Two First Steps to Escape the USA

in the last year i've heard from more americans than ever who are looking for a way to escape the united states whether they want to expatriate give up their passport never look back whether they want to stay u.s citizens but live overseas and distance themselves from the chaos and the rising taxes or whether they want to stay in the u.s and simply have another set of options have a backup plan for when things get bad enough for them more people are realizing that escaping the us isn't as extreme as they once thought and today i'm going to give you two things to think about before you build your plan hi i'm andrew henderson and here at nomad capitalist we've built a team of over 30 people spent over a dozen years curating a network of the best global experts all to help seven and eight-figure entrepreneurs legally go where you're treated best and today i'm going to share with you my two first steps to escape the us now we've been very successful in part i think because i don't do doom and gloom we're not here to talk about fear we're here to talk about facts and so perhaps the word escape is a little aggressive but i think people understand that they want the ability if not to leave the country now they need the ability to do some because you have politicians who are increasingly calling out wealthy people they're looking to raise taxes they've already been reducing freedoms the u.s passport is a shell of what it once was in this current climate and i think people realize that they need options and so this is not going to be a video where i share the exact passport that americans should get or the best offshore company we have lots of videos over a thousand of them you can go and watch that but i want to take one step back because one thing i've learned from from 13 years of traveling and doing this stuff and one thing that i've seen not having someone like nomad accomplice to help me is the the mental and strategic preparation you need to have before you even start looking at which passport i want to get is my second passport or where i want to incorporate my company i've seen people having helped hundreds of folks i've seen people do themselves a great disservice by rushing into what i call the shiny objects the panama companies the malaysia residences the malta citizenships so the first step is i want you to mentally prepare yourself i think the challenge for folks in the west that i see less so with people who are from you know african or eastern european or asian countries it's more of a western thing is they there's a certain bubble with all due respect it means true we all have to break out of it of how the rest of the world works and there's so many people in the u.s who are around you saying it's the best country on earth how many people have you heard who have said i know the government's listening to our phone calls and others spying on us through our laptops i know that the taxes are through the roof i know that the nation is divided but you know it's still the best country on earth i mean really like out of 200 countries there's nowhere where the government just leaves you alone doesn't take half of what you make and and people aren't at each other's throats i mean really so you have to get out of that person so what i tell people is you know right now in the last year we've developed more approaches for remote bank account opening you can open a bank account whether it's switzerland lichtenstein or just somewhere an emerging world country that's that's easy and cheap you can do that from home but what i would suggest everyone do as a first step is take a trip somewhere it's possible even with a us passport there are places that are open you can go to turkey you can go to serbia you can go to uh montenegro you can go to armenia um there are other places that are opening up you go there this does not have to be the be all end all bank account but you go there to a place where you can go as a tourist and open a bank account you go you take your hundred dollars your thousand dollars your five thousand dollars whatever it is you go and open the bank account you put the money in the bank account while you're there and then you go around and you look around the city and you realize how in this place it's not as bad as you thought now maybe the culture's a little bit different i'm not saying you're going to go and live in armenia i'm not saying you're going to go and live in turkey but i want you to choose a place that's a little bit off the wall and i want you to go and i want you to see you know istanbul may not be for me but my goodness they've got a lot of hermes stores around here this place they got everything you need they have tasty food you know people aren't murdering each other in the streets i don't know whatever the the stereotypes that people around you have go and see that they're not true and then i want you to come home and i want you to wait a week a month a year whatever it takes and i want you to go to the atm every once in a while now if you're an american you may need to report this account depending on how much you have you'll want to learn about fbar and things like that to make sure you're not illegally hiding your money that's that's something that we talk to people about but i want you to go maybe you use the atm card maybe you use you know you use the card to buy something you check your online bank balance and your money is there because no country has more bank failures than the united states and so there are some countries like singapore something like that or in austria where they haven't had a bank failure for decades if not never and you'll see your money is still there and i think that that's one way being there and seeing it i've sent people to some pretty exotic places and they've gone and expecting the worst and they've said it's pretty nice and then the added point of having the bank account there now you could do something else you could have some other kind of economic tie maybe you buy a property there and a year from now it's still standing but a bank account seems easier and you're going to start to mentally condition yourself because i think that it's very difficult to pull the trigger i've had couples for example where the wife or maybe the husband but usually the wife she'll only go to one country right you're not really fully exercising all the options available to you as a nomad capitalist if you're saying the only place i'm moving if we go overseas is london forget it i won't go anywhere else well you're not going to get the best deal so the first step is you have to you know open up the eyes of yourself and anyone else in the family who is responsible for making the decision to move to to do that and so the second thing i would do is really get clear with yourself and have very honest conversations with yourself on what am i trying to accomplish with this nomad capitalist stuff i gave you three categories at the beginning of the video one is i'm