Top Countries for Starting Your Business

the sovereign individual is a commonly recommended book that puts forth the idea that countries will compete for people it's something that we talk about here at now mad capitalist a lot and today i'm going to share with you my thoughts about countries competing for your business [Music] hi i'm andrew henderson this is nomad capitalist where we help seven and eight figure entrepreneurs and investors legally go where you're treated best and the sovereign individual great book if you haven't read it essentially talks about the idea that you should be a client not a citizen it was the precursor to what we talk about here which is the idea that in this day and age in the 2020s especially you can go out and sort of treat the world as a buffet you can go where you're treated best and say i want to live in this country and they have great personal tax rates and a lifestyle that i like or they have more personal freedoms i'm going to be a citizen over here because they leave me alone and i have great travel privileges i'm going to keep my money over here it is diversifying yourself around the globe picking the best that every country has to offer because no one country is best at everything let alone anything and so i want to show you a question that someone asked me recently a dialogue that i had and my position in this dialogue was that in this day and age the world has changed so many countries have opened up there are so many more options i have mentioned historically malaysia go and look at malaysia in the 1990s before the petronas twin towers look at where it was at i remember talking to a guy recently who was there in the 80s it looks nothing like what it is today they are now a very high level economy it has changed dramatically you have so many stories like that around the world including new economies that were just totally uh under lock and key back then in the 90s that now are open and and some of them are doing okay like let's say georgia some of the the ex yugoslavia countries you know some of them are very much up and coming like a cambodia like in uzbekistan so there's all levels okay and my idea was that the world today is like one of those 24-page tourist minis where you see if your favor like in a tourist destination and they got everything they got pizza they got subway sandwiches they got uh you know they got asian food you want a salad like they got it all because they want they want everyone and everyone and anyone to come in and that wasn't always the case i mean you didn't have that many options before and so i think that people need to change the mindset of uh thinking hey you know it's either the us or it's canada or it's australia or like maybe portugal there are so many places and so the question is uh someone asked me are you bullish in our future do you believe more countries will compete for productive residents or citizens like us as predicted in the sovereign individual sometimes elbow frayed will have less options i think my grandmother would say fewer options in the future and so here's how i look at it we've seen for example the uk no more investor visa we see a push in the eu to get rid of golden visas will you be able to move to europe if you have a business yes i think so i think that the english-speaking countries of the world are going to consistently be difficult whether in europe or elsewhere but you'll see plenty of very developed countries where if you start a business it could only be with maybe one employee it could be with 20 000 50 000 euros something like that there'll be plenty of places where you can go and start a business now is it the most effective place to start your business in some cases it's not bad such a country like estonia lithuania these aren't so terrible in some countries it's it's absolutely terrible i mean living in portugal and having income from somewhere else not so bad running a business with employees in portugal not so great okay and so there will be opportunities for business um i think you'll continue to see places like the uae the cayman islands others which will stand out saying hey open your business you can come and live here those are more expensive so probably not as good for someone who's just starting out in business if the goal is reducing living expenses as much as possible but you will see places doing that what you won't see as much i think is western countries saying hey buy a half million euro house put a million dollars in the bank you know invest 2 million euros or 2 million pounds in our stock market and come on in why because what we consistently talk about the same reason why you want to be diversified higher taxes more regulation more pushback less social cohesion where you live that's going to be the case in other western countries as well where politicians will pander to the electorate to say hey we're not going to let we're not going gonna let these people bring a million dollars to our country and pay more in taxes than you would or we're not gonna let people bring two million dollars and not even come and use any of our services i mean how dare they the goal right if someone's gonna invest two million dollars in the country they're there three days a year because they don't have to live there they just want the option to live there you know they're not driving on the roads their kids aren't going to the schools they're not using the hospitals how dare these people bring their money to our country that's the attitude right it's you're buying your way in that's the way it's always worked and i don't know that you ever look at it as buying your way in i would look at it as when you do something that's valuable to a country they should do something for you but the whole value proposition in those western markets is skewed now you have some countries in southern europe which have just gone so far the wrong direction they're now open for business portugal italy greece um i don't know that malta and cyprus did anything that bad but i mean greece i mean greece has a tax incentive now greece will let you come and buy real estate um and i think maybe that a program like greece survives longer because i think it's very difficult to get greek citizenship compared to other european programs um you know a program like latvia that's so infrequently discussed in is probably not going to lead to citizenship for most people probably survives you know the bulgarias the malta's the cypresses i mean you could live there perhaps but to go in some kind of fast track for citizenship that's commoditized i think those are more difficult so if you're a business and or if you're willing to live there and or if you're willing to pay some tax there will be some places especially in the developed world in the south okay but the general vibe is hey who are you to think you can just come and give us some money now the other side of the of the world the non-western the non-legacy brand countries and i would say the countries that haven't hit rock bottom yet i mean again if you're greece you're like oh my god we gotta we gonna bring somebody into this joint because we're really falling apart uh italy same thing um i think you will see more countries ratchet this up now certainly what you've seen throughout the pandemic is you've seen a handful of countries that have become a bit more jingoistic that the border officials have become nastier or the electorate has said let's keep these people out but by and large i don't think that'll be the issue i think anyone who tries to raise their prices in certain parts of the world may eventually bring them back down so look at thailand for example uh thailand has an investor visa thailand has an elite visa thailand has a good tax policy thailand is relatively flexible for crypto investors and all kinds of new things that are going on is thailand going to change that no and thai real estate prices are relatively high right now but i think there's a different mentality in a place like that where hey if you want to come and buy 10 million thai bot or 300 some thousand dollars in real estate i don't think they want to stop that they want to bring more hard currency to their country they want more investors coming they want more people coming and bringing