So because of this guy I moved to KL, and now I’m here , I wish he stop telling others because this city is too fantastic . Actually the country is too fantastic. And I just don’t want too many people to ruin it
They won’t ruin it it’s simple if u get more of the kinda foreigners to learn about there culture traditions and beliefs they will respect Malaysia and won’t be living like a foreigner that will be living like a local
The good news is that Malaysians know what is best for their country - letting high net worth individuals and value creators in is a net positive. Malaysians won’t let in riff raff
Great stuff, here's a friendly video editing tip; create a spaces for people to think, especially when changing context or topic - this allows for people to summarize your message before being introduced to something different. Yes, internet videos are "faster" than linear media; but there's still a need to emphasize context switching, think of it as a paragraph in a text. Again, good stuff.
This is an incredibly complex topic. Domiciling is easy you basically agree to fulfill certain regulatory requirements. Redomiciling is very expensive and risky for certain changes. Staffing companies are fairly easy but they usually create a permanent establishment and you owe taxes based on the proportional share of revenue so you want to hire in low tax places. Your goal is generally to make as much of your business royalty income (Apple has an IP company that contracts with an engineering division to buy the design patent. The sales office leases the IP and sends it to manufacturing. The manufacturing business is barely profitable.) You also need a business purpose other than just lowering taxes.
been watching your content for a while now. Always something new to learn and always enjoy the way you present the material. Keep it up, Mr. Hammond - we need this info!
It depends on the jurisdictions involved. Even within the US you can't relocate your business to another state in all cases. Most states allow you to basically pass a resolution with the shareholders and just move to another state. But sometimes you have to completely dissolve one corporation and sell its assets to another corporation. Many of the traditional tax havens have provisions to allow you to re-shore your business. This is the best option as usually the business assets have already been taxed and since the company is continuing you will only pay an exit tax if your jurisdiction has specifically written an exit tax. You will then have to pay an exit tax as a shareholder. But get the reshoring wrong and you can forfeit your IP since there will no longer be someone who can legally license the IP.
REAL ESTATE - that's my main business. Buy-hold-rent or flip. I'm American but looking to purchase in Mexico, Cambodia, possibly other countries. What structure would you recommend? Thank you.
Also, I live in Spain which is a tax hellhole, and I'd have to find a CEO living in Estonia so CFC rules don't affect me. Maybe you can make a video about this?
Woa! CFC is usually ownership and economic ties based. Hiring a paper CEO does not mean you have adequate ties to Estonia to avoid CFC. And Spain may tax you if the work is actually done there.
@@coyoteattention That's why I wouldn't have a paper CEO, I want a legitimate functioning business with real employees. And that's a problem, where do you find trustworthy people for that role, and wanting to live in Estonia, which AFAIK is very cold most of the year?
You have to think holistically. You must consider VAT, corporate income, personal income, and payroll taxes. What percent of the business income goes to salaries? Ideally you live a trifecta so you personally don't trigger income tax and get a work visa in Macau (any income earned is taxed so you only have to spend like one day a year to answer where you pay taxes.) Incorporate someplace like Ireland.
If you have trademarks and might possibly get sued for using your trademarks where you are not supposed to, which entity should own the trademark, the company that does business or the holding company?
Can you do a videos on the different income roadblocks and options Specifically Royalties like you mentioned. Music, book, video Royalties ect. Great video!!
I see all these setups and they would be very good if they were working in general, but how can a structure work if there are substance requirements? "effective management and control" will be somewhere else. could you make a video about this? the theory is nice but in practice, there are 1000 laws to implement, and be careful about all of these CFC rules.
How is moving your HQ overseas changing anything though? If you are still the owner of that company, the US still wants to steal your money via taxes...what am I missing here? I know that if you live outside of US for 300+ days a year then anything over $105,000 isn't taxed (roughly), but anything after that is still taxed no? How would you be taking out profits from this structure without the US taxing them? Thanks in advanced for any clarification you can offer here.
