

[25:00] Andrew welcomes Fabian.

[25:25] Why did Fabian become an entrepreneur?

[28:45] It was Fabian's dream to travel, so his business had to be location-independent.

[32:00] What is the coolest job in the world? Google had an answer for Fabian.

[34:00] What was Fabian's 'ah-ha' moment for creating a company that matched his lifestyle?

[35:40] What kind of flags can you plant in Africa?

[36:45] How does banking work in that side of the world?

[39:25] Fabian has learned four languages, thanks to traveling.

[41:15] Africa houses some of the friendliest people around the world. Fabian highly recommends you visit and see the culture for yourself.

 

The Lighting Round:

[41:55] One business – Don't know.

[42:55] One country – Chile.

[43:25] One book – Vagabonding by Rolf Potts.

[43:45] One tool – Calendly.

 

Listener Question:

[46:00] What does Andrew think about the hotel business in an emerging market?

[46:20] First of all, what is Andrew's definition of an emerging market?

[47:45] Andrew is not a fan of the hotel business in general.

[49:25] The hotel business is too expensive and it requires a lot of knowledge to successfully pull off.

[52:00] Start small. Perhaps a bed and breakfast-esque place first?

 

Mentioned in This Episode:

www.helpando.it/

Vagabonding by Rolf Potts

May 12, 2016

Andrew is excited to bring on Vít Jedlička, the President of the self-declared libertarian country Liberland. Vít is a politician, publicist, and an activist. During Andrew's intro, he expresses concerns about becoming a citizen of a country that is not yet recognized by the world. With that being said, he is pro-Liberland and loves what Vít is doing. Vít gives an update on the current political stance Liberland has with the rest of the world and so much more on today's episode.

 

Key Takeaways:

Andrew's Editorial:

[2:55] Andrew hosted one of the first mainstream conferences in the world to talk on Bitcoin.

[3:15] The Nomad Capitalist conference was also one of the first places to talk about Liberland.

[3:40] How do you plant flags in Liberland?

[4:10] Andrew doesn't have an answer for that question.

[5:20] How will Liberland be accepted by the rest of the world?

[6:50] Are you doing what's right for you?

[7:50] Want to bank in Hong Kong? That boat has sailed.

[9:15] What kind of recognition will Liberland have? Will it be the same as the Caribbean?

[11:35] Don't get Andrew wrong, he approves of Liberland.

 

Interview:

[16:35] Andrew and his team have been following Liberland for the past year.

[17:40] Why start your own country?

[20:25] What does Vít say to those who still believe a US President can turn the US around?

[23:15] Vít is happy when other countries are talking about Liberland.

[25:40] Vít has received more than 1,000 people from the United State apply for citizenship.

[27:40] What's the citizenship process for Liberland?

[29:25] What kind of investments/investors is Vít looking for?

[31:20] What's happening with the Liberland territory?

[32:40] You can plant any flag you want in Liberland.

[35:05] Vít points out that the Simpsons predicted Donald Trump would run for President almost 11 years ago.

 

Listener Question:

[37:30] How long should you be willing to wait for a second passport?

[38:20] How good of a passport do you want?

[38:55] What's the end scenario? Do you want to renounce your current one or just a backup plan?

[40:25] Perhaps waiting a bit longer for a quality passport is worth it.

[42:00] You can work on getting two passports at the same time.

 

Mentioned in This Episode:

www.nomadcapitalist.com/

Andrew@nomadcapitalist.com/

www.liberland.org

Liberland on Facebook

May 5, 2016

Andrew discusses some of the current Presidential candidates and where they stand on their expat policies. If so-and-so were to get elected, what would it mean to US citizens living abroad? Many of these candidates want to have a residency-based tax and not a citizenship-based tax. Andrew argues that voting for someone is just a passive insurance policy. Instead, you need to have an active insurance policy that will protect you from people who don't have your best interest.

 

Key Takeaways:

Andrew's Editorial:

[2:20] How will the new president affect the expats?

[3:35] New Zealand citizens are getting letters from their bank asking whether they are US citizens.

[4:20] A number of the republicans are against FACTA. 

