Nomad Capitalist Audio Experience

In Andrew's intro, he talks on taking a break from the nomad lifestyle and briefly touches on New Year's resolutions. Today's guest is Eric Highsmith, the director of Scottsdale Mint, a US based company that manufactures bullion. Eric discusses why you should diversify your investment strategy and how to safely transfer your gold to Singapore. 

Key Takeaways:

Andrew's Editorial:

[3:00] Take a vacation.

[7:00] Tired of paying too much tax? Live somewhere else.

[8:40] Andrew didn't want to send 40-50% of his income to the IRS.

[9:30] You can save money!

[11:30] Take action now.

Interview:

[15:10] Why did Eric get into the gold market?

[21:10] Is gold a dead asset?

[25:20] How is Eric diversifying?

[27:30] Does he plan on branching out into other metals?

[29:40] How can you get your personal gold into Singapore?

[35:25] Biggest challenge of having a business? Partnering with the right people.

[39:15] Who you trust is very important for diversifying your money and portfolio.

The Lighting Round:
[40:50] One country – Singapore.

[41:35] One business – A bar.

[42:35] One book – Anything by Warren Buffett.

[43:10] One tool – Cellphone.

Listener Question:

[46:10] Subscribe to us on iTunes.

[46:25] Where to celebrate a Nomad New Year's Eve?

[48:15] Dubai, Abu Dhabi and other places in the Middle East.

[49:25] Check out European countries like Spain and Scotland.

[50:40] New to being a nomad? Go to Asia.

Mentioned in This Episode:

http://nomadcapitalist.com/

Sylvie McCracken is a former Hollywood celebrity assistant turned full time entrepreneur currently living in Abu Dhabi with her husband and 3 kids. She writes about treating and preventing health conditions with real food and natural remedies. Sylvie talks with Andrew about running her business overseas and why she moved to Abu Dhabi.

Key Takeaways:

Andrew's Editorial:

[1:20] The last Passport to Freedom event will be hosted from January 14th-16th.

[7:20] We're here to live the life of our dreams.

[12:00] At the Passport to Freedom event, Andrew will be talking about three residency programs.

[16:25] The speakers will be people who are doing exactly what you want to be doing.

[18:00] Why do you really need an offshore company?

[19:30] Don't do it just because someone else told you to.

Interview:

[21:55] How did Sylvia get started?

[23:30] Does traveling with a family make you more focused in your business?

[26:20] Why did Sylvie and her family leave the US?

[30:55] Why move to Abu Dhabi?

[31:45] Sylvie talks about Middle Eastern culture and common myths.

[35:30] How has Sylvia planted her flags?

[37:40] Was it difficult for Sylvia to get residency for the entire family?

[39:40] Sylvie believes the black market exchange could happen in North America.

[41:00] Biggest challenges? Efficiency.

[42:50] Is Abu Dhabi a first world place to live?

The Lighting Round:

[45:45] One business – Staffing company.

[47:15] One country – US/Argentina

[47:55] One book - The Big Leap. 

[48:15] One tool - Trello

Listener Question:

[50:35] What's Andrew's favorite exotic food?

[53:15] You can get a second passport without living somewhere else full time.
[54:35] Nothing is holding you back.

[55:35] Don't copy the thought leader. Make decisions that are right for you.

Mentioned In This Episode:

http://nomadcapitalist.com/

[email protected]

The Big Leap by Hendricks Gay, PhD.

Andrew talks on how U.S real estate is often overpriced and doesn’t offer the best investment options money can buy. He believes that it's important to go where you're treated best and to not follow the herd. People looking to become a citizen of the world must network with like-minded people or else they'll be seen as crazy for not blowing their money on current trends. Today's guest is Angela Hood from ThisWay Global. Angela talks on what it's like as a U.S. citizen living and starting a business in London.

Key Takeaways:

Andrew's Editorial:

[2:00] What is the most important thing in a business? Sales.

[2:15] Andrew was watching Million Dollar Listing.

[4:05] Why are people paying so much money for real estate?

[7:45] People have short memories.

