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

  1. ​ @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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  2. On paper, yes. Practically speaking, it's not such a popular place.
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  3. So what's stopping you leaving again.
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  4. Australia has always been the escape. South Africa was not as attractive.
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  5. Bangladesh has a very small and illiquid equities market.
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  6. Andrew, why would you pick the UK over Ireland as an English speaking country. Interested to know.
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  7. I think the UK is interested in attracting new startups and companies as an alternate to America.
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  8.  @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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  9.  @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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  10. 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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  11.  @rohitsengupta6822  By the way, I've lived overseas my whole life as well but I've retained my Indian citizenship.
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  12. Even the US has not signed CRS but makes everyone report FATCA to it.
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  13.  @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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  14. Visas are not that easy to get for HK. It's a good place to structure a company.
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  15.  @chrish.4891  Depends if their home country even has a capital gains tax. But no American taxes are due!
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  16. Because those people can pay. Isn't it obvious?
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  17.  @ADanielle18  I don't have much to say to you other than this is the wrong channel for you.
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  18.  @ADanielle18  Whatever floats your boat, miss.
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  19. 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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  20.  @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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  21. I can only imagine the bill!
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  22.  @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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  23. Just needs the US and Australia!
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  24. Seems to be a very Anglo thing.
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  25.  @AquariumRuss  His wife is of Armenian origin
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  26. Indian law doesn't allow dual citizenship in any case. So I'm not sure how this would work.
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  27.  @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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  28. I was a businessman doing business
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  29.  @bengmelea8646  I believe it does.
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  30. This is beyond stupid
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  31.  @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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  32.  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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  33.  @anonymousdonor8084  If you're not Indian, you won't get it.
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  34. 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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  35.  @kongphooey7230  A business trip is not the same as attracting talent to live and work to build UK businesses.
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  36.  @MegaBallPowerBall  I've read the opposite in multiple sources but I could be wrong.
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  37.  @rantg  The rich use social media and youtube too.
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  38. 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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  39. Not that easily.
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  40.  @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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  41. There's a decent chance that the US will repeal its VWP if Bahamas starts citizenship by investment.
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  42. 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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  43.  @wajihbec1087  This is mainly targeted at people in the US, not Malaysia for example.
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  44.  @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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  45. 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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  46. Been waiting for this video for a while.
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  47. 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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  48.  @akshaygm6449  What misinformation did I spread?
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  49. 140 billionaires and counting...
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  50.  @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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