I live outside the US 10-11 months a year on fixed SSI; less expensive than trying to “retire” in the US! In many of the countries I visit I live extremely well; equal or better than the US. I obviously earn way less than $1M+ a year but follow Andrew for practical advice that is valid for everyone in many cases.
@@prepperjonpnw6482 You may want to buy a home in a country that looks good to you, but it's not the time to buy yet. If you can pay cash or pay it off quickly, you'll be way ahead of the game. I'm currently in Serbia looking around. The prices here are still amazingly low.
That's not his house. He's a businessman that helps high profile clients get out of taxation and oppressive countries. He's not dumb enough to broadcast from his actual home.
People always think their limited view of the world is how the world works. It's probably the biggest reason people make bad decisions: thinking you know everything about a situation.
Right, I've been to D.R. several times. Never had an situation where I felt unsafe. May even by a second home there. Here in the U.S., I just had an incident where someone tried to break in my car, home was burglarized once. Gun culture, civil unrest and crime are rampant everywhere.
Having a Caribbean(English and Dutch) passport allows you to live in any member state of CARICOM. Not just the countries you mentioned but, from the Bahamas down to Trinidad (which also includes Guyana & Suriname). I'm from Jamaica. There are some minor restrictions.
Love the picture of you in the hat. Reminds me of the Rodney Dangerfield line in Caddyshack "I'll bet if you buy this hat you get a free bowl of soup".
It is not just wealthy Americans who have decided the juice is not worth the squeeze here. Plenty of Americans from every socioeconomic class, racial, and ethnic background are moving to Latin America, Southeast, South, and Southwest Asia, Africa, and Europe because the cost of living, access to healthcare, and lifestyle in general is more amenable to a comfortable life than life in the US because the cost of living and healthcare are more affordable elsewhere. Dollar for dollar the US is punching well below it's weight these days and thanks to the Internet Americans have figured that fact out.
Precisely. It is precisely because many of us are not wealthy that we decide to move. That's our biggest reason. It's just not affordable for us to retire in the US.
Dual US/Irish citizenship is a bit more diversified than you might imagine. My impression is that Irish citizens have more of a chance to beat extradition to the US than say, UK citizens, with the UKs lopsided extradition treaty with the US. (I'm dual US/UK and have never felt very well diversified. Not that I expect ever to be the subject of an extradition request. But you never know!)
I think it would be a nice addition to your video series if you make a vedio about investment in British overseas territories like Cayman Islands, British Virgin Islands, Montserrat,.. etc. to get British citizenship
@@maxwelltreasure5027 I am a UK citizen currently living in Barbados and I am trying to assess what is the best structure for living versus tax efficiency. There has to be a better structure than the UK one I am currently being strangled by?
I make a little more than $100k and thanks to your videos and following your tips I have 3 residencies (one European) and I’m currently expanding my business thanks to that.
As a Canadian living in an unaffordable dictatorship, the idea of selling my over priced home, taking the 1 mil to Dominican Republic to buy 8-9 condos for $100k each in established Santo Domingo and living off of the rent would be life changing. And yes, if you earn income from rent is a path to residency. I’ve been there many times, great culture, entertainment, western brands, within 30 mins from beautiful beaches. Great people from all around the world live and do business there too.
I would love for you to do a video on the Caribbean nations that are free per government injections, testing, quarantines etcetera. This is all about freedom and healthy living ie wealth, so it would be great!
@@SF-nm3yb The Dominican Republic Migration website. The Government has cracked down on lawyers overcharging people so they created a website to spell out the process in both English and Spanish. Lawyers were charging people outrageous prices. Now you don't even need a lawyer. The Dominican Republic tells you what documents you need, how much everything costs ( it's cheap)and you can even get assistance from your local Dominican Consulate. They decided to make the process straight forward so it's hard to mess up. The two fast tracks are investment or marriage. You get residency and have to hold residency for a minimum of 6 months and then you apply for naturalization.
@@NettechZelkova how much does the Dominican Republic citizenship by investment cost? And after staying in Dominican Republic for continuous 6 months in a row I would have the right to get Dominican Republic passport??
Always interesting videos. However, one should be aware of the ethnic and cultural tensions in these countries. For ex, there are strident racial tensions and resentment in St Lucia and other islands. Caveat emptor.
