Thank you Andrew. Your videos have been a great inspiration to start becoming an entrepreneur again. This video, and others, helps with the direction I am going.
WHen you own property in multiple places it can be a horror show. WHen I did that young living half way across the US from most of my property holdings , even though I had a property manager, it kept eating up too much of my time and intruded on the life I WANTED to live, free of responsibility...at my age I have done it all, had it all, and realize all my properties, cars, boats, etc owned me, in that I had to THINK about them constantly...young, it is fun, but decades later, not so much. What I was looking for was liquidating my properties, relieving me of thinking about STUFF, freeing up my brain to just enjoy my life. I chose a country that does not tax foreign holdings or foreign earnings at all. I own no business where I am, so zero taxes. I still have US citizenship, file federal tax, no state tax as my official residence is Texas, a no state income tax state. My life is heavenly ....very similar to Costa Rica but NOT Costa Rica.
Hi Andrew, thanks for providing consistent and high quality content on your channel. I've been following for quite a while! Just curious - have you ever done a video on mandatory social contributions in the vast majority of EU countries? I ask because, even where entrepreneurs might structure themselves in such a way so as to dramatically reduce their tax liability, escaping or even reducing their obligation to pay social charges (for example, in France and Belgium around 22% of gross receipts for freelancers) is an entirely different (but equally painful) question to resolve. I for one would be very glad to see you discuss this issue as it seems as though its something of the elephant in the living room for many of us in the EU. Best wishes for the New Year. Cheers, Travis
You can live in California as a "homeless person" or "undocumented immigrant" and pay NO taxes. ( you actually get more benefits as an undocumented immigrant than as a homeless person) Pretty much every basic necessity is paid for you by the socialist government. It is true, that you will spend a lot of time waiting in lines for various things like non-emergency medical care, but I know of several of them who have figured out how to game the system. (Several use that waiting time to write a book or work an online job) There is a huge underground economy here as well - that is never spoken of... and there are plenty of cash job side hustles for the clever ones. Those clever ones manage to live quite comfortably - on a non-taxed total income of 30 to 40 thousand dollars a year by simply staying off the radar. One of them shares a room in a very nice apartment for free because he came up with a way for the roommates to cover all of the rent. Since we are apparently moving into a socialist/communist government in this country - and more and more states are offering free benefits - I believe you will see a lot more of this. While technically not exactly legal in a lot of ways - an innovative person can survive a lot better than you would think, by living under one of those government "classification"s.
I think Caribbean countries are the best. Many of them are zero tax countries. I also love the ultra rich vibe of Monaco but it is VERY expensive compared to St. Kitts, Bermuda, or the Cayman Islands.
It depend on your lifestyle. Tax is like an admission fee to access a park or theater. My state park use to be free , but it is full of drug dealers and night shooting. Since they charge admission fee, the park become much safe, quieter, and more enjoyable.
I'd agree with this tbh, however when one looks at California then you really question where on earth your taxes are going. Homelessness, drugs and crime is just increasing and they have no real plan on fixing it imo. I also don't think its just a California thing. Homeless are increasing all across Western countries
Even worse, there are treaties that include channel islands in tax heaven (final beneficiary prevails - no double taxation treaty). Eg : jersiais holder (person or company) is taxed for the property detained in some EU countries (annual 5% in France). Barbados, Gibraltar, Virgin, Isle of Man ... follow the same rules. 2 categories of property on the market. a) reserved for resident. b) international property. This last category has the price of centre London. There is also program for top profile, world class entrepreneurs. I am originated from France around this place. With cultural attachment and project with the islands (I can understand the jersiais, oil dialect from my grandparents) you have some chance, 20% tax. As a pure tax nomad I would say minimum 5 millions assets, this video is a dream.
We are loving your videos Andrew, they have given us a lot of inspiration to change how we live our lives. We are currently living in Nicaragua, stuck due to covid, and we love the idea of living 'where you are treated best'. Right now we can't get back to Australia, but you have led us to question whether we need to get back there at all!
“Today’s selloff is a reminder this is a relatively new asset, highly volatile, and still yet to find its place in the market,” said Adrian Lowcock, head of personal investing at Willis Owen Ltd. “There are many (major) hurdles for it to overcome for it to be a useful mainstream asset.” As ever in the world of crypto, it’s hard to pinpoint the proximate cause for the latest bout of volatility.
