Andrew Henderson

Andrew Henderson

Founder of Nomad Capitalist and the world’s most sought-after expert on global citizenship.

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Podcasts

Episode 12 – Erica Taylor, 3 Types of Worldwide Taxation, Beware of Second Passport Schemes

If you value your wealth and freedom that a Western country affords be cautious of cheap and possibly illegal online offers of residencies and citizenships. There are legal ways to pay fewer taxes. If you have a business or are thinking about starting one, you are going to need solid planning and tax advice to ensure you are not wasting your money by paying taxes that are not required of you. In fact, in July plan to visit the Nomad Society’s private event or in August Andrew Henderson will be personally assisting offshore first timers, both in SE Asia. Visit Nomad Capitalist to find out more. If you are an expat don’t forget FBAR’s are due at the end of June.

Key Takeaways:

Andrew’s Editorial:

2:05 How to pay taxes as a digital nomad

3:38 3 different types of tax systems

4:46 Citizen based taxation – U.S. & Eritrea

9:12 Residential based taxation – Most developed nations

14:04 Territorial taxation – Emerging countries

17:04 Reduce taxes and stay where you are at

18:20 How do perpetual travelers pay tax?

Interview:

22:20 Following in the family footsteps

23:12 Existing money may decrease your drive

24:20 It’s so expensive to live in New York

25:53 No holidays working in social media businesses

26:42 Automating your business allows for personal downtime

27:43 When Erica landed in India

29:12 Mumbai welcomes you if you just jump in

30:52 English as a first language helps economically

33:13 Kickbacks are commonplace when it comes to paperwork

34:14 Get a local accountant and one in your home country

36:49 Perfectly legal tax options if you live overseas

37:32 Being based in India gives Erica street cred with international customers

39:12 Being a foreigner has helped with local clients also

40:47 Customer service challenges are typical

42:13 Nomadic companionships

The Lightning Round:

43:40 One business – Apartment brokering service

44:32 One country – India

44:52 One book – Meditation books

45:46 One tool – Evernote

Listener Question:

49:14 Ahmed asks “Why is it that the second passport process that you speak of is so much more expensive than what I see elsewhere online?”

49:28 Blackmarket second passports, Graymarket second passports and other scams

Mentions:

NomadCapitalist

EricaTaylorPR

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