As to why a Canadian would move to Australia? I mean Andrew it's obvious. The weather. Yes summer in the part of Canada where most Canadians live isn't generally oppressively hot nor too cold, but the winters are a lot worse than Australia, for a very similar tax regime, and very similar society overall. Maybe the Aussies aren't quite as polite, but sunshine and warm weather are more in abundance in Australia than Canada.
What happens if you get Mexican residency as a US citizen, get Caribbean citizenship then renounce US citizenship? Will you then need a visa or different citizenship to get into Mexico
Ok but l have asked this question before: what countries will be least affected when, not if, (IMO) the USA spirals down into chaos and dysfunction? If you have a passport or permanent residence in a country that follows the US down the tubes… you see my point? Also, what happens to your permanent visas when, not if (IMO) the US passport becomes toxic?
You get a citizenship other than the US as fast as possible. You get residence in yet another country or two. If possible you get a third passport. As the military says, 2 is 1 and 1 is none. Then you ditch US citizenship. That takes care of the later concern. As for place likely to be unaffected ASEAN counties & Africa will have little impact from the US implosion. Latin America south of Mexico will largely be unaffected, but no country will escape with zero impact. Just some are less likely to see major impacts. Africa is probably the least effected area. Eastern Africa like Tanzania, Seychelles & Mauritius seem unlikely to experience major impacts. Ecuador and Paraguay in Latin America seem least likely to be effected, although Ecuador has more exposure with a dollarized economy than Paraguay. Just my take, but look at trading partners & what they are trading this is telling.
Andrew, you said that St. Lucia has a 9 fold increase in applicants. That's an astounding figure. I'm almost complete with obtaining Dominica citizenship. At this point I'm approved and just waiting for the passport to arrive. I'm a single applicant and have been waiting 5 months since starting the process. I'm wondering if you know whether Dominica has seen a similarly large increase in applicants this year versus previous years.
There you can buy 95 % of everything include law and politician and bussines, only has your eyes and brain in alert all time even the best country to live if you have enough money 💰 and has body guards with you that you can trust in them, luck 🍀
@@ahmedslytherin6860 actually NO , because Chinese authorities have not yet decided the period of visa free access for dominica citizens. You can check Wikipedia and passport index.
So many people have such uninformed POV's about residence, citizenship and migration as a whole. I'm Canadian and I live in the Philippines. Not really complicated?
So I am wondering where residency should be based if I am currently a UK Citizen and have UK businesses and earnings, but have invested in Barbados and live there for over 9 months a year?
If you don’t want to talk about this I will understand. First off I am a straight Christian. But several of the Eastern Caribbean island countries are anti-Gay in fact some it is illegal to be openly Gay. I remember back 40+ years ago going to Jordan before going to Israel because I didn’t want to have the Israeli stamp on my passport while in Jordan. In 1984 I went into China by way of Hong Kong and was escorted back to the border because I had Christian tracks in Mandarin. If you are a Christian in China you do it underground. Then when I went to South Korea I was question about the Chinese stamp on my passport. Later in the late 90’s I flew to Cancun on my US passport then with my French passport I flew to Havana Cuba for a few days. So when I came back into the US no one was the wiser.
Dominica didn't acknowledge Taiwan as independent, while other carribean countries (like saint lucia, my choice) specifically acknowledged Taiwan as independent, and thus get taiwan visa-free, but not mainland china.
Well, 500 years ago Christopher Columbus ran out of ideas and here you have it. In any case, both countries use EXACTLY the same demonym (Dominican) so you can't really blame foreigners for the confusion.
I’m a Canadian and Where can you life outside of Canada and the USA the political garbage that is happening here is crazy Time to bale out ✌️👍🇨🇦 Let’s go Trudeau Let’s go Brandon 👎
Sorry a lot of this doesn't ad up. If you live in the US and making money in the US then how will you save money if you move to St Lucia? You can't move to St Lucia and continue to make an income in the US and expect to lower your taxes. Any income made in the US will still be taxed at US rates. If you want to lower your taxes you will have to move and also make your income outside the US. I would love to hear from others who know more than me on this subject because Andrew is obviously ducking this very important part!
This isn't accurate, there is a difference between "earned income" in the USA and income earned from US customers as a foreign company. Plenty of companies and individuals operate from outside of America and sell to the American market. If you have a job in the US, that's a different story. But that's not his target audience, business owners who are able to operate internationally are the target audience.
@@dankerchum So you're saying your corporate tax is less as a Foreign Business doing business in America than as an American Business doing business in America?
