What If Being An Expat Is Wrong For You?

Most people never leave the country they were born in. In fact, research at Washington University in St. Louis reveals that most adults live within 25 miles of their mothers. As formal education increases, that percentage drops off, but not very dramatically.

There are no definitive statistics regarding the number of American expats or citizens living abroad. Estimates range from around 3 to more than 4 million. 

Most indicators point to the percentage rising fairly dramatically in the last couple of decades or so, which is pretty easy to understand if you look at economic conditions in the US vs. other parts of the world that have expanding economies, lower living costs, and happier people.

Although there are challenges that come with moving to a new country and obtaining residency, with the help of our professional team, we can help you go where you are treated best, dealing with the complexities for you. Start creating your bespoke plan today. 

How Difficult Is It?

Most people see moving to a new country as a massive challenge and undertaking. That’s understandable.

In his book Nomad Capitalist, our founder, Mr. Henderson, discusses specific tax concepts as well as the benefits of living overseas and how to apply our global citizenship principles. 

The first time he did it was when he was 26 years old. Twenty years later, he did it again by moving to Belize. Paperwork for residency, new bank account, and new driver’s license. Ten years later, he did it in the UK. More government paperwork for citizenship, new address, mobile phone, etc.

If you float around and live as a nomad or tourist, as Mr. Henderson has in a dozen countries, you can even skip the government paperwork part. 

When you become a Nomad Capitalist, benefit from Mr. Henderson’s 17-year learning cycle, when he had to figure everything out the hard way, dealing with all the anxieties and how to do things the right way, so you don’t have to. 

The truth is, it’s really not as much of a challenge as you might think. It’s a well-trodden path, and you really don’t have to reinvent any wheels. It’s even easier when you get professional help from the Nomad Capitalist team.

What If You Hate It?

Fear is a big obstacle for a lot of people thinking about becoming an expat. However, in our experience, clients who have carefully picked out a new place to live and moved there don’t end up hating it. Sure, it can and does happen, but it’s rare.

But suppose you do become an expat and then regret it. You move to a place that is beautiful to you, whether it’s a warm, beachfront community, a European expat enclave, or some other place you vacationed at and loved. 

Perhaps you establish an online business to finance your lifestyle independent of a regular job; you open a local bank account that is outside the reach of your home politicians; you transfer some of your wealth away from your home country, where it is less accessible to lawsuits and new taxes.

Perhaps you start the process to obtain legal residency or citizenship. And, of course, you meet new and interesting people from all over the world who are doing the same thing you are doing. And then you decide you don’t like your new life and you wish you were back home!

Well, you simply move back home.

It’s very easy. You already know everything you need to know to move back. But would you shut down your online income? Would you close your offshore bank account? Would you move all of your money and assets back into the waiting claws of your local politicians and litigators? 

In fact, this is a classic win/win scenario. Win, lose, or draw, and you are better off doing all the things expats do. In these uncertain times, establishing your own independent source of income, having a bank and/or brokerage account in another country, having your assets distributed, and having legal residency in another place all make perfect sense for people who care about their freedom and prosperity.

There is no good argument for being a captive victim with minimal options. Expats have more choices. More choices mean more freedom.

The Nomad Capitalist team helps wealthy individuals create the ultimate Plan B, offering more choices and convenience by acting as the architects and general contractors for our clients’ diverse needs. 

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