Only visited Dubai for a quick 24 hour visit, and while I am comfortable in the Cayman Islands, I'd rather live in Mexico or Serbia etc and pay whatever taxes they want, than live in the UAE or on any tiny island. Good points about enjoying life, being surrounded by genuinely friendly/happy people makes all the difference.
Panama is really good. We pay no taxes on our property forever because it is registered as being under $125K. There are no taxes on any money made outside the country. Also we pay no Canadian capital gains taxes because we are non residents. We can buy stuff on Amazon tax and duty free if it's under $100. The only tax we pay is a 7% sales tax. One thing no one seems to mention is WHERE you live WITHIN a country is just as important as WHICH country you choose to live in.
I love what you say about not wanting to be part of the 4 year cyclical voting cycle, team red vs team blue. Its sooo draining and I'm not about it at all.
I’ve lived in the UAE for close to 10 years and the lifestyle is hard to beat. Dubai in particular has most of the benefits of any other city (it’s multicultural, you have access to most of the shops and brands you have in the US or UK, as an expat you can have a very active social life or choose to live quietly). There are downsides of course, once the novelty of tall shiny buildings wears off you miss nature and a certain ‘quirkiness’ that you can find in other countries. That being said if you can live here and spend 3 or 4 months overseas to avoid the harsh summer heat, you can soak up all the nature and culture you miss during that time and return back to a very safe and very comfortable lifestyle. Also, it’s a great travel hub where you can take a long weekend trip to parts of the word like Africa, Seychelles or Maldives for a reasonably low price and quick flight.
Personally, I could never understand the attraction to UAE. Hot, desert, new tall buildings and shopping malls. Yes, there is a lot one can do there, but the whole thing seems artificial. Paying no taxes is nice though.
@@henrik4438 Who says US or Christianshavn, Copenhagen are atractive? Desert is fascinating for 2 days for me personally. Again, this is my opinion. I would say, if Tuscany or Provence had the same tax laws no one in the right mind would live in the UAE. It is ugly, in my opinion.
@@henrik4438 and healthcare is affordable with right kind of insurance! Ton of places with low rise and villas. There's something for everyone here in UAE!
I have been living and working in Nassau Bahamas for the past 6 years. The lack of income taxes notwithstanding, the cost of living here is very high. Food costs 2 to 4 times as much as the USA, as do most other things. Petrol is $4/gallon.The infrastructure is very poor. The roads are like the surface of the moon and there's flooding every time there's heavy rain. The crime rate is also high. As for taxes, there's a 12% VAT on most items. If you have items shipped from abroad, the tax duties can be as much as 50%. As the availability of many items in the Bahamas is lacking, you will have to frequently order items from abroad. Before the Bahamas, I lived in Abu Dhabi for 5 years. The UAE has the best infrastructure in the world. In 5 years, I never encountered a pothole. Crime in the UAE is almost non-existent. Of course, you never have to worry about rain, but there are sand storms and heavy fogs in the winter. As for shopping, anybody who says that money can't buy happiness hasn't been to the Dubai Mall. The UAE can easily satisfy the most rabid shopaholic. Keep in mind that the temperatures in the UAE can reach 50C (120F) in the summer. This could easily kill an old or unhealthy person. As I still own property on Rheem Island worth more than 1M AED, I could easily obtain an Emirati visa. However, I don't think the UAE is a good place to retire. I've decided to live in Armenia in the summers and Vietnam in the winters.
Did you guys notice the Winter problem? I tried to solve it with a place to live where the Winters are mild and the cost of living is low: Sandanski, Bulgaria. But of course I am also a rabid shopaholic. So: I think about Thiruvananthapuram, India. (because I need a car, too;-PPPeace Nic, The Swiss Xxx Digital Nomad
There's so much to do in Monaco... The Grand Prix The Yacht Show The Best Restaurants The Luxury Brands for Shopping The Weather Of course it's expensive! You're surrounded by billionaires. So all real estate is Prime Real Estate. Even a tiny studio apartment will cost you a whole lot of money. What else do you expect? You've Got To Pay To Play, Baby
Very surprised that Panama was not mentioned. I worked and lived for almost 3 years in the Gulf States, now living in Panama. Dollarized currency, climate in the highlands,proximity to US, availability of food choices (New Zealand butter, Australian wine, French Cheese, etc) Amazon deliveries very easy...
Tnx Berbo,,i live in Panama for 17 years ,,,and very happy,,im Dutch (Captain) and work all over the world,,middle East for more than 10 years,,,and now heavily into crypto trading ,,,for my pension
Haha. How do you get Amazon to work well for you? I have such a hard time getting anything sent. The whole no zip code thing really seems to mess everyone up.
I’m into Belize! English language, Belize Peso. One time property tax, No Inheritance tax, no capital gains tax. It’s easily accessible to Florida. It’s a developing economy. But also $130k Canadian gets you a decent home in Dubai.
I live in Abu Dhabi and personally feel both Dubai and Abu Dhabi are amazing cities to live in. English is an official language, about 88% of the population are expats from all over the world, and the people are very friendly. Abu Dhabi is identified in numerous studies as the safest city in the world, with Dubai not far behind. With the global diversity in cultures, you have the opportunity to get to know people from all over, including countries sometimes considered verboten, such as Iran, Iraq, Pakistan, Syria, Beirut, etc. In doing so, you discover that people the world over have common core values. At their heart, all people want is just to live their lives in peace, and to make a better life for themselves and their families. Somehow, in the UAE, it just works.
I'm moving to the UAE in a few weeks. I discovered the UAE back in 2003. I know this sounds strange but I felt a greater sense of freedom in the UAE than the US.
freedom.. maybe for white people that already have an economic advantage over everyone and they like to cut corners and not work hard like hispanics, asians, etc
Not sure that the UAE is a place where you want to plant a flag, if you are in Transit, sure, you can spend some time there, but to live there, you have to be willing to look the other way for a lot of things. First, the incredibly racist 2 way system, the fact that for employment, companies have 2 HR departments, one for Tier 1 Passports and the other for nationalities that are being taking advantage of (Indian, Nepalese, Bengali,etc) The whole country has been built on slave labor. Further, you could be an Arab speaker, lived in the UAE for 20 years, you will always remain a stranger, despite talks of the opposite, citizenship is never granted to people besides full Emiratis. These are few examples of how the system works over there.
@@paulpierce7387 Voluntarily and paid?! They bring those foreign workers, confiscate their passports (preventing them from leaving) and withhold their pay, forcing them to repay a debt that is fictitious with the goal of taking exploiting them. You need to get informed Paul, you sound like a slavery apologist.
My retirement income is tied to the US, so I pay a ton of taxes there. Having said that I’ve retired to the Philippines as a widower. All my money is tied to US banks, and any consulting income (I still do a spot of work now and then) also goes into US banks. I pay zero Philippines income taxes on any of my US income. I moved to the Philippines, because I like the cost of living, the fact everyone speaks English, most people are Catholic (Christian values), everyone I have met is friendly, and so far my girl friend has treated me better than US women I’ve met. The only part about this “retirement” is the amount of paperwork involved in just the day to day US grind. My late wife used to do it while I was globe trotting around the world, but now I feel like I’ve inherited an unwanted job. The Philippines may be a cash society, but I get by with a minimal amount of paperwork...enough ranting. I need to be fishing.
Vanuatu works for me. 80 islands, sailing, scuba diving, snorkeling, surfing and kite-boarding. The financial services sector is no Switzerland or Singapore, but the tax regime is looking pretty good compared to Canada. Wonderful people, living simple lives. Plus, like a bunch of Pacific island nations, they shut their borders for Co-Vid, but life continued on the ground without ridiculous lockdowns and confinement. Surf's up !
I dont think he said you have to be stuck in Vanuatu to get the tax benefit, he said you dont need to. But the hypotethical question was if for whatever reason you had to be where would he go
Definitely agree with your sentiment about being somewhere where the people are nice. It makes such a big difference! We've been living in Nicaragua for the last year and the people around us have made us feel so welcome. Also loved how you called out Bangladesh for having super friendly people - that's been our experience as well!
What a wonderful, easy-going style of talking about some pretty tough issues. Love NC's fluency in juggling so many seemingly dissimilar jurisdictions worldwide. He brings a certain "dynamism" (to use his word) to international financial affairs rarely seen in the mass media. Listening to him is like watching a movie as he compares countries, islands, and their socio-cultural strengths and weaknesses in a way that resonates with viewers/listeners.
Well, Mr. Henderson. I got tired of asking "what if." I just set an appointment to get my passport. I'm not your 7/8 figure client, but I'm not just going to sit around and wait. Keep up the work.
UAE, Dubai, especially with the world islands being built up over the next decade. I should add I left San Diego CA in December and now live in UAE. It has elements of the convenience of the US, has cafe culture like Europe, some great South African restaurants, bars and cafes. Asian influences in some of the hotels and resorts. Geographically positioned very well. I'm actually doing as you say and bringing my parents out here and my sister already lives here. Dubai is definitely the most liveable city in the gulf, plus you can go scuba in Fujairah, mountains in Rak, ski in the mall and great beaches.
@@rubiks15 90% expats, tons of Brits & Aussies. Haven't even considered language as a barrier since we got here. My sister says after 6 years of being here she's never had a language issue.
