Andrew you are an absolute champion. I've been doing this for years myself but still paying the US tax man because I am a patriot. This year is the first year that I'll be truly escaping.
Just like some people like to stay in one place for a long time, others like to travel to other countries and experience their cultures and food throughout the year.
Me also I leave for Portugal soon for 3 months I am retired pension guy with my wife I always say to her sell mostly everything and we can rent anywhere in the world. luckily America has tax treaties with many countries to offset double taxation!
@@1powelrainbow2Watch a finance channel for that like Minority Mindset, the biggest takeaway from this channel is patience when investing if you’re looking for a ‘get rich quick’ scheme you’ll make the person selling that scheme rich and you’ll be broke! Bottom line is it takes time and research to find good investments so if you’re not prepared to do that then you will stay broke.
If you can get out of the US, I would advise getting out of the US for that reason alone. If you wasted money on a "worthless" college degree for example, you might be able to use that (and spending an extra $200 to get an online TESOL certificate like from ITTT for example) and get an English teaching job in Asia (I recommend Vietnam for that, I don't recommend Korea despite the fact that I actually liked my time there). Once you are in Asia, you don't have to bother with paying your student loans back (they will make it difficult for you to do that anyway). Since the cost of living is WAY lower than what your salary is likely to be, you can SAVE MONEY. The trouble is, you will need some upfront money for the airfare to get to Asia and for the first few months living there.
This is so inspiring, although I'm no where near being able to do this yet. Im 27 and its my first year making 200k/yr in sales after being broke. Its my dream to be able to live abroad and explore cultures, ive never felt at home in my home country in the US. These videos are so valuable to me! Thanks Andrew
So, not to be mean but this program is for people who are broke or have a low network. If you're wealthy and a entrepreneur, you would not need this strategy to pay little in taxes...
US citizen with tax base in US. Colombian permanent resident so planning on 182 days a year there and buying a property. Irish citizen and planning 4 months a year there (Summer). Finally 2 months a year in US visiting family in several states.
No. The threshold is 183 days. Here’s how it generally works to become a non-tax resident in Colombia: 1. **Physical Presence**: You should not be in Colombia for more than 183 days within any 365-day period. This essentially means spending less than half the year in the country. 2. **Income and Assets**: Less than 50% of your income and 50% of your assets should be located or managed in Colombia. 3. **Proof of Fiscal Residence**: You must provide proof of fiscal residence in another country to the Colombian tax authority (DIAN). If you can’t, you may still be considered a tax resident. 4. **Tax Haven**: If your fiscal residence is in a place considered a tax haven by the Colombian government, you may still be considered a tax resident.
You forgot to mention people can stay in the US tax free without residency or citizenship….. it’s amazing to hear about all of the laws all over the world and compare it to what’s happening in the US. Thank you for your generous videos. You give a lot of food for thought!
@@Garcia061 i think that children of people that run their own businesses will be less likely to want to work for someone else. so no need for a job education The education that these kids need will be "basic subjects" and beside that business related also , they learn a very nice lifestyle , to become a word citizen instead of a "1 country to live in for life citizen"
Me and my husband are playing this game since years - we are resident in Dubai and we spend 9 months a year among Asia and Europe. I agree the music is going to change when we have children - at that point our set up and profile will have to be more sophisticated.
Does it matter a lot where you are tax resident? In the end if you have an offshore company you can still have 0% tax on profits and then unless you give yourself a high salary it won't matter too much where your tax residency is.
1. Spain (Madrid), 2. Dubai. 3. Brazil (Rio) additional options would be Colombia, Mexico or Dominican Republic. With 1 month visit in Australia as my home country, that I already exited 5 years ago, and have only been back twice. I try not to spend time in Australia, it's too far and Andrew is right about the ATO, very aggressive.
I think it is cheaper for me to just live in my debt-free house in Canada and get hosed 40% income tax, than to incur all the travel and rental expenses that your method would entail. But I appreciate your creative thinking for higher income people than me.
Hi Andrew, great video. My question is when you trigger a tax residency is it just for that calendar year? and secondly if you have citizenship in one of three countries like Italy, Greece and Portugal can the trifecta plan work ?