@@jdp0359 1. If you, as an American, ordered a certain product (for example, a boat project) from an Indian designer, then the income received by the designer from this transaction is taxed by the government of India. The US budget will get nothing from this deal. 2. if you are registered with a broker as a "tax resident" of the USA, the broker will deduct 30% of income tax from dividends of shares of American companies, but if you are registered with the same broker as a "resident of Russia", then he will deduct only 13% from the same income.
If you're retired it could make sense. Move your assets to countries with strong banking (not St L). St Lucia citizenship is just to get zero taxation on foreign source income. You can still receive Soc Sec as well even if no longer US citizen. And he's not saying you have to move to St Lucia, that's not a requirement and plenty of other places will accept you as temp or permanent resident.
I live outside the US 10-11 months a year on fixed SSI; less expensive than trying to “retire” in the US! In many of the countries I visit I live extremely well; equal or better than the US. I obviously earn way less than $1M+ a year but follow Andrew for practical advice that is valid for everyone in many cases.
That’s what I would like to do. Can you give me any advice please?
@@prepperjonpnw6482 You may want to buy a home in a country that looks good to you, but it's not the time to buy yet. If you can pay cash or pay it off quickly, you'll be way ahead of the game. I'm currently in Serbia looking around. The prices here are still amazingly low.
You able to live on SSI in other country?
@@dragasan How it's going for you in Serbia? The man made a comment on live on fixed SSI. I wonder you can do that in Serbia?
@@dragasan Macedonia also. I do love Belgrade though.
Is anyone going to talk about how good the interior design is in Andrew's house? 10/10
That's not his house. He's a businessman that helps high profile clients get out of taxation and oppressive countries. He's not dumb enough to broadcast from his actual home.
People always think their limited view of the world is how the world works. It's probably the biggest reason people make bad decisions: thinking you know everything about a situation.
You are so right!!!
Right, I've been to D.R. several times. Never had an situation where I felt unsafe. May even by a second home there. Here in the U.S., I just had an incident where someone tried to break in my car, home was burglarized once. Gun culture, civil unrest and crime are rampant everywhere.
It's not what you don't know that hurts you. It's what you know absolutely that just ain't so.
@@antsimm1022 the DR is great. I live here part time and it’s very comfortable. But they’re talking about Dominica, they just got confused.
You might want to discuss how he Caricom agreement works in terms of freedom of movement
Having a Caribbean(English and Dutch) passport allows you to live in any member state of CARICOM. Not just the countries you mentioned but, from the Bahamas down to Trinidad (which also includes Guyana & Suriname). I'm from Jamaica. There are some minor restrictions.
Nice!! what kinda minor restrictions are these?
I thought st lucians can't stay in bahamas for longer than 3 months without a visa
He never mentions this - I never understood why. The Caribbean Union is so underrated.
Love the picture of you in the hat. Reminds me of the Rodney Dangerfield line in Caddyshack "I'll bet if you buy this hat you get a free bowl of soup".
I like this episode
It is not just wealthy Americans who have decided the juice is not worth the squeeze here. Plenty of Americans from every socioeconomic class, racial, and ethnic background are moving to Latin America, Southeast, South, and Southwest Asia, Africa, and Europe because the cost of living, access to healthcare, and lifestyle in general is more amenable to a comfortable life than life in the US because the cost of living and healthcare are more affordable elsewhere. Dollar for dollar the US is punching well below it's weight these days and thanks to the Internet Americans have figured that fact out.
Precisely. It is precisely because many of us are not wealthy that we decide to move. That's our biggest reason. It's just not affordable for us to retire in the US.
❤❤
I love the tourist look of your hat and tropical shirt!
Andrew looks like a young Truman Capote with the hat.
Dual US/Irish citizenship is a bit more diversified than you might imagine. My impression is that Irish citizens have more of a chance to beat extradition to the US than say, UK citizens, with the UKs lopsided extradition treaty with the US. (I'm dual US/UK and have never felt very well diversified. Not that I expect ever to be the subject of an extradition request. But you never know!)
What do you think about panama?
I think it would be a nice addition to your video series if you make a vedio about investment in British overseas territories like Cayman Islands, British Virgin Islands, Montserrat,.. etc. to get British citizenship
Also talk about please the pros & cons of Caribbean Islands like mostly unmentioned “Barbados”
@@maxwelltreasure5027 I am a UK citizen currently living in Barbados and I am trying to assess what is the best structure for living versus tax efficiency. There has to be a better structure than the UK one I am currently being strangled by?
