What’s happening in Vanuatu right now? Well, Andrew is currently visiting to find out. As he talks with various expats on the island, it becomes obvious that the nomad mindset is changing. People who want to live abroad to hide their money are becoming less and less, especially because governments everywhere are making it a lot harder for them to get away with it. Andrew has always been of the mindset that you should do things legally and use the law to your advantage. Running away from it will only cause you more problems in the end.
Key Takeaways:
Andrew’s Editorial:
[1:35] Andrew is in Vanuatu right now talking to the people living there.
[3:00] There’s a lot going on in this country!
[3:35] Vanuatu is a true tax haven. You can live there and not pay tax!
[4:50] There are two different types of expats on Vanuatu.
[7:35] The offshore/nomad world is dramatically changing and regulations are getting stricter.
[9:35] Hiding your money is getting harder, plus it’s also against the law. Don’t break the law!
[11:15] The strategies will change based on what your end goal is. This is why you need to get clear about what your end goal is.
Interview:
[14:30] What was the spark that made Phil want to become a nomad?
[17:00] Why did Phil choose a career in law?
[20:30] Are you happy chasing the money? Phil wasn’t. So he left the UK and went to Australia.
[26:25] Can you develop the same kind of camaraderie in traditional co-worker/work relationships living as a nomad?
[27:25] How does Phil manage living in a place for two months for work and then saying goodbye?
[29:15] How does Phil define or differentiate between an expat lifestyle vs. nomadic lifestyle?
[31:20] It’s okay to have more than one home base.
[34:45] Phil has noticed that you met surprisingly few people from the U.S., despite the large population.
[36:15] How does Phil manage to work for some big companies like Coca Cola, and not go into their offices?
[39:35] More companies need help bridging the gap and becoming more connected with the world’s up-and-coming markets. There are both positives and negatives to this.
[41:25] As nations begin to grow and adapt bad habits (like using more plastic), can entrepreneurs realistically solve these environmental issues nomadically?
[45:25] Which has a more pro-business mentality? The UK or Australia?
[47:40] How will you create your offshore strategy?
Mentioned in This Episode:
Email: Andrew@NomadCapitalist.com
