Living in one of the best tax-free countries of the world is every entrepreneur's dream, but how to do it?
While there are plenty of countries with no income tax where governments welcome people with money to live freely, actually getting into them is becoming increasingly more difficult.
This is hardly a surprise, seeing that more and more businessmen are looking for ways to pay fewer taxes and even reduce them to 0.
However, there's a glitch of which you need to be aware of and use that knowledge wisely.
If you plan to base your business in one the countries with zero income tax, then you might be considering Kuwait, United Arab Emirates or Saudi Arabia.
Or maybe you're more focused on Bermuda, Caribbean Islands or the Cayman Islands, which offer same perks - you go work there and pay no tax.
But there's always a challenge and with these countries is that they're not particularly open to new foreign entrepreneurs.
So which countries are the excellent flag to plant, and you don't have to wrestle with the circumstances every step of the way?
There are plenty of livable countries that don’t impose income taxes on their residents, and most of them actually have territorial taxes.
The good news here is you can live in Singapore or Hong Kong, make your money offshore and pay no tax for it. It's rather simple - if the income isn't generated in these countries, you won't pay tax for it.
Naturally, you don't want to set up your company in a country where you have to pay territorial tax because then income taxes are inevitable.
Of course, these countries are making it very hard even for high-achieving entrepreneurs to make a base there because they're aware of the value of the freedom they have.
Fortunately, Malaysia, Thailand, Costa Rica, Panama etc. still haven't become as strict as Singapore or Hong Kong, so there's some leeway to take advantage of.
The trick here is to plan carefully, to know what you want and how to get there. It’s all about “going where you’re treated best”.
This is what the Nomad Capitalist and Andrew do best - helping entrepreneurs come up with a strategy that will give clients more freedom and help them save money on taxes.
Finding the best tax-free country for you requires experience and attention to details, and having professionals help you will make a world of difference.
Did you explore tax-free countries? Do you know where you want to go? Tell us what you think in the comments.
ABOUT NOMAD CAPITALIST
Andrew Henderson is the world's most sought-after consultant on legal offshore tax reduction, investment immigration, and global citizenship. He works exclusively with six- and seven-figure entrepreneurs and investors who want to "go where they're treated best".
Work with Andrew: http://bit.ly/Nomad-Capitalist-Application
Andrew has spent the last 11 years studying and personally implementing the Nomad Capitalist lifestyle, and has started offshore companies, opened offshore bank accounts, obtained multiple second passports, and purchased real estate in a total of 20 countries.
He has also spent years creating a behavior-based system that helps people get the results they want faster and with less resistance. Andrew believes that everyone can use offshore strategies to keep more of their own money, live a life of freedom, and grow their wealth faster.
About Andrew: http://nomadcapitalist.com/about/andrew-henderson/
Our website: http://www.nomadcapitalist.com
Buy Andrew's book: https://amzn.to/2QKQqR0
DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.