How to Legally Pay Zero Taxes Anywhere

[@nomadcapitalist]

The latest episode of our Live Like a King series has dropped! Join Mr. Henderson as we explore luxury living in one of the best value cities in the world-Kuala Lumpur, Malaysia: kzbin.info/www/bejne/nnjZmH1ne76Iors

[@chdk55christidonny6]

GENIUS TRUTH TELLER, SMART, SHARP, FAST, PRECISE

[@kefren191919191]

I can't explain how valuable is your FREE content, I really appreciate you.

[@nomadcapitalist]

Thank you.

[@Rob-k3j]

@@nomadcapitalist Doesnt a llc overseas you bypass US taxes?

[@zar-party]

In Germany we ironically say that if your toothbrush is in Germany, you are a tax resident of Germany.

[@makeyourlifeeasier5794]

Hahaha...Just proves the Dentist Drill & Bill is less painful than the government tax man...

[@hugovaz777]

Still paying the absurd Balfour Declaration

[@369-n2e]

Everybody pays taxes in one or another way... This is 🐂 💩

[@ChristianGerner]

So true 😂

[@leslieknope4775]

Ive read that if you have belongings in Germany (as german) you have to pay Taxes here. 😢 best wishes from Stuttgart 😊

[@Kyd_Hype]

THANK YOU FOR BEING THE FIRST PERSON TO USE CANADIANS AS EXAMPLES! I always comment and DM about this as a Canadian and I obviously never hear back

[@nomadcapitalist]

Thanks for watching.

[@rubiooibur8534]

ALL CAPS? must be important 😂

[@KonstantinosKattidis]

Great content. My preferred structure: Setup a company in a zero or low tax country. Live wherever you want and pay yourself minimum income from your company and pay tax only on this income. Invest through your company.

[@denisp1277]

👍 I would say 'live wherever you can' 😅

[@gnorts_mr_alien]

and how do you spend your money? not for investment but fun?

[@KonstantinosKattidis]

@@gnorts_mr_alienAny additional spending can be taken as dividends at any time. This amount will be liable to dividend tax.

[@KonstantinosKattidis]

@@gnorts_mr_alien As the 100% shareholder of the company, any extra spending can be paid as dividends. Of course this amount will be liable to dividend tax.

[@PeterResponsible]

This approach may have issues. For example in EU you can't legally set up a company and operate it from a different country (even within EU). There's a law that says the tax residency of companies is wherever HQ is (a place where most important decisions are made). So even if I have Irish company but never go to Ireland as a director, the company is due taxes in the country where I live. This may be hard to impossible for the state to prove - but the question is what's legal, not what the state can prove or not. This is effectively what he mentions in the video when he said OECD countries can suck you in even when you try hard not to let them.

[@Mathuag]

step 1 - have money

[@stellarmind69]

Step 0 - Inherit Lets kep it real, only a fragment of the wealthy made it thru their own drive, most oft them just are rich per default. Feudalism at its best.

[@DroppedGoat69]

lol and enough worth trying to save !

[@MasterCamus]

If you don’t have then you dont pay tax 😁

[@jakleo337]

I pay zero taxes because I don't file a tax return. I have a poverty level income as far as they can tell. Edit: I pay zero INCOME tax. I pay sales tax all the time. And tipping is a form of tax. And toll roads are a tax. And others. I ask no for no welfare or SS payments from the government. I do not 'live like a king' or a prince. Wise men throughout the ages have chosen to appear as commoners. I follow that principle.

[@quitenice5450]

Maybe dont brag on the internet about it

[@renelopez2244]

Awesome

[@Mariasanchezz235]

Nice

[@soulreed]

Well in that case.....you're welcome. For all the benefits you receive from My income taxes

[@ROKKANS]

@@soulreedyou should give the welcome to the illegals and Ukraine, not a random person who’s figured out how to keep more of his own money, also contributions are still made while living inside the states, normally way more than someone working a 9-5 and donating to Uncle Sam. So matter of fact, YOU are welcome

[@makeyourlifeeasier5794]

My Dad found out how to completely stop paying taxes to the US at age 60...He died.

[@heavenismydomicile3280]

My dad died at 77,RIP DAD

[@jimreimers4213]

How about you? Did you learn how? It is possible. (In the US)

[@tr0wb3d3r5]

💀💀💀

[@jimreimers4213]

@@makeyourlifeeasier5794 it is possible if you want to learn free of charge

[@livelovelaugh2130]

Nah. He was still in for estate tax

[@nomadcapitalist]

Would you like to learn in-person from the experts about how to legally reduce or eliminate your taxes while capitalizing on opportunities around the world? Join us for the next Nomad Capitalist Live event: nomadcapitalist.com/live

[@autonestegg4195]

@@nomadcapitalist will be in touch after I make my first million

[@karmamoksha369]

@@autonestegg4195 @nimadcapitalist team I want to waork with you from Bharat 🇮🇳, how can I connect? I have done student visas and helped students in Canads get federal lawyers against racisum and permanent settement as they become Tax residents and Canadian government (CIC) kind of tryed to do illigal work by fooling inncocent international students from India who have clean record. I have many connects in Bharat 🇮🇳 who are business people willing to relocate to TAX free countries. Would be glad to hear. I thank you nomadcapitalist team for giving us so much information which skilled me in various immigration and investment based residency through your KZbin channel. Better than any MBA or PHD can teach 🙏🏼👁️🪐👁️

[@ELITETRADEr294]

breaking news , Trump to end over seas double taxation ,

[@goofballbiscuits3647]

This is my new favorite video of yours. Wonderful summary of macro and micro aspects that many of us wanted answers to. I know many remote islands of knowledge in this realm but this tied down really how it's done in a streamlined praxis. Thank you!

