If I Could Only Live in One Tax-Free Country…

Рет қаралды 281,701

Күн бұрын

nomadcapitalist.com/tax-reduc...
Which tax-free country is the best place to spend your life? In this video, Andrew discusses tax-free and zero tax countries and which country he would personally pick to live in if he had to choose only one.
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: nomadcapitalist.com/apply/
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: nomadcapitalist.com/about/
Our Website: www.nomadcapitalist.com
Subscribe: kzfaq.info_...
Buy Andrew's Book: amzn.to/2QKQqR0
DISCLAIMER: The information in this video 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.

Пікірлер: 1 100

@babulah8447 3 жыл бұрын

"I just want to enjoy my life" ... Great line.

@babulah8447 3 жыл бұрын

@@twnb7733 How old was Noah when he passed over?

@babulah8447 3 жыл бұрын

@@twnb7733 but less than 1000...

@babulah8447 3 жыл бұрын

@@LAHEX-yt6ux Dr Masuru Emoto has done fascinating research in sound...

@AlexTheReturn 3 жыл бұрын

Great view, great human. 🌞

@solarwind97 3 жыл бұрын

I wanted to like this comment but it's exactly at "100" likes so I just let it be.

@LGandM 3 жыл бұрын

Only visited Dubai for a quick 24 hour visit, and while I am comfortable in the Cayman Islands, I'd rather live in Mexico or Serbia etc and pay whatever taxes they want, than live in the UAE or on any tiny island. Good points about enjoying life, being surrounded by genuinely friendly/happy people makes all the difference.

@KJ-bc3de 3 жыл бұрын

Youre not enjoying the caymans? What are you finding you dont like? I heard it was one of the more liveable, and expensive Carribean Islands

@Sanyu-Tumusiime Жыл бұрын

indoor skiing mountain. bro i'd just live in dubai.

@seacentral Жыл бұрын

Hey are you still in the Cayman Islands? We’re considering moving there from the Bahamas because it’s much more modern and has little to no crime

@SenorJuan2023 Жыл бұрын

Dubai way too hot. Some things are worth paying money for (e. g. climate).

@aftaabmd8844 Жыл бұрын

I rarely write comments, but you genuinely are really good at what you do. Appreciate the free content here, lots of these are my ideal life.

@nomadcapitalist Жыл бұрын

Thank you.

@MatthewPFoley7 3 жыл бұрын

I love what you say about not wanting to be part of the 4 year cyclical voting cycle, team red vs team blue. Its sooo draining and I'm not about it at all.

@ronisedaluz2355 3 жыл бұрын

Liked and subscribed at “I just want to enjoy my life”. Same here. Same here!

@mishapravdov1732 3 жыл бұрын

Personally, I could never understand the attraction to UAE. Hot, desert, new tall buildings and shopping malls. Yes, there is a lot one can do there, but the whole thing seems artificial. Paying no taxes is nice though.

@mishapravdov1732 3 жыл бұрын

@@henrik4438 Who says US or Christianshavn, Copenhagen are atractive? Desert is fascinating for 2 days for me personally. Again, this is my opinion. I would say, if Tuscany or Provence had the same tax laws no one in the right mind would live in the UAE. It is ugly, in my opinion.

@SultanAbdulRehman 3 жыл бұрын

@@henrik4438 and healthcare is affordable with right kind of insurance! Ton of places with low rise and villas. There's something for everyone here in UAE!

@xxxBradTxxx 3 жыл бұрын

Sounds like Phoenix 😂

@francaismontenegro 3 жыл бұрын

Totally agree with you, Dubai sucks

@jaxxbrat2634 3 жыл бұрын

No taxes means they will only grow

@coronadolivin2030 3 жыл бұрын

Panama is really good. We pay no taxes on our property forever because it is registered as being under $125K. There are no taxes on any money made outside the country. Also we pay no Canadian capital gains taxes because we are non residents. We can buy stuff on Amazon tax and duty free if it's under $100. The only tax we pay is a 7% sales tax. One thing no one seems to mention is WHERE you live WITHIN a country is just as important as WHICH country you choose to live in.

@YonderPreneur 3 жыл бұрын

Hi, I’m also Canadian and the taxes on me are driving me crazy. I have loved in Mexico is Panama more modern then Mexico in your opinion?

@gbessone 3 жыл бұрын

Hey im considering doing my residency in Panama. Is there Amazon there?

@user-fo3vk6pg7m 3 жыл бұрын

Canadians as well, so tired of living paycheck to paycheck. Actively looking for options.

@javi___ 3 жыл бұрын

@@YonderPreneur Not at all Panama way under developed compared to Mexico

@cathylake9072 2 жыл бұрын

@@javi___ Matter of opinion he should visit both. I find Panama to be a little more sophisticated and stable in comparison to Mexico, because of the canal and banking.

@Kareem_Alcindor 3 жыл бұрын

Not sure that the UAE is a place where you want to plant a flag, if you are in Transit, sure, you can spend some time there, but to live there, you have to be willing to look the other way for a lot of things. First, the incredibly racist 2 way system, the fact that for employment, companies have 2 HR departments, one for Tier 1 Passports and the other for nationalities that are being taking advantage of (Indian, Nepalese, Bengali,etc) The whole country has been built on slave labor. Further, you could be an Arab speaker, lived in the UAE for 20 years, you will always remain a stranger, despite talks of the opposite, citizenship is never granted to people besides full Emiratis. These are few examples of how the system works over there.

@asimayyubi397 3 жыл бұрын

He made it clear that the video is not about all those things. The video is about "tax free" countries.

@DynAmisch69 2 ай бұрын

Did you know that literally every country is built on slave labor?

