One of the easiest ways to get second residency which can eventually lead to actual citizenship is investing in real estate.

Depending on your needs, final goals and financial situation, you can choose from a variety of different countries that have easy second residency procedures.

Some of them, like Serbia, Montenegro or Turkey, don't have special requirements regarding properties. Also, there are countries like Georgia and Thailand with pretty straightforward programs.

Finally, some of the Latin American countries, such as Nicaragua, Panama or Colombia offer excellent real estate investment programs, that can easily lead to permanent residency or even citizenship.

What is Grant Cardone's missing piece?

Andrew analyzes the video of the legendary sales trainer and his strategy for storing money. From Nomad Capitalist point of view, saving 40 percent of your income is not enough, since you are paying another 40 percent in various taxes to the US government.

The point is, if you are willing to move from California to Miami in order to save money on tax, why wouldn't you go even further and take your wealth overseas while saving up to 80 percent?

The idea of living nowhere and being a nomad may sound appealing and exotic, but it became more difficult to achieve lately, as more and more people are starting to follow this lifestyle.

Consequently, various governments started closing some exit paths in order to make you pay your taxes to them and not somewhere else.

Simply saying: "I don't live anywhere" is going to raise a lot of questions and so the good idea would be to eventually set up a place which will be your "home" and a solid plan to help you achieve what you wish for.

Some people believe that only living in a country with high taxes can make us happy, because of the feeling of responsibility and contribution to society.

But the question is: How does that make you feel? Are you comfortable with that?

At Nomad Capitalist, we believe that we should all take care of ourselves and not rely upon the government to do that. That way, we also have more freedom - to move, travel, invest...

In the end, the human factor and happiness are always the most important thing. So, you just need to define your own formula.

Citizenships by investment or the so-called "passports for sale" are the quickest way to gain second citizenship.

You may be surprised, but the cheapest options to consider this year may as well be the best ones. Both of these countries are in the Caribbean - Saint Lucia and Dominica and both of them offer citizenships by investment in the amount of $100,000.

By holding a passport of either of these countries you will have access to EU, UK, Hong Kong, Singapore, and other places, while Dominica is increasingly paving its way to Russia and China as well.

There are some common misconceptions about offshore bank accounts, based on information given by politicians and media of certain countries.

The reality is that offshore banking is not about "hide and seek", but could be a way to more stability, more wealth, higher interest rates, as well as more investment opportunities.

Simply put, it allows you to diversify your options and take control of your own money.

Should you become a dual citizen? What are the benefits?

The way we see it at Nomad Capitalist is that it could be a great backup plan, even if you are not planning on moving or working somewhere else because it's always important to have numerous options to choose from.

Having dual citizenship is a great financial strategy for tax reduction and offshore investments, as well as for taking advantage of social services in, e.g. Europe or Canada.

Also, holding a second passport may give you more freedom to travel and an opportunity to live in some other place, occasionally or full-time.

So, start building your global citizenship portfolio and enjoy all the benefits of being a dual citizen.

There are a lot of misconceptions about offshore companies and what they represent, mostly thanks to the image created by the media.

Therefore, many entrepreneurs are reluctant to open an offshore company, because they think it sounds scammy or weird.

The truth is, an offshore company is just a company based in another country and because of that it gives you more power and control over the things that are important to you: lower tax rates, more privacy, less paperwork, etc.

Like any other sandwich, even the "Global Citizen Sandwich" has three separate parts, representing three segments of this specific lifestyle.

At the top of the sandwich, there is a place where you keep your wealth - financial hubs like Singapore, Switzerland, Hong Kong, etc.

In the middle is a place where you live and where you enjoy full freedom and happiness.

Finally, there is a place at the bottom of the sandwich where you grow your money, where you invest. Those are mainly upcoming countries with underrated prices.

The most interesting part is - they are all mutually exclusive, so you can make a unique combination for your own "Global Citizen Sandwich".

Even though the idea of opening an offshore bank account from your living room may sound appealing, things are not as easy as they seem and they are becoming even harder.

Given that the bank employees don't see you in person, you will have to file a significant amount of documentation, which can take more time and effort than actually traveling to the place where you want to open the account.

It also has to do a lot with the banks' quality and level of the jurisdiction of the countries which are open to remote bank account opening, so think wisely.

One of the most commonly asked questions we receive here at Nomad Capitalist is: What is the fastest way to get the second passport and become a dual citizen?

There are four different ways to do it, depending on your needs - some more, some less quick:

- citizenship by investment, which may be the fastest option, in cases of St Kitts and Nevis or Vanuatu; - citizenship by descent, mostly connected with European countries and Canada, with UK and Ireland being the quickest options; - citizenship by naturalization, where the "best" countries, in this case, are Dominica, Peru, Armenia, etc. - citizenship by marriage, that could be tricky, but also worth considering.

The bottom line is - know your end goal and what you want to achieve by gaining that second citizenship and choose wisely.

How can you reduce your taxes on poker winnings? What are the best offshore strategies for poker players, depending on where you're from?

Jack Sinclair, a professional poker player from London, will give his side of the story and some advice coming from his own, or his colleagues' experience.

