The Great American “Plan B”

if the last year taught us anything it's that we can't rely on simply one country or one government and if you're an american you've seen that more than people in most western countries the quality of the us passport was at one point decimated to that of a halfway decent african passport with countries left and right denying americans to get in even americans who held residence permits in those countries we've also seen more and more politicians come out looking to tax everything from income to capital gains to wealth make wealthy people pay more for pensions that they'll never get as political momentum grows to tax the evil rich now is not a time especially if you're an american who can be taxed anywhere in the world on their income merely for the privilege of being an american to not have a plan b and so today i'm going to share with you some ideas for something that i'm creating that i call the great american plan b hi i'm andrew henderson here at nomad accomplished we've developed a team of three dozen people around the world a network of global experts curated by me and of course me all who help seven and eight-figure entrepreneurs and investors legally go where you're treated best you can learn more at nomadcapitalist.com and i've been working on this idea i'd like to hear your comments on it so leave a comment below and what i'm calling the great american plan b as a former u.s citizen myself i realized that if you're an american you need options because you've got a very odd combination of factors and quite frankly a very frightening combination of factors happening in the united states right now it was one of the countries whose reputation got hardest hit by the pandemic unlike citizens of for example the eu you were basically stuck in the u.s your whole time and what happens when you're stuck in the u.s means the irs can do whatever they want to you now americans are taxed on their global income capital gains and everything else no matter where they live but there are ways to dramatically reduce your taxes by living anywhere from puerto rico to countries all around the world and so what i think every american needs is a plan b that even if you want to stay in the united states many people in the last year have come to me many wealthy people have said i'm not planning on moving now but i want to know that i have a place to go and it's ready as times get worse and you know i think it's so important to have things ready to go before things get bad because we've seen that sometimes a tax increase passes in a matter of mere weeks or a couple of months sometimes new regulations don't take long to come into effect and so i think that the ultimate plan b if i'm an american who can be chased down anywhere i'm at in the world unlike other countries citizens is to make sure that i have a place to go make sure i have a good tax plan and make sure i have a plan for the ultimate in case i need to divorce the u.s to get away from any kind of tax regulation or whatever other stuff they can dream up and so the first thing that i would suggest is what if you need to leave the u.s physically you've got two land borders now the land border with both countries canada and mexico is at times during this pandemic been closed but what i would suggest as an affordable plan b is getting second residents in mexico that in a situation where land borders aren't closed you have a residence permit and you are one step above a tourist and you have access to get into the country so obviously not only is there a land border but you can fly back and forth between the u.s and mexico very easily and so my idea is that if i'm an american unlike a european who can go in numerous different directions to get out if something bad happens how am i going to get out of the u.s where am i going to go it'd be a lot easier to have a certain status next door as a resident it's relatively inexpensive to become a resident of mexico that's the first thing that i do to make sure that if i just had to walk out or drive out of the u.s to get away from whatever was happening i could do that and again i was at a level elevated above a simple tourist which mexicans have threatened under the trump administration to be more difficult on or during a pandemic may simply not let in but with a residence permit you'd have a leg up the second thing that i would do is i would get a tax friendly second passport and perhaps even a tax-free second passport so you've got a couple countries that offer so-called citizenship by investment programs which are fast are streamlined and if you're an american if you don't have a criminal record and you haven't been sued 11 000 times and you know you have decent health you know chances are pretty good you'll be approved we've never had a single rejection for citizenship by investment in our entire company's history which i'm told is pretty uh pretty good uh but of citizenship by investment countries you've got five in the caribbean you've got one in the south pacific vanuatu that i don't usually recommend you've got a couple in europe i would look at a tax-free place that if i had to go and live in that country i could so i'm looking at antigua and barbuda i'm looking at saint kitts and nevis now i personally became a citizen in saint louis because i don't ever plan on living in saint lucia or at least not long enough to where i'd be paying taxes there now depending on how you earn your income st lucia or grenada or even dominica could be tax free to you because they don't tax a lot of other things in some cases capital gains if you're living off of capital gains you'd have more options than someone who was simply uh you know earning an income so i would look at a place where i could potentially live and my income would be tax-free or very lightly taxed for most people the most affordable and you know best way to do that is going to be with a caribbean passport what i would also consider is which of these countries have airports that connect with non-stop flights to the us or potentially to some other you know international country so you know let's just hypothetically say that you know everything was totally falling apart you had to get into mexico and then you had to get to uh to your country you could fly from mexico to london and then london flies to some of those islands not all of them so they might be disadvantaged dominica at least until they build their international airport you know islands like st lucia or antigua stand out in that regard because they're more connected to the uk as well as being connected to the u.s in case you're just leaving like a normal person and so i would have a passport to where i had a place where i could live in a tax friendly way um potentially that passport would allow me to go and live in other countries without the drama of the u.s that might come up during a pandemic or during an incursion or whatever else might happen right i have an under the radar passport and if i ever wanted to divorce the u.s i could do that now what i would do on top of that once i had that passport is that i would then go and get a tax friendly second residence in a country where i would want to live so i wouldn't be forced to say hey i'm going to live in antigua so again now we're building your options you can either go from the u.s and new mexico and then to mexico through wherever to get to your island or you can simply go from the u.s directly to your island and they will let you in and then from there figure out how am i going to get to you know my home with my residence permit that residence permit permit could be any number of places in latin america where all you need to do is show