[@mt.sinairefuge5360]

I have lived in Peru for 20 years and never paid taxes and never been asked to pay taxes.

[@neodurden6793]

I have no problem to "pay no taxes". But I have a problem then if you benefit/use any form of public wealth that a country puts for their tax payer citizens.

[@Solizeus]

@@neodurden6793 Because it isn't fair that some people get robbed and others not and they even benefit from the services paid with it even though they didn't asked for it?

[@CannyValley-bi8nq]

@@neodurden6793 does VAT exist in PERU. Indirect taxation is everywhere...

[@neodurden6793]

@@CannyValley-bi8nq yes. VAT on goods and services you pay is, indeed, the one impossible to evade. The argument was more focused on all the others I guess

[@IsaacWyatt-z8j]

@@Solizeus would you accept a roommate that doesnt pay rent and bills ?

[@paulcoates3860]

Great, I could listen to your vast information every evening, mostly do, I learnt so much

[@nomadcapitalist]

Glad you enjoy it!

[@caldepen372]

I think for clarity you don't necessarily need to become a non-resident for tax purposes and pay that exit tax, if you move to a country that has a tax treaty. So for example, with Canada, I could move to Italy and live in one of the regions that have the 7% flat income tax (Sardinia, Puglia, etc.) for 10 years and pay my income tax there and not in Canada. I just cannot be in Canada for more than 6 months in any given year. That is how I understand it!

[@jen8063]

South Africa is switching their visa system to crack down on this sort of thing so take care with your decision making

[@jiti5034]

To be able to stay in Italy what kind of visa can you get though ?

[@caldepen372]

@@jiti5034 Check out - Elective Resident Visa. For people that don't need to make money in Italy. If you have investment or rental income for example.

[@alexsanchezch]

That is correct

[@rubiooibur8534]

@@jiti5034 work visa or schengen visa

[@1QUIETWARRIOR]

This program is appreciated. It has really opened my mind up to an alternate perception. I don't have that level of financial resources yet, but as soon as I do, I am definitely contacting your organization.

[@fillmorehillmore8239]

I had a fear of being the visual minority in another country and now I am becoming a visual minority in my home country. Dipping my toes into possibilities since I might as well embrace and melt into some other nations culture vs living in a nation of multiculturalist aspiration.

[@crescentprincekronos2518]

that's because things like that matter to you. have you ever thought of how the other people feel?

[@L_MindBody]

He doesn't need to in his own country & I doubt if any migrants think about him. It's called humans​@crescentprincekronos2518

[@jstdrv]

Who cares​@@crescentprincekronos2518

[@BEEFBRSKT]

Why would you care about how they feel?​@@crescentprincekronos2518

[@marcusantoninus1838]

​@@crescentprincekronos2518 Things like that matter to all the countries these people emigrate from. Don't act like it's not normal.

[@corithefrugalflower]

"They'll find you..." Very true today more than ever before. Thankyou for your 'wealth' of information on these topics! 👌

[@nomadcapitalist]

Our pleasure.

[@earealestate2961]

Congratulations on this incredible achievement! Your dedication and hard work really shine through.

[@andrewkerr5296]

As far as Income Tax goes, here in Australia just write to the ATO an ask them to define 'Income' as you need a Definition in order for you to file your return properly as there is NO definition in the Tax Assessment Act They won't & can't, which then creates an Est opal

[@michaelcryptomooningloa8436]

Thanks Andrew. So do you pay tax or you avoid it just via that question to the ATO alone … I’m intrigued. 🎉😊

[@andrewkerr5296]

@@michaelcryptomooningloa8436 It depends if your PAYG there really isn't any point as you're paying withholding. I'm a Sole Trader so I'm not paying any withholding at all, I haven't done a return so far for 2 years. Unfortunately though everything you buy in this Country retailers add on Taxes, so your still paying Taxes regardless. YT pretty much deletes all my comments regarding topic

[@andrewkerr5296]

@@michaelcryptomooningloa8436 YT keeps deleting me comments

[@dharmadasa66]

@@andrewkerr5296 What is an 'Est opal'? Tried Google which did not help.

[@andrewkerr5296]

@@dharmadasa66 Hard to explain but it's basically a halt in proceedings because one party can't provide fact(s) & or rebuke fact(s)

[@user-he8nu2ic1h]

Is there a list of top 10 best tax residencies by Nomad Capitalist? Like purely based on the simplicity of the system and low tax rates and the connectivity to the global banking system. Out of those one could then choose which country feels the nicest.

[@edheldude]

Check out Bulgaria. EU country with 10% tax rate, and they don't care if you actually live there or not.

[@timmyecarter3449]

Thanks for providing info for those of us who don't qualify for 7 figure status. 😊 It is greatly appreciated. However, relocation of any kind is daunting. Have you ever considered offering 'simpler' services for 6 figure clients? A 'lower' tier option assisting with less complicated relocation? For example, offering relocation to specific countries that aren't as time intensive for your staff and that doesn't involve moving a business or changing tax status? I think Nomad Capitalist would make quite a profit from tapping into this clientele. Sure, it's less money per client, but MANY more clients! js.😊

[@roblox-f3j]

I really doubt he would be interested. He charges 20K before he will talk to you

[@ronyasmith]

No Taxes sounds amazing!

[@rivenoak]

the german tax relies on a simple check: if you got a german adress, you are taxed. your actual residence period means nothing if you own the place or the adress is your parent's home; your absence counts the same as if you were on a long vacation from home which means nothing at all for tax purposes. :p basically you have to cut ties with germany and only visit short term and stay in hotels. dont even try to play shenanigans with german Finanzamt; their patience to catch you lasts longer than yours :p

[@Axiomatic75]

I fled Germany 14 years ago. Haven't been back in 5 years. They'll never get another cent from me except for the fee to get my passport renewed.