I’ve never heard anyone pronounce the caucasus like that Andrew ! Great video though.. I’m in total admiration of you and your philosophy. warmest regards
Really appreciate your videos Nomad Capitalist. The only part you are not realistic on is once you have children, you cannot easily do this strategy without significant challenges in terms of child care, education and general stress of moving children around internationally. I lived abroad from my home country for 15 years and could easily pull off the no tax home strategy until I had two kids. Now, it’s unlikely to be a realistic strategy going forward. Since people like me (over 40) are actually the people with enough money to be your “8 figure clients”, I would appreciate if you could do more videos with the consideration for families with young children and how to make this work despite having US citizenship and worrying about FEIE. One example, if I have a company in the usa, can I pay myself while living overseas up to the maximum FEIE amount and pay no income tax in the US? This could be a strategy to pursue if it works for Americans. Or does this company need to be based in a zero tax place like Dubai to work like this?
FEIE does not eliminate the requirements to pay 15.3% FICA. Also the AMT kicks in some scenarios. Also I do not understand his implication of having no tax home. Generally speaking if you have an official residency in some countries (e.g. Mexico) they will claim you as a tax resident if you do not claim yourself as a tax resident somewhere. I think the only reliable way his strategy works is to have tax home in a 0% (or low) tax country. The only reason to travel then is because you do not like living in said tax home, e.g. some Caribbean island. The U.S. personal income tax is entirely invalid and unconstitutional but that is a different topic.
Great video, what about the social aspect of life like having friends you can hang out with regularly... How do you go about maintaining those relationships? Thanks!
Way too complicated for me. I can spend six months away from Canada for economic/weather/health benefits on a remote worker visa and maintain Canadian residency without paying super high taxes by accessing tax planning through corporations/self-employment/rental property ownership. Income earned in a small business in Canada under 500k/year is very low tax and comes with a huge lifetime capital gain exemption when sold that can be multiplied among family members. Primary residences the same. Big mistake to not utilize these as a Canadian. The strategy above is the kind of thing that might make sense for a person making super high annual income with little control over how it is paid out - not sure who that is.
Wow, thanks for this info! Right now I'm just a small-time investor, but I'm hoping to be 'rich' in a few years, and living in Canada I would be in the maximum tax bracket if I was making a few million per year in capital gains. The health care system in Canada is quickly falling apart and I'd be looking at living in countries where the level of health care is better than Canada's over-burdened system.
Gr8t Presentation! As a matter of interest ( which u may Know) Thailand is in the Process of Dramatically changing their Tax System! ..But may pull the plug! Knowing Thai's💥💥
If you stay 179 days in Thailand and travel a lot of different countries the rest of the year, will you not be taxable anywhere (home country in Europe which you not visit anymore)?
Not advised. What happens years down the road when you become a tax resident somewhere again. The first question that will come up is where you've been tax resident for the past years. "Nowhere" is not an answer that will be well received.
Every country has its own unique laws and issues to consider. We help our clients figure this out with a whole network or lawyers and accountants all over the world, so it’s hard to answer for any country for any number of days. Theoretically it’s possible.
Making 4 Countries: Brazil, Portugal, Thailand and one random place every year, which can be in the EU or Asia. I also try to spend always less than 90 days , so 87 , 88 days and then I might go for 1, 2 weeks to UAE Dubai for a vacation.
Did you know, if one changes his citizenship to national, then he is nolonger considered a taxpayer to IRS or federal and state income taxes. As a US national, a nonresident, not a US citizen, able to have an income tax free status. This is amazing, isn't it?
Since i speak pretty good Spanish and time zone considerations I am heavily thinking about a latin America trifecta. Paraguay and Mexico are contenders. I will keep America in there as well because i have property to check on. I also think about the MENA region and SE Asia(mainly Morocco or Tunisia and Indonesia and southern Philippines) those would mainly be for religious reasons but i would have to learn another language in many of those places and I've been speaking Spanish for 20 years now.
I am sure that I don't have the money to implement this strategy. Listening to Andrew's videos give me ideas of where to move & how to move elsewhere. They are useful even if I don't make 6 figures.
