Comments by "Marvin Fine" (@torontovoice1) on "How to Save $280,000 with Second Citizenship (Real Life Example)" video.

First of all I really enjoy your videos, I watch them almost every day and I'll continue watching them. And I know when people pay tax and, it annoys them to a certain extent, and when they find that the government spends money in areas that they disagree with, it annoys them even more. But there's a practical aspect to this as well. First of all, how many people have a business which is online and not location dependent? I don't think anyone knows the answer to that question, but it's a very low number and a percentage basis. My guess is less than 3%. Now let's suppose you're within one of those 3%, the oecd has a plan of foot right now where they will tax companies on the basis of not where they're registered would rather wear the sales are made. So moving your company to the Bahamas with an effective rate of 2.9% as opposed to 38% or more in the US may not help you at all. And I don't know how you would find a business that you were able to do online, and receive all your revenue in St Kitts and Nevis, or the Turks and Caicos or other British overseas territories? So while the application of these strategies looks very enticing, especially to people who have more than two nickels to rub together and pay seven figures in taxes, many of these strategies may not work going forward. I suppose people will have to explore new strategies and loopholes to deal with upcoming legislation. But lawyers when they draft legislation, they look at every known loophole and try to plug them. It's up to the entrepreneurs, and the very creative attorneys, to be able to continue making these strategies work. But I suspect they're going forward, and in the not so distant future, the new program of the oecd minimum tax of 15% that only applies to Big Business, will start to apply to medium-sized businesses, and then eventually to normal businesses. Remember when tax came out it was only a temporary measure. So my question to you my good sir, if you want to undertake to answer it, is how do you foresee the upcoming legislation giving rise to the territorial nature of where the income is generated and the oecd initiatives of minimum tax going forward impacting people who strive to minimize their tax by moving their companies and themselves to tax efficient jurisdictions. As always, your videos are very thought-provoking and enjoyable.
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@nomadcapitalist I'm not sure I understand what you mean, but as long as you do, then I guess that's all that matters. It just seems to me that I mean if you had a hardware store in Dallas Texas, you can't exactly move that hardware store down to the locations you talk about which are typically countries that have lower GDP per capita. And I really don't understand how that would help someone in any event because every country charges companies and people tax on money they earn within the country, even those that are territorial. So I'm not sure I understand exactly the nature of your comment.
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