The Safest Low-Tax Countries in Central and South America

Start a lot of nomad capitalists love the idea of living in latin america there are some of the comforts and familiarities of home the time zone is consistent if you're doing business in the u.s or canada it's just a fun place to live but the americas aren't known as one of the safest parts of the world to live in and so if you're looking for both safety and the low tax rates that we talk about here at nomad capitalist there aren't as many options but today i'm going to share with you several that you should be aware of [Music] hi i'm andrew henderson and here at nomad campus we help seven and eight-figure entrepreneurs and investors legally go where you're treated best from lower tax rates second passports new investment markets you can take part in and of course