What Is It Like Being a Global Citizen, Chat With Andrew Henderson From Nomad Capitalist

Yasi: Hello, Andrew. Welcome to the Fast track podcast. 

Andrew Henderson: Great to be with you. Thank you for the invite. 

Yasi: I have known you, I mean, from the internet for about 10 years and, but for our audience, some of them might not have heard about nomad capitalist.

So maybe, could you tell us a little bit about nomad capitalist and yourself? 

Andrew Henderson: Well, I think nomad capitalist in one sentence, I think it’d be kind of like America, right? It’s an idea. Um, and it’s. Something that revolves around what I call the five magic words go, where you’re treated best. And my philosophy that my father told me inadvertently when I was about 12 years old was go where you’re treated best.

And I’ve used that as an adult, as a lifelong entrepreneur, uh, to, you know, live overseas, dramatically, reduce my taxes from what I was paying in the United States live in environments that I believe are more free. Invest in economies that I believe are faster growing, be surrounded by people that better, uh, idealize and represent my values and the people that I want to be with.

Uh, and so what we’ve done. Uh, over the years is started with is you set up a blog and in a YouTube channel, we’ve created over 3000 pieces of content, uh, over the years, uh, videos and articles, which have then been turned into podcasts and all that. So lots of free content about my experiences at 13 years, traveling around the world, um, Coming up on close to a decade of living full-time out of the United States and what that’s all about getting multiple citizenships, how to lower your taxes, how to bank overseas, uh, how to invest in other countries and it’s become a business.

So ultimately, uh, beyond an idea, it’s also something that we have turned into due to demand from the marketplace, a business where we work with high-level launch preneurs and investors to accomplish those goals. And so, um, it is something that is very much who I am and what we do. 

Yasi: I see, I was about to ask you, how and why did you start a nomad capitalist?

So from your story, I understand that it’s from demand from the market. Like people see what you do, or they ask you how you do it? 

Andrew Henderson: Well, I was an entrepreneur in the United States since I was 19 years old, I was knocking on doors, selling things. I created my own magazine. I sold stuff for my school. At one point I helped my parents.

Uh, sell their home by creating a website back before there were real estate websites. And so I’ve always been interested in selling things and marketing things and being an entrepreneur. And I’ve done that ever since I dropped out of a university at 19 years old. And so, you know, as a, as a, as a child libertarian who believed in lower taxes, it was all very theoretical.

And so. You know, there’s a difference between saying, Hey, taxes are too high. When you’re 15 sitting in your room. And being 22 and you just get a big tax belts. That’s your first big year. You’re making six figures and it hurts. Now you’ve got to actually pay real money. And so it was, uh, about that time.

Um, maybe a year later that I really started to travel a lot around the world and notice that things were different in different countries. And I. My father’s words go where you’re treated best, came back to me. And so when I finally sold my last us business, um, Uh, I left the U S for good. I had been traveling a majority of the time before that, but I left the us for good.

And I started writing on this blog called nomad capitalist. I came up with it with the idea of potentially being a media creature and, you know, being the guy that would be on CNBC whenever they had a segment about investing in Laos, that, that you can do that really. But, um, You know, in, in publishing this information and publishing, Hey, you know, I’m getting a passport or Hey this, or Hey that it, you know, people just called because there was nobody who was being authentic.

You have this entire kind of monkey see monkey do movement of guys with fake names, using stock photos who were writing about this stuff. Like the, the, it spoke to what the offshore world was, which is. A bunch of people who want to like hide out, maybe there’s some shading is to it in some cases. And I said, I want to bring this business out of the shadows because I realized there were so many legitimate entrepreneurs like myself who just wanted to go where they’re treated baddest.

They didn’t like the stigma of going overseas to lower their taxes, but they did like the idea. And so it’s developed over the years. Um, you know, each year seems better than the last, uh, and that’s, you know, that’s why we did it. It was, it was the one business that I never realized exactly. That it would take off the way it did.

And I think perhaps that’s why it did take off. 

Yasi: And in the last 10 years, how was your journey? Like what has changed? 

Andrew Henderson: Well, I mean, when I first made this realization, I was in my early twenties. And it’s interesting now to go back and look at, you know, look at some of these people, not to pick on anybody, but I look at some of these people who, you know, bought Bitcoin, um, you know, very low prices and now Bitcoin is going crazy.

I think that’s fantastic. Um, and I have a lot of respect for people who, who are visionaries. I also think that, that you have to be careful of is this kind of nouveau Reesh. Um, like snarkiness, like you knew everything. And I think what I’ve learned is just too much, I don’t know, as anyone does hopefully as they mature, but what I’ve seen is, you know, I’ve learned more about how this offshore world really works.

