If you go for something like that 80% method, seems like the short third spoke could easily be accomplished with tourist Visa, especially if you don't have the funds to buy into another residency.
Hell, as an American, you could even use the US as a third spoke for a 30 day stint. The Foreign Income Exclusion doesn't cutoff until 35 days. Just keep a 5 day buffer just in case.
I'm pretty happy with my trifecta: 5 months in Canada (home and business), 5 in Chile (home and a vineyard), 2 in Mexico/Philippines and an additional new country. I have Canadian and Chilean passport. The only drawback is paying taxes to Trudeau.
I generally do 5.5 months Asia, 5.5 in Latin America. Then go visit family in my home (EU) country for one month of the year. I maintain bank accounts etc in home country but with only a month spent there each year then the taxman doesn't really have an argument when it comes to the residency test. Although, I don't own property there either.
I love variety and exploring, so 4 or 5 places each year would be nice. I'm thinking something like Medellin, Santiago, Pattaya, Singapore and somewhere in Malaysia or the Phillipines would be a very satisfying lifestyle for a few years.
That can get exhausting. Asia I can’t stand humidity, bugs and smells. Columbia, is down right dangerous don’t care what anyone says, I’ve been “watched” never felt safe. Ever. Especially if you’re a single dude. Relations with women can cost you your life or your $, met plenty of men in Columbia who with all got noble intentions get extorted and cops don’t do anything. Thailand is the same. BOTH countries are dirty and beyond 1 month anyways it gets exhausting to deal with the grime. My experience living in 15 different countries.
Indeed a very nice concept. A difficulty may be to enjoy a social life as well at the same time. The 5, 5, 2 model seems to accommodate this somewhat, where you may have an active social life in 2 place. The difficulty with pursuing an active social life is of course that your friends more or less also expect that you are present the year around. I am still figuring out how to make this work best. I already have 3 homes in 3 different countries, so the first step has been completed...
When I was younger, I had a setup where I was gone for two weeks, then back home for 2 weeks, repeat-so just about 50% of the time in my base city. I was part of a friend group in that city which would hang out together regularly, whether I was there or not, so I just rejoined them every time I came back home. Of course, they would have stories of what I missed when I was gone, so I was always "missing out" on some stuff. But I obviously gained a lot from the adventures I had while I was away, too, so it was a good trade for me and I liked that setup quite a bit.
Have you thought just because you weren't able to get a visa for one year. You'll be a tax resident in one of the 5-5 countries this year. There Goes all that you were planning to do.
The 80/20 trifecta works really well is you are spending 4 months a year in the UAE and 5 months year in the Cayman Islands or Monaco, or Bahamas, or one of the other tax free islands in the Caribbean or even one of the territorial tax countries with a standar days test. Unless you want to spend the other three months in a country you are a national of that uses the center of interest test, unless they have a tax treaty with the other country. In the case of Malta for example, Monaco and the UAE would be helped by that treaty.
Andrew and the NC community have really given us inspiration and ideas based off of what we think is desirable in our eyes. I often wonder what country (ies) would be best if taxation and cost of living did not matter as much, but instead, we are simply trying to diversify our savings in case something truly catastrophic happens to our fiat US monetary system. Obviously, so many think about this because of gold sales, crypto sales, and living abroad for that reason. If you/we try to get away from this fiat impact that excludes most of the countries in the world. Then if you look at debt to GDP which gets rid of Japan and a lot of other places we are left with what? Korea, Thailand, Malaysia, Singapore, Switzerland? In other words, a country in good fiscal (debt to GDP) standing and not tied to the US dollar AND we would like to live in that place. Would love any feedback of country choices within that criteria.
LOVE this video Andrew! Can you do a video on ‘hub cities/locations’ for each continent pls? (I’ve looked through all NC vids but can’t see one) Thank you! 🎉
@@nomadcapitalist *The FairTax Act of 2023* effectively does away with U.S. citizen global taxation - as it is a consumption tax on domestic sales and services. No taxes to file. This is slightly different from the previous "FairTax Act of [put year here] ," in that will get enough traction in the House to get attention. I don't know if you have covered any of the past iterations of this Bill, but it would be entertaining to do so now.
nice video. in the past, i'd understood that one should avoid at ALL COST acquiring Argentina citizenship because there's no way to denaturalize & the country could decide to use a citizenship based taxation system (like USA) at some point.