What if the country taxes the business because business is being conducted in that country itself, even though you have registered and the headquarters* are offshore
That is why you isolate and have a business rather than being a one man show. I'm a tutor so I can't just charge clients $100/hr and hire talent for $20/hr. Sure I can deduct some things like marketing, but the tax authorities will assume that most of the client rate is attributable to the staffing company with the tutors.
You got the point where these structures sound good on paper/video but will expose you to a huge tax risk of you dont have enough substance in the country where you want to be taxed. Tax authorities will analyze exactly these set-ups and when they identify that the parent entity is located in a tax haven then they will assess very closely how you attribute revenues and profits. Maybe that small mark up should not be 3% but maybe rather 15%...
Wish he would mention the personal & business Trust structure for US citizens. If set up properly, along with Real Estate, you pay almost nothing in taxes.
Thankyou for all the info Andrew, thanks to you planning to leave Australia for a wider scope, a triumverate of great places, can I keep a property in the country for returning to visit family under a trust company and just ensure respected visa travel from my new countries? Thankyou 🙂
I already have multiple citizenships and do international trade, I’d love nomad capital advice on making things work better but I’m not a millionaire yet 😢 ( but I know people who know people if that helps ) For my multiple citizenships I want to know the combined value and where is the best place to base myself for international trade. So far I’m thinking UAE but consulting advice be nice
This is really great. I read your book over a couple of days because it was (and is) so interesting, and really opened up my mind to the possibilities. I would like to work with you in the future, so I just want to know: do you also work with people in high tax countries within Europe, or just Americans?
We're glad you liked the book! We work with high-net-worth individuals from all over the world, so you are more than welcome to contact us through this link: nomadcapitalist.com/apply/
What if you buy an e-commerce biz that is based in Mexico and Spain, but you live in the USA? Also have LLC in USA. Where to go live and how to do the taxes?
What's your status in the US? Citizens will need to renounce for the best options while permanent residents may need to give up permanent residency. If you want to stay in the US, you will need to move yourself to Puerto Rico.
Always. Anywhere in the world. Only way to get out of the US tax system is to renounce your citizenship. This is why Nomad Capitalist has so much on second (and third, and fourth …) citizenship paths. And the US FACTA law requires oversees banks to report banking details of US citizens to the IRS.
@@jeffrey4459 You are mistaken. If the business is incorporated overseas and you are careful not to actually manage the company from the US and you do not do business in the US then the business itself does not need to file US tax returns. However, if you are a US citizen or permanent resident you will have to file tax returns. If you own the business fully you will still have to comply with FATCA and FBAR since you will be the beneficial owner, but all of this will be personal tax forms not business tax forms.
@@nathanjenkins8731 As the original question is stated, he is an American citizen. So your saying that if he’s careful in how he manages it, then he doesn’t have to report it is entirely incorrect. If an American citizen owns an overseas business, that business and all banking activities must be reported to the IRS. Depending on whether it’s an Association Taxable As A Corporation, Partnership or Disregarded Entity will determine HOW it should be reported (via form 8832). If people could avoid the US tax system so easily, there would be no need to renounce citizenship. But the reality is, as an American citizen, if you do business anywhere in the world, you are required by law to report those activities to the IRS and UAE banks are FACTA-compliant. Ask a reputable accountant and the IRS directly.
I think we are not understanding each other. Your point seems to be that as a US citizen you always have complex reporting requirements. My point is that businesses are separate legal persons so they may have different reporting requirements than a natural person.
@@coyoteattention SOME businesses are separate entities for tax purposes, that is correct. Others, like LLC’s and their equivalent overseas, are pass-through entities. Regardless, to open an oversees business and bank account, you need to provide your passport. If you’re a US citizen, your details will automatically be provided to the IRS by the UAE and their banking institutions as they are FACTA-compliant. So whether Ashley has to file a separate business tax return is entirely dependent upon the type of entity created. If it’s a pass-through entity, like a US LLC, then a separate tax return isn’t required. But to my point, if an American citizen has a foreign company, that absolutely has to be reported to the IRS. There is no wiggle room to that.