The incongruity between the treatment of cash and cryptocurrency under FinCEN’s Proposal will inhibit adoption of cryptocurrency and invade the privacy of individuals. Yet the rule fails to explain the difference in risk. As such, this low threshold and its extension of KYC obligations beyond customer relationships is arbitrary and unjustified
Bitcoin will only drop good once a major currency like the dollar collapses, until then it´ll keep feeding on it and raise it´s overall value, while the Dolar itself hiperinflates itself to oblivion, this is why it´s called "One of the massive transfers of wealth in history". Since hiperinflated countries like Venezuela need it to pay the bills, it´ll never truly go away.
my objective is to zero my tax or even lower it, but at the same time no plans to live in those countries. just want to have also the freedom of movement.
In Canada if earn under 12k in foreign income you can have that as tax free income. So if you are renting a property, have business overseas, have investments in foreign invested markets or something. You can have that money without paying any taxes for it.
I am writing this post to help clear up a point of confusion. It is my belief that confusion is best dispelled by illuminating the subject. The confusion at hand concerns the term US person, as used in the subtitle ‘A’ of the Internal Revenue Code. That confusion appears to have led to the mistaken conclusion that most are a US person. The purpose of this post is to shed some light on the subject and thus end the confusion as well as the incorrect conclusion that most people are a US person. In order to determine the meaning of US person, most people turn to 26 USC §7701(30), which states that a US person is (among other things), a citizen or resident of the United States, a domestic partnership, or a domestic corporation. This definition is often misread by those who don’t understand how law is written. First, it is important to understand that this is a broad general definition that applies to the entire tax code, and is not specific to income tax. The second important aspect to understand is that it creates/defines what the law calls a “class”, not a 1‐to‐1 directive. A simple plain English way to understand this is to look at a more common example within the same context. 26 USC 9999 (a fictitious citation): Husband - The term ‘husband’ means a male. You can see that this definition provides a basic “class” concerning who can be husbands but does not make every male a husband. Or phrased another way, every ‘husband’ must be a male, but not every male is made a husband by the definition. The same exact thing is true of the definition of US person; every US person must be a citizen of the United States but not every citizen of the United States is made a US person by the definition. It’s a very simple and straightforward concept, just sometimes misunderstood. Now we look specifically to subtitle ‘A’, which people commonly refer to as “income tax”. Since the general definition we’ve already discussed applies to the entire code (not income tax specifically) and it merely tells us who can be a US person, we must look to see who has actually been made a US person for income tax purposes. Chapters 1 and 2 of subtitle ‘A’ provide no guidance on this subject; they simple state what a US person is to do in various situations, not who is a US person. We do not find the specificity we are looking for until we come to chapter 3. Every instance of US person in chapter 3 details that a US person is a U.S. citizen (or domestic firm) involved in the flow of U.S. source income to a foreign person. There is no statute or regulation, nor a single example anywhere in subtitle ‘A’, in which a US person is involved with a payment from one U.S. citizen to another U.S. citizen domestically. Since there is no statute or regulation, nor even one single example of that in all of subtitle ‘A’, clearly that omission is not an error, it is the law. Remember that “every US person must be a citizen of the United States but not every citizen of the United States is made a US person by the definition”? What makes a U.S. citizen a US person is being involved in the transfer of U.S. source income to a foreign person. Just as a male must “get married” to become a husband, a U.S. citizen must “be involved in the transfer of U.S. source income to a foreign person” to become a US person (for the purpose of the income tax). Lastly, the instruction for the Form W‐9 states, “Use Form W‐9 only if you are a U.S. person.” Please note that it says “only if you are a U.S. person”. No other class of person is indicated anywhere on the form or its instructions as being allowed to use Form W‐9. Since we now know the limited meaning of US person (in reference to income tax), and we see that the Treasury Dept only permits a US person to use Form W‐9, it is easy to see that I am not a person who is permitted by the Secretary of the Treasury to use or complete a Form W‐9.
