Hello you savages. Get my free Reading List of 100 life-changing books here - chriswillx.com/books/ Here’s the timestamps: 00:00 What Nomad Capitalist Does 03:28 Overcoming Cultural Displacement 07:56 The Different Elements of Long-Term Travelling 11:11 Owning a Passport Vs Being a Nonresident 15:02 Is it Good Financially to Be a US Citizen? 29:06 How to Travel to Pay Less Tax 43:18 Owning a Business in Dubai 50:03 The Intense Paperwork of Travelling 57:26 Most Simple Places to Consider 1:05:25 Dealing With Education for Children 1:10:58 Travelling Abroad to Give Birth 1:14:58 Places Better for Tourism Than Residency 1:18:24 The Rise of Nomad Preppers 1:24:01 The Best Currency 1:31:25 Responding to the Passport Bro Meme 1:35:48 How to Get Started
Pi 3.14 π was first recorded by Moses in the Exodus Tabernacle blueprints near 1400 BC not 250 BC by Archimedes. 330-15-1=314 Calculation based on the description of the Tabernacle's curtains in Exodus 26:8-9, 12-13 with vs13 being the lynchpin. Here's a breakdown: Total Length of the Curtains: The Tabernacle had 11 curtains, each 30 cubits long. So, all the curtains together were 11 x 30 = 330 cubits long. Folding One Curtain: One of these 11 curtains was to be folded in half. When you fold a curtain that is 30 cubits long in half, it becomes 15 cubits long. Adjusting the Total Length: After folding one curtain in half, the total length of all curtains would be 330 cubits (from all 11 curtains) minus 15 cubits (from the folded curtain). So, the adjusted length is 330 - 15 = 315 cubits. Extra Length at Both Ends: The same folded curtain is supposed to have half a cubit of material hanging off at both ends of the Tabernacle. Since there are two ends, that adds up to 2 x 0.5 = 1 cubit. Final Calculation: To find the final length, subtract this extra 1 cubit from the adjusted length of 315 cubits. This gives 315 - 1 = 314 cubits. This was discovered by a Christian engineer from Wisconsin in 2015. Geometry π people will see this as dome shaped. However Josephus the Historian describes the traditional rectangle shaped Tabernacle. 2 different shapes. or (C-curtain L-length) 11Cx30L= 330CL, 1Cx30L= 30CL÷2= 15CL-330CL= 315CL, 315CL-.5CL-.5CL= 314CL Exodus 26:8-9, 12-13 or 330-15-1=314 Exodus 26:13 makes Pi 3.14
Thanks for sharing. Agreed on dating American girls; for me what keeps me here is family and guns. If guns and airlines are liberalized in Argentina it's gonna be a lot more attractive.
I've been living in Thailand for 2 years working remotely. You're kind of living on borrowed time to an extent unless you have the money for longer term visas but my life get 10x better when I made the move. Most people just think its an attraction to hedonism but if you're focused, you can be far more productive. I would highly recommend trying it out for 3 months (SE Asia in general is fantastic) and seeing how you fare. The worlds a different place now, don't listen to people saying you're running away from your problems because, in my experience at least, opportunities are more likely to run into you.
@@luisfilipe534 That depends on the person really. If he's working remotely that means he's bringing foreign money in and spending it in local businesses, AND he's not a tourist. It's really just drunk tourists that create problems.
I have been following Andrew the Nomad Capitalist for 9 years and he changed my life. Currently writing this comment from a cafe in Porto, Portugal with my Italian citizenship and passport application being processed in Italy and soon to return to my home in Albania after enjoying a month in beautiful Lisbon. Go where you are treated best folks. Modern Wisdom is my #1 pod and I was so pleasantly surprised to see Andrew’s face on this channel! As a side note Andrew’s services are excellent for high net worth individuals but his content is for EVERYONE. I am in no way affiliated with him but he has been a force for change in my life in changing my perspective. I did and am doing the work and you can to.
@DrewMcFederiesCEO You DO know that flying everywhere costs money, yes? Are you aware of how basic reality functions? "iF yOu rEaLlY wAnT iT" Nope, that's actually NOT how reality functions, wanting something does not re-write physical reality.
