Nomad Capitalist helps successful people like you become global citizens using 100% legal strategies for business, investing, and citizenship planning.
Move your money to a safe place
Strategies: Offshore banking, offshore gold storage
While casually dropping “my Hong Kong bank account” into conversation at a party may make you sound like an international man of mystery, keeping some of your assets in offshore banks and offshore vaults is the important first step in internationalization.
If all of your money is in one country, all it takes is one angry bureaucrat to push a few buttons on a computer and seize or freeze your cash. And while banks in the western world insult you with their tiny interest rates, many foreign banks actually pay high yields as high as 10%.
Having money in another country also allows you to reduce your sovereign risk by holding multiple currencies. It’s not just sexy, it’s good diversification.
Reduce your corporate tax bill
Strategies: Offshore company
An offshore corporation is your ticket to building a real business that pays reasonable tax rates – if it pays any tax at all. As a global entrepreneur, you can choose where to set up shop based on the free market, not arbitrary geography. You don’t have to base your business in your home country if it doesn’t make sense.
Plenty of countries are rolling out the red carpet for entrepreneurs. You can enjoy many of the offshore benefits big corporations do completely legally. I believe you don’t owe any country a claim to your business if they haven’t earned it.
You can legally and easily move your entire business overseas, from bank accounts to merchant accounts to web hosting. Plenty of consultants, e-commerce businesses, and digital nomads do this to pay zero in tax where they live… and it’s all 100% legal.
Become a citizen of the world
Strategies: Second residency and second passport
Having a second residence in another country is a great way to diversify away from your home country, pay less in taxes, and possibly obtain a second citizenship. It means you’ll always have some place to go if things get bad at home. (Imagine how many people throughout history would have loved to have an escape hatch.)
Getting residency isn’t hard, and if you’re looking to truly escape your home country, residency is an affordable path to a second passport. With a second citizenship, you’ll guarantee yourself the freedom to travel where you want and to divorce your government.
Second citizenships can also be obtained through an investment in a country’s economy or through your ancestry. You may qualify for a second passport right now and not even know it.
Live where you want (or nowhere)
Strategies: Living Overseas
Living the expat lifestyle is one I personally enjoy. As a perpetual traveler, I’m free to spend time in some of the best countries on earth… then leave to go somewhere else. Along my travels, I’ve spent time in a lot of places that made me say, “I could live here.” Additionally, I’ve spent extended time in multiple countries and found the experience more enjoyable than life in the US.
Beyond living away from your home country is the issue of your citizenship. There may come a time when the citizenship you were born with – the one you were brainwashed to believe was a gift from the heavens – becomes an albatross. This is when the idea of “expatriation” or citizenship renunciation comes into play.
If you’re an American, there are already countless tax laws that make being a US expat more difficult than it should be. When that’s the case, I don’t believe you’re under any obligation to pay homage to the country where you just so happened to evacuate a birth canal.
Become a global entrepreneur
Strategies: Foreign business and investment
In medieval times, merchants sold their goods and services to their neighbors in the town square. Eventually, horse and wagon allowed them to transport goods beyond the town borders. Soon, the Industrial Revolution came and broke trade wide open.
In the 21st century, you don’t have to be constrained by silly borders. So many entrepreneurs in places like California could grow faster and keep more of their profits by moving overseas. It’s even easier to start and succeed at a business in countries where the competition is far less fierce. Countries like Chile are welcoming entrepreneurs with open arms… and free cash. That’s how badly they want entrepreneurial talent.
Why spin your wheels in a place like the US when you could achieve faster growth, greater market share, and have cheaper labor and fixed costs in another country that values your innovative spirit?
Live the life of your dreams
Strategies: Lifestyle Design
You’ve been lied to. Society has told you that the path to happiness is fitting within the neat little boxes it sets out. Misery loves company and conformity is not a virtue. You don’t have to go to university, get a job in a cubicle, or marry your high-school sweetheart if you don’t want to.
By not letting other people or their opinions of you control your life, you can find the ultimate freedom. I frequently recommend young entrepreneurs skip university in favor of traveling. Spend a year or two overseas and you’ll learn more about the world, business, and life than you would in a balmy lecture hall… while saving thousands of dollars that can be applied to future opportunities.
With a little hard work, you can create a small yet reliable stream of income and live on your own terms. It doesn’t take much to live in emerging countries with rich culture, great food, and beautiful scenery. Divorce yourself of the notion that slaving away now for greater reward later is the way to go.
Andrew does a very good job educating and providing solutions for lots of customers. Have been a customer for his information products, recommended.