I have the problem many true nomads face in that it is hard to get a temporary work permit for one month, which is what we stay to work the various art galleries, but this is a problem also for speakers, athletic people and performers. And, it is hard to find someone to handle all paperwork and taxes for such a short period of time. As you know, the laws change so much it is a problem when you travel a different country each month all year.
Thank you, Andrew. Can one claim a tax residency in Georgia 🇬🇪, without having to obtain a temporary residence through real estate purchase, which has to be renewed annually for 10 years?
You can if you stay 183 days in the country legally. And if you buy over 350k USD in property you get basically permanent residence right away, 100k to have temp. residence based on property purchase, very easy to renew, but to renew ID card, you still need to go to Georgia, keep that in mind. Georgia is an amazing country, my new home is almost finished there! Looking forward to next summer!
I'm an American, but I can gain Irish citizenship because my mother is Irish. How can being an Irish citizen work in my Trifeca? Do I have to live in Ireland? (Not really my desire) I'd like to use an Irish Passport, and travel/live between the US, Panama, where I am a permanent resident, and Lisbon, but where would my tax home be, if I live most of the time out of the US?
With an Irish passport you are an EU citizen and can live in Portugal. Additionally you can move to the U.K. and come as a non-Dom and then spend some time there, a lot in Portugal and of course more in Panama and the US. Then you would file tax in the U.K. and all foreign income out of the U.K. is tax free. If you are a U.S. citizen you will still need to file tax with US authorities.
@@plizak The moral of the story is if you are a US Citizen, when it comes to taxes, you are screwed, if you want to do things legally. That's the whole point....
Question. As a Canadian, do we have this foreign income exclusion? How could I maximize living overseas, but doing business in the US and other countries? I was born in South Africa, so I could apply for a South African passport. I am pretty much country agnostic, I could live and do business anywhere.
No need for FIE in Canada as there is no citizenship based taxation (yet). If you can cut appropriate ties to Canada, you can get out of the tax net. The USA folks are stuck with citizenship based taxation, so the FIE is important for them to at least get some benefit for no longer residing in the U.S.
I second Alex. What you need to do is move to a low tax country first. Then file income tax there for a year so revenue Canada will leave you alone. Then you can start the trifecta (even in your first year). If you are older you can look at places for retirement visas that are non-Dom so you don’t pay tax on income earned overseas.
Tax question here - If you are a U.S. citizen and living overseas but you work in the USA for a U.S. company (for less than 6 months a year) can you take advantage of the foreign income tax exclusion?
Does direct employment for an employer in country B - carried out remotely by the employee from country A - typically count as foreign-source by country A? I see varied and vague definitions of "foreign-source" - keen to understand if it can be tax exempt if country A is territorial regime.
@Andrew be careful in what you say about the trifecta method and Asia. Some Asian countries have some really screwy tax laws. Here is one example. 1) If a person is resident in India for less then 182 days in any tax year, they are non-resident. India only taxes work and assets in India. They are classified as Non-resident Indians (NRI). 2) But there are people like me, born in USA, USA citizen, Indian origin who hold something known as a OCI (visa). India created this to tap their diaspora. They call it a citizenship, but in reality it is India's equivalent to the US Green Card. Many Indians have this. What implication this has, particularly those who hold it, is that while you effectively can reside in India as a resident, you also have the right-to-work there. Therefore what happens is the Indian government presumes any OCI who is resident in India, is subject to tax. If you intend to reside in India long term ..like over 90 days as an OCI, be ready to file for a 'No Objection Certificate' ftom the local tax authority, or else they will hassle you. I put 90 days l, significantly shorter the 180 days, because India has programs like this in hopes of getting new taxpayers to fill it's coffers. Most people who choose to live in India like what you propose are maybe those who have, or qualify, for OCI. I am ready to tell you that India is not as straightforward as one thinks it is. It can be a mess.
Hey, it seems straightforward if you apply yourself to their rules ....IE earn money or buy assets there ...which your goal of shortening the diaspora did as well. Most countries will do this. What most countries also don't do is tax income not from that place .