[10:00] Just because foreigners are buying U.S. Property, it doesn't mean they're right.

[12:40] Following the herd is a bad idea.

[13:20] Want to lower your taxes? Don't follow the herd.

[16:20] Nomad Capitalist can help you network with like-minded people.

[18:15] Email us your story and let's see if we can help you.

Interview:

[19:50] Andrew introduces Angela Hood. ThisWay Global

[20:45] Why did Angela decide to become an entrepreneur?

[22:40] Why did Angela leave the U.S.?

[24:50] It's harder to start businesses in the U.S.

[26:40] There's a lot of diversity in London.

[29:00] Americans miss out on a lot of opportunities by not traveling.

[29:30] What about the lack of privacy in the UK?

[30:30] Why did Angela choose to start a business in the UK?

[32:05] Angela recommends Czech Republic and Ireland for starting a business.

[33:30] Zero tax countries may not be the right place to go.

[33:50] How international is Angela's business?

[36:10] What is the greatest business success Angela has achieved?

[38:20] Pros and cons of getting funding?

[40:30] What is the tax situation like in the UK?

[44:35] Does Angela want British citizenship?

The Lighting Round:

[46:20] One country – U.S.

[46:40] One business – Food truck.

[47:35] One book - Tipping Point by Malcolm Gladwell

[48:25] One tool – Slack/Whatsapp.

Listener Question:

[51:25] How can you get a Thai passport?

[53:25] Asia is a bit inclusive.

[56:35] Getting residency in Thailand isn't cheap.

Mentioned In This Episode:

http://nomadcapitalist.com/http://nomadcapitalist.com/

Andrew does a quick comparison between Medellin, Colombia versus London, England. Andrew believes investing in Colombia is a great option right now. The people are incredibly optimistic about where the country is going and Colombian citizens are investing in their economy again. Today's guest is Mark Peters, who has relocated from New York to the UAE. Mark talks on some of the growing opportunities expats can find while living in Abu Dhabi.

Key Takeaways:

Andrew's Editorial:

[01:40] Andrew will be hosting a private event just for the Nomad audience.

[03:15] The Colombians are optimistic about their economy.

[05:50] Andrew felt safe in Colombia.

[08:15] Medellin vs. London?

[14:10] Andrew will be revealing his investment playbook at the Passport to Freedom event.

[14:35] London isn't optimistic.

Interview:

[19:55] How did Mark get started?

[24:25] Connect with other people to help take your investments to the next level.

[25:40] Why did Mark leave the US?

[28:10] It seems the Middle East and Africa are untouched by expat investments.

[29:30] Are people missing out by not considering places like Abu Dhabi?

[31:25] Should you look to the Middle East to set up a tech company?

[33:00] What's the weather like?

[34:05] Which flags is Mark currently planting?

[36:30] What's the banking like in the Middle East?

[38:40] What kind of challenges has Mark faced as a U.S. citizen?

[42:35] The UAE is already 80% expats and they are incredibly welcoming to foreigners.

The Lightning Round:

[45:55] One business – Disposing of furniture and renting apartments. 

[47:15] One country - UAE

[48:30] One book – The Obstacle Is The Way by Ryan Holiday.

[48:55] One tool – Cam Card.

Listener Question:

[51:35] Do you qualify for a Hungarian citizenship?

[54:00] It's hard to actually get the documents you need, because they're on paper and archived somewhere.

[56:10] Prepare to spend a lot of time and money on this.

[57:55] It's not a cheap process, but it's a good passport to get.

Mentioned in This Episode:

http://nomadcapitalist.com/

[email protected]

https://twitter.com/amarkmanpeters

The Obstacle Is The Way by Ryan Holiday

https://www.camcard.com/

While Andrew was visiting his lawyer in Panama, they had an interesting conversation on how there's a lot of investment coming not only from the US and Canada, but from Venezuela and other South American countries that are suffering economically. Due to less regulation in Panama, it is easy to do business and pay taxes without it restricting your business growth. If you spend 5% of your time trying to be in compliance with the law, what does your time really mean to you? Go where you're treated best.