Oh yeah. You get all there. Close to other countries too. Am thinking of moving there myself. Been flying there every 2/3 months before Covid. Am so addicted to that place. Hahah
The world islands, is that a joke? They’ve been trying to build that since 2008, and have no plans to actually make it a reality. It’s a failure of a capital project, and people should be looking elsewhere.
San Diego ...love that place. UAE has some cool cities and for safety, cleanliness and Peaceful living it’s great. Just got to watch out for the Dubai douches - lol
Why wasn’t Panama on this list? More fun than the middle east, no cultural hang ups with relationships or alcohol, cheaper, mountains and beaches to explore, not too remote...
@@JoeyJ1984 terrible. Ok they did well keeping the numbers under control but there’s gender restrictions on shopping, men and women can go shopping on alternative days, stuff like that. Pretty rotten to segregate the sexes like that
What about Oman? It's tax free and also quite a liberal country in the region. You mentioned that you prefer the UAE to Bahrain and Qatar because they are too small, but what about Oman. Oman is the 2nd largest Arabian Gulf state after Saudi Arabia. The capital Muscat has come on leaps and bounds over the last 10 to 20 years. It's got less of the international flavour as a City like Dubai for example, but it is still a very comfortable modern city to live in. There are also many more places to visit and see in Oman. While the UAE seems to be the go to place for most people, I personally think that Oman is a little bit overlooked.
Great content. I completely agree with the intangibles like "are the people around me genuinely kind.". Another one for you: "do the locals only see me as a walking dollar sign?"
Monaco is really a great place to have as a Autumn/Winter base for someone like me that actually likes having cold for Winter months. And 90% of the people that make Monaco obnoxious move out in October only to return in May. Restaurants get more civil, the roads are less congestionated so you can actually go fast into the hills, every single patisserie has room and is quiet and the French cities around Monaco are all deserted. Its my kind of place. Although this year I had to spend most of my winter months in the UAE, KSA and Kuwait because of friends inviting me over in I really love Monaco. EDIT: With airplane being the travel method of choice from Monaco you can get to Switzerland in half an hour, to Paris in one hour and to London in an hour-and-a-half. That's very hard to beat and the biggest problem for me when thinking of the UAE. When you finish all the partying and Cars & Coffee events in Dubai if you take the plane anywhere it takes a long time. I can go to London, get my measurements taken for some suits, have lunch at The Berkeley, go for some new bespoke shoes and shirts, have tea with some friends and be back in Monaco for dinner. That's very hard to beat.
can I discuss the monoaco ta resicendcy situation with you further? I'd like to know how I could pursue this from someone who seems like they've done it
Great video and 100% correct in my opinion. I live in Dubai since 2009 and indeed is a great place. Easy, friendly people, great lifestyle, eight months of great weather, safe for the kids and ability to save a lot of money (you can spend a lot too though). No intentions to go back to Spain anytime soon.
how can you compare Spain rich history, culture, arts, architects, European life style and intelligence and freedom of expression as human and faith. with only saving money is not the real happiness and you or your kids never will be that country citizen....that's a slap on the face and disgrace to humanity....think about it
@@skyone6531 wow - people who have lot of cash - can easy say -“ money is nothing “ try to live without money “ if you ever try , you will never say it again -money is nothing ….
With Monaco you should be able to just seamlessly drive into France. Maybe now is different because of COVID, but in normal times it should be seamless
@@goldstein10493 it borders France so if you are in France just outside Monaco, 1 second. But if you want the closest city in France, that is Nice, 26 mins away
Years ago, I would have said that someone who wanted to renounce US citizenship/live outside CONUS full time was a nut. Nowadays with the current political and socio-economic climate here in the US, I can understand why people- especially those of means, would do it. Leaving the US/ renouncing my US citizenship is not a realistic option for me, but if it is for you, rock on. If everyone lived with the attitude of "you do you, I'll do me" and not try to control others' lives, the world would be a much better place.
I agree with your stance on not worrying about politics. I spent 5 years living in Abu Dhabi and actually found it strangely relaxing not caring about local politics. I had no ability to affect local politics, if things got too bad I would just leave. I never read local news or watched local TV. It is quite liberating not to care about anything. However I found the concrete jungle, weather and dry climate very depressing in the long run, it was not just for me. I am more a tropical beach person, I am happy in boardshorts and sandals so I would prefer the Caribbean island life where you are still close enough to travel to big cities if the need arises.
There's no perfect country. My husband and I (UK) have lived in 8 countries and travelled to several others. We've been in the Middle East for a number of years and decided to retire in Bahrain, Amwaj Island, from where we can hop to Dubai for entertainment whenever we wish. Sure, there are a few things we have to overlook here, but overall this has been a good option for us.
I like hot weather but UAE in the summer would be just too much. I would do the Bahamas. Grand Bahamas is different than Nassau which is different from Marsh Harbour which is different from the Exumas. Also, I expect that it will develop quickly over the next two decades.
It is, indeed, not easy to get citizenship. But fortunately you can get residency with a home purchase. Right now our winter residency is between Bahamas, Turks & Caicos. Vietnam, Malaysia, philippines and maybe Dubai. They are all either tax free or only tax those who are resident for more than 180 days per year.
@@KJ-bc3de Right now I am still a U.S. tax resident. With the foreign earned tax credit we have about 220K USD that is free from tax. We are not there yet. But that is the intent, so, we are pointed at CBI and renunciation. At that time I will rely on Andrew's counsel on such matters.
Your comment about Monaco (2:42) is not accurate. It is not possible to get stuck in Monaco. There are no borders with France. In many instances, France is just across the street. The airport is in Nice. In order to get a Monaco residency permit (for example, when you buy real estate there), one also needs to get a Carte de Sejour for France. If you go to Google Maps you will be able to see what I mean. And in normal times, there are no border controls to go to Italy, for example (just 15 km from Monaco).
I like what you said about Americans enjoying getting all political. 😂 I am living in the Philippines and it has been a serious adjustment for me going from being all political to not so much. I came to realize that the only real change I can make is in the voting booth.. to vote. Everything else is pretty much a waste of time and energy. Better to spend my time enjoying my life. 💕
I live in Dubai and My choice would be definitely Dubai. I lived in 6 countries already and Dubai is the top choice for my self and for my investment. So I totally agree with your choice. And it’s going to get better and better, the government has many good thing in the pipeline... i’m here since 2010 so not a newcomer.
I lived in the UAE, i travelled to few European countries then i moved to Sweden for the citizenship, comparing living in the UAE over Europe is legitimate, what i saw in Europe was way under my expectations and i would confidently tell you: if you are planning and have the possibility to obtain a European citizenship then it's fine to move, otherwise it's a huge mistake to come to Europe leaving the UAE if you are just planning to stay on temporary residency based on a job or a bussiness. The life style that you find in UAE is really not compared to any other place in the world, of course it's expensive but it worth it, not forgetting the numerous opportunities that opens to you in a multinational country like UAE.
Andorra. Can be structured so tax liability is close to or 0%. Low cost of living, super clean, zero crime, hiking in the summer, skiing in winter (residents get a yearly lift pass for 160€). 2.5hrs from Barcelona Airport and the Med. Drive 20mins one way you’re having crepes and croissants for breakfast, drive the other way you’re having pan chocolate. Residency process is straightforward and done on arrival in Andorra.
Can you do an update on Hong Kong in light of recent political developments as a low tax destination? Used to be a great low tax jurisdiction about 4-5 years ago but now seems like it's going to lose its status as a financial center.
I used to live there. I do miss it on occasion. People are gracious. Sort of cheap depending on what you want out of it. You can not trust the Cambo government reporting any more than china. They have reported deaths but Hun Sen is sucking up to china. Cheap alcohol is cheap in cambo. Living well in Phnom Penh is definitely doable but not cheap. You can live like shit anywhere...
Prices and taxes had gone up pre-COVID in Dubai and AD. AD is the largest land owner and has all of the oil and gas. Dub. is still reliant on tourism, in spite of diversification. Dub. introduced higher charges on hotel rooms several years ago. The UAE as a whole introduced VAT (lower than Europe) several years ago. Rental contracts go up and down as the UAE gov't and Emirates govt's remove a rental cap. Accommodation quality is variable as developers have used cheap materials over the last decade (several fires in Dubai documented). Yes, if you have plenty of money, it's no big deal if you do your research. The UAE is not the frontier economy as 20 years ago where expats could earn staggering amounts as a salary, but nor is it tax free. Taxes are there but indirect. Yes, life can be stress free or as crazy as you want in UAE, or connect with the natives with camels and a picnic in the desert. It's up to you. Your white skin and money will gain you some respect and some freedoms. FYI, I lived in AD and Oman for 6.5 years (mostly AD and Al Ain) and visited Dub. from time-to-time until 2.5 years ago. Life got more expensive and salaries did not keep track with the locals.
I lived and worked in the UAE and agree with everything you said, but you can’t consider living there without mentioning the brutally hot summer months that make it practically impossible to spend any amount of time doing outdoor activities.
Monaco...and an extremely nice little boat. The Cayman Islands (like a good amount of Caribbean islands) are prone to Hurricanes. The Gulf States are great, for the most part. It's extremely modern. It's becoming a little bit more cosmopolitan each year with an international appeal. However, there's still a huge culture shock in store for most non-Muslims and most definitely for non-Arabs. I don't know if Singapore is still a tax haven. So, I can't say... Vanuatu??? ... Hhmmm 🤔 Maybe. Maybe Not. I don't know.