@kirstymcintyre5386 2 жыл бұрын

I’ve lived in the UAE for close to 10 years and the lifestyle is hard to beat. Dubai in particular has most of the benefits of any other city (it’s multicultural, you have access to most of the shops and brands you have in the US or UK, as an expat you can have a very active social life or choose to live quietly). There are downsides of course, once the novelty of tall shiny buildings wears off you miss nature and a certain ‘quirkiness’ that you can find in other countries. That being said if you can live here and spend 3 or 4 months overseas to avoid the harsh summer heat, you can soak up all the nature and culture you miss during that time and return back to a very safe and very comfortable lifestyle. Also, it’s a great travel hub where you can take a long weekend trip to parts of the word like Africa, Seychelles or Maldives for a reasonably low price and quick flight.

@37tara 2 жыл бұрын

True

@ranjithpowell6791 Жыл бұрын

I think Neom is going to be the place to live in 5 years

@d.fenestrator9529 9 ай бұрын

#endslaveryDubai

@BucketListTravellers 3 жыл бұрын

Definitely agree with your sentiment about being somewhere where the people are nice. It makes such a big difference! We've been living in Nicaragua for the last year and the people around us have made us feel so welcome. Also loved how you called out Bangladesh for having super friendly people - that's been our experience as well!

@mrbushlied7742 3 жыл бұрын

I have been living and working in Nassau Bahamas for the past 6 years. The lack of income taxes notwithstanding, the cost of living here is very high. Food costs 2 to 4 times as much as the USA, as do most other things. Petrol is $4/gallon.The infrastructure is very poor. The roads are like the surface of the moon and there's flooding every time there's heavy rain. The crime rate is also high. As for taxes, there's a 12% VAT on most items. If you have items shipped from abroad, the tax duties can be as much as 50%. As the availability of many items in the Bahamas is lacking, you will have to frequently order items from abroad. Before the Bahamas, I lived in Abu Dhabi for 5 years. The UAE has the best infrastructure in the world. In 5 years, I never encountered a pothole. Crime in the UAE is almost non-existent. Of course, you never have to worry about rain, but there are sand storms and heavy fogs in the winter. As for shopping, anybody who says that money can't buy happiness hasn't been to the Dubai Mall. The UAE can easily satisfy the most rabid shopaholic. Keep in mind that the temperatures in the UAE can reach 50C (120F) in the summer. This could easily kill an old or unhealthy person. As I still own property on Rheem Island worth more than 1M AED, I could easily obtain an Emirati visa. However, I don't think the UAE is a good place to retire. I've decided to live in Armenia in the summers and Vietnam in the winters.

@TheWanderingInvestor 3 жыл бұрын

Very unique combination. I completely understand though - great plan in two lovely countries. Well done.

@tompotlatch 3 жыл бұрын

Thanks for pointing out the very high indirect taxation in the Bahamas. I also note the ridiculous markups by importers on retail products there.

@SultanAbdulRehman 3 жыл бұрын

Georgia in summers is a good option too!

@xxxs8309 3 жыл бұрын

Armenia is nice in summer and cheap

@therevolution91 3 жыл бұрын

Did you guys notice the Winter problem? I tried to solve it with a place to live where the Winters are mild and the cost of living is low: Sandanski, Bulgaria. But of course I am also a rabid shopaholic. So: I think about Thiruvananthapuram, India. (because I need a car, too;-PPPeace Nic, The Swiss Xxx Digital Nomad

@larrylaudig5197 3 жыл бұрын

I high and thoroughly enjoy your delivery of the subject matter and your personality lends much credence to your videos.

@jolly7728 2 жыл бұрын

What a wonderful, easy-going style of talking about some pretty tough issues. Love NC's fluency in juggling so many seemingly dissimilar jurisdictions worldwide. He brings a certain "dynamism" (to use his word) to international financial affairs rarely seen in the mass media. Listening to him is like watching a movie as he compares countries, islands, and their socio-cultural strengths and weaknesses in a way that resonates with viewers/listeners.

@searlearnold2867 3 жыл бұрын

Vanuatu works for me. 80 islands, sailing, scuba diving, snorkeling, surfing and kite-boarding. The financial services sector is no Switzerland or Singapore, but the tax regime is looking pretty good compared to Canada. Wonderful people, living simple lives. Plus, like a bunch of Pacific island nations, they shut their borders for Co-Vid, but life continued on the ground without ridiculous lockdowns and confinement. Surf's up !

@christianpeacecraft552 3 жыл бұрын

Where is this?

@jasminerose3138 2 жыл бұрын

I am in Vanuatu as well. So true. But very expensive here as well.

@sgill4833 2 жыл бұрын

Yes this covid thing is making look for good places to get away. I'm basically cut off from society anyways. Never leave my house anymore.

@4nt4r4y 2 жыл бұрын

@@christianpeacecraft552 pacific ocean

@laurymelo5741 2 жыл бұрын

I dont think he said you have to be stuck in Vanuatu to get the tax benefit, he said you dont need to. But the hypotethical question was if for whatever reason you had to be where would he go

@user-jy7yw5kw3w 3 жыл бұрын

Easily Monaco, it's small, quaint, well kept and walkable. The weather not too hot, not too cold.

@championsleague5692 2 жыл бұрын

@Mehedi Hasan Nice, France is close

@AJohnson0325 2 жыл бұрын

If I were wealthy enough to buy a place there, then that would be my choice. Real estate prices are insane.

