How to Pay Zero Taxes Forever
ฝัง
- เผยแพร่เมื่อ 22 พ.ค. 2024
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Join Andrew as he reveals his journey from high tax frustration to global tax optimization. Learn how lifestyle choices, strategic residency, and understanding different tax systems enabled him to legally minimize his tax burden. Discover the power of financial freedom and the possibilities of living a tax-efficient lifestyle. Don't miss out on the secrets to keeping more of your hard-earned money!
00:00 Start
1:13 The Three Pillars: Finance, Freedom, and Lifestyle
2:27 Benefits of Living in Different Countries
4:59 Colombia's Tax System
7:10 Choosing Tax-Friendly Locations
7:52 Different Government Attitudes
8:30 Personal Experience in Malaysia
10:27 Crafting Financial Strategy
Nomad Capitalist is the world's most sought-after expert on legal offshore tax planning, dual citizenship, and international asset protection. We work exclusively with seven- and eight-figure entrepreneurs and investors who want to "go where you're treated best."
Nomad Capitalist has served as the “architect” and “general contractor” for 1,500+ clients who wanted one company to manage their holistic plans. We help these clients keep more of their wealth, increase their personal freedom, and protect their families and wealth against current and future threats at home.
Our in-house team of researchers, strategists, and executioners know more about these strategies than just about anyone. We’ve also spent more than a decade building a trusted network of attorneys, accountants, real estate agents, and others to assist our clients. As a result, our approach is not only holistic, but agnostic; we offer our clients advice on and options in 90+ countries, more than any other firm by far.
If you’re looking to diversify internationally, whether for lower taxes or as a “Plan B”, trust the industry pioneers at Nomad Capitalist and our experience serving the needs of globally-minded entrepreneurs and investors.
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DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.
After spending months watching these videos I now have it all planned out. All I need is the money!
😂
Same thing here😅
Precisely 😅🎉😊
Am where I can afford to be independent in Cali.
Do you ever rent your apartment in Bogota, Colombia. Asking for a sweet lady friend from The USA and I 😊
@@dakota-rt8kd I do. Just send your lady friend out one week before you arrive and we'll call it even.
It will come!
I wouldn't mind paying a REASONABLE amount of taxes if the government actually used it wisely and made life easier for citizens.
Instead, the taxes are too high, the government is not spending tax money wisely and they are overregulating everything, making it so complicated to run a business or do anything at all.
So I left a few years ago👍
Governments ran just fine before income taxes were introduced. Far better than they actually do today. America's economy was the strongest in the world when Americans paid no income taxes before 1913
where did you go?
Why should I pay usa taxes if our veterans are homeless our millennial can't afford a home and all the tax revenue goes to securing an Israeli and ukrainian border instead of out own while illegal immigrants get free handouts?
I'd accept 15% flat tax forever. And I want to receive a receipt saying _exactly_ how my money was spent.
@@fjorddenierbear4832 look at Hungary or Hong Kong they have (I believe 15%) flat taxes. Singapore is a progressive system, but it doesn’t go above 15% until you are making over 160,000 a year and the first few steps are really low. It caps out at 22% for 320,000 and there is no capital gains on non-real estate investments.
Personally I like the fixed fee model like Italy’s program. Here is your €100,000 and we are done. No paperwork super easy.
Your content has really become first rate from a production standpoint. Even Andrew’s delivery has gone up a notch. Just wanted to tell you I noticed. Nice work.
Thank you so much for your feedback! We're constantly striving to improve and deliver the best content possible.
@@nomadcapitalist I still don't get how you can live in columbia even occasionally though. How are your organs still intact. Do you take a mercenary group or a hired paramilitary there when you go?
@@nomadcapitalist Lack of Donald Trump impressions is noted. Must improve.
@nomadcapitalist does your system only work for business owners, right? Any W2 Income doesn't work with that
Polish people who move back to Poland get to live four years tax free!
What if I identify as Polish?
Not quite. The first 85528 PLN earned in the year are income tax exempt, any excess is taxed at normal rates, and they still have to pay social security contributions from the first dollar. And 85528 PLN is around USD 21.000. It's a good exemption, but it's not what I would consider tax free.
how did you figure that? Do you have any proof ? please post the link
Andrew, your presentations just keep getting better & better. Peace be with you. Out.
I notice the A/B testing your team is doing on your content titles. Very smart. For the record, I clicked on the earlier title with "0". I saved it for viewing later today. Love your content and will be at next year's conference.:)
Well I know one thing, I refuse to pay anymore taxes in this country. Not a dime. I've had it! I'm trying to get out and try the Ireland deal but it always seems like I can't catch up to match the downpayments for residencies in these places. They want and arm and a leg. Well whatever. Everybody wants fast money but if it was easy everybody would have it.
