Comments by "Hari Sadu" (@harisadu8998) on "Nomad Capitalist" channel.

  1. General rule: If dual citizenship is allowed and you are eligible for another passport, just get it. If dual citizenship is not allowed, then you have to debate the pros and cons.
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  2. The list is very strange. It puts India next to China. There's no universe in which China is at almost an equivalent rank to India when it comes to speaking English.
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  3. No huge benefits to British citizenship for Irish citizens. Irish citizens can live and work in the UK as well as vote there and run for office. The main benefit to British citizenship is probably access to a better embassy network.
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  4. America has promoted chain migration instead of talent migration. The number of immigrants are high and they got quantity over quality. Now it's difficult to persuade the public that more immigration is good.
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  5. It's one thing to "plan to leave" and actually leave. Many people plan but don't go through. Definitely some people do leave but that's a minority always. It's always easier for people to gripe and contemplate leaving then to actually go through with it.
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  6. Salaries have zero tax. So if you own your company, pay yourself a fat salary. Secondly, free zone companies it seems will not be taxed. So these are the two ways you can avoid tax.
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  7. I think a lot of people think that they are waiting for some apocalypse moment to leave. My only question to them is: Really? Wouldn't it probably be too late already?
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  8. Leaking people's taxes should be a crime punishable by 2 years in prison.
    29
  9. Are you so naive to think that just because the rich are a small percentage of people, they don't like to watch youtube videos? Because they certainly do!
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  10. Ecuador stopped visa free access for Indian citizens apparently to stop Indians using it as a stepping stone to go to the US. Go figure. And Ecuador is so far away!
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  11. I don't think an Australian passport carries much stigma anywhere the way the US passport does.
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  12. Plenty of Aussies travel overseas. Americans on the other hand travel much less.
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  13. If you get access to all the countries that Andrew showed in the map, frankly it's not really a big deal to apply for just a couple of visas and then you have pretty darn good access to the world.
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  14. You can still bank in Hong Kong but the thing is that they don't want you to be American and they don't want you to deposit some small amount that causes them trouble. They want you to deposit at least over $125K to take you seriously. Otherwise, they want you to be a resident.
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  15. Bad press in India is usually badly motivated as well. You can infer this because there's so much investment going in but the good press barely gets out about what progress has been made.
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  16. mm2h is too expensive for the viewers of this channel at $10k/mo passive income.
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  17. That's just the federal governent, it's over 50% if you look at 13 states!
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  18. India doesn't allow dual citizenship, so the case is closed there. The Indian passport is not very strong but does not really have global reputation issues as Indians generally enjoy a good reputation overseas. The reason for the passport not being strong is that India is a very large country with a very large population of poor people so countries don't want to take the risk that might arise if large numbers of poorer Indians somehow started travelling overseas.
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  19. Andrew, you can invest directly in India through GIFT city. As you say, onshore is the new offshore. India, with GIFT city, has tried to create a Mauritius on Indian soil.
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  20. Only US investors. Foreign investors don't have to pay.
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  21. @Pocket Lawyer In India, there's a lot of good culture and a lot of bad culture. Typically, the people who really want to leave are those who suffer under the Indian system because it is unfair to them. They typically have a good, hardworking culture and you see that in Western countries with Indian immigrants. There are lots of Indians with a really bad culture but those guys don't really migrate much.
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  22. Always think about the most fringe possibilities, right? Furthermore, your money is not sitting there as cash in a vault.
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  23. How to move to Europe: Moldova is calling 😂
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  24. Rwanda is actually a surprisingly pleasant place with good weather.
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  25. Please do more of these videos about different countries you visit!
    11
  26. If you're using tax treaties to claim benefits in your home country while living in Dubai, whatever the treaty says will take precedent. If the treaty refers you to local laws, then the law that the UAE passed will apply but if the treaty defines the residence period for the UAE, then the treaty will apply (for example, in the treaty with India, it clearly says that you have to live in the UAE for 183 days to be considered a resident).
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  27. My question is how easy is the process to renew passports given that there are no embassies in most countries? And how do you receive the renewed passport.
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  28. But if you live in most places full time, you're required to pay tax on your foreign income. So the key is to find somewhere that gives an exemption on tax on foreign income. Such as Malaysia.
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  29.  @antoniodelmar2525  The Irish passport is advantageous because it gives you rights in the EU, it gives you rights in the UK and Ireland is a country which has very little geopolitical controversy so no one hates the Irish when you're travelling to other countries.
