Join Daniel Freeman in conversation with Andrew Henderson, founder of Nomad Capitalist and one of the world’s leading advisers on international tax planning and strategic relocation for high net worth individuals.
Wow, a very insightful interview. A relocation program for millionaires and those with money who want to move to a lower tax higher life style country is a growing business it seems. Andrew has obviously had real financial benefits from his own departure from the US/Canada borders.
This movement if work play and money is a contributing factor to most western problems. Their ability to relocate with money and not be penalised for it is astonishing. Of course countries like Georgia, Italy and Greece have their reasons to want or need bulk sums deposited in their countries. Others like Dubai or Malaysia Poland and the like may have a slightly different reason but, they attract wealthy potential investors with cheap taxes for sure. But is it going any good?
To the individual yes. Maybe they are living better lives paying less tax while the chosen country gets a slice of their money and a bigger slice deposited in their countries banks. For their Bankers to invest or pay themselves vast sums for the privilege of lending it to the hard working people of that chosen country to work to create that position. But us it right? Is it fair? And is it democratic?
I’m not convinced it is. What we sees explained quite frighteningly is the prospect snd idea of a nomad group of so called wealth creators leapfrogging around the globe trying to avoid tax and withholding money from the very people who created it for those wealth takers. It smacks of the rich getting do rich because the poor are so poorer from the rich ‘taking’ money once but again when they leave for another destination. This is not only wrong but unfair and undemocratic.
Don’t get me wrong, if you are an Andrew or a Dubai expat who wants to work there with money for money and pay little tax for s great life, that’s a great choice. But, what these wealth creators are doing is taking away their wealth creation ability along with the money needed by those wealth providers who provided them with their money to take to Dubai! Whilst reducing the pot of money in the originating country. This is indicative of the problem and highlights the insane stupidity that successive governments have shown us for decades now. That they allow it to happen!
Why do governments allow money, our money to be taken abroad, by the few minority, to be enjoyed elsewhere making the majority at home devoid of its use? My issue isn’t that I begrudge those millionaires the enjoyment of having and earning that money, no. It’s that those millionaires don’t see it right to SPEND it back with the very people who supplied them with it in the first place! That’s my gripe.
Look. Our country the UK has been underfunded for years. Not just our successive governments but our people too! I firmly believe that my own efforts over decades have been lowly rewarded. I think my wages and earnings should have been much more! As I think more if our money should have been SPENT in our country during that time which could have provided us all with bigger salaries. But because money has been tight for decades now I feel I have not earned as much as I could have otherwise. And one factor is because most of our Sterling Pounds are not either in the UK bring SPENT freely but being kept away from us by those who gave too much of it.
These amounts abroad or in tax havens or unspent in Banks us only bring supplied to us as indebted money to be borrowed. Not returned to us as free money via those SPENDING it back free of debt.
I still can’t for the life of me understand why so many economists can’t see that money had to rotate. The same pounds have to go out and come back in again. To be earned and SPENT in a cycle that goes back and forth.
And if anything makes that cycle stop or slows the flow of money back then the majority get devoid of it!
Despite many who think printing more money is the answer o say this. Inevitably the people have yo have confidence in the currency and fair exchange of money for work. Also buyers here and abroad have to have confidence on the fairness if pricing of work and production here snd across the globe. And look at Zimbabwe and Germany of. the twenties.
Do money has to be a sort of finite amount. Yes it can go up and down a bit as money is printed snd debt is repaid but, when you are talking about trillions them the amount of currency is roughly the same to avoid such conditions as Germany and Zimbabwe.
So yes, there is a finite amount of money in cash coin and digital.
That being so. When vast sums are taken out of the pot by those like you both talk about. Then it’s no surprise or wonder money at home gets short for goodness sake!
It’s not bloody rocket science. It’s basic maths. Start with dim dnd take a lit out and your left with little!
When especially we need a money supply to work with and better its free rather than indebted money to make our own engine work on all cylinders.
It’s money not in our pot that means we earn insufficient amounts, enjoy less and pay insufficient tax sums for our government to work properly. Which leads to mass borrowing by us snd inevitably by our government. And when our government doesn’t earn enough guess what the idiots do? Yes, put up taxes! As it’s simpler than trying to put the system really right.
So guess where we are now? Yes you got it, in such deep debt we are going to fail. And so when I see the likes of Andrew getting rich off selling a lifestyle for the rich that ruins the majorities chances of getting its money back, I put my head in my hands and weep!
The SPENDING of money to each other in the same Country is what creates the glow our government needs for taxation and us for the ability to be paid do we can enjoy SPENDING our hard earned fruits. Anything that stops that or slows the flow or moves it elsewhere is going to put strain on the simple yet fruitful system.