Isn't this covered in any Accounting degree at Uni? When I asked my Accountant about moving o'seas and minimising tax, he told me to do XYZ and said many companies are doing it the way he suggested. Mind you I need to go see him again as a reminder since I'm getting closer to moving. Company structure and o'seas taxation, from what I know, is covered in a Degree in Accounting.....not a degree in Finance or Commerce or Economics, yet definitely Accounting.
@@elysiumboats Maybe you are right yet my Accountant knew about taxes in Oz and how to minimise them. Maybe he wouldn't know all the ins and out re other countries yet he knows about minimising taxes here, locally :-)
It more covered in accounting but school gives you the base , later you can do some extra classes . You need to check conventions between countries as well . Yoy can look for tax advisers also .
How d9 you go about qualifying people and rheir businesses that have been running to assure they are not trying to escape pay money oweed to people? How do you stop scammers sucking money out if elderly, vulnerability, etc???
All professionals must abide by professional ethics and use their professional judgement. Even a thorough audit won't catch a contract that is kept off the books, so there is no way to guarantee someone isn't trying to dodge creditors. But most people don't start a 7 figure business overnight so there will either be tax returns showing salaries, inheritances, etc. You just search for public reviews of the company. As far as scammer, people have different ideas of what constitutes a scam. You can take 2% of someone's estate every year as a trustee, but this is perfectly legal business practice. Again a scammer likely won't have a long business history.
Nomad capitalist generally does not support zero tax. Taxes in the US can total over 60% without planning, yet something like 25% of GDP would cover the federal budget. And no country will allow you to escape all forms of tax. There will always be the barber shops that have to pay taxes.
@@nathanjenkins8731 Ok ! But the main Idea o promoting idea is to avoid pay taxes! My point is that is the right way to go everywhere in the world how goberment or services gonna be pay. The utopian idea of the no pay taxes because " free market" work better is BS. Any or all Comercial activities even more in Big Corporations are Planning ( Even the institution created defend that sysmen/ Army is the most Socialist of all- Health care , dental, vision, Vacation pay etc for all it members/ That why poor people enroll or enlist and never rich of high middle class. ! They consider them looser or their Security Guards!
@@f-22raptor18 they are no not par with other world wide jurisdictions.. no usual attributes.. they are not companies, just statements, not even recognized in the uae properly..
Nomad Capitalist offers a TON of free advice. It is a business choice. If you can afford the $25k retainer you may be able to convince them to work with you. Either dig through your family tree or show $2k/mo income and get a residence permit in South America. You can hire accountants, immigration lawyers, and business lawyers in your chosen pair of countries but you will still be spending thousands of dollars to do so.
At 51 seconds into this video you say “Let’s say you live in the United States where I live…” and yet in countless other of your videos, you have made that statement that you gave up your US citizenship and that you live outside the United States. So which is it? If you truly gave up your US citizenship, you’re not “living in the United States,“ certainly not legally, unless you have a green card, which basically would vitiate the reason for giving up US citizenship in the first place. I suppose you could have entered the United States on a non-immigrant visa like an L1, but if after such entry, you remained in the United States to the point that you “lived in the United States“ that would almost certainly completely subject you to at least US federal income taxation (of course the standard that subjects you to US federal transfer taxation is completely different). I don’t care where you live, or of what state you are a national (in this context, the word state of course, means country), but you just need to be honest and not make a definitive statement on one show that is in complete contravention to many statements you have made in other shows.
So because of this guy I moved to KL, and now I’m here , I wish he stop telling others because this city is too fantastic . Actually the country is too fantastic. And I just don’t want too many people to ruin it
What you mean by KL
@@htcarsonjr Kuala Lampur I assume
They won’t ruin it it’s simple if u get more of the kinda foreigners to learn about there culture traditions and beliefs they will respect Malaysia and won’t be living like a foreigner that will be living like a local
The good news is that Malaysians know what is best for their country - letting high net worth individuals and value creators in is a net positive. Malaysians won’t let in riff raff
@@JonnyMReck neither do Indonesia these 2 both are prize positions of south east Asia
Love Nomad. I have been watching the channel for some time. The main thing is the message and Andrew certainly gets the message out.