And you know, if you live in the United States, you can find it the value of your house in five minutes, by going online, you can have things delivered to your house that day. Um, there’s so many things that you’re used to, that don’t exist out here in the rest of the world. And I think that, uh, for me, it’s, it’s been learning.

What are the good things about the U S there are some good things. It’s a very consumer, uh, oriented, convenient culture. I think that kind of works against people in a certain way. Um, but there are certain things that are good about the U S um, services. Good. But I’ve also realized that the U S is by far where I’m from.

And I think a lot of similar countries that people generally compare it to when they say there’s nowhere else to go, the UK, Australia, et cetera, those countries really don’t measure up. And I’ve seen that to where now it’s just part of my everyday life. Um, I think that initially when people leave the U S sometimes it’s out of a certain anger, uh, they’re running from something rather than towards something.

And I’ve learned that you want to run towards something. Um, And I’ve learned just how different so many places are, but also how you can adapt to that and be very successful. And so, um, there’s a great fear of leaving the country and people project that in many different ways, they projected by saying there’s nowhere else to go.

Um, and I found that that’s simply not true. 

Yasi: According to your motto is go where you’re treated best. So presumably there are a lot of possibilities for people to go, but a lot of people are not aware of that. I thought, Oh, I was born in this country and then I have this passport and I need a visa.

I need a permit. How can I just easily live in another country? So what would you say to those people? 

Andrew Henderson: Well, I think go where you’re treated best can mean a number of different things. I also think it’s human nature, right? We’re all trying to go where we’re treated best, but we all build certain walls around ourselves.

And so, you know, I was on, um, Russian television the other day I woke up and I found that they had, they had done a story about us on Russian television. A lot of television in Russia is very propagandized. Um, it’s, Russia’s amazing. Everyone wants to come here. Um, you know, we have these terrible people coming from these poor countries nearby.

They’re the reason for all of our problems. Is it sound like some of the media and a place that you’ve heard recently is it sounded like the UK, when people were calling a Polish immigrants, vermin, does it sound like the U S then all the, you know, how there’s nowhere else to go and how everyone wants to come here?

And you’re an idiot for leaving. Um, yeah. You know what? Poor Tajiks. For Polish people, poor Salvadorians may want to come to your country. Doesn’t mean it’s a bastion for successful, wealthy people to live. And the fact is the Western world is heading in the wrong direction. And so I, you know, I’ve been reading the tea leaves and I’ve been fortunate enough to have a father who I think was reading the tea leaves 25 years ago when he looked at and predicted that Disneyland would be a great place to go.

Um, and he did because he had a family. And he had a business, uh, and it was harder to do business remotely back then he decided not to do it. Uh, but he planted the seed in my head that the us would not be by the time I am where I am now the best place to run a business. And I think much in the same way that Russian television propaganda exists there, it also exists everywhere else.

You know? How fortunate the you to be born in the one place that’s best at everything. Like how does that really work? Really? I mean, that’s how it works. Uh, it’s nonsense. And I think you were seeing a lot in the last year, especially a lot of the vulnerabilities in a place like the U S. People were at each other’s throats.

Um, it’s hard to get ahead. Um, taxes are high if you do get ahead. Um, there’s a lot of challenges and meanwhile, there are four ex communist countries recently ex-communist countries that now beat the United States in terms of free economy rankings. So your country’s not winning at anything. Well in all likelihood, maybe one thing, if you’re in the U S it’s it’s winning it, prison population per capita.

Um, that’s about it. It’s not winning in freedom of speech. It’s not winning and freedom. It’s not winning in happiness. It’s not winning in a free economy. It’s not winning in wealth. It’s not winning in. Bank stability. The United States, Canada, Australia, the UK, do not win in any of those categories. In fact, in some cases they don’t come close.

The U S has the 37th best healthcare system in the world. And I think that the challenge is convincing people, which is very hard to do and why 99% of people will never do this, that their country really isn’t that great. That’s a hard thing to tell people. 

Yasi: I think when we were born in certain country due to education or certain ways that you just bour was a natural pride and then people somehow love their country no matter what, but as you’re you said minority, might realize that, why I have to be bounded to the country where I was born. Right? 

Andrew Henderson: Here’s my perspective, right? I think that the world is a buffet. And so look at a place that when I was born, people wouldn’t have been talking about it nearly as much, Singapore, perhaps less talked about places now that have done a great job.

Taiwan, South Korea. Nobody was talking about those places to the extent that they are now. I mean, when I was born in the eighties, it was Japan. They were going to take over the world and look at that. When I was born in the eighties, you had the Soviet union, and now you look at countries like Georgia, which a lot of people wouldn’t be talking about.

