Five Countries Better than New Zealand for Expat HNWIs

New Zealand has been in the news a lot in recent years as a place for high net worth individuals to go to protect their assets to have a plan B it's a place to live and even to get a citizenship and we've heard from a number of folks here at nomad capitalists who are interested in moving to New Zealand but New Zealand is not without its downsides and in this video I want to share a few reasons why you might consider somewhere else besides New Zealand and I'm going to give you five alternatives [Music] hi I'm Andrew Henderson and if you'd like to learn how our Nomad capitalist team can help you create a holistic offshore plan you can learn more at Nomad capitalist dot-com now let's talk about New Zealand my personal philosophy and my own life is I like to be in vibrant active places I like to have a lot going on I like to be in big cities in New Zealand simply doesn't offer that so for me personally New Zealand is in a place that would interest me now that said I understand why it would interest a lot of people the typical person who comes to us who inquires about New Zealand and suggests that that could be part of their plan is typically in their 40s or maybe their 50s they're certainly almost always married often have children and they point out the the tranquil lifestyle it's far away from the rest of the world you don't have all kinds of madness and chaos going on you've got a pretty affluent group of people that are that are isolated down there in the southern hemisphere they just point to a lot of different benefits of why New Zealand could be interesting now from a tax perspective certain people can also benefit from moving to New Zealand things like no gift tags there are a lot of kinds of taxes that New Zealand doesn't have that that many other similar countries like the u.s. of the UK or Australia would have and so New Zealand does make sense from a tax perspective for some people as well but for the average you know seven eight figure entrepreneur who has a business who has certain kinds of active investments New Zealand does have a tax exemption for a limited period of time it's not super duper straightforward there is some planning involved and something wrong with planning but from my perspective New Zealand is expensive to get into not on just an actual basis but compared to a lot of other places New Zealand rejects by some measures almost half of the applications we helped someone recently who spent a long time waiting in line in New Zealand only to have problems and this is not a guy from some far-flung country he was American and so the idea that you know I'm an American they'll just accept makes we speak the same language doesn't even always play true and so for me New Zealand considering the price considering the value considering your ability to get in considering the path to citizenship and their requirement to be there and all the different requirements to me it's a bit of a priced and so I'm gonna here to talk anyone out of New Zealand but I think that it's worth having some alternatives some of these you may have heard of some of you may have not number one is Jersey which is connected in a self-governing way to the United Kingdom so Jersey is about 45 square miles one of the Channel Islands and while they don't have a tax exemption per se they do have basically a flat tax where you go and you pay a hundred and forty-five thousand pounds per year to live there and you get a lot of the benefits that you would get New Zealand now obviously this is a much smaller island than even New Zealand but you're an hour away from London you're close to Paris and you've got a very tranquil lifestyle super safe english-speaking pretty you know a fluid you know population great schools great hospitals we were working on this as an option for someone recently it's very interesting if you just want to lay back lifestyle if you want to buy a beautiful manor home you want Gardens you want greenery Jersey offers that and so you can control your tax exposure if you're a high net worth individual you can pay basically a flat tax for all intents and purposes you can buy a property there and if you spend time there you can eventually become a UK citizen which is a bit stronger passport in the new zealand pretty similar a little bit stronger that's one option option number two not so far away Gibraltar if you don't want to spend so much money on tax Gibraltar has an option where you can pay right around 30,000 pounds a year or in some limited cases for some investors even zero in tax every year and so again you can structure that with proper planning to be a flat tax again while while Gibraltar is I was at the tip of Spain close to northern Africa a little bit different vibe than a Jersey it still has that UK connection obviously a very small place to live but if you're looking for something that's a bit more affordable than Jersey you have all of the same benefits but a lower tax price tag and a lower price tag for living those are places that speak English rate law common law systems a lot of the benefits in my mind in Jersey one has though obviously they're closer to some of the other stuff one hour to London could be a benefit it could be a drawback for me as someone who's travelling who wants to be in different places New Zealand's a bit further away so jurors your Gibraltar makes sense let's talk about a place that is also further away that offers not an Anglo environment but a francophone environment but also very nice which is Mauritius I had the privilege to spend some time at Mauritius recently very interesting place a lot of the greenery that were tropical than a New Zealand but you are on an island far off the coast of of continental Africa and so not only does Mauritius offer being far away from it all they offer really great rule of law pretty safe place some people call it the Singapore of the region they say it's run you know somewhat the same way in terms of maintaining safety but they've got great tax advantages you can pay very little amounts of tax depending whether you move your company the brush's depending on whether you have a company somewhere else you can pay anywhere as low as 3% tax on top of that if you buy real estate to the tune of about half a million dollars and in some