Wow, a very insightful interview. A relocation program for millionaires and those with money who want to move to a lower tax higher life style country is a growing business it seems. Andrew has obviously had real financial benefits from his own departure from the US/Canada borders.
This movement if work play and money is a contributing factor to most western problems. Their ability to relocate with money and not be penalised for it is astonishing. Of course countries like Georgia, Italy and Greece have their reasons to want or need bulk sums deposited in their countries. Others like Dubai or Malaysia Poland and the like may have a slightly different reason but, they attract wealthy potential investors with cheap taxes for sure. But is it going any good?
To the individual yes. Maybe they are living better lives paying less tax while the chosen country gets a slice of their money and a bigger slice deposited in their countries banks. For their Bankers to invest or pay themselves vast sums for the privilege of lending it to the hard working people of that chosen country to work to create that position. But us it right? Is it fair? And is it democratic?
I’m not convinced it is. What we sees explained quite frighteningly is the prospect snd idea of a nomad group of so called wealth creators leapfrogging around the globe trying to avoid tax and withholding money from the very people who created it for those wealth takers. It smacks of the rich getting do rich because the poor are so poorer from the rich ‘taking’ money once but again when they leave for another destination. This is not only wrong but unfair and undemocratic.
Don’t get me wrong, if you are an Andrew or a Dubai expat who wants to work there with money for money and pay little tax for s great life, that’s a great choice. But, what these wealth creators are doing is taking away their wealth creation ability along with the money needed by those wealth providers who provided them with their money to take to Dubai! Whilst reducing the pot of money in the originating country. This is indicative of the problem and highlights the insane stupidity that successive governments have shown us for decades now. That they allow it to happen!
Why do governments allow money, our money to be taken abroad, by the few minority, to be enjoyed elsewhere making the majority at home devoid of its use? My issue isn’t that I begrudge those millionaires the enjoyment of having and earning that money, no. It’s that those millionaires don’t see it right to SPEND it back with the very people who supplied them with it in the first place! That’s my gripe.
Look. Our country the UK has been underfunded for years. Not just our successive governments but our people too! I firmly believe that my own efforts over decades have been lowly rewarded. I think my wages and earnings should have been much more! As I think more if our money should have been SPENT in our country during that time which could have provided us all with bigger salaries. But because money has been tight for decades now I feel I have not earned as much as I could have otherwise. And one factor is because most of our Sterling Pounds are not either in the UK bring SPENT freely but being kept away from us by those who gave too much of it.
These amounts abroad or in tax havens or unspent in Banks us only bring supplied to us as indebted money to be borrowed. Not returned to us as free money via those SPENDING it back free of debt.
I still can’t for the life of me understand why so many economists can’t see that money had to rotate. The same pounds have to go out and come back in again. To be earned and SPENT in a cycle that goes back and forth.
And if anything makes that cycle stop or slows the flow of money back then the majority get devoid of it!
Despite many who think printing more money is the answer o say this. Inevitably the people have yo have confidence in the currency and fair exchange of money for work. Also buyers here and abroad have to have confidence on the fairness if pricing of work and production here snd across the globe. And look at Zimbabwe and Germany of. the twenties.
Do money has to be a sort of finite amount. Yes it can go up and down a bit as money is printed snd debt is repaid but, when you are talking about trillions them the amount of currency is roughly the same to avoid such conditions as Germany and Zimbabwe.
So yes, there is a finite amount of money in cash coin and digital.
That being so. When vast sums are taken out of the pot by those like you both talk about. Then it’s no surprise or wonder money at home gets short for goodness sake!
It’s not bloody rocket science. It’s basic maths. Start with dim dnd take a lit out and your left with little!
When especially we need a money supply to work with and better its free rather than indebted money to make our own engine work on all cylinders.
It’s money not in our pot that means we earn insufficient amounts, enjoy less and pay insufficient tax sums for our government to work properly. Which leads to mass borrowing by us snd inevitably by our government. And when our government doesn’t earn enough guess what the idiots do? Yes, put up taxes! As it’s simpler than trying to put the system really right.
So guess where we are now? Yes you got it, in such deep debt we are going to fail. And so when I see the likes of Andrew getting rich off selling a lifestyle for the rich that ruins the majorities chances of getting its money back, I put my head in my hands and weep!
The SPENDING of money to each other in the same Country is what creates the glow our government needs for taxation and us for the ability to be paid do we can enjoy SPENDING our hard earned fruits. Anything that stops that or slows the flow or moves it elsewhere is going to put strain on the simple yet fruitful system.