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  30. 45 also tried to eliminate the salt tax, which was the right thing to do but at the same time, it was a tax saving tool for many.
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  31. That's not his YouTube audience. That's his clientele.
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  32. Make a video about divorces for Nomads!
    9
  33. Trump should have claimed British citizenship through his mother.
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  34. It was probably Coutts and he may have been offered a Natwest account. It's also possible that he was below the minimum balance for Coutts but a private bank should inform their client to increase their balance at least, not just close it abruptly.
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  35. US life expectancy varies a lot depending on who you are and which area you live in.
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  36. Please also keep in mind that AI will get better and better and soon AI will be able to work out your taxes better than CPAs.
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  37. And he has never wanted to. Why should he?
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  38. Why does he have to care? Is he forced to? He has made it clear that he does not. You don't need any guesswork there.
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  39. That's the first time you've shared a map. Thanks for doing that! Do you get those countries just based on passports or do you also have other things like APEC Cards. And in all these years, you never bothered to apply for a US tourist visa? Is it really that bad to not have it in your pocket?
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  40. You are an EU citizen as an Irish citizen so yes. But one very unique benefit as an Irish citizen is that you have full rights to work and live in the UK also AND even vote there!
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  41. This ain't valuetainment son
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  42. Being stateless is a stupid idea. You are nobody with no rights.
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  43.  @tomfoolery8100  One doesn't need to claim citizenship to be considered a citizen. Just because someone hasn't applied for a passport or is unaware of passports does not mean that they are not citizens. If one is born on the soil of Brazil, even native people, who even may be from uncontacted tribes are Brazilian citizens. LIkewise for the rest.
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  44. I would pick Uruguay if it is doable with that kind of money!
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  45. You don't need to give up citizenship in most cases unless you are 1. American OR 2. From a country which prohibits dual citizenship and so you need to surrender your current citizenship in order to get a better one (e.g. India or China).
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  46.  @RockinfromtheGrave  Not really. Dubai was one of the top places Israelis visited during the pandemic.
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  47. Complete school and figure out if you can go overseas for university for free. Consider some European countries.
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  48.  @Juznik1389  There is no need to renounce Sweden, don't be stupid. It is a residence based passport. All you need to do is move somewhere you like. Why would you renounce. Renunciation is only really needed for Americans OR for citizens of countries which force you to keep their passport or renounce if you get another citizenship.
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  49. This is kind of true. But you need to be a foreigner first. And you need to remain a non-resident.
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  50.  @tuforu4  If you are an American citizen for example you have a bit of a target on your back when you're travelling to some countries. The Irish wouldn't have such a problem.
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  51.  @Bearjew613  The Irish passport gives a very interesting deal because not only is it an EU passport but it is the only passport which gives you full rights in Britain apart from a British passport. So even in post-Brexit Britain, you have the right to work and vote in the UK with an Irish passport if you want to. On the other hand, if you're not planning to live in the US, I would lose the American passport asap.
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  52. Pakistan permits dual citizenship if it is from a select list of mostly Western countries. India has a blanket ban on dual citizenship.
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  53. Andrew revealing himself as a big spender! haha
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  54. Indian government also says that if you earn over $18200 in Indian income, and you live abroad, you need to prove which country you're a tax resident of. If you are not a tax resident of any country, you will be considered a tax resident of India.
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  55. You haven't said anything about St. Lucia, Grenada, Dominica and St. Vincent and the Grenadines. How do those compare with each other and why choose one over another.
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  56.  @matpk  Look I live in Hong Kong and I'm not very happy about what's happened here but when I look objectively at the place, I'm a foreigner who is not into politics. I don't make public statements about the regime. How has my life changed? I'd prefer if it were freer but it's still a nice place to live. A unique city.
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  57. LOL they linked an article for Spain not Saipan
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  58. Which country do you live in and which citizenships do you have?
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  59. Andrew doesn't talk a lot about India also because he doesn't really know how to help people move to India. It's not that easy for foreigners who aren't of Indian descent.
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  60. 9% tax in the UAE can apply to a free zone if that 9% is not considered qualifying income. If a company is formed just for the purpose of holding assets like securities, that is considered to be qualifying income.
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  61. If you have immigrant parents, get their citizenship first. If you don't then spend a minimum of 100K for caribbean.
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  62. This question just became relevant for me today.
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  63. If you're legit, getting a visa is not actually that difficult.
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  64. If you keep US citizenship with Israel citizenship, you can still travel to Malaysia but if you renounce US citizenship, then you will need a different citizenship to enter Malaysia with. Get a Caribbean passport then. Most people aren't actually going to renounce US citizenship as much as Andrew recommends doing that.