I started following NC years ago. Despite not being rich enough to afford his services, his content was highly informative. Helped me get my butt off the couch. Got myself a passport through descent and a residence permit through investment. Couldn’t be happier.
Love seeing Andrew on this podcast! Been following Nomad Capitalist for years and finally bit the bullet and started my journey. Moved to Mexico last year and just got my residency.
Andrew Henderson is amazing. I remember what he said: Go where you are treated best. Canada is horrible. Thanks to Vietnam, I have a better life for myself. I love Vietnam.
@@jmagicd9831 Not true. Sign up to Beach Commute (not my business but I am a customer). They send a list of jobs paying US$50-200K a year you can do remotely as a digital nomad. Mobility can happen once you have $5-10K in emergency funds and a good online job.
I thought that until I realised him paying isn't the issue as much as what he's getting for it. Nothing! No healthcare, bad schools, high crime rates and mass shootings
I've followed NC for a few years. One thing I always forget is that you probably need a lot of money to really get the benefit of his services and moving around the world to save on taxes.
That is not true. Anybody on an average salary can do the work to investigate a suitable visa in over 150 different countries to reside, find a job and change their life. You can research the accounting / tax rules, hire a local accountant in that country to provide guidance at a reasonable rate. I know nomads working online earning AUD$60K per annum who live great lives in low cost countries who do 95% of it themselves and pay $1K per annum on accounting / book keeping to ensure they are tax compliant. If your income is $500K-1M + then it is prudent to hire a higher level advisor like NC / Wealthy Expat / Henley Partners or Mikkel Thorup for bespoke advice.
I just finished a tour of SE Asia and following Andrews advice, I got my annual check up done at the Medical Center he recommends in Kuala Lumpur and got my US Passport renewed (2 weeks) also in KL. Malaysia is fantastic! I loved Sarawak on the Island of Borneo and really could not say enough about how kind and friendly the people are in Malaysia (many speak good English). I would move there if the temperatures were just a tad cooler, that really is the only draw back for me. Thank you for the great interview!
@@neiloppa2620I love most things about Malaysia but I can't take the humidity and heat! I now look forward to spending more time in Bandung, Indonesia ;)
"You don't get anything for your US taxes." Truer words were never spoken. I'm a resident of a high-tax state (CA) and pay about the same amount of my income in taxes as my relatives in Europe. But in Europe their taxes cover university education and healthcare which are two HUGE expense items for me. My taxes are paying benefits for other people, not me. It's that simple. It's a rip-off. Also, I drive on potholed roads and there are homeless people everywhere.
i think it is an expected collab. all these successful people in the USA and UK etc. slowly realize they can do alot better elsewhere, i think Nomad Capitalism is inevitable
Interesting take about Canada. It’s a great passport to have but our taxes are very large. You can declare non residency and live abroad rather easily. I did it for 5 years. But most Canadians come home and moving a lot of wealth back is tricky.
I've dipped into this guy's videos a few times over the last few years and I've always wondered what all these businesses are that he constantly mentions but never says what they are.
First it was a pool cleaning company he founded in college in Phoenix.. Then Nomad Capitalist where a consult is 10k. He has good ideas but is a swindler truly.
If you're on a tight budget, living in a city/country where you don't need a car instantly gives you back a big chunk to your income. Most developing countries have fantastic cheap public transit.
I lived in Dubai for 15 years and had 2 kids there. I can guarantee the child will not learn a second language, everything is in English (but they will meet a lot of people from around the world that’s true). We tried traveling for 4 months across Australia and New Zealand with our school aged kids while homeschooling. Let me just say it is not for the faint hearted and not something that is easy to do. Many kids need routine and consistency and if you are constantly moving around it is very disruptive for them (exceptions are babies and small toddlers). He’s making the “bringing family with you” sound way easier than it is and I’m guessing he doesn’t have kids.
