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Check out our article about: Countries With Zero Foreign Income Tax
Here at Nomad Capitalist, we’ve always encouraged people to go where they’re treated best, and if you’re a wealthy person with a high income, you should at least consider the opportunity to legally reduce your tax rate overseas.
There are legal offshore tax strategies that you can use to keep more of your own money. And with that money, you can reinvest in your business, provide more for your family, and build your legacy.
With more western countries rising taxes, more people than ever are looking to escape their countries’ tax systems. In this video, Andrew explains how you can do that.
00:00 Start
00:55 Tax Residency
03:05 Citizenship Based Taxation
05:00 Tax Misconceptions
06:16 Low Tax Countries
10:13 Territorial Tax Systems
12:29 Lump-Sum Tax
14:57 Non-Habitual Resident (NHR) Program
Andrew Henderson and the Nomad Capitalist team are the world’s most sought-after experts on legal offshore tax strategies, investment immigration, and global citizenship. We work exclusively with seven- and eight-figure entrepreneurs and investors who want to “go where they’re treated best”.
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Andrew has started offshore companies, opened dozens of offshore bank accounts, obtained multiple second passports, and purchased real estate on four continents. He has spent the last 12 years studying and personally implementing the Nomad Capitalist lifestyle.
Our growing team of researchers, strategies, and implementers add to our ever-growing knowledge base of the best options available. In addition, we’ve spent years studying the behavior of hundreds of clients in order to help people get the results they want faster and with less effort.
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DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.
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Another great video! Territorial tax residency systems are the way to go
Which Scandinavia country don't let u go to dubai?
DS created taxes system, they are finished as taxes systems .
Tbilisi Georgia gets 2046 of sunshine per year. That's cloudier than Seattle.
If I move to Guam, do I get the same benefits, as moving to Puerto Rico?
the great reset is a global issue, we are building infrastructure to be able to survive in canada and around the world. We need high quality skilled people. the alternative is transhumanism or death.
If you are a real baller I could see going to Monaco and living off your yacht . But American citizens can form businesses, take massive reasonable deductions , then do pension and retirement planning , severely reduce their taxes corporate and personal and even escape state taxes by Florida residency or low tax / low property tax states. It’s the American way. You just need a great lawyer / accountant and pension person.
You get to live in the United States 🇺🇸, travel abroad and send you kids to decent school and college and grad school.
Why gamble to live in Eastern Europe / Asia or Mexico or central or South America. Do you need examples given the war in Ukraine of what can go wrong ?
Dual citizenship with a country you love is great. But there is nothing like American citizenship if you have it. Especially if you are a Cubs fan.
Good content. I’m all for paying taxes to help the country I live inn, but there comes a point where my taxes are being raised in various areas and also being misused.
The very best way to do it is to open a business and go cash only for about 95% of your business… Or so a friend tells me.. LOL!!!
Re- Germans & Bicycles 'being registered'- If people are controlled that much to put stickers on their bicycles than that country is NOT the Deutschland my forefathers fought and built for! Nor are those really Deutscher any more but like lab rat$
None of Scandinavia has stickers so..?
I would like to visit Tablisi Georgia as a prospect but Russia does make me wonder since they we’re invaded by Russia in 1985 ish and they are not a NATO nation?
does the USA have tax incentive programs for immigrants starting a farm?
The Diaspora tax (which is only 2%) for Eritrean citizens is only imposed on those citizens who seek services from Eritrea, thus why many people who live abroad don’t pay it. If you’re a citizen who lives abroad and don’t plan on buying a house in Eritrea or seek other legal services afforded to Eritreans who live in the country, then you genuinely don’t need to pay it.
How much does Andrew charge to become a client?
Is there anyone who does this kind of thing for 5 figure income i.e., retirees that want to go where they they're treated best?
There is talk that there will be a global minimum tax of 15%. How will this affect a person's strategy when structuring their finances and relocation?
Andrew, if you expat from the USA, renouncing citizenship, where do you put your cash?
YT is full of foolish people that Andrew has to put the word legal on the thumbnail cuz some idiots might be irritated that he's teaching people on how to escape tax… I don't know anyone who loves paying taxes unless he/she's a socially engineered fool!
F—-ed in the USA 🇺🇸
Aplogies to Bruce Springsteen
Here is an idea, we as people all need to come together and protest these insane taxes and uncontrolled spending and printing that our governments do. Think trucker protest times a million.
Any civilization that will sacrifice their children's future for the comfort of the old will not survive.
I am curious how the tax system may affect those receiving pensions (government and private) from places like Canada. I was recently speaking with Revenue Canada explaiining that I am now in Mexico. The agent asked if I was no longer a resident of Canada (which he said would make a difference). However, I was left on hold for so long I gave up.
This was called “Residency and Source” when I was at university.
Escaping EU tax sustems takes only 1 year.
So get a passport and flipp the finger… later.
Easy, I have done it…
Fuck.. US, Australia, nz, and all other neo-nazi, regimes will be conquered, later.
Putin is just getting started…
I would think that if you move to a foreign country you could pretty much thumb your nose at the IRS because after all they don't have jurisdiction in foreign countries.
Im proud to be one of the dudes of my generation who fucks the state really hard. Im also proud of my fellow companions who walk on a similiar path. We dont need to be centrally organised because we are the opposite of the sate. We dont need violence but just sound money and balls. Thats all you need to fuck the system really hard.
Brazil is based on physical residence (monitored by SRF based on the 183-rule). So – if a brazilian citizen declares a non-resident status to SRF (brazilian IRS), spends less than 183 days per year in the country and does not have his/her main active source of income within the territory, then one is only taxable on investments / enterprises initiated domestically prior to the declaration being filed (no new activities can be contracted after becoming a non-resident for tax purposes, as they freeze the applicant's CPF / TIN for certain purposes; one would need to keep a mandated representative in the country in order to do that). Ownership of any offshore or inshore properties abroad does not even have to be declared to SRF while the non-resident status persists. Now no precautions are enough if one decides to move the opposite way (return to the tax resident status after a year or more). Book a call with a tax lawyer first, tax plan appropriately, then make the decision…
How would the Australian Government know that I’ve bought property in Tbilisi, Georgia and am earning rental income from it? If there’s no tax treaty between the 2 countries then aren’t we sitting pretty?
Many thanks for the video, Andrew.
Could you or your dad please discuss the tax implications for retiring in a low tax country ?
Hey Andrew, can you do a video on which countries are best for working in, as employee?
I do plan to start a business one day, but I am very early in my career and need to work for a few years first to build a solid foundation.
I work as a software developer and live in Australia. It seems to me like the countries that have the highest wages for my profession also have very high taxes, with a possible exception of Switzerland
Been just about 6 months in Georgia. Bought 2 houses, two apartments, an acre of land. Renting out some. Building a house. So long Vancouver!😀 All I did I just sold my house in Vancouver. Still have plenty leftover.
Excellent information, even the peons are trying to figure there best next move. Changes are happening fast.
40 percent seems like extortion
Andrew it’s not only America and Eritrea. Myanmar and Hungary also have citizenship based taxation.
Wonder if someone has a list of countries along with a general tax description of each. 🤔
Love your content, so needed today. Peace from Ottawa 🇨🇦
JUST UAE PASSPORT 🇦🇪
If America is taxing this way all governments in the future will tax based on Birth Location and if you want to leave you'll need to report you are moving governments. This will be the way until we have a 1 world government which essentially IS assimilation.