their dollars i did a uh kind of a back of the envelope study once and it's been a while but when i was in malaysia i figured that even if i lived there a third of the year and they've since changed the tax laws to be a bit more aggressive but but not that bad but if i lived there a third of the year i really didn't have a tax obligation malaysia because i wasn't living there enough but i figured living there one third as much as everybody else who had the average job in kuala lumpur not anywhere but just in the city i was still paying more in taxes from eating at restaurants and buying things than someone who lives there three times as much and is using services they are going to the public hospital they're not going to prince court and and paying privately uh and contributing further to the economy they're going and they're using government services right and so i think that there are plenty of countries that will have that attitude because yes they do see it as a competition legacy brand countries we call them that for a reason because they attract people even if they haven't done anything good recently people to a certain extent will want to move to the united states either to get a job at a tech company or something like that either because they're economic migrants or i suppose some people they just like the prestige of it if you've ever been to parts of asia for example parts of latin america there are people who want to live in the u.s largely just to show off to their friends i've seen little examples i've had people hey oh yeah the chinese relatives visit come through our 5 000 square foot mansion look at how well uh how good we have it here in the united states that's part of it i think every country has the go-to place where everyone tries to live maybe their friends are there they want to network that's a thing but i do see growing migration i mean look at migration to to greece under the golden visa program a lot of these kind of golden visas in southern italy or southern europe have done very well you see growing numbers you see more people getting caribbean citizenship and you've seen some amount of increased interest from those people and actually moving to the caribbean countries you have great weather you have a tax-free climate many of them or several of them and so i see more citizenship by investment programs coming i don't see prices going down because i see demand going dramatically up in fact i think prices will probably go up in the long run especially for new programs look at for example north macedonia's program but yeah i mean countries that are in trouble will do this look at turkey they want they wanted hard currency to come in hey buy real estate you literally buy an apartment in one of the most significant cities in the world you get citizenship you can sell it in three years if you want or you put your money in the bank and you get it is turkey canceling that there's always rumblings they're going to raise it a little bit or eventually they're going to get rid of it but it's not this thing where they're constantly trying to get rid of it as the uk was always looking for a reason oh the russian oligarchs that's the thing today to get rid of the investor visa why because turkey may have some aversion to saying hey here's your citizenship that maybe it may be a political issue for someone in the opposition to say why are we giving away our citizenship the uk was never offering citizenship you still had to live there if you wanted the citizenship you just had the right to live there with an investor visa so there may be some aversion among certain groups in a country to hey we don't want you to become one of us so easily but there's really not so much aversion in my opinion comparatively too please bring your money in southeast asia has always been open to wealth singapore philippines thailand malaysia in particular you have wealth you can come and put in our banks you can buy a property whatever it may be here's your residence do i see some of the top tier places making more demands like a singapore yeah they already have because they don't need everybody coming you know i'll put 50 000 in the bank in singapore yeah great nobody cares right i mean you you couldn't even find a bank as an resident to open an account for you with 50 000 in most cases um but you know even some of the more you know established countries in northern asia south korea same thing i just think that the western world is very unique in terms of pushing back on people wanting to bring their money there so again you have countries that really you know need the tax dollars you have countries that want the investment want the hard currency like a turkey you have countries in southeast asia which have always been open-minded have always been open to wealth and i think you'll continue to see countries in south america which just by the way central and south america are just very open in general they are in the new world they're used to having immigrants and these are the ones where um they're competing for you in the sense of bring your income more than asia words bring your wealth bring your income bring your pension if you have a salary do you have some kind of income that's more what you're looking at latin america and so i wouldn't even call that them competing they're just realizing hey if people want to come in let's let them come in so you know i think perhaps you'll see some african countries start to open up you do have programs in countries like south south africa but perhaps less interesting i mean egypt put together citizenship by investment obviously you have in the middle east is from bahrain to the uae um you know those countries have residence programs yeah countries want talented people will they ratchet up the stakes will dubai will the uae become a bit more competitive to get into will they say hey what's a million durham's for real estate now in the future it's 2 million i can see them doing that by the way the uae didn't do that they just said oh if you invest even more we'll give you even more it wasn't even we're raising the stakes it's just oh we got a new thing it's even better uh and the old thing's still there so this to me is fundamental smaller countries countries that are looking to make us that are looking to make a splash that are looking to bring companies they can become successful all the countries that have these emerging silicon valleys they want people to come countries that want hard currency countries that need taxed hours countries that need people these are going to be wide open and so there's a lot more countries like that than countries that are pushing people away what i'm telling people very much right now is if you are from a western country the u.s or anything like it and you're only focused on the other countries like it you're going to think there's nowhere to go if you open up to all the places that are welcoming the ones that we mentioned you'll find an endless number of places where they want you to go but that requires making a little bit of a lifestyle shift making a few adjustments um and so with that the sovereign individual's idea of being a client not a citizen going where you're treated best i think is really more alive than ever don't stop now we've got well over a thousand more videos here on youtube for you to watch and learn how to go where you're treated best and if you want to work with nomad capitalist personally go to nomadcampus.com apply learn about our unique tried and true process garnered over years of experience and learn how you can become our 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Channel: Nomad Capitalist

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Keywords: nomad capitalist, go where you're treated best, second citizenship, second passport, dual citizenship, sovereign individual, sovereign citizen, countries will compete for your business, Ways to Shift Your Mindset and Embrace Change, living in europe, living in portugal, move to europe, living in thailand, life in thailand, real estate investing, Living in Malaysia, living in asia, Investing Internationally, how to invest, how to invest money, investing for beginners

Id: 5v63Dse3opI

Length: 14min 26sec (866 seconds)

Published: Sun Apr 10 2022