Home Immigration The Best Countries to Live, Incorporate, and Be a Citizen

The Best Countries to Live, Incorporate, and Be a Citizen

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The Best Countries to Live, Incorporate, and Be a Citizen

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So, what is Flag Theory?

If you’ve spent any time here at Nomad Capitalist, you know that we talk about the concepts of internationalization, like having an offshore bank account, obtaining a second passport, and even hosting your website overseas.

Flag theory encompasses those ideas and more.

Put simply, Flag Theory is the idea that you should “go where you’re treated best.”

The goal is to diversify your personal and financial affairs so that no one government has control over you or your money.

Every time you base a part of your life in a new country, you plant a “flag” and diversify according to factors of geography, finances, law, lifestyle, taxes, business, health, politics, investment, and more.

In this video, Andrew shares the best counties to live, incorporate, and be a citizen.

00:00 Start
0:27 Global Lifestyle
1:58 Countries to Start a Business
7:38 Moving to Another Country
8:11 Moving to Ireland
8:45 Moving to Asia
10:05 Citizenship by Investment
11:48 Citizenship By Descent

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”.

Work with Andrew:

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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39 COMMENTS

  1. Dubai – Utter shithole, polluted etc
    Hong Kong – See above + now a Chinese Satellite and War is coming.
    Malta – Poor healthcare and education + very polluted
    Bulgaria – About to be ejected from EU and a real third world shithole.
    Panama – Utter shithole
    Virgin Islands – Actually okay, preferred tax refuge for people like me (rich aussies)
    Caymans – Okay
    Mexico – Hell No!
    Nicaragua – Hell No
    Colombia – GTFO – If you have money, crooks will kidnap your kids and the government will not help. Private negotiators are expensive
    Bahamas – Okay
    Georgia – Now a potential warzone
    Armenia – Actual warzone
    Serbia – Potential warzone
    Montenegro – see above
    Portugal – Yep
    Austria – Yep
    Ireland – Yep
    Panama – GTFO
    Italy – Just a fucking mess
    Malaysia – Okay but really as dull as all fuck

  2. Not in this video. For a musician 🥁🎹 like me, The Philippines 🇵🇭 is where I would live. The training is more intense than in the USA 🇺🇸. The musicians travel the world 🌎 Ask Morissette Amon, Katrina Velarde, et al.

  3. Do you know something on Italy's special regime? It's about deducting 70% of tax base for digital nomads/self-employed newcomers. One sources say it started working from 2019, some say, it should be ready this year

  4. Another great video as usual. It's somewhat hard to parse all of the different options. And the more options you have, the more complex it becomes. I think it really depends on where a person's at in their life, how much money they have and what's important to them. If you go to a country where English is not the majority language, it really sucks. It's not like you can't learn a second language, most people can. I've learned five already, I'm probably not done yet. But it's a chore to try to speak another language. Especially if you're in a situation where you've got a medical problem or there's an emergency and your vocabulary is so limited but you're unable to articulate exactly what you need to have done. Of course these are the extreme situations, there are many others that are less extreme and just as vexing. I think the thing that's sort of in the back of my mind is what's happening internationally with the minimum 15% tax that countries are trying to impose on the others you know when you think back, tax was supposed to be temporary when it was originally enacted. It's far from temporary now. You notice that the US just enacted a 1% tax on share BuyBacks. You know that just opens the door then they can add a 2% 5% 10% I mean once the tax is in it's easy to modify the rate. I think it's going to be more difficult going forward to live in countries that are tax Havens. And I think you alluded to that as well when you compared paying tax in Malta because it was a whitelisted country. However I'm not sure if it is whitelisted, or at least the banks. I think they're still gray listed. And I spoke to people about moving to Malta, and they did mention a lot of difficulties with the banking there. I think the kyc is just over the top. Setting up structures I think invoke some anxiety to at least myself not knowing if the structures are going to hold, or if the rules are going to change. I think you're much better off to go somewhere where it's a straightforward deal, and you know exactly what's up front and you're able to comply with all the rules and regulations without any expectation of change which could always happen. I think your talk illustrates exactly how difficult choosing a location to move to can be. I guess you could start with a simple truth table. The first question is do you want major English speaking or not? Once you have made that determination, then the list gets whittled down pretty good. Then I think next I would look at healthcare. And I remember you did a talk on healthcare which I found overly simplistic. I think the topic was how much is healthcare actually worth? So you took the total population of the country and the total amount that was spent on healthcare and divided the two together to get a number on what a country spends on healthcare. Could be around 3 to 5,000 for example. And that makes a lot of sense. But you know what if you get a heart attack at 2:00 in the morning, you're dealing with the local healthcare of that country and I think if you're in a third world country with third world doctors and third world equipment, your outcomes might not be the same as say the Mayo clinic or the Cleveland clinic. Of course if it's not an emergency you can jump on a plane and go anywhere. And I guess at the end of the day it might not save you anyway, but it certainly gives you a piece of mind. The other thing that you didn't talk a lot about was the weather and the relative number of things to do in a country. For example you talked about the Bahamas. I inquired about the Bahamas. It's really hot like unbearable in the summer, and the cost of electricity is around 40 cents a kilowatt hour. It cost you more air conditioned your place than with the rent or the cost of carrying would be. And healthcare well, not much there, you'll need to jump on a plane and go to Florida. And what are you going to do there? So I think those are other criterias. You know it's not simple, and having someone who is experienced not only in legal aspects and the financial an accounting aspects, but also the lifestyle is also important. I mean what's the good of all the money in the world if you can't enjoy it? That's something you haven't addressed. As usual, great video. Thank you for creating the content