@danamurray735 2 жыл бұрын

There's so much to do in Monaco... The Grand Prix The Yacht Show The Best Restaurants The Luxury Brands for Shopping The Weather Of course it's expensive! You're surrounded by billionaires. So all real estate is Prime Real Estate. Even a tiny studio apartment will cost you a whole lot of money. What else do you expect? You've Got To Pay To Play, Baby

@anthonykeller5120 3 жыл бұрын

My retirement income is tied to the US, so I pay a ton of taxes there. Having said that I’ve retired to the Philippines as a widower. All my money is tied to US banks, and any consulting income (I still do a spot of work now and then) also goes into US banks. I pay zero Philippines income taxes on any of my US income. I moved to the Philippines, because I like the cost of living, the fact everyone speaks English, most people are Catholic (Christian values), everyone I have met is friendly, and so far my girl friend has treated me better than US women I’ve met. The only part about this “retirement” is the amount of paperwork involved in just the day to day US grind. My late wife used to do it while I was globe trotting around the world, but now I feel like I’ve inherited an unwanted job. The Philippines may be a cash society, but I get by with a minimal amount of paperwork...enough ranting. I need to be fishing.

@792x33 3 жыл бұрын

Wow, that's great! Thanks for sharing your experience. Can you recommend some good areas in the Philippines?

@londonlife1015 3 жыл бұрын

That’s a brilliant country for retirement

@stevenvanderheide6472 3 жыл бұрын

@@792x33 Palawan, Cebu, siargoa, siquior. Angelas.

@kobrakai187 3 жыл бұрын

But covid lockdowns are very strict, no?

@CGV.69 3 жыл бұрын

Sounds like the dream

@Flandria55 3 жыл бұрын

Very surprised that Panama was not mentioned. I worked and lived for almost 3 years in the Gulf States, now living in Panama. Dollarized currency, climate in the highlands,proximity to US, availability of food choices (New Zealand butter, Australian wine, French Cheese, etc) Amazon deliveries very easy...

@Kohako2024 3 жыл бұрын

Tnx Berbo,,i live in Panama for 17 years ,,,and very happy,,im Dutch (Captain) and work all over the world,,middle East for more than 10 years,,,and now heavily into crypto trading ,,,for my pension

@chazsroczynski5666 3 жыл бұрын

Haha. How do you get Amazon to work well for you? I have such a hard time getting anything sent. The whole no zip code thing really seems to mess everyone up.

@MCWhiffles 3 жыл бұрын

Panama has tax

@chazsroczynski5666 3 жыл бұрын

@@MCWhiffles only on money generated from within Panama. Which for most expats living here is $0.

@MCWhiffles 3 жыл бұрын

@@chazsroczynski5666 That still does not make Panama by definition a tax-free country which is why he did not include it in his list.

@chuck6646 3 жыл бұрын

Great content. I completely agree with the intangibles like "are the people around me genuinely kind.". Another one for you: "do the locals only see me as a walking dollar sign?"

@iamchicosuave 3 жыл бұрын

Well, Mr. Henderson. I got tired of asking "what if." I just set an appointment to get my passport. I'm not your 7/8 figure client, but I'm not just going to sit around and wait. Keep up the work.

@aquilomanganelli175 3 жыл бұрын

Same here. Just a hard working chump socking away every penny in hopes to slowly build a life of freedom.

@cryptocomix 3 жыл бұрын

How much does it cost if you’re not making 7/8 figures?

@pattimurphy5151 3 жыл бұрын

@@aquilomanganelli175 Nope, we are on a prison planet. Jesus is coming soon.

@downhomegirl5 3 жыл бұрын

You are truly a gem.. thank you for your insight, Happy Valentine's to you & yours Sweetie

@freeradical1567 3 жыл бұрын

Again. Honest, informative and excellent!! I look forward to your experienced thoughts every day!!

@larryn500 3 жыл бұрын

I live in Abu Dhabi and personally feel both Dubai and Abu Dhabi are amazing cities to live in. English is an official language, about 88% of the population are expats from all over the world, and the people are very friendly. Abu Dhabi is identified in numerous studies as the safest city in the world, with Dubai not far behind. With the global diversity in cultures, you have the opportunity to get to know people from all over, including countries sometimes considered verboten, such as Iran, Iraq, Pakistan, Syria, Beirut, etc. In doing so, you discover that people the world over have common core values. At their heart, all people want is just to live their lives in peace, and to make a better life for themselves and their families. Somehow, in the UAE, it just works.

@jeffb.140 3 жыл бұрын

It sounds all well and good but how do you handle the heat though?

@kunjomani 3 жыл бұрын

Would you choose Istanbul or Dubai?

@SultanAbdulRehman 3 жыл бұрын

And Abu Dhabi is more laid back compared to Dubai. Both are amazing places to live indeed!

@echo5394 3 жыл бұрын

I hear such mixed opinions about the niceness of people in Dubai

@2ndhandanxiety719 3 жыл бұрын

Isn’t drinking alcohol banned there unless you’re in a hotel or something?

@westonbadke5434 2 жыл бұрын

I’m into Belize! English language, Belize Peso. One time property tax, No Inheritance tax, no capital gains tax. It’s easily accessible to Florida. It’s a developing economy. But also $130k Canadian gets you a decent home in Dubai.

@jerrynkumu 2 жыл бұрын

I moved to the UAE 3 years ago. I your arguments are literally word for word mine when explaining my reasons to others. Major Kudos

@waliddib5291 2 жыл бұрын

The UAE just introduced taxes on corporate profit on 9%. no longer 0%.

