Bravo Andrew for calling out the hypocrisy of the crooks who 'ask' for higher taxes in USA. We love your straight talk and great information you share to help people looking ways to keep their freedom. God bless you 🙏
Best user question ever. Also I've done well over 1000 nights in hotels but nowhere near getting tired of it (most were in China/Thailand/Vietnam... a completely different experience than the last month I just spent in Europe).
I’ve been on the 1% tax tier in Georgia all year, just don’t expect that to be the tax rate to start with, you have to qualify and get the right status. It’s easy to do, though. There’s a video on this channel about it too, but it doesn’t explain the procedure, you have to get advice about it.
Really like Andrew’s idea of bouncing around from place to place to get a feel for different places around the world. So important to do this rather than just targeting one place because of the hype you may have heard or read about. If after studiously surveying a country you determine that it feels right then it's probably right. If it feels wrong it's probably wrong. Basically, do your homework online, but more important put your boots on the ground and visit countries, not so much as a tourist but as an a “business opportunity investigator.” That seems like the only way to sense the vibe of a new location.
He's bouncing around from place to place because he has to. If he doesn't leave and he stays longer than 183 days, he will be considered a permanent resident and liable for taxes. Sounds a bit tiring, having to pack everything up and relocate every month. Granted that's Andrew's preference and that's great for him, but most people will get exhausted moving every month. I also understand that most countries will allow up to 90 days and some even longer, but still.
@@kimpeater1 you generally don't pack everything up. You have residence in multiple countries. you just take a suitcase and everything else is waiting for you in new places since you last left. And boarding a flight once or twice in 6 months is not that tiring to be honest.
@@kimpeater1 you're making little to no sense. If it's 183 days to be a tax resident then he doesn't need to move every month ... There are roughly 6 months in 183 days if you use your brain 🧠 And who would "pack everything up"? That's absurd. This channel is for rich people. You just tell the maid you're gone for 6 months and walk out of the front door with a suitcase of your favourite things. When you arrive at your second home you have stuff there and you hand your bags to the maid at the second house to unpack. Now if packing a suitcase to travel seems "all too much" for you... Then you should for sure stay at home for the rest of your life.
@@rubensnogueira5838 I thought he said that he only spends 4 months in Malaysia and only pays sales tax there. I think the idea here is not to be a tax resident of anywhere.
@@ianpk5234 he is no tax nomad and advocates against it. He is tax resident in Malaysia due to its territorial tax system and could spend his life there, but he decided to have multiple homes and keep travelling around the world every year.
I think it’s Colombia as he mentions that and gives a tour of the place he bought in other video. Ecuador doesn’t tax outside sources of income either which is where I live. Less then 1% tax on over 200k income thanks to feie for wife and I.
It's $25,000 to talk to them, and this video reveals he is not very good at tax structures. I've been running businesses for 23 years without paying a dime in taxes. I pay my remote workers by wire and let them deal with their own tax issues. The $500 profits from opening a BVI company isn't enough for Greedy Andrew. He will have you renounce your citizenship so he can bleed you for 10's of thousands.
The fact that you pay any tax at all is a crime. You make all these videos about reducing taxes and then you go and pay actual taxes, WTF!?!!?! I havent paid a cent in income tax or corporate tax in 20 years and I'll tell you for free (unlike Andrew who wants $25,000 to answer any questions). 1) British Virgin Islands (BVI) IBC. No tax. No annual reports. Nothing. 2) corporate bank account anywhere other than BVI. 3) personal bank account in Singapore. 4) live in a country that doesnt tax your global income, there are literally dozens to choose from. I choose Thailand. End of story. Zero taxes. Anyone reading this owes me a beer.
If you think taxes are high in US, imagine your neighbours up north. It’s crazy how much Canadians pay in federal and provincial taxes. Canadians can literally go anywhere and pay less taxes…i wish i had the 7-8 figures in wealth :)
The big key point is that Canadians can literally go anywhere else and pay less taxes. Americans are stuck paying high taxes no matter where they go -- and doubly taxed if there's no tax treaty with the other country.