With this plan, you don't need a 6-figure income.... All the places he's mentioned are by far 30-60% lower than the major Western countries - if you dig, and not even dig that hard, it'll be almost 70% lower. The wealthy do not use plans like this especially if they're entrepreneurs!
Fantastic video, as always. I have to admit, when you mentioned the sexfecta, something different popped into my mind initially. 😂 I know this is a reputable channel, so shame on me! 😂
@@nomadcapitalist Agreed. I do like the idea of spending a few months on Dominica, Antigua and Barbados as well as time in the U.K. - a tax practice in all four locations.
I speak some Portuguese and spent 2 years there as a missionary, so Portugal would be on the list. I like the idea of Puerto Rico or El Salvador, maybe Brazil. For Asia I would be eyeing the UAE or Malaysia. United States would be hard to leave completely as my businesses and real estate are all here. Not sure how that would work.
I like your suggestion of having 3 places in 3 different continental areas. Georgia would have been 1 for me. But I read yesterday that they are now piloting their central bank digital currency with Ripple. Kind of don't want to reside and have a bank account in a country that uses a CBDC. Just visiting as a tourist for a couple of months is ok I guess. Mexico, Ecaudor, Malaysia, Maldives (local islands not resort ones), and Eastern Europe...as long as there's not a war.
What's the point in getting permanent residency in Colombia if you're going to be there for less than 183 days? Just go on a tourist visa. If you're going to stay longer with a permanent residency you're going to trigger tax residency.
We have limited amount of money and limited amount of time, and we should optimize both. Isn't it boring to live couple months a year in Monténégro or Kuala Lumpur? Better pay some taxes and spend time in more vibrant places.
Help me find Winter season job 4 Months In Ireland then I can stay 7 months in Malta or Cyprus working both hotels. I speak Greek and English. I am 25 years old
Short term goal: dual US citizen, non-US spouse, 50 adult children, 5000 grandchildren, free flights on multiple airlines, live anywhere for any length of time, private army, zero income tax... Long term goal? Anyone?
Good strategy overall. Note: This strategy GENERALLY will NOT work if you are a U.S. citizen / tax resident (e.g., Green Card holder). That said, you MAY be able to exclude certain types of income under the FEIE rule but not that much.
@@nomadcapitalistIt makes it complicated though. I’m an alien who no longer lives in the US but I receive income there and the UK HMRC and IRS can’t decide who I should pay tax to. I would have to fully divest of UK assets and then become fiscally resident in a territorial tax country - eg Panama, to make this work.
With the right structuring you may be able to shield some income using for example Treaty countries and avoid double tax with FTCs but generally speaking Subpart F and other U.S. anti-avoidance regimes make it VERY difficult and costly.@@Garcia061
@@nomadcapitalist FEIE might be a good white board subject on it's own. Or maybe an interview with an expat tax expert? I imagine it would be popular with folks trying to look at the numbers before moving. (or better said: Going where they're treated best)
Please keep doing this type of video so people don't tisk their lives coming to the US illogically so taxpayers have to continue to support them. The grass isn't all greener on the other side. I can't imagine that the onece great nation gets nowadays. No other country or system in the world would put up with this abuse.
Andrew you are an absolute champion. I've been doing this for years myself but still paying the US tax man because I am a patriot. This year is the first year that I'll be truly escaping.
Dump question here! Why not just find one low/no tax country and live there! What is the point of moving around! Just for fun?
Just like some people like to stay in one place for a long time, others like to travel to other countries and experience their cultures and food throughout the year.
Me also I leave for Portugal soon for 3 months I am retired pension guy with my wife I always say to her sell mostly everything and we can rent anywhere in the world. luckily America has tax treaties with many countries to offset double taxation!
@@sbadrawi2011a I can not decide without seeing and I may want to stay in multiple countries. I was very excited to hear about American tax treaties!
I need a Nomad Capitalist for ppl on a budget
I dont even know why i watch this videos, i'm completely broke 😂
It means that one day you will be rich, that's why
Same here! Good thing is he actually is teaching us the status of the world. But we need him to show us how we get rich.
Maybe to activate and retain knowledge that might oneday benefit you.
