If you are seriously looking to expatriate, there are a few important factors to consider before layering on your cultural and climatic preferences.
It would be completely understandable for any sane person to be thinking about expatriating from the U.S., forming an exit plan as a digital nomad, or even thinking about a destination.
But hold up!
There are quite a few things to think about before you pack up and move out of the United States (even if that move is only temporary).
To begin with, you probably have some assets to protect…
That means you also need to maintain some level of personal and financial privacy…
Plus, you probably don’t want to end up in a “city on fire” like Paris (which is in the middle of some serious political turmoil).
So with that in mind, here are five traits to start your search for a place to live, followed by an easy way to answer the rest of your questions:
Trait #1: Tax friendly laws.
Obviously, a no-tax location would be the best scenario. But since every location around the world gets revenue from taxpayers, it pays to find those locations that tax you the least without encroaching on your lifestyle.
For example…
Since the United States tax code is so complex, and the IRS is becoming a power-hungry juggernaut, it really doesn’t offer much in the way of favorable business tax regulation like it used to.
But oddly, a small country called Liechtenstein has a low tax rate and very favorable tax laws for digital nomads.
Trait #2: Tax benefits.
It might seem like “tax” and “benefits” don’t belong in the same phrase together. For this trait, what you’re really looking for are places that don’t impose a boatload of taxes on digital nomads who are set up correctly to take advantage of the situation.
One example of such a place might be Nevis, which does not impose ANY taxes on income earned outside of its jurisdiction. Thus far, it doesn’t seem like it will in the future, either.
Trait #3: Banking secrecy.
This trait might seem fairly easy to think about at first glance.
But doing your own due diligence is important before taking a bank’s word that they won’t “squawk” when you need them to keep your banking activities and assets private (like, when some nosy government agent comes snooping around).
Swiss banks are just one of a few destinations that fit this criteria, but be careful that you do your homework first.
Trait #4 – Trusts (like Asset Protection Trusts).
To safeguard your assets in a new locale, sometimes a form of a legal trust will be required. This is a complicated legal topic, and beyond the scope of this message.
Just know that the place you might consider moving to might require the use of a trust to keep your assets safe until a later date. Also know that an asset protection trust is a more complex form of trust that “shields” assets from creditors, and might be used depending on your situation.
(Don’t worry, GWP Insiders have access to everything they need to leverage the power of legal trusts properly to safeguard their assets.)
Trait #5: Political stability.
Paris isn’t the only place that is “on fire” right now. I also wouldn’t consider moving anywhere near the border between Russia and Ukraine, for obvious reasons.
But whatever location you choose, make sure the political environment isn’t in upheaval. And if you’re going to move, or get moving as a digital nomad, do so before the U.S. Government makes it impossible to leave.
Of course, if you’re going to become a digital nomad and operate offshore, make sure any location you look into has strong privacy and confidentiality laws. The Cook Islands and Belize are a couple of places to start looking.
Let’s face it, while these five traits can whet your appetite, you probably have a ton of questions that would require 50 pages of reading to answer.
The good news is, there’s an easy way to get ALL of your questions answered…
How to Enjoy Real Freedom as a Digital Nomad Starting TODAY
Living the life of a digital nomad is the most fulfilling and free lifestyle there is. You can live anywhere in the world, and have an instant “exit plan” in case things go south.
Plus, you can keep as much of your income as possible away from tax collectors, and shield your assets from collection while you’re living your dream.
But the question I get asked the most is: “How do I get started?”
The answer is: You can schedule the first in a series of unlimited 1-hour consultations with me when you become a GWP Insider.
In addition to helping you find a secure place for your money, we can work together to reduce your tax burden, reduce costs, and implement any other business and wealth internationalization strategies that make sense for you.
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Even though my clientele is diverse, they’re all facing similar challenges.
They all want to create the right business structure and optimize it for a low-tax multi-jurisdictional approach in different parts of the world (to stay free).
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Then you should join us inside GWP Insiders.
Once you join, you’ll immediately get to schedule your first 1-hour consultation with me. This can be used to discuss your banking situation, ideal locations to live abroad, business structure, or even to make professional introductions for your specific needs.
One consultation would normally cost $445 to $4,000 depending on your situation, but GWP Insiders get unlimited consultations at no charge.
You’ll also gain access to the private membership area, which includes a variety of business, life, and wealth internationalization strategies that give you shortcuts to success with the following:
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- And so much more.
Once you’re a member, you’ll want to immediately download and read the latest edition of my Offshore Banking Report.
Inside this valuable guide you’ll discover safe places to put your money along with my commentary to guide you plus a whole lot more:
- The 9 best licensed offshore banks, plus my commentary on each.
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To live freely is divine,
Bobby Casey
Location Independent Entrepreneur
P.S. Living a truly free lifestyle as a digital nomad who lives in one (or more) locations around the world can appear like a daunting venture. But not for GWP Members.
So once you join, go ahead and bring me your toughest questions about setting up your digital nomad “exit plan,” including exactly what to look for in the best places to live.
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