Best way to pay no taxes is to make it that way. Always set up your successful life under multiple businesses and divide your income into many accounts. Also remember tax write offs add up and ultimately lower any tax you’re originally being charged. Best trick ever is to write of as many things as possible as business related. Those write offs always add up to well beyond the taxes you’re paying. 🥃🥃
The wisest thing that should be on every wise individual list is to invest in different stream of income that don't depend on the government to bring money especially now that the pandemic is hitting economy pretty hard.
Thank you for sharing. It is important for people to ACT on there future before they have too or have none! How about if you just want to leave? You don't care if your poor or what the taxes are?
Second comment after watching the whole show ,, I love Andrews work and I am a keen student , it seams like obsessing over never paying a penny ever in tax might lead to loneliness,, just a thought ...😎🤣😎
It's confusing. Bulgaria, for example, yes, they have a 10% income tax, but then you pay social security, between 29-43%, and they also have 20% sales tax. Not to mention electronics are a lot more expensive than for example, in Germany. Food is generally cheaper, but if you opt for supermarket food, it's considerable less nutritious. But home-grown foods are better (eggs, pigs and fruits grown there)
@@ordinaryhuman5645 This is very true that all land is an island but I was speaking more in the sense of "small" islands. My problem is if you are on an island and SHTF where do you go????? The only way off is by boat or plane or swimming!!! If I am in say the US I can go north or south for thousands of miles very easily...bus plane train car walk run horse etc.....on an island a small island you can only go around and around and around with little hope of escape!!! So for I think I will be sticking with the "BIG" islands!!😁
@@tmeadowsdegil2014 That is why you HAVE to know the language and the customs... if you do, you make solid friends and they help guide you out of the dangerous areas.
Thanks for these very informative videos. I'm learning a great deal from watching your content, and I just bought your book. I am not an entrepreneur, however as educators we have access to teaching opportunities in Saudi Arabia and parts of South America, where the salary is paid, tax free, in US dollars. Who would you suggest talking to about minimising your tax exposure in these type of situations? Most domestic accountants in NZ or Australia do not have the skillset. Thanks again.
Most passive investment income is generated in the USA EUROPE or Canada. These countries have withholding taxes on income paid to non residents . How does a non resident avoid this problem?
Please do a video on this scenario. I live in US or Can. I have a business that I want to set up offshore in a low / zero tax country (e.g. Cayman). The business will make $3 million per year in net revenue. I will continue to live in US or Can. I will not receive an income from the offshore business. Do I need to pay any taxes personally since I didn't receive any salary/dividend? Thanks.
Worse, your entire business is going to be liable for tax in the US or Canada, seeing you are still living there --- the fact that it is incorporated in the Cayman Is or some other "tax haven" is completely irrelevant.
Just starting following your channel and enjoying your videos. I would love to see a video covering options for people operating in Australia 🇦🇺 I just purchased your eBook and looking forward to the read. Globalism is here whether we like it or not, so why not exploit the benefits? 👊
You can get there man, I'm working multiple jobs and putting the money that isn't going to the electric bill into mutual funds and S&P 500. You can save up, you can move.
@@geeb3376 1954 UN convention on stateless persons... Any State that's a signatory to it, provides complimentary permanent residency to people without any citizenship. Along with pr, the government, in which the application is submitted, issues a document that looks very similar to a passport. However, the field for nationality will either be omitted, have one or multiple X's in the place of a nationality, or a word implying "no state", in some way. Also, in the United States, if someone is a Federal Citizen, yet, not a citizen of a state, they are considered, by statute, stateless. There are a few cases that provide stare decisis, in regard to that matter. It's fairly well documented and not extremely difficult to find the information, provided someone was motivated to render themselves stateless. Although, due diligence is imperative. One must be a seeker. You won't find any internet gurus or consulting firms advising clients on how to achieve that political/legal status and you certainly won't find any BAR card holders ushering people out the back door, either.
@@nomadcapitalist Thank You. That makes sense and was helpful. I am going to have to join your live talk. Because I want to know, are there holding structures for a small business to run like Starbucks or Apple?
I'm not sure if we have many articles on that, Stefan, but we have worked with several commodities and day traders, as well as crypto traders. Feel free to email our team at help@nomadcapitalist.com.
Thank you Andrew. Your videos have been a great inspiration to start becoming an entrepreneur again. This video, and others, helps with the direction I am going.