@@alvinedyvane3612 Cyman Islands is tax free
I make a little more than $100k and thanks to your videos and following your tips I have 3 residencies (one European) and I’m currently expanding my business thanks to that.
Nice thumbnail, Andrew😊
Thank you😊
@@nomadcapitalist Anytime!😃
Hi
Could you present the future of Caribbean country
As a Canadian living in an unaffordable dictatorship, the idea of selling my over priced home, taking the 1 mil to Dominican Republic to buy 8-9 condos for $100k each in established Santo Domingo and living off of the rent would be life changing. And yes, if you earn income from rent is a path to residency. I’ve been there many times, great culture, entertainment, western brands, within 30 mins from beautiful beaches. Great people from all around the world live and do business there too.
He’s referencing Dominica…. That’s a different t country from DR
I would love for you to do a video on the Caribbean nations that are free per government injections, testing, quarantines etcetera. This is all about freedom and healthy living ie wealth, so it would be great!
same here, and given the censorship of youtube/google that information is surprisingly difficult to get
do you got any more information on this ? cant find anything
Where would the least asset confiscation risk ?
The Dominican Republic does has a Residency by investment and fast track to Citizenship in 6 months program. I live in the Dominican Republic.
Yet, Andrew never discusses it in any detail.
You've been able to receive a citizenship in only 6 months?
@@SF-nm3yb The Dominican Republic Migration website. The Government has cracked down on lawyers overcharging people so they created a website to spell out the process in both English and Spanish. Lawyers were charging people outrageous prices. Now you don't even need a lawyer. The Dominican Republic tells you what documents you need, how much everything costs ( it's cheap)and you can even get assistance from your local Dominican Consulate. They decided to make the process straight forward so it's hard to mess up. The two fast tracks are investment or marriage. You get residency and have to hold residency for a minimum of 6 months and then you apply for naturalization.
@@NettechZelkova how much does the Dominican Republic citizenship by investment cost? And after staying in Dominican Republic for continuous 6 months in a row I would have the right to get Dominican Republic passport??
@@nooralansare358 The government has the requirement that you purchase a property or start a business with more than $200,000 USD
Always interesting videos. However, one should be aware of the ethnic and cultural tensions in these countries. For ex, there are strident racial tensions and resentment in St Lucia and other islands. Caveat emptor.
That is because of foreigners treating locals as “The Help”
white women have a very high chance of getting rap3d in those islands if they travel alone
As to why a Canadian would move to Australia? I mean Andrew it's obvious. The weather. Yes summer in the part of Canada where most Canadians live isn't generally oppressively hot nor too cold, but the winters are a lot worse than Australia, for a very similar tax regime, and very similar society overall. Maybe the Aussies aren't quite as polite, but sunshine and warm weather are more in abundance in Australia than Canada.
@mariobroselli3642 I mean that is the role Indonesia & the Philippines fill for Australia.
Hi, I live in Qatar where is the nearest st Lucia Embassy to renew the passport...... thanks
What happens if you get Mexican residency as a US citizen, get Caribbean citizenship then renounce US citizenship? Will you then need a visa or different citizenship to get into Mexico
I can't believe Bernie Ecclestone would do such at thing, I'm shocked:)
Ok but l have asked this question before: what countries will be least affected when, not if, (IMO) the USA spirals down into chaos and dysfunction? If you have a passport or permanent residence in a country that follows the US down the tubes… you see my point? Also, what happens to your permanent visas when, not if
(IMO) the US passport becomes toxic?
You get a citizenship other than the US as fast as possible. You get residence in yet another country or two. If possible you get a third passport. As the military says, 2 is 1 and 1 is none. Then you ditch US citizenship. That takes care of the later concern. As for place likely to be unaffected ASEAN counties & Africa will have little impact from the US implosion. Latin America south of Mexico will largely be unaffected, but no country will escape with zero impact. Just some are less likely to see major impacts. Africa is probably the least effected area. Eastern Africa like Tanzania, Seychelles & Mauritius seem unlikely to experience major impacts. Ecuador and Paraguay in Latin America seem least likely to be effected, although Ecuador has more exposure with a dollarized economy than Paraguay. Just my take, but look at trading partners & what they are trading this is telling.
Andrew, you said that St. Lucia has a 9 fold increase in applicants. That's an astounding figure. I'm almost complete with obtaining Dominica citizenship. At this point I'm approved and just waiting for the passport to arrive. I'm a single applicant and have been waiting 5 months since starting the process. I'm wondering if you know whether Dominica has seen a similarly large increase in applicants this year versus previous years.