Absolutely about the kids, he is underselling their needs to a point of negligent advice imo... They do need structure, routine and discipline. Looking back on when I was a child my worst times were when life got upended through a move or my Dad getting deployed (military) so much so that even when I was college aged I still hadnt shook that and the constantly changing routine and moving really screwed with my mental health and amongst other things caused me to drop out. I suppose some children are more weak to it than others but as a whole children cant live like this. This nomadic thing is a childless adults game.
Son of a retired Navy Corpsman, here. I wholeheartedly disagree. It’s all in parenting. I am fine from the experience. I homeschooled my kids while living abroad and moving over several years. My kids are well adjusted. 2 college graduates, 2 in college.
Andrew has been a blessing in my life. I’m heading to the Nomad Capitalist conference this year in Kuala Lumpur. Looking so forward to it. Nigel Ferage, who is scheduled to be a speaker, is a hero of mine. So many more on the roster that I’ll hopefully get to meet. Great show Chris. I only recently discovered you. Keep going! Cheers
@@micclayif you get a European Union passeport in addition to the US, then you Can live in any European Union country with no limit ! If you are Only Américain you Can stay max 90 Days, 3 months. Also it gives you options, if you don't liké life in the USA anymore, if you Want more Freedom, you may liké a Eastern European country more, liké Bulgaria, Serbia, Hungary. ...
Southern germans, bavarians, are way easy to befriend. Had a great time. All covos where over beer though but i had a convo with an old mechanic who spoke no english but through his buddy we where like old friends. First time i ever tried snuff.
So many points was brought up that i was thinking about for a while.I'm glad other people have noticed some of the mentioned things regarding what do we got for paying a third of our hard earned money? I live in NYC and it is very unsafe outside with all the crimes going on,roads are in horrible condition to drive on,parking is extremely difficult with the city running the alternate side parking scam 4 times a week,charging us tolls left and right and the list goes on and on.I'm preparing for a smooth exit from here because it makes no sense to be here any longer.
Come to Buenos Aires, people. Beautiful city, extremely expat-friendly, something to do literally every single night, great food, good public transport (or Uber everywhere for less than $10), and you can overstay your travel visa for YEARS and just pay about $20 in fines.
I heard that what you mention is true, but I also heard it isn't safe, which is a bummer. No matter how nice or friendy the city or country, if it is not safe it is not worthi it. Especially when there are many safe places in the world that are also beautiful and friendly.
@@bionborys1648 The city is quite safe, especially the neighborhoods where expats stay in (Palermo, Belgrano, Recoleta). Those are very safe. Friends of mine who are from the UK and US say it's much safer than most cities in the world, women can walk around at night easily, etc.
I'm Argentinian too. You obviously want to take the same precautions as anywhere else and walk in popular streets with plenty of activity. I just wanted to point out that friends of mine feel safer in Buenos Aires (in those very specific areas) than they do in their own cities.@@baconwaright
I've been following both Chris and Andrew for years, and this was a podcast episode I never expected to happen. I'm looking forward to the conversation!
This one is an absolute treat. Reading Andrew Henderson's book Nomad Capitalist back in 2018 inspired me to figure out how to work online and travel the world. Literally changed my life.
@@NoRegertsHere started a software company with 2 friends. We have lived in Mexico, Spain, Rwanda, Thailand, Vietnam, Kenya and have visited over 30 countries. Now looking to settle down and implement the trifecta.
Financial planning is like navigation. If you know where you are and where you want to go, navigation isn't such a great problem. It's when you don't know the two points that it's difficult
It is very sad that we in the west have so little of a connection to our homelands and culture anymore that we see no reason to stay and try better it. I'm the same though, I left NZ because of how far left policies have destabilized it and altered the culture, I feel no connection anymore, I have no pride in it. Its just some place now. Living in Japan it feels very different, Japanese people are all in it for their fellow Japanese (Despite current efforts to undermine it) Its so sad that we dont have that.
In my opinion, really helps children and teenagers to live overseas part of the time because it gives them more a global view and different customs and possible learning a different language and meeting new friends.