So glad to hear that!
WHen you own property in multiple places it can be a horror show. WHen I did that young living half way across the US from most of my property holdings , even though I had a property manager, it kept eating up too much of my time and intruded on the life I WANTED to live, free of responsibility...at my age I have done it all, had it all, and realize all my properties, cars, boats, etc owned me, in that I had to THINK about them constantly...young, it is fun, but decades later, not so much. What I was looking for was liquidating my properties, relieving me of thinking about STUFF, freeing up my brain to just enjoy my life. I chose a country that does not tax foreign holdings or foreign earnings at all. I own no business where I am, so zero taxes. I still have US citizenship, file federal tax, no state tax as my official residence is Texas, a no state income tax state. My life is heavenly ....very similar to Costa Rica but NOT Costa Rica.
Less is More!!) Keep your money working for you and you can take it around the World!
Belize?
Hi fr overtaxed NYC metro area...Litchfield County, CT....strategy for us is to MT out starting Spring... 2 much to handle
@Sybil Francis well don't be a tease, tell us which country you chose.
@@Timithos Smart!
Thank you for being so generous with your time and wisdom. Much appreciated
Hi Andrew, thanks for providing consistent and high quality content on your channel. I've been following for quite a while! Just curious - have you ever done a video on mandatory social contributions in the vast majority of EU countries? I ask because, even where entrepreneurs might structure themselves in such a way so as to dramatically reduce their tax liability, escaping or even reducing their obligation to pay social charges (for example, in France and Belgium around 22% of gross receipts for freelancers) is an entirely different (but equally painful) question to resolve. I for one would be very glad to see you discuss this issue as it seems as though its something of the elephant in the living room for many of us in the EU. Best wishes for the New Year. Cheers, Travis
So glad I found this channel, I am no long Thailand bound. Consider all the countries so you can go and be treated best.
Glad to hear that, Chris.
I do respect your channel
Nice new intro man, love it
Appreciate it!
You can live in California as a "homeless person" or "undocumented immigrant" and pay NO taxes. ( you actually get more benefits as an undocumented immigrant than as a homeless person)
Pretty much every basic necessity is paid for you by the socialist government. It is true, that you will spend a lot of time waiting in lines for various things like non-emergency medical care, but I know of several of them who have figured out how to game the system. (Several use that waiting time to write a book or work an online job)
There is a huge underground economy here as well - that is never spoken of... and there are plenty of cash job side hustles for the clever ones. Those clever ones manage to live quite comfortably - on a non-taxed total income of 30 to 40 thousand dollars a year by simply staying off the radar.
One of them shares a room in a very nice apartment for free because he came up with a way for the roommates to cover all of the rent. Since we are apparently moving into a socialist/communist government in this country - and more and more states are offering free benefits - I believe you will see a lot more of this.
While technically not exactly legal in a lot of ways - an innovative person can survive a lot better than you would think, by living under one of those government "classification"s.
They are making even more now because they don't need to pay the rent during the pandemic.
@@sexygeek8996 Yup... A few even manage to own houses and other real estate by "devious" means.
@@creamydistortion When any person buys a pack of cigs they are paying taxes
Under the radar is done everywhere that has a corrupt gov.. I would think
I think Caribbean countries are the best. Many of them are zero tax countries. I also love the ultra rich vibe of Monaco but it is VERY expensive compared to St. Kitts, Bermuda, or the Cayman Islands.
I would not even make the comparison.
The best information that is needed is right here on Nomad Capitalist channel
It depend on your lifestyle. Tax is like an admission fee to access a park or theater. My state park use to be free , but it is full of drug dealers and night shooting. Since they charge admission fee, the park become much safe, quieter, and more enjoyable.
"Free" is a lie, there´s always a cost, the cost of investing in "Free" land is that it often comes from 3rd World untamed potential territory.
I'd agree with this tbh, however when one looks at California then you really question where on earth your taxes are going. Homelessness, drugs and crime is just increasing and they have no real plan on fixing it imo.
I also don't think its just a California thing. Homeless are increasing all across Western countries
@@fintech4220 All around the world...
My park still has drug dealers and night shooting.
