How to Create an Offshore “Plan B”

nomadcapitalis...
Did 2020 catch you off guard? In a year full of the unexpected, we’ve learned the importance of being prepared. In this video, Andrew discusses how to diversify your assets and create a solid Plan B.
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.

[@PlanFree]

Been thinking about this more and more lately......probably others are too.

[@gaeldesmontagnesnoires1711]

Buy Bitcoin annnnnnd... you're done.

[@ballballsoo]

Very true, although people in Hong Kong were always worried about the Chinese Communist Party, noone foresaw the audacity they would show to swoop in during the global chaos of the pandemic and the colossal changes that would take place this year with the security law. The sudden loss of basic freedoms and dark fearful mood in a declining territory is palpable and a third of Hongkongers are planning to leave. I have many friends there who are now scrambling for foreign citizenships but face a 5 year wait at least, plus the fact they can't travel to much of the world now to get the ball rolling. You can't trust any government, whatever you think is unlikely any time soon, really can happen.

[@joenicedj]

This is an excellent video. The more I watch these videos, the more I feel like my long-term future is not in the United States. I have citizenship in the USA (via naturalization), the United Kingdom (by birth), and Trinidad and Tobago (through descent). I am gathering the appropriate documents to obtain my Trinidad and Tobago passport. A lot could be different in 18 months.

[@simonpeter9617]

Great ! Does trinidad have naturalization stream for citizenship?

[@joenicedj]

@@simonpeter9617 yes. - Commonwealth citizen, you must have had Resident Status and be residing in Trinidad and Tobago for at least five years before the date of application. - non-Commonwealth citizen, you must have had Resident Status and be residing in Trinidad and Tobago for at least eight years before the date of application.

[@simonpeter9617]

@@joenicedj appreciate the feedback , wish all the best

[@joenicedj]

@@simonpeter9617 likewise brother. All the best for you and yours.

[@simonpeter9617]

@@joenicedj i am thinking of Haiti

[@mynamename5172]

Uruguay is closing its borders to everyone - including residents and passport holders, read that again because its crazy - until Jan 10. Just a little window into where we are going as a planet. St Lucia's passport is looking better and better, we all need travel documents from places that are small and not super reactionary and/or organized about stuff. Closing borders to passport holders is really concerning.

[@MegaBallPowerBall]

My Namename It's against international law for a country to refuse admission to their own citizens.

[@ProductionJunction1]

Grenada closed its borders yesterday. Small, large…it’s the same.

[@citiessportsbar6475]

love this dude, very informative for the upcoming 7 or 8 figure self made individuals in the future. 100

[@BucketListTravellers]

Good idea about taking incremental steps along the path. I like the thought of having bases around the world where I can feel comfortable that I'm home.

[@adammoore7447]

Nice video...I'm not a multifigure entrepreneur (yet), but I live outside the US and plan on leaving it forever. I appreciate your content :)

[@adammoore7447]

@@mmuonemechekwubeugochukwu7425 Impersonator/spam

[@mtaylor3391]

beware of "Nomad Capitalist" in the comments giving phone numbers to call, he's not the Nomad Capitalist in the video.

[@jmc8076]

Thx. Also crypto/BTC trading scams in comment sections. Starts w/one person pushing them as investment w/a lot of likes then replies full of comments saying how good a certain trader is and others asking how to contact them. Same format every time. Did some research and these ‘traders’ are scam artists from Asia w/two already charged. BTC and crypto can be good investments but like everything do your homework. TSX has new BTC fund on its exchange.

[@SexyGreek26]

Im an Australian with a dual citizenship (EU passport through my parents) -- and we havent been able to leave Australia since March - nanny state much???!

[@calvinfarrow5885]

I'm seeing a thriving business in meeting people off shore with my Yacht, and transportation to freedom.

[@PaPa-ko1vg]

Why can't you just leave with EU passport?

[@juki3451]

In Ontario you are taxed 1.5% on all transferred wealth from any inheritance. Since real estate is an overvalued here, who wants to pay approximately $20 000 for the average property inheritance. Nothing but a cash grab by the government. It makes me sick the amount of taxes we pay, the high cost of living, the detorriation of standard, over crowding our cities, & tax upon tax upon tax. I'm really thinking of plan b....an exit strategy.

[@midlifecrisis7888]

buy hey you have yummy foods from all over the world now, that's a good trade off.

[@evadeanu1]

I agree with you. Plan B is in order. Talk to an estate planning to avoid paying thousands of your hard made money as gifts to the government just because you die.

[@createyourreality1111]

I live in Ontario and I'm considering leaving as well.

[@indetif839]

@@createyourreality1111 Good, leave!

[@indetif839]

YOu must not have lived in other countries. I have lived in Canada for 16 years. It is one of the more sane countries.

[@Surgebrawlstars693]

I understand you work advising people who have 6-7 figures businesses but are these strategies something that also work for smaller so-called lifestyle businesses? With less than $1M/y in revenue?

[@yorkpa3767]

I certainly think they do if you want to become a 6 or 7 figure business in the future

[@Surgebrawlstars693]

@@yorkpa3767 I think you’re right, I just don’t know if this is something you should do at the early stage of a startup when you still don’t even have enough traction to get VC investment and are wondering if bootstrapping longer as an offshore company is the right path..

[@justonemorestitch]

I think they certainly do even if you are an under 1M. At the end if the days its all about planning and focus. Just like any other aspect of our life.

[@rubensnogueira5838]

It absolutely works for anyone. The only difference might be the overhead cost vs. tax reduction, which can be less profitable for someone with lower income.