@lindanorris3226 3 жыл бұрын

HEY GUYS THANK YOU SO MUCH FOR SHARING US 💙💫🌎

@andrewhewerdine 3 жыл бұрын

UAE, Dubai, especially with the world islands being built up over the next decade. I should add I left San Diego CA in December and now live in UAE. It has elements of the convenience of the US, has cafe culture like Europe, some great South African restaurants, bars and cafes. Asian influences in some of the hotels and resorts. Geographically positioned very well. I'm actually doing as you say and bringing my parents out here and my sister already lives here. Dubai is definitely the most liveable city in the gulf, plus you can go scuba in Fujairah, mountains in Rak, ski in the mall and great beaches.

@andrewhewerdine 3 жыл бұрын

@@rubiks15 90% expats, tons of Brits & Aussies. Haven't even considered language as a barrier since we got here. My sister says after 6 years of being here she's never had a language issue.

@harismuzaffar1151 3 жыл бұрын

Oh yeah. You get all there. Close to other countries too. Am thinking of moving there myself. Been flying there every 2/3 months before Covid. Am so addicted to that place. Hahah

@luv2travel2000 3 жыл бұрын

@@andrewhewerdine Thank you for sharing this. ♥️

@coolguy5555551 3 жыл бұрын

The world islands, is that a joke? They’ve been trying to build that since 2008, and have no plans to actually make it a reality. It’s a failure of a capital project, and people should be looking elsewhere.

@jondeanpt 3 жыл бұрын

San Diego ...love that place. UAE has some cool cities and for safety, cleanliness and Peaceful living it’s great. Just got to watch out for the Dubai douches - lol

@brillianttec3504 Жыл бұрын

Thank you so much for your work. You give us hope.

@rahimbacar1736 3 жыл бұрын

Hi Andrew - good day and happy Sunday. I've been following you for quite some time, and it is always a pleasure to hear you, thank you. Hopefully we will meet somewhere, someplace, since I lead a similar life to yours.

@OneEyedLion 2 жыл бұрын

I'm moving to the UAE in a few weeks. I discovered the UAE back in 2003. I know this sounds strange but I felt a greater sense of freedom in the UAE than the US.

@htchamber2776 Жыл бұрын

Yup funny how people are just starting to understand this now

@unknownninja4430 Жыл бұрын

freedom.. maybe for white people that already have an economic advantage over everyone and they like to cut corners and not work hard like hispanics, asians, etc

@AA-il9pc Жыл бұрын

Isn’t it illegal to swear or kiss in public in the UAE? Not exactly the epitome of freedom

@sawkrandom23 10 ай бұрын

How is it?

@ashsqx3246 3 жыл бұрын

Yes I would like to live between Dubai and Monaco. Vacation in France, Italy and Spain sometimes...

@hugochouinard627 2 жыл бұрын

Very interesting! Meeting nice and reliable people is so important! Thanks!

@josephgreen2008 2 жыл бұрын

Totally agree with your sentiments in this video about living on an Island.UAE is probably the best choice.Although I think a 10% tax is doable to expand your choices.Maybe you could do a set of vídeos with countries in the 10% tax Range .Have a good weekend good weekend

@jittmet7766 3 жыл бұрын

Very nicely explained Andrew. :)

@michaelhall7028 3 жыл бұрын

What about Oman? It's tax free and also quite a liberal country in the region. You mentioned that you prefer the UAE to Bahrain and Qatar because they are too small, but what about Oman. Oman is the 2nd largest Arabian Gulf state after Saudi Arabia. The capital Muscat has come on leaps and bounds over the last 10 to 20 years. It's got less of the international flavour as a City like Dubai for example, but it is still a very comfortable modern city to live in. There are also many more places to visit and see in Oman. While the UAE seems to be the go to place for most people, I personally think that Oman is a little bit overlooked.

@esamipad8060 2 жыл бұрын

Wow, you're well educated person, I learn a lot from you. You know how to break the ideas down. Thank you.

@Noonelson 3 жыл бұрын

Great video and perspective.

@panaceiasuberes6464 3 жыл бұрын

Monaco is really a great place to have as a Autumn/Winter base for someone like me that actually likes having cold for Winter months. And 90% of the people that make Monaco obnoxious move out in October only to return in May. Restaurants get more civil, the roads are less congestionated so you can actually go fast into the hills, every single patisserie has room and is quiet and the French cities around Monaco are all deserted. Its my kind of place. Although this year I had to spend most of my winter months in the UAE, KSA and Kuwait because of friends inviting me over in I really love Monaco. EDIT: With airplane being the travel method of choice from Monaco you can get to Switzerland in half an hour, to Paris in one hour and to London in an hour-and-a-half. That's very hard to beat and the biggest problem for me when thinking of the UAE. When you finish all the partying and Cars & Coffee events in Dubai if you take the plane anywhere it takes a long time. I can go to London, get my measurements taken for some suits, have lunch at The Berkeley, go for some new bespoke shoes and shirts, have tea with some friends and be back in Monaco for dinner. That's very hard to beat.

@jackapril83 3 жыл бұрын

Who are you? And why do you watch KZfaq?

@sgill4833 2 жыл бұрын

5 hrs is far? To me 10 hrs on a plane is far. 3-5 hrs is manageable. 1 hr is super convenient.

@awabinaraf8203 2 жыл бұрын

can I discuss the monoaco ta resicendcy situation with you further? I'd like to know how I could pursue this from someone who seems like they've done it

@37tara 2 жыл бұрын

👍👍👍

@awabinaraf8203 2 жыл бұрын

@@37tara u have expreience with monaco?

@gabrielanak6000 3 жыл бұрын

Well done Andrew. So clear & strong common sense. Love his videos

@nomadcapitalist 3 жыл бұрын

Thank you, Gabriel.

@ralfi1134 3 жыл бұрын

To me Antigua is the best choice, I love the great outdoor, some skynny deeping in desert beaches some backyard archery, sailing wow, sound like a dream to me.