It's all very interesting, but most countries won't tax you on foreign income that you keep overseas, even if you live in that country all year long. That's the case of my own country of origin, Costa Rica.
I am working on a trip to Portugal for three months will stay in 3 separate locations 1month each trying to figure what area would be best to stay in as for living not a rich guy but a pensioner? Great show thanks
What?!!!? I have five flights this week. The worst part was I couldn’t do online check-in to the USA because of ESTA issues but I do not require one. Airlines have even gotten over mask mandates on flights (except for Korean air last month).
As in having no declared tax home? It could work, BUT I've heard of it causing problems for people when they do once again establish a residency that requires tax filings. The issue comes when the taxing country wants to know about your former taxing country and there isn't one due to the large hole from the yacht life. Might be better to get a country to take you as a resident, even if you're not spending much time there.
I'd say much safer to establish tax residence in a tax friendly country - if you have a tax residency others will leave you alone more likely as you sail around.
@@p.c.h.6721 Thanks! So I work online for a UK company. If I'm living in Mexico with a bank account etc and have cut my ties financially in the UK. Would you happen to know how long I could work for whilst back?
Are you aware that in order to remain in Mexico you must have a valid passport even if you are granted permanent residency by Mexico? Should the Country in which you have your passport revokes that passport, you cannot legally remain in Mexico.
Why not, just have Quadfecta and have 4 place where you stay 90 days or less, citizenship Granada hub, Malta, Turkey (a hub and just money is the bank) and main “home” in I Ireland 🇮🇪 where you pay taxes ? Idk then you get tourist visa so you don’t get caught up in place taxes
Is there a way to pay US taxes on a US-based business as a non-resident and non-citizen while living overseas in Europe, without paying tax on WORLDWIDE income? Or once you are in the US tax system for the fiscal year they will certainly tax you on worldwide income? I'm asking this from the mindset of having businesses in the US and Europe (say Greece/Italy/Spain) and where the Foreign Earned Income Exclusion will not nearly be enough to cover the taxes already paid to Greece/Italy/Spain etc. Basically I'm looking for a way to pay taxes in the US on US-sourced income only. My business in the US would be a physical gym location. Thanks in advance
How about a US/Ireland retired citizen making Ireland their tax home and then becoming a permanent resident of Croatia, residing there, and only being taxed on income earned in Croatia?
If someone is routing all income through holding company and Trusts, then does it still require a trifecta kind of setup? It kinds of became obsolete, no?
You can read our blog about How to Get Argentina Citizenship and Residency: nomadcapitalist.com/global-citizen/second-passport/how-to-get-argentina-citizenship-and-residency/ If you need personalized help, feel free to reach out to our team through this link: nomadcapitalist.com/apply/
In your RUclips main image, thumbnail for this video or some videos like this, the font that you use in the word in for instance, in this particular case, I find to be too small and doesn’t flow well with the overall title. Seems like I take two or three reads to fully understand what you’re trying to say in the title at times. Sorry, I know this is a bit of a curveball left field nit, but I don’t know where else to make these types of feedback, or even if anyone cares
As an American, I understand I can spend 90 days in Malaysia on a tourist (social visit) pass. Is it possible to do this twice a year and alternate with 90 days in Thailand or Singapore? I heard Malaysian immigration can deny entry for any reason. True?
I have entered Malaysia Thailand Laos at least 10 times Never had a problem Can get a 5 year visa in Cambodia and 10 and 20 year visas in Thailand I have floated around SE Asia for 15 years. No visa refusals in 50 attempts
Would be interesting to focus in this model also on purely wealth tax, i.e. which counties have low taxes from this perspective (specifically interesting for people that are retired). However you need to take into consideration that when having a home somewhere you are often obliged to pay home wealth tax in that country, as well as paying income tax in case you would rent out your property...
I think things like St Lucia passports fix many of these pain points and is part of my plan ....the thing is ...if you don't want to trigger , you have to limit your time and your income is not derived where you are currently staying , alleviates a lot here ....but maybe not all of it.
I don't hear people discussing liveaboard boats in this scenario. Perhaps because a boat isn't an asset like real estate, but it IS a lifestyle thing, and it does enable one to spend varying amounts of time in different jurisdictions (or outside of them).