How do you make sure that you are legitimately a Bona Fide resident when qualifying for the US foreign income tax exclusion?

Some of the people who came to us were convinced that it is enough to spend only one day a year in Panama, for example, and all your US tax will go away.

However, it's not that easy, so make sure you understand the tax law and all the other laws that apply to you before going offshore.

Nowadays, the concept of being location independent, having more flexible working hours and not being tied to one office is becoming more and more appealing, as a lot of people are starting to follow this lifestyle.

Are you one of them? Do you want a nomadic lifestyle and to travel the world while working as a freelancer?

Or you want to have one, two or more bases where you live and work and from there travel to different places for vacation?

The most important thing is to know what YOU want and not just replicate other people's lives.

Everyone's path is different - follow your own.

Want to go offshore to reduce taxes, build personal freedom, and grow your wealth?

Creating a plan that manages your global business structure, offshore banking, second residence, tax residence, citizenship, and investments is complicated enough in the era of the "Nomad Tax Trap".

However, many people who come to us ask "How do I maintain my offshore structure once it's set up?"

While it's true that some parts of an offshore plan will need to be renewed or kept up to date, a properly created plan won't need constant changes.

We all love getting something for free, especially when it comes to potentially expensive things like plane tickets.

If you are a digital nomad or perpetual traveler, you probably have tons of airline and credit cards for collecting airline points.

Those cards represent a tie to your home country.

Be aware, if you are trying to make a tax reduction strategy for yourself, maybe you should think about getting rid of those cards, as they are just making the process harder.

One of the most interesting ways to obtain second passport is through your family and heritage, that is, through citizenship by descent.

And Armenia could be one of the countries with the easiest process of getting this type of citizenship.

You don't have to learn their language nor their constitution - all you have to do is prove that you have Armenian roots by gathering relevant documents, such as birth or baptismal certificate.

If you’re not familiar with the term, FBAR is the report of foreign bank and financial accounts for all US citizens involved in such actions.

The important thing to keep in mind is that there is only one way to escape this obligation and that is renouncing your US citizenship or your Green Card.

Attention: if you neglect to file this report, you'll be facing some severe penalties.

Ever since the digital nomad movement has taken off, people started to enjoy this feeling of not knowing where they'll end up next week or month. And that can be possible if your goal is to explore the world and not run a serious business.

However, if you're planning on building something bigger and earning lots of money, you'll soon realize that not having a planned schedule is not so convenient anymore.

We are talking about the new level of digital nomads - successful location independent entrepreneurs.

There are a lot of rumors regarding US citizens opening offshore bank accounts and if it’s possible at all.

And while it's true that some European banking centers like Switzerland and Lichtenstein closed their doors to the US citizens’ investments, due to FATCA, it is and it’s always been perfectly legal to do business outside of the United States.

In fact, there are a lot of other, maybe unexpected places, where it’s quite easy to open a bank account, even for US citizens, like Hong Kong, Armenia, and Georgia.

All you have to do is to forget about the "historical" offshore havens and get the different mindset

A phenomenon of "super savers" has become very popular lately, with financial gurus and consultants motivating people not to buy extra, unnecessary things, like Starbucks coffee, in order to save money for the future.

In our opinion, the only reasonable situation to do this is if you're part of the system and you have your stable monthly salary.

However, if you're "your own boss", you probably shouldn't be bothering yourself with these small savings, but try to figure out how you can increase your income or go somewhere where you can save a lot more of your money by not paying high taxes.

So, sacrifice temporarily, in order to grow in the future.

And buy your Starbucks coffee if you really enjoy it.

What makes the perfect country? Does it even exist?

There are a lot of factors and they are mostly individual and personal, but everyone can agree on some common ones, that make a country "perfect" to live in.

Good standard of living and infrastructure; friendliness of people and friendliness towards business and foreign investments; personal freedom; tax rate...

Maybe it sounds surreal, but those countries DO exist, you just have to find them and go where you're treated best.

At Nomad Capitalist, we preach to "go where you're treated best".

Beyond legal tax reduction or wealth creation, global citizens should also demand the best from daily interactions.

Being self-aware of the cities you want to live in, the service you expect, how your employees should work, and what you want out of life is important. Many digital nomads and perpetual travelers often ignore this, choosing to believe that ignorance is bliss.

By demanding the best in life, you're more likely to get it... and that's what the Nomad Capitalist lifestyle is all about.

If you're not satisfied with how you're living, you need to be aware that there is no magic pill to make it disappear.

Living the life you wish for, a different life with more freedom and more money requires action - something HAS to change.

What is more important, no one can do the stuff for you, you'll need to make a decision and find "a place where you're treated best".

Are you an aspiring Nomad Capitalist or digital nomad who wants to start a high-income business outside of your home country?

Millions of entrepreneurs, solopreneurs, freelancers, and investors have discovered how to create location independent incomes living and working from anywhere in the world.

However, the idea of starting a business outside of your country can be confusing, especially if you are doing that in a completely different country from your own. You may face cultural shocks, misunderstandings and other difficulties.