[@rivenoak]

@@Axiomatic75 no problem with that as long you are absent for real and only visit family on christmas or so. no residence maintained = no taxes

[@sandrogvenetadze4511]

Currently i am georgian citizen living in Germany with permanent staying. But i can get german passport. Should i get it ? Future doesnt look that bright for germany tbh

[@Axiomatic75]

@sandrogvenetadze4511 I would get it if I were you. If nothing else, it's a good passport for travelling and you can live easily in other European countries.

[@canoozie]

I lived this way for 10 years. Moved to a place with a territorial tax system, sourced no income locally, investments in other regions where the benefits weren't repatriated where i live as that would be taxable locally. I got lucky, Costa Rica allows multiple citizenship and so does Canada. NR73 declaration from Canada that I'm not resident for tax purposes, and since my income wasn't coming from Costa Rica, no taxes locally -- just the obligatory social services contribution every month (hundreds so no issue), to maintain residency. Been here for so long that I can become a citizen with a social studies and civics focused test, but been here 13 years now.

[@YTAug2030]

Do do this only between two Countries?

[@williamtaudien]

Panama is the best. Only need to go back 1 time every 2 years to remain tax reaidency

[@user-xg6yc8ho3w]

Poooool tricks!

[@roblox-f3j]

Residence and tax residence are not the same. I live in Panama and you need to spend 183 days here to be tax resident.

[@moimoi3896]

already too much !

[@nomadcapitalist]

That’s not true.

[@reatcas]

@@nomadcapitalist I know from several US military personnel that sort of do that, maybe you can make a video about 🤔

[@masyapanama1298]

I don't mind paying a reasonable amount of taxes, just not the excessive amount I had to pay in the socialist "utopia" of Canada. Combined federal, provincial, municipal, sales etc. claimed 70% of my income. I left over a decade ago, smartest choice ever. In spite of what the hypocrites at the OECD would have you believe it is far from a tax haven. Personal and corporate taxes are 25% and a 7% VAT. It does however have a territorial tax system which means that you only need to pay on income earned in the county and not from offshore. Investments, dividends etc. are not taxed. Therefore you can greatly limit your taxes to a reasonable level. As per your no fixed residency lifestyle, if it works for you that is great, I prefer to have some roots and therefore chose to settle in a low tax country and putter about the garden and raise my own food. But you do you. BTW As to why I consider the OECD to be hypocrites, they are happy to travel the world and hector everyone about taxes, yet their own staff are exempted from paying taxes on their own income. How convenient, as far as I am concerned they can help themselves to a hot steaming cup of shut the f*ck up.

[@jen8063]

South Africa is combatting this exact problem through their visa application system after the ANC failed to gain a majority, first time since 1994, and were forced into a coalition with some brains. They've been a host for these globalist parasites since 1994 to the detriment of the locals.

[@criticalmassiveenterprise]

Good for you, glad you freed yourself. What drives me crazy are the people who think that paying taxes is somehow noble & patriotic to your country as politicians extract their wealth so they can gorge on citizen's productivity.

[@bernardocastanon5469]

how did you do it?

[@RayMaung]

St Lucia citizenship is taking longer than a year now. My wife has been waiting a year for her spousal application, which should've taken 3-4 months. Also, talking to other applicants, the interview isn't in person, but virtual.

[@nomadcapitalist]

Most interviews are virtual, yes, and it is taking longer.

[@sandwichtube]

There’s a thing called island time.

[@consciousequus]

Would like to see you do a Deep Dive into this, from a Canadian point

[@flexbillbert5802]

Hi! Big fan! Which country is the best to live in as a KZbinr? If you become very successful, where would you pay the least taxes whilst living a combatable life? I'm from England and wouldn't be looking to pay no taxes. I don't mind paying some taxes. Just not the extortionate taxes the UK asks whilst destroying the country I used to love.

[@2Hearts3]

"I'm from England" sounds so lovely and refreshing. Mostly hear only "UK" these days. 🇬🇧☕

[@alexsanchezch]

Andorra

[@drdemi]

​@alexsanchezch why?

[@alexsanchezch]

@@drdemi lowest taxes within Europe, multicultural but with European mentality and processes, great outdoors, reasonably near to a major international airport, and already home for many youtubers from Europe (mostly French and Spanish) - so, great community

[@Mehedihasan-yt6mx]

You can make videos on difference between corporate tax and personal income tax.

[@ryanwilliams3070]

One is for corporations and one is for personal income

[@jaceksuski4193]

You as an owner have to pay both taxes.

[@TaylorAMiles]

One of the best videos yet

[@nomadcapitalist]

Thank you.

[@stephenconnolly1830]

What happens if you live on a boat in international waters all year?

[@taxwayneadvisory]

you have a situation you become tax exempt the short story were did you grow up america?

[@iritesh]

in India, Sales NAVY don't pay taxes

[@adredy]

Sealand, check ❤

[@patrickzupanc1795]

Great video, thank you!

[@shawnemilefleming]

Thank you. Amazing !

[@greatcondor8678]

I was below income level and got my covid check form. It had a non tax payer box I checked and signed the form, so I am officially a non taxpayer.

[@AG.ONLINE]

Interesting to see such a popular video about what I basically what I do everyday for work

[@YouBetterThink]

For banking, just fill in one of your addresses with a utility bill on your name, even though you're not actually a tax resident of that country, shouldn't be a problem for the banks and not for that government either as you follow the 180-day rule.

[@drdemi]

sorry, what do you mean? I don't understand.