This guy would be great to hire if you wanted to move and had plenty of money to build a business. I am just to old to go anywhere now.
We're still glad to have you. You may consider Nomad Capitalist Live: www.nomadcapitalist.com/live.
Great stuff, here's a friendly video editing tip; create a spaces for people to think, especially when changing context or topic - this allows for people to summarize your message before being introduced to something different. Yes, internet videos are "faster" than linear media; but there's still a need to emphasize context switching, think of it as a paragraph in a text. Again, good stuff.
Thanks for the idea!
As a young entrepreneur this is very valuable information to envision what the future may look like as I scale and grow
Would like to hear about domiciling a company vs creating a holding company for management/IP/Royalty fees etc.
Yes, that would be a great topic!
This is an incredibly complex topic. Domiciling is easy you basically agree to fulfill certain regulatory requirements. Redomiciling is very expensive and risky for certain changes. Staffing companies are fairly easy but they usually create a permanent establishment and you owe taxes based on the proportional share of revenue so you want to hire in low tax places. Your goal is generally to make as much of your business royalty income (Apple has an IP company that contracts with an engineering division to buy the design patent. The sales office leases the IP and sends it to manufacturing. The manufacturing business is barely profitable.) You also need a business purpose other than just lowering taxes.
Wow, this is exactly the video I had requested a couple days ago! Thank you!
been watching your content for a while now. Always something new to learn and always enjoy the way you present the material. Keep it up, Mr. Hammond - we need this info!
Extremely intelligent guy, I was impressed with the way he tweeted without knowing who he was.
Thank you man. It's always a pleasure to watch your videos.
Yes, pls do a video on the process of moving everything
It depends on the jurisdictions involved. Even within the US you can't relocate your business to another state in all cases. Most states allow you to basically pass a resolution with the shareholders and just move to another state. But sometimes you have to completely dissolve one corporation and sell its assets to another corporation. Many of the traditional tax havens have provisions to allow you to re-shore your business. This is the best option as usually the business assets have already been taxed and since the company is continuing you will only pay an exit tax if your jurisdiction has specifically written an exit tax. You will then have to pay an exit tax as a shareholder. But get the reshoring wrong and you can forfeit your IP since there will no longer be someone who can legally license the IP.
This is perfect Andrew, very helpful.
REAL ESTATE - that's my main business. Buy-hold-rent or flip. I'm American but looking to purchase in Mexico, Cambodia, possibly other countries. What structure would you recommend? Thank you.
One of the most informative videos ever!
Glad you think so!
Were you suggesting Stripe or have you better alternative suggestions?
This channel has to be one of tbe top 10 channels on TH-cam. Awesome content.
Thank you so much for your kind words!
Can you do a video about setting up a non profit in other countries? Tax implications, using the non profit structure to your advantage, etc.
This video was GrEat!!! More like this please with tactical ideas
If I just want to grow my business and don't care about dividends, what do you think of Estonia?
Also, I live in Spain which is a tax hellhole, and I'd have to find a CEO living in Estonia so CFC rules don't affect me. Maybe you can make a video about this?
Woa! CFC is usually ownership and economic ties based. Hiring a paper CEO does not mean you have adequate ties to Estonia to avoid CFC. And Spain may tax you if the work is actually done there.
@@coyoteattention That's why I wouldn't have a paper CEO, I want a legitimate functioning business with real employees.
And that's a problem, where do you find trustworthy people for that role, and wanting to live in Estonia, which AFAIK is very cold most of the year?
I was wondering the same thing. In the end, did you open a company in the US or Estonia (I'm also in Spain)?
For individual consultant set up as a "C" corp, which countries offers the best combination of low corp & personal tax rates?
You have to think holistically. You must consider VAT, corporate income, personal income, and payroll taxes. What percent of the business income goes to salaries? Ideally you live a trifecta so you personally don't trigger income tax and get a work visa in Macau (any income earned is taxed so you only have to spend like one day a year to answer where you pay taxes.) Incorporate someplace like Ireland.