that you have some monthly income or maybe deposit 25 000 in the bank or what i might do is find a place where i could buy some land and you know countries like ecuador countries like colombia uh even chile where you could go and buy land and you have a place where you could go and grow your own food and you could go and you know escape the hustle and bustle of city life i'm not a doomsdayer here but i certainly think that if you have a problem in the u.s you might want to go somewhere and be self-sufficient for a while and so i might look at a second residence in latin america i might also establish a second residence in a tax-friendly place like a panama perhaps like a georgia where you could also own some land georgia and eastern europe i might also look at malaysia for example a place where foreigners can on land one of the few places in asia that allow that and so having a tax friendly residence where i could go and live in that country and it was tax neutral meaning if i'm an american i'm not going to pay more and if i'm not an american anymore i'm going to pay nothing i would look at establishing that and from there i would look at you know should i purchase a home or some land or a farm or whatever in that country so that i have a place that i'm able to physically move to and that i'm comfortable physically moving to if things get tough and so one of the reasons that i you know i've built a collection of properties around the world is that when i want to go somewhere i don't have to deal with staying at a hotel i don't have to worry about if the hotels are open because of a pandemic or if there's any room or what season it is or i'm going to try oh things are getting so bad in the u.s but you know what i'm not going to go to my home in brazil because it's carnival season right now and i don't want to pay those prices if you had a home just sitting there waiting for you you wouldn't have to worry about it and so i think that you know tax friendly tax neutral second residents in a country where you can buy land you can buy property and then potentially doing that you know buying some property was looking at land in ecuador recently been looking at it for a while uh you can buy some very affordable land uh you can you know create your own infrastructure very cheaply something like that's very appealing and again i'm not a you know living off of seeds in the seed vault kind of guy i like cities but i also like the idea of having a place where i can go and get away from it all i think that could be very appealing and then from there i think in my great american plan b i would want a second second passport because if my plan b is i might have to just divorce the u.s entirely i would want to have a second passport from a what i would call a landed country or a mainland country uh not a country that that sold citizenship by investment so you know a lot of americans are going and getting golden visas in europe spending a little bit of time in europe and then just waiting until they can apply for citizenship in the future uh i think that if you're starting a business it's potential you know you could hire a number of people whether it's in portugal turkey bulgaria or any of other countries you could hire people and work your way rather quickly towards citizenship i might get a paper residence i might find a country where i could put some money in the bank buy some government bonds buy some real estate again start the clock taking on citizenship so i would get one second citizenship now and i would work towards the second one in the next three to six years so that i had multiple options in the long term okay as kind of a plan c which if i you know plan b became my plan a then plan c becomes my plan b so in summary i'm looking at mexico residents as an american because canadian residents contrary with the stars want you to believe every election season is rather difficult to get uh i would do that as a way to get out in the time of total chaos i'd look at a tax friendly tax-free second passport depending on my income stream and i would get that pretty quickly through citizenship by investment generally for most people i would look at establishing a tax friendly or tax neutral second residence potentially a place where i could buy property including land and create a home there i would potentially look at creating some other home bases just so i felt comfortable and then i would work on long term another passport potentially could be a citizenship by descent program if i had ancestors um but it also could be some other kind of you know mainland country so that's what i want to hear your comments on the great american plan b certainly that is from a personal freedom personal safety perspective as well as a tax perspective for the citizenship i would certainly be diversifying my assets into other places whether it's cryptocurrency i'd be moving gold overseas uh into foreign vaults you can literally if you have gold and a vault in the u.s or even in your home you can have a service that comes and picks it up we work with these guys and they'll literally ship it over to singapore or zurich or wherever else you want it to go and they can do that rather efficiently i would have my foreign bank account so i had money to access in the case of the u.s banks had a problem or that they you know started confiscating part of my wealth i would move any money that i could either out of a retirement account in the u.s or into some kind of offshore ira to protect it so i had a layer between me and the government that i think sees retirement accounts as the last big untapped pool of wealth in the united states so those would be the things that i would also be doing while i was working on the physical infrastructure of immigration passports residences real estate etc i would make sure that i'm protecting my wealth because i think that you're going to see the government do things you've never thought before i don't think that they're going to do everything that we think but certainly you know retirement accounts bank bail-ins these could all be in the agenda and you've seen other western countries literally codify the possibility for bank bail-ins into their laws so why not in the united states that is the great american plan b that i'm working on if you think there's something i'm missing leave a comment below it's certainly something that we're going to start talking to people about i'm not saying you've got to do everything but for someone who wants what i believe is the ultimate plan b i am on a mission to create that great american plan b so that people who come to me and want to want to work with me on making sure they're covered for any possibility can do exactly that and so that's what we're working on that's what i've got so far and looking forward to your comments how can nomad accomplice 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 nomad 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 capitalist lifestyle of your dreams go to nomadcapless.com and click on become a client

Channel: Nomad Capitalist

Views: 21,795

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Keywords: nomad capitalist, go where you're treated best, living in usa, life in united states, united states, election 2020, second passport, second citizenship, dual citizenship, taxes in usa, renouncing us citizenship, st kitts and nevis, bermuda, st kitts, caribbean citizenship by investment, dominica citizenship by investment, golden visa, cbi program, citizenship by investment, cryptocurrency, europe golden visa, plan b, avoid taxes legally, us taxes, tax advice, save money

Id: Mz6pd1LCK08

Length: 14min 12sec (852 seconds)

Published: Tue Mar 30 2021