Congrats Andy. The man singlehandedly responsable for ending golden visa programs. A metaphor with what's wrong with the internet when you go public massively about 'undiscovered beaches' tropical paradises no one knows about etc. you're guaranteeing that a few years down the line they will no longer exist. Once again, congratulations. The golden goose is no more.
I'm Canadian and Bosnian citizen living in Canada for 20 years. I would like to try quadfecta for a couple of years. Are there any advantages/disadvantages being Canadian/Bosnian? Where should I fill my taxes running an online music school or can I somehow avoid or minimize it all together 😊? Thanks
I like your channel and I follow you since quite some time. My question: I live in Paris I have an American green card and start moving my steps in florida But I would love a 3rd country. The final project is to increase my wealth, pay only the right amount of taxes and nothing more, and be flexible. What do you suggest? Can we talk about it? Thanks
Your strategy is exactly the strategy of Quraish ( the tribe of prophet Muhammad peace be him and from which the general Muslim leader has to be chosen). This method made them to be able the most significant tribe in Arabia and then lead Arabia to defeat Roman and Persian empires in record time and from nothing. Believe it or not, this strategy is very deep in the Islamic and Arab mentality and it has its own chapter in Qur'an.
@Itsme Alex understanding that living in more than one country in a regular pattern can bring so many opportunities. And you can't get these opportunities by being rigid and sticking in one country or being too loose and don't have a clear program.
Continuously moving from place to place to avoid paying taxes sounds like a terrible idea. You establish no roots, and this strategy does not work if you have kids in school. If your goal is to avoid paying taxes, find a nice place you like with low taxes and settle there.
If you go for something like that 80% method, seems like the short third spoke could easily be accomplished with tourist Visa, especially if you don't have the funds to buy into another residency.
Hell, as an American, you could even use the US as a third spoke for a 30 day stint. The Foreign Income Exclusion doesn't cutoff until 35 days. Just keep a 5 day buffer just in case.
I visualize going back and forth between the Philippines and Thailand plus Vietnam
Did you finally mention Africa? Nice.
My dream trifecta is winter in a Mexican beach resort, spring in Europe, and summer in central highlands of Mexico.
I'm pretty happy with my trifecta: 5 months in Canada (home and business), 5 in Chile (home and a vineyard), 2 in Mexico/Philippines and an additional new country.
I have Canadian and Chilean passport. The only drawback is paying taxes to Trudeau.
You will in time get to love the SII once they stsrt meddling with you...
I generally do 5.5 months Asia, 5.5 in Latin America. Then go visit family in my home (EU) country for one month of the year. I maintain bank accounts etc in home country but with only a month spent there each year then the taxman doesn't really have an argument when it comes to the residency test. Although, I don't own property there either.
I love variety and exploring, so 4 or 5 places each year would be nice. I'm thinking something like Medellin, Santiago, Pattaya, Singapore and somewhere in Malaysia or the Phillipines would be a very satisfying lifestyle for a few years.
That can get exhausting. Asia I can’t stand humidity, bugs and smells. Columbia, is down right dangerous don’t care what anyone says, I’ve been “watched” never felt safe. Ever. Especially if you’re a single dude. Relations with women can cost you your life or your $, met plenty of men in Columbia who with all got noble intentions get extorted and cops don’t do anything. Thailand is the same. BOTH countries are dirty and beyond 1 month anyways it gets exhausting to deal with the grime.
My experience living in 15 different countries.
@@shehitmewiththeiamnothappy2484 Doing it for 25 years Not tired yet flying two hours every two months
Indeed a very nice concept. A difficulty may be to enjoy a social life as well at the same time. The 5, 5, 2 model seems to accommodate this somewhat, where you may have an active social life in 2 place. The difficulty with pursuing an active social life is of course that your friends more or less also expect that you are present the year around. I am still figuring out how to make this work best. I already have 3 homes in 3 different countries, so the first step has been completed...
When I was younger, I had a setup where I was gone for two weeks, then back home for 2 weeks, repeat-so just about 50% of the time in my base city. I was part of a friend group in that city which would hang out together regularly, whether I was there or not, so I just rejoined them every time I came back home. Of course, they would have stories of what I missed when I was gone, so I was always "missing out" on some stuff. But I obviously gained a lot from the adventures I had while I was away, too, so it was a good trade for me and I liked that setup quite a bit.