@@walterchelate28 too bad
Channel Islands. 0% tax is for foreign income. Local benefit is 20% taxed.
@@beni2166 Citizenship by investment wasn't mentioned in that message
Even worse, there are treaties that include channel islands in tax heaven (final beneficiary prevails - no double taxation treaty). Eg : jersiais holder (person or company) is taxed for the property detained in some EU countries (annual 5% in France). Barbados, Gibraltar, Virgin, Isle of Man ... follow the same rules.
2 categories of property on the market. a) reserved for resident. b) international property. This last category has the price of centre London. There is also program for top profile, world class entrepreneurs. I am originated from France around this place. With cultural attachment and project with the islands (I can understand the jersiais, oil dialect from my grandparents) you have some chance, 20% tax. As a pure tax nomad I would say minimum 5 millions assets, this video is a dream.
We are loving your videos Andrew, they have given us a lot of inspiration to change how we live our lives. We are currently living in Nicaragua, stuck due to covid, and we love the idea of living 'where you are treated best'. Right now we can't get back to Australia, but you have led us to question whether we need to get back there at all!
“Today’s selloff is a reminder this is a relatively new asset, highly volatile, and still yet to find its place in the market,” said Adrian Lowcock, head of personal investing at Willis Owen Ltd. “There are many (major) hurdles for it to overcome for it to be a useful mainstream asset.”
As ever in the world of crypto, it’s hard to pinpoint the proximate cause for the latest bout of volatility.
The incongruity between the treatment of cash and cryptocurrency under FinCEN’s Proposal will inhibit adoption of cryptocurrency and invade the privacy of individuals. Yet the rule fails to explain the difference in risk. As such, this low threshold and its extension of KYC obligations beyond customer relationships is arbitrary and unjustified
Are we posting in a crypto shill bot thread?
Bitcoin will only drop good once a major currency like the dollar collapses, until then it´ll keep feeding on it and raise it´s overall value, while the Dolar itself hiperinflates itself to oblivion, this is why it´s called "One of the massive transfers of wealth in history". Since hiperinflated countries like Venezuela need it to pay the bills, it´ll never truly go away.
I love this mans work , and it helps , thanks Andrew...
“Vanuatu...*confused face* Where’s that?” LOL!
Outstanding job!
my objective is to zero my tax or even lower it, but at the same time no plans to live in those countries. just want to have also the freedom of movement.
I don't think there's a legal way to do that
My goal is handling dividends in a way that paying taxes isnt a hassle.
@@Timithos sure, all those ways consist on moving overseas. That's exactly what the person in question said he isn't planning on doing
Another great video! Thanks a lot Andrew and team.
In Canada if earn under 12k in foreign income you can have that as tax free income. So if you are renting a property, have business overseas, have investments in foreign invested markets or something. You can have that money without paying any taxes for it.
Wonderful advice and content
Love the music intro, so much better than the old one :)
thanks andrew - your videos are much appreciated!
Who else is unemployed so is paying 0 tax.
Don't worry, comrade! Stim checks are on the way!! 😂😂
@@Truther945 comrade? 🤔🤔
???$$$###@@!!!&&&:(:(:(
@@creamydistortion u very cheerful
I am writing this post to help clear up a point of confusion. It is my belief that confusion is best dispelled by illuminating the subject.
The confusion at hand concerns the term US person, as used in the subtitle ‘A’ of the Internal Revenue Code. That confusion appears to have led to the mistaken conclusion that most are a US person. The purpose of this post is to shed some light on the subject and thus end the confusion as well as the incorrect conclusion that most people are a US person.
In order to determine the meaning of US person, most people turn to 26 USC §7701(30), which states that a US person is (among other things), a citizen or resident of the United States, a domestic partnership, or a domestic corporation.
This definition is often misread by those who don’t understand how law is written.
First, it is important to understand that this is a broad general definition that applies to the entire tax code, and is not specific to income tax.
The second important aspect to understand is that it creates/defines what the law calls a “class”, not a 1‐to‐1 directive. A simple plain English way to understand this is to look at a more common example within the same context.