In terms of schooling there are already people who move with their kids - diplomats, corporate kids. I grew up like that. There are local international schools used to mobile pupils. Also there are British online schools that will teach kids online internationally. Kids can do the IB system or the A'Level system online.
You may need a lot of money to utilize Andrew's company; however, Andrew still drops a ton of valuable knowledge via the Nomad Capitalist YT Channel. Great podcast.
Eduardo Saverin renounced his citizenship in '11(I believe). He was a co-founder of Facebook. He sold his shares with like 11 figure gain and paid no taxes. The exit tax occurred after that. He moved to Singapore.
I moved from Hawaii to Thailand way back in 1978 and I still love it. I think my life over here has been much more interesting than it would have been if I had not moved. I used to go visit my parents every year until they passed but don't go anymore. Don't enjoy having to file taxes in the US every year but it is manageable and I don't really want to change passports. This life is not for everyone but I think it is worth exploring to find out if it will work for you.
I love Andrew and Nomad Capitalist. Not a HNW yet 😊 but I still find the content highly valuable and I’m actively looking for a second passport and where best I could either open a second office or move entirely. I do not like the direction the UK is heading
Irish real estate is off the charts like many countries . The damp climate and rainy weather takes a lot to get accustomed to. The upside is a friendly people with good night life and cheap Ryan Air flights to all of Europe . Many European countries have better bang for your buck . So a place in Spain is good to escape Irish winters .
I moved to Switzerland to avoid paying 50% tax in my home country. Now effectively paying 20% and earning, after tax, more than 3x as much. However, I have a hard time socializing here. I wouldn’t say it’s because it’s Switzerland but it’s because I moved to a new place in general and I am not a student anymore. Finding friends in a completely new place seems so hard and frustrating. I am in my early 20’s and I just got out of university. Living in a town full of young people is just so much more fun than somewhere where most people are already 30+. Unfortunately, now my career is going so well that I’ll probably never be able to move again lol.
Join local sporting clubs to meet people. That's how to slowly meet people and learn Swiss German. Too many expats are lazy and don't respect the local Swiss culture. It's pretty basic. Aussie here and I live in Switzerland.
I have similar experience in Sweden, though I’m 45, married, so I don’t care that much about socialising, but virtually in three years here, no friends at all.
@@LucianoCallero I lived for 5 years in Japan, but I have no long-term friends. Turns out I ought to have joined clubs for my interests. But I know that if I didn't have good friends online, then I may have actually cared to make friends.
I haven't heard about health, insurance, medical needs, death etc etc being in another country only for 4 months, here is where i kinda feel clarity needs to provided rather than just the passport/tax conversation
You would be wrong about that. Within the last month, Andrew had a video of his employees getting a physical in Malaysia that he paid for. He's talked about it more than once.
You pay for everything private, if you want it to be part of the country benefits you need to go to Europe. Is not as expensive as you might think specially if you are from the US
Except for quality of hospitals (very good in Malaysia, Singapore, thailand, etc), none of your concerns apply to wealthy people. He deals with millionaires.
Agreed. The whole conversation felt very superficial and hyper tax focused. There's more to life than that but I have a feeling that's not what he's selling...
This was a fascinating conversation to listen to. I am not a cosmopolite and don't see myself becoming one, but I find it interesting to listen to people who travel a lot talk about their experiences. Most people want to settle down and put down roots, but it's weird that one would still have to pay taxes to their country if they leave, give up their citizenship and don't use the roads, schools or other benefits provided by the state. I don't see why you would owe the country you were born in anything then. You are slowly becoming one of my favourite interviewers and podcasters.
Morally you could argue you country paid and raised you trough school and made you an able taxpayer for another country to employ at zero cost. Mostly, exit tax is for rich countries. In poor countries there are barely any tax, and barely any services. Workers doesn't have money for exit tax anyway. This is to change the equation on moving to another country for tax reasons. They want force them to comit even more, so they hopefully decide to stay.
