How to Live in Three Countries and Save Money

  Рет қаралды 42,476

Nomad Capitalist

Nomad Capitalist

Күн бұрын

Пікірлер: 98
@TheMichaelMove
@TheMichaelMove Жыл бұрын
Nice to wake up to Andrew’s squinty blink. Keep up the good work!
@nomadcapitalist
@nomadcapitalist Жыл бұрын
If you think that's a compliment, we pity the world you live in.
@TheMichaelMove
@TheMichaelMove Жыл бұрын
@@nomadcapitalist wow. Folks you are using this channel as a business development tool are you not. Not to get into too much detail but I fit your client profile and am planning to check out Malaysia next year based on Andrew’s recommendation. It’s clear this was intended as a term of endearment. I wouldn’t let one tone deaf reply on your part affect a business decision but whoever wrote this really needs to take a deep breath before hitting the reply button.
@homodeus8713
@homodeus8713 7 ай бұрын
Which is rather cute, if I may say so! 😅
@homodeus8713
@homodeus8713 7 ай бұрын
@@nomadcapitalistIt’s rather endearing. Not sure it was meant as an insult.
@jhileman
@jhileman Жыл бұрын
R.I.P. green marker !
@nomadcapitalist
@nomadcapitalist Жыл бұрын
Finally! 😄
@hbq83612
@hbq83612 Жыл бұрын
😂😂😂
@JuanMaldonado-ik8lg
@JuanMaldonado-ik8lg Жыл бұрын
Andrew, what are the citizenships/ passports that you currently hold?
@markbernhardt6281
@markbernhardt6281 Жыл бұрын
Thank you Nomad Capitalist for solving the black marker problem!
@nomadcapitalist
@nomadcapitalist Жыл бұрын
Haha, you're welcome! ❤️
@jsbarto1
@jsbarto1 Жыл бұрын
I always get something good out of your videos! I already have my Irish passport, but if I were to move from the USA to elsewhere in Europe, I would seriously consider Switzerland due to the high quality of medical care there...I am older, and having top-notch medical care rivaling, or better than what I have access to now, is a key consideration for me...
@jamessweeney037
@jamessweeney037 Жыл бұрын
Austria has great Medical Care also, while being cheaper everywhere else.
@martinsjogren4366
@martinsjogren4366 Жыл бұрын
@@jamessweeney037 Austria is a tax hell though, so factoring in taxes Austria is way more expensive than Switzerland.
@jamessweeney037
@jamessweeney037 Жыл бұрын
@@martinsjogren4366 how so ?
@martinsjogren4366
@martinsjogren4366 Жыл бұрын
@@jamessweeney037 On incomes, in Austria, first you get social security taxes paid by the employer and the employee which amount to 39% in total. Then income tax where the highest band is at 55%, plus payroll taxes on top of that. You also have 24% Corporate income tax, and 20% VAT. And there is tax if you buy real estate, and annual tax every year you own real estate in Austria.
@ssuwandi3240
@ssuwandi3240 Жыл бұрын
Well sounds like classic Europe. Pls don't compare with criminals rampant open border USA
@taniamatthews3058
@taniamatthews3058 Жыл бұрын
Thank you Nomad! I never thought of leaving my country until I found your channel during the pandemic. I am interested in relocating, however I have no funds saved and would love some advice on “where to move”, the easiest/realistic options. 2: If I have Irish decent can I move to Ireland? I was pushing for Mexico because it’s so close. (For leaving or coming back) Now my eyes are open to other countries. Thank you!
@MH-et5sn
@MH-et5sn Жыл бұрын
Only if your parent or Grandparent were born there. They may make an exception for a great-grandparent. I'm getting mine soon through my Grandmother who was born there.
@pinetworkminer8377
@pinetworkminer8377 Жыл бұрын
@@MH-et5sn there = Ireland?
@GUIGuyify
@GUIGuyify Жыл бұрын
The overall nominal marginal tax rate in Ireland is 52% once you go above €40000. While ‘income tax’ itself is 40% you have to pay other taxes (USC & PRSI) and these take you up to 52%. You can reduce your income tax bill by making pension contributions but this can only be offset against the 40% not against the other 12%. On 100k you should expect to pay about 40k in tax in Ireland.