Today's guest is Horst von Wendorff from Virtual Knowledge Workers. Horst runs a VA team in the Philippines and talks on some of the challenges he's faced while trying to do business there.

Key Takeaways:

Andrew's Editorial:

[2:10] Locate who you can trust. Bad lawyers are everywhere.

[5:25] Venezuelans, Colombians, and Argentinians are also investing in Panama.

[9:25] Interested in hiring a women?

[13:00] Countries with 'too many rules for your own good' are on the decline.

[15:45] If you need help, please email [email protected].

Interview:

[17:55] Andrew introduces Horst von Wendorff.

[18:30] Why did Horst become an entrepreneur?

[22:30] Was it scary to move to the Philippines?

[24:40] Did Horst ever have an ah-ha moment?

[27:40] What kind of flags has Horst planted?

[30:15] Horst talks Philippines tax.

[34:10] Banking was easy for Horst.

[35:05] Horst talks about the culture clash.

The Lighting Round:

[37:30] One business - time.

[38:20] One country – US.

[38:45] One book – Harvard Business Review.

[39:40] One tool – Smart phone, anything cloud-based, Office 360, cheap laptop, and TimeandDate.com.

Listener Question:

[43:40] Do you qualify for Russian citizenship through a family member?

[46:40] Andrew is unsure on the process.

[48:00] If you can get a Russian passport, take it.

Mentioned In This Episode:

http://nomadcapitalist.com/

[email protected]

http://vkwinc.com/

https://hbr.org/

http://www.timeanddate.com/

Andrew Henderson tells the story of Parable of the Talents and the key lessons you can learn from it. Andrew states that you should not be rewarded for playing it safe and burying your money in the backyard. It's important to develop an abundance mentality so you can take the necessary risks to grow your wealth.

Today's guest is Tony Simola from Simola Technologies. He currently is located in Finland and is a successful digital nomad. We learn about Tony's background and some of the challenges he's faced while trying to plant flags around the world.

Key Takeaways:

Andrew's Editorial:

[2:20] You can now buy tickets to the Passport to Freedom event.

[3:05] You got to be on the email list if you want special discounts.

[4:19] Andrew talks about his friend Matt and the story of the Parable of the Talents.

[10:35] The Nomad Capitalist talks about the idea of protecting the money you have.

[11:50] Burying money in the backyard is never the answer.

[12:55] Government can devalue your money.

[13:55] You have to take a little risk to grow your wealth.

[15:55] At the Passport to Freedom event, there will be speakers to help you invest your money wisely.

[18:10] Start to develop an abundance mindset towards your money.

Interview:

[20:45] Andrew introduces Tony Simola.

[21:40] Tony shares a little bit about his background.

[23:55] Why Finland?

[25:50] How does Tony's business allow him to travel?

[28:25] How can digital nomads publish books while overseas?

[31:00] What countries have treated Tony the best?

[35:35] Tony is looking for ease and access and is willing to pay a bit more in tax for that.

[35:55] What other challenges has Tony experienced?

[38:30] Can you do business in Russia?

The Lighting Round:

[41:25] One business – Restaurant.

[42:15] One country – US.

[43:00] One book – The House of Morgan by Ron Chernow.

[43:30] One tool – Timeboxing.

Listener Question:

[46:30] Is Belize a good tax haven?

[48:35] Colombians working in Panama will soon become double taxed.

[49:55] Paying a little bit of tax can get you along way.

[50:45] Andrew believes paying a bit of tax is better than paying no tax.

[52:00] What is the reputation of a country on a global scale?

[54:30] Feel free to contact Nomad Capitalist to find the best options for you in your situation.

[55:50] Sign up to the email list to get great discounts and updates.

Mentioned In This Episode:

http://nomadcapitalist.com/

http://www.simolatechnologies.com/

Andrew Henderson talks on whether or not you should invest in the Iraqi Dinar and how you can diversify your US dollars. Andrew believes that if something appears too good to be true, then it probably is. He emphasizes the importance of doing your homework and to invest in what you have a good understanding of.  Do not fall for get-rich-quick schemes, because those rarely come true. Today's guest is Nadine Hays Pisani. Nadine runs a bed and breakfast in Costa Rica and is the author of Happier Than A Billionaire. She talks on why she left her it all and moved to Costa Rica.