Quite frankly, if it weren’t for nomad capitalist, it’s the sixth easiest place in the world to start a business. Because Mikhail suck is Philly controversial guy, but he’s become a great, uh, uh, you know, contact of ours here. Speaking at our conference, he came in and just blew the place up and said, we’re going to be a pro business place to, to be.

And, you know, so things can change in a lifetime I’m 36 years old. And so. You look at a place like Singapore that no one would have talked about. To the extent they do 36 years ago. It’s been a great place that many people look at it as a panacea. I think you’re not going to see another Singapore emerge, but I think you are going to find a number of Georges.

You’re going to find one place where you can start a business. You can find one place where you can hire. You’re going to find one place where you can live and pay low taxes. You’re going to find one place where you can do whatever else bank. And I think that you can, rather than trying to find one panacea.

Divide up your affairs, financial, where you live, uh, where you invest, where you socialized, who you date, who you marry, who your friends are, et cetera. I think you can divide that up to where. Uh, no one plays dominates your entire life. And then by the way, if one place does fall apart, as we’re seeing Western countries, particularly the English speaking ones fall apart right now, if, if one of those places falls apart, it won’t be the end of the world because you’re not fully invested in it.

Right. I’ve been invested. I don’t know, one or 2% of my net worth in different projects in, in Cambodia. Um, if, if I lose one or 2% of my net worth, and I think the chances of that are very, very low then I guess. So be it. Uh, but in the meantime, I’ve earned above average dividends. I’ve gotten above average capital growth, um, but it’s very, you know, tax favorable.

I’m taking a bet in a place that I think is up and coming. And I think far too many people are tied to one place. They should be diversified among five to 10 different places. 

Yasi: And in your own portfolio, I guess it’s the same applies to diversification when people are investing in stock market, why not diversify based on different countries, you have real estate in six different countries. That’s pretty well diversified. 

Andrew Henderson: Yeah. I, I just, I have homes in six different countries because as a guy who travels a lot and does business around the world, Uh, I’m a lifetime Marriott elite. They’ve treated me very, very badly. Uh, I’ve tried staying in it with airBnB and vacation rentals and I’ve stayed in too many of them.

I know people say, well, I’ve never had that experience. I’ve had too many experiences where you, you know, uh, let me see if we included hot water, that description up. We didn’t sorry. No hot water. So I decided to buy properties in places that I liked spending time in, and that I do business in. And, you know, some of, I guess a lot of them have done pretty well.

My property here in Columbia has, has gone up in value relatively nicely in the short time I’ve owned it even during a pandemic. Uh, and so I’ve done that. Plus they make the real estate investments into things like REITs into things like funds. I’m a partner in certain projects. Um, I’ve made just kind of regular direct real estate investments.

And so if you’re a us citizen, for example, foreign real estate owned overseas, like my homes. Uh, is not reportable legally to the U S government. You can own that and you can be diversified and have a little privacy, very rare way to have a little bit of financial privacy as an American. Uh, and so. I think that there’s a benefit.

Um, another benefit is immigration, uh, by buying property in certain countries, you can get residence and citizenship. And I believe that in the future being a citizen of one country means you don’t have options. They want to raise your taxes. They would impose a wealth tax. They want to impose retroactive taxes.

They want to impose new regulations. If you’re in crypto, for example, maybe they want to put you in a business where you live. I have so many us citizens calling me and saying, I can’t invest in certain things in crypto, I’m losing a fortune and opportunity costs because I’m an American, I can’t invest in certain projects.

I can’t do business in certain countries. Having a second passport that potentially comes from a real estate investment means you have options. And if your country decides to screw you, you just say, you know what, I’m out privilege. And so. Uh, you know, for me, real estate is about diversification. It is about higher returns.

And quite frankly, you know, I gave up my us citizenship several years ago. The U S is probably in my opinion, the most unfriendly country from a tax and paperwork standpoint for foreign investors, um, from an estate tax perspective, from a dividend tax perspective. So I minimize my investments in the U S even through equities, um, because.

Why would I invest in a country that wants to tax me with other places like China, which has been an incredible in the last year. If you’ve invested in China, you’ve done very well. Uh, I’ve done great in India in the last year. I’ve done great in Indonesia in the last year. Um, even in Latin America with some of the currency fluctuations, I’ve done very well.

Y you know, those countries don’t bother me. They just want me to invest. Why would I invest in a failing legacy brand? Like the United States that wants to basically rest on its laurels and make me pay the price I don’t. And so that’s why I’ve invested in countries around the world. 

Yasi: And in your own opinion, what are the countries do you think are up and coming for foreign investors?