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  65. For a German citizen, what does Malta bring to the table for him?
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  66. This is actually a downside of dual citizenship. Your citizenship can be revoked. If you are a citizen of only one country, under the principle of not rendering someone stateless, your citizenship cannot be revoked. That's why Shamima Begum had her citizenship revoked, because they claimed she was a Bangladeshi citizen as well.
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  67. As a US citizen, many overseas banks will just shun your business. And even if you do open one, FATCA will report your accounts to the US anyway. So the only attraction to open an overseas bank account is if you feel like you will earn better interest.
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  68.  @1queijocas  The simple thumb rule is, if you're eligible, get it. No reason not to.
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  69. Given that Ireland isn't in Schengen, will they know you left Ireland if you leave through the UK? There are no border controls between Ireland and the UK.
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  70. It's a decision of a lifetime. Just remember that.
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  71. He probably will soon. Although I noticed that this rule does not apply to free zone companies and there will still be no income tax, meaning that you can just pay yourself big salaries and avoid 9% corporate tax that way.
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  72. Could have had a good 28 years there.
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  73. India is basically saying the same thing as well. Just very slight differences. India says that if you have a taxable income in India of over $18,200, then unless you can prove that you are a tax resident of another country, you will be deemed a tax resident of India.
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  74. You don't need a caribbean passport with that combination. What purpose would it serve?
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  75. You're so South African that you're quoting lines from the American movie Blood Diamond?
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  76. 500g of weed is no small quantity
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  77. India has many good private hospitals too at a cheaper price point.
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  78. You should get an interview with Dave Ramsey. That would be interesting.
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  79. Looks like some Dave Ramsey here
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  80. You can become a millionaire by being an employee. You just have to keep saving an investing. Plenty of such people appear on the Dave Ramsey show also and none of them are businesspeople.
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  81. The passport gives you options mate, it's not necessary that you must live in the UK if you get the passport. Right now, the debate is just about "to get or not to get the passport".
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  82.  @Claxiux  Singapore banks are good as long as you can maintain an account balance. Hong Kong accounts are fine too. Jersey could be worth it too.
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  83. Hong Kong has the highest life expectancy, and it is in China.
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  84.  @indidesitourer585  Yes that is correct. If you live abroad and you want to change your citizenship, you can try to get citizenship in the country of residence or if that is not an option, go for a Caribbean country. Then you must renounce Indian citizenship after you get it and then get an OCI card which is lifetime unlimited travel and permission to live and work in India. If you want to continue living in India but you want to change your citizenship, there are some reasons you may want to do this: 1. More visa free travel to countries than the Indian passport. 2. More residence options 3. A chance to escape India in case something goes wrong.
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  85.  @Madronaxyz  He probably paid more in his lifetime than you ever did.
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  86. ​ @chucky387y  Hong Kong is an amazing place to live if you have money and couldn't give a fuck about political freedoms. Which is essentially the target market of this channel. 1. Have money, 2. Don't care about politics so are willing to move anywhere you're treated best.
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  87. within 2 sq km? how much nature?
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  88.  @svensulzmann4282  Please also remember that both countries are conscription countries meaning that both have armies that are half decent as well.
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  89. Hong Kong is lovely for families too as long as you have a good business or high paying job. Great activities, beaches, hikes, facilities etc.
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  90. The only thing that Biden will do is virtue signal about how many women, people of colour, LGBTQ+ are in in his cabinet. When asked about the Gamestop issue, Jen Psaki said, "We have the first female treasury secretary".
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  91.  @mrscuteas  If you're eligible for another citizenship while maintaining your own and you leave it on the table, it's frankly really stupid.
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  92. Basically, it varies case to case so study your own situation carefully.
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  93.  @ManPursueExcellence  The first thing to do is check whether your ancestry can get you a passport. If not, then buy a Caribbean passport and move to somewhere like Panama. Consider Puerto Rico for certain types of income too. You don't need to renounce for that.
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  94. The channel has plenty to learn from. Andrew's income is from advising high net worth individuals. He won't give you personal advice but he has made this youtube channel for you to learn from.
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  95.  @robertfalconer5054  it's a fusion of USA and USSR
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  96.  @stevenponte6655  Quarantine is part of Australian tradition. You'd be silly if you didn't see that coming. Have you seen how they treat foreign foods?
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  97. Not considered a megacity I think, that's why.