[6:20] We still don't know what Trump's policies are on taxing expats.

[7:10] Ted Cruz, Bernie Sanders, and others are for a residency-based tax system.

[11:00] Will citizenship-based taxation ever come to an end?

[11:45] You have to seek an active insurance policy. Voting is very passive.

[15:55] An active strategy could just be having the right attorney and accountant.

[16:10] Bad professionals can do more harm than good.

[18:55] Where are your kids going to be born? Give them a backup option.

 

Interview:

[20:25] Andrew introduces Graham.

[22:00] What's the minimum you can do with the maximum amount of returns?

[23:30] Follow your passion is horrible advice.

[25:30] It used to cost a lot of money to start your business, now it's substantially much cheaper.

[28:35] The real juicy investments are the ones people won't even look at twice.

[30:15] What makes Graham want to help entrepreneurs?

[36:00] Graham loves meeting different people every time he travels/lives in a new location.

[38:25] What kind of flags has Graham planted?

[42:35] Start with the basics and open a multi-currency account.

[44:20] Don't chase cheap property. Invest in the best.

 

The Lighting Round:

[45:25] One business AirBnB.

[46:25] One country Japan.

[47:35] One book Anything by Jim Rogers.

[48:40] One tool Dropbox, Skype, ScheduleOnce.

 

Listener Question:

[52:05] Jeff asks, What kind of cultural examples should I look for as I travel the world.

[52:55] Lack of regulation can be very shocking from someone coming from a western world.

[55:20] There are a lot of benefits to Singapore, but here's the thing, Singapore also does not have free speech.

[56:40] You want to be able to accept certain cultural differences that won't affect you overall.

[56:55] What are you looking for?

[57:15] Eastern Europe has more freedom to run the business you want.

[59:10] The rest of the world has much more acceptance than in Western societies.

 

Mentioned in This Episode:

www.nomadcapitalist.com/

Andrew@nomadcapitalist.com/

www.upventures.io/

www.barefootjournal.com/

Apr 28, 2016

If you're wondering what it takes to become a Nomad Capitalist, Andrew has a couple of answers for you. The first question you should always ask yourself is, 'why?' Why are you doing this? Why do you want to have a second passport or renounce the one you currently have? You must, must know your 'why' before you set off to acquiring new flags. Andrew says you become a Nomad Capitalist when you know what freedom looks like to you.

 

Key Takeaways:

Andrew's Editorial:

[1:10] How do you become a Nomad Capitalist?

[2:10] Your story is important. You have to put yourself first and go where you're treated best.

[2:30] When people call Andrew, they always like to ask him, 'Where are you now?'

[3:25] Traveling can be fun, but you have to know if it's right for you.

[6:25] So, what do you have to do to become a Nomad Capitalist?

[7:05] Always ask yourself 'why?'

[7:25] Don't ever lose sight of the why. If you don't have a why, you'll never get to the right place.

[9:35] Do what's comfortable for you. The answer is different for everybody.

[15:30] Get the right strategies in place and then go live the life of your dreams.

[17:45] What does freedom mean to you?

 

Interview:

[19:40] Why did Olivier want to become an entrepreneur?

[20:45] What were some of the things that pushed Olivier to entrepreneurship?

[22:05] Olivier saw firsthand how broken his employer's system was.

[23:15] When was Olivier's big aha moment on becoming a nomad?

[25:25] You sometimes have to let go of your old notions in order to find your true path.

[25:40] People stay in bad situations because they are comfortable.

[26:40] If you want comfort, this lifestyle may not be for you.

[27:40] If something is going to go wrong, there's a good chance you didn't think about it.

[27:55] Have a plan B, but don't develop anxiety over the worst case scenario.

[28:15] Why did Olivier leave France and move to the US?

[32:05] Olivier talks about some of his favorite places to plant flags.

[32:35] Let's talk banking, what has worked and what hasn't?

[34:55] Olivier sees Thailand going down the wrong path.

[37:05] What kind of problems has Olivier run into so far?

[39:35] Hong Kong is becoming a mess in terms of banking.