Its also informative & motivating
@@1powelrainbow2Watch a finance channel for that like Minority Mindset, the biggest takeaway from this channel is patience when investing if you’re looking for a ‘get rich quick’ scheme you’ll make the person selling that scheme rich and you’ll be broke! Bottom line is it takes time and research to find good investments so if you’re not prepared to do that then you will stay broke.
If you can get out of the US, I would advise getting out of the US for that reason alone. If you wasted money on a "worthless" college degree for example, you might be able to use that (and spending an extra $200 to get an online TESOL certificate like from ITTT for example) and get an English teaching job in Asia (I recommend Vietnam for that, I don't recommend Korea despite the fact that I actually liked my time there). Once you are in Asia, you don't have to bother with paying your student loans back (they will make it difficult for you to do that anyway). Since the cost of living is WAY lower than what your salary is likely to be, you can SAVE MONEY.
The trouble is, you will need some upfront money for the airfare to get to Asia and for the first few months living there.
Honestly this cannot be overemphasized, helping people mitigate unforseen circumstances and mistakes .It's always good to have a financial plan,
This is so inspiring, although I'm no where near being able to do this yet. Im 27 and its my first year making 200k/yr in sales after being broke. Its my dream to be able to live abroad and explore cultures, ive never felt at home in my home country in the US. These videos are so valuable to me! Thanks Andrew
So, not to be mean but this program is for people who are broke or have a low network. If you're wealthy and a entrepreneur, you would not need this strategy to pay little in taxes...
For a surfer: France / El Salvador (bitcoin) or Nicaragua / Sri Lanka or Bali.
El Salvador allows 180 days with a tourist visa.
I can't believe that it is exactly what I planning...Thanks for the reassurance!
Best of luck!
The "sexfecta" means something differently to me.. 🤣🤣
2 months ? 😅
US citizen with tax base in US. Colombian permanent resident so planning on 182 days a year there and buying a property. Irish citizen and planning 4 months a year there (Summer). Finally 2 months a year in US visiting family in several states.
If you have permanent residency in Colombia you're a tax resident and paying 39% on your global income.
No. The threshold is 183 days.
Here’s how it generally works to become a non-tax resident in Colombia:
1. **Physical Presence**: You should not be in Colombia for more than 183 days within any 365-day period. This essentially means spending less than half the year in the country.
2. **Income and Assets**: Less than 50% of your income and 50% of your assets should be located or managed in Colombia.
3. **Proof of Fiscal Residence**: You must provide proof of fiscal residence in another country to the Colombian tax authority (DIAN). If you can’t, you may still be considered a tax resident.
4. **Tax Haven**: If your fiscal residence is in a place considered a tax haven by the Colombian government, you may still be considered a tax resident.
You forgot to mention people can stay in the US tax free without residency or citizenship….. it’s amazing to hear about all of the laws all over the world and compare it to what’s happening in the US. Thank you for your generous videos. You give a lot of food for thought!
@@torontovoice1yep children and education really make this hard if you want your child to have some kind of social continuity
@@Garcia061 i think that children of people that run their own businesses will be less likely to want to work for someone else.
so no need for a job education
The education that these kids need will be "basic subjects" and beside that business related
also , they learn a very nice lifestyle , to become a word citizen instead of a
"1 country to live in for life citizen"
Me and my husband are playing this game since years - we are resident in Dubai and we spend 9 months a year among Asia and Europe. I agree the music is going to change when we have children - at that point our set up and profile will have to be more sophisticated.
Great video. My trifecta… Italy, Turkey, and UAE
Very nice!
Does it matter a lot where you are tax resident? In the end if you have an offshore company you can still have 0% tax on profits and then unless you give yourself a high salary it won't matter too much where your tax residency is.
As a Norse Pagan myself I love that thumbnail, I literally translated every single rune on that whiteboard! Skål ⚔️
1. Spain (Madrid), 2. Dubai. 3. Brazil (Rio) additional options would be Colombia, Mexico or Dominican Republic. With 1 month visit in Australia as my home country, that I already exited 5 years ago, and have only been back twice. I try not to spend time in Australia, it's too far and Andrew is right about the ATO, very aggressive.