Andrew Henderson: I mean, I’ve mentioned that in my portfolio of equities and debts and things like that, I, uh, I do have investments in Europe. Uh, I have investments in Latin America. I’m pretty globally diversified. I think that the middle East is interesting as well. Um, but in terms of pure play, direct investments, countries that I’ve talked about, I think Columbia is certainly still suffering from a stigma, um, that is greatly improved.

It’s one of the freest countries in Latin America. Bogota’s the fourth largest city in the Americas. And you’ve got people in a, in a, in a medium sized domestic economy here moving to the capital city. And while Latin America is not perfect, I think that this country is moving in the right direction.

I’ve long, been an advocate of Cambodia is perhaps the most investible country in Asia. I’ve got a friend who runs a, a project there called investigation and helping people invest there. Um, I’ve talked about Georgia. I think there might be some buying opportunities to a smaller domestic market. But I think the opportunities, especially for young entrepreneurs, uh, Egypt has come onto our radar lately.

I’m also looking at up and coming markets like Pakistan. Um, but you know, it really depends on what you’re trying to accomplish. Um, do you have the stomach to go into Uzbekistan early? Do you have the stomach to go into some African markets? Um, by the way, I think ISTA will also, some areas are tremendously under priced for a city of 20 million people in a domestic economy that is growing, but, you know, tremendously, they are taking market share from Chinese products by going higher there they’re taking market share from Italian and European firms by going lower.

They’re doing a great job when I buy a washing machine. Uh, in many parts of the world now it’s made in Turkey and that’s the value play. And I think that they’ve really pushed that in the last 10 years, it’s the most, a place for people to move in. And they have kids I’m like most places in Europe. And so I think roasted there has been undervalued because so many people say Muslim country and just that’s their reason.

Um, I’ve come to be used to that. Uh, you know, given what I do, I talk about some far flung places and people. Project their own fear back out by having an excuse. Uh, obviously there are reasons you wouldn’t want to invest in certain countries, but I think it really depends on how aggressive that you want to be.

I think for some people going and buying a home in Portugal, applying for the Portugal golden visa and getting citizenship in six years is a good enough diversification play. But if you’re looking to maximize yields, I think that returns, uh, is the countries that I’ve talked about. Um, And probably then some, 

Yasi: I talked to some business, people from Cambodia as well, but the price has been rising so much in the past years due to foreign investors. 

Andrew Henderson: Oh yeah. I was in Sihanoukville. Um, which is this nice beach area. I mean, the country you go, I go there about every year or if not more often. And, um, uh, you know, just the services available to you.

I remember taking some, some kind of. Half, uh, you know, how far to bus down from, from Noam Penn to Capitol Sihanoukville you could buy a condo, like pretty close to the water for 15, $20,000 back in the early 2010s. Now they’re making it the next Macau. It’s just incredible. I mean, 500% returns, 600% returns.

Uh it’s too late. Um, I still think in the capital city you’ve got deals again, my friend is doing some great deals with his fund, um, buying properties for under a thousand dollars a meter right in the middle of the city center. But you know, to do that anymore, you have to have a Cambodian company which he’s done.

He can’t just go and buy as a foreigner because they’ve tightened things up a little bit. You can bind a condo and pay $2,500 a meter. But I just bought property in the middle of Walden, poor for my house. Beautiful. Ready to go property for under $1,500 a meter. So why am I paying $2,500 for a condo halfway to the airport in Cambodia?

That’s not the deal. The deal is the play that not everyone can get into. And I think there’s still opportunities there. And if I’m 18 years old and I’m looking for a business opportunity, I’m looking for a frontier market where I can go and start a normal business. 

Yasi: You mentioned Kuala Lumpur, I knew that you have a lot of videos done in Kuala Lumpur, and then you have lived there for quite some time in the past.

Andrew Henderson: I have spent a lot of time in Kuala Lumpur. I think it’s a great home. Uh, I think Malaysia is a great place. I don’t know how investible it is. I mean, I think obviously I’ve invested in a lifestyle basis. I think the currency a while better now against the us dollar is, is, is stronger. Um, And I think that still there could be some upside in the longterm for the currency.

Um, I mean, this is a country that wants to reach, um, European standards by 2030, and they’ve done a great job. Um, in many areas, it really treating it. They are very developed country. This is a, this is a country whose passport can pretty much go everywhere except for the U S and Canada. Yeah. Um, so let me think.

Malaysia has been an incredible place to, I think that it’s the best place to go and get higher rental yields. No, because there’s been an incredible glut of foreign money coming in, building condos to look at my building. Part of the reason I got a great deal is because the bank had seven foreclosures to buy.