@@OddisProductions Then why is the USA and Eritrea the only countries in the world that have this policy? The child has no choice on where he is born so why if the adult that the child developed into decides to learn the country should he continue filing and paying income and other taxes to a country that he produces no income nor transacts any taxable events? At the end of the day, you will always pay some tax, although if you are not from the USA or Eritrea then you will determine the tax rate that you are exposed to as a result of becoming a tax resident in that country. Simple premise . . . Countries do not own their citizens . . . that would be the equivalency of economic slavery.
@@chickenfishhybrid44yes, he's not saying it because he's using that everytime is convenient to him. Which is fine, but stop complaining about taxes then.
I wouldn’t recommend moving to Puerto Rico just for the Act60 tax benefits. There’s a ton of controversy surrounding them, and they are getting very strict with the rules to be eligible to be on Act60. Local Puerto Ricans hate it because its causing gentrification to the island with Non-Puerto Rican Americans moving in with no relation to the island and with more buying power buying up entire neighborhoods, public areas, and historical sites then going on to turn them all into private resorts, vacation homes, and Airbnb businesses. Because of all this a movement called the GringoGoHome movement has been growing big time and there have been many protests throughout the island to have Act60 removed. Also, many financial gurus and economists have said that Puerto Ricos Act60 is very likely to be taken down in the near future because its actually doing more harm to both Puerto Rico and the US economies. Channels like the Wealthy Expat and Nomad Capitalist have talked about it multiple times and explain why it’s a no go, and there’s better and safer places to move than to a US territory to follow a bunch of strict rules just so you can get away with paying little taxes. Congress has been demanding the Puerto Rican government take down Act60 because it’s losing the US billions of tax dollars and many people who are on Act60 are using it as a tax loophole to cheat paying taxes on the island by pretending to live there. Already over 100 people have been caught and arrested, and many more are under investigation by the IRS. The only reason Act60 is still up is because the current corrupt governor Pedro Pierluisi and his party are using it as leverage to pressure congress to make the island the 51st state. And they are open about this plan, when congress ordered them to take it down, Pierluisi said he’ll only do it if they make the island a state first. This year is the elections on the island and their party has been losing a ton of support because of all the corruption being exposed, and all the other parties are forming an alliance against them. If their party loses the governorship and they don’t get the majority in both house legislatures, then definitely Act60 is dead. All in all, I’m not saying Puerto Rico sucks, I just don’t recommend moving your entire life there just because you want to pay less taxes, when there’s a ton of issues going on in the island.
Yes, Puerto Rico is corrupt. At first, the annual fee to be in the program was $50, then raised to $300, then to $5000, even in years you lose money, you still have to pay that fee. Newcomers also have to make an annual $5000 forced donation to a PR charity, so you would be paying an unavoidable $10,000 annually to stay in the program. It also costs $5000 more to as a one time fee to join the individual investor act program. The police are inefficient/incompetent and the laws are in favor of criminals in case you are a crime victim
As a resident of two time zones 12 hours apart i identify with him, and want to know more about low cost company setup for tax reduction when a consultant.
As a Canadian we are very lucky to be able to change where we pay tax very easily America’s have to renounce their citizenship to escape taxation. I plan to retire in Asia but I’m happy to keep my citizenship I’m hopeful my country will get its mind back.
lol. This wouldnt go well. much of what Nomad is trying to avoid and calling a destructive thing for society,,,, are things that Zeihan would be in favor of and try to protect.. Zeihan probably thinks its a great thing to give half of your money to the state.
Peter Zeihan thinks U.S. is the place to be and Nomad obviously runs a business where he makes most of his money from people leaving the U.S. It would be hilarious seeing them argue.
Moving around the world to find the best for you seems to require that you think of people as fundamentally replaceable. I don't live in a great country, but I live around some great people that make it so worth it.
If you're an Australian citizen and plan to exit the tax system as a non resident you pretty much have to sell all your real estate there, otherwise if you ever stay there for 6 weeks during a financial year or more from July , you'll fail the non resident test according to the new rules.
After watching for years I went to KL for 2 months to see what NC was raving about. It's is cool for upper class just like any place. When your in Thailand they have Soo much class they never show dislike based on appearance or nationality But a person of African descent in KL expect to be stared at micro-aggressed by Chinese people and India people. Religion is not a issue at all.