Service level in Dubai is often not great. I give you two examples. A friend of mine lived in a building on Sheikh Zayed Road and the building was without water for two days. Another friend wanted to get their guest toilet fixed. The workers couldn’t get it done and told him not to worry because it was only a guest toilet anyway. These are just two cases that show you what kind of people you will be dealing with in Dubai.
I lived in Canada (Montreal, Sherbrooke, Brossard and Stittsville Ontario) for 12 years now and I can tell you that this stuff happened more than I can count. And the service was meh. I was even scammed by white Canadians several times.
Thanks for the analysis! Just a quick off-topic question: My OKX wallet holds some USDT, and I have the seed phrase. (behave today finger ski upon boy assault summer exhaust beauty stereo over). How can I transfer them to Binance?
I thought non-natives were fleeing the UAE? Family member was fined TWICE for wearing shorts in the mall. So maybe UAE is ok for men, rather than women?
just learn to follow the rules? if dressing like a garden tool is part of your 'must haves', then UAE probably isnt the place for you. but westerners could use a bit of moderation in their lives
Love the channel and the content. Not so sure about the UAE. Love the Middle East however think they are about to hit the buffers again. Dubai, isn’t a financial centre like London, Singapore or New York, and course there is alway the human rights issues and general business ethics.
Bahrain. I lived there in 1990 & 1991. Was not nearly as modern, trendy, and convenient as it is today, but extremely hospitable. I love Bahrain and after you've spent some time there - you will too. HRH Shaikh Isa bin Sulman was in power back then (May he rest in Peace). A very civilized, gracious, and prosperous island country. Though an island, it has everything you need...including the best tailors in the region. Bahrain is also the Banking and financial capital of the Gulf. (GCC) I've been to Dubai. It too has changed extremely since those days. I like your thoughts on the dynamism, activity, and hustle-bustle. It would be 2nd to Bahrain. Jim
I would love to see a “pandemic passport portfolio” video where you cover the citizenships or residencies that turned out to be really good for low Covid infections and restrictions and lockdowns.Those might not have been in your usual favourites. Places like NZ, south korea or remote Pacific islands seemed to have been great escapes from the chaos
It's not the low cases but the normalcy of life I'd look for, a maskless society with free hugs😁. All over the world there has been the flu for years and the majority of population didn't care, nor choose a home based on those stats.
@@markcranston3145 Well said. Glad you have done your research. I'm not going to be afraid when 99% of people recover! It's the fake news that's the v I r u s.
I live in China and people around me are genuinely nice every day. Striking up conversations, sharing cigarettes. I live in Shenzhen, Guangzhou as well as many small cities and villages in South China. In the small towns the average folks on the street are a bit taken aback at seeing a white guy but most have long friendly conversations, in Mandarin and especially Cantonese. The most unfriendly people are middle aged women for some reason, always preoccupied with a million worries, kids, groceries, danger here, danger there, being cautious, they're the only ones who look at you like you're the enemy. Everyone old and young are nice. Especially Shenzhen, very intelligent beautiful urban people there.
@@ДарьяЗимина-б7з Pollution is everywhere, you just check the AQI index on your phone, it's heavy in Hebei near Beijing and light in the coastal provinces. Lighter pollution than Los Angeles or Toronto. Overpopulation, I don't see it. I see people, markets, coffee shops, book shops, bars, supermarkets on every corner. If you don't like seeing people, and prefer empty streets, then you might prefer to live in suburban USA/Canada. As for life, yeah it's better for both poor and rich people. The middle class maybe have more stress than in the USA. But there's more jobs than people at the lower end, so poor people have no reason to be homeless, they can always have a job, a place to live, and healthy food, vegetables and rice.
Monaco rates highly for lifestyle. Italy is on your doorstep (and inexpensive) and the entire French Riviera for lifestyle. Movement in and out of Monaco is easy, by car. Paris is a short TGV train ride away, and Provence is accessible via the autoroute. That said, I own a home on the French Riviera, a business in Monaco and a residency in Andorra which works for me.
I would use the territorial tax arrangements and live long-term in Malaysia - when MM2H restarts. Reasons... nice, friendly people generally, English is widely spoken, wonderful food, a good level of infrastructure (roads, internet, malls, etc.), international hub - KL, some nice beaches, good value for money, interesting architecture, Georgetown Penang UNESCO world heritage site, Borneo forests, and nature. Alcohol is heavily taxed but I'm not a heavy drinker...often! NB: They seem to like polite British people - which greatly adds to our decision.
If you are living off investment income I guess any country where you are not taxed on your worldwide income is the same as tax-free, in which case the tax treaty is the most important factor.
@@tinglestingles nice one. Portugal is a good alternative. Although I spent time in Lisbon in 2020 and couldn't warm to the place. The locals look glum and not so friendly, like most European cities.Perhaps other parts of Pt are better. Malaysia truly did feel like a second home, although that was in 2010.
UAE is not for me. Worked there for 4 months and passed thru at least 20 times. Those big shiny buildings were and are being built with slave labor. This is an Arab kings wet dream and much less so for the 3rd world nationals who make up 90% of the population....working 6-7 days a week, living with multiple roommates to make ends meet. Taxi drivers are fined 4 days pay for missing a day and so choose to work every day and have miserable lives with no time off. Dubai is probably the sex trafficking capitol of the world. Prostitution is rampant. Women are exploited on a grand scale. The great kings own wife and daughter tried to flee the country to get away from him. Whats there to do? If you have money you can shop until you drop, eat out, hire a prostitute and then do it again tomorrow. Summers are 120F plus everyday. Writing a bad check or going into debt will land you in prison with no rights. Western women who have been raped have been charged with sex crimes when reporting to police. Its a hypocritical culture thats part Koran and part Las Vegas. Not sure what the draw is Andrew though its interesting the first few times but #1...hell no.
I would be interested in your view on personal rights especially with today’s health climate. We want to not only live somewhere with the visa free travel we would like, tax benefits, a great culture for my family, but also where we won’t have our personal health freedom infringed upon
I live in Monaco and agree with your point that, removing the ability to go into France or Italy, makes it a very small place! The advantage of Monaco is not having border controls as per Gibraltar.
Thanks Andrew. Great video. I agree with you to some extent. I have lived in the UAE for 6 years and I mostly enjoyed it. It is just about the safest place on earth. Notably, governmental policies are great. I was awarded a 10 year golden visa based on my profession at a cost of $1k, so I feel really valued. All in all, great place to live in UAE, very cosmopolitian, extremely safe, the locals are very friendly. However, UAE is rather expensive. I would say it is even more expensive than the UK, where I come from. Also in summer months the heat and humidity are brutal, mostly from June to Sept; so vitually no outdoor activities unless they involve water. Real estate is not cheap either, I bought a modest one bedroom apt in a nice area of town at a cost of $170K. Plus lots of expenses, associayted with ownership. I think UAE is good as a base, but to spend significant time (esp summer months) in other countries: Turkey, Morocco, Lebanon, as well as the far east: Thailand, Malaysia etc. all of these are easily accessable from UAE.
@@luv2travel2000 depends where you live. Marina is expensive. Living with others is affordable and you can live comfortably in a new apartment with ensuites on every room.
To me Antigua is the best choice, I love the great outdoor, some skynny deeping in desert beaches some backyard archery, sailing wow, sound like a dream to me.
When it comes to retirement, I am surprised so little is discussed about health care: many of the tax free or reduced tax countries can become very expensive if they don’t have a reliable and affordable national health system available to you. Same could be said about nomads with family and schools/education. Single and young people on the other hand have little reason to live in high tax countries with generous social benefits like it is the case for most of Europe
David, the healthcare system in Colombia is excellent and the people are warm and welcoming. Pablo Escobar died in 1993 and Colombia has transformed. If healthcare is a concern, living in a city like Bogota' or Medellin gives you access to world class health care and almost anything else you might want or need.
Thanks for the breakdown! Could you help me with something unrelated: I have a SafePal wallet with USDT, and I have the seed phrase. (air carpet target dish off jeans toilet sweet piano spoil fruit essay). How can I transfer them to Binance?
@@prestontucker1687 100% between October & May the rest of the year Monaco is inundated with car people & onlookers it's a little much ... anywhere all the time is a little much anyways. I'd say sure @ least with a lot of spendable $$$ you can have excellent accommodations 🥂 & Nice is 15mn in helicopter to jet off.
As any other income if you are resident. That means living in Mexico for more than 182 days. Where do you get your income doesn’t matter, what determines is it is taxable in Mexico is residency...
We are in paradise in the middle of Mexico. We are going to be blessed financially even more in the future, so I am very intrigued by this site. We may never leave yet the options will be more open. Thanks for your work. (We are surrounded by really nice employees and friends now).
While I agree with the concept of living tax-free, or as tax-free as possible, after living in the Middle East for 8 years, I WOULD NOT settle in the UAE. It's TOO HOT! And because it's focused on the higher investor community, it is more expensive than necessary. Plus, they're not very dog friendly and if my dog can't go where I go, then I'm not moving there. Now, with that said, the UAE is a fantastic place to visit. There is a lot to see and a lot to do but once you've done them, it's just TOO HOT. If you're ok with temps over 130F, and you're ok with spending more for less, then go for it.