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  98.  @aaronrumfelt7926  sigh, you are not making any sense. What does citizenship have to do with opinions? If you want to live in the Caribbean, you can get a residence permit. You don't need citizenship for that and getting s residence is a lot cheaper. And once you're a resident of a Caribbean country, the local laws of those countries will apply to you anyway. So even if you don't like the speech laws in your own country, once a resident in another country, speech laws of your home country no longer apply.
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  99. It's none of your business if he does.
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  100. Hendersons in England could also just be migrants from Scotland. After all they joined with England in 1707. Lots of Hendersons in Northern Ireland as well because there were many Scottish and English planters who went there.
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  101. I don't think Pakistan is worried. They have no economy to speak of.
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  102. I don't see a huge number of people going to live in India but they should.
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  103. As long as you don't have a US or Eritrean passport, other passports are fine, no need to get another one unless you are naturally eligible or maybe you need a new passport to improve your lifestyle.
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  104.  @bulldogrocks  You can mould your policy so that new migrants don't get much in terms of state benefits but the taxation should be the same.
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  105. Georgia has 2 blue senators now too.
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  106.  @infinite1483  Agreed. Wealthy people use the internet too lol.
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  107. The last place he mentioned was Sark
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  108.  @davelawson2564  I know 24 other letters of the alphabet too? Shall I tell you?
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  109. The US is not that safe but it's a little disingenuous to say that Australia isn't safe. It's quite safe. Yes there are some safer places than even Australia but Australia is pretty darn safe too.
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  110. Indians today need to wait a lifetime to get a green card due to the huge applicant pool.
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  111. Georgia almost certainly.
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  112.  @chucky387y  Again, the quality of life is not for ordinary people. That's not who this channel is targeting. This channel is targeting 7 and 8 figure entrepreneurs. Hong Kong is a very nice place for them.
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  113. Japan is a pretty good passport too.
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  114. Singapore and Hong Kong still have some of the best tax systems for places with tax (of course zero tax jurisdictions like UAE are even simpler).
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  115. ​ @barackthecomposer6642  Democrats are not serious about taxes. In Sweden, the marginal tax rate on an income of $60000 is 52% and only around 27% in America. So essentially their tax plan is a virtue signal that they're going to get the rich!
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  116. Stay and fight hahaha
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  117.  @globalbridges8570  hahaha, that's just crazy talk.
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  118. Retroactive taxes are possible, especially on companies. You should give the example of Vodafone and Cairn Energy in India. Pathetic overreach by the government. Even though a right-wing government is in power, they're still pursuing issues from the days of the left wing. Now, one more thing the government does is that when new rules are announced, they apply it to all the previous months of the ongoing financial year so you could be doing something perfectly legal and your entire tax situation could change one month before the next financial year when the government decides to apply the rule to the ongoing year.
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  119. ​ @stevemyers2092  You're someone who doesn't know how a US or Canadian tourist visa works. The US tourist visa is granted for 10 years and if your passport expires, you may continue to use the visa from the old passport. The Canadian tourist visa is granted for the exact duration of your passport's validity. So if it is valid for 9 more years, it will be 9 years and if it is valid for 4 more years, it will be 4 years.
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  120. Many people say that the ATO is worse than the IRS.
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  121. How do Russian Armenians feel about Turkey?
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  122. Port Elizabeth is now Gqeberha. Literally happened a few weeks ago.
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  123. The way they use parentheses in small print to qualify what they are saying (because the headlines are designed to wind people up) is pathetically dishonest.
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  124. You missed the point. He's not necessarily saying that he needed a tax cut since he has strategies to pay little US tax living overseas, he's saying that people in the higher income brackets didn't get a tax cut either. And the second point is that he lives overseas, why should he pay taxes to America? No other country does this (except Eritrea).
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  125. Yeah like the story of some industrialists
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  126. Yes, you don't have to live there. You can go and even leave Israel before the 90 day period required for citizenship and then get your citizenship.
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  127.  @Imhim247  No idea about them. But usually US banks with branches overseas, like Citibank, are typically the easiest.
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  128. HSBC has actually improved a lot, on the digital side for its retail customers. Very few things you need to call them for anymore.
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  129.  @pranu1412  Typically 10 years of lawful residence and fluency in French, German or Italian.
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  130. As much as people whine and mope, frankly most people will not end up leaving America, which is a shame because there's much to learn, do and gain in the rest of the world.
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  131.  @johng4093  He also admits that he has a protestant mentality and ethic. That's sort of where Dave Ramsey comes from as well.
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  132. Good luck. The US is impossible to radically change.