[41:25] The US bank told Andrew's mother to not bring debit cards to Malaysia, because it's fraud city.

 

The Lighting Round:

[44:25] One business – something immigration related and/or a co-working space.

[45:15] One country – Brazil.

[45:50] One book – Jonathan Livingston Seagull by Richard Bach.

[46:45] One tool – Google drive.

 

Listener Question:

[49:05] What would make Andrew move if he was still living in the US?

[49:30] Everyone says they're going to move to Canada if so-and-so is elected.

[50:20] If you love freedom so much, why not Mexico?

[52:25] The system is the problem, not the person being elected.

 

Mentioned in This Episode:

www.nomadcapitalist.com/

Andrew@nomadcapitalist.com

www.1040abroad.com/

Jonathan Livingston Seagull by Richard Bach

Apr 23, 2016

Andrew discusses some of the pros and cons of owning agricultural land. If you're interested in purchasing agricultural land, then you must have a trusted lawyer by your side to make sure everything is in compliance with the law and that the deal you're about to go through is 100% legitimate. Too often you hear horror stories of people getting screwed over by bad apples. Andrew also recommends to look into agricultural land throughout Eastern Europe, as it is often far cheaper than agricultural land in Latin America and many other countries. 

 

Key Takeaways:

 

Andrew's Editorial:

[2:20] Jim Rogers believes sometime in this century farmers will go back to holding all the wealth.

[3:00] Andrew talks about The $10 Trillion Prize.

[4:40] On a large scale, cows take a lot of land compared to rice fields.

[4:45] This is why people talk about agricultural land being so valuable.

[5:20] The problem with agricultural land is that it's not only a long term investment, but also an expensive one.

[6:20] There are other compelling reasons to own agricultural land. 

[7:55] Andrew wants your feedback about the investment he is making.

[9:15] Being on the ground is often better than being online.

[9:55] Most people don't have $7.2 million to put into agricultural land.

[10:05] Andrew is acquiring a small cattle ranch in Eastern Europe because it's cheaper.

[11:15] If you can't get the top lawyer in town, then get the best lawyer you can and pay them!

[13:55] There aren't a lot of good metrics on what agricultural land is worth, which is why you need to have people you trust, like lawyers, by your side.

[20:15] Have a lawyer, have a lawyer, have a lawyer.

[23:05] There are places where you can get residency if you purchase agricultural land.

 

Interview:

[23:45] Andrew introduces Daniel.

[25:10] Daniel had both Swiss and US passports at birth.

[27:00] Daniel talks on why he decided to renounce his US citizenship.

[29:40] What was Daniel's big aha moment?

[30:15] The US policy on how they handle their US citizens living overseas is disturbing.

[30:40] Why Switzerland? 

[34:10] What did Daniel do after he renounced his US citizenship?

[34:40] Switzerland has no capital gains tax.

[34:50] What other flags has Daniel planted?

[35:50] Daniel's 11-year-old daughter is a US citizen and she is also running into some problems.

[40:25] Does Daniel go back to visit the US?

[42:25] Daniel feels like it's easier to go back to the US as a non-US citizen than as a citizen.

[43:50] What kind of problems has Daniel faced since he renounced his US citizenship?

 

 

The Lighting Round:

[48:50] One business – any type of business online.

[49:25] One country – Switzerland.

[50:15] One book – books on renouncing US citizenship. 

[50:55] One tool – The American Expatriates Facebook group.

 

Listener Question:

[53:30] How do you stay healthy while traveling?

[55:15] Andrew recommends apple cider vinegar.

[57:05] If you feel bad, stay in and just knock it out.

[58:40] There's usually a pretty simple solution to most things.

 

Mentioned in This Episode:

www.nomadcapitalist.com/

Andrew@nomadcapitalist.com/

The $10 Trillion Prize by Michael J. Silverstein

https://www.facebook.com/groups/AmericanExpatriates/

Apr 14, 2016

It's that time of year again where, guess what, you're paying high amounts of taxes. If everyone around you is getting excited about their refund check and you're not, you already know you're different. This year is the best time for reflection and to find out what you truly want. Don't wait another year to achieve the financial freedom you so desire and crave.