Gday, mate. What about living in Andorra, Gibraltar , Switzerland, Monaco or San Marino of Italy? Yes it lacks UAE/ metropolis bustles, but its really nice out there...)) I bet,- you ve been there, done that. Personally i prefer living near the big city, but in quiet area with good infrastructure, say in Johor Malaysia, say 1hr drive from Singapore. or near Budapest or near Adriatic coast. Its 1-2 hrs from everywhere, not like 24hrs flight or 15K km in Sydney AUS...)))
Leave the grumpy, psychologically damaged west and find nice people, sane people, attractive (inside and out) people. Enjoy the freedom of smiling at someone without them thinking you are crazy. Where you can say hello to a woman without her calling the cops.
Lebanon. Mediterranean climate, good skiing, good beaches, beach clubs, yacht club, great nightlife/shopping/spas, fantastic cuisine, personal service (maids, drivers) great. The educated people are some of the most sophisticated on Earth.
@@successandlifestyle English works fine. Educated people speak English & French. The primary language of the country is Arabic (Lebanese dialect Arabic)
@@Timithos Lebanon really isn't even a country in any sense of the word. The people are highly divided and mostly crazy. The government goes from nonexistent to terrible, but it is completely incompetent to enforce its will on anything. Hezbollah runs half the country and has a parallel government, but does not seem inclined to impose Shariah or crush the party scene. In spite of this the lifestyle is actually pretty good. What is written in the paper is not what you experience in everyday life. Faraya has good skiing (the village sucks, the European village scene is much better). The private beaches are some of the best in the world. The nightlife is fantastic as is the shopping. I've never had a banking issue there, the banks have actually treated me better than banks in Argentina or the US. Its not for everyone, but if you have connections to the country its a good no-low tax lifestyle.
@@frederickmuhlbauer9477 Lebanon officially uses the US dollar, and everyone takes Euros as well. Its not for everyone but the lifestyle is nicer than people generally think.
Guys and gals, it boils down to what you are looking for (surprise!). There is no "one size fits all". Start from all the tax-free countries and decide based on your what is important *for you*. Personally, I have lived and worked in Dubai for a number of years and it suited me just fine. 4 months a year, the weather is cool, another 4/5 months its bearable but in thick of Summer - 2/3 months, better go somewhere else. Still, I'd go back in a heart-beat, but that is just me. YMMV.
I love the point about being surrounded by nice people and having nice interactions! For that (forget the tax) it’s hard to beat places like Japan, Thailand (outside the tourist haunts) or off the beaten track places like believe it or not Afghanistan. Get the hell out of places like Paris, the US or China where for whatever reasons there can be hostility from authorities or those in service industries
We have been very happy bringing up our 2 boys in Bahrain for the last 20 years. I have been able to support the family on one teacher's salary and we have a very good standard of living. Daily interactions with those around us are always friendly and pleasant. We love your channel by the way!
UAE all life long !!! 3 years since i decided to move here and still super happy of my decision . This is the most cosmopolitan place on earth and much more tolerant than what Western people think ( or what they are said by media) , for sure more tolerant than most of Western countries .
UAE for sure, with maybe a tropical island as a holiday destination etc. UAE is so central with a great time zone and very easy access to world markets.
I totally agree. I went to most of the Caribbean and loved it for a week but then got bored. I lived in Bahrain for many years and loved it but my business was literally stolen and after a long exhausting court case I got nothing.
UAE investing heavily in green energy. Also as of last Nov made changes to Islamic personal laws incl unmarried couples can now cohabitate, loosened alcohol restrictions and criminalized “honor killings.” This may help some.
Question: so how does moving and living in the UAE allow you to take advantage of tax benefits if you’re American? How does that work so you can avoid capital gains in the UAE?
Hi Andrew , can you make a video on belgrade real estate and banking system for foreigners on opening bank account and applicability if they allow to transfer , receive money in account through online banking
I rarely write comments, but you genuinely are really good at what you do. Appreciate the free content here, lots of these are my ideal life.
Thank you.
Only visited Dubai for a quick 24 hour visit, and while I am comfortable in the Cayman Islands, I'd rather live in Mexico or Serbia etc and pay whatever taxes they want, than live in the UAE or on any tiny island. Good points about enjoying life, being surrounded by genuinely friendly/happy people makes all the difference.
Youre not enjoying the caymans? What are you finding you dont like? I heard it was one of the more liveable, and expensive Carribean Islands
indoor skiing mountain. bro i'd just live in dubai.
Hey are you still in the Cayman Islands? We’re considering moving there from the Bahamas because it’s much more modern and has little to no crime
Dubai way too hot. Some things are worth paying money for (e. g. climate).
"I just want to enjoy my life" ... Great line.
@@twnb7733 How old was Noah when he passed over?
@@twnb7733 but less than 1000...
@@LAHEX-yt6ux Dr Masuru Emoto has done fascinating research in sound...
Great view, great human. 🌞
I wanted to like this comment but it's exactly at "100" likes so I just let it be.
Panama is really good. We pay no taxes on our property forever because it is registered as being under $125K. There are no taxes on any money made outside the country. Also we pay no Canadian capital gains taxes because we are non residents. We can buy stuff on Amazon tax and duty free if it's under $100. The only tax we pay is a 7% sales tax. One thing no one seems to mention is WHERE you live WITHIN a country is just as important as WHICH country you choose to live in.
Hi, I’m also Canadian and the taxes on me are driving me crazy. I have loved in Mexico is Panama more modern then Mexico in your opinion?
Hey im considering doing my residency in Panama. Is there Amazon there?
Canadians as well, so tired of living paycheck to paycheck. Actively looking for options.
@@YonderPreneur Not at all Panama way under developed compared to Mexico
@@gbessone they also have mercadolibre... it's a latin amazon
I love what you say about not wanting to be part of the 4 year cyclical voting cycle, team red vs team blue. Its sooo draining and I'm not about it at all.
Liked and subscribed at “I just want to enjoy my life”. Same here. Same here!
I’ve lived in the UAE for close to 10 years and the lifestyle is hard to beat. Dubai in particular has most of the benefits of any other city (it’s multicultural, you have access to most of the shops and brands you have in the US or UK, as an expat you can have a very active social life or choose to live quietly). There are downsides of course, once the novelty of tall shiny buildings wears off you miss nature and a certain ‘quirkiness’ that you can find in other countries. That being said if you can live here and spend 3 or 4 months overseas to avoid the harsh summer heat, you can soak up all the nature and culture you miss during that time and return back to a very safe and very comfortable lifestyle. Also, it’s a great travel hub where you can take a long weekend trip to parts of the word like Africa, Seychelles or Maldives for a reasonably low price and quick flight.
True
I think Neom is going to be the place to live in 5 years
#endslaveryDubai
Personally, I could never understand the attraction to UAE. Hot, desert, new tall buildings and shopping malls. Yes, there is a lot one can do there, but the whole thing seems artificial. Paying no taxes is nice though.
@@henrik4438 Who says US or Christianshavn, Copenhagen are atractive? Desert is fascinating for 2 days for me personally. Again, this is my opinion. I would say, if Tuscany or Provence had the same tax laws no one in the right mind would live in the UAE. It is ugly, in my opinion.
@@henrik4438 and healthcare is affordable with right kind of insurance! Ton of places with low rise and villas. There's something for everyone here in UAE!
Sounds like Phoenix 😂
Totally agree with you, Dubai sucks
No taxes means they will only grow
I have been living and working in Nassau Bahamas for the past 6 years. The lack of income taxes notwithstanding, the cost of living here is very high. Food costs 2 to 4 times as much as the USA, as do most other things. Petrol is $4/gallon.The infrastructure is very poor. The roads are like the surface of the moon and there's flooding every time there's heavy rain. The crime rate is also high. As for taxes, there's a 12% VAT on most items. If you have items shipped from abroad, the tax duties can be as much as 50%. As the availability of many items in the Bahamas is lacking, you will have to frequently order items from abroad. Before the Bahamas, I lived in Abu Dhabi for 5 years. The UAE has the best infrastructure in the world. In 5 years, I never encountered a pothole. Crime in the UAE is almost non-existent. Of course, you never have to worry about rain, but there are sand storms and heavy fogs in the winter. As for shopping, anybody who says that money can't buy happiness hasn't been to the Dubai Mall. The UAE can easily satisfy the most rabid shopaholic. Keep in mind that the temperatures in the UAE can reach 50C (120F) in the summer. This could easily kill an old or unhealthy person. As I still own property on Rheem Island worth more than 1M AED, I could easily obtain an Emirati visa. However, I don't think the UAE is a good place to retire. I've decided to live in Armenia in the summers and Vietnam in the winters.
Very unique combination. I completely understand though - great plan in two lovely countries. Well done.
Thanks for pointing out the very high indirect taxation in the Bahamas. I also note the ridiculous markups by importers on retail products there.
Georgia in summers is a good option too!
Armenia is nice in summer and cheap
Did you guys notice the Winter problem? I tried to solve it with a place to live where the Winters are mild and the cost of living is low: Sandanski, Bulgaria. But of course I am also a rabid shopaholic. So: I think about Thiruvananthapuram, India. (because I need a car, too;-PPPeace Nic, The Swiss Xxx Digital Nomad
Easily Monaco, it's small, quaint, well kept and walkable. The weather not too hot, not too cold.