@danamurray735 3 жыл бұрын

Monaco...and an extremely nice little boat. The Cayman Islands (like a good amount of Caribbean islands) are prone to Hurricanes. The Gulf States are great, for the most part. It's extremely modern. It's becoming a little bit more cosmopolitan each year with an international appeal. However, there's still a huge culture shock in store for most non-Muslims and most definitely for non-Arabs. I don't know if Singapore is still a tax haven. So, I can't say... Vanuatu??? ... Hhmmm 🤔 Maybe. Maybe Not. I don't know.

@abdelmoutalebramoul7264 3 жыл бұрын

Off topic Andrew, i want to see your watch collection and where’s the best place for nomads to make those kind of valuable purchases!

@michaelheery6303 3 жыл бұрын

Nigeria

@antonioaranio3568 3 жыл бұрын

China.

@nkoonkukoo 3 жыл бұрын

What watch is he wearing in the video

@SoWowArtz 3 жыл бұрын

Chrono24 is the best imo

@michaelheery6303 3 жыл бұрын

@@nkoonkukoo China or hk.

@GingerNinja68 3 жыл бұрын

Love the channel and the content. Not so sure about the UAE. Love the Middle East however think they are about to hit the buffers again. Dubai, isn’t a financial centre like London, Singapore or New York, and course there is alway the human rights issues and general business ethics.

@Player85376 3 жыл бұрын

I like watching your videos but this is probably the most sincere one. Thanks man... as I see you are mostly in Belgrade. Are you living there?

@Big_delta 3 жыл бұрын

I just bought and read your book. I love the philosophy and it makes sense.

@robstone4537 3 жыл бұрын

I agree with your stance on not worrying about politics. I spent 5 years living in Abu Dhabi and actually found it strangely relaxing not caring about local politics. I had no ability to affect local politics, if things got too bad I would just leave. I never read local news or watched local TV. It is quite liberating not to care about anything. However I found the concrete jungle, weather and dry climate very depressing in the long run, it was not just for me. I am more a tropical beach person, I am happy in boardshorts and sandals so I would prefer the Caribbean island life where you are still close enough to travel to big cities if the need arises.

@travelwithtony5767 2 жыл бұрын

I lived and worked in the UAE and agree with everything you said, but you can’t consider living there without mentioning the brutally hot summer months that make it practically impossible to spend any amount of time doing outdoor activities.

@CREAMYRICAN 3 жыл бұрын

I feel good about 2 choices you mentioned.

@nickgeorgiou7770 3 жыл бұрын

After living in NYC for many years and now living part time in Texas I can attest that nice makes a difference. I never thought of UAE as a possibility to move to. I have to put it on my list of destinations

@kumara8196 3 жыл бұрын

As a resident ofDubai, Uae for past 21 yrs....indian passport holder...agree 100%

@mklaw200 3 жыл бұрын

Can you do an update on Hong Kong in light of recent political developments as a low tax destination? Used to be a great low tax jurisdiction about 4-5 years ago but now seems like it's going to lose its status as a financial center.

@kellyengland 2 жыл бұрын

HK is still an incredible city and is low key thriving

@michaelwebsternz 3 жыл бұрын

UAE for sure, with maybe a tropical island as a holiday destination etc. UAE is so central with a great time zone and very easy access to world markets.

@oreospeedwaggindoesamerica6078 3 жыл бұрын

Great stuff I’ve spent a lot of time in Dubai and never thought of living there. Yet it has everything and a great spot to travel all over from.

@RicardoPerez-iu7dk 3 жыл бұрын

Great video and 100% correct in my opinion. I live in Dubai since 2009 and indeed is a great place. Easy, friendly people, great lifestyle, eight months of great weather, safe for the kids and ability to save a lot of money (you can spend a lot too though). No intentions to go back to Spain anytime soon.

@skyone6531 3 жыл бұрын

how can you compare Spain rich history, culture, arts, architects, European life style and intelligence and freedom of expression as human and faith. with only saving money is not the real happiness and you or your kids never will be that country citizen....that's a slap on the face and disgrace to humanity....think about it

@evastavrou4928 2 жыл бұрын

@@skyone6531 wow - people who have lot of cash - can easy say -“ money is nothing “ try to live without money “ if you ever try , you will never say it again -money is nothing ….

@safiahnd488 Жыл бұрын

Am happy for you.. But spain dude spaaaaaain HAS SUCH BEAUTIFUL WEATHER comparing to the heat of UAE.. The richeness of Spain is also amzing

@thefilipinojoe 3 жыл бұрын

I like what you said about Americans enjoying getting all political. 😂 I am living in the Philippines and it has been a serious adjustment for me going from being all political to not so much. I came to realize that the only real change I can make is in the voting booth.. to vote. Everything else is pretty much a waste of time and energy. Better to spend my time enjoying my life. 💕

@adrianwhittenburg718 2 жыл бұрын

One of your best videos for sure. Mostly because Im also at the point of “I just wanna enjoy my life” I would move to Cayman since im only 6 hours flight away from family (San Diego) and all the Caribbean as well as Mexico (decent) isn’t far for me at all.

@frederickbouari2625 2 жыл бұрын

Great video and insight

@christianorsa 3 жыл бұрын

Probably UAE, Monaco or somewhere in the Caribbean. Quite a hard decision to make🤣

@michaelferguson4549 3 жыл бұрын

I like hot weather but UAE in the summer would be just too much. I would do the Bahamas. Grand Bahamas is different than Nassau which is different from Marsh Harbour which is different from the Exumas. Also, I expect that it will develop quickly over the next two decades.