Same here mate...I refuse to pay any more taxes to the criminal Australian govt...Time to relocate to Philippines for me...
I am Portuguese and I live since 2022 in Brazil. I pay 0 taxes here. Just this year I made 1M in Crypto and I'm so happy that I don't to pay extortion fees.
I dont how that works, but i am Brazilian and things are not so bright for me, i will need to get out of here someday, i dont want extortion fees too, because they prevented us from buying cheap things from china, this place is crumbling with those abusive taxes, good luck with this win of not helping this circus
@@caduguardrailkingowo Você sô tem que aprender a jogar o jogo. Como eu sou cidadão Europeu tem várias formas de ... driblar o sistema ;)
In America you'll pay 30 to 45% of your income and another 5 to 10% for healthcare insurance.
Plus random large medical bills. If I had to guess the typical American probably pays more in taxes / healthcare to get less than our friends in Europe. Unemployment and family leave is a complete joke here.
Canada is even worse.
What… no no. You are forgetting about state taxes…
That’s why I can’t wait to get out
Hi Andrew, found your channel recently, your contents are so good!! As a Malaysian I am very proud to hear that your channel constantly mentioning my country! 🇲🇾 hope you are loving our Nasi Lemak and Roti Canai ✨
I went to UK to study abroad and just started working. Currently thinking if I should stay or go back to Malaysia. I admire your way of living and its definitely what I am planning to do in the future! Would like to see some contents for graduates or even contents for Malaysians who went abroad?
Please continue with the amazing works! ☺️🥳
I am so sick of paying half my wages in taxes to support socialist programs I never qualify for.
Yep… and it’s only gonna get worse.
Agree completely. But what can be done?
Come to Canada, with Gst and carbon tax it’s like 75%. FJT
Thank you Andrew
I predict this will be most popular video of all time
5:18 what happens if you get stuck in Colombia for more than 183 days (e.g. pandemic 2.0) thus fall under their tax jurisdiction. Or vice versa, aren’t able to travel back to complete your 180 days thus lose your residency. Absurd.
Much appreciation for the financial enlightenment. You are awesome.
The only thing I don't like about Malaysia is that they had a very high uptake of the covid vax and restrictions. Worries me about the future.
Pureblood😏
can you explain more?
Every country has it's pros & cons. I would personally never live in the United States again. I've been in Jakarta since 2014.
Are your worried the population will turn into some kind of mutants?
@@Jamezar Tainted genepool. I will never date or marry a mRNA-jabbed woman.
These videos are your bread and butter. They represent your expertise in a concise and obvious way. Make more of these, less on the others.
minimizing taxes can significantly impact your overall returns.
What about going to deutscheland. They have high taxes 30%. I heard cheapest offshore corporation was on British virgin islands. I am from Maryland.
I missed the pastel suits.
Only guy I know who could pull it off.
UK is not tax friendly anymore that I know of
Great content 💯🍿☝️
Australia sucks (I am accountant) and recently The Administrative Appeals Tribunal (AAT) held that a taxpayer was an Australian Tax resident EVEN though he was mostly living and working OS. Between 2017 and 2020 he spent less than 2 months in Australia. I suppose that means one has to get another Nationality???
What if I move my business to Europe and I have citizenship and structure it within a trust? Surely the Aus govt cannot touch your overseas income due to double tax treaties
No just get a long term rental contract or buy a place abroad.
@@liquid_metal Sir - this will not work. One has to SHOW that you have minimal connection to AU. Cancel health insurance, MV licence, divorce, no funeral plans, children not living rent free in a house you own. It is that bad. Au is punishing.
It depends. Profession by profession, make your own calculations, do your homework. You are the project manager of your life. Andrew is right. However one size doesn’t fit all. Careful with taxes in Ireland. After you pay a professional ie an accountant to make a simulation of taxes in your situation, you may decide otherwise.
No thanks, Colombia. They recently implemented a ridiculous wealth tax. Read the country's tax documentation (or a summary) before getting too excited about moving there.
I agree Malaysia is quite reasonable when it comes to taxation based on my experience too
so if you trade stocks on US exchanges while living in Malaysia, do you pay axes to Malaysia because the work was done while you lived there?
@@JA-he2qz only if you are under digital nomad visa 1year to be renewed than yes there is around 9% if not mistaken BUT if you own property or under MMH2 which gives you 10 years visa and actually doesn’t allow you to work in Malaysia since its retirement visa than no you DONT pay tax on your income.