@Mehedi Hasan Nice, France is close
If I were wealthy enough to buy a place there, then that would be my choice. Real estate prices are insane.
There's so much to do in Monaco...
The Grand Prix
The Yacht Show
The Best Restaurants
The Luxury Brands for Shopping
The Weather
Of course it's expensive! You're surrounded by billionaires. So all real estate is Prime Real Estate. Even a tiny studio apartment will cost you a whole lot of money. What else do you expect? You've Got To Pay To Play, Baby
Very surprised that Panama was not mentioned. I worked and lived for almost 3 years in the Gulf States, now living in Panama. Dollarized currency, climate in the highlands,proximity to US, availability of food choices (New Zealand butter, Australian wine, French Cheese, etc) Amazon deliveries very easy...
Tnx Berbo,,i live in Panama for 17 years ,,,and very happy,,im Dutch (Captain) and work all over the world,,middle East for more than 10 years,,,and now heavily into crypto trading ,,,for my pension
Haha. How do you get Amazon to work well for you? I have such a hard time getting anything sent. The whole no zip code thing really seems to mess everyone up.
Panama has tax
@@MCWhiffles only on money generated from within Panama. Which for most expats living here is $0.
@@chazsroczynski5666 That still does not make Panama by definition a tax-free country which is why he did not include it in his list.
I’m into Belize! English language, Belize Peso. One time property tax, No Inheritance tax, no capital gains tax. It’s easily accessible to Florida. It’s a developing economy. But also $130k Canadian gets you a decent home in Dubai.
I live in Abu Dhabi and personally feel both Dubai and Abu Dhabi are amazing cities to live in. English is an official language, about 88% of the population are expats from all over the world, and the people are very friendly. Abu Dhabi is identified in numerous studies as the safest city in the world, with Dubai not far behind. With the global diversity in cultures, you have the opportunity to get to know people from all over, including countries sometimes considered verboten, such as Iran, Iraq, Pakistan, Syria, Beirut, etc. In doing so, you discover that people the world over have common core values. At their heart, all people want is just to live their lives in peace, and to make a better life for themselves and their families. Somehow, in the UAE, it just works.
It sounds all well and good but how do you handle the heat though?
Would you choose Istanbul or Dubai?
And Abu Dhabi is more laid back compared to Dubai. Both are amazing places to live indeed!
I hear such mixed opinions about the niceness of people in Dubai
Isn’t drinking alcohol banned there unless you’re in a hotel or something?
I'm moving to the UAE in a few weeks. I discovered the UAE back in 2003. I know this sounds strange but I felt a greater sense of freedom in the UAE than the US.
Yup funny how people are just starting to understand this now
freedom.. maybe for white people that already have an economic advantage over everyone and they like to cut corners and not work hard like hispanics, asians, etc
Isn’t it illegal to swear or kiss in public in the UAE? Not exactly the epitome of freedom
How is it?
Not sure that the UAE is a place where you want to plant a flag, if you are in Transit, sure, you can spend some time there, but to live there, you have to be willing to look the other way for a lot of things. First, the incredibly racist 2 way system, the fact that for employment, companies have 2 HR departments, one for Tier 1 Passports and the other for nationalities that are being taking advantage of (Indian, Nepalese, Bengali,etc) The whole country has been built on slave labor. Further, you could be an Arab speaker, lived in the UAE for 20 years, you will always remain a stranger, despite talks of the opposite, citizenship is never granted to people besides full Emiratis. These are few examples of how the system works over there.
He made it clear that the video is not about all those things. The video is about "tax free" countries.
Did you know that literally every country is built on slave labor?
It isn’t slave labor is you do it voluntarily and are paid.
@@paulpierce7387 Voluntarily and paid?! They bring those foreign workers, confiscate their passports (preventing them from leaving) and withhold their pay, forcing them to repay a debt that is fictitious with the goal of taking exploiting them. You need to get informed Paul, you sound like a slavery apologist.
My retirement income is tied to the US, so I pay a ton of taxes there. Having said that I’ve retired to the Philippines as a widower. All my money is tied to US banks, and any consulting income (I still do a spot of work now and then) also goes into US banks. I pay zero Philippines income taxes on any of my US income. I moved to the Philippines, because I like the cost of living, the fact everyone speaks English, most people are Catholic (Christian values), everyone I have met is friendly, and so far my girl friend has treated me better than US women I’ve met. The only part about this “retirement” is the amount of paperwork involved in just the day to day US grind. My late wife used to do it while I was globe trotting around the world, but now I feel like I’ve inherited an unwanted job. The Philippines may be a cash society, but I get by with a minimal amount of paperwork...enough ranting. I need to be fishing.
Wow, that's great! Thanks for sharing your experience. Can you recommend some good areas in the Philippines?
That’s a brilliant country for retirement
@@792x33 Palawan, Cebu, siargoa, siquior. Angelas.
But covid lockdowns are very strict, no?
Sounds like the dream
Vanuatu works for me. 80 islands, sailing, scuba diving, snorkeling, surfing and kite-boarding. The financial services sector is no Switzerland or Singapore, but the tax regime is looking pretty good compared to Canada. Wonderful people, living simple lives. Plus, like a bunch of Pacific island nations, they shut their borders for Co-Vid, but life continued on the ground without ridiculous lockdowns and confinement. Surf's up !
Where is this?
I am in Vanuatu as well. So true. But very expensive here as well.
Yes this covid thing is making look for good places to get away. I'm basically cut off from society anyways. Never leave my house anymore.
@@christianpeacecraft552 pacific ocean
I dont think he said you have to be stuck in Vanuatu to get the tax benefit, he said you dont need to. But the hypotethical question was if for whatever reason you had to be where would he go
Definitely agree with your sentiment about being somewhere where the people are nice. It makes such a big difference!
We've been living in Nicaragua for the last year and the people around us have made us feel so welcome.
Also loved how you called out Bangladesh for having super friendly people - that's been our experience as well!
I moved to the UAE 3 years ago.
I your arguments are literally word for word mine when explaining my reasons to others. Major Kudos
What a wonderful, easy-going style of talking about some pretty tough issues. Love NC's fluency in juggling so many seemingly dissimilar jurisdictions worldwide. He brings a certain "dynamism" (to use his word) to international financial affairs rarely seen in the mass media. Listening to him is like watching a movie as he compares countries, islands, and their socio-cultural strengths and weaknesses in a way that resonates with viewers/listeners.
Well, Mr. Henderson. I got tired of asking "what if." I just set an appointment to get my passport. I'm not your 7/8 figure client, but I'm not just going to sit around and wait. Keep up the work.
Same here. Just a hard working chump socking away every penny in hopes to slowly build a life of freedom.
How much does it cost if you’re not making 7/8 figures?
@@aquilomanganelli175 Nope, we are on a prison planet. Jesus is coming soon.
UAE, Dubai, especially with the world islands being built up over the next decade.
I should add I left San Diego CA in December and now live in UAE. It has elements of the convenience of the US, has cafe culture like Europe, some great South African restaurants, bars and cafes. Asian influences in some of the hotels and resorts. Geographically positioned very well.
I'm actually doing as you say and bringing my parents out here and my sister already lives here. Dubai is definitely the most liveable city in the gulf, plus you can go scuba in Fujairah, mountains in Rak, ski in the mall and great beaches.
@@rubiks15 90% expats, tons of Brits & Aussies. Haven't even considered language as a barrier since we got here. My sister says after 6 years of being here she's never had a language issue.
Oh yeah. You get all there. Close to other countries too. Am thinking of moving there myself. Been flying there every 2/3 months before Covid. Am so addicted to that place. Hahah
@@andrewhewerdine Thank you for sharing this. ♥️
The world islands, is that a joke? They’ve been trying to build that since 2008, and have no plans to actually make it a reality. It’s a failure of a capital project, and people should be looking elsewhere.
San Diego ...love that place. UAE has some cool cities and for safety, cleanliness and Peaceful living it’s great. Just got to watch out for the Dubai douches - lol
Why wasn’t Panama on this list? More fun than the middle east, no cultural hang ups with relationships or alcohol, cheaper, mountains and beaches to explore, not too remote...
Sounds nice. What's the covid reaction been like? Lockdowns, mandates, etc?
@@JoeyJ1984 terrible. Ok they did well keeping the numbers under control but there’s gender restrictions on shopping, men and women can go shopping on alternative days, stuff like that. Pretty rotten to segregate the sexes like that
Panama is not a tax-free country.
@@blueballbag3588 What the hell? That's insane! Kind of explains your username though :P
Panama is my choice....Almost hands down.
What about Oman? It's tax free and also quite a liberal country in the region. You mentioned that you prefer the UAE to Bahrain and Qatar because they are too small, but what about Oman. Oman is the 2nd largest Arabian Gulf state after Saudi Arabia. The capital Muscat has come on leaps and bounds over the last 10 to 20 years. It's got less of the international flavour as a City like Dubai for example, but it is still a very comfortable modern city to live in. There are also many more places to visit and see in Oman. While the UAE seems to be the go to place for most people, I personally think that Oman is a little bit overlooked.
Great content. I completely agree with the intangibles like "are the people around me genuinely kind.". Another one for you: "do the locals only see me as a walking dollar sign?"