 

Key Takeaways:

 

Andrew's Editorial:

[1:45] It's that time of year again...to pay taxes.

[2:10] Why don't you blow your refund check on some brand new patio furniture?

[3:40] If you're listening to the show you already know you're different.

[3:50] No one is ever going to commend you for getting an offshore back account.

[4:15] There is a growing feeling that the western government is there to take care of the people and if you don't feel that way, you know you're different.

[8:00] Don't save. Rely on social security, because the politician said so.

[10:30] Focusing on why a politician is bad does not help solve the problem. You have to understand how the impact of so-and-so person being elected will affect you.

[11:25] Eastern Europe has some of the lowest tax rates in the world.

[15:20] If you live in the US full time, expect to pay.

[15:25] You're looking for a new way out? A new president isn't going to fix that.

[16:35] If you're uncomfortable with writing the IRS a big check every year, then you need to make a change.

[20:15] This is a good time of the year to reflect on where you really want to be financially.

 

Interview:

[22:05] Why did Ashley want to become a freelancer?

[23:20] Teaching English overseas is not everyone's dream job.

[23:30] What was Ashley's big ‘aha’ moment?

[27:05] Why did Ashley want to live in Mexico?

[28:10] Mexico City is one of the biggest cities for museums in the world.

[29:45] The food in Mexico just seems better, even the coke tastes better.

[33:35] Biggest challenge for Ashley has been getting her residency.

[35:00] Doing it yourself sometimes is a huge headache.

[38:25] What are some of the successes Ashley has achieved that she wouldn't have been able to accomplish back home?

 

The Lighting Round:

[41:25] One business – Recycling.

[42:10] One country – Mexico.

[43:25] One book – Poor Economics by Abhijit Banerjee and Esther Duflo.

[44:20] One tool – Google hangouts.

 

Listener Question:

[50:25] How can a Canadian citizen, who owns physical property in Canada, no longer become a resident of Canada?

[52:20] You have to move or sell your stuff in Canada.

[55:10] This is a complicated case.

 

Mentioned in This Episode:

www.nomadcapitalist.com/

Andrew@nomadcapitalist.com/

Poor Economics by Abhijit Banerjee and Esther Duflo

Apr 7, 2016

Andrew discusses current trends happening in Asia and how it's slowly becoming more and more difficult to do banking there. The Nomad Capitalist slogan is, 'go where you're treated best', but Asia, Central, and South America are becoming more difficult for residency purposes and it's becoming harder to receive the treatment you want. Andrew is moving out of Asia and focusing more of his efforts in Georgia. 

 

Key Takeaways:

 

Andrew's Editorial:

[1:35] Andrew is no longer recommending South East Asia?

[2:55] Looking to diversify internationally? Focus on making your life easy.

[3:45] Banks in Hong Kong are becoming more difficult.

[4:30] If you're a nomad capitalist, Asia is becoming more difficult.

[6:45] Growth is moving back to Asia.

[7:10] If you're looking for safe havens and diversifying your life, there are easier options.

[7:50] When a Hong Kong bank is suspending your account, what do you do?

[11:00] Andrew personally loves Georgia. Banks are easy, life is easy.

[12:25] You get treated better, bank wise, in Europe.

[15:45] What's happening in Asia is also happening in Central and South America.

 

Interview:

[19:15] Why did Nathan become a nomad?

[20:55] Nathan was isolated in his home country of New Zealand and wanted to travel.

[21:45] Why did Nathan start his business overseas?

[23:15] Narrow down what your strengths are.

[23:50] You don't have to scale all that much to live the life of your dreams.

[26:00] Look at the skills you already have and see how you can use those to make money online.

[27:55] If you can't be authentic, then you're not going to be a successful talent.

[28:10] Are you doing this because you're a leader or because you're following someone else's footsteps?

[29:30] In this day and age, why not? It's possible to travel around the world and have a business.

[30:15] Andrew couldn't do and still can't do hostels.

[31:25] Andrew's financial advice is boring have an emergency fund, have six months of living expenses in the bank, etc.