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  133.  @marcor5886  Yes you are right but this channel mostly targets Americans.
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  134.  @good4u702  If you're really interested to go to India as a 70 year old, my recommendation would probably be Kerala. If you want to go somewhere besides India, there are loads of options.
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  135. It's not typically very easy to move to so Andrew doesn't tend to talk about them. There's a good investment opportunity in India but Andrew's business is more about where you can move to.
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  136. @Deborah Hearne That is literally not true. It's a baseless allegation going on with no evidence. But anyway, let the case finish in court.
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  137. The first thing to do is check whether your ancestry can get you a passport. If not, then buy a Caribbean passport and move to somwhere like Panama. Consider Puerto Rico for certain types of income too. You don't need to renounce for that.
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  138. One word, Mauritius.
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  139. Why should any resident be taxed differently? And why should a non-resident be taxed on income they didn't earn in Canada?
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  140.  @davelawson2564  Read my sentence again. I am talking specifically about claiming UAE tax residency if you are trying to claim treaty benefits with India. You haven't understood.
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  141. The US is actually too easy to open an account in. The only time it is difficult is if you are just a foreign tourist and you want to convince them to open it.
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  142. You still celebrate US holidays?
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  143.  @fivegkills6111  Remember, we are talking about Hong Kong, which is part of China but a different jurisdiction, especially from a banking point of view.
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  144. In India, retroactive taxation is real life.
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  145. Some luxury purses from Chanel and Hermes have appreciated a lot!
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  146. Don't go to England. The people are gloomy, envious and pessimistic as fuck.
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  147. LOL, joke some more.
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  148. There's no secret about it. All the youtubers go gaga over Malaysia
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  149. You can look into Turkey.
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  150. It's just like how Detroit is unsafe but Irvine, California is super safe.
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  151. ​ @andrewhenley2161  That's not true... What you are saying is wrong. It is not a wealth tax. It is a capital gains tax... If you have accumulated your net worth as a pure result of ordinary income and your taxes are fully paid, you won't owe anything further because there is no capital gain. Suppose you have earned 5 million in ordinary income, you've already paid the income taxes on that. But let's say you have not invested anything at all except for your home. Let's say you bought a home for 500K and it is now worth 900K. Let's say your net worth is the 5 million you earned plus the value of the house at 900K, you don't pay the exit tax on 5.9 million. You will only pay the exit tax on an unrealized capital gain which will be 400K, which is the increase in the value of the property. So only 400K is taxed. Not 5.9 million. I'm really sorry but you've got it wrong. And you keep saying it is 40%. That's just not true. As of now, it is not 40%.
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  152. On paper, yes. Practically speaking, it's not such a popular place.
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  153. So what's stopping you leaving again.
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  154. Australia has always been the escape. South Africa was not as attractive.
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  155. Bangladesh has a very small and illiquid equities market.
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  156. Andrew, why would you pick the UK over Ireland as an English speaking country. Interested to know.
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  157. I think the UK is interested in attracting new startups and companies as an alternate to America.
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  158.  @Global-livingg  If banks see that you're born in the US, they will automatically assume you're a US citizen, unless you show them proof of renunciation. So you should always keep that handy.
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  159.  @huwhitecavebeast1972  No lol. You clearly haven't watched this channel much. If you are an American, the US government forces overseas banks to keep reporting your accounts and how much the accounts have in assets to them. This is because of FATCA. This is a compliance nightmare so instead the banks just prefer not to have US clients.
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  160. South Africa is a joke of a country with a bad future trajectory. The BRICS should kick them out ASAP and add Indonesia instead.
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  161.  @rohitsengupta6822  By the way, I've lived overseas my whole life as well but I've retained my Indian citizenship.
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  162. Even the US has not signed CRS but makes everyone report FATCA to it.
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  163.  @SanjayAroraIN  If you are a foreign passport holder with an OCI card living in India for 119 days or less, you will be taxed only on your Indian source income and not foreign income. If your Indian sourced income is below 15 lakhs, you can live in India for 182 days with no tax on foreign sourced income. HOWEVER, if you are an Indian citizen living overseas, if your taxable income is above 15 lakhs, you will also need to provide a tax residence certificate of your country of residence, otherwise once again, you'll be liable to pay tax on worldwide income.
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  164. Visas are not that easy to get for HK. It's a good place to structure a company.
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  165.  @chrish.4891  Depends if their home country even has a capital gains tax. But no American taxes are due!
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  166. Because those people can pay. Isn't it obvious?