Monaco is really a great place to have as a Autumn/Winter base for someone like me that actually likes having cold for Winter months. And 90% of the people that make Monaco obnoxious move out in October only to return in May. Restaurants get more civil, the roads are less congestionated so you can actually go fast into the hills, every single patisserie has room and is quiet and the French cities around Monaco are all deserted. Its my kind of place. Although this year I had to spend most of my winter months in the UAE, KSA and Kuwait because of friends inviting me over in I really love Monaco.
EDIT: With airplane being the travel method of choice from Monaco you can get to Switzerland in half an hour, to Paris in one hour and to London in an hour-and-a-half. That's very hard to beat and the biggest problem for me when thinking of the UAE. When you finish all the partying and Cars & Coffee events in Dubai if you take the plane anywhere it takes a long time.
I can go to London, get my measurements taken for some suits, have lunch at The Berkeley, go for some new bespoke shoes and shirts, have tea with some friends and be back in Monaco for dinner. That's very hard to beat.
Who are you? And why do you watch TH-cam?
5 hrs is far? To me 10 hrs on a plane is far. 3-5 hrs is manageable. 1 hr is super convenient.
can I discuss the monoaco ta resicendcy situation with you further? I'd like to know how I could pursue this from someone who seems like they've done it
👍👍👍
@@37tara u have expreience with monaco?
Great video and 100% correct in my opinion. I live in Dubai since 2009 and indeed is a great place. Easy, friendly people, great lifestyle, eight months of great weather, safe for the kids and ability to save a lot of money (you can spend a lot too though). No intentions to go back to Spain anytime soon.
how can you compare Spain rich history, culture, arts, architects, European life style and intelligence and freedom of expression as human and faith. with only saving money is not the real happiness and you or your kids never will be that country citizen....that's a slap on the face and disgrace to humanity....think about it
@@skyone6531 wow - people who have lot of cash - can easy say -“ money is nothing “ try to live without money “ if you ever try , you will never say it again -money is nothing ….
Am happy for you.. But spain dude spaaaaaain HAS SUCH BEAUTIFUL WEATHER comparing to the heat of UAE.. The richeness of Spain is also amzing
With Monaco you should be able to just seamlessly drive into France. Maybe now is different because of COVID, but in normal times it should be seamless
Even with covid, Monaco is completly open to France right now.
how long is the drive?
@@goldstein10493 it borders France so if you are in France just outside Monaco, 1 second. But if you want the closest city in France, that is Nice, 26 mins away
in Monaco you have to put a sizeable deposit in their bank and rent from the Prince.
@@louielouie684 all of this tax avoidance stuff is only worth it if you have sizable amounts of money anyway
Years ago, I would have said that someone who wanted to renounce US citizenship/live outside CONUS full time was a nut. Nowadays with the current political and socio-economic climate here in the US, I can understand why people- especially those of means, would do it. Leaving the US/ renouncing my US citizenship is not a realistic option for me, but if it is for you, rock on. If everyone lived with the attitude of "you do you, I'll do me" and not try to control others' lives, the world would be a much better place.
The UAE just introduced taxes on corporate profit on 9%. no longer 0%.
Better than my 19% going on 24% to be spent on ....? Well taken
1) Monaco
2) Brunai
3) Bahamas
4) Bermuda
5) Cayman Islands
6) UAE
7) Bahrain
I agree with your stance on not worrying about politics. I spent 5 years living in Abu Dhabi and actually found it strangely relaxing not caring about local politics. I had no ability to affect local politics, if things got too bad I would just leave. I never read local news or watched local TV. It is quite liberating not to care about anything.
However I found the concrete jungle, weather and dry climate very depressing in the long run, it was not just for me. I am more a tropical beach person, I am happy in boardshorts and sandals so I would prefer the Caribbean island life where you are still close enough to travel to big cities if the need arises.
Amaaaaaazing.. I love how genuine you are 😀
Thank you.
There's no perfect country. My husband and I (UK) have lived in 8 countries and travelled to several others. We've been in the Middle East for a number of years and decided to retire in Bahrain, Amwaj Island, from where we can hop to Dubai for entertainment whenever we wish. Sure, there are a few things we have to overlook here, but overall this has been a good option for us.
Could I live in Bahrain on a UK state pension?
The Trifecta. Dubai, Bahamas and Portugal. With some short visits to Florida.
I like hot weather but UAE in the summer would be just too much. I would do the Bahamas. Grand Bahamas is different than Nassau which is different from Marsh Harbour which is different from the Exumas. Also, I expect that it will develop quickly over the next two decades.
It is, indeed, not easy to get citizenship. But fortunately you can get residency with a home purchase. Right now our winter residency is between Bahamas, Turks & Caicos. Vietnam, Malaysia, philippines and maybe Dubai. They are all either tax free or only tax those who are resident for more than 180 days per year.
@@michaelferguson4549 You don't happen to have a daughter looking for a husband?
@@michaelferguson4549 Where are you a resident for tax purposes though?
@@KJ-bc3de Right now I am still a U.S. tax resident. With the foreign earned tax credit we have about 220K USD that is free from tax. We are not there yet. But that is the intent, so, we are pointed at CBI and renunciation. At that time I will rely on Andrew's counsel on such matters.
As a resident ofDubai, Uae for past 21 yrs....indian passport holder...agree 100%
I just can't do the Middle East. I value my head. Low tax may be better than no tax in a lot of instances.
That means you're probably doing drugs
You are right. Almost 50 percent of people in middle east walk around with no heads, because they have been chopped off for one reason or another.
You've not been to UAE or Bahrain. Even KSA isn't too bad.....except for the truly crappy driving.
Your comment about Monaco (2:42) is not accurate. It is not possible to get stuck in Monaco. There are no borders with France. In many instances, France is just across the street. The airport is in Nice. In order to get a Monaco residency permit (for example, when you buy real estate there), one also needs to get a Carte de Sejour for France. If you go to Google Maps you will be able to see what I mean. And in normal times, there are no border controls to go to Italy, for example (just 15 km from Monaco).
Yeah , but buying real estate in Monaco is ridiculous.
I high and thoroughly enjoy your delivery of the subject matter and your personality lends much credence to your videos.
Off topic Andrew, i want to see your watch collection and where’s the best place for nomads to make those kind of valuable purchases!
Nigeria
China.
What watch is he wearing in the video
Chrono24 is the best imo
@@nkoonkukoo China or hk.
Well done Andrew. So clear & strong common sense. Love his videos
Thank you, Gabriel.
I like what you said about Americans enjoying getting all political. 😂 I am living in the Philippines and it has been a serious adjustment for me going from being all political to not so much. I came to realize that the only real change I can make is in the voting booth.. to vote. Everything else is pretty much a waste of time and energy. Better to spend my time enjoying my life. 💕
I live in Dubai and My choice would be definitely Dubai. I lived in 6 countries already and Dubai is the top choice for my self and for my investment. So I totally agree with your choice. And it’s going to get better and better, the government has many good thing in the pipeline... i’m here since 2010 so not a newcomer.
good to hear
*Great Video. 👏*
*ANSWER: **12:03*
I lived in the UAE, i travelled to few European countries then i moved to Sweden for the citizenship, comparing living in the UAE over Europe is legitimate, what i saw in Europe was way under my expectations and i would confidently tell you: if you are planning and have the possibility to obtain a European citizenship then it's fine to move, otherwise it's a huge mistake to come to Europe leaving the UAE if you are just planning to stay on temporary residency based on a job or a bussiness.
The life style that you find in UAE is really not compared to any other place in the world, of course it's expensive but it worth it, not forgetting the numerous opportunities that opens to you in a multinational country like UAE.
Andorra. Can be structured so tax liability is close to or 0%. Low cost of living, super clean, zero crime, hiking in the summer, skiing in winter (residents get a yearly lift pass for 160€). 2.5hrs from Barcelona Airport and the Med. Drive 20mins one way you’re having crepes and croissants for breakfast, drive the other way you’re having pan chocolate. Residency process is straightforward and done on arrival in Andorra.
Can you do an update on Hong Kong in light of recent political developments as a low tax destination? Used to be a great low tax jurisdiction about 4-5 years ago but now seems like it's going to lose its status as a financial center.
HK is still an incredible city and is low key thriving
Cambodia. Very friendly ppl, cheap and relatively good life style, And ZERO Covid related death! Lots of foreigners like it there.
I used to live there. I do miss it on occasion. People are gracious. Sort of cheap depending on what you want out of it. You can not trust the Cambo government reporting any more than china. They have reported deaths but Hun Sen is sucking up to china. Cheap alcohol is cheap in cambo. Living well in Phnom Penh is definitely doable but not cheap. You can live like shit anywhere...
Prices and taxes had gone up pre-COVID in Dubai and AD. AD is the largest land owner and has all of the oil and gas. Dub. is still reliant on tourism, in spite of diversification. Dub. introduced higher charges on hotel rooms several years ago. The UAE as a whole introduced VAT (lower than Europe) several years ago. Rental contracts go up and down as the UAE gov't and Emirates govt's remove a rental cap. Accommodation quality is variable as developers have used cheap materials over the last decade (several fires in Dubai documented). Yes, if you have plenty of money, it's no big deal if you do your research.
The UAE is not the frontier economy as 20 years ago where expats could earn staggering amounts as a salary, but nor is it tax free. Taxes are there but indirect.