Yes. I'm finally moving out. It's infuriating when the non-transparent Clinton Foundation charity gets over 20 million dollars while people here can't make a living wage. That's a quasi-socialist country for ya... soon-to-be-totalitarian.
@@manaflask8826 oh don’t worry, it’s not easy in Canada too. The government makes it difficult for Canadians to just leave and avoid paying taxes abroad. You literally need to cut all ties: close all bank accounts, sell your home and cancel your healthcare card…
@@BattousaiZ My household income is about 100k Canadian. Canada is barreling toward a fullout communist regime, and I'm looking for a plan B. However, according to wealth simple tax calculator, if my wife and I make 60k capital gains, and 60k in dividends (120K total). We end up paying under $900 in taxes... Nevermind child deductions and TFSA earnings! To me that still seems quite reasonable. Granted at this point i still have to earn my income through self-employment, so my tax burden is very high... if I lived abroad, it would be quite reasonable.
Do you have to renounce US citizenship in order to get out of paying US taxes? I read that if you spend at least 330 days outside the US that you don't pay taxes on the first $112k you earn. Is that true? It wouldn't help 7 figure entrepreneurs but it would help 6 figure ones!
Based on the title of this video: “How I reduced my tax rate to 1%” I feel it’s fair to ask: where is Andrew’s country of tax residency? Especially based on the intro he says, no one will stand up and be transparent except for him. So where did he go? Is it a secret???
I think he says it, I think he mentions Dubai. And do keep in mind that he gave up his citizenship to do this 1% deal. Most of us are not comfortable giving up our American citizenship. I certainly don;t want to. I mean if that is what it takes then is it really worth the trouble?.
@@sunmand6136 you Americans are a funny bunch. You cling onto that American passport like it's some kind of benefit, and you all shake at the knees at the idea of changing citizenship. Enjoy your 35-50% taxes.
QUESTION: As a digital marketing agency owner which country should I consider to decrease my taxes. I have a plan to come back to U.S. because my extended family is here. I think this is the land of opportunity for my children.
Why not look into starting a Delaware business, and run everything through it, just make sure you don't have clients or do business in Delaware. This way you could live in the States, and pay ZERO taxes .🤔
P.s. please note: the IRS and the Internal Revenue Service are two separate corporations( franchises of much larger ones), dba 's governmental service agency's. Lol
I'm moving out of Canada tgis year, 2022, and am looking into a good off shore bank. I saw a random online article says Belize is a top contender. Swiss not so much, as they have a law allowing banks to interfere with off shore accounts. Any ideas?
Very interesting, those countries who have tax incentives are now under the spotlight of heavily tax ones and I wonder how long it will be before pressure is place on them, or even worse incentives are given to the political leaders to increase taxation to limit choices?
That's what Biden was pushing for with the minimum 15% tax. Authoritarians would rather try to destroy other places to compete, rather than make their own country better.
@@nathanhildebrandt2672 dont think so... If you move to a country why you should pay less taxes then the locals if you use the same services the country provide?
If I wanted you to pay me money, there are two ways of going about it. 1: I can wave a gun in your face and threaten to kidnap if you don't pay (Coercion). Or 2: I can provide a product that you willingly pay for, and we both are better off for the value exchange (Capitalism). Take that principle to a global scale when shopping countries. Countries are incentivized to provide the best value for the wealthy nomad, because they can't get his money by force. Every country should do their best to entice people to come live there. Communist countries suck so bad, they have to force people to live there by not allowing them to leave. When the wealthy move somewhere, they create jobs. Poor people don't create jobs. He infuses capital into the economy, and benefits the locals very much. So he benefits, and the country benefits- It's a win- win! Almost like capitalism.
You just bring real estate speculation that make life Impossible for the locals that need a house to buy or rent.. the same locals that pay for the comunal services you use here trought taxes you dont pay.. regarding the incentives from the some governments.. usually weak governments that are permissive to the lobby of construction...