Have you thought just because you weren't able to get a visa for one year. You'll be a tax resident in one of the 5-5 countries this year. There Goes all that you were planning to do.
The 80/20 trifecta works really well is you are spending 4 months a year in the UAE and 5 months year in the Cayman Islands or Monaco, or Bahamas, or one of the other tax free islands in the Caribbean or even one of the territorial tax countries with a standar days test. Unless you want to spend the other three months in a country you are a national of that uses the center of interest test, unless they have a tax treaty with the other country. In the case of Malta for example, Monaco and the UAE would be helped by that treaty.
Andrew and the NC community have really given us inspiration and ideas based off of what we think is desirable in our eyes. I often wonder what country (ies) would be best if taxation and cost of living did not matter as much, but instead, we are simply trying to diversify our savings in case something truly catastrophic happens to our fiat US monetary system.
Obviously, so many think about this because of gold sales, crypto sales, and living abroad for that reason. If you/we try to get away from this fiat impact that excludes most of the countries in the world. Then if you look at debt to GDP which gets rid of Japan and a lot of other places we are left with what? Korea, Thailand, Malaysia, Singapore, Switzerland? In other words, a country in good fiscal (debt to GDP) standing and not tied to the US dollar AND we would like to live in that place. Would love any feedback of country choices within that criteria.
Loving these videos Andrew!
LOVE this video Andrew!
Can you do a video on ‘hub cities/locations’ for each continent pls?
(I’ve looked through all NC vids but can’t see one)
Thank you! 🎉
here's mine: 2 months Asia, 2 months Europe, 2 months middle east, 2 months Africa, 2 months Latin America, 2 months carribean. 👍😉🔺
What about Antarctica ? Need to calculate that
@@nikosniko7092 There's the penguin tax, so be careful about that.
If you ain't making millions upon millions. Wouldn't that cost more in travel than just paying the tax?
Andrew ! thank 🙏 you, this method smart 👍
and please add the idea - never business places where live
Thank you 🙏
This idea came from the perpetual traveller ,three flag principal , trifecta is a rebranding
Thanks for the educationally relevant content
Glad to have you.
@@nomadcapitalist *The FairTax Act of 2023* effectively does away with U.S. citizen global taxation - as it is a consumption tax on domestic sales and services. No taxes to file. This is slightly different from the previous "FairTax Act of [put year here] ," in that will get enough traction in the House to get attention. I don't know if you have covered any of the past iterations of this Bill, but it would be entertaining to do so now.
@@shotelcoHey what's the bill about?
Thank you so much Andrew
nice video. in the past, i'd understood that one should avoid at ALL COST acquiring Argentina citizenship because there's no way to denaturalize & the country could decide to use a citizenship based taxation system (like USA) at some point.
Is there a quadruple method?
once again, Nimes arena showed instead of the Colosseum hehehe Andrew u gotta follow your team more closely! :D
I have the problem many true nomads face in that it is hard to get a temporary work permit for one month, which is what we stay to work the various art galleries, but this is a problem also for speakers, athletic people and performers. And, it is hard to find someone to handle all paperwork and taxes for such a short period of time. As you know, the laws change so much it is a problem when you travel a different country each month all year.
What type of job/business best fit this style of life ? Swing trader ?
Thank you, Andrew.
Can one claim a tax residency in Georgia 🇬🇪, without having to obtain a temporary residence through real estate purchase, which has to be renewed annually for 10 years?
You can if you stay 183 days in the country legally. And if you buy over 350k USD in property you get basically permanent residence right away, 100k to have temp. residence based on property purchase, very easy to renew, but to renew ID card, you still need to go to Georgia, keep that in mind. Georgia is an amazing country, my new home is almost finished there! Looking forward to next summer!
@@wouter1602 thank you!
I'm an American, but I can gain Irish citizenship because my mother is Irish.
How can being an Irish citizen work in my Trifeca? Do I have to live in Ireland? (Not really my desire)
I'd like to use an Irish Passport, and travel/live between the US, Panama, where I am a permanent resident, and Lisbon, but where would my tax home be, if I live most of the time out of the US?