This was an informative presentation.
Whiteboard shrinkflation is no joke
Seems his jacket shrunk too.
U haven't seen the change is coming and it applies yo entire world
Holding company game is your best friend here!
What he’s missing is the new ATAD 3 Unshell regulation which will go after shell companies in EU
Amazing Andrew 💎
If you have trademarks and might possibly get sued for using your trademarks where you are not supposed to, which entity should own the trademark, the company that does business or the holding company?
Nomad Capitalist are never disappoint!
Do I still pay an LLC pass through tax to the IRS if I’m incorporated in UAE free zone as a US citizen?
We'd be delighted to help you with this. Email help@nomadcapitalist.com and team will speak with you.
Can you do a videos on the different income roadblocks and options Specifically Royalties like you mentioned. Music, book, video Royalties ect. Great video!!
Thank you. Probably a better question for personal assistance rather than a video for a broad audience. Feel free to email help@nomadcapitalist.com.
Outstanding information
I see all these setups and they would be very good if they were working in general, but how can a structure work if there are substance requirements? "effective management and control" will be somewhere else.
could you make a video about this? the theory is nice but in practice, there are 1000 laws to implement, and be careful about all of these CFC rules.
How is moving your HQ overseas changing anything though? If you are still the owner of that company, the US still wants to steal your money via taxes...what am I missing here? I know that if you live outside of US for 300+ days a year then anything over $105,000 isn't taxed (roughly), but anything after that is still taxed no? How would you be taking out profits from this structure without the US taxing them? Thanks in advanced for any clarification you can offer here.
He renounced his US citizenship along time ago.
What if the country taxes the business because business is being conducted in that country itself, even though you have registered and the headquarters* are offshore
That is why you isolate and have a business rather than being a one man show. I'm a tutor so I can't just charge clients $100/hr and hire talent for $20/hr. Sure I can deduct some things like marketing, but the tax authorities will assume that most of the client rate is attributable to the staffing company with the tutors.
You got the point where these structures sound good on paper/video but will expose you to a huge tax risk of you dont have enough substance in the country where you want to be taxed.
Tax authorities will analyze exactly these set-ups and when they identify that the parent entity is located in a tax haven then they will assess very closely how you attribute revenues and profits. Maybe that small mark up should not be 3% but maybe rather 15%...
I really like this video format. Great video
Awesome, thank you!
Thanx for your videos..can u take a video about how to open a company in isle of Man ? With detailed fee s of needs? Or another tax heavens?
Wish he would mention the personal & business Trust structure for US citizens.
If set up properly, along with Real Estate, you pay almost nothing in taxes.
Thankyou for all the info Andrew, thanks to you planning to leave Australia for a wider scope, a triumverate of great places, can I keep a property in the country for returning to visit family under a trust company and just ensure respected visa travel from my new countries? Thankyou 🙂
how do this apply to people who do business with physical products
There are many variables. We may cover this in the future, or you can email help@nomadcapitalist.com for a personalized approach.
I already have multiple citizenships and do international trade, I’d love nomad capital advice on making things work better but I’m not a millionaire yet 😢 ( but I know people who know people if that helps )
For my multiple citizenships I want to know the combined value and where is the best place to base myself for international trade. So far I’m thinking UAE but consulting advice be nice
Patrick Bet David style 😂
This is really great. I read your book over a couple of days because it was (and is) so interesting, and really opened up my mind to the possibilities.
I would like to work with you in the future, so I just want to know: do you also work with people in high tax countries within Europe, or just Americans?
We're glad you liked the book! We work with high-net-worth individuals from all over the world, so you are more than welcome to contact us through this link: nomadcapitalist.com/apply/
@@nomadcapitalist Thanks!
great info in 1 clip
Thanks for the explanation Andrew. i assume this setup would help against asset protection from a divorce
Hey Andrew, Can you suggest a few countries where we can launch Crypto currency?
Andrew did a lot of batch recordings in one day.
How do I know?
His outfit! The funny collar/tie & jacket
We generally batch about 20 videos in one day per month. This shoot was smaller.