He has done a video on it and a video with a guest speaker with a family also. But the idea is the same... the family would ideally be moving around.... doesn’t suit all families..
You can hire a full time teacher for your children in about 12 low cost countries for $60 per week and homeschool. Guaranteed way to ensure your children are educated how you wish
Andrew, I don’t know if you are aware of being able to watch and listen to an entire TH-cam video without clicking on it. Which also means you can’t comment on that video. You also can’t click on anything so it kills the
By all means reduce your taxes, but this is taking it to extremes. If everyone did this, the entire world would look like India or Mozambique. He gets to enjoy the civilised world and its infrastructure only because of the taxes paid by citizens of those countries. The word for people like him is freeloader.
Sound like a sheep listening to Andrew tate all the time plus Eastern European countries are strengthening regulations for naturalisation so will a lot of other EU because the countries are small. Americans stay in American u guys already ruined enough and we don’t want your mindsets here
Respect the work behind this channel, good job guys
Thank you. Glad to have you.
Bravo Andrew for calling out the hypocrisy of the crooks who 'ask' for higher taxes in USA. We love your straight talk and great information you share to help people looking ways to keep their freedom. God bless you 🙏
Andrew is so young for such a dream come true life style! I look forward to this nomadic culture soon!
Best user question ever. Also I've done well over 1000 nights in hotels but nowhere near getting tired of it (most were in China/Thailand/Vietnam... a completely different experience than the last month I just spent in Europe).
I’ve been on the 1% tax tier in Georgia all year, just don’t expect that to be the tax rate to start with, you have to qualify and get the right status. It’s easy to do, though. There’s a video on this channel about it too, but it doesn’t explain the procedure, you have to get advice about it.
@-ollie4544 I'm a freelancer.
The art of saying (talking) a lot without revealing anything !!
respect -
Phatikos in greek
Wow! I remember you now! I’ve been following you unknowingly since about 2013-14 when you still had the mailing list.
Really like Andrew’s idea of bouncing around from place to place to get a feel for different places around the world. So important to do this rather than just targeting one place because of the hype you may have heard or read about. If after studiously surveying a country you determine that it feels right then it's probably right. If it feels wrong it's probably wrong. Basically, do your homework online, but more important put your boots on the ground and visit countries, not so much as a tourist but as an a “business opportunity investigator.” That seems like the only way to sense the vibe of a new location.
👍
He's bouncing around from place to place because he has to. If he doesn't leave and he stays longer than 183 days, he will be considered a permanent resident and liable for taxes. Sounds a bit tiring, having to pack everything up and relocate every month. Granted that's Andrew's preference and that's great for him, but most people will get exhausted moving every month. I also understand that most countries will allow up to 90 days and some even longer, but still.
@@kimpeater1 you generally don't pack everything up. You have residence in multiple countries. you just take a suitcase and everything else is waiting for you in new places since you last left. And boarding a flight once or twice in 6 months is not that tiring to be honest.
@@kimpeater1 you're making little to no sense. If it's 183 days to be a tax resident then he doesn't need to move every month ... There are roughly 6 months in 183 days if you use your brain 🧠
And who would "pack everything up"? That's absurd. This channel is for rich people. You just tell the maid you're gone for 6 months and walk out of the front door with a suitcase of your favourite things. When you arrive at your second home you have stuff there and you hand your bags to the maid at the second house to unpack.
Now if packing a suitcase to travel seems "all too much" for you... Then you should for sure stay at home for the rest of your life.
New camera? Videos looking good
Yes, thank you, Joe.
@@nomadcapitalist Which camera model do you use now?
@@dna-DNA-dna like everything else with Andrew, it'll be $25,000 to get an answer.
Andrew which country are you a tax resident, you never clarified? Please tell us, very curious? And do you enjoy your choice?