@icmull
@icmull Жыл бұрын
Thats fucked. I pay 47% in Australia but thats after $200k
@andreybabushkin4689
@andreybabushkin4689 Жыл бұрын
52% starts after 70k when they start to take 8% of USC, so 40% PAYE, 8% USC and 4% PRSI. Still don't understand how come we live in a world where such tax rates are possible 🤯
@alexa.7116
@alexa.7116 Жыл бұрын
Great video!! Probably my favorite, but also long overdue video. You haven’t talked much about Cyprus in your videos, it was always a bit of an afterthought, but it deserves more attention. How about the IP regime? Brings your taxes down to 2.5%, that’s amazing!
@mzk9153
@mzk9153 Жыл бұрын
I work as a tax consultant in Dubai , it isn't tax free completely. You need to look at facvtors such as compliance for local laws that need accountants , licensing cost for your business and now with corporate tax it is all added cost for businesses that are set up here etc. It is a friendlier business enviroment for service based businesses and individuals.
@aa1a2215
@aa1a2215 Ай бұрын
If a crypto day trader (only trading my own money) moves to Dubai needs to pay the 9%? Because it's my main activity. Thank you
@mzk9153
@mzk9153 Ай бұрын
@@aa1a2215 You wouldn;t considering you are trading personal assets and there is no capital gains tax in the UAE.
@jamesc7400
@jamesc7400 Жыл бұрын
I have heard that Thailand is making big tax changes come January 2024
@markbernhardt6281
@markbernhardt6281 Жыл бұрын
Isn't TL still under rule of yet another military coup? @@davidrichards1741
@jamalgreen3056
@jamalgreen3056 Жыл бұрын
Before I started watching no mad capitalist I didn’t think much about diversification let alone how to go about it it’s always a better deal to have a plan b and to utilize your alternatives the best way possible
@darovi
@darovi Жыл бұрын
Can you make a video about Philippines? I've been doing some research and it's very complex. Apparently you could move there and stay up to 3 years with a tourist visa. After 183 days you become a tax resident or, as it's called, a non-resident alien engaged in trade or business (NRAETB), which allows you to only pay taxes on income from Filipino sources. I want to know if this is true or not. Other than that, I love your content and once I become a 7 or 8 figure entrepeneur I'll for sure be another of your clients 🫶
@nomadcapitalist
@nomadcapitalist Жыл бұрын
Thanks for the suggestion! We will be happy to serve you.
@Optioning
@Optioning Жыл бұрын
@@nomadcapitalist curious if Philippines passport is even worth having if its applicate to US citizen? seems like a low ranking passport
@Evansteven244
@Evansteven244 Жыл бұрын
Very informative thank you Andrew!
@nomadcapitalist
@nomadcapitalist Жыл бұрын
Glad you enjoyed it!
@dennismccarthy7032
@dennismccarthy7032 Жыл бұрын
A free pdf book "The great taking" a must read for you and your clients . Thank you for your good work Andrew .
@PENTHOUZZE
@PENTHOUZZE Жыл бұрын
thank you for the book recommendation
@tawandamutukwa5196
@tawandamutukwa5196 Жыл бұрын
this is brilliant thank you for the video Andrew!
@nomadcapitalist
@nomadcapitalist Жыл бұрын
Thanks for watching!
@jonathanblack3
@jonathanblack3 Жыл бұрын
Sensational marble splashback in the kitchen !
@homodeus8713
@homodeus8713 7 ай бұрын
Non doms in the UK now have to pay tax
@AlbertRossvids
@AlbertRossvids Жыл бұрын
Can you still file non dom tax returns in Ireland if you are an Irish citizen but have never lived, worked, paid tax or been domiciled there? Or does citizenship make you domiciled?
@BoredManOnline
@BoredManOnline Жыл бұрын
Do you pay tax if you form your company in Ireland (or register as self employed) but use bank accounts in another EU country (like TransferWise) and only deliver products and services to customers in other countries (online businesses)?