  5. All sounds great, except Andrew totally avoids the political risk of some of these countries. Low taxes and a pleasurable lifestyle are fine until the moment you have to flee the country. Nicaragua and Colombia are now run by hard Left regimes who could suddenly decide certain capitalist policies are too capitalist and Karl Marx wouldn't approve. Hong Kong is now fully under the thumb of a Communist totalitarian regime, capable of anything at any time, especially considering China's policy towards Hong Kong's former democracy violates all the agreements it made with Britain when the UK handed it back to them. What else would Xi decide to violate without warning? Georgia is fine as long as the Russians are busy attacking Ukraine rather than setting their sites again on swallowing up Georgian territory as they did South Ossetia and Abkhazia. Mexico could easily turn into a full narco-terrorist regime controlled by the cartels. In some areas of Mexico, the cartel's "armies" are stronger than the Mexican government's and have defeated attempts of the central government to reestablish authority. And large portions of Mexico's law enforcement and army are completely corrupted by cartel money. If this were not the case, there'd have been no need to send "El Chapo" Guzman to a US prison rather than a Mexican one. Dubai? Great, as long as there's no war with Iran just across the Straits of Hormuz. But that won't stop Iran from using its Revolutionary Guard to foment trouble whenever the mullahs in Tehran think it's to their advantage as they are in Yemen directed against neighboring Saudi Arabia using the Houthis , and of course against Israel using the Hezbollah, Hamas, and Islamic Jihad terror groups. A number of these countries have limited political freedom if any, now including Turkey which was turned into an Islamic state by Recep Erdogan. So you can enjoy your low taxes and nice home, but make sure you watch your mouth at all times. You never know if saying just the slightest wrong thing about the wrong potentate ends up costing you your nice home and your nice lifestyle.

  6. As far a citizenships go, one of the things I look at is the nation's ability to provide embassy assistance, while most of the Caribbean CBI countries are well serviced not by their own embassies, but by the British Embassies as members of the Commonwealth afforded such support, Turkey has a very strong network of embassies, much stronger than some countries with better visa free access where you can naturalize relatively quickly.

    For me, this became a criteria to consider because I have seen videos by several YouTube travel vloggers who have either lost or had their passports stolen in foreign countries and the process for obtaining a new passport even in a country were you can access the embassy of your nation of citizenship can be difficult. Not having access to embassy support in that situation would be a nightmare.

  7. Dubai (UAE) is uninhabitable place for human life.
    The Sun is too Hot 🔥🥵 in Dubai.
    And Especially the Middle East is not a good place to Live in.
    You have to stay indoor all year long 24 hours a day indoor in air condition.

  8. I mean a US LLC with no workers in the US can be a very beneficial structure to use for someone collecting US royalty income who is a tax resident of certain jurisdictions with the benefits of the right double tax treaty with the US. I mean if done correctly it can result in zero tax.

  9. I am surprised Andorra is getting very little attention on the channel. Sure, it is a tiny country stuck between France and Spain (78K people). But 10% tax, practically crime-free, 4,5% VAT, excellent education for your kids, great health care. Not everyone wants to sip margaritas on a beach in the Bahamas or live in an exclusive high-rise in Georgia, Serbia, or Dubai. Some people, I assume, would love the lifestyle of Andorra with nature all around, fantastic skiing in winter, hiking and biking in summer, and all the great things France and Spain offer a short drive away. Yes, you will need to stay there 90-180 days a year, depending on your visa, but I believe many people could have a great life in Andorra.
    In short, why don't you tell us a bit more about Andorra?

  10. I've enjoyed these series as they provide great insight from a very broad point of view. However, something that I've been increasingly curious about is the quality of life in some of the more popular destinations as it may be experienced by those who are minorities or not of European descent, as there may be some abrasiveness in many cases.

    I would love to see a series that gives advice on weighing the financial benefits and freedoms with the comfortablility of living in these places for those who are maybe of Asian, Indian, Jewish, or African descent. A bit more of a touchy subject, but it is of great interest to me and I'm sure to many others.

  11. You do not mention the other 120 countries……..reading from the tax tourist brochure is not exactly convincing……how about Sao Tome, Neuea, New Caledonia, Fiji, Cape Verdes, Azores, New Hebredies!!!. Better to live in USA maybe!

  12. A country’s culture is so important. You should always consider that. Many cultures around the world hate Americans. That’s why tourists often say they’re from Canada. They won’t know you’re lying. Some countries are very racist. Most Asian countries love white foreigners but distrust or don’t like black foreigners. Always live there for a while before you invest money

  13. We found out some times great ideas to travel a lot to seeing the worldwide because every countries some great new experiences if that travel you are travelling nothing hidden some prohibited our religion we found out I don’t travel I don’t need passport & if I m no allowed to vote I don’t to be a citizen any country thank you everyone for shearing

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