Key Takeaways:

Andrew's Editorial:

[1:30] Look out for the Passport to Freedom 2016 details in the newsletter.

[3:20] How can you diversify your US dollars?

[4:50] Should you buy Iraqi Dinar and Vietnamese Dong?

[10:40] Invest in what you know.

[13:45] Always do your homework.

[17:30] Easy schemes are what you have to be careful of.

[19:45] Take the emotion out of it and make a calculated decision on investment deals.

Interview:

[23:00] Why did Nadine become an entrepreneur?

[24:15] What was Nadine's ah-ha moment?

[26:55] The more you know, the more scared it can make you.

[30:20] Why Costa Rica?

[32:40] You can rent a house in Costa Rica for as low as $400.

[36:05] What other flags has Nadine planted around the world?

[39:45] You don't have to give up your US bank accounts and retirement funds to move aboard.

[44:00] Costa Ricans value their time.

The Lighting Round:

[46:05] One business – Reality show.

[46:40] One country – Italy.

[47:05] One book – No books.

[48:25] One tool – Skype

Listener Question:

[51:25] Can you open a Swiss bank account without a personal visit there?

[52:50] Most banks require you to be physically present.

[54:00] The door for Switzerland is closed unless you're rich.

[56:30] It is possible to open a bank without physically being there.

[57:10] Fast, easy, and cheap. Pick two out of the three.

[59:40] Check out the Nomad Capitalist book, The Best Offshore Banks.

Mentioned In This Episode:

http://nomadcapitalist.com/

http://www.happierthanabillionaire.com/

What does it mean to live in a low-cost country? Andrew cautions that low-cost economies do not necessarily mean it is your best option. Sometimes, you're better off by going where you can make the most money; where there's more opportunity. Traveling to a low-cost country also may not solve your core money problems. Andrew believes if you focus on the opportunities in a more expensive country and not the problems, you may be better off.

Ana Gusso is today's guest. Ana facilitates tours for Brazilians looking to travel to Australia and the Himalayan region. She talks on her experiences creating a business overseas and more.

Key Takeaways:

Andrew's Editorial:

[1:40] Andrew talks about the cost of living around the world.

[3:55] Why should listeners be careful of the 'low' cost of living?

[6:00] Andrew talks about the decline of the American standard of living.

[9:20] Moving overseas may not solve your underlining problems with money.

[13:25] Where can you make the most money?

[15:50] Consider spending a little bit more money to go off the beaten expat road.

[17:10] Focus on the opportunities.

Interview:

[19:55] Why did Ana start her business?

[24:55] What other locations did Ana look at before starting her business in Australia?

[27:25] What are the differences between selling to a development market versus selling to a tourist/poorer market?

[29:00] Differences in between Brazil tourists vs Australian tourists?

[32:45] Banking in Brazil was difficult compared to Australia.

[36:15] Ana talks about her dual-citizenship status.

[37:20] It's hard to become a Brazilian citizen.

[39:00] Ana talks about her travel experiences.

The Lighting Round:

[42:00] One business – A travel fair.

[42:35] One country – Not sure.

[43:00] One book – Rich dad, poor dad by Robert Kiyosaki

[43:50] One tool – Audible.

Listener Question:

[46:25] Does Andrew recommend banking in Panama?

[49:00] Panama banks are tied to FACTA.

[49:15] Andrew believes there are better banking options.

[50:40] Panama banks are a lot of hassle and they make things difficult.

Mentioned In This Episode:

http://nomadcapitalist.com/

http://nomadcapitalist.com/2015/10/05/the-decline-of-the-american-standard-of-living/

http://www.toptripviagens.com/

Rich dad, poor dad by Robert Kiyosaki

Should you move to Georgia and setup a business there? Andrew talks on his last trip to Georgia and how much he loves the government's efficiency in getting everything you need setup in one building. Andrew makes a valid point that entrepreneurs need to know what their time is worth. Is your time worth standing in lines and running around the country to get the needed paperwork or could you use that time to be making deals and making money? Georgia may be the place for entrepreneurs looking for a new start.