cutting my ties with the us i'm out of here certainly i have more people who are single doing this but i do have married couples where one person wants to expatriate from the us because they run a highly successful business you know they they want to pay no tax to the u.s they don't want all the burden of paperwork and reporting or maybe they're in crypto or maybe they're a day trader and it's just easier to just get out of the us is that what you want to do would you feel comfortable if you had to get a visa to come back to the us or you would have come back as a tourist not a citizen you know how would you feel about that a lot of people they're not ready for and so that's fine i think you know potentially um you know you want to go and spend some time overseas first and i'm not suggesting anyone anyone does that but just ask yourself how would you feel about that okay you take that off the table now how would you feel about moving overseas is that what you're trying to do what would change what are your fears around that these are the kind of questions that i ask people when i'm working with them because i want to get that human connection i want to make sure people just don't tell me things that are shiny objects or that they wish they could achieve but they're not going to execute on and so from that i think you'll start to figure out okay well what is it that i need because if you're sitting in the united states and you're running a business online you can set up all the hong kong and belize and seychelles companies that you want but your companies are still going to be taxed in the united states so you might have an asset protection benefit which is certainly something to think about but you're not really going to get a tax benefit living your whole life in the u.s and so if you're not gonna move uh in some capacity then tax savings are gonna be a lot more difficult and so you know is the goal to save taxes am i willing to do what it takes to save taxes um you know what kind of business am i running and and you know how distant from the u.s can i make it do i want to get a second passport and if so why okay well i said eventually i'd like to leave the us for good well then i'll need a second passport or you know what it's just a it's just a diversification tool i want to have a place that has to accept me if things get bad enough and i think when you ask yourself those questions you'll start to put yourself in one of those categories you're either going to totally divorce your country you're going to leave but keep the op keep all of your options open you might pay a little bit more in tax you might have a little bit more paperwork you might have a few more hassles and regulations and restrictions for sure but you know you're going to keep all of your options open or you're just going to expand your options by getting a second passport so you know we work on three different things here at no media capitalist one is the financial part part of that could be asset protection i have a bank account in another country for an american it's gonna be reportable if i'm living in some country it may be reportable uh but it's at least a place where i can put my money and it's it's far away from people that that might want to grab it i can also do that with corporations trusts etc that's financial there's also financial diversification i want different currencies i want different asset classes i want to own real estate somewhere else et cetera then there's taxes okay again a lot easier if you're moving somewhere else to lower your taxes then there's citizenship do i want a residence in the country do i want a citizenship in a country which of those things would satisfy you know the difference between residence and citizenship i've got a video on that and then there's investments am i looking to invest in other places you know one of the best things that i did last year uh was was increase my holdings in in cambodia it was a great performing uh investment for me even in a crazy year uh because i believe in frontier markets it's part of my portfolio right you're not going to get the kind of frontier market returns or non-correlation that you would you know by investing in in you know properties in nashville tennessee or in adelaide australia and so am i looking to make investments do i want to buy a home to eventually move overseas i think you have to figure out you know what your timeline is and what your goals are and how bad you think things are you know if you're paying a million dollars a year in tax and the only way is to leave the country for good to save that million dollars then you might want to think about that if you're running a business that's on the ground in the us and you just think hey let me give my family some safety then you're probably staying put but getting a second passport getting a residence buying a home somewhere else these are the things that i want you to ask yourself before you make the decision and as you go and watch our other videos as you go and listen to our podcast and read our articles on nomadcalculus.com we've got thousands of pieces of free content i want you to keep these questions in mind i want you to keep those three different options in mind which camp are you in because once you determine that then you can really figure out you know where you're going to go from there what i don't want you to do is read somewhere portugal golden visa and not realize if that's going to solve your problem because maybe you would be willing to live in a european country in which case you could invest a lot less and you wouldn't have the opportunity cost you know or people say i want a st lucia passport why uh you did it or i want to sink its passport why someone said it was the platinum standard i mean we're all susceptible to marketing and we're all susceptible to you know falling for you know i need this one thing but in reality i think you need to consider uh timeline goals uh what you're willing to do what you're not wanting to do these are the questions when i'm working with someone we'll put together a couple hundred questions not only about strategy but some of this stuff to really get down to on a human level what you want you're not going to escape the greener pastures in my opinion having done it until you answered those questions for yourself 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 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: 86,780

Keywords: nomad capitalist, go where you're treated best, second passport, second citizenship, dual citizenship, living in usa, life in usa, open bank account, armenia bank, living in turkey, living in armenia, living in istanbul, travel in istanbul turkey, asset protection, tax friendly countries, renounce us citizenship, living abroad, moving overseas, leaving usa, life abroad, life in istanbul, armenia, turkey, istanbul, wealth creation strategies, avoid taxes legally, taxes

Id: VhkvyPVuJjc

Length: 12min 42sec (762 seconds)

Published: Mon Feb 01 2021