@michaelferguson4549 3 жыл бұрын

It is, indeed, not easy to get citizenship. But fortunately you can get residency with a home purchase. Right now our winter residency is between Bahamas, Turks & Caicos. Vietnam, Malaysia, philippines and maybe Dubai. They are all either tax free or only tax those who are resident for more than 180 days per year.

@jeffb.140 3 жыл бұрын

@@michaelferguson4549 You don't happen to have a daughter looking for a husband?

@KJ-bc3de 3 жыл бұрын

@@michaelferguson4549 Where are you a resident for tax purposes though?

@michaelferguson4549 3 жыл бұрын

@@KJ-bc3de Right now I am still a U.S. tax resident. With the foreign earned tax credit we have about 220K USD that is free from tax. We are not there yet. But that is the intent, so, we are pointed at CBI and renunciation. At that time I will rely on Andrew's counsel on such matters.

@BlueSkies360 3 жыл бұрын

@@michaelferguson4549 you are well set, congratulations you have made it

@Hannah.115 Жыл бұрын

Amaaaaaazing.. I love how genuine you are 😀

@nomadcapitalist Жыл бұрын

Thank you.

@MarkRose1337 3 жыл бұрын

I would feel cramped if I had to live in a country less than 250,000 square km. But at least the UAE is modern with consumer conveniences, and has a desert where one can find solitude when needed. It would be my top pick as well.

@valentinaglinsky4001 3 жыл бұрын

Andrew, thank you for the video. Actually, I like all of your videos. Your talks are informative, elegant, sophisticated and just ... sharing.

@mojo3772 2 жыл бұрын

Thanks Andrew. Great video. I agree with you to some extent. I have lived in the UAE for 6 years and I mostly enjoyed it. It is just about the safest place on earth. Notably, governmental policies are great. I was awarded a 10 year golden visa based on my profession at a cost of $1k, so I feel really valued. All in all, great place to live in UAE, very cosmopolitian, extremely safe, the locals are very friendly. However, UAE is rather expensive. I would say it is even more expensive than the UK, where I come from. Also in summer months the heat and humidity are brutal, mostly from June to Sept; so vitually no outdoor activities unless they involve water. Real estate is not cheap either, I bought a modest one bedroom apt in a nice area of town at a cost of $170K. Plus lots of expenses, associayted with ownership. I think UAE is good as a base, but to spend significant time (esp summer months) in other countries: Turkey, Morocco, Lebanon, as well as the far east: Thailand, Malaysia etc. all of these are easily accessable from UAE.

@ajcapitano2425 3 жыл бұрын

Hi Andrew , can you make a video on belgrade real estate and banking system for foreigners on opening bank account and applicability if they allow to transfer , receive money in account through online banking

@MrCubansurfer 3 жыл бұрын

1) Monaco 2) Brunai 3) Bahamas 4) Bermuda 5) Cayman Islands 6) UAE 7) Bahrain

@larryh502 2 жыл бұрын

Years ago, I would have said that someone who wanted to renounce US citizenship/live outside CONUS full time was a nut. Nowadays with the current political and socio-economic climate here in the US, I can understand why people- especially those of means, would do it. Leaving the US/ renouncing my US citizenship is not a realistic option for me, but if it is for you, rock on. If everyone lived with the attitude of "you do you, I'll do me" and not try to control others' lives, the world would be a much better place.

@blueballbag3588 3 жыл бұрын

Why wasn’t Panama on this list? More fun than the middle east, no cultural hang ups with relationships or alcohol, cheaper, mountains and beaches to explore, not too remote...

@JoeyJ1984 3 жыл бұрын

Sounds nice. What's the covid reaction been like? Lockdowns, mandates, etc?

@blueballbag3588 3 жыл бұрын

@@JoeyJ1984 terrible. Ok they did well keeping the numbers under control but there’s gender restrictions on shopping, men and women can go shopping on alternative days, stuff like that. Pretty rotten to segregate the sexes like that

@nomadcapitalist 3 жыл бұрын

Panama is not a tax-free country.

@JoeyJ1984 3 жыл бұрын

@@blueballbag3588 What the hell? That's insane! Kind of explains your username though :P

@saladinallah5299 3 жыл бұрын

Panama is my choice....Almost hands down.

@angelofamillionyears4599 2 жыл бұрын

Good points Andrew.

@tomgil9 3 жыл бұрын

Fantastic video Andrew

@TheCreditShifu 2 жыл бұрын

With Monaco you should be able to just seamlessly drive into France. Maybe now is different because of COVID, but in normal times it should be seamless

@julius5632 2 жыл бұрын

Even with covid, Monaco is completly open to France right now.

@goldstein10493 2 жыл бұрын

how long is the drive?

@TheCreditShifu 2 жыл бұрын

@@goldstein10493 it borders France so if you are in France just outside Monaco, 1 second. But if you want the closest city in France, that is Nice, 26 mins away

@louielouie684 Жыл бұрын

in Monaco you have to put a sizeable deposit in their bank and rent from the Prince.

@TheCreditShifu Жыл бұрын

@@louielouie684 all of this tax avoidance stuff is only worth it if you have sizable amounts of money anyway

@renatastec5212 3 жыл бұрын

There's no perfect country. My husband and I (UK) have lived in 8 countries and travelled to several others. We've been in the Middle East for a number of years and decided to retire in Bahrain, Amwaj Island, from where we can hop to Dubai for entertainment whenever we wish. Sure, there are a few things we have to overlook here, but overall this has been a good option for us.

@good4u702 Жыл бұрын

Could I live in Bahrain on a UK state pension?