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  167.  @ADanielle18  I don't have much to say to you other than this is the wrong channel for you.
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  168.  @ADanielle18  Whatever floats your boat, miss.
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  169. Quite a few european countries have it. But there could be good european options other than Italy's lump sum tax too.
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  170.  @ManPursueExcellence  I have no idea what your ancestry is BUT think about your ancestors and their countries of origin. So parents, grandparents (4 of them), great-grandparents (8 of them). Not always but in many cases potentially you may find yourself a citizenship of another country. If you're trying to leave America because you don't like it, there's many places to go but if you're trying to reduce your tax rates, then you have to be careful about the strategies you are going to use to do it. And also consider what type of income you plan to make overseas, whether its through work or some kind of physical or online business.
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  171. I can only imagine the bill!
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  172.  @nomadcapitalist  It's worth the cost if you can clearly visualise the savings. This works if your income is normally classified as ordinary income. However, not so much if your income is mostly through corporate taxation.
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  173. Just needs the US and Australia!
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  174. Seems to be a very Anglo thing.
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  175.  @AquariumRuss  His wife is of Armenian origin
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  176. Indian law doesn't allow dual citizenship in any case. So I'm not sure how this would work.
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  177.  @aaronrumfelt7926  A citizenship is not "tax friendly". Tax is based on residence. So if he wants to live in a Caribbean country, he just needs residence, not the citizenship. Btw Hong Kong is quite tax friendly and he already is a permanent resident. I am a permanent resident of Hong Kong too.
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  178. I was a businessman doing business
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  179.  @bengmelea8646  I believe it does.
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  180. This is beyond stupid
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  181.  @Topknot60  Yes but the reason she could even lose her citizenship in the first place is because they considered her to be a Bangladeshi citizen under Bangladeshi law. They have tried to revoke citizenships of British Bangladeshis above 21 but were rejected by the courts.
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  182.  Belltown Daisy  You cannot revoke citizenship unless you can claim that someone has another citizenship. Had I been in her position and committed the exact same crime, my passport would not have been revoked and hers was. Only because she was eligible for dual citizenship. Another man called Jack Letts had the same thing happen to him. He was eligible for Canadian citizenship so Britain revoked his citizenship.
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  183.  @anonymousdonor8084  If you're not Indian, you won't get it.
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  184. How can nomad capitalists come to London when the UK has a very restrictive immigration policy and Farage wants to continue it? At least they should have good policies to attract talent while restricting undesirable immigration.
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  185.  @kongphooey7230  A business trip is not the same as attracting talent to live and work to build UK businesses.
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  186.  @MegaBallPowerBall  I've read the opposite in multiple sources but I could be wrong.
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  187.  @rantg  The rich use social media and youtube too.
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  188. If the Democrats had won the senate in the way they wanted to and won additional house seats, there would be no negotiation. This was genuinely their plan.
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  189. Not that easily.
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  190.  @dbanks128  Take what Biden is doing now. Raising taxes on the rich but giving tax breaks to the middle class. The issue with this is that the revenue they will raise from the rich will dwarf the revenue lost from the middle class tax break. Hence, the deficit will widen.
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  191. There's a decent chance that the US will repeal its VWP if Bahamas starts citizenship by investment.
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  192. If you live in India, you get a driver. Usually, they'll work for you from day to early night. And then they go home or to accomodation you may have for them. If you want them to stay longer, they can but for a little extra.
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  193.  @wajihbec1087  This is mainly targeted at people in the US, not Malaysia for example.
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  194.  @AskAkseli  Yes but then he would have to have in depth knowledge of the Indian market or at least know someone with in depth knowledge who can bring those clients in. From my experience, I can tell you that a White American man bringing overseas Indian clients to Indian investments is not something that's going to work. In fact, many organisations overseas have Indian origin employees for this exact purpose. There's a degree of comfort that Indians have with working and interacting with other Indians despite the fact that those overseas Indians may speak English very well. For instance, if you have an OCI card, I myself would know how to guide someone through the process to invest in India as an NRI myself. Largely the same but the only difference is citizenship.
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  195. If you want to move from India and your Indian taxable income is above 15 lakhs, then you must live outside of India for at least 245 days a year. Furthermore, you need to show evidence of tax residence of another country, meaning that you must satisfy the residency rules of that country to be a tax resident and obtain a tax resident certificate which may be demanded if your file has an enquiry by an assessing officer.
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  196. Been waiting for this video for a while.
