The Nomad CapitalistFeatured
Nomad Capitalist has helped 1000+ clients go offshore, keep more of their wealth, and enjoy an unprecedented level of global freedom…
…and we are on a mission to inspire the millions of people who come to this website each year to go where they’re treated best, too.
OUR MISSION STATEMENT
“Helping people improve their lives and create wealth through legal, ethical, and effective strategies for international diversification.”
THE STRATEGY: WHERE TO PLANT YOUR FLAGS
When I started Nomad Capitalist, I was still looking for ways to take back more control of my business and my life. I was looking for places and business structures that would let me live a life of true freedom. I wanted to choose how I spent my hard-earned money. I wanted places that would let me pay less in taxes. Places where I could diversify my risks and ensure my well-being, even if my home country’s economy crashed (again). Turns out the best bet for me was planting flags all over the world. A good country for one flag might be bad for another.
It’s easy to get caught up in just lowering your taxes, and that’s important, but it’s not everything. I’ve been doing this long enough and actively enough (now with the help of my team) to be able to talk you through all parts of the plan you need to consider.
Flags deal with all aspects of your life, and the strategy really embodies our idea of going where you’re treated best. When you plant your flags intelligently, you’ll be diversifying, optimizing, and taking control over all aspects of your life.
BECOME A CITIZEN OF THE WORLD
STRATEGIES: SECOND RESIDENCE AND SECOND PASSPORT
Having a second residence in another country is a great way to diversify away from your home country, pay less in taxes, and possibly obtain a second citizenship. It means you’ll always have someplace to go if things get bad at home. (Imagine how many people throughout history would have loved to have an escape hatch.)
Getting residency isn’t hard, and if you’re looking to truly escape your home country, residency is an affordable path to a second passport. With a second citizenship, you’ll guarantee yourself the freedom to travel where you want and to divorce your government.
Second citizenship can also be obtained through an investment in a country’s economy or through your ancestry. You may qualify for a second passport right now and not even know it.
MOVE YOUR MONEY TO A SAFE PLACE
STRATEGIES: OFFSHORE BANKING AND OFFSHORE GOLD STORAGE
While casually dropping “my Hong Kong bank account” into the conversation at a party may make you sound like an international man of mystery, keeping some of your assets in offshore banks and offshore vaults is the important first step in internationalization.
If all of your money is in one country, all it takes is one angry bureaucrat to push a few buttons on a computer and seize or freeze your cash. And while banks in the western world insult you with their tiny interest rates, many foreign banks actually pay high yields as high as 10%.
Having money in another country also allows you to reduce your sovereign risk by holding multiple currencies. It’s not just sexy, it’s good diversification.
REDUCE YOUR CORPORATE TAX BILL
STRATEGY: OFFSHORE COMPANY
An offshore corporation is your ticket to building a real business that pays reasonable tax rates – if it pays any tax at all. As a global entrepreneur, you can choose where to set up shop based on the free market, not arbitrary geography. You don’t have to base your business in your home country if it doesn’t make sense.
Plenty of countries are rolling out the red carpet for entrepreneurs. You can enjoy many of the offshore benefits big corporations do completely legally. I believe you don’t owe any country a claim to your business if they haven’t earned it.
You can legally and easily move your entire business overseas, from bank accounts to merchant accounts to web hosting. Plenty of consultants, e-commerce businesses, and digital nomads do this to pay zero in tax where they live… and it’s all 100% legal.
LIVE WHERE YOU WANT
STRATEGY: LIVING OVERSEAS
Living the expat lifestyle is one I personally enjoy. As a perpetual traveler, I’m free to spend time in some of the best countries on earth… then leave to go somewhere else. Along my travels, I’ve spent time in a lot of places that made me say, “I could live here.” Additionally, I’ve spent extended time in multiple countries and found the experience more enjoyable than life in the US. Nomad Capitalist
Beyond living away from your home country is the issue of your citizenship. There may come a time when the citizenship you were born with – the one you were brainwashed to believe was a gift from the heavens – becomes an albatross. This is when the idea of “expatriation” or citizenship renunciation comes into play.
If you’re an American, there are already countless tax laws that make being a US expat more difficult than it should be. When that’s the case, I don’t believe you’re under any obligation to pay homage to the country where you just so happened to evacuate a birth canal. Nomad Capitalist