Heyyyy, I thought his outfit was cool (:
What about Tbilisi Free Zone Georgia?
It’s not complicated. I moved to the Cayman Islands from Canada 57 years ago. Just come down. You will figure it out. Say hi when you get here.
Thanks for all the great tips, I might need your services in the near future! 👍🏼
We’ll be happy to serve you!
How do you move your company out?
What if you buy an e-commerce biz that is based in Mexico and Spain, but you live in the USA? Also have LLC in USA. Where to go live and how to do the taxes?
What's your status in the US? Citizens will need to renounce for the best options while permanent residents may need to give up permanent residency. If you want to stay in the US, you will need to move yourself to Puerto Rico.
Absolutely don’t want to stay in USA.
Transfer wise is now wise sir….
If the company HQ is in UAE - as an American citizen, do you have to file a business tax return with the IRS?
Always. Anywhere in the world. Only way to get out of the US tax system is to renounce your citizenship. This is why Nomad Capitalist has so much on second (and third, and fourth …) citizenship paths. And the US FACTA law requires oversees banks to report banking details of US citizens to the IRS.
@@jeffrey4459 You are mistaken. If the business is incorporated overseas and you are careful not to actually manage the company from the US and you do not do business in the US then the business itself does not need to file US tax returns. However, if you are a US citizen or permanent resident you will have to file tax returns. If you own the business fully you will still have to comply with FATCA and FBAR since you will be the beneficial owner, but all of this will be personal tax forms not business tax forms.
@@nathanjenkins8731 As the original question is stated, he is an American citizen. So your saying that if he’s careful in how he manages it, then he doesn’t have to report it is entirely incorrect. If an American citizen owns an overseas business, that business and all banking activities must be reported to the IRS. Depending on whether it’s an Association Taxable As A Corporation, Partnership or Disregarded Entity will determine HOW it should be reported (via form 8832). If people could avoid the US tax system so easily, there would be no need to renounce citizenship. But the reality is, as an American citizen, if you do business anywhere in the world, you are required by law to report those activities to the IRS and UAE banks are FACTA-compliant. Ask a reputable accountant and the IRS directly.
I think we are not understanding each other. Your point seems to be that as a US citizen you always have complex reporting requirements. My point is that businesses are separate legal persons so they may have different reporting requirements than a natural person.
@@coyoteattention SOME businesses are separate entities for tax purposes, that is correct. Others, like LLC’s and their equivalent overseas, are pass-through entities. Regardless, to open an oversees business and bank account, you need to provide your passport. If you’re a US citizen, your details will automatically be provided to the IRS by the UAE and their banking institutions as they are FACTA-compliant. So whether Ashley has to file a separate business tax return is entirely dependent upon the type of entity created. If it’s a pass-through entity, like a US LLC, then a separate tax return isn’t required. But to my point, if an American citizen has a foreign company, that absolutely has to be reported to the IRS. There is no wiggle room to that.
Good info Andrew
I am considering moving my business from Berlin to Singapore? Share your thoughts nomad capitalists!
Isn't this covered in any Accounting degree at Uni? When I asked my Accountant about moving o'seas and minimising tax, he told me to do XYZ and said many companies are doing it the way he suggested. Mind you I need to go see him again as a reminder since I'm getting closer to moving. Company structure and o'seas taxation, from what I know, is covered in a Degree in Accounting.....not a degree in Finance or Commerce or Economics, yet definitely Accounting.
Lol most definitely not covered by ANY 4 year degree from any university on earth.
@@elysiumboats Maybe you are right yet my Accountant knew about taxes in Oz and how to minimise them. Maybe he wouldn't know all the ins and out re other countries yet he knows about minimising taxes here, locally :-)
@PatRisberg Definitely know about the school of hard knocks. 🙂
It more covered in accounting but school gives you the base , later you can do some extra classes . You need to check conventions between countries as well . Yoy can look for tax advisers also .
my guy i like this video. but for gods sake get a better whiteboard. bigger whiteboard
How can i have your details?