@martinsjogren4366
@martinsjogren4366 Жыл бұрын
Depends on where you live. If you dont live in Ireland, the irish company would just pay Irish corporation tax. It doesnt matter where the bank accounts are though.
@dan-in-asia
@dan-in-asia Жыл бұрын
Thanks. Good video. I am working on a three factor myself at the moment, including TH and MY. However, things are getting a bit more complicated for non DOM setups as well. Sadly a trend I see in SE Asia. Would be great if you could cover that in a video too ❤
@donnadigangi7148
@donnadigangi7148 Жыл бұрын
If you are traveling around and have no physical address in the US for your home and moving weekly, how would you fill out the upcoming BOI FinCEN? You have an address for your LLC (or sCorp), but not a home. Gosh this is difficult. I would love to see a video on dealing with this and also banking when traveling.
@lafayetteporter6044
@lafayetteporter6044 Жыл бұрын
Aren't they also overlooking the cost of living. The cost of living in some countries can be higher than what you would pay in taxes in your own country.
@Chris-gs7cq
@Chris-gs7cq Жыл бұрын
Depends where you start. Australia has high taxes and high costs. Romania has low taxes and low costs. Often high tax countries are also high cost countries.
@Chris-gs7cq
@Chris-gs7cq Жыл бұрын
It's certainly true that a country like România with 10% tax is cheaper than UAE with 0%. Costs are important.
@rubensnogueira5838
@rubensnogueira5838 Жыл бұрын
If you spend everything you earn, correct. But if you spend only 10% of your income, income tax savings will be far bigger than your "inflation"
@lafayetteporter6044
@lafayetteporter6044 Жыл бұрын
@@rubensnogueira5838 Dubai is crazy 🤪 expensive.
@gpsoftsk1
@gpsoftsk1 Жыл бұрын
@@Chris-gs7cq But this channel is apparently for 7-8 figure earners so for them, the cost of living is not a big deal. But if you make a normal, more common, reachable income (let's say 50k or 100k), then, of course, 10% tax is cheaper with a low living cost.
@ks031988
@ks031988 Жыл бұрын
If I work a U.S remote job can I work outside the U.S. all year if I never become a tax resident in any other countries? Would I only be liable for U.S. federal taxes in this scenario?
@ConorBradshawVideo
@ConorBradshawVideo Жыл бұрын
@nomadcapitalist Can I be non-dom in Ireland as an Irish citizen whilst living most of the year in the US?
@jeannettepatten7670
@jeannettepatten7670 Жыл бұрын
I have a son in-law who has worked in the US for over 2 years. The majority of time is in the US compared to days off in Alberta, Canada. Any comments on green card and taxes?
@kostasg7109
@kostasg7109 Жыл бұрын
How about Greece? You hardly ever talk about Greece.
@maxflight777
@maxflight777 Жыл бұрын
wealthy greeks don’t live in Greece ! there is a reason
@y0chucky
@y0chucky Жыл бұрын
please make a video oriented towards people with EU passports and not just americans
@saveandinvestwithgiorgiolo8375
@saveandinvestwithgiorgiolo8375 Жыл бұрын
It is highly likely that Non dom tax status will be removed from the UK if the Labour Party wins the next election (which looks almost certain)
@paulietv2162
@paulietv2162 Жыл бұрын
Look almost certain, in your dreams
@saveandinvestwithgiorgiolo8375
@saveandinvestwithgiorgiolo8375 Жыл бұрын
@@paulietv2162 You obviusly have little idea of what is happening in the UK.
@paulietv2162
@paulietv2162 Жыл бұрын
@@saveandinvestwithgiorgiolo8375 Yes I know what is going on in the UK - people like you are easily being brainwashed by the hard left BBC into voting for Labour lunatics
@dlc2479
@dlc2479 Жыл бұрын
​@Adam89898 When have politicians ever worried about what they need to? To make matters worse, the PM and his wife were recently exposed for using the non dom status so it's very much a political tool rn
@gavnonadoroge3092
@gavnonadoroge3092 Жыл бұрын
countries also have ancient tax hack, foreigners move there, and then assets get confiscated with new laws, like it happened in cyprus
@brunoheggli2888
@brunoheggli2888 Жыл бұрын
I hope they take everything from him!