[@chdk55christidonny6]

GENIUS TRUTH TELLER

[@SmilaZ]

To become exempt from payin gtax you can change your status from citizen and resident to being a National. It just requires that you learn thoroughly about it before you begin, so that you don't get in trouble.

[@BboyTibz]

In Belgium, if you travel and live "nowhere" (aka 3 months here and there), they will assume that your tax residency is in Belgium!

[@rubiooibur8534]

yes but how can they reach you when you are not registered in belgium anymore? also belgium has tons of DDT so they can assume all day long

[@null_spacex]

I’ve never even been to Belgium but from what you said it seems I have tax residency there

[@Checkmate025]

A good sales man

[@Senssational]

Me, living with my parents, never payed tax in my life: Hmm, I wonder what country I should move to. These taxes sure are taxing 🧐

[@thepap000]

I've been watching you for years and I've always earned under £20,000 I'm currently an apprentice welder and I've been guaranteed a 6 figure salary in 3 years. The thought of giving the government a penny of that makes me sick. Other than maxing out my pension I don't really know how to legally avoid tax and even then I'll be paying tax on the back end

[@Prince_of_Persiaa]

is 20,000 enough to survive?

[@rubensnogueira5838]

It's not worth sacrificing a 6 figure salary just because you don't want to pay taxes (unless you can get a higher net salary somewhere else). Just save as much as you can *and then* make sure you invest that savings in the best possible jurisdiction. One day, if your salary stops being the most important income, you are free to move. Think long term.

[@thepap000]

@@Prince_of_Persiaa I'm 24, a father of 3 toddlers and I have a mortgage. I grew up in a household where both my parents were opioid addicts so I don't really want for much. I more or less live off Chicken thighs and beef mince so my food cost is around £80 a week and my mortgage is only £418 a month and I don't go out with friends and I've never been on holiday other than when I go on hiking trips but that costs basically nothing other than the train fare. I don't have an easy life by any means and I'm always having to pull a rabbit out the hat at the end of each month to pay everything but I have a good Future career and around 25% equity in a 95k home

[@thepap000]

@@Prince_of_Persiaa Honestly, I'm barely surviving. I'm 24 and a father of 3. Thankfully I don't really want for much as I grew up in a household with addicts, so you don't miss when you didn't have. I'm greatful to have food in my fridge and a warm home. I have a mortgage so that brings the cost down, I only pay £418 a month on that and we live off chicken thighs and beef mince, so we only really spend £80 a week on food. I have faith that it gets better though because it's not easy.

[@eat_ze_bugs]

Unless you're a 7 figure entrepreneur, you're better off starting a small business and making some deductions before you consider anything to do with foreign jurisdictions.

[@teatree6228]

Australian taxes are at 3 levels- federal, state and council. Very complicated. Retirement self managed funds are also taxed Taxed till you have not much to live on

[@matthewnirenberg]

Oh and the worst part is: Unrealized Gains Tax AND The fact that everything is 'valued' under the 'deeming laws' that let the govt pick the highest possible value (if 100% developed or perfected/marketed as they would) I honestly don't see the point in people staying in Australia if they want to succeed and be all they can be.

[@jamesm1256]

It's also hard for Australian digital nomads, as unless you can prove you are a tax resident someplace, you are deemed to be an Australian tax resident. So the trifecta approach doesn't really work for Aussies I think 😣

[@teatree6228]

@@matthewnirenberg Australian politicians are self promoting towards a USA government or military industrial complex jobs post retirement from politics eg some sit on the executive board of a USA company selling submarines to the cabinet of politicians whom they headed while in power, and made the buy decision as cabinet members and now selling the subs as salesmen for their new bosses

[@teatree6228]

@@matthewnirenberg things got out of hand ever since the late Bob Hawke retired

[@andrewkerr5296]

I live in Australia & it's ridiculous the Taxes But next time your talking to your accountant, ask them why there is no definition of 'Income' in the Tax Assessment Act of (I forgot year)

[@jasonbrown6534]

Thanks for sharing

[@herbertvonsauerkrautunterh2513]

I'm so done with Australia. Not, I need to stick it out a few more years. Starting a capital investment company through a family trust and then I'll be looking at diversifying into Asia. Also have land in Thailand to move to that place is going under as well slowly

[@nomadcapitalist]

Thanks for your comment! We helped many Australian leave and have a better quality of life and more options. If you want to explore that path, get in touch with our team here: nomadcapitalist.com/apply/

[@nomadcapitalist]

Thank you for your comment. If you need assistance on diversifying in Asia, our team would be happy to help: nomadcapitalist.com/apply/

[@adamzlublina4008]

Very Informative Thank you Team Nomad

[@UtahSuka]

I have a Dutch passport with a secondary Dominican Republic passport, I'm a forex trader, stock and dividend ETF investor, my aim is to pay 0 or single digit % taxes if I have to pay. I also like to travel, I was thinking Colombia, Thailand and Malta as home basis. Thoughts?

[@oddballsok]

Yes

[@rubiooibur8534]

you want three homes for tax purposes? You are just switching from paying taxes to paying rent then. 😂 joke aside: malaysia has a new program that might be interesting for you ;)

[@dakota-rt8kd]

Frankly, I don't have any money for anyone to try and take any taxes.🤔🤭🤫 😅 😉🙄😏 Sending, love and blessings to you ❤

[@AvinashDihal]

Just move to the Philippines, 0 tax on foreign income. Regardless of your income. That's what I did.

[@Ghekko-kw3zz]

Terrible interest rates there but that's the payoff for being both a tax haven & having very tight banking secrecy laws.