[33:30] What flags does Nathan like currently?

[35:10] There are a lot of great options in Europe.

[35:15] Nathan really loves Norway banks.

[38:20] Nathan shares his experience in Thailand.

 

The Lighting Round:

[40:30] One business Electronic payment system

[41:35] One country New Zealand

[42:40] One book - Antifragile by Nassim Nicholas Taleb

[43:55] One tool - Starbucks

 

Listener Question:

[46:50] What's Andrew's opinion on buying agricultural land?

[47:40] What are your goals by trying to buy agricultural land?

[48:30] Owning agricultural land is a good thing, but there's a lot of garbage land out there.

[49:50] Really do your due diligence on the agricultural land you're planning to buy. It's often misleading.

[51:35] Know the rules and the laws to this land.

[52:30] Be aware that you might be overpaying for your property.

[53:00] Agricultural land is very good, as long as you're doing it the right way.

 

Mentioned in This Episode:

www.nomadcapitalist.com/

www.nomadcapitalist.com/2016/04/01/reasons-leaving-southeast-asia/

Andrew@nomadcapitalist.com/

www.assembleadvisory.com/

Antifragile by Nassim Nicholas Taleb

Mar 24, 2016

One of the main themes Andrew has continued to touch on throughout the year is around fear and inaction. Andrew understands what fear can do to someone and their success because fear has also, at times, taken control of Andrew. This is one of the reasons why he invited Matt Dubiel to join him on the show. Matt is still living in the US and has not made the step to move overseas and become a nomad just yet. Andrew and Matt talk on fear, what the outside world looks like to the average American, and what's holding him back from his nomad journey on today's show.

 

Key Takeaways:

Andrew's Editorial:

[3:25] Why do you feel stuck?

[3:45] The reason why you're stuck is because you have too much fear.

[5:00] One of Andrew's fears is going out and making the investment.

[5:25] Andrew would've been more successful if he didn't have fear about taking action.

[7:35] We all have fears. It's normal. However, you can still get things done.

[8:35] Your plan needs to be able to serve you now, not later.

[10:55] Today, Andrew wants you to hear some of the valid fears his guest has.

[11:10] The biggest thing that has held Andrew's guest entrepreneurs back is their fear.

[13:25] Do something old school. Write down all the pros and cons of the things you want to do.

 

Interview:

[16:55] One of the benefits of traveling abroad is that it's a very balanced world out there, especially compared to what the media thinks.

[17:45] As long as you live in the US, it's hard to see what's considered normal vs. what's not; like having to own a car, for example.

[18:40] When you step outside of the US, everyone else isn't as judgmental. There are suddenly new standards to living.

[20:55] We convince ourselves that these little things don't affect the work we do.

[21:15] Andrew believes he has gotten more things done just by being outside of the US and not being focused on keeping up with the Joneses.

[21:50] Believe it or not, material possessions do not bring you happiness.

[23:00] The things we own end up owning us.

[24:55] When did Matt realize he should be looking offshore instead of onshore?

[27:35] There has to be a better way, right? Matt explains further.

[29:50] The US is shifting significantly and Matt is beginning to see a lot more division in the classes.

[30:15] The American dream can be found elsewhere. It can be found in places like the Philippines.

[35:30] The American people want a hero, but there is no hero and a President is never going to be a hero that solves everything for everyone.

[41:15] What's holding Matt back from moving overseas?

[44:10] Lean into the fear.

[48:40] How can you be more open minded to 'the outside'? Matt says to travel and bring your family along.

[53:40] You can solve a lot of problems just by decluttering your life.

 

Listener Question:

[57:35] Is citizenship by descent worth the hassle?

[57:50] The worst second passport is the one you don't have.

[59:55] It can take up to three years to get a Polish passport by descent.

[1:00:35] Going through the descent route may not be for you.

[1:02:20] Nothing in life comes free.

[1:04:30] What are your end goals with getting this citizenship?