With an Irish passport you are an EU citizen and can live in Portugal.
Additionally you can move to the U.K. and come as a non-Dom and then spend some time there, a lot in Portugal and of course more in Panama and the US. Then you would file tax in the U.K. and all foreign income out of the U.K. is tax free. If you are a U.S. citizen you will still need to file tax with US authorities.
@@plizak The moral of the story is if you are a US Citizen, when it comes to taxes, you are screwed, if you want to do things legally. That's the whole point....
Question. As a Canadian, do we have this foreign income exclusion? How could I maximize living overseas, but doing business in the US and other countries? I was born in South Africa, so I could apply for a South African passport. I am pretty much country agnostic, I could live and do business anywhere.
No need for FIE in Canada as there is no citizenship based taxation (yet). If you can cut appropriate ties to Canada, you can get out of the tax net. The USA folks are stuck with citizenship based taxation, so the FIE is important for them to at least get some benefit for no longer residing in the U.S.
@@realalexmackenzie thanks !
I second Alex. What you need to do is move to a low tax country first. Then file income tax there for a year so revenue Canada will leave you alone. Then you can start the trifecta (even in your first year). If you are older you can look at places for retirement visas that are non-Dom so you don’t pay tax on income earned overseas.
@@plizak Thanks ! Will be looking.
Thank you.
I am thinking about doing 2 months in Cyprus non-dom, 5 months in one European country and 5 months in another. Repeat the next year.
Tax question here -
If you are a U.S. citizen and living overseas but you work in the USA for a U.S. company (for less than 6 months a year) can you take advantage of the foreign income tax exclusion?
With the exclusion, you cannot be in the USA or its territories(Guam, Pureto Rico, US Virgin Islands, etc) for at least 330 days of the year.
@@kwajrod Thank you!
There's 2 tests 1- days test (330+) 2- residency test. Both tests are on the IRS website.
The ideas are amazing and challenging but the motivation to do them is so low now unless making such money to worry about the taxes!!
“Closer to home “meaning that you still consider the US your home your real home 2:21
Does direct employment for an employer in country B - carried out remotely by the employee from country A - typically count as foreign-source by country A? I see varied and vague definitions of "foreign-source" - keen to understand if it can be tax exempt if country A is territorial regime.
Good question.
@jay23cr most countries? Most countries in Europe, whether in the EU or not will tax foreign income.
@Andrew be careful in what you say about the trifecta method and Asia. Some Asian countries have some really screwy tax laws. Here is one example.
1) If a person is resident in India for less then 182 days in any tax year, they are non-resident. India only taxes work and assets in India. They are classified as Non-resident Indians (NRI).
2) But there are people like me, born in USA, USA citizen, Indian origin who hold something known as a OCI (visa). India created this to tap their diaspora. They call it a citizenship, but in reality it is India's equivalent to the US Green Card. Many Indians have this.
What implication this has, particularly those who hold it, is that while you effectively can reside in India as a resident, you also have the right-to-work there. Therefore what happens is the Indian government presumes any OCI who is resident in India, is subject to tax. If you intend to reside in India long term ..like over 90 days as an OCI, be ready to file for a 'No Objection Certificate' ftom the local tax authority, or else they will hassle you. I put 90 days l, significantly shorter the 180 days, because India has programs like this in hopes of getting new taxpayers to fill it's coffers.
Most people who choose to live in India like what you propose are maybe those who have, or qualify, for OCI.
I am ready to tell you that India is not as straightforward as one thinks it is. It can be a mess.
Hey, it seems straightforward if you apply yourself to their rules ....IE earn money or buy assets there ...which your goal of shortening the diaspora did as well. Most countries will do this. What most countries also don't do is tax income not from that place .
If you split by 3 and keep under 183 days, then you're not a tax resident anyway. Is there any issues maintaining a stock broker account?
Wow! That's a new twist ....jesus! 😮
I dont hear you say much about Peru. Are they not friendly to foreigners? What are the tax structures there?
Paraguay is good..10 percent tax rate. But the weather is too hot.
It's all very interesting, but most countries won't tax you on foreign income that you keep overseas, even if you live in that country all year long. That's the case of my own country of origin, Costa Rica.