Malaysia
@@rubensnogueira5838 I thought he said that he only spends 4 months in Malaysia and only pays sales tax there. I think the idea here is not to be a tax resident of anywhere.
@@ianpk5234 he is no tax nomad and advocates against it. He is tax resident in Malaysia due to its territorial tax system and could spend his life there, but he decided to have multiple homes and keep travelling around the world every year.
I think it’s Colombia as he mentions that and gives a tour of the place he bought in other video. Ecuador doesn’t tax outside sources of income either which is where I live. Less then 1% tax on over 200k income thanks to feie for wife and I.
If you have a retirement account in the US, you can use the balance of your account (via a self-directed IRA) to buy investment property in Mexico :)
Hasnt the Malaysian foreign income tax exemption now been removed?
No
Thanks for sharing such details, very interesting ❤️
Anyone know what countries don’t tax expats with income solely from other countries? Is this in his book? 9:48
I think Ecuador is like that, and the threshold for gaining residency is quite low.
Thailand is another. There are dozens. Google it.
Mexico
UK also.
Brother you are amazing thank you very much for amazing information been following you for a long time. Moving to mauritius very soon. Any advice
It's $25,000 to talk to them, and this video reveals he is not very good at tax structures.
I've been running businesses for 23 years without paying a dime in taxes. I pay my remote workers by wire and let them deal with their own tax issues.
The $500 profits from opening a BVI company isn't enough for Greedy Andrew. He will have you renounce your citizenship so he can bleed you for 10's of thousands.
The fact that you pay any tax at all is a crime. You make all these videos about reducing taxes and then you go and pay actual taxes, WTF!?!!?!
I havent paid a cent in income tax or corporate tax in 20 years and I'll tell you for free (unlike Andrew who wants $25,000 to answer any questions).
1) British Virgin Islands (BVI) IBC. No tax. No annual reports. Nothing.
2) corporate bank account anywhere other than BVI.
3) personal bank account in Singapore.
4) live in a country that doesnt tax your global income, there are literally dozens to choose from. I choose Thailand.
End of story. Zero taxes. Anyone reading this owes me a beer.
I didn't understand the part about Serbia. How do you pay 1% in Serbia?
If you think taxes are high in US, imagine your neighbours up north. It’s crazy how much Canadians pay in federal and provincial taxes. Canadians can literally go anywhere and pay less taxes…i wish i had the 7-8 figures in wealth :)
The big key point is that Canadians can literally go anywhere else and pay less taxes. Americans are stuck paying high taxes no matter where they go -- and doubly taxed if there's no tax treaty with the other country.
Yes. I'm finally moving out. It's infuriating when the non-transparent Clinton Foundation charity gets over 20 million dollars while people here can't make a living wage. That's a quasi-socialist country for ya... soon-to-be-totalitarian.
@@manaflask8826 oh don’t worry, it’s not easy in Canada too. The government makes it difficult for Canadians to just leave and avoid paying taxes abroad. You literally need to cut all ties: close all bank accounts, sell your home and cancel your healthcare card…
@@BattousaiZ My household income is about 100k Canadian. Canada is barreling toward a fullout communist regime, and I'm looking for a plan B. However, according to wealth simple tax calculator, if my wife and I make 60k capital gains, and 60k in dividends (120K total). We end up paying under $900 in taxes... Nevermind child deductions and TFSA earnings! To me that still seems quite reasonable. Granted at this point i still have to earn my income through self-employment, so my tax burden is very high... if I lived abroad, it would be quite reasonable.
@@nathanhildebrandt2672 impossible 900$.Just google tax calculator and for 120K cad, you will pay around 30% of it in federal and provincial taxes.
Insightful video, thanks! Do you (or anyone else) has thoughts to share when there are kids in the picture ?
Private International school in Thailand is $6,000 a year. Thailand doesn't tax your global income as an expat.
Do you have to renounce US citizenship in order to get out of paying US taxes? I read that if you spend at least 330 days outside the US that you don't pay taxes on the first $112k you earn. Is that true? It wouldn't help 7 figure entrepreneurs but it would help 6 figure ones!