Yes, life can be stress free or as crazy as you want in UAE, or connect with the natives with camels and a picnic in the desert. It's up to you. Your white skin and money will gain you some respect and some freedoms.
FYI, I lived in AD and Oman for 6.5 years (mostly AD and Al Ain) and visited Dub. from time-to-time until 2.5 years ago. Life got more expensive and salaries did not keep track with the locals.
Which country/countries would you pick instead?
"It's easy to think everyone's going to be the same way they are in your country", God I hope not.
I lived and worked in the UAE and agree with everything you said, but you can’t consider living there without mentioning the brutally hot summer months that make it practically impossible to spend any amount of time doing outdoor activities.
Monaco...and an extremely nice little boat.
The Cayman Islands (like a good amount of Caribbean islands) are prone to Hurricanes.
The Gulf States are great, for the most part. It's extremely modern. It's becoming a little bit more cosmopolitan each year with an international appeal. However, there's still a huge culture shock in store for most non-Muslims and most definitely for non-Arabs.
I don't know if Singapore is still a tax haven. So, I can't say...
Vanuatu??? ... Hhmmm 🤔 Maybe. Maybe Not. I don't know.
Service level in Dubai is often not great. I give you two examples. A friend of mine lived in a building on Sheikh Zayed Road and the building was without water for two days. Another friend wanted to get their guest toilet fixed. The workers couldn’t get it done and told him not to worry because it was only a guest toilet anyway. These are just two cases that show you what kind of people you will be dealing with in Dubai.
I lived in Canada (Montreal, Sherbrooke, Brossard and Stittsville Ontario) for 12 years now and I can tell you that this stuff happened more than I can count. And the service was meh. I was even scammed by white Canadians several times.
@@exclusivenote what does that have to do with Dubai?
Thanks for the analysis! Just a quick off-topic question: My OKX wallet holds some USDT, and I have the seed phrase. (behave today finger ski upon boy assault summer exhaust beauty stereo over). How can I transfer them to Binance?
I thought non-natives were fleeing the UAE?
Family member was fined TWICE for wearing shorts in the mall. So maybe UAE is ok for men, rather than women?
I agree. UAE is not a good fit for women.
just learn to follow the rules? if dressing like a garden tool is part of your 'must haves', then UAE probably isnt the place for you. but westerners could use a bit of moderation in their lives
@@catiex8826 moron
@@zoomzoom3950 they will collapse in 2030
@@zoomzoom3950 not a feminist issue - simply the lack of repression and safety. A semblance of the freedom and mobility afforded to men.
I like Antigua,Belize,The Bahamas , Nevis & St Kitt.l love Switzerland. But l would really like to buy my own lsland again in the future.
Love the channel and the content. Not so sure about the UAE. Love the Middle East however think they are about to hit the buffers again. Dubai, isn’t a financial centre like London, Singapore or New York, and course there is alway the human rights issues and general business ethics.
Bahrain. I lived there in 1990 & 1991. Was not nearly as modern, trendy, and convenient as it is today, but extremely hospitable. I love Bahrain and after you've spent some time there - you will too. HRH Shaikh Isa bin Sulman was in power back then (May he rest in Peace). A very civilized, gracious, and prosperous island country. Though an island, it has everything you need...including the best tailors in the region. Bahrain is also the Banking and financial capital of the Gulf. (GCC)
I've been to Dubai. It too has changed extremely since those days. I like your thoughts on the dynamism, activity, and hustle-bustle. It would be 2nd to Bahrain. Jim
I would love to see a “pandemic passport portfolio” video where you cover the citizenships or residencies that turned out to be really good for low Covid infections and restrictions and lockdowns.Those might not have been in your usual favourites. Places like NZ, south korea or remote Pacific islands seemed to have been great escapes from the chaos
It's not the low cases but the normalcy of life I'd look for, a maskless society with free hugs😁. All over the world there has been the flu for years and the majority of population didn't care, nor choose a home based on those stats.
@@successandlifestyle Call me when you find that magical place!
@@markcranston3145 Well said. Glad you have done your research. I'm not going to be afraid when 99% of people recover! It's the fake news that's the v I r u s.
@@successandlifestyle Agree.
@@successandlifestyle Did you watched the V R E A L E D that is on right now?
Hey Andrew what about Liechtenstein, they have 0 capital gains tax and property tax, not sure on income tax, but have you done any research on that?
Hard country to get residency, even people that work there don't necessarily have a residency visa there.
FL income tax is 1,2% I think...
Liechtenstein is the best choice for me !!!
I live in China and people around me are genuinely nice every day. Striking up conversations, sharing cigarettes. I live in Shenzhen, Guangzhou as well as many small cities and villages in South China. In the small towns the average folks on the street are a bit taken aback at seeing a white guy but most have long friendly conversations, in Mandarin and especially Cantonese. The most unfriendly people are middle aged women for some reason, always preoccupied with a million worries, kids, groceries, danger here, danger there, being cautious, they're the only ones who look at you like you're the enemy. Everyone old and young are nice. Especially Shenzhen, very intelligent beautiful urban people there.
I went to Hong Kong for week it was very nice and people were very friendly.
Is it possible, that life in a large Chinese city with pollution, overpopulation and so on is better, than in the USA???
@@ДарьяЗимина-б7з Pollution is everywhere, you just check the AQI index on your phone, it's heavy in Hebei near Beijing and light in the coastal provinces. Lighter pollution than Los Angeles or Toronto. Overpopulation, I don't see it. I see people, markets, coffee shops, book shops, bars, supermarkets on every corner. If you don't like seeing people, and prefer empty streets, then you might prefer to live in suburban USA/Canada. As for life, yeah it's better for both poor and rich people. The middle class maybe have more stress than in the USA. But there's more jobs than people at the lower end, so poor people have no reason to be homeless, they can always have a job, a place to live, and healthy food, vegetables and rice.
Try using google and having an opinion.
Monaco rates highly for lifestyle. Italy is on your doorstep (and inexpensive) and the entire French Riviera for lifestyle. Movement in and out of Monaco is easy, by car. Paris is a short TGV train ride away, and Provence is accessible via the autoroute.
That said, I own a home on the French Riviera, a business in Monaco and a residency in Andorra which works for me.
Hard to get in to? Long wait time?
Im not paying 41 bucks for a hamburger though....
Monaco is great.
All you need is an extremely nice little boat. And you can enjoy The French Riviera as much as you want.
is it not worth getting a tax residency in monaco if you're not a billionaire? or hundred milliloonare?
so is your tax residencey in andorra rather than monaco? just wondering since copr tax in monaco is 33%.
Probably UAE, Monaco or somewhere in the Caribbean. Quite a hard decision to make🤣
Yes I would like to live between Dubai and Monaco. Vacation in France, Italy and Spain sometimes...
I would use the territorial tax arrangements and live long-term in Malaysia - when MM2H restarts. Reasons... nice, friendly people generally, English is widely spoken, wonderful food, a good level of infrastructure (roads, internet, malls, etc.), international hub - KL, some nice beaches, good value for money, interesting architecture, Georgetown Penang UNESCO world heritage site, Borneo forests, and nature. Alcohol is heavily taxed but I'm not a heavy drinker...often! NB: They seem to like polite British people - which greatly adds to our decision.
If you are living off investment income I guess any country where you are not taxed on your worldwide income is the same as tax-free, in which case the tax treaty is the most important factor.
I spent a year in KL and loved it. However, the mmm2h visa is outrageously expensive now.
@@timmyhiggins5220 agreed. We’ve changed direction and settling in Portugal.
@@tinglestingles nice one. Portugal is a good alternative. Although I spent time in Lisbon in 2020 and couldn't warm to the place. The locals look glum and not so friendly, like most European cities.Perhaps other parts of Pt are better. Malaysia truly did feel like a second home, although that was in 2010.
UAE is not for me. Worked there for 4 months and passed thru at least 20 times. Those big shiny buildings were and are being built with slave labor. This is an Arab kings wet dream and much less so for the 3rd world nationals who make up 90% of the population....working 6-7 days a week, living with multiple roommates to make ends meet. Taxi drivers are fined 4 days pay for missing a day and so choose to work every day and have miserable lives with no time off. Dubai is probably the sex trafficking capitol of the world. Prostitution is rampant. Women are exploited on a grand scale. The great kings own wife and daughter tried to flee the country to get away from him. Whats there to do? If you have money you can shop until you drop, eat out, hire a prostitute and then do it again tomorrow. Summers are 120F plus everyday. Writing a bad check or going into debt will land you in prison with no rights. Western women who have been raped have been charged with sex crimes when reporting to police. Its a hypocritical culture thats part Koran and part Las Vegas. Not sure what the draw is Andrew though its interesting the first few times but #1...hell no.
I would be interested in your view on personal rights especially with today’s health climate. We want to not only live somewhere with the visa free travel we would like, tax benefits, a great culture for my family, but also where we won’t have our personal health freedom infringed upon
sorry in advance for my ignorance, but what exactly is "personal health freedom" ?
@@pvmoore1154 Where the Medical Mafia cannot force vaccines or certain treatments on you or your children.
@@Cryptogally Thank you kindly.
True fweeeedoom dosent exist. Unless your dead lol
@@jazzwinsky even then... you never know lol
I live in Monaco and agree with your point that, removing the ability to go into France or Italy, makes it a very small place! The advantage of Monaco is not having border controls as per Gibraltar.
