Nomad Capitalist Audio Experience

Andrew is locked down in Malaysia and explains why the coronavirus is the perfect reminder of the need for a safe haven second residence and second citizenship.

https://nomadcapitalist.com/2020/03/06/internationalize-panic/

Andrew Henderson and the Nomad Capitalist team are the world's most sought-after experts on legal offshore tax strategies, investment immigration, and global citizenship.

We work exclusively with seven- and eight-figure entrepreneurs and investors who want to "go where they're treated best".

Work with Andrew: http://bit.ly/Nomad-Capitalist-Application

Andrew has started offshore companies, opened dozens of offshore bank accounts, obtained multiple second passports, and purchased real estate on four continents. He has spent the last 12 years studying and personally implementing the Nomad Capitalist lifestyle. Our growing team of researchers, strategies, and implementers add to our ever-growing knowledge base of the best options available.

In addition, we've spent years studying the behavior of hundreds of clients in order to help people get the results they want faster and with less effort.

About Andrew: https://nomadcapitalist.com/about/

Our Website: http://www.nomadcapitalist.com

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Buy Andrew's Book: https://amzn.to/2QKQqR0

DISCLAIMER: The information in this podcast should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.

If you are a location independent entrepreneur and living a nomadic lifestyle, you should definitely consider going to countries in southeast Asia, Latin America, or southeast Europe, as they are tax-friendly and have lower living costs.

That way, you will save more of your money and be able to "pay yourself first", by not paying unnecessary taxes.

At the same time, you will enhance your quality of life and spend money on things you really WANT and not on something you are supposed to.

We talk a lot here at Nomad Capitalist about easy and fast ways to open an offshore bank account in order to gain diversification and security.

However, if you are lucky enough to be a high-net-worth individual (HNWI), easy and fast may not be one of your priorities - you want something high-class and special.

You could always go to one of the private banks in the world's current financial hubs, such as Singapore and Hong Kong and put all your millions there, but our advice is to diversify a bit.

A winning formula could be: choose a priority bank in Singapore, for example, which would be your "anchor" and then open a series of other priority bank accounts in different countries and banks.

This is especially a good idea if you are investing in real estate because in this way you gain access to some offers available only to people banking in the exact bank or country.

While planning tax reduction strategies, people are mostly focusing on the income tax and they are neglecting the important part of the US tax system - the payroll tax.

If you're not sure what it represents, this type of tax includes social security and medical care.

Digital nomads, freelancers, and other people living and working overseas may avoid paying income tax, but if their company is registered in the US, they still have to pay the payroll tax.

That's why opening an offshore company and employing people outside your home country may be the solution you're looking for.