[@scoutsout_aroundtheworld1015]

I was wondering the same thing! I guess it starts with taking the same types of steps as those with more wealth. Also, I’m sure it’s much easier for him to work with those who have the means.

[@tandanielle3875]

Are you seeing many Canadians getting a CBI? I'm just curious. Thinking of buying property in Mexico and applying for temporary residency. The country is going in the wrong direction to say the least.

[@onatkib]

Bitcoin used to be my Plan B - now it's the Plan A.

[@cheryls832]

I understand the benefits of the second passport. It seems like more countries will increase taxes. What would you do if you were required to pay taxes in both countries?

[@nomadcapitalist]

We covered that here: kzbin.info/www/bejne/f16Qn6FsgauioKM

[@cheryls832]

@@nomadcapitalist Thank you!

[@awaytoanywhere699]

look up “Bø” municipality in Vesterålen islands, northern Norway. they are lowering their taxes to create a new Monaco, according to their mayor. very dark half year around due to the high lattitude around the polar circle) but you might find it interesting.

[@Truther945]

I would love to learn more about this opportunity, where could I??

[@awaytoanywhere699]

Norwegian newspapers I presume. I am not Norwgian, try some search engines. I know the NRK, norwegian state television made a tv clip about a short while back.

[@xandl413]

Trank you for this Info!

[@swardinc]

that a shame to think that could happen in the USA supposal the most free place on earth

[@artoriaspendragon8880]

Hi Andrew am new to your channel and am loving your videos. Have a question. Can you still trade in the stock market from some of the locations you have mentioned before or latin countries? How would that work? Thanks.

[@tiamisrahi6226]

thanks for this vid. Love

[@createyourreality1111]

Ontario is going into a lockdown on Christmas Eve. What is happening in Canada is really scary and I'm starting to think that it is time to consider moving to another country.

[@indetif839]

Good. We who like Canada will be happy to rid ourselves of people who dont like it here. Good riddens!

[@Lorenzconnok]

I imagine you report plan B bank account(s) to the IRS yes?

[@cathihargaden1608]

I think 🤔 you’re a closet Feng shui consultant 🙌🥳🥳

[@successandlifestyle]

This is a great summary!

[@928gto]

Yap.

[@TanyaRadic]

We will be in our place in Belgrade this summer. Hope to meet you in person !

[@amir5593]

best content like always. 💚💚💚

[@OfficalJumperKanal]

Just heard about an interesting theme, camouflage Passports (I know illegal in US but not in EU, and very useful vor high risk situations in 3rd world countries. Would love to see a video from you about that :)

[@Xenthoid]

He says he is the goodie two shoes of the offshore world so he wouldnt like it.

[@OfficalJumperKanal]

@@Xenthoid why? he often mentioned how to deal with situations in dangerous countries, they were developed for exactly that case...

[@ballballsoo]

'novelty' passports for fun are fine, anything fraudulent isnt! I imagine the EU takes the view that since these things arent impersonating any real country it is like Monopoly money and not fraudulent

[@OfficalJumperKanal]

Check camouflage passport and the history behind them. Nothing fraudulent at all. Just safety

[@motecho6876]

Andrew What's your advice on moving into or visiting a country like Malaysia which has closed for pandemic lockdown?

[@danielj3010]

Awesome vid.

[@adhaninvestmentgroupltd.111]

I come from Kenya, and the current government has been becoming more and more rapacious when it comes to tax collection and sweeping up revenue of wealthy individuals out while protecting those within close ranks with the government, so thinking of making a plan B of residence and offshore banking, do Africans get treated the same when you wish to pursue such alternatives?

[@farceadentus]

You will find that the world outside Africa is not as corrupt as Africa. Africa is unfortunately quite the shitehole, rife with corruption. Anywhere outside of Africa is better than Africa and you will be fine.

[@amir5593]

KZbin should manage these bots, as many channels are bein attacked.

[@sebas8225]

If those channels had lawyers KZbin would stop it.

[@djouallahfethi7910]

Thank you

[@nomadic-mind]

@Nomad Capitalist Are you at all concerned about the Caribbean countries losing their visa-free travel to the Schengen area because of their CBI programs? This is the one thing that has been nagging me in the back of my mind about those options.

[@nomadcapitalist]

Not particularly, and residence in the EU is easy enough to get.

[@hilawes]

Change your name to Galt’s Gulch Nomad Capitalist 😉😜

[@1stfacts542]

Just be careful about China.. Seriously be careful. It’s at a point that it’s better to pay someone else there if necessary. Don’t put yourself in a situation where you cans just disappear... Be careful.

[@dr.winner2516]

What?

[@gaeldesmontagnesnoires1711]

Buy Bitcoin annnnnd ... you're done.

[@ahmedglobal2088]

Excellent video 😎

[@ericeverson5956]

The PROGRAM & the people that run it are the Problem. President's don't do anything that the program doesn't want them to do.

[@jrnycrypto5262]

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[@user-lh5nq7gw5b]

It goes without saying that the cornerstone of every successful investor is usually the broker.

[@user-zh1bc1wr9y]

@@user-lh5nq7gw5b His intriguing strategies cuts down loses and ensures profits. Mr Michael Armstrong truly is a genius.

[@user-uv9cf2ft7b]

@@user-zh1bc1wr9y Wow, amazing to see other investors of Mr Michael Armstrong, I'm on my 3rd trade with him, his strategy has no rival.

[@user-sm4gm8ew5x]

@@user-uv9cf2ft7b You could easily record losses in stock trading if you are not an expert, that's why i recommend Mr Michael Armstrong to anyone who is interested in making profits.

[@benson.crypto.459]

@@user-sm4gm8ew5x How can i contact him?