There you can buy 95 % of everything include law and politician and bussines, only has your eyes and brain in alert all time even the best country to live if you have enough money 💰 and has body guards with you that you can trust in them, luck 🍀
I think yes
Why did China not allow citizens of the Commonwealth of Dominica to enter without a visa to Chinese mainland ?
@@nooralansare358 Dominican citizens have visa free access to China 🇨🇳!
@@ahmedslytherin6860 actually NO , because Chinese authorities have not yet decided the period of visa free access for dominica citizens. You can check Wikipedia and passport index.
So many people have such uninformed POV's about residence, citizenship and migration as a whole. I'm Canadian and I live in the Philippines. Not really complicated?
I am from the Caribbean- St Lucia , St kitts and Nevis , Antigua. 👍🏾 CBI great choices
Dont forget Grenada.
Also dominica
So I am wondering where residency should be based if I am currently a UK Citizen and have UK businesses and earnings, but have invested in Barbados and live there for over 9 months a year?
11:00
A lot of very wealthy crypto folks I know have went to Antigua/Barbuda. Which Caribbean island is the best?
The goal is to be a tax resident of a country where you are not a citizen
If you don’t want to talk about this I will understand. First off I am a straight Christian. But several of the Eastern Caribbean island countries are anti-Gay in fact some it is illegal to be openly Gay. I remember back 40+ years ago going to Jordan before going to Israel because I didn’t want to have the Israeli stamp on my passport while in Jordan. In 1984 I went into China by way of Hong Kong and was escorted back to the border because I had Christian tracks in Mandarin. If you are a Christian in China you do it underground. Then when I went to South Korea I was question about the Chinese stamp on my passport. Later in the late 90’s I flew to Cancun on my US passport then with my French passport I flew to Havana Cuba for a few days. So when I came back into the US no one was the wiser.
Why did China not allow citizens of the Commonwealth of Dominica to enter without a visa to Chinese mainland ?
Dominica didn't acknowledge Taiwan as independent, while other carribean countries (like saint lucia, my choice) specifically acknowledged Taiwan as independent, and thus get taiwan visa-free, but not mainland china.
Not just Dominica. China restricts many countries too.
When people don't know the difference between Dominica and Dominican Republic. 🤦♂️
Well, 500 years ago Christopher Columbus ran out of ideas and here you have it. In any case, both countries use EXACTLY the same demonym (Dominican) so you can't really blame foreigners for the confusion.
I’m a Canadian and Where can you life outside of Canada and the USA the political garbage that is happening here is crazy Time to bale out ✌️👍🇨🇦
Let’s go Trudeau Let’s go Brandon 👎
Thanks I took down your number and will ask a couple questions ✌️🇨🇦🙏
A place call île de la torture- tortuga island , I think it is in Haiti. So beautiful cheap and safe from the issues facing that country
My life is my and here doesnt accept my rights
Sorry a lot of this doesn't ad up. If you live in the US and making money in the US then how will you save money if you move to St Lucia? You can't move to St Lucia and continue to make an income in the US and expect to lower your taxes. Any income made in the US will still be taxed at US rates. If you want to lower your taxes you will have to move and also make your income outside the US. I would love to hear from others who know more than me on this subject because Andrew is obviously ducking this very important part!
This isn't accurate, there is a difference between "earned income" in the USA and income earned from US customers as a foreign company. Plenty of companies and individuals operate from outside of America and sell to the American market. If you have a job in the US, that's a different story. But that's not his target audience, business owners who are able to operate internationally are the target audience.
@@dankerchum So you're saying your corporate tax is less as a Foreign Business doing business in America than as an American Business doing business in America?
@@jdp0359
1. If you, as an American, ordered a certain product (for example, a boat project) from an Indian designer, then the income received by the designer from this transaction is taxed by the government of India. The US budget will get nothing from this deal.
2. if you are registered with a broker as a "tax resident" of the USA, the broker will deduct 30% of income tax from dividends of shares of American companies, but if you are registered with the same broker as a "resident of Russia", then he will deduct only 13% from the same income.
If you're retired it could make sense. Move your assets to countries with strong banking (not St L). St Lucia citizenship is just to get zero taxation on foreign source income. You can still receive Soc Sec as well even if no longer US citizen. And he's not saying you have to move to St Lucia, that's not a requirement and plenty of other places will accept you as temp or permanent resident.