And so. My, my, my value dip, a couple of percentage points during the pandemic, before it recovers. It might, I’m willing to, to set for that cost to create a lifestyle property for myself as a, as a small part of my world. But, um, I think Malaysia is a great place to live for sure. And a great place to spend it.

Yasi: And the among, all the countries you have visited, like more than 100, if I’m right. And which countries or country you like the most? 

Andrew Henderson: I think there’s a lot of them. Right. And I think again, everything serves a different purpose. Um, I think within Asia, I think Malaysia is a nice value of being left alone, uh, tax friendly, consumer convenience, really nice people.

Nice weather. A little bit too nice for my taste. It’s nice to have some autumn every once in a while, quite frankly. Uh, but. I think Malaysia is great. Um, you know, I think compared to like Thailand or Singapore, I think it’s it’s for me. It’s the winter. I do love Hong Kong. Hong Kong is, is having some interesting things going on right now.

I don’t think it’s nearly as bad as people. Thinking the West think it is. Um, you know, I think George is an interesting lifestyle destination. I’ve I’ve done an extensive office with a team in Serbia. It’s about half of our global workforce. Um, Belgrade’s grids. Interesting. I think Eastern Europe is interesting Montenegro.

I’d spend time on the coast, um, Albania perhaps up and coming for European coast, kind of the last bastion. Columbia is nice. I think Mexico is fantastic. If I had to spend time in three countries for the rest of my life, I would choose somewhere in Eastern Europe, Malaysia, and Mexico. 

Yasi: Hmm. Oh, I think I watched that video from yours.

I’ve never been to Mexico, but I’ve lived in Southeast Asia for many, many years, and I like Kulala Lumpur as well. Like people are great. Food is great. He’s very international. They speak English. Great weather. Great facilities. Much cheaper than Singapore. Yeah. 

Andrew Henderson: And, and I think, you know, what’s hard for people in the West to understand people in the West, you know, maybe they go to Italy on a trip, maybe they go to Ireland.

Right. Um, the big question is, do people speak English? I was just in Belgrade for three months. English is pretty impeccable. Quite frankly. It’s surprising. Um, And so, you know, if you’re a tourist from the English speaking world, you’re your frame of reference is probably not extending as far as some of the places that we’re talking about.

I’m not saying that to be judgemental because we all start there, but I am seeing it that you really shouldn’t judge by your Western standards. You know, in Malaysia, I spent six weeks during a lockdown and I had a home and actually, you know, Um, I’m not really in favor of, I mean, I think they’ve shown the lock downs don’t necessarily work, but, you know, we were able to walk around.

We were able to do things that a lot of people in the us aren’t able to do. And I think that understanding that in certain countries, the government just isn’t on top of you as much as they are in some of these places. I’m not saying that there aren’t some tyrannical regimes around the world, but to say that out of 200 plus countries and territories, that you’re going to make your entire frame of reference to the us, the UK, Australia, Mexico, Italy, and North Korea is not fair.

There’s plenty of places in the middle. And I think I love Singapore. I think it’s a great well pavement and I use it. But to live. I don’t want a guy is politely as they do it saying you can’t have that bottle of water on our subway. Um, just not how I want to live. And if that means an occasional piece of trash on the street, or, you know, an occasional chip in one of the sidewalk tiles, I accept that as kind of an adventurous part of life.

Yasi: I’ve lived in Singapore for many, many years, and I think people are used to obeying the rules. It’s just like that. 

Andrew Henderson: For sure. For sure. Yeah. And there’s pros and cons too, you know, having an orderly society. Um, obviously, you know, I come from the U S is a very individualistic society.

They don’t understand that everywhere, but I think Malaysia has been great. It just as an example, in that it’s like, Hey, we believe what we believe. Whether it’s religion, not everyone’s Muslim, by the way, Malaysia is, you know, um, it’s about half ish of the population a little more. Um, but you know, whether it’s religion, whether it’s how we live our lives.

Hey, We were doing our thing. You do, you, and we’re really not going to get on your case too much about it. Um, you know, uh, even the way that they tell you when the park closes, you need to leave. I mean, it’s just a total difference from what the police or the security and in a Western country would do with a heavy hand.

Uh, so I think people would have to understand that. 

Yasi: And now with your business nomad capitalist, who are your main customers? 

Andrew Henderson: Our, our customers are what we call seven and eight figure entrepreneurs and investors. So if you make a half, a million dollars a year or more, if you have a net worth, that’s, you know, the seven figures and we just I’m really happy.

