Nomad Capitalist Audio Experience

No one knows the exact number of people that renounced their US citizenship, but the reality is that it's happening and that this number will more likely grow in the years to come.

There are various reasons for that.

The most common one is certainly high taxes and a number of laws concerning them, like FATCA.

However, apart from those financial reasons, many Americans just realized that they don't want to be part of the US system anymore - they don't share the same values, opinions and the way of life.

There is a big debate in the business world about whether it's better to have active or passive income.

But the question is: Is passive really passive?

Because even though you think that your income is passive since it's not your main job and career, that's not the case if you have to manage it somehow.

In the end, the choice is yours, but the formula we believe is successful is: "Focus on passive growth and active income."

If you are into crypto mining, you may be worried because of the recent and continuing crypto lows.

On the other hand, this will force you to discover new energy efficient places and countries, that are crypto-friendly, as well.

While some people talk about the US and Canada as good places to mine crypto, we would suggest some smaller and more independent countries, like Georgia and Iceland. 

We talked about it a lot here at Nomad Capitalist - people just love the idea of easy.

Sometimes easy is good, it's true, but sometimes it forces us to make unnecessary mistakes, it's not cost-effective, it doesn't have long-term benefits...

What is important is to know who you are, what you need and how you can achieve it - not just chase the idea of easy.

Respect your time and efforts more and you will see the fruits of it very soon.

Here at Nomad Capitalist, it's all about breaking down the barriers - real life, as well as psychological ones.

For some reason, people mostly find this nomadic and offshore lifestyle being a huge, impossible step to take and they are not brave enough to go outside their familiar framework and comfort zone.

That's why it's important to start thinking globally, explore the world, travel, get familiar with the "other side". You don't have to go all-in, "baby-step" your way to the final goal.

And remember: No one believes it's possible until it's done.

Risk tolerance and people's idea of safe are mostly completely wrong - they tend to stick to the old, rooted ideas about the world and don't take into consideration the constant changes.

People still believe that the most developed countries are also the safest when it comes to investing, banking and other financial matters.

The reality is that emerging countries, like Armenia, Georgia, countries in Southeast Asia and Europe are much more suitable for foreign investments, prices are stable, or constantly growing and there are fewer problems in general.

Are you one of those people who believe that investing in Australian real estate is reliable and profitable?

On the contrary - it just may be the worst investment move you can ever make. Returns and yields are surprisingly low and you will have to pay high taxes as well.

Therefore, if you want to invest your money in real estate, you better look for a place in some of the emerging markets, such as southeast Asia or Latin America, where your wealth will grow and forget about Australia.

Malaysia is a country with lots of opportunities and a great place for living if you are a digital nomad or a location independent worker.   In general, there are three possible ways to stay in Malaysia, depending on your needs and capabilities:   1. Regular tourist visa for a period of 90 days - 00:51 2. Work permit for living and working in Labuan, the federal territory of Malaysia - 1:43 3. MM2H (Malaysia My Second Home) Program - may be the most appealing and popular option, which allows you to stay in Malaysia for a period of 10 years, together with your family - 3:31

"Where do you pay your tax?" This could be one of the most important questions that a banker will ask you when opening an offshore bank account and all because of one regulation: the Common Reporting Standard (CRS).

CRS has been created in order to facilitate automatic information sharing about foreign financial accounts between more than a hundred member countries.

However, there are still some countries that are not applying CRS and they indeed are good choices for offshore banking, e.g. Georgia, Armenia, Serbia, Cambodia, Paraguay, and even the United States.

The world is constantly changing and some, maybe unexpected places are slowly taking the "throne" and becoming the "next big thing".

Here at Nomad Capitalist, we believe that Armenia and its capital Yerevan could be one of the best options to live, bank and invest your money.

It is a country with a long and important culture, strong work ethics and efficiency and even though there were stories lately that corruption in Armenia is on a really high level, that only motivated its citizens to be even better and develop their country more.