You've moved and have been living in Malaysia, and doing business there, you admire there taxes free, so far I think most of your clients are based in U. S A. or Western nations, you are a guy who love taxes haven, aren't t you?. Plus I am from Cambodia, I definitely going retire there
so if you trade stocks on US exchanges while living in Malaysia (for less than 183 days), do you pay axes to Malaysia because the work was done while you lived there?
No, if you’re a US citizen. You pay your tax to America, regardless of where you live.
If you are a US citizen, you will pay tax regardless. For me I trade US stocks but live in UAE so I do not pay capital gains tax. If I wanted my gains transferred to my home country I would be taxed at 30%.
@@Tommygunn258 so you’ve renounced your US citizenship
@@davidkyle2073 Actually I am not American, but I take advantage of the system, the UAE and the US do not have a tax treaty so I don't pay capital gains. The only way you'll escape worldwide taxes as an American is if you denounce your citizenship.
@@Tommygunn258 you mean “renounce”
About your property in Bogotá-Colombia. How do you avoid paying property tax which is quite expensive? I estimate for that property it must be at least 1,000 dollars a year. Also the administration of the community of neighbors which in Colombia is very expensive. In that area it must be about 300 or 400 dollars a month or even higher.
If you think $1K/year is expensive, I humbly recommend that you ignore his videos. You are not the target audience he is aiming for as customers. After all, his business is to sell his services.
What he says is irrelevant to you. You may only dream about all those schemas he talks about, but if in the end you get a meager salary and live paycheck to paycheck, it's all useless, as these things don't apply to you.
@@JC-jx9bpcompletely disagree, if people retired with 500k in a pension, you still would rather not pay it. Just bc he doesn’t own a private jet doesn’t mean he can’t watch these videos lmao
He says it's about $1,500 and he just pays it. You can't avoid property taxes as property is a local asset and taxed regardless of where you live.
@@nomadcapitalist Thanks.
1k a year to middle class Americans is not "expensive" and I think Andrew is high income.
“Heavy handed”, how true, isn’t it?
Basically you're saying, I spent less than 183 days in each country so the country "can't tax you" but
- they could still tax you if they consider your "center of life" if there
- isn't that tax evasion?
How do you move money from Canada outside from RRSP without triggering massive 50% tax?
How do you deal with your sense of belonging to one place and culture? I have seen many of your videos but this question always pops out.
Gonna do a video on Man Utd's finances?
🗣️🗣️🗣️
1:58 thats the type of place that is promoted on this channel
Is that a St Lucia flag on his lapel? 🤔
Yes, it is.
love from 🇮🇳
In a previous video you mentioned that citizen by descent would cost anywhere between $5000 and $15,000 through your company. I spoke to one of your representatives and they said no. They said it’s $15,000 plus an extra $5000 for my 16-year-old son.. can you confirm? Thank you.😊
Wow, I thought it would be much more expensive. That's a pretty good deal .
That is a good price, but when Andrew Henderson says it’s between $5000 and $15,000 it makes you think
If the Sales team said it, then it's true. Please send us the link of where a lower price was mentioned so it will be removed or noted.
I will track down the actual video. It may take some time.
@@nomadcapitalist The OP said you said $5k to $15k ... If your sales team said $15k ..then it's still within that range albeit at the maximum
All of this seems to dependent on being self employed, so a freelancer, or having a business.
Then you know what you need to do...do it and stop complaining.
Being a freelancer is easier than ever these days. Get some skills that you like and is valuable and keep trying for a while. Its gonna take time.
Do i have to move out of canada to use your strategies to pay less tax? Or can I open a corporation in a tax friendly country and make my current company a subsidiary of that company to pay less taxes?
I think the US tries to tax all business activities it can ,so if your company does business in it they want you to pay. The type of business seems to determine many taxes.
The taxman has given this plenty of thought and in most - although not all - developed countries the average entrepreneur can't just incorporate offshore and save taxes without leaving. That's anecdotal and not tax advice; feel free to contact help@nomadcapitalist.com for assistance.
@@nomadcapitalist I plan to contact you in a few years once my business is big enough to warrant it. Thank you.
Hi Andrew, is there any possibility you could assemble a service for the common people? E.g . move from West to … (whichever country has an affordable medical infrastructure and allows land ownership to foreigners). Pitching 7-8 digit people on TH-cam I find misplaced and disrespectful to the common people who are the main audience of this platform. Thank you
While our focus is primarily on providing services for high-net-worth individuals, we do aim to offer information and guidance that can be beneficial to a broader audience. You may find our recent video on the R&D channel about low-tax countries with excellent healthcare informative for your situation: th-cam.com/video/yPf1chrjECM/w-d-xo.html
So after you have taken from the system, you decide to not pay back?