We got a great, um, you know, five-star feedback today from a gentlemen. With a nine-figure net worth. Right. And so we’ve helped people, you know, seven, eight, nine, 10 figures. And, uh, it’s really been great. You know, what I wanted to mention earlier is you don’t have to do all of this stuff. What we’ve seen in the last year.

There’s a lot of people who want what I call a plan B. They live in the U S or Egypt or Brazil, and they want to stay there, but they liked the idea of becoming a dual citizen. And so they want to obtain a second citizenship by investment, where they’re going to make a donation or an investment in some other country and get a citizenship quickly.

Maybe they have claim to some kind of citizenship through their ancestry, parent, grandparents. Great-grandparents maybe they’re going to get what I call paper. Residents will be a resident of some country by investing some money. And then wait three or four years to get their citizenship, uh, but then not want to leave their country.

And so there’s many different ways to live this lifestyle. That’s one of them, you know, you can have a plan B with offshore bank accounts, offshore gold asset protection, second citizenship homes in other countries. And never have to leave. We also have a lot of entrepreneurs who believe that 50% tax rates are killing them, especially when some of their competitors are paying five and 10, uh, in countries around the world, like Malta and Hong Kong.

And so we help them legally move themselves physically to lower tax jurisdictions, set themselves up and create those plans. So. You know, that’s what it is. I think it’s entrepreneurs who are sick and tired of not getting the value for what they put in there. Being called the nastiest names in their home country.

When they pay hundreds of thousands of millions of dollars in taxes, a year, half their compatriots pay zero in the U S and they’re sick of it. Uh, and it’s also, you know, investors in successful people who. Realize that, you know, the West, isn’t what it once was. There is a change going out in the world as there are always changes historically in the world.

Uh, and being tethered to a declining empire is probably not the best idea, especially if you’re a successful person. And then 

Yasi: what trends do you see from those seven, eight figure entrepreneurs? Uh, what needs are they looking for nowadays? 

Andrew Henderson: Well, again, I think that the thing has been, I’ve heard so many people in the last year who said five years, or sometimes 10 years ago, I would never have thought I’d be even thinking about this stuff.

Right. I come from a bit of a different perspective where this was on my radar since 12 years old, I was a very curious person. I was always interested in the world. I looked at world maps. I was studying other countries. And then my father said, Hey, listen. Uh, this country seems like it’s on a decline and especially if you’re going to be in business, uh, which I knew from about 12 years old, uh, this probably isn’t the best place for you.

And so I think people are now catching up to that and they’re saying. Yeah. Uh, Joe Biden just got into power. He says, if you’re a, you know, if you’re a successful guy and you’re, you’re investing in companies or you’re building a company going to sell it, or if you’re a crypto investor, we’re going to double your capital gains tax rate.

Uh, there are countries around the world I’ve never seen so much press about attacks is all around the world. We track this wealth tax. Is it being discussed? Uh, countries are talking about retroactive taxes where even if you leave. They can go back and say, Hey, you know what? You left a year ago, but you know, we’re going to go back two years and we’ll tax you then, uh, that happened in the U S and so people were just looking to be safe.

They’re looking to keep as much of their money as possible. Some people want to go to Dubai and pay zero. And quite frankly, you know what Dubai has its own. Uh, they have the right to set their own tax policies and people should be able to go there and do that. Other people want to live in Europe, they’re willing to pay 5%, 10%, 12% tax.

And they just want a great life in Europe. Um, certain places are opening up. And so, you know, for me, countries are always changing. Uh, you know, Portugal had a lot of problems up until the seventies and now they’re really turning it around and they’re trying to be open with tax exemptions and things like that.

And so people were just trying to find the best, right? Why would you stay in the S some pay 50% tax? If you could go to Portugal and pay five. What is it that the us has other than the propaganda in your grandmother lives there? 

Yasi: And also in Switzerland, to my surprise, that tax is even though it’s higher than Singapore, but it’s much lower than all the other countries.

Around it. And then moving from Singapore to Switzerland, to me, it’s already shocking that how much tax we pay here. 

Andrew Henderson: Yeah, for sure. I mean, uh, the world’s becoming very competitive and so, you know, let’s be honest. Um, You, if you went to a restaurant that had bad service and immediate group food, you wouldn’t go back.

But somehow we defend the idea that people are driving around the U S I lived in California for six months. You’d Reverend some of those roads, you feel like you’re the surface of Mars. They want to take 16 and a half percent income tax, right? That’s their new goal, whatever they’re already texting, it was not enough.

They wouldn’t take $1 out of every six, just for the state, not the us, not for pension, not for Medicare, nothing just for the state. And they want to deliver roads that you feel like you’ve, you’ve got a flat tire and people are in California saying, well, if you move to Dubai, you’re probably going to, you know what I mean?

