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/2016/04/01/reasons-leaving-southeast-asia/
Andrew@nomadcapitalist.com/
Antifragile by Nassim Nicholas Taleb