Costa Rica is the exception not the rule... most countries do in fact tax your worldwide income regardless of where you keep it.
@@davidrichards1741 This has WEF written all over it.
Lucky you! Western countries exact taxes from foreign income, and how!
Well you are lucky
Most countries do
@@simonchristopherrule7313 usa and Eritrea
I like to stay in North America for productivity and efficacy... modified trifecta (6+3+3) sounds good, would Mexico, the USA, and Canada work?
I am working on a trip to Portugal for three months will stay in 3 separate locations 1month each trying to figure what area would be best to stay in as for living not a rich guy but a pensioner? Great show thanks
Andrew, please tell us what currencies you are holding and where can we buy real estate to earn in those currencies.
The bad thing about that is they have made it hell to fly anywhere now
Cheers from 2 Canucks living in Mexico and loving it
thanks for all you do
What?!!!? I have five flights this week. The worst part was I couldn’t do online check-in to the USA because of ESTA issues but I do not require one.
Airlines have even gotten over mask mandates on flights (except for Korean air last month).
Interesting videos. Instead of buying houses, could you live on a yacht and sail around and don't stay in one place for too long?
As in having no declared tax home? It could work, BUT I've heard of it causing problems for people when they do once again establish a residency that requires tax filings. The issue comes when the taxing country wants to know about your former taxing country and there isn't one due to the large hole from the yacht life. Might be better to get a country to take you as a resident, even if you're not spending much time there.
I'd say much safer to establish tax residence in a tax friendly country - if you have a tax residency others will leave you alone more likely as you sail around.
Hi, Andrew, good video as always
Please, can you make a video about Brazil VIPER visa?
Greetings!
I'm from the UK. I'm looking to spend most my time in Mexico.
Does anyone know how long I can come back to the UK to visit without having to pay tax?
@@p.c.h.6721 Thanks for your response
Would it be possible to talk to you about this?
@@p.c.h.6721 Thanks!
So I work online for a UK company.
If I'm living in Mexico with a bank account etc and have cut my ties financially in the UK. Would you happen to know how long I could work for whilst back?
Are you aware that in order to remain in Mexico you must have a valid passport even if you are granted permanent residency by Mexico? Should the Country in which you have your passport revokes that passport, you cannot legally remain in Mexico.
@@queserasera1674 why would they revoke my passport?
@@p.c.h.6721 Very thorough answer. Thank you, much appreciated!
Hi Nomad Capitalist, not sure if you’ll see this comment but could you do a video on the best countries to be an Airbnb host?
Why not, just have Quadfecta and have 4 place where you stay 90 days or less, citizenship Granada hub, Malta, Turkey (a hub and just money is the bank) and main “home” in I Ireland 🇮🇪 where you pay taxes ? Idk then you get tourist visa so you don’t get caught up in place taxes
Is there a way to pay US taxes on a US-based business as a non-resident and non-citizen while living overseas in Europe, without paying tax on WORLDWIDE income? Or once you are in the US tax system for the fiscal year they will certainly tax you on worldwide income? I'm asking this from the mindset of having businesses in the US and Europe (say Greece/Italy/Spain) and where the Foreign Earned Income Exclusion will not nearly be enough to cover the taxes already paid to Greece/Italy/Spain etc.
Basically I'm looking for a way to pay taxes in the US on US-sourced income only. My business in the US would be a physical gym location.
Thanks in advance
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How about a US/Ireland retired citizen making Ireland their tax home and then becoming a permanent resident of Croatia, residing there, and only being taxed on income earned in Croatia?
Texas, Puerto Rico, probably Mexico
what about ireland?
If someone is routing all income through holding company and Trusts, then does it still require a trifecta kind of setup? It kinds of became obsolete, no?
Does Argentina have a golden visa program? If so what are the requirements, please? Thank you.
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Thank you for your time and attention.@@nomadcapitalist
Does someone with children live like this and how do you school your kids then?😊
In your RUclips main image, thumbnail for this video or some videos like this, the font that you use in the word in for instance, in this particular case, I find to be too small and doesn’t flow well with the overall title. Seems like I take two or three reads to fully understand what you’re trying to say in the title at times. Sorry, I know this is a bit of a curveball left field nit, but I don’t know where else to make these types of feedback, or even if anyone cares
As an American, I understand I can spend 90 days in Malaysia on a tourist (social visit) pass. Is it possible to do this twice a year and alternate with 90 days in Thailand or Singapore? I heard Malaysian immigration can deny entry for any reason. True?