Who knows what’ll happen to you? I know what will happen. You’ll be driving on beautiful, silky, smooth, paved roads, where people are nice where the service is. Excellent. And yet California, the US, the Western world in general has become the restaurant that like. It’s got 2.8 stars and like, nobody really likes it.

Like maybe you build there cause you’re in a hurry sometimes, but like you don’t seek it out and you certainly wouldn’t recommend it to a friend nobody’s going to that restaurant. No, one’s going to any kind of business that doesn’t deliver some kind of value, but they stay in a country where they pay and they pay.

And they pay. And right now in the U S you’ve got a lot of chaos. You’ve had a lot of riots. You’ve had protests, you’ve had a lot of problems and people stay because they think there’s no better. They haven’t seen better. They heard stereotypes, but other countries, they hear the UAE is this or Asia is that, or Mexico is unsafe.

I’d spent a lot of time in Mexico. I walked around Mexico, sometimes one in the morning. I’ve had no problems and there’s places to go and there’s places not to go. But I think it’s really kind of unfair that so many people follow what they hear in the media and they’re getting ripped off in their country because they’re paying and they’re not getting anywhere near the value and they wouldn’t accept that from any business.

Yasi: Yep. Totally agree. I think that just. Big from the media. People have a lot of like impression was a certain country, and then they formed the opinion about one country just from the media, but the media it’s one sided story and yeah, totally. 

Andrew Henderson: And then again, go to Russia and watch the television. Just sit in Russia.

And my wife, Mrs. H we call them Mrs. H is from Moscow and. She talks about all the grandmothers. And I think the same is true in a lot of Eastern European countries, they sit around and they watch the TV. I was interviewed by a journalist once in one of these countries. And at the end she said, you know, everything we do is just propaganda.

It’s all nonsense. And, um, they put it out in older people watch, they’re the ones who vote right. And, and you go to Russia and you’ll talk to deal. They’ll say that the U S is collapsing. It’s a third world country. No one wants to live there. Everyone’s fling. I was just on the television. Uh, three days ago, they were talking about me, how I renounced us citizenship.

And they put some words in my mouth because of like the country’s falling apart. Basically. Now I think the country is heading the wrong direction. Right. But their spin in a country like Russia is the U S is the enemy. And so why is it that, you know, there’s this propaganda, but what they say in the U S about Russia or anywhere else is not.

I mean, it’s, it’s really, it’s kind of like, I grew up in Cleveland, Ohio. And so therefore the Indians are the team that you root for in baseball or whatever. They’re changing their name to not even know, but I guess they’re changing their name. Uh, but you know, Why is it because I’m from Cleveland, I have to root for the Indians.

Why don’t you root for the winner? Why don’t you go and be on the winning team and make yourself a winner in the process? And I think so many people’s identity is wrapped up in I’m a loser. If my country sucks, chances are your country does suck. Um, and you can create your own identity by being a success on your own and not relying on an identity based on where you were born.

Yasi: I really love that sentence. My last question is how could people work with you if some of our audience I interesting having multiple citizenships reducing the income tax.

Andrew Henderson: I think the first thing to do is when we have a YouTube channel, I’ve got about 1100 videos right now, where you can go and watch and you can learn. We’ve got a blog, a nomad, capitalist.com. We’ve got almost 2000 articles and we, we keep them as up to date, is, is anyone can keep 2000 articles up to date. I also wrote a book called nomad capitalist.

It’s on Amazon, whichever style suits you best. The book certainly is a little bit more story-based and less how to, but at least you get the idea of what’s possible. The most successful people start with doing one of those things to get the vibe, right? Because you’re not going to reduce your taxes and not, and just sit, stay living in Abilene, Texas.

You know, you can’t set up a Billy’s company and run your business in Texas to the Billy’s company and not pay tax. It’s not that simple. So I want people to understand what’s possible. What’s what’s not possible. They can do it for free or 10 bucks in the case book. And after that, I mean, I think this year we’re basically accepting about 12 or 13 people a month.

I have a team of about 30 people. I worked pretty closely with about five of them to help create plans for people. And then we’ve got a team of about 12, 13 people who execute those plans. It’s a two-part process. And so. You know, for me, it’s strategizing first, it’s looking at all the options. It’s if I’m a us citizen, how does my investment over here affect my us taxes?

Because the guy over there has no idea how us taxes works. The guy in Panama has no idea how your banking in Malaysia works. And so we kind of worked to put the pieces together and help people. Um, but obviously because it is a boutique service, it is not something that we turn out like widget. Uh, and so people can go to nomad, capitalist.com.