I usually spend 9 months on the road and then 3 in Europe between Italy and Poland to see my family
I think it is cheaper for me to just live in my debt-free house in Canada and get hosed 40% income tax, than to incur all the travel and rental expenses that your method would entail. But I appreciate your creative thinking for higher income people than me.
He owns seven homes.
I would rather spent the money travelling than give it to the mfking tax man !!!
Government wants money, go fking work for it just like I do !!!
the homes he owns and rental income and business write offs probably pay for his flights and don't forget business flights are a write off too.
Hi Andrew, great video. My question is when you trigger a tax residency is it just for that calendar year? and secondly if you have citizenship in one of three countries like Italy, Greece and Portugal can the trifecta plan work ?
no
I’ve never heard anyone pronounce the caucasus like that Andrew !
Great video though.. I’m in total admiration of you and your philosophy.
warmest regards
Awesome! Thank you, Andrew! 🙏🏻🏆✨✨✨❤️❤️❤️
I visited Croatia this Summer. Lovely people and low crime !
Thank you nomad capitalist
Really appreciate your videos Nomad Capitalist. The only part you are not realistic on is once you have children, you cannot easily do this strategy without significant challenges in terms of child care, education and general stress of moving children around internationally. I lived abroad from my home country for 15 years and could easily pull off the no tax home strategy until I had two kids. Now, it’s unlikely to be a realistic strategy going forward. Since people like me (over 40) are actually the people with enough money to be your “8 figure clients”, I would appreciate if you could do more videos with the consideration for families with young children and how to make this work despite having US citizenship and worrying about FEIE. One example, if I have a company in the usa, can I pay myself while living overseas up to the maximum FEIE amount and pay no income tax in the US? This could be a strategy to pursue if it works for Americans. Or does this company need to be based in a zero tax place like Dubai to work like this?
FEIE does not eliminate the requirements to pay 15.3% FICA. Also the AMT kicks in some scenarios. Also I do not understand his implication of having no tax home. Generally speaking if you have an official residency in some countries (e.g. Mexico) they will claim you as a tax resident if you do not claim yourself as a tax resident somewhere. I think the only reliable way his strategy works is to have tax home in a 0% (or low) tax country. The only reason to travel then is because you do not like living in said tax home, e.g. some Caribbean island. The U.S. personal income tax is entirely invalid and unconstitutional but that is a different topic.
Thank you Andrew!
Great video, what about the social aspect of life like having friends you can hang out with regularly... How do you go about maintaining those relationships? Thanks!
Can you make video about small countries opportunities like Leichetenstein?
Way too complicated for me. I can spend six months away from Canada for economic/weather/health benefits on a remote worker visa and maintain Canadian residency without paying super high taxes by accessing tax planning through corporations/self-employment/rental property ownership. Income earned in a small business in Canada under 500k/year is very low tax and comes with a huge lifetime capital gain exemption when sold that can be multiplied among family members. Primary residences the same. Big mistake to not utilize these as a Canadian. The strategy above is the kind of thing that might make sense for a person making super high annual income with little control over how it is paid out - not sure who that is.
Bravo! Like this a lot.
Portugal / Philippines / Panama
Very interesting ! My dream. Thanks for this introduction to my dream !
Dubai UAE , Malta ,Thailand
Thank you, Andrew 🎉😊❤ I concur 😅🎉
Wow, thanks for this info! Right now I'm just a small-time investor, but I'm hoping to be 'rich' in a few years, and living in Canada I would be in the maximum tax bracket if I was making a few million per year in capital gains. The health care system in Canada is quickly falling apart and I'd be looking at living in countries where the level of health care is better than Canada's over-burdened system.
Mexico, Thailand, Georgia.
How about a 5.75 month in one place, a 5.75 month in another and about 2 weeks in another, would you still call this a trifecta? If not, why then?
🤔at about 5:31- what is "koal and poor"??
Kuala Lumpur a city in Malaysia
Belarus considers its citizens as tax residents if they do not have tax residency in any other country.
Portugal and Malaysia.
I had to move out of my Home yesterday so kindly suggest suitable Guidelines for me
Gr8t Presentation! As a matter of interest ( which u may Know) Thailand is in the Process of Dramatically changing their Tax System! ..But may pull the plug! Knowing Thai's💥💥
Keep an eye on our channel for the video about it!
