Mikkel Thorup is the world’s most sought-after expat consultant. He focuses on helping high-net-worth private clients to legally mitigate tax liabilities, obtain a second residency and citizenship, and assemble a portfolio of foreign investments including international real estate, timber plantations, agricultural land and other hard-money tangible assets.
Mikkel is the Founder and Director at Expat Money™, a private consulting firm started in 2017. He hosts the popular weekly podcast, the Expat Money Show, and wrote the definitive #1-Best Selling book Expat Secrets - How To Pay Zero Taxes, live overseas And Make Giant Piles Of Money.
Mikkel Thorup has learned his craft in three unique and unconventional ways; first, by living it himself, continuously pushing the boundaries testing new ideas around the globe; from diligent and intense study consuming over 2000 books and courses on the subject; and by apprenticing and learning directly from the world's top legal experts in the field.
Very long, we tried to trim the recording down to make it slightly more manageable. But I always try to stay on and answer all the questions everyone has. Thanks for joining me today Darell
You mentioned capital gains on stocks at 12%. I understand capital gains from abroad are not taxed, only interest and dividends, and only after the tax holiday period.
Looking at moving to Panama for 6 months next year. My girlfriend and I are looking for something to rent near the beach that also has an expat presence. Do you have any places that you recommend for us to look at and also do have any recommendations for where to look for long term rentals?
Depends on the season, in high season it can be more tough to get on the beach for long term. If its offseason you should be able to get a place for a discounted rate. I have a beach house in Playa Caracol and its very beautiful there
Paraguay is run by Nazis and one of the poorest, most exploited countries in South America. The agriculture is so polluted that many are very ill from it.
All of a sudden, lots and lots of youtubers, most of whom don't even speak Spanish and seriously lack knowledge of Colombian culture are somehow beginning to pose as experts on Colombian reality which to me is amusing to watch as all they do is repeat the same exact things that every other clueless youtuber is already saying about Colombia. It's very entertaining to watch how they mispronounce half the names of the cities and things as they pretend like they genuinely know something about Colombia. LOL
I agree with you. I first went to Colombia in 2004 for 2 months and travelled extensively there. Now, living in Panama for the last 5 years, I have had a chance to go back multiple times and have several investments there, including properties and land. Beautiful country, but lots of people talk out their ass and have no idea what the place is like. Btw I am not a "youtube" as if that was a job.
I am more into active adventures, such as hiking/backpacking, paddling, camping, etc. Not so much into bus tours and luxury hotels. I wouldn't come for just that
@@ExpatMoneyShow Two different groups of expats said that it’s a problem ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-eEyqBYZJzcE.htmlfeature=shared
In the example of owning half of a property with an IRA and then other half as an individual, does this mean you as an individual could use the property as a vacation home for 6 months/year? As long as it’s being rented the other 6 months?
He's had a minor impact so far. Milei is focusing on making the government's books look good, hasn't so far cut taxes. He could have repudiated all of Argentina's liabilities/debt, as Murray Rothbard would have advised.
He cannot repudiate the debt. He is not a dictator. He cannot cut taxes without going through Congress. You clearly don't know what you are talking about.
@@shellbanger1210 The executive can refuse to enforce laws of the congress. it happens in the US and all countries that follow the US presidential model (like Argentina). He's not doing it for political reasons to avoid risking his power given he has no majority.
@@shellbanger1210 Milei actually raised taxes. By reinstating the income tax on poor and middle class earning brackets, with his recent fiscal bill that was passed. This shows he's prioritising the government's budget over the people at least in the short term.
@@lawtutoringThe money supply was more than doubling every month due to fiscal and liability deficits. The country was -12 billion in foreign reserves including debt to crucial private sector suppliers. The exchange gap was 60% between the banking system and the market rate for dollars. Milei desperately needed to end money printing and this lower nflation (a tax), which was 230% prior to Milei taking office and rising rapidly. The country was inches away from Venezeulan style hyperinflation, which would have caused 90% poverty and obviously destroyed Milei politically. Any attempt to try open the banks would have lead to a run on the banking system and dramatically lower demand for pesos, causing hyperinflation. So Milei had to get his house in order and cut spending, which in turn has dramatically lowered taxes in the form of lower inflation. (Apparently you don't believe inflation is a tax and cutting government spending is not libertarian) Milei's more radical option would have gotten him impeached immediately for selling their liabilities at a rock bottom price. The government has no option to repudiate debt when they have no reserves and termendous debt to even private sector suppliers. Repudiating debt would cause all demand for pesos, bonds, capital to flee, dramatically reducing activity in the economy to Great Depression levels. Their country risk Was astronomical already and it would have made Argentina absolutely untouchable investment wise. So sorry. You clearly are wrong. He has had 0 legislation passed in 6 months until last week, and there was no chance at either a tax increase or decrease. This only option was to cut spending through extremely courageous means like cutting transfers and subsidies. Otherwise the inflation was rising to 50% a month as it was the moment Milei took office. Only h*s dramatic spending cuts saved them from hyperinflation.
Im flying to Colombia and have an unlocked Samsung that does not work with eSIM. I need to at least use internet for Uber and access my bank. I would love to have my phone connected when I land. What do you recomend ?
Been to the Middle East a couple of times. It's best to experience it for yourself. It's wonderful. The people are very very nice, humble, helpful, and welcoming.
Milei actually raised taxes. By reinstating the income tax on poor and middle class earning brackets. This shows he's prioritising the government's budget over the people at least in the short term
Anyone have personal experience spending time in Portugal that would like to share their opinion? I'm drawn to Europe. Tired of humid places, starving dogs and trash. I hear Portugal is no longer very popular and lot's of expats are leaving. Uruguay sounds wonderful but not logistically convenient for my travel goals.