Go back to sleep
@@mmilanovic Not all of us sold our soul and country.
@@SamiNamiF you, when they put their first in you A, its gonna be too late to regret
Is foreign earned income exclusion still active for US citizens?
Yes, you have to file the proper forms though
There are multiple tax structures for USA citizens to pay zero tax -but i think you never learned this
@stevenpendragon8624 can you make a video about it?
Is it legal? Proably. is it moral? you respond
Keeping money out of the hands of politicians is the most moral thing people can do. If YOU want your money to go directly to poor people, YOU go use a charity. Don't try to impose your morality on others.
@@SAL-fs1mr I didn't try to impose anything, i just wanted to explain him to try to explain his philosophy
No, it is not moral. Because tax funds our society. If one person does not pay taxes, another person has to pay more.
Most leftists (the ones who love to tax the rich so much) use moral relativism so I'm going with that. If you feel like it's right, then it's right LOL!!
@@dagda3000 Except in this case, one person doesn't live there anymore and doesn't use services.
Hey I any country that would send me a Christmas card from the government, is where I need to be. Get me out of Australia!
ST LUCIAAAA
Retired 22 years ago at 45 funded by slow flipping my house. Working on house #4 now. The first $250k of capital gain is tax free. So no need to even file Federal or state income tax. Qualified for free healthcare (Medicaid) and free smartphone (LifeLine).
Flipping homes is a great way to make federal tax free income every two years.
Great job!
House number 4? Right on !
👍🏽👍🏽
You can’t give up us citizenship. You can not claim it if you want (have to be dual citizenship with another country) but can’t give it up.
If you are really smart person tell how poor people can make money milloners have already known the way because they are milloners already.
We've talked about it: th-cam.com/video/De1QecSwlX4/w-d-xo.html and th-cam.com/video/Ofr1SWnadsU/w-d-xo.html and th-cam.com/video/v-iiDvGKDXU/w-d-xo.html and others
Greece????? Not tax friendly!
Yes, it is.
Until 2026 .
What and why until 2026? Interested.
Never sell your assets, no tax 😂
Not true. Denmark has already implemented taxes on notional increases in the value of some shares and ETFs and these can be as high as 43% a year. Plus places like Norway also tax you on notional value of all financial assets when you leave as an exit tax.
@@InvestgoldUK it doesn't matter what country has taxes on capital gains tax. If you DON'T SELL YOUR ASSETS they can't charge you tax 💯
You get a loan from the Bank it's called good debt! Inform yourself
My advice to everyone is this : if you want to grow big this year especially in your finances. Be willing to make investments. Saving is great but investing puts you on a pedestal where you wouldnt have to worry about savings as you do now. With Samantha Jack, my portolio is doing really great and im proud of the decisions i made last year.
Drug dealer's pay no tax either
The extremely rich pay 0 tax... the government looks after the poor... basically it is us middle class that has to pay for the world?
Haha " the guvernament takes care of the ppl" hahaha 😂😂 High wealth individuals usually create the majority of the companies that create the market economy (except in socialist/comunist regime). They create /employ ppl, let's assume they hire 1 individual and pay 1k euro for him. That means the guvernament gets VAT + ~40% tax 400 euro + the employee that has 600 euro to reintroduce into the economy. He the owner wants to pay as low as possible 1) corporate tax and 2) divident tax 😆 lol I would have assumed this chanel does not attract uneducated ppl I stad corrected plebs everywhere
Nope. The top 1% pay 46% of income tax in the USA.
@@GrahamWinship hehe the government taxes what they let them tax. That is the whole point of paying huge money to tax advisors. (like this guy)
iM MOVING TO THE DOMINCIAN REPUBLIC
You would love Riu Palace Macao. That is a lovely place as a base to start property hunting.
Worst country on earth ! The ghetto. The local gangs will steal everything you have. That's the dumbest and most criminal place I have visited. Never again. I am boycotting it now.
but but but what about all the starving babies that need your money to live?
🤣🤣🤣🤣
As the tax lovers would say, "THINK OF THE CHILDREN!!" haha!
That's right! We ARE ALL GUILTY!!!
Don't forget the roads and schools...
Canada sux
The new American dream is to get away from America 🤦
Taxation is not theft if you are allowed to leave, but you stay anyway.
Smart comment👍
That said, the US does not simply let you leave. You are on the hook for years thereafter.
Taxation is never theft. It is an integral part of our society.
@@dagda3000 Um. No. That's just kissing the boot.
Millions of people can't afford to leave, so your argument only has merit for those of us who have enough wealth, skills, connections etc to get out.
It's easy. be poor in a socialist country
Exempt ?????