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Nomad Capitalist Andrew Henderson On How To Expatriate And Launch An International Life

Currently 8 million US nationals living abroad in 160+ countries. It appears that, on occasion, the grass really is greener on the other side.

So many people go through life thinking that they are stuck with a certain set of circumstances, failing to realize that they are the only ones who can ever actually change them. The idea of going where you’re treated best means proactively pursuing the numberless opportunities the world has to offer. For example:

 

  • If you don’t want to live in a cold and snowy place, there’s no reason you shouldn’t pick up and move to a warmer location. Go where the climate treats you best.

  • Or, if you’re an entrepreneur and your business is getting crushed by taxes and regulations, there’s any number of countries around the globe with lower taxes and more business friendly environments that will welcome you and your business with open arms. So go where your business will be treated best.

  • If you’re an investor who’s wary of the U.S. financial system, invest in real estate overseas or open a foreign bank account with high interest rates. There’s no reason you should keep your money in a system you don’t trust when there are so many better options out there. Go where your money will be treated best.

 

Now, you can say these five magic words to anyone and they will have a different meaning for each person. Two “average Americans” will have very distinct needs and desires. For instance, if you’re working for a social cause specific to the United States, your purpose will best be served by staying and fighting. Your end goals greatly determine you location.

 

If you’re an American, the first step toward finding where you’re treated best is to leave the United States. This will enable you to take advantage of one of three or four different ways you can legally avoid paying income tax — or at least greatly reduce it.

 

Photo Credit: Yoann Boyer http://bit.ly/2gFitDn
Photo Credit: Yoann Boyer http://bit.ly/2gFitDn

On the other hand, for people like myself and our avatar — younger to middle aged folks who are still working or who are entrepreneurs, business owners or investors — then leaving the United States may make a lot more sense for you. If your end goal is greater freedom for you or your business, chances are that there are better locations and opportunities for you abroad.

If you’re an American, the first step toward finding where you’re treated best is to leave the United States. This will enable you to take advantage of one of three or four different ways you can legally avoid paying income tax — or at least greatly reduce it. Under most of these options, you can live or travel pretty much anywhere and still enjoy the tax benefits.

No matter where you live, if it is a high tax paying country, leaving is the first step to getting the biggest benefits. Shifting your mindset to understand that you can leave is the first step for anyone looking to go where they’re treated best. From there, the steps will be different for each person.

For someone looking for a place where they are treated best from a living perspective, a lot of nomads have decided that locations like Thailand are the place to be. And, let’s be honest, that extends all the way down to many of the guys who just go to Thailand because they like the dating scene. But,hey, that can be part of the equation too.

One hidden gem I’m quite keen on is the region of former communist countries in Eastern Europe. They offer a high quality of living where you can enjoy reasonable prices without having to sacrifice too much. Among my favorites, Belgrade, Serbia and Budapest, Hungary are fantastic.

I also own property in Montenegro and I’m buying more along the beautiful coast there. The people in Montenegro are extremely friendly, the women are beautiful (which could be an important factor for some), and women tell me that the men there are good looking too. People are friendly from a dating perspective, as well. To top it all off, taxes are pretty darn low (with corporate tax at 9%).

 

Photo: Petrovac, Montenegro; Credit: Srdjan Ivankovic http://bit.ly/2gxYCku
Photo: Petrovac, Montenegro; Credit: Srdjan Ivankovic http://bit.ly/2gxYCku

Places like these areas are the ones to look for if you want to go where you’re treated best for lifestyle purposes. Look for a place where you get a nice balance of connectivity and low cost of living without sacrificing everything.

From an investor’s perspective (and lifestyle), I am a big fan of Georgia. Located in the Caucasus region, Georgia is the place that perfectly fits the “go where you’re treated best” motto. For over a decade now they have made everything so easy, from opening a bank account to starting a company or buying real estate.

I own a dozen properties in Tbilisi and I’m constantly buying more to renovate, sell, use for commercial purposes or even to live in. It takes me 20 minutes to register a property and it costs around $20 USD. I’m spoiled in Tbilisi. There’s nowhere else in the world where these types of procedures are this easy.

For entrepreneurs and investors to go where they’re treated best, one of the most important characteristics to look for in a country is ease. I am a resident of a country in the European Union (which has some great benefits in terms of travel), but if you want to change one address you have to pay around 600 EUR and obtain four stamps and run all around town to get anything done. When countries make things that difficult I just say forget it.

Value your time and go where the procedures are easy and the taxes are low. For me, I’ve found that Georgia fits that criteria perfectly.

 

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