Andrew discusses some of the current Presidential candidates and where they stand on their expat policies. If so-and-so were to get elected, what would it mean to US citizens living abroad? Many of these candidates want to have a residency-based tax and not a citizenship-based tax. Andrew argues that voting for someone is just a passive insurance policy. Instead, you need to have an active insurance policy that will protect you from people who don’t have your best interest.

Key Takeaways:

Andrew’s Editorial:

[2:20] How will the new president affect the expats?

[3:35] New Zealand citizens are getting letters from their bank asking whether they are US citizens.

[4:20] A number of the republicans are against FACTA.

[6:20] We still don’t know what Trump’s policies are on taxing expats.

[7:10] Ted Cruz, Bernie Sanders, and others are for a residency-based tax system.

[11:00] Will citizenship-based taxation ever come to an end?

[11:45] You have to seek an active insurance policy. Voting is very passive.

[15:55] An active strategy could just be having the right attorney and accountant.

[16:10] Bad professionals can do more harm than good.

[18:55] Where are your kids going to be born? Give them a backup option.

Interview:

[20:25] Andrew introduces Graham.

[22:00] What’s the minimum you can do with the maximum amount of returns?

[23:30] Follow your passion is horrible advice.

[25:30] It used to cost a lot of money to start your business, now it’s substantially much cheaper.

[28:35] The real juicy investments are the ones people won’t even look at twice.

[30:15] What makes Graham want to help entrepreneurs?

[36:00] Graham loves meeting different people every time he travels/lives in a new location.

[38:25] What kind of flags has Graham planted?

[42:35] Start with the basics and open a multi-currency account.

[44:20] Don’t chase cheap property. Invest in the best.

The Lighting Round:

[45:25] One business AirBnB.

[46:25] One country Japan.

[47:35] One book Anything by Jim Rogers.

[48:40] One tool Dropbox, Skype, ScheduleOnce.

Listener Question:

[52:05] Jeff asks, What kind of cultural examples should I look for as I travel the world.

[52:55] Lack of regulation can be very shocking from someone coming from a western world.

[55:20] There are a lot of benefits to Singapore, but here’s the thing, Singapore also does not have free speech.

[56:40] You want to be able to accept certain cultural differences that won’t affect you overall.

[56:55] What are you looking for?

[57:15] Eastern Europe has more freedom to run the business you want.

[59:10] The rest of the world has much more acceptance than in Western societies.

Mentioned in This Episode:

https://www.nomadcapitalist.com/

[email protected]/

http://www.upventures.io/

http://www.barefootjournal.com/

Nomad Capitalist Live
Last updated: Oct 14, 2021 at 7:46PM