Thanks Andrew. Great video. I agree with you to some extent. I have lived in the UAE for 6 years and I mostly enjoyed it. It is just about the safest place on earth. Notably, governmental policies are great. I was awarded a 10 year golden visa based on my profession at a cost of $1k, so I feel really valued. All in all, great place to live in UAE, very cosmopolitian, extremely safe, the locals are very friendly.
However, UAE is rather expensive. I would say it is even more expensive than the UK, where I come from. Also in summer months the heat and humidity are brutal, mostly from June to Sept; so vitually no outdoor activities unless they involve water. Real estate is not cheap either, I bought a modest one bedroom apt in a nice area of town at a cost of $170K. Plus lots of expenses, associayted with ownership.
I think UAE is good as a base, but to spend significant time (esp summer months) in other countries: Turkey, Morocco, Lebanon, as well as the far east: Thailand, Malaysia etc. all of these are easily accessable from UAE.
Country that treats you best (with low taxes) depends upon your nationality, ethnicity and religious believes. Can only generalize.
I'm Dubai right now! I have been here over 100 times and absolutely love it. Great choice.
Isn't housing very expensive?
Same,
@@luv2travel2000 - housing same price as 2010. Bad investment. Rent.
@@crossroads670 Is renting a 2 BR expensive? I had heard Dubai is amazing but if you have to rent on your own it is very expensive.
@@luv2travel2000 depends where you live. Marina is expensive. Living with others is affordable and you can live comfortably in a new apartment with ensuites on every room.
To me Antigua is the best choice, I love the great outdoor, some skynny deeping in desert beaches some backyard archery, sailing wow, sound like a dream to me.
When it comes to retirement, I am surprised so little is discussed about health care: many of the tax free or reduced tax countries can become very expensive if they don’t have a reliable and affordable national health system available to you. Same could be said about nomads with family and schools/education. Single and young people on the other hand have little reason to live in high tax countries with generous social benefits like it is the case for most of Europe
David, the healthcare system in Colombia is excellent and the people are warm and welcoming. Pablo Escobar died in 1993 and Colombia has transformed. If healthcare is a concern, living in a city like Bogota' or Medellin gives you access to world class health care and almost anything else you might want or need.
Thanks for the breakdown! Could you help me with something unrelated: I have a SafePal wallet with USDT, and I have the seed phrase. (air carpet target dish off jeans toilet sweet piano spoil fruit essay). How can I transfer them to Binance?
I LOVE Monaco ... 2years of peace & quiet.
Hard to get in to?
@@prestontucker1687 not so much if you have + $20million or so ... more is better :)
@@gaeldesmontagnesnoires1711
No problem. I just thought the wait period was long. Worth it?
@@prestontucker1687 100% between October & May the rest of the year Monaco is inundated with car people & onlookers it's a little much ... anywhere all the time is a little much anyways. I'd say sure @ least with a lot of spendable $$$ you can have excellent accommodations 🥂 & Nice is 15mn in helicopter to jet off.
Are there any restrictions on women in the UAE?
Andrew
Is crypto taxed in Mexico ?
Any information will be greatly appreciated
As any other income if you are resident. That means living in Mexico for more than 182 days. Where do you get your income doesn’t matter, what determines is it is taxable in Mexico is residency...
Very interesting! Meeting nice and reliable people is so important! Thanks!
We are in paradise in the middle of Mexico. We are going to be blessed financially even more in the future, so I am very intrigued by this site. We may never leave yet the options will be more open. Thanks for your work. (We are surrounded by really nice employees and friends now).
How is the climate in the middle of Mexico? Is it less humid?
@@Cryptogally High desert, low humidity, cold (40s) at night and up to 70s during the day. Very little rain.
What is your objection to living in Monaco? I lived there for three years, and couldn't have been happier. How about Andora? How about Luxembourg.
What's the best cost effective place in Monacoto live?
While I agree with the concept of living tax-free, or as tax-free as possible, after living in the Middle East for 8 years, I WOULD NOT settle in the UAE. It's TOO HOT! And because it's focused on the higher investor community, it is more expensive than necessary. Plus, they're not very dog friendly and if my dog can't go where I go, then I'm not moving there. Now, with that said, the UAE is a fantastic place to visit. There is a lot to see and a lot to do but once you've done them, it's just TOO HOT. If you're ok with temps over 130F, and you're ok with spending more for less, then go for it.
Gday, mate. What about living in Andorra, Gibraltar , Switzerland, Monaco or San Marino of Italy? Yes it lacks UAE/ metropolis bustles, but its really nice out there...)) I bet,- you ve been there, done that. Personally i prefer living near the big city, but in quiet area with good infrastructure, say in Johor Malaysia, say 1hr drive from Singapore. or near Budapest or near Adriatic coast. Its 1-2 hrs from everywhere, not like 24hrs flight or 15K km in Sydney AUS...)))
Leave the grumpy, psychologically damaged west and find nice people, sane people, attractive (inside and out) people. Enjoy the freedom of smiling at someone without them thinking you are crazy. Where you can say hello to a woman without her calling the cops.
So where do you call home, or want to call home?
Best advice
great video, subscribed, what if u have some property in UK, where there is IHT, but you now reside and domciled in a non IHT country?
Lebanon. Mediterranean climate, good skiing, good beaches, beach clubs, yacht club, great nightlife/shopping/spas, fantastic cuisine, personal service (maids, drivers) great. The educated people are some of the most sophisticated on Earth.
Primary language?
@@successandlifestyle English works fine. Educated people speak English & French. The primary language of the country is Arabic (Lebanese dialect Arabic)
Except when you are getting hit with low yield, tactical nuclear weapons. No thanks.
@@Timithos Lebanon really isn't even a country in any sense of the word. The people are highly divided and mostly crazy. The government goes from nonexistent to terrible, but it is completely incompetent to enforce its will on anything. Hezbollah runs half the country and has a parallel government, but does not seem inclined to impose Shariah or crush the party scene. In spite of this the lifestyle is actually pretty good. What is written in the paper is not what you experience in everyday life. Faraya has good skiing (the village sucks, the European village scene is much better). The private beaches are some of the best in the world. The nightlife is fantastic as is the shopping. I've never had a banking issue there, the banks have actually treated me better than banks in Argentina or the US. Its not for everyone, but if you have connections to the country its a good no-low tax lifestyle.
@@frederickmuhlbauer9477 Lebanon officially uses the US dollar, and everyone takes Euros as well. Its not for everyone but the lifestyle is nicer than people generally think.
Guys and gals, it boils down to what you are looking for (surprise!). There is no "one size fits all". Start from all the tax-free countries and decide based on your what is important *for you*. Personally, I have lived and worked in Dubai for a number of years and it suited me just fine. 4 months a year, the weather is cool, another 4/5 months its bearable but in thick of Summer - 2/3 months, better go somewhere else. Still, I'd go back in a heart-beat, but that is just me. YMMV.
I love the point about being surrounded by nice people and having nice interactions! For that (forget the tax) it’s hard to beat places like Japan, Thailand (outside the tourist haunts) or off the beaten track places like believe it or not Afghanistan. Get the hell out of places like Paris, the US or China where for whatever reasons there can be hostility from authorities or those in service industries
I met germans living in Bangladesh and love it and have beer ..
Have only traveled in Afgh. Did you live there? Definitely met some of the most interesting people in my whole life
US is a very inhospitable place anymore. Pleasant and nice people here are systematically being weeded out.
@@zzospreyzz55 yep the eat too much bad foods
@@zzospreyzz55 be careful and wear body armour. Say your Canadian.
Very nicely explained Andrew. :)
We have been very happy bringing up our 2 boys in Bahrain for the last 20 years. I have been able to support the family on one teacher's salary and we have a very good standard of living. Daily interactions with those around us are always friendly and pleasant. We love your channel by the way!
Could someone on a UK state pension afford to live there?
Again. Honest, informative and excellent!! I look forward to your experienced thoughts every day!!
UAE all life long !!! 3 years since i decided to move here and still super happy of my decision . This is the most cosmopolitan place on earth and much more tolerant than what Western people think ( or what they are said by media) , for sure more tolerant than most of Western countries .
Che lavoro fai, se posso?
UAE for sure, with maybe a tropical island as a holiday destination etc. UAE is so central with a great time zone and very easy access to world markets.
You are the only person I’ve ever heard who enthuses over DXB in this way ! The only person.
I like that airport too
@@kingraghavsahni the airport is OK ... but as a country to live in ? No thx UAE 🇦🇪 !
Do you have to make a company to get your crypto out or get residence in Dubai ?
I totally agree. I went to most of the Caribbean and loved it for a week but then got bored. I lived in Bahrain for many years and loved it but my business was literally stolen and after a long exhausting court case I got nothing.
I really like your attitude, Andrew.
UAE investing heavily in green energy. Also as of last Nov made changes to Islamic personal laws incl unmarried couples can now cohabitate, loosened alcohol restrictions and criminalized “honor killings.” This may help some.
not enough, by far.
How about the heat? Have you been in dubai in summer?
Question: so how does moving and living in the UAE allow you to take advantage of tax benefits if you’re American? How does that work so you can avoid capital gains in the UAE?
You will have to get rid of ur US Citizenship
Hi Andrew , can you make a video on belgrade real estate and banking system for foreigners on opening bank account and applicability if they allow to transfer , receive money in account through online banking