In this episode Ricardo Gorski discusses the popular idea of having "no tax residency", also known as being a tax nomad, fiscal nomad, or perpetual traveller. In Germany, the concept is often referred to as "Staatenlos" which basically means being a "stateless earner".

This concept is based on the belief that by not spending more than 183 days in any one country, you can avoid being classified as a tax resident anywhere. While it sounds appealing, especially to digital nomads and online entrepreneurs, Ricardo explains why this approach is a dangerous oversimplification.

He breaks down 3 major risks of not having a legal tax residency which can lead to the possibility of penalties, investigations, and unexpected back taxes.

If you're considering this lifestyle or currently living it, this episode is an essential warning.