@dlc2479
@dlc2479 Жыл бұрын
Or there's an influx off tax avoiding immigrants due to channels like this and then the government rolls the schemes back...
@MarkWatsonSMTX
@MarkWatsonSMTX Жыл бұрын
Jimmy Carter is a genious.
@hemantparakh6462
@hemantparakh6462 Жыл бұрын
Free Food is an Ancient Tax
@johnM-Jr
@johnM-Jr Жыл бұрын
How do some politician squirrel away in offshore havens and then be able to spend it. Namely pelosi or hunter.
@ARUchannel1
@ARUchannel1 Жыл бұрын
They have multiple passport and black credit cards... Not so much science
@garrettmgunderson
@garrettmgunderson Жыл бұрын
It's illegal, they're just evil and likely won't be prosecuted.
@calvinspiff4348
@calvinspiff4348 Жыл бұрын
Taxation is theft. This is the most American thing to do. "This is the way."
@victoriag3043
@victoriag3043 Жыл бұрын
Any suggestions for a good country to save in taxes for someone who does day trading in the NY market place.
@spicysalsaking791
@spicysalsaking791 Жыл бұрын
Start with Puerto Rico
@Chris-gs7cq
@Chris-gs7cq Жыл бұрын
Countries that don't tax offshore capital gains: Malta, Cyprus, Georgia, Uruguay, Philippines. Low rates: Peru 5%, Romania or Bulgaria 10%.
@ellandill
@ellandill Жыл бұрын
@@Chris-gs7cq It doesn't matter they don't tax if you don't live there and violate CFC rule
@brunoheggli2888
@brunoheggli2888 Жыл бұрын
How about Sweden!You pay high taxes but its nice!Or the Netherlands or Danemark!
@Scully331
@Scully331 Жыл бұрын
What are your thoughts about getting citizenship in Poland? Thanks
@VapourSword
@VapourSword Жыл бұрын
Thailand will start taxing foreign income in 2024
@markjonz
@markjonz Жыл бұрын
AIUI, on money brought into Thailand, ie on a remittance basis. But this is Thailand so who knows what will eventually happen, if anything
@CAPTALISM
@CAPTALISM Жыл бұрын
I feel like this channel is only for wealthy people. Most people don’t even make a million ever, let alone save millions in tax.
@johnM-Jr
@johnM-Jr Жыл бұрын
Correct, it is for the rich.
@Denver_____
@Denver_____ Жыл бұрын
Correct, which is nice, since there aren’t a lot of stuff for us on KZbin.
@paulietv2162
@paulietv2162 Жыл бұрын
Also it is for people with weird tax systems like the Yanks who run up against all kinds of problems and headaches involving taxation. Normal people who live in civilised countries get tax deducted from their income and don't have to worry about all this IRS garbage, simple. So most of what this guy says involving tax goes right over the heads of most people around the world - it is simply not relevant to us. I have worked remotely from 4 different countries in the last 3 years, paying tax in my home country as usual, and my government was none the wiser and the governments of the countries I were working in were none the wiser too.
@Chris-gs7cq
@Chris-gs7cq Жыл бұрын
He has occasional videos on where to live on $1000 a month. You can learn a lot watching. If you want the cheapest options - Georgia, Ecuador, Bulgaria.
@series9193
@series9193 Жыл бұрын
Take from it what applies to you remember the number 1 adage :Go where you’re wanted, also the tips on residency crime social interactions don’t apply to just the rich
@FRESHSNKRZ
@FRESHSNKRZ Жыл бұрын
1st comment and view
@nomadcapitalist
@nomadcapitalist Жыл бұрын
🎉
@FarhanAbroad
@FarhanAbroad Жыл бұрын
This this AI VOICE isn’t it?
@sotecluxan4221
@sotecluxan4221 Жыл бұрын
OMG!
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