If you stay 179 days in Thailand and travel a lot of different countries the rest of the year, will you not be taxable anywhere (home country in Europe which you not visit anymore)?
What I described is basically what he explained with 3x4 months in countries, I do 6 and 3x2 months... why you even watch the video?@@torontovoice1
Not advised. What happens years down the road when you become a tax resident somewhere again. The first question that will come up is where you've been tax resident for the past years. "Nowhere" is not an answer that will be well received.
What is about Andorra in Europe? Can it be used instead of Malasya?
Every country has its own unique laws and issues to consider. We help our clients figure this out with a whole network or lawyers and accountants all over the world, so it’s hard to answer for any country for any number of days. Theoretically it’s possible.
If I leave Canada permanently, what should I do for my driving license? should I have one for each country?
We would be happy to discuss it with you! www.nomadcapitalist.com/apply/
your Best video yet, thank you
Glad you enjoyed it!
Making 4 Countries: Brazil, Portugal, Thailand and one random place every year, which can be in the EU or Asia. I also try to spend always less than 90 days , so 87 , 88 days and then I might go for 1, 2 weeks to UAE Dubai for a vacation.
Did you know, if one changes his citizenship to national, then he is nolonger considered a taxpayer to IRS or federal and state income taxes. As a US national, a nonresident, not a US citizen, able to have an income tax free status. This is amazing, isn't it?
Mexico, Spain/France, Thailand/Vietnam
Since i speak pretty good Spanish and time zone considerations I am heavily thinking about a latin America trifecta. Paraguay and Mexico are contenders. I will keep America in there as well because i have property to check on. I also think about the MENA region and SE Asia(mainly Morocco or Tunisia and Indonesia and southern Philippines) those would mainly be for religious reasons but i would have to learn another language in many of those places and I've been speaking Spanish for 20 years now.
Bro just come to Morocco
I've met many expats no one is asking them to pay any taxes whatsoever
I would have to say Thailand, Paraguay/Brazil, And either Croatia/Georgia..... I'm kind of not really set yet, but will be soon....
where will you pay taxes?
@@NicolaAmadio Depends on the rules of the country/countries you are going between.....
I am sure that I don't have the money to implement this strategy. Listening to Andrew's videos give me ideas of where to move & how to move elsewhere. They are useful even if I don't make 6 figures.
With this plan, you don't need a 6-figure income.... All the places he's mentioned are by far 30-60% lower than the major Western countries - if you dig, and not even dig that hard, it'll be almost 70% lower. The wealthy do not use plans like this especially if they're entrepreneurs!
Perhaps 4 x 90 day tourist visae
My understanding is as a digital nomad in Malaysia you don't pay tax? Is this visa renewal ongoing does anyone know? TIA
Thank you bro
any ideas on how to rent for three months? make a great video....
Serbia 🇷🇸, Thailand 🇹🇭 and Croatia 🇭🇷
Fantastic video, as always. I have to admit, when you mentioned the sexfecta, something different popped into my mind initially. 😂 I know this is a reputable channel, so shame on me! 😂
UK (citizen) Dominica (citizen) Barbados (OECS)
Barbados is part of Caricom, not the OECS.
@@nomadcapitalist Agreed. I do like the idea of spending a few months on Dominica, Antigua and Barbados as well as time in the U.K. - a tax practice in all four locations.
Spain and Thailand or Malaysia, just keep below the 180 days i. each. Not sure why you need a third..
I speak some Portuguese and spent 2 years there as a missionary, so Portugal would be on the list. I like the idea of Puerto Rico or El Salvador, maybe Brazil. For Asia I would be eyeing the UAE or Malaysia. United States would be hard to leave completely as my businesses and real estate are all here. Not sure how that would work.
Nice runes
I have an EU passport, I trade forex, which country would offer me the lowest tax rate that I could make it my tax home?