They can click on the button to become a client. And we’ve got an application process. We’re looking for people who are nice. Um, we have been doing this a long time. No, I mean, in all seriousness, right? I mean, this, I get something from a guy he’s like, you’re like a big jerk. Why don’t you want to work with me?

It’s like, I think you figured it out. Right. Um, You know, I’ve I had successful businesses in the U S I have a very successful business. Now I don’t need to collect someone’s $18,000 to be miserable for, for a month, but I just don’t need it. But, you know, we’re looking for nice people who we can get an ROI for, which is why we say seven and eight figure entrepreneurs, um, people who can afford to, to do this properly, um, and not cut any corners.

And so, you know, good to know, medic capitalists.com and fill out to the application. And, uh, it’ll help us determine, you know, if we can help you and if we can help you, then we don’t want to, uh, you know, take your money. Maybe we can point you in a better direction. Um, but that’s what it is. And, and so, you know, um, you know, it’s boutique, it’s, it’s custom, it’s personalized.

It’s, uh, I think from years of experience, this is one thing that people don’t always want to hear. It’s human. I’ll make videos sometimes where I’ll talk about, let me just share my feelings on something and people say, no, no, no, no more ideas about passports. Which passport can I get? I said, listen, you’re, you’re never going to get.

The passport. You’re never going to fully do this. If you don’t understand that there are human wants, needs and desires behind the scenes that people don’t want to talk about because it’s emotional and they think it’s all about strategy. This is entirely about emotions. And so I think we try and touch on the human element, where we try and speak to people’s fears.

We try and sooth, you know, ease the process for people. In a way that may be an accountant who just wants to reduce your taxes by every percentage point possible want. Right? Most people would rather pay 5% to live in Portugal than 2% live in Bellaruse. Right. If you call KPMG and I’ve had many people who’ve gone to the big four and they come back very unhappy.

They say, Oh, you know, you just told me I can move to Switzerland or I can, you know, move to Dubai or I can, you know, I don’t want to do that. Right. So there has to be a human element to going off shore. What is it you’re willing to do? What is it you’re not willing to do? I think that’s part of what, um, as hopefully an intuitive person and someone who’s done this and who is, you know, seeing the frustrations can help people avoid.

Yasi: Hmm. Yeah. And for majority of people you’ve done not ready to apply to be a, your clients take also go to your website, go to your YouTube, YouTube channel. There are a lot of free content there. They’re very 

Andrew Henderson: helpful. Well, I appreciate that. Yeah. I mean, it’s, it’s, I’ve been writing articles for eight years.

I’ve been making videos for most of that time. We put in a new video every day. Um, among, you know, great shows like yours. People can hear other opinions. This is, this is for me, this is kind of like a, uh, like open mic night at the comedy club. I get to try out some new material sometimes or explaining things in different ways.

And, um, you know, there’s a lot of content out there. I think people. Can do it, how they want and they can take it as far as they want. Um, but certainly happy to help people. And I’m really proud that we’ve helped a lot of people. 

Yasi: I have observed that, people born in the late eighties till nineties, they are looking for global. Lifestyle, you know, location independent. They are not so patriotic. They just want the flexibility and the freedom. I see a really upcoming trend. There’s a huge demand among millennials. 

Andrew Henderson: I hope it stays that way. I do hear from a lot of folks who say, you know, we’re going to do this for five years and then we’re going to move back to Australia and have kids.

And we want them to go to the same schools. You know, they have schools in Singapore, they have schools in Switzerland. They have schools pretty much ever worked, quite frankly. Um, I remember when I was in Southeast Asia doing a long tour spending a month in each place, one thing I did in every country was I went to a school and I talked to the teachers who were from Western countries and they taught students of.

Diplomats and things like that. Nobody thinks that if you’re the son of an ambassador, you’re going to come back some stooge. I mean, you might be a stooge because you were raised by an ambassador who works 11 hours a week, but you know, it’s not because you went to a bad school. I remember being in, in Laos.

And, you know, seeing the school and I’m like, you know, okay, this is, you know, they’re following international curriculum. This is not so bad. And so, um, I hope that that continues. Uh, I’m glad to see that we have this more open mindset. Um, but I think that the two things to keep in mind are obviously countries are cracking down on that.

You want to make sure you’re in tax compliance with the country where you’re leaving and hopefully you keep that mindset open. Um, you know, beyond just five years, it’s an adventure and realize that, you know, you can do this as a way of life. I, uh, I need to seek special permission. If I want to go back just to visit the us, let alone live there.

I am locked in for the next 50 years. Got the willing of being a global citizen and, uh, it doesn’t Dawn on me at all.

Yasi: And thank you so much for today’s content and all the useful information.