As a Rwandan, I have mixed feelings about this. My parent's generation lived abroad in different countries (including western ones), but decided nevertheless to come back and fight for/rebuild the country. If they had decided to stay in better places, I wouldn't have grown up in a country that's a shining example to the continent. Perhaps some of these countries were only able to become great because people decided to stay and change it for the better.
Very good point. But people like these are not interested in matters of honor, family, legacy but money and convenience. It might work for some sociopaths, but thank God we're not all that. Stay/go where your heart is.
Must be 💩 Horror that someone you in love with and vulnerable to turn around one day and do such a thing.. be single guys until someone truly worth it 😅. I had been following your Chanel for a while now, and I congrats you for your courage and determination. You won.🥇 celebrate 🎉
Unfortunately in Europe, with the automatic exchange of information now, it's very difficult to pay little taxes if you have a European passport. My bank in country A told everyone to my tax office in country b (new country of residence) and you start immediately by belonging in the 35% brackets if it's interests or revenues from savings account received in country a. It seems as if it's hard to win these days. They know everything.
I love this lifestyle, but having this lifestyle is very difficult for the kids. Taking them out of their schools, leaving their friends behind, and again having to make new friends in a new place is tough for kids. Homeschooling is ths other option, but mingling and mixing with other kids is how they develop their social skills. The better option if you make enough money would be just to have setups abroad but dont live there. Just travel for a few days once in a while to take care of things.
@fallen546 which area or apartment building is good in Vietnam that we can reside? Did you renounce your US citizenship? How about double tax in Vietnam? I’m considering moving to Vietnam, so I would greatly appreciate your input. Thank you!
I am a 67 year old male from the states. I currently live in Albania and have for almost 3 years. I have tempoary residency on a business visa and will have to wait 4 more years until permenant visa. I have a small business out of the house I live in and will soon open a restaurant here. I currently draw a taxable pension form Oregon and my SS. I have setup my business as an LLC here and draw a salary from it so that I don't have to pay self employment taxes to the IRS. Unfortunately since I will be making a combined taxable income of over $ 25,000 I still have to pay some taxes on my SS. If they would raise the cap or eliminate the entire double tax, like in the Bill currently in congress now, then I would be tax free from the US unless I made over $ 120,000 overseas income.
wanted to travel in Europe and started looking at places to stay. I could only stay for 3 months at a time then would have to leave for 3 months. I came across Albania by accident and saw that they weren't in the EU and looked at there length of stay. I was surprised to find out that Americans can stay for a full year without having to leave. So I decided to use Albania as a base and actually fell in love with the place and decided to make it my permanent home.
That's incorrect - although many strategies aren't available without a lot of money, the whole concept is really about assessing your options. There are plenty of places you can move to on an extremely low wage and enhance your quality of life. Go where you are treated best.
Yeah, I've seen this guy on other podcasts (Jordan maybe?), and he's talking about things you can do if you are wealthy. Now, as a person who has lived internationally for many years (about 20) and on much less, I can say it's possible (like his number $2,000 a month in cheaper countries), but he sort of just talks about solutions for people making much, much more, lol.
I would love to explore the international living experience. Unfortunately/fortunately (depending how you look at it), I am very emotionally invested in the civil society aspect of my country and run a non-profit company part time. To live overseas would basically kill a real shot to change a big regulatory regime in my country in the next few years. I also live faaaar from anywhere being bottom of Africa, so travelling is horribly expensive and the rand is not so great 😅
I think being invested in your society is commendable and should make for a very rewarding life. Good for you and depending on how your life evolves, it may still be possible to do the IL thing one day.
I have no objection to paying tax. I just want to see my taxes used to make a better society and that's simply not happening in the UK any more. I hope to sell up in the UK, keep my parents' flat here so they don't feel adrift. And move to a country with a better quality of life which will allow my parents to come and stay for as long as they like. I just want to reduce my cost of living and have a nicer life style. I work long hours but can never afford to stop working and retire if I stay in the UK.
