Nomad Capitalist Audio Experience

On a rational level, we know that every country, its people and culture are different, but somewhere deep inside we want them to be the same as us, to act and work in the same way.

This is especially the case when we are doing business, investing or banking on the international level. That necessarily means that we will have to communicate and collaborate with all those people of different nationalities and backgrounds and come to agreements, sometimes about really serious matters.

That's why it's best to get acquainted with those countries, their customs and way of life, as well as the extent to which they're open to foreigners and other cultures, in order to have the best results.

The region of Southeast Asia is one of the most popular places on earth for nomads and perpetual travelers, because of its good combination of affordability and quality of life.

Here at Nomad Capitalist, we made a list of the five most livable cities in this Asian region, including Manila, Bangkok, Ho Chi Minh, Singapore, and Kuala Lumpur.

Each one has its own advantages and disadvantages, as well as different lifestyles, so watch our video and find out which of these cities could be the right fit for you.

Renouncing US citizenship is always a sensitive subject, followed by lots of myths and misconceptions.

There are certainly many advantages to it, but also some downsides, depending on individual cases.

The biggest and most obvious benefits of renouncing citizenship of the United States are tax-related. Also, you would have more freedom to go and do business offshore, but you would still be able to bank in the US, even if you're not their citizen anymore.

On the other hand, you will no longer have access to the US job market and you'll most probably need a visa to travel to the States, so think about your options carefully and be prepared for this change.

One of the easiest ways to get second residency which can eventually lead to actual citizenship is investing in real estate.

Depending on your needs, final goals and financial situation, you can choose from a variety of different countries that have easy second residency procedures.

Some of them, like Serbia, Montenegro or Turkey, don't have special requirements regarding properties. Also, there are countries like Georgia and Thailand with pretty straightforward programs.

Finally, some of the Latin American countries, such as Nicaragua, Panama or Colombia offer excellent real estate investment programs, that can easily lead to permanent residency or even citizenship.

What is Grant Cardone's missing piece?

Andrew analyzes the video of the legendary sales trainer and his strategy for storing money. From Nomad Capitalist point of view, saving 40 percent of your income is not enough, since you are paying another 40 percent in various taxes to the US government.

The point is, if you are willing to move from California to Miami in order to save money on tax, why wouldn't you go even further and take your wealth overseas while saving up to 80 percent?

The idea of living nowhere and being a nomad may sound appealing and exotic, but it became more difficult to achieve lately, as more and more people are starting to follow this lifestyle.

Consequently, various governments started closing some exit paths in order to make you pay your taxes to them and not somewhere else.

Simply saying: "I don't live anywhere" is going to raise a lot of questions and so the good idea would be to eventually set up a place which will be your "home" and a solid plan to help you achieve what you wish for.

Some people believe that only living in a country with high taxes can make us happy, because of the feeling of responsibility and contribution to society.

But the question is: How does that make you feel? Are you comfortable with that?

At Nomad Capitalist, we believe that we should all take care of ourselves and not rely upon the government to do that. That way, we also have more freedom - to move, travel, invest...

In the end, the human factor and happiness are always the most important thing. So, you just need to define your own formula.

Citizenships by investment or the so-called "passports for sale" are the quickest way to gain second citizenship.

You may be surprised, but the cheapest options to consider this year may as well be the best ones. Both of these countries are in the Caribbean - Saint Lucia and Dominica and both of them offer citizenships by investment in the amount of $100,000.

By holding a passport of either of these countries you will have access to EU, UK, Hong Kong, Singapore, and other places, while Dominica is increasingly paving its way to Russia and China as well.

There are some common misconceptions about offshore bank accounts, based on information given by politicians and media of certain countries.

The reality is that offshore banking is not about "hide and seek", but could be a way to more stability, more wealth, higher interest rates, as well as more investment opportunities.

Simply put, it allows you to diversify your options and take control of your own money.

Should you become a dual citizen? What are the benefits?

The way we see it at Nomad Capitalist is that it could be a great backup plan, even if you are not planning on moving or working somewhere else because it's always important to have numerous options to choose from.

Having dual citizenship is a great financial strategy for tax reduction and offshore investments, as well as for taking advantage of social services in, e.g. Europe or Canada.

Also, holding a second passport may give you more freedom to travel and an opportunity to live in some other place, occasionally or full-time.

So, start building your global citizenship portfolio and enjoy all the benefits of being a dual citizen.