 

Mentioned in This Episode:

http://nomadcapitalist.com/

Andrew@nomadcapitalist.com

https://mattdubiel.com/

Mar 16, 2016

What is the definition of easy? Easy means a lot of different things to a variety of different people and that's the point Andrew would like to drive home on today's opening segment. Do not get sucked into outside messaging trying to convince you something is easy when it doesn't even fall in line with something you want. Andrew believes that you should have a clear plan and a clear definition towards why you're working for the things you're working for, that way you can define what is the best and the easiest way for you to get there.

 

Key Takeaways:

Andrew's Editorial:

[2:10] Are you planning to move overseas because the 'wrong' President will be elected?

[3:00] So many people feel crazy to leave their home town.

[4:50] 'If so and so President gets elected, I'll move to Canada.' Why Canada? Why not Mexico?

[6:55] If you renounce your US citizenship, you will need a visa to visit the US.

[7:30] It has become harder to become a citizen of Uruguay.

[10:15] What does easy really mean?

[11:05] People say Panama is easy, but it really isn't.

[14:00] Why do you really want a second passport?

[15:30] Have a plan and know the real reason why you are aiming for a new residency card.

[17:25] The reality is, you may never really need a second passport.

[18:15] The moral of the story is, what is easy and does it serve your purpose?

[21:00] Easy isn't always the best way. Good options are often not marketed as easy. 

[21:20] The easiest way to lose weight? Eat better and exercise, not that hard, you just have to do it.

[21:40] Why do you want to move to another country? If you don't have the answer, don't do it yet.

[24:35] What is easy for Andrew, might not be easy for you.

 

Interview:

[27:15] Andrew introduces Sarah.

[27:50] Why did Sarah want to be a nomad/traveler?

[29:30] People don't travel because they don't know where to get started.

[30:35] When you travel, you can make friends wherever you are.

[31:30] What kind of fears did Sarah have when she started traveling?

[35:00] For tax purposes, it's good to know how many days you've been in each country.

[36:40] Spain is a place you want to live in, but not a place to do business in.

[37:50] How is Sarah planting her flags?

[41:35] South East Asia is fun, but it's not a place to live in for a long time.

[44:10] Men vs women traveling to South East Asia? Is it less fun for women to go there?

[45:15] There are differences in dating.

 

The Lighting Round:

[47:00] One business – No answer.

[47:25] One country – A warm country like Spain or Australia.

[48:15] One book - Invisible Selling Machine by Ryan Deiss

[49:15] One tool – Basecamp.

 

Listener Question:

[51:55] What kind of creature comforts has Andrew added into his travels?

[54:15] Andrew will be taking a duffel bag full of teas.

[56:45] A country like Georgia doesn't have a lot of creature comforts.

[57:05] There's an opportunity to provide creature comforts in countries where they don't have them.

 

Mentioned in This Episode:

http://nomadcapitalist.com/

http://nomadcapitalist.com/author/sarah-schaetti/

Invisible Selling Machine by Ryan Deiss

Andrew@nomadcapitalist.com

Mar 2, 2016

Be very wary of the word 'free'. Free often means it lacks value and gives you a bad opinion over things with value that are worth the high-price tag. Andrew talks about how the island of Pitcairn is offering free land to those who want it, as long as they're willing to live there. Today's guest is Jiah Kim, an entrepreneur who went back to school to become a lawyer. She now uses her expertise to help serve others on an international basis. Listen in to find out more about her story.

 

Key Takeaways:

Andrew's Editorial:                              

[2:00] How is the world changing and how will you keep up with it?

[2:45] Why does nobody want 'free' land?

[7:50] If you want to move to Pitcairn, they've got some free land for you.

[11:40] Get away from 'free' things!

[12:40] Someone invited Andrew to an event and he explains why he didn't go.

[15:45] Free things reduce the true value of real, quality things.

[21:40] What's a really good investment worth? Well, it isn't free.

 

Interview:

[24:00] Why did Jiah decide to become an entrepreneur?

[25:55] Why did Jiah leave her entrepreneurship career to become a lawyer?

[28:10] Most people become a lawyer and then throw it away, but it seems Jiah did it differently. She adapted her skill sets to entrepreneurship.

[29:15] How does Jiah manage being a lawyer/entrepreneur at the same time?

