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 🙏
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.
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).
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.
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.
@@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.
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.
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!
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 .🤔
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.
Does Nomad Capitalist offer help of services on what paperwork to fill out for duel citizenship and income tax laws too follow for regular remote salary workers that want to relocate outside of the United States while still working remotely in the United States? Because I want to live outside of the United States, but I still want to work remotely in the United States.
$25,000 to talk to them. Worth it? Nope. The fact he pays any tax is proof he is just a shill for St Kitts passports or Malta passports. I'm starting to doubt that he even left the US.
@@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...
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
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.
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?
Andrew, I don’t know if you are aware of being able to watch and listen to an entire RU-vid 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
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
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
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.