@1danacom 3 жыл бұрын

Thanks Andrew good video

@genstian 3 жыл бұрын

I suppose this depends a lot on what you do, some are way easier for certain lifestyles, and certain types of income. And the universe of countries do change, tax freeness is seemingly ending in many Gulf states (especially saudi-arabia), and heck, depending on your income you can find a much wider universe of places, if you are a foreign asset hedge fund manager countries like Georgia is tax free.

@maxflight777 3 жыл бұрын

You are the only person I’ve ever heard who enthuses over DXB in this way ! The only person.

@kingraghavsahni 3 жыл бұрын

I like that airport too

@maxflight777 3 жыл бұрын

@@kingraghavsahni the airport is OK ... but as a country to live in ? No thx UAE 🇦🇪 !

@jonsmith82 3 жыл бұрын

I lived in the UAE, i travelled to few European countries then i moved to Sweden for the citizenship, comparing living in the UAE over Europe is legitimate, what i saw in Europe was way under my expectations and i would confidently tell you: if you are planning and have the possibility to obtain a European citizenship then it's fine to move, otherwise it's a huge mistake to come to Europe leaving the UAE if you are just planning to stay on temporary residency based on a job or a bussiness. The life style that you find in UAE is really not compared to any other place in the world, of course it's expensive but it worth it, not forgetting the numerous opportunities that opens to you in a multinational country like UAE.

@jamesdonalfaulkner 2 жыл бұрын

I really like your attitude, Andrew.

@filmawayvlad 3 жыл бұрын

Insightful, indeed

@eliotgoodfellow7294 3 жыл бұрын

I live in Monaco and agree with your point that, removing the ability to go into France or Italy, makes it a very small place! The advantage of Monaco is not having border controls as per Gibraltar.

@vigilantexx 3 жыл бұрын

When it comes to retirement, I am surprised so little is discussed about health care: many of the tax free or reduced tax countries can become very expensive if they don’t have a reliable and affordable national health system available to you. Same could be said about nomads with family and schools/education. Single and young people on the other hand have little reason to live in high tax countries with generous social benefits like it is the case for most of Europe

@danspencer9499 Жыл бұрын

David, the healthcare system in Colombia is excellent and the people are warm and welcoming. Pablo Escobar died in 1993 and Colombia has transformed. If healthcare is a concern, living in a city like Bogota' or Medellin gives you access to world class health care and almost anything else you might want or need.

@Andrey-ox5zm 3 жыл бұрын

Gday, mate. What about living in Andorra, Gibraltar , Switzerland, Monaco or San Marino of Italy? Yes it lacks UAE/ metropolis bustles, but its really nice out there...)) I bet,- you ve been there, done that. Personally i prefer living near the big city, but in quiet area with good infrastructure, say in Johor Malaysia, say 1hr drive from Singapore. or near Budapest or near Adriatic coast. Its 1-2 hrs from everywhere, not like 24hrs flight or 15K km in Sydney AUS...)))

@richardsteinbergmakingknives 3 жыл бұрын

Dynamism, that is a new one for me. I'm making that the word for the day! Dynamism...

@NetMaestro2009 3 жыл бұрын

Guys and gals, it boils down to what you are looking for (surprise!). There is no "one size fits all". Start from all the tax-free countries and decide based on your what is important *for you*. Personally, I have lived and worked in Dubai for a number of years and it suited me just fine. 4 months a year, the weather is cool, another 4/5 months its bearable but in thick of Summer - 2/3 months, better go somewhere else. Still, I'd go back in a heart-beat, but that is just me. YMMV.

@realBobToms 3 жыл бұрын

Prices and taxes had gone up pre-COVID in Dubai and AD. AD is the largest land owner and has all of the oil and gas. Dub. is still reliant on tourism, in spite of diversification. Dub. introduced higher charges on hotel rooms several years ago. The UAE as a whole introduced VAT (lower than Europe) several years ago. Rental contracts go up and down as the UAE gov't and Emirates govt's remove a rental cap. Accommodation quality is variable as developers have used cheap materials over the last decade (several fires in Dubai documented). Yes, if you have plenty of money, it's no big deal if you do your research. The UAE is not the frontier economy as 20 years ago where expats could earn staggering amounts as a salary, but nor is it tax free. Taxes are there but indirect. Yes, life can be stress free or as crazy as you want in UAE, or connect with the natives with camels and a picnic in the desert. It's up to you. Your white skin and money will gain you some respect and some freedoms. FYI, I lived in AD and Oman for 6.5 years (mostly AD and Al Ain) and visited Dub. from time-to-time until 2.5 years ago. Life got more expensive and salaries did not keep track with the locals.

@guillemsolersuetta5924 3 жыл бұрын

Which country/countries would you pick instead?

@nathanquirk9498 3 жыл бұрын

Andorra. Can be structured so tax liability is close to or 0%. Low cost of living, super clean, zero crime, hiking in the summer, skiing in winter (residents get a yearly lift pass for 160€). 2.5hrs from Barcelona Airport and the Med. Drive 20mins one way you’re having crepes and croissants for breakfast, drive the other way you’re having pan chocolate. Residency process is straightforward and done on arrival in Andorra.

@rosie245 Жыл бұрын

Love this channel.

@nomadcapitalist Жыл бұрын

We appreciate that!

@johndroycroft 2 жыл бұрын

We have been very happy bringing up our 2 boys in Bahrain for the last 20 years. I have been able to support the family on one teacher's salary and we have a very good standard of living. Daily interactions with those around us are always friendly and pleasant. We love your channel by the way!

@good4u702 Жыл бұрын

Could someone on a UK state pension afford to live there?

@bigdogpete43 3 жыл бұрын

I just can't do the Middle East. I value my head. Low tax may be better than no tax in a lot of instances.