cases even less in Mauritius depending on what you're looking for you can buy you know certain types of real estate that are designed for foreigners they're not as overpriced as you might expect in some cases you can find some deals and in as little as two years if you play your cards right you could become a citizen of Mauritius the process probably takes longer than that in reality but two years is a great starting point and Mauritius has a great passport that not only gives you access to the UK and the European Union but also Russian China it's an independent country and so therefore they have a passport that gives you access to a lot of different places that you wouldn't get with one of the Anglo world passports and so if you're looking for a place where you can be you know totally off the radar totally you know way from the rest of it all but also be part of a country that is has very good relations with pretty much everyone in the world the Mauritius I think fits that bill number four also of interest that I think a lot of folks probably don't consider is Uruguay South America obviously has its basket cases it has its emotional governments that seem to change more often than you change your underwear but Uruguay has been I think really a bastion of stability it's been a well-run place it has a certain banking industry they call it the Switzerland of South America it is relatively safe it's a place that is probably not a lot of people's radar it is not perhaps the most exciting place in the world that would perhaps be Buenos Aires nearby but if you're looking you know as an alternative to a place like Auckland you certainly are further away you're in the southern hemisphere now you're not an island you know you're on mainland South America but you were able to go different places if you want to go and you know make investments in other places in South America I'm excited about Columbia right now is an up-and-coming economy for example you have access to that you're a bit closer to the rest of the world and they also have a tax exemption that you can take advantage of giving residents in Uruguay is relatively easy so if you're looking to preserve cash if you have liquidity issues you don't really need that much cash on like New Zealand you don't need a lot of cash to get into Uruguay and you'll have a lower cost of living and you can get citizenship potentially faster than you could a New Zealand great passport to have number five is Singapore now we've heard of Singapore and for you know a lot of people I say let's look for the next Singapore I'm always looking for the next big thing because Singapore is now an expensive place to get into it's hard to get permanent residents it's really hard to get citizenship we have several really successful people one guy who runs a business another gentleman who's selling his business in Singapore and the big question we keep talking about as you know are are you gonna get PR because they've lived there for a long time they've create a lot of value for the country paid a good deal of taxes and Singapore just doesn't really need more people they don't need more money they're pretty well established but if we're comparing it to New Zealand I still think that the permanent residence pathway through investment in Singapore is perhaps more attractive than that of New Zealand citizenship maybe not the easiest to come by anymore your five to ten years too late on that one but you know in terms of quality of life in terms of social fabric in terms of you know cohesion of society and everything just working I'll put Singapore up against New Zealand any day you're obviously much closer you know if you're looking to go anywhere in Asia where there's a lot of investing opportunities if you're looking to go to Dubai to Europe your metres closer to a lot of places in the world and so while Singapore obviously is a bit more tropical it's certainly much more dense I think that for someone looking for a rule of law country that's very well-managed Singapore goes up well against New Zealand any day and all those countries could could theoretically be gotten into for a lower price tag and with less hassle than New Zealand we've helped the occasional person with their New Zealand strategy but what I would encourage anyone to do is look at all the alternatives all too often I think certain countries get promoted in the media are promoted in certain circles as the place to be whether it's Estonia for for online entrepreneurs whether it's Park Y for fast easy cheap citizenship and and sometimes it's New Zealand for really successful people who have made it who want to settle down a little bit who want a great country to live in and just relax I think that there are alternatives that are worth considering as well how can nomad capitalists help you four ways number one subscribe to our Channel and click the notification bell to make sure you get our new video every day number two get a copy of Nomad - capitalist the book you'll learn a lot of my personal experiences over a dozen years of studying this stuff as well as exactly some of the strategies that you can use to build your nomadic capitalist plan number three if you're not sure where to start but you want to come and learn from my team and I you want to come and mingle with like-minded people learn more about our live conference Nomad capitalist live it's coming up soon and number four if you want some help right now because you've got a burning issue you need something solved you want to lower your taxes get a second passport or build the Nomad account those lifestyle your dreams go to Nomad 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Channel: Nomad Capitalist

Views: 65,254

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Keywords: nomad capitalist, go where you're treated best, new zealand citizenship, how to get new zealand citizenship, singapore citizenship, Uruguay citizenship, Mauritius citizenship, UK citizenship, move to jersey, move to gibraltar, how to get uk citizenship, how to get british citizenship, moving to uk from usa, moving to singapore from usa, moving to uruguay from usa, moving to new zealand from usa, moving to mauritius from south africa, new zealand immigration

Id: Q9e3njHd-qg

Length: 11min 54sec (714 seconds)

Published: Tue Jan 21 2020