[@Holdeenio]

@@Ghekko-kw3zzyou don’t need to keep your funds where you live. Live in the Philippines and continue to bank in Juristiction(s) that are strong and lucrative

[@oldestmember2892]

On what visa?

[@TSF13]

Same with Paraguay

[@Ghekko-kw3zz]

@@oldestmember2892 retirement is the best, allows local businesses/ work rights.

[@kramer26]

Question for you; if you "enjoy" living for 4 months in Asia, 4 months in Europe and 4 months in Latin America, purely because you have the means and it suits your lifestyle choices, you own property in each of these countries and you enjoy and benefit from all the amenities and advantages each of those regions offers at the various times of year that you choose to reside there, then why would you not want to pay at least some taxes in all of these regions, regardless of your residency, citizenship or tax liabilities?

[@brianrogers4876]

I definitely will be at the Nomad Capitalist Conference in Malaysia next year.

[@nomadcapitalist]

We’re looking forward to welcoming you there: nomadcapitalist.com/live

[@mervynmontague1811]

Interesting and informative 🇯🇲

[@kims1912]

How do you still get your SS in USA if you renounce your citizenship? What about military retirement benefits? Would you lose those if you renounce your citizenship?

[@nomadcapitalist]

This article covers the most common myths about renouncing US citizenship, including social security: nomadcapitalist.com/expat/myths-giving-up-american-citizenship/

[@officialszabobeatz]

What would be a good option for me ? I have Hungarian / Romanian dual citizenship, but a resident of UK for almost 10 years now.

[@nomadcapitalist]

Thank you for your comment and for sharing your citizenships and residence. Our team and network of professionals would be happy to assist you in creating a holistic plan aligned with your goals and legally avoiding taxes to the extent it is possible: nomadcapitalist.com/apply/

[@andreiabovezfold7247]

One must be a heck of a playa to benefit from your input :)

[@robertmaxa6631]

How is the tax situation in the Czech Republic?

[@jaceksuski4193]

It is getting worse. Since this year they rise the social contributions rates for the next three years.

[@robertmaxa6631]

My parents have been nagging me to apply for citizenship, for years. I just wonder if it's worth it.

[@strategoking]

Have you done a video on moving countries with animals?

[@rubiooibur8534]

why? you just get take them with the airplane? or are you afraid that your dog gets eaten in another country? 😂

[@tjsoletsgo]

Just came across your channel, like this one alot. And I get it, Im somewhat in that category, travel alot. And want to finally get my tax residency sorted from the UK. I like your idea about just simply disconnect from your 'home' or any in fact, tax system, then perhaps spend 4 months in each country. Like you say, maintaining residency, not necessarily tax residency, some minimal days might apply. And others we've found have a remittance based tax system. Heres the rub though, to actually facilitate such a lifestyle, fluid, awesome, you still have to fiat currency your way around, with receipts of income and expenditure in whatever form you do it (be it as director drawdowns from companies you own etc). But, in order to do that you need to access the financial system, hold bank accounts, which in the case of the UK, requires you to be a permanent resident of the country....to have a bank account there...to receive income via whatever method of generation....to support such a lifestyle....the modified trifector is the only answer, but makes you a tax resident of said country you'd choose as your 'main' country. Its just a case of finding a country that is lower tax than your home country, and moving your financial affairs to it and then deciding how fluid you want to be from a location point of view, and what your visa rules are for your new host country

[@nomadcapitalist]

Thank you for sharing your insights. We would be glad to welcome you at our next live event where you can get started on your Nomad Capitalist journey and learn from the brightest minds in global citizenship, legal tax reduction, international diversification and Plan Bs: nomadcapitalist.com/live

[@chizzlemo3094]

Remember you can open a US LLC wherever you are from, these are tax free if you dont live there, and then you can get a chase bank easily.

[@joshdw]

Yes but how do you then take money out of that LLC to your country of residence? You'll be paying tax on that income in the end as far as I understand it.

[@edheldude]

@@joshdw Depends on the amount and your situation. E.g. if you're a tax resident of a country that doesn't tax foreign income, it's all cool.

[@HashirRayanLimitless]

Can you tell me more

[@sebastiansupel2310]

@@joshdw non-KYC BTC exchange to fiat fixes this.

[@JohannPietsch]

@@sebastiansupel2310 For example?

[@WilliamGK1924]

Do you have any videos for people with health concerns but want to move around?

[@Jehauvv88]

Flying from country to country with health issues is really difficult. I am there.

[@rubiooibur8534]

step 1: get an international health insurance

[@MsHohoyo]

Great content as always! I would love to see some focus on African countries and their tax systems and crypto policies

[@nomadcapitalist]

Mr Henderson discusses the African passport and delves into the nuances of citizenship by investment programs, travel freedoms, and investment opportunities in Africa. Watch the full video here: kzbin.info/www/bejne/eWKZf3Sonb2jo6s

[@olafschermann1592]

As an EU citizen - what about Dellaware which is tax frendly as long as you are not a US citizen

[@thebigh9324]

I love your content , always SO informative 💞 I have been looking to relocate recently and have shortlisted it to three , Buenos Aires , Bogota or Santiago !!! Which would you consider the best all round choice ? Would appreciate your take 🙏❤️

[@synewparadigm]

Depends on your financial situation? Do you live on a pention, multi-millions, or starting your life and opening a business?

[@choco.es.unlimited]

Bogota and santiago are trash. Buenos aires is king

[@toti022]

Buenos aires is the best

[@marguz99]

I have lived in the three of them. All good choices. Perhaps Santiago a bit safer ... BsAs seems will experience a recovery with the new president. Bogota has a low cost of living but the left govmnt sucks however access from the US or Europe is better.

[@synewparadigm]

@@toti022 Why?