@MCWhiffles 3 жыл бұрын

That means you're probably doing drugs

@asimayyubi397 3 жыл бұрын

You are right. Almost 50 percent of people in middle east walk around with no heads, because they have been chopped off for one reason or another.

@morgan97475 2 жыл бұрын

You've not been to UAE or Bahrain. Even KSA isn't too bad.....except for the truly crappy driving.

@robertbandusky9565 Жыл бұрын

Still enjoy Colombia 🇨🇴 returning this month. Has been cold in BOGOTA Then off to Duitama and Pito Lito

@pinnacleroofing9841 2 жыл бұрын

I spent several months in Bahrain in the late '80s, I think I saw both trees the country had while I was there.

@indigdoc 3 жыл бұрын

Bahrain. I lived there in 1990 & 1991. Was not nearly as modern, trendy, and convenient as it is today, but extremely hospitable. I love Bahrain and after you've spent some time there - you will too. HRH Shaikh Isa bin Sulman was in power back then (May he rest in Peace). A very civilized, gracious, and prosperous island country. Though an island, it has everything you need...including the best tailors in the region. Bahrain is also the Banking and financial capital of the Gulf. (GCC) I've been to Dubai. It too has changed extremely since those days. I like your thoughts on the dynamism, activity, and hustle-bustle. It would be 2nd to Bahrain. Jim

@borninsoho9710 3 жыл бұрын

I live in Dubai and My choice would be definitely Dubai. I lived in 6 countries already and Dubai is the top choice for my self and for my investment. So I totally agree with your choice. And it’s going to get better and better, the government has many good thing in the pipeline... i’m here since 2010 so not a newcomer.

@venusreena2532 3 жыл бұрын

good to hear

@pammyrogers 3 жыл бұрын

With that huge cargo ship blocking the Suez Canal it may not be so easy to get those consumer items. I need to live where there is nature. Things like water, trees and dirt.

@karandsouza6764 3 жыл бұрын

Great place to be in. As an investor, the rules change frequently!! Many construction projects are left incomplete. Can't get around the red tape. UAE is a great place to live , if you have the money but bad for investments

@imaadsurve565 3 жыл бұрын

Exactly what i was thinking..

@MfliInfomainpage 3 жыл бұрын

The ”Sean Connery” way hands down! Note: Bahamas is NOT a small place. Not only beaches... You can always go to Atlantis :D

@anastasiaavery115 3 жыл бұрын

Monaco rates highly for lifestyle. Italy is on your doorstep (and inexpensive) and the entire French Riviera for lifestyle. Movement in and out of Monaco is easy, by car. Paris is a short TGV train ride away, and Provence is accessible via the autoroute. That said, I own a home on the French Riviera, a business in Monaco and a residency in Andorra which works for me.

@prestontucker1687 3 жыл бұрын

Hard to get in to? Long wait time?

@JeromePowerrr 3 жыл бұрын

Im not paying 41 bucks for a hamburger though....

@danamurray735 2 жыл бұрын

Monaco is great. All you need is an extremely nice little boat. And you can enjoy The French Riviera as much as you want.

@awabinaraf8203 2 жыл бұрын

is it not worth getting a tax residency in monaco if you're not a billionaire? or hundred milliloonare?

@awabinaraf8203 2 жыл бұрын

so is your tax residencey in andorra rather than monaco? just wondering since copr tax in monaco is 33%.

@zoltan-gero 2 жыл бұрын

very good video, just be happy

@michaelmoguel8130 3 жыл бұрын

PREACH! I think now that people are working remotely it's only a matter of time they make the jump to working remotely and ABROAD. Man a lot stuff you are saying is what I tell my clients and friends, becoming an expat is 100% the best decision I ever made (2017 I made the jump). Making Dollars and living off pesos, lower cost of living + tax savings Night = and Day change in lifestyle. .

@gaeldesmontagnesnoires1711 3 жыл бұрын

I LOVE Monaco ... 2years of peace & quiet.

@prestontucker1687 3 жыл бұрын

Hard to get in to?

@gaeldesmontagnesnoires1711 3 жыл бұрын

@@prestontucker1687 not so much if you have + $20million or so ... more is better :)

@prestontucker1687 3 жыл бұрын

@@gaeldesmontagnesnoires1711 No problem. I just thought the wait period was long. Worth it?

@gaeldesmontagnesnoires1711 3 жыл бұрын

@@prestontucker1687 100% between October & May the rest of the year Monaco is inundated with car people & onlookers it's a little much ... anywhere all the time is a little much anyways. I'd say sure @ least with a lot of spendable $$$ you can have excellent accommodations 🥂 & Nice is 15mn in helicopter to jet off.

@user-wi9nn6dz8w 3 жыл бұрын

Service level in Dubai is often not great. I give you two examples. A friend of mine lived in a building on Sheikh Zayed Road and the building was without water for two days. Another friend wanted to get their guest toilet fixed. The workers couldn’t get it done and told him not to worry because it was only a guest toilet anyway. These are just two cases that show you what kind of people you will be dealing with in Dubai.

@exclusivenote Жыл бұрын

I lived in Canada (Montreal, Sherbrooke, Brossard and Stittsville Ontario) for 12 years now and I can tell you that this stuff happened more than I can count. And the service was meh. I was even scammed by white Canadians several times.

@user-wi9nn6dz8w Жыл бұрын

@@exclusivenote what does that have to do with Dubai?

@BurninVinyl 3 жыл бұрын

Monaco MonteCarlo is a very expensive country. Just try to rent an apartment is at least 2.5k-3k Euro/month. Plus you have same restriction you have in France, ect.. not a good deal.