26 USC 9999 (a fictitious citation): Husband - The term ‘husband’ means a male.
You can see that this definition provides a basic “class” concerning who can be husbands but does not make every male a husband. Or phrased another way, every ‘husband’ must be a male, but not every male is made a husband by the definition. The same exact thing is true of the definition of US person; every US person must be a citizen of the United States but not every citizen of the United States is made a US person by the definition. It’s a very simple and straightforward concept, just sometimes misunderstood.
Now we look specifically to subtitle ‘A’, which people commonly refer to as “income tax”. Since the general definition we’ve already discussed applies to the entire code (not income tax specifically) and it merely tells us who can be a US person, we must look to see who has actually been made a US person for income tax purposes.
Chapters 1 and 2 of subtitle ‘A’ provide no guidance on this subject; they simple state what a US person is to do in various situations, not who is a US person.
We do not find the specificity we are looking for until we come to chapter 3.
Every instance of US person in chapter 3 details that a US person is a U.S. citizen (or domestic firm) involved in the flow of U.S. source income to a foreign person.
There is no statute or regulation, nor a single example anywhere in subtitle ‘A’, in which a US person is involved with a payment from one U.S. citizen to another U.S. citizen domestically. Since there is no statute or regulation, nor even one single example of that in all of subtitle ‘A’, clearly that omission is not an error, it is the law.
Remember that “every US person must be a citizen of the United States but not every citizen of the United States is made a US person by the definition”? What makes a U.S. citizen a US person is being involved in the transfer of U.S. source income to a foreign person. Just as a male must “get married” to become a husband, a U.S. citizen must “be involved in the transfer of U.S. source income to a foreign person” to become a US person (for the purpose of the income tax).
Lastly, the instruction for the Form W‐9 states, “Use Form W‐9 only if you are a U.S. person.” Please note that it says “only if you are a U.S. person”. No other class of person is indicated anywhere on the form or its instructions as being allowed to use Form W‐9. Since we now know the limited meaning of US person (in reference to income tax), and we see that the Treasury Dept only permits a US person to use Form W‐9, it is easy to see that I am not a person who is permitted by the Secretary of the Treasury to use or complete a Form W‐9.
Best way to pay no taxes is to make it that way. Always set up your successful life under multiple businesses and divide your income into many accounts. Also remember tax write offs add up and ultimately lower any tax you’re originally being charged. Best trick ever is to write of as many things as possible as business related. Those write offs always add up to well beyond the taxes you’re paying.
🥃🥃
Love the old music..........Short & sweet:):):
The wisest thing that should be on every wise individual list is to invest in different stream of income that don't depend on the government to bring money especially now that the pandemic is hitting economy pretty hard.
Hope to plan things up soon! Thanks Andrew, keep inspiring!
Thank you for sharing.
It is important for people to ACT on there future before they have too or have none!
How about if you just want to leave? You don't care if your poor or what the taxes are?
Second comment after watching the whole show ,, I love Andrews work and I am a keen student , it seams like obsessing over never paying a penny ever in tax might lead to loneliness,, just a thought ...😎🤣😎
It's confusing. Bulgaria, for example, yes, they have a 10% income tax, but then you pay social security, between 29-43%, and they also have 20% sales tax. Not to mention electronics are a lot more expensive than for example, in Germany. Food is generally cheaper, but if you opt for supermarket food, it's considerable less nutritious. But home-grown foods are better (eggs, pigs and fruits grown there)
I would love to hear about the best taxes and investments in Africa.
Mauritius
HA HA HA DONT THINK FOR A SEC...
THEY ARE SO CORRUPT.
Great topic
In this video Barbedos sounded good but I really dont like islands... I would love to hear more about Mexico!!
All land is an island if you zoom out enough.
Lived there 7 years, speak the language and learn the "customs" and you'll be fine. NOT wise, in my opinion - to live in the expat communities...
@@ordinaryhuman5645 This is very true that all land is an island but I was speaking more in the sense of "small" islands. My problem is if you are on an island and SHTF where do you go????? The only way off is by boat or plane or swimming!!! If I am in say the US I can go north or south for thousands of miles very easily...bus plane train car walk run horse etc.....on an island a small island you can only go around and around and around with little hope of escape!!! So for I think I will be sticking with the "BIG" islands!!😁
@@brianmarshall3931 I absolutly LOVE Mexico and have been there many times!! The majority of the people are great and it is very beautiful!!