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  197. If you have a family business, one way to get the next generation prepared is to groom them into a leadership role by taking a bottom up approach. So your kid would start understanding the work at the lowest rank and move up gradually so that he/she understands each aspect of the business and also understands the subordinate roles and what each of their responsibilities and tasks look like.
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  198.  @akshaygm6449  What misinformation did I spread?
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  199. 140 billionaires and counting...
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  200.  @V0YAG3R  While you can make such statements. Beijing's new actions in Hong Kong barely means a thing for money in Hong Kong banks. Even Andrew would testify to that. Unless you have beef with the Chinese government, which nomads who follow Andrew's principles do not, not one thing can happen to you.
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  201. ​ @huwhitecavebeast1972  Jews weren't kicked of India? Why? Because India has Hindus not the other intolerant Abrahamics.
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  202. Switzerland signed up to CRS. Ironically, if you're a foreign citizen, it's safer to keep your money in the United States as it won't report your assets to your home country.
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  203. Why did you think that you will all be millionaires? Were you that stupid?
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  204. Can you find any of your 4 grandparents born on the island of Ireland?
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  205.  @hernandayolearyallda  All depends on how you justify it.
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  206. ​ @marting.4465  Just ask how much money Patrice Cullors gave from BLM funding. Instead, see how much she's stolen.
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  207. Imagine how overpopulated India is!
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  208. ​ @hmmm....1910  You can have 10 citizenships of other countries and OCI of India. Why not? But remember, you cannot be a citizen of India if you take even 1 citizenship overseas.
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  209.  @KennethITGuru  Ahh the old, "there's nowhere you can go, America is the best place".
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  210. How come you didn't mention Cathay Pacific? Your thoughts?
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  211. He's been to India before. Not sure how recent.
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  212.  @dragosdiaconu629  Yes, I know this space quite well myself now and he mentions a lot of key issues in his videos and nuance that shows clearly that he's the real deal. But yes, it'll cost you for what he does because his specialty is handholding for people who don't have the time do DIY.
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  213.  @ashmoleproductions5407  It's perfectly enforceable. If someone does not declare income, that's a different issue. Just on that point, the government in India takes a lot of taxes from you in advance and if your liability is lower than the advance tax you paid, you have to file in order to get the refund. But the point is this, suppose you are an Indian living in Dubai or doing a trifecta method and you also declare a taxable Indian income of $18200 or more, then the government will demand that you show a tax resident certificate for the UAE. If you do a trifecta method and then are unable to show a tax resident certificate for any country, then India will say that they want to tax your global income, which will be a big mess for you.
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  214. Disruption is important when there is a long outstanding problem. For example, people are dying for years and years to have a better model to purchase real estate where sellers and buyers can enjoy more seamless interactions without brokers/agents in the middle.
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  215. No, this is the sort of tax that doesn't go away even if you change governments. Pretty sure about that!
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  216. Does it take 8 months regardless of option 1, 2 and 3?
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  217. The exit tax is not 40% presently. It only exists if your net worth is over $2m or if your annual tax is $180K/year for the last 5 years.
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  218.  @andrewhenley2161  The exit tax isn't 40%. It is the current capital gains rate and it will only apply if you have some unrealized capital gains. If you just have accumulated income but not gains, it doesn't really apply to that.
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  219.  @nomadnomad8571  If you have accumulated your net worth as a pure result of ordinary income and your taxes are fully paid, you won't owe anything further because there is no capital gain. Suppose you have earned 5 million in ordinary income, you've already paid the income taxes on that. But let's say you have not invested anything at all except for your home. Let's say you bought a home for 500K and it is now worth 900K. Let's say your net worth is the 5 million you earned plus the value of the house at 900K, you don't pay the exit tax on 5.9 million. You will only pay the exit tax on an unrealized capital gain which will be 400K, which is the increase in the value of the property. So only 400K is taxed. Not 5.9 million.
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  220.  @fillername458  Where are you thinking, and why?
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  221. Also, taxes are not low in Pakistan.
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  222.  @abukahertanim437 Although the Bangladesh economy is bigger, I believe Pakistan has a larger equities market.
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  223. Not sure how London or Dublin is saving taxes because if it were that simple, I think a lot of people would be happy there.
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  224.  @adsupermusone8875  It's not a rule but generally speaking, banks aren't super keen on taking small accounts from overseas because they just don't see the benefit to them. If you're American, no one wants to open your account in Hong Kong except for Citibank.
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  225.  @saifalarabi4491  For personal accounts it is not that common for something like this to happen. It's smooth to use and as long as there aren't too many weird transactions. Things differ if you're American. Overseas banks just don't like Americans.