Not sure but you could also do 90 days in Singapore. Several other countries offer similar programs.
I have entered Malaysia Thailand Laos at least 10 times Never had a problem Can get a 5 year visa in Cambodia and 10 and 20 year visas in Thailand I have floated around SE Asia for 15 years. No visa refusals in 50 attempts
I m looking for canada 6m ( I come frome Quebec) and mexique + costa rica.
ceci n'est pas un plan pour sauver de l'impôt , c'est seulement pour voyager et garder sa carte d'assurance-maladie
Would be interesting to focus in this model also on purely wealth tax, i.e. which counties have low taxes from this perspective (specifically interesting for people that are retired). However you need to take into consideration that when having a home somewhere you are often obliged to pay home wealth tax in that country, as well as paying income tax in case you would rent out your property...
I think things like St Lucia passports fix many of these pain points and is part of my plan ....the thing is ...if you don't want to trigger , you have to limit your time and your income is not derived where you are currently staying , alleviates a lot here ....but maybe not all of it.
Does anyone know of a bank that would do a mortgage to an expat?
Philippines
India
Australia
I don't hear people discussing liveaboard boats in this scenario. Perhaps because a boat isn't an asset like real estate, but it IS a lifestyle thing, and it does enable one to spend varying amounts of time in different jurisdictions (or outside of them).
That would not work in EU or if your income is here. You will pay the difference anyway, so it makes no sense.
That a heck of alot of crappy airlines food to eat each year, just to save money on taxes
İf freedom is more important where do I go
Thank you Andrew!
I’d love to know where to get full advice for someone who earns less that £50k per annum. Plus where to pick as a single woman
4 diff places is better because it's 90 days each place.
Congrats Andy. The man singlehandedly responsable for ending golden visa programs. A metaphor with what's wrong with the internet when you go public massively about 'undiscovered beaches' tropical paradises no one knows about etc. you're guaranteeing that a few years down the line they will no longer exist. Once again, congratulations. The golden goose is no more.
I'm Canadian and Bosnian citizen living in Canada for 20 years. I would like to try quadfecta for a couple of years. Are there any advantages/disadvantages being Canadian/Bosnian? Where should I fill my taxes running an online music school or can I somehow avoid or minimize it all together 😊? Thanks
I like your channel and I follow you since quite some time.
My question:
I live in Paris
I have an American green card and start moving my steps in florida
But I would love a 3rd country.
The final project is to increase my wealth, pay only the right amount of taxes and nothing more, and be flexible.
What do you suggest?
Can we talk about it?
Thanks
France or Italy? Any sane person would be packing their bags already
Reason is not automatic
i wanted to give up us citizenship but can't speak french and spanish
Google translate, problem solved
Your strategy is exactly the strategy of Quraish ( the tribe of prophet Muhammad peace be him and from which the general Muslim leader has to be chosen). This method made them to be able the most significant tribe in Arabia and then lead Arabia to defeat Roman and Persian empires in record time and from nothing. Believe it or not, this strategy is very deep in the Islamic and Arab mentality and it has its own chapter in Qur'an.
@Saleh Ali surat Quraish
@Itsme Alex understanding that living in more than one country in a regular pattern can bring so many opportunities. And you can't get these opportunities by being rigid and sticking in one country or being too loose and don't have a clear program.
Does that make Andrew the new messiah?
@@steveg6512 🤣🤣
Continuously moving from place to place to avoid paying taxes sounds like a terrible idea. You establish no roots, and this strategy does not work if you have kids in school. If your goal is to avoid paying taxes, find a nice place you like with low taxes and settle there.
Interesting All Tammys comments are gone from earlier because she exposed Nomad.
With all due respect you're not the first person to have come up with that hahahaha
Doesn't work with kids
When u r single yes u can lieve 4 months here and 4months there but when u have family and kids u can’t do that is not that simple
Home schooling. Ron Paul's curriculum.