I like your suggestion of having 3 places in 3 different continental areas. Georgia would have been 1 for me. But I read yesterday that they are now piloting their central bank digital currency with Ripple. Kind of don't want to reside and have a bank account in a country that uses a CBDC. Just visiting as a tourist for a couple of months is ok I guess. Mexico, Ecaudor, Malaysia, Maldives (local islands not resort ones), and Eastern Europe...as long as there's not a war.
Thailand is bring in a new rule next year wear if your here 180 days or more. They want you to pay tax here
It seems like world taxes are catching up with nomads!!
Yes, but generally not full tax. Stay tuned for an update this week.
I am a forex trader profiting from the markets, is there anything for us to save on taxes?
What's the point in getting permanent residency in Colombia if you're going to be there for less than 183 days? Just go on a tourist visa. If you're going to stay longer with a permanent residency you're going to trigger tax residency.
How your kids go to school if you move to a different country every 4 months?
If you are retired living from pasive income: live 5 monts in country A, 5 months on country B , and 2 months traveling as a tourist around the world
What about childrens at school age? Is there homeschooling the only option?
Caracas Venezuela
Vienna Austria
Tokio Japan
I like the Sexfecta! 😜🤪😁
2 countries suffice, no?. Tax residency hits at circa 180 days
What about the extra 5 days and 6 days in leap years
We have limited amount of money and limited amount of time, and we should optimize both. Isn't it boring to live couple months a year in Monténégro or Kuala Lumpur? Better pay some taxes and spend time in more vibrant places.
I think Musk has the right idea. Take a trip in space & live on another planet where they can't steal your hard-earned money.
My trifecta:
1. Malaysia
2. Italy
3. TBD (Thailand / Switzerland / Norway / Sweden or a mix in the summer)
where do you pay taxes?
@@NicolaAmadioThe country where you have your assets like earned dividends, rental income etc, no?
me likely Ireland,Serbia,Thailand or Russia
that's a good one! taxes in ireland? do you need to spend there 6 months for tax residency?
@@NicolaAmadio I'm not 100% sure
Help me find Winter season job 4 Months In Ireland then I can stay 7 months in Malta or Cyprus working both hotels. I speak Greek and English. I am 25 years old
If your kids live there, you’re taxable.
Definitely not a lifestyle for people with kids?
new rules, foreigner now can own apartment in Indonesia, might wanna look into it
Short term goal: dual US citizen, non-US spouse, 50 adult children, 5000 grandchildren, free flights on multiple airlines, live anywhere for any length of time, private army, zero income tax... Long term goal? Anyone?
Hi, with such plan you need to ask God to leave you on earth at least 300-500 years, it is doable, better believe it =
@@wavemastery1786 Tell that to Genghis Khan... Hint: he could have done it without killing anyone if he had multiple citizenships
The world is not enough
Yes - we call the Notary Fee in Mexico the "Getting Raped" fee.
Good strategy overall. Note: This strategy GENERALLY will NOT work if you are a U.S. citizen / tax resident (e.g., Green Card holder). That said, you MAY be able to exclude certain types of income under the FEIE rule but not that much.
That’s not really true.
I'm all ears (and it is true hence the term "generally").@@nomadcapitalist
@@nomadcapitalistIt makes it complicated though. I’m an alien who no longer lives in the US but I receive income there and the UK HMRC and IRS can’t decide who I should pay tax to. I would have to fully divest of UK assets and then become fiscally resident in a territorial tax country - eg Panama, to make this work.
With the right structuring you may be able to shield some income using for example Treaty countries and avoid double tax with FTCs but generally speaking Subpart F and other U.S. anti-avoidance regimes make it VERY difficult and costly.@@Garcia061
@@nomadcapitalist FEIE might be a good white board subject on it's own. Or maybe an interview with an expat tax expert? I imagine it would be popular with folks trying to look at the numbers before moving. (or better said: Going where they're treated best)
🎉🎉🎉🎉🎉
The homeless vagabond life is not for me.
Fortunately there are plenty of places you can spend the full year.
rich people dont pay taxes.
Please keep doing this type of video so people don't tisk their lives coming to the US illogically so taxpayers have to continue to support them. The grass isn't all greener on the other side. I can't imagine that the onece great nation gets nowadays. No other country or system in the world would put up with this abuse.
Trump 2024
Thank you sooo much