Yes but that $112k you earn must come from a foreign source. It can't be from a US corporation or from dividends you hold in an account in the US.
Yes it's true. And if you have a wife that's another $112k. Got kids? $112k each.
Can you make a video for young/new entrepreneurs with weaker passport who want to start business and get a powerful passport
Based on the title of this video: “How I reduced my tax rate to 1%” I feel it’s fair to ask: where is Andrew’s country of tax residency? Especially based on the intro he says, no one will stand up and be transparent except for him. So where did he go? Is it a secret???
It's all lies mate.
I think he says it, I think he mentions Dubai. And do keep in mind that he gave up his citizenship to do this 1% deal. Most of us are not comfortable giving up our American citizenship. I certainly don;t want to. I mean if that is what it takes then is it really worth the trouble?.
@@sunmand6136 you Americans are a funny bunch. You cling onto that American passport like it's some kind of benefit, and you all shake at the knees at the idea of changing citizenship. Enjoy your 35-50% taxes.
Great job!
So he basically said all that to say he bounces around and is well diversified 😂
yeah, I wish i saw this comment first
My US income is “earned” as pension and social security . Am I doomed?
Yes
QUESTION: As a digital marketing agency owner which country should I consider to decrease my taxes. I have a plan to come back to U.S. because my extended family is here. I think this is the land of opportunity for my children.
Why not look into starting a Delaware business, and run everything through it, just make sure you don't have clients or do business in Delaware.
This way you could live in the States, and pay ZERO taxes .🤔
Most of your videos address those with businesses. I am a retiree with passive income, what are the best countries for a person like myself tax wise.
You’ll have to search his past videos, he has a handful explaining options for people just like you.
Lots of retirees like Portugal.
Buy his book that has so many options!
I was tax exempt, working overseas. Then decided to change my address. I vacationed in Filipines, and wanted, to retire there.
I doubt it when you spend you cant avoid sales tax & excise taxes . There no way you only pay 1% tax
Nobody counts sales tax and GST/VAT as part of their personal tax rate. Fuck me, if they did, people in UK would be saying they pay 70%
@@Michael-Masi-911 in reality in uk you pay 50% taxes, in Australia can be up to 80% buying a luxury car
@@coopsnz1 wrong. Luxury imported cars carry a 200% tax in Australia. 300% on imported cars of any value in Thailand.
Taxes must be voluntary and not compulsory
Hey, he is very much like me a PT = perpetual traveler, the best thing in the world
What about someone who has been in the USA since 1969 but never became a citizen because her husband was born here lol. He’s now
Sounds like alot of work to not pay taxes, money comes and goes. You cant take it with you when you die.
Most rich people just take out loans against their assests and avoid taxes that way.
Pay those taxes then. You're living half your life working for the government. Enjoy your 1/2 life.
P.s. please note: the IRS and the Internal Revenue Service are two separate corporations( franchises of much larger ones), dba 's governmental service agency's. Lol
Summary: Travel around enough to not be a citizen. Sounds good, but not if you want to raise kids.
Private International school in Thailand is $6,000 a year and Thailand does not tax your global income.
Do you own any properties in Panama? Would love to see a video about a path to citizenship there and what it’s like to own property there. Thanks!
They had a friendly nation's visa and they have retirement visas
Hello Chris, we made a Short for you th-cam.com/users/shortsGOeUqkftRJU
You need to invest 300K in property there to get Panamanian residency.
I'm moving out of Canada tgis year, 2022, and am looking into a good off shore bank. I saw a random online article says Belize is a top contender. Swiss not so much, as they have a law allowing banks to interfere with off shore accounts.
Any ideas?
Same. Im moving back to France :)
North America is a failed continent.
Singapore is the best overall
DBS Treasures at DBS Bank in Singapore.
You owe me a beer.
Read the most dangerous superstition
What facts do you have that any laws or taxes apply to you?