You can contact us through this link: nomadcapitalist.com/apply/
💎
Absolutely Do not put money in a Bahamas bank …specifically CIBC
Why
How about Labuan? Any opinion on that?
That suit jacket is not the most flattering.
How d9 you go about qualifying people and rheir businesses that have been running to assure they are not trying to escape pay money oweed to people?
How do you stop scammers sucking money out if elderly, vulnerability, etc???
All professionals must abide by professional ethics and use their professional judgement. Even a thorough audit won't catch a contract that is kept off the books, so there is no way to guarantee someone isn't trying to dodge creditors. But most people don't start a 7 figure business overnight so there will either be tax returns showing salaries, inheritances, etc. You just search for public reviews of the company. As far as scammer, people have different ideas of what constitutes a scam. You can take 2% of someone's estate every year as a trustee, but this is perfectly legal business practice. Again a scammer likely won't have a long business history.
Must i live there? 😭
👍!!
So minimum payment worldwide! To avoid tax evation ( people taalk a lot about inequiality) that put gasoline to Eniquiality
So !! If everyone evade taxes ( pay $0 ) where services will come from? -
What services do you get that they don’t just print money for lol, taxes are just to enslave you
From "concerned citizens" like you.
Nomad capitalist generally does not support zero tax. Taxes in the US can total over 60% without planning, yet something like 25% of GDP would cover the federal budget. And no country will allow you to escape all forms of tax. There will always be the barber shops that have to pay taxes.
@@nathanjenkins8731 Ok ! But the main Idea o promoting idea is to avoid pay taxes! My point is that is the right way to go everywhere in the world how goberment or services gonna be pay. The utopian idea of the no pay taxes because " free market" work better is BS. Any or all Comercial activities even more in Big Corporations are Planning ( Even the institution created defend that sysmen/ Army is the most Socialist of all- Health care , dental, vision, Vacation pay etc for all it members/ That why poor people enroll or enlist and never rich of high middle class. ! They consider them looser or their Security Guards!
all big businesses do this. all
Is an American business beneficial to Canadian Citizens or no?
Saying uae free zone are actually companies is such a sham. They are not. No number, no register. And no body tells you before you pay them
Sorry, what was it? Didn’t understand
@@f-22raptor18 they are no not par with other world wide jurisdictions.. no usual attributes.. they are not companies, just statements, not even recognized in the uae properly..
I wish you would work with the person building wealth vs only ones with it already.
Nomad Capitalist offers a TON of free advice. It is a business choice. If you can afford the $25k retainer you may be able to convince them to work with you. Either dig through your family tree or show $2k/mo income and get a residence permit in South America. You can hire accountants, immigration lawyers, and business lawyers in your chosen pair of countries but you will still be spending thousands of dollars to do so.
What’s the point? You’d spend a ton of money on setting everything up that wouldn’t be justified by your income.
We would love to have you at Nomad Capitalist Live, where everyone is welcome. www.nomadcapitalist.com/live/
Is it worth a life of barbecued cockroach, to save on tax?
Get a passport and travel a bit. In all mentioned countries it's better then all high tax countries
Where the fuck are they eating cockroaches that he mentioned
Thank you like at school lol very good
At 51 seconds into this video you say “Let’s say you live in the United States where I live…” and yet in countless other of your videos, you have made that statement that you gave up your US citizenship and that you live outside the United States. So which is it? If you truly gave up your US citizenship, you’re not “living in the United States,“ certainly not legally, unless you have a green card, which basically would vitiate the reason for giving up US citizenship in the first place. I suppose you could have entered the United States on a non-immigrant visa like an L1, but if after such entry, you remained in the United States to the point that you “lived in the United States“ that would almost certainly completely subject you to at least US federal income taxation (of course the standard that subjects you to US federal transfer taxation is completely different). I don’t care where you live, or of what state you are a national (in this context, the word state of course, means country), but you just need to be honest and not make a definitive statement on one show that is in complete contravention to many statements you have made in other shows.
Except he says “where I lived” … past tense.
That's very kind of you; thank you, Yennie.