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  226.  @saifalarabi4491  If you have an account there in good standing and you talk to your relationship manager, they will be happy because the bigger the account, the less they will want to close the account.
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  227.  @elzoog  I don't understand your question.
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  228.  @elzoog  Chinese exchange controls may prevent that if it is in mainland China.
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  229.  @nickbali1534  Well if you choose the branches you go to, the queues may not be that long. If you go to private sector banks instead of government owned banks, service will be better. It sounds like you were in India some time back but I believe that there have been some changes since that make it better.
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  230. Mauritius. $1500/mo makes you eligible.
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  231. As long as you LIVE in India, you will be considered a resident, even as a foreign passport holder and hence, you are expected to pay tax on worldwide income, not just Indian source. If you only want to pay tax on Indian source income, you must be an NRI or OCI living in India for a maximum of 119 days IF your taxable Indian income is above 15 lakhs. Any longer than that and you will be liable to pay worldwide tax. Remember one more thing that if you are an Indian citizen living overseas, if your taxable income is above 15 lakhs, you will also need to provide a tax residence certificate of your country of residence, otherwise once again, you'll be liable to pay tax on worldwide income.
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  232.  @jeremyleonbarlow  But Cayman Islands, BVI and Labuan lack the respect the UAE does and also the UAE is much more generous in granting tax residency to those companies incorporated in their borders.
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  233.  @milofonbil  Then your kids will pay the inheritance tax.
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  234. You have options but not much time.
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  235. The answer is literally no different for Bangladeshis. He didn't mention Bangladesh but the video content would be the same.
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  236. Welcome to East Asia.
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  237. If you are in a riding where the Tories have any chance, voting for the PPC is a smart way to punish yourself for another 5 years.
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  238. Foreigners can't buy real estate in India unless they are of Indian descent.
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  239. But how much did Bitcoin go up before its retracement?
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  240. Switching drivers sides is not hard. Just takes 30 minutes to get used and keep reminding yourself to stay left.
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  241. Very silly to leave an opportunity to get a citizenship especially if you're eligible for it.
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  242. Have you EVER been to the UAE? No. You'll know how stupid what you wrote is after you visit.
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  243. Britain can only take away your passport if you are a dual citizen. If you are not a citizen of or eligible to be a citizen of anywhere else, they can't take it away.
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  244.  @ManPursueExcellence  Expenses are a factor of living costs in various countries. If you generally want to be in the same time zone, then you must live in the Americas. Mexico is good but a little higher tax if full time. Panama is usually more optimal from a tax perspective. Costa Rica too.
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  245. If you have a net worth over $2m, it won't make a difference, you'll have to pay the capital gains tax anyway.
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  246.  @cyoki6155  No. You don't have to sell anything. The way it works is that if you have paid an average of $180K a year in tax for 5 years OR if your net worth is $2M, they will assess you for a capital gains tax on everything you have so they will look at your acquisition cost and the present value and judge how much is to be paid. You don't actually have to sell, they are essentially looking at any unrealized gains and considering your exit from the country as a taxable event for the purpose of capital gains.
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  247. It was never citizenship though.
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  248. You're probably not white or you wouldn't ever be worried about this. The US passport is only important for English teaching when you're not white.
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  249. Hong Kong is honestly fine. Lived there 28 years. Just moved to Dubai for different reasons.
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  250. LOL what does John Lee have to do with it?
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  251. Leaving citizenships you're eligible for off the table especially when you can keep your own one is just plainly silly. And there's no such thing as English or Scottish citizenship. There is only British citizenship.
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  252.  @zzospreyzz55  It's well and good to do that when you're young but when you're settled with a wife and kids, and the kids go to school, it's much easier said than done to be a nomad. Even Andrew moves around less these days I believe.
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  253.  @Jens_Brombach  I don't think that's how tax treaties usually work between countries that both tax global income.
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  254. You can get citizenship in Hong Kong but it means renouncing your old citizenship.
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  255.  @MrGabrielgn  If you keep your head down, although I don't like what the government has done, nothing will happen to you. Only if you want to mess with the government, will something happen.
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  256. Doesn't the HKSAR Passport give all of those countries?
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  257.  @miohoglander6793  Japan does not allow dual citizenship, so you must pick one.
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  258. ​ @eliefosso7215  He wouldn't stop being a US Citizen. He would just also be a British citizen. But he was a natural born US citizen anyway.
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  259.  @CivisCaeliBr  Trump would be eligible. His mother was born in Scotland.
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