Very interesting, those countries who have tax incentives are now under the spotlight of heavily tax ones and I wonder how long it will be before pressure is place on them, or even worse incentives are given to the political leaders to increase taxation to limit choices?
That's what Biden was pushing for with the minimum 15% tax. Authoritarians would rather try to destroy other places to compete, rather than make their own country better.
Excelente strategy Mr. Nomad. So the others pay for the public services you use and you dont want to pay.. A genius...
We pay for the killings of millions in the USA I don’t blame him
Pretty sure you got it exactly backwards.
@@nathanhildebrandt2672 dont think so... If you move to a country why you should pay less taxes then the locals if you use the same services the country provide?
If I wanted you to pay me money, there are two ways of going about it. 1: I can wave a gun in your face and threaten to kidnap if you don't pay (Coercion). Or 2: I can provide a product that you willingly pay for, and we both are better off for the value exchange (Capitalism).
Take that principle to a global scale when shopping countries. Countries are incentivized to provide the best value for the wealthy nomad, because they can't get his money by force. Every country should do their best to entice people to come live there. Communist countries suck so bad, they have to force people to live there by not allowing them to leave.
When the wealthy move somewhere, they create jobs. Poor people don't create jobs. He infuses capital into the economy, and benefits the locals very much. So he benefits, and the country benefits- It's a win- win! Almost like capitalism.
You just bring real estate speculation that make life Impossible for the locals that need a house to buy or rent.. the same locals that pay for the comunal services you use here trought taxes you dont pay.. regarding the incentives from the some governments.. usually weak governments that are permissive to the lobby of construction...
I’m a Canadian hoping to find a strategy to reduce my tax payable when I retire but can’t afford to retire because of the high taxation in Canada !
Reducing your cost of living would be a good start. Come to Mexico :)
@@FreedomPlaya Move to a developing country for lower cost of living. Geo-arbitrage!
I'm retired. Please give me your top ten nations to move to. Please.
Mexico
Thailand
Do you advise people that have children to educate?
It isn’t easy to move around when you are trying to provide stable schooling.
He has done a video on it and a video with a guest speaker with a family also. But the idea is the same... the family would ideally be moving around.... doesn’t suit all families..
Private International school in Thailand is only $6,000 a year and Thailand won't tax your global income.
You can hire a full time teacher for your children in about 12 low cost countries for $60 per week and homeschool. Guaranteed way to ensure your children are educated how you wish
"I'm a tax resident of that country. I've invested in that country" -- Andrew, you haven't revealed WHAT country that is.
He did, subtly though :) May or may not be a video of said country in this.
@@kevinw9964Please say. I can't figure it out. Or add a hint! Thanks
Andrew is a citizen of St Kitts and Nevis and he has renounced his US citizenship.
Malaysia
Andrew, I don’t know if you are aware of being able to watch and listen to an entire TH-cam video without clicking on it. Which also means you can’t comment on that video. You also can’t click on anything so it kills the
Taxes,Just passed a bill to hire 87,000 more IRS Agents to dig more $$$ from you!🇺🇸
By all means reduce your taxes, but this is taking it to extremes. If everyone did this, the entire world would look like India or Mozambique. He gets to enjoy the civilised world and its infrastructure only because of the taxes paid by citizens of those countries. The word for people like him is freeloader.
Jealous much?
Union leaders & government poltican free loaders
🤣
With all that money... Hire. A. Scriptwriter.
Andrew does have kind of a meandering speech pattern.
Makes him a lot more believable to not be scripted in my opinion.
More click bait. Not at any point did he talk about reducing his taxes. Don't waste your time on this jackwaggon
Future is in east Europe
Sound like a sheep listening to Andrew tate all the time plus Eastern European countries are strengthening regulations for naturalisation so will a lot of other EU because the countries are small. Americans stay in American u guys already ruined enough and we don’t want your mindsets here
Folks don’t waste your16 mins here
Joe Biden Brian cells are at 1%