[31:50] What was Jiah's 'ah-ha' moment to having an international business?

[35:45] What are Jiah's thoughts on Southeast Asia?

[38:20] In what ways has Jiah been diversifying herself?

[42:30] At what point is it considered that you've 'lived' in a country? Apartment in your name? A certain amount of friends?

[44:20] Jiah feels that when she travels often, she loses productivity.

[46:40] Jiah's biggest challenge to being a nomad is the lack of family support.

 

The Lighting Round:

[48:30] One business – Restaurant or water filters. 

[49:45] One country – China or US.

[50:20] One book – Gone with the Wind by Margaret Mitchell.

[51:10] One tool – AreoPress.

 

Listener Question:

[55:10] How do you know when you need an asset protection trust?

[56:25] $500,000 is when you have to start thinking about it.

[56:30] But the real question is, why do you need a trust in the first place?

[57:10] By having a trust, what are you trying to accomplish?

[59:45] The better question to ask is, 'what are my threats'? And then solve those problems instead.

 

Mentioned in This Episode:

http://nomadcapitalist.com/

http://www.telegraph.co.uk/news/worldnews/australiaandthepacific/pitcairnislands/11418280/Why-will-nobody-move-to-Pitcairn-the-Pacific-island-with-free-land.html

http://jiahkimlaw.com/

Gone with the Wind by Margaret Mitchell

Anything You Want by Derek Sivers

Feb 25, 2016

Andrew used to think that he knows best and shares a perfect example of how his mentality has changed over the years. Sometimes, you don't know best and you need others to take the lead so that you can get to where you want to be. This is why it's so important to surround yourself with professionals and experts you trust. However, with that being said, you also have to get off your butt and be willing to invest some of your time or resources to help others get you there.

 

Key Takeaways:

Andrew's Editorial:

[1:25] Sometimes the best thing to get done is nothing.

[2:10] Maybe some of this stuff isn't for you.

[4:30] Andrew shares a story about what happened to him in Hong Kong last week.

[10:05] Andrew doesn't want to feel good for an hour; he wants to feel good for the rest of his life!

[10:30] Andrew achieves success by trusting in the right people to get him there.

[10:50] Are you trying to be the expert when you actually aren't?

[13:55] You have to get off your butt and go take action.

[15:35] If you want to heal, you have to feel the pain.

[17:10] If you're not willing to invest your resources or time, then Andrew cannot help you.

[19:10] Why do people cheat? Andrew explains.

 

Interview:

[24:15] Why did Nick become an entrepreneur?

[26:30] What was Nick's big ‘ah-ha’ moment to start his business overseas?

[27:35] Why did Nick choose Asia?

[29:40] Nick talks about what Freedom Generation is.

[31:15] What countries have stood out to Nick for planting flags?

[32:40] What worked yesterday may not work today. Things change quickly.

[34:05] Some clients have concerns about people working overseas. They still don't understand the concept.

[35:00] How does Nick work around the time zone differences with his clients?

[36:00] Nick talks about hiring people online.

[38:25] What Nick would not be able to do if he was still in New York!

[40:50] What were some of the things Nick thought would go wrong, but didn't?

[43:10] What advice would Nick give to other New Yorkers?

 

The Lighting Round:

[44:25] One business – e-commerce or retail.

[45:15] One country – Vietnam or Cambodia.

[45:50] One book – The Personal MBA by Josh Kaufman and The 7 Day Startup by Dan Norris.

[46:40] One tool – Freedom.to

 

Listener Question:

[49:20] Where are the best countries with the highest real estate yields?

[51:15] You don't have to choose between cash flow and property. You can do both.

[55:10] Eastern Europe and West Asia offer lots of opportunity for yield if you know what you're doing.

[56:40] The best place for yield may be where you are currently.

[48:20] The real question is, where's your network?

[1:00:20] The real key to succeeding is to know what you're doing or have trusted experts to help you.

 

Mentioned in This Episode:

http://nomadcapitalist.com/

http://freedomgeneration.co./

https://freedom.to/

The Personal MBA by Josh Kaufman

The 7 Day Startup by Dan Norris

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