Key Takeaways:

Andrew's Editorial:

[2:35] Should you move to Georgia?

[5:20] Georgia's government is incredibly efficient.

[11:00] Georgia isn't no tax, but it certainty is low tax.

[14:00] Your time is valuable, which is why you should go where you're treated best.

[16:20] Entrepreneurs love banking in Georgia.

Interview:

[18:35] Andrew introduces Matt Newton.

[18:55] What does Matt think about Chile?

[21:00] Why did Matt become entrepreneur?

[24:10] Where has Matt traveled to?

[25:10] Is Chile pro-business?

[28:50] Will Matt be staying in Chile or become a perpetual traveler?

[30:30] What kind of flags has Matt planted?

[33:50] What kind of opportunities did Matt get in Chile that he couldn't get in Australia?

[35:15] Banking in the US was the hardest.

[37:10] Matt talks about the romantic side of things of being a perpetual traveler.

The Lighting Round:

[39:20] One business – Latin job boards.

[40:40] One country – Spain

[41:50] One book – The 7 Day Startup by Dan Norris.

[43:10] One tool – Minaal backpack.

Listener Question:

[45:35] What are the best citizenship by investment programs out there?

[49:45] You don't necessarily have to spend more money to get the best service.

[52:20] Visa free access to Europe may be a good option for you.

[52:55] Caribbean options can open you up to more borders without a visa.

[54:40] Nomad Capitalist can help you with this process. 

Mentioned In This Episode:

http://nomadcapitalist.com/

http://www.tourismtiger.com/

The 7 Day Startup by Dan Norris

There are several countries in the European Union who will welcome entrepreneurs with open arms. Andrew talks on why you should maybe start a business in Europe in order to get into their residency programs and pay lower taxes. Ladan Jiracek is today's guest. He is the host of the Travel Wisdom Podcast and has been to over 100 countries. Ladan is currently residing in India with his girlfriend and talks on his experience living and starting a business there.

Key Takeaways:

Andrew's Editorial:

[1:25] If you're part of the Nomad Capitalist email list, you can get 80% off on Passport to Freedom.

[4:10] Should you get an European passport?

[6:25] How much do you have to invest to get an EU passport?

[9:00] You can apply to EU residency programs by starting a business.

[13:00] In some parts of Europe, tax procedures are easier than in the US.

[17:30] Andrew recommends at least looking at Europe.

[21:55] Where should you go? Where should you be in the next five years?

Interview:

[23:10] Andrew introduces Ladan Jiracek.

[27:20] It's never too late to start planting flags.

[30:25] It was only until a couple of years ago that Ladan thought about selling things abroad.

[32:10] Why India?

[34:00] Ladan is living off $400 a month. What does that get him?

[36:25] What business does Ladan plan to start in India?

[38:00] You have to go where you're treated best.

[41:00] What kind of flags is Ladan planting?

[43:25] What challenges has Ladan faced in India?

[45:40] Ladan talks on moving to India with his girlfriend.

The Lighting Round:

[47:40] One business – Accent services.

[48:10] One country – India

[49:15] One book – Money Master the Game by Tony Robbins

[50:35] One tool – Calendly.

Listener Question:

[53:10] What would you do if Bernie Sanders would be elected?

[54:35] Andrew will not be voting. He doesn't believe the expat vote matters.

[56:35] Can the country Georgia be the next Singapore?

[58:35] US expat tax will never go down, because it's corrupt.

[61:25] You can't vote for a safe haven.

Mentioned In This Episode:

http://nomadcapitalist.com/

http://nomadcapitalist.com/2014/11/21/39-countries-reduced-taxes-business-corporate/

https://travelwisdompodcast.com/

Money Master the Game by Tony Robbins

https://calendly.com/