@@tmeadowsdegil2014 That is why you HAVE to know the language and the customs... if you do, you make solid friends and they help guide you out of the dangerous areas.
Thanks for these very informative videos. I'm learning a great deal from watching your content, and I just bought your book. I am not an entrepreneur, however as educators we have access to teaching opportunities in Saudi Arabia and parts of South America, where the salary is paid, tax free, in US dollars. Who would you suggest talking to about minimising your tax exposure in these type of situations? Most domestic accountants in NZ or Australia do not have the skillset. Thanks again.
Awesome video!
Most passive investment income is generated in the USA EUROPE or Canada. These countries have withholding taxes on income paid to non residents . How does a non resident avoid this problem?
Please do a video on this scenario. I live in US or Can. I have a business that I want to set up offshore in a low / zero tax country (e.g. Cayman). The business will make $3 million per year in net revenue. I will continue to live in US or Can. I will not receive an income from the offshore business. Do I need to pay any taxes personally since I didn't receive any salary/dividend? Thanks.
Would be interesting to hear about.
Worse, your entire business is going to be liable for tax in the US or Canada, seeing you are still living there --- the fact that it is incorporated in the Cayman Is or some other "tax haven" is completely irrelevant.
@@miriamhaslip4074 That's not good. Looks like I've got to go back to the drawing board
Just starting following your channel and enjoying your videos.
I would love to see a video covering options for people operating in Australia 🇦🇺
I just purchased your eBook and looking forward to the read.
Globalism is here whether we like it or not, so why not exploit the benefits? 👊
Thanks for purchasing our book, Colin; we always appreciate your honest reviews. We'll consider more videos for Australians in the future.
The problem is not the high taxes, but what we get for them. The ideal is to have excellent services with low taxes. Where is this paradise?
I wish I was wealthy😭I wanna travel more
You can get there man, I'm working multiple jobs and putting the money that isn't going to the electric bill into mutual funds and S&P 500. You can save up, you can move.
Invest 1st, Travel 2nd👌
@@sebas8225 YOLO
Look up vagabonding. People with little money manage to travel the world.
Nice vid.
Go stateless and give up citizenship. Citizenship is just a way for governments to restrict people’s freedom.
@@geeb3376 You wont
@@sebas8225 Come to California, get free everything, no taxes, as "undocumented"...
@@geeb3376 1954 UN convention on stateless persons... Any State that's a signatory to it, provides complimentary permanent residency to people without any citizenship. Along with pr, the government, in which the application is submitted, issues a document that looks very similar to a passport. However, the field for nationality will either be omitted, have one or multiple X's in the place of a nationality, or a word implying "no state", in some way.
Also, in the United States, if someone is a Federal Citizen, yet, not a citizen of a state, they are considered, by statute, stateless. There are a few cases that provide stare decisis, in regard to that matter.
It's fairly well documented and not extremely difficult to find the information, provided someone was motivated to render themselves stateless. Although, due diligence is imperative. One must be a seeker. You won't find any internet gurus or consulting firms advising clients on how to achieve that political/legal status and you certainly won't find any BAR card holders ushering people out the back door, either.
Sark, nice 😉
What about creating a holding company in another country. While operating in the US?
Watch these first:
th-cam.com/video/92lXRmR20Ck/w-d-xo.html
th-cam.com/video/1n-cZQ3TGGM/w-d-xo.html
@@nomadcapitalist Thank You. That makes sense and was helpful. I am going to have to join your live talk. Because I want to know, are there holding structures for a small business to run like Starbucks or Apple?
What about staying in the United States and use whole life insurance and using tax code 7702 (a)?
Thanks
My Tax Budget is $15 kindly mention one Country where I can stay
Have you guys worked with traders (forex, gold, oil, stocks )?
Do you have material on your site regarding taxes around those ?
Thank you !
I'm not sure if we have many articles on that, Stefan, but we have worked with several commodities and day traders, as well as crypto traders. Feel free to email our team at help@nomadcapitalist.com.
Why are all the entertainer's & Tech Cowboy's moving to Montana & Wyoming in the United States?
Because they like bulls
👍👍👍
Territorial tax system ftw
From 50%??? I pay 70% of taxes .......... :D