[@steffmay7969]

think the trifector method is still valid just setup your bank/brokerage/financial accounts before breaking your tax residency and make one of them the new digital multi-currency accounts like Wise or Revolut. You can then always get tax residency for one year if you need to and then find ways to end/break it the next year

[@reganmacelwain2250]

Wouldn't you risk getting de-banked at some point? If so, I guess you could move your brokerage account without having to liquidate any assets / triggering a tax event but it seems like it could be a headache

[@steffmay7969]

@@reganmacelwain2250 possible. Each institution will have its own rules. I'm currently switching brokerages because they only support UK tax residents and I plan on leaving my tax residency. You can get debanked for all kinds of things, so if that's your worry don't do anything out of the norm

[@VoiceOfThe]

@@reganmacelwain2250 I left the U.K. three years ago. Still have a brokerage account there. Live in Cyprus. I’m about to move the account before I start to drawdown from it, probably to Interactive Brokers (best for expats). I think it’s called a direct transfer and is relatively straightforward. You aren’t liquidating any assets so there’s no tax trigger. Regarding banking, I just use a family member’s address. Was told to do this by my bank when I told them I was leaving. Had no issues.

[@VoiceOfThe]

@@reganmacelwain2250 I left the U.K. three years ago. Still have a U.K. brokerage account there. Will be switching brokerages soon to be more tax efficient before I begin to draw down. Believe it’s called a direct transfer and is reasonably straightforward to do, I’m told. You don’t trigger a tax liability as you’re not selling any of your assets. I still have a U.K. bank account and also use Wise.

[@matthewnirenberg]

@@reganmacelwain2250 Being de-banked is always a risk, even if you're in a high tax country like Australia. Since 2010, the WEF's ESG BS has been pushed by banks (except for two banks (1 large and 1 small) who accept anyone conditional to proving what they do is legal) and many innocent people have been unjustly de-banked. First it was licenced firearm dealers who were de-banked, then 4WD businesses, then farm supply shops, then farmers (because they use firearms and because they farm (the WEF hates this)). Then it was outdoor shops (that sell camping gear, etc.) because the public going bush and not being reliant on the govt is bad according to ESG; and now its anyone who has hobbies, interests, club memberships, employment, etc. that the bank feels "doesn't fit their risk profile" (this is why banks now demand to know everything about you under AML/KYC, even things that AML/KYC doesn't actually demand) - it could be simply because you collect coins and the bank thinks CBDC is all that should be allowed so they apply ESG scoring you badly and then you're no longer in their risk profile and de-banked. My point is being de-banked is a risk no matter what you do. The biggest point is to "never keep all your eggs in the one basket". Have some bullion and cash in safes at your residences around the world, have accounts in multiple countries and in multiple jurisdictions (CRS, non-CRS, western aligned, eastern aligned, etc.). Don't make your self have a single vulnerability by which a bank or govt can completely screw you over in an instant - you need access to money to put up a legal defence. Its literally the same reason Nomad Capitalist says to get multiple citizenships in various places - to expand your options.

[@Chimney1966]

Being a quarter yearly moving nomad '90 days and next location' type is a simple way to avoid 'dreaded 183 days' tax residency. 4 locations rotation during each year simple and effective. As what comes to apartments, cars and local bank accounts, having 4 local companies, one in each country and every time living in company owned apartment/house, driving with company owned car and local company's bank card to deal local expenses. Being a visiting star of the corporation, and each time it is the local company which handles expenses... But it ain't cheap I can tell... Annual maintenance fees (and local staff salaries) times four just to keep simple setup in those locations... Easy to burn $1M per annum total just to keep four locations like that operational (in low cost countries) ...

[@SvirepiyBambr-xw8rw]

Canada Revenue Agency absolutely love roasting people for paying their living expenses with their corp card. You would get caught, fined, and have their scrupulous attention afterwards. I am talking from my friend's experience: he was naive enough to pay for a snowmobile with his corp card, CRA caught it, audited all his corps expenses and fined him for everything he could not prove to be business expenses. Their goal is to make you pay yourself salary or dividends before spending this money and then they will have their income tax. And no amount of jumping between countries will absolve you of Canadian tax residency as long as you have Canadian income (i.e. a Canadian company which pays you salary or dividends). If a company provides you with some benefits (like you stay in the apartment that belongs to the company, drive their car etc) it is considered as taxable benefits and added to your taxes. Again: tax agencies hate it when you spend corp money on your living directly without declaring it as a taxable benefit, they consider it as a tax evasion.

[@CreepyTrendMan]

Far from simple lol.

[@luckynumber5.56]

Your companies still have to be profitable and paying you an average salary for this to be legitimate, or else you’ll be on the hook for tax evasion. But having $160k an income taxed at a $40k rate is still nice, plus whatever other income you have that isn’t liable to income tax

[@Vps108vps]

Wouldn't you have to jump between Schengen and non Schengen zones each time as well?

[@Kniyi]

Turns out, that as long as you spend five months or more in a country each year.. there is more broader chance that you will be claimed as tax residence.. in as much as there is census process in the country.

[@amycarroll6964]

Can you do more on the uk 😊

[@alha7040]

Top content!

[@antoniobrasse7157]

Can we talk more about offshore irrevocable trusts? Since renouncing US citizenship may not make sense for many that can afford to do it.

[@nomadcapitalist]

You may find this video helpful 'Why Foreign Trusts are Better than Domestic Trusts': kzbin.info/www/bejne/kKaVaKuioqmmldUsi=sDBQeYmlQDG5lk0Q

[@alli3219]

​@@nomadcapitalist Delete the tracking code after and including the question mark

[@smudgepost]

Always a fascinating watch. Am certainly interested in alternative passports of non-major Countries.

[@WealthyChronicle]

So, if I follow this advice, can I finally afford that private island I've always wanted? 😂🏝🌊

[@stanisgmi]

But where is your brokerage and bank account registered at?

[@Trdhns5444]

How much capital do you need to make it worth the effort to become a capital nomad.

[@PT-rg2vo]

Well easy. Is your income tax bill, big enough to live in another country for 6-7 months a year? If YES, get out. If NO, try to reduce the tax.

[@cracked21]

No no i want to live in tax free ancapistan in my head, thank you very much.

[@illumoari]

I live in France and I got racketted the first year ! Not a place if you get paid more than 84k per YEAR, like the bar for harsh taxation is low

[@Jehauvv88]

Did you get racketted as an American? I am French, lived in the US for 40 years and with my American husband, we are planning to purchase a manor in Dordogne and semi-retire there in the countryside. The US is crumbling very fast. We have an option trading LLC. It seems that we are going to be a target. Probably will travel to Andorra to see what we can do.... Did you find a solution?

[@TantissTheEmperor]

I’m French I’m getting racketted each year. Looking to get out of communism fast.

[@rubiooibur8534]

@@Jehauvv88 Andorra is not an option anymore. believe me!

[@frankyvincent366]

​@@Jehauvv88 As a retired, you will get reasonnable taxation I would say.

[@Billy_Bull_Sheeter]

What about in the UK?

[@munirhussain6849]

Can you do an article on Capital Control

[@SigmaTradizionalisti]

Please can you talk about the new USA LAW ABOUT THE BENEFICIAL OWNER INFORMATION there is a new site fincen

[@boxcartwilly]

Geat talk 👍

[@Leon-cm4uk]

Compare paying no taxes with the situation that someone comes into the restaurant that is owned by you. He orders something eats and drinks a lot and leaves without paying. So what did he just do? He stole money from you as a lot of people would say because he did not pay the food and the drinks. And you as the restaurant owner have to pay the bills (workers, buy ingredients, electricity, water etc.).

[@LaceyHayward]

I’m a Canadian Citizen. What if you were to combine things like self banking through a permanent life insurance policy, as from I understand will grow better than a bank the growth of which will not attract taxes. As well as I’m learning about something called social enterprise which is a way to combine business with a charitable cause, not only could you get tax breaks from that. But depending on what combo type of business or charitable organization you are you can get free stuff, like production software etc. If I am able to legally have my own pocket of wealth held somewhere tax free, this is ideal, I have a way I want to change the world that I am passionate about, so less taxes means more money, which means more implemented change. My last question is, is there anyway to double the advantages with common law our spousalship?

[@TheSimArchitect]

I hate when they ask "where do you pay taxes", as if you had to pay taxes somewhere to not pay somewhere you're just visiting (or a place you left)...

[@AEVMU]

They are asking where you are a tax resident of, not that you actually pay tax there.

[@TheSimArchitect]

@@AEVMU My point is that sometimes you want to be tax resident nowhere. I didn't formulate my comment well, sorry.

[@crescentprincekronos2518]

@@TheSimArchitect that's entirely unrealistic

[@TheSimArchitect]

@@crescentprincekronos2518 Not really. You can avoid triggering residence if you stay 4 months per year on a different country, for example. But that has to be done carefully and you need to study the law of each country very well beforehand. That doesn't mean you won't have issues as your bank might just freeze your assets asking for your tax return (you can surely use one of your previous tax ids to open your bank accounts but when you make a large transaction or even when one of your bank feels like doing a "checkup" on you, they freeze your money first, ask questions later, never tell you what the real problem is so you can address it surgically because they want to force you to dump as much information as possible to help the tax men).

[@splashpit]

Who is asking this anyway ? I spent the max visa time in the EU once and l was never asked where I pay tax , this was before brexit so the only thing I was asked crossings back into the uk from Majorca “ am I working here “ my answer was no as I was cycle touring .

[@CommandoMaster]

A US passport is still very powerful for travelling, so I wouldn't be so quick to give it up!

[@alanwood4968]

Not in Thailand , if you do not pay tax in the UK you will have to pay tax there. They have an agreement with the UK that if you are taxed in the UK you will not get taxed in Thailand but if you are not taxed in UUK they will tax you at the same 20% twenty percent or 22%in Scotland.so you cannot dodge paying tax other countries may be different.

[@famousfootballplayers]

THIS video is important….

[@thomasosta]

I never paid any taxes neither any spending for retirement; Very simple: I don't live in any country for more than 170 days already many many years! Never buying any properties including homes and cars! It's useless and destroys your real freedom and liberty! Anything could be rented! I rent in 3 countries, and while I'm absent in particular country - I'm subletting apartment where I don't live at the moment! Everything you need for this style of life is Capital, proper investments and proper passport

[@YTAug2030]

Which passports? Which investment? Do share please.

[@thomasosta]

@@YTAug2030 I have Israeli passport, and investments only in my own trading on Forex, already 22 years ; very conservative and almost no-stress

[@schtefel]

Which passports? Which investments?

[@rubiooibur8534]

what will you have to show for when you're old? kids? doubt that you can sustain this lifestyle your entire life

[@thomasosta]

@rubiooibur8534 Im already not young-) My children already grew, 30+ years; I can keep this style untill I die;

[@SleepySteve79]

I heard the Netherlands has an price since this year you have to pay to leave.

[@nomadbl]

Where do you purchase insurance if you don't have a permanent residency?

[@matthewnirenberg]

In the place you're legally tax resident and where your centre of life is. Simple! Like with everything, that's why if you want to live flag theory you have to: 1. Establish tax residency in a 0% PIT country - you have to move your centre of life there and have a home that you return to 2. LEGALLY leave the high tax, tax system that you were in, thus leaving you only in the tax system you entered in point 1 3. Get a bank account in the 0% PIT country, live there for 8+ months and get a local tax file number. 0% PIT countries still issue tax file numbers so you can fill in the space on forms and as part of proving that you're legally tax resident there, even though PIT is 0% 4. Once you've achieved all of that LEGALLY, now you can look at holidaying to several places for a month or two at a time (be careful to not become tax resident due to physical presence in those places), returning to the 0% PIT country you live in after each trip. 5. Congrats you're living the modern LEGAL version of flag theory Its no longer possible to be perpetually traveling and tax resident nowhere, countries will declare you tax resident automatically unless you have LEGAL tax residency somewhere. This is literally a case of "you have to know how to play their game and beat them at their own game whilst complying with all the rules they made". Its intentionally hard because the high-tax countries are desperate for taxes because they're broke welfare states that care more about being dystopian, all encompassing and because they let themselves become welfare states. Remember, when the largest employer in a country is the government, the only outcome is always going to be larger, more bloated government and thus more over regulation (nanny state) and the only way to fund that is higher taxes. Becoming welfare states lets the govt exert more control over the people as they need the money to survive, it also makes it easier to justify increasing taxes "you don't want the poor to starve do you?".

[@nomadbl]

@@matthewnirenberg I agree on everything, but I was really aiming at a practical solution for the insurance thing. In the approach you describe, I wonder about health care on those vacations for example.

[@Xalta_Sailor]

Most places health care prices out of pocket are affordable. In the last 13 years I have spent less out of pocket than most US deductibles.

[@rubiooibur8534]

online

[@Christoff8188]

Personally, I prefer staying in one place and only travelling when I genuinely want to, not because I have to. We all get ill eventually, and we all benefit from whatever tax system we're in. So, I don't care about paying it. Sure, governments need to do better. But as someone living in the UK, we definitely have it better than in the US. I've had 10 surgeries in my lifetime, some of which were life changing in a good way. I didn't pay a single penny.

[@danielmalinen6337]

Are there any legal ways to avoid any country's VAT when you buy, for example, food and foodstuffs from a grocery store or an online store?

[@jamievarbondg]

No

[@taxwayneadvisory]

yes

[@Vps108vps]

Maybe

[@LethalMindset]

What about the UAE? Wouldn't it be a great strategy to set up your taxes in Dubai, spend the 90 odd days required for tax residency or more, and then avoid spending more than 4-5 months in any other country and make sure that you have assets secured outside of personal registration, if and where possible, outside of the UAE?

[@rubiooibur8534]

you have to be 183 days in the UAE for tax residency and you cannot stay longer than 6 months outside of UAE

[@naturesworld8399]

I love the thumbnail with the U.S. passport burning!

[@sdnalyam]

One thing most people forget about is consumption taxes, you pay those even if you are not a resident/citizen, and they can be high.

[@mrphillipthomas]

Yeah sure, it's called cost of living, but you're not seeing the forest for the trees if that's all you look at. Cost of living in Dubai (zero personal income tax, and minimal other consumption taxes) is far higher than cost of living in Spain (much higher personal income tax, and higher other consumption taxes ) but far better way of life.

[@splashpit]

How much money do I need in the bank to do the three countries over the year ?

[@kirillbobrovskikh1174]

Once there are enough individuals evading taxes in this manner, governments will likely implement either a global tax or an income source tax. Tax agencies already have systems in place for automatic communication and information sharing. Identifying tax nomads who aren't paying taxes is just a matter of time, not possibility.

[@calvinmcdowell8328]

So if I decide to get German citizenship by decent in order to not pay taxes I need to own nothing in Germany and be in country less than 183 days including bank account and brokerage accounts? Is there a benefit to get citizenship?

[@Vps108vps]

I want to know this as well please.

[@rubiooibur8534]

you wont get a bank account if you dont have an address in germany, if you have an adderss in germany you are automatically obliged to pay taxes even if you are less than 183 days here or even if you move entirely abroad you will still pay taxes to german tax authorities for many years

[@AJonVolk]

Has anyone used New Zealand's foreign bank scheme to loan themselves money and write off taxes with it? seems like an interesting play.

[@MaxDissent]

Do you know anything about a “state passport” vs “federal passport”? There is a group called Destination Freedom who claims that when you apply for a passport and check the box saying you are a “US Citizen” that you are claiming to be a citizen of the District of Colombia and therefore must abide by all federal laws including, paying federal income tax, abiding by federal gun laws, etc. Destination Freedom claims you can apply for a “state citizen” passport which makes you a citizen of your state instead and therefore you have no obligation to pay federal income tax or abide by federal laws. They claim to have been helping clients get state citizenship status for 20 years with zero issues with the IRS. Does anyone else know anything about this and whether or not this is true?

[@philipde]

What do you pay if you give up USA citizenship? Is it an exit tax on income or wealth? Or a fee ?

[@nomadcapitalist]

Hi Philip, check out our article on the 'Cost to Renounce US Citizenship' nomadcapitalist.com/expat/cost-to-renounce-us-citizenship/ hope it helps.

[@simpleman5541]

One would guess it's on net assets.

[@schadlarry]

I have just started looking into France for a perpetual visitor visa. My understanding France will not tax me if I file my US taxes. Under that scenario my US taxes will be zero or very close to it as it all comes from dividends/capital gains and soon SSI. So am I missing something here, living tax free or nearly in France?

[@nomadcapitalist]

Thank you for your comment! Feel free to reach out-our team would be happy to discuss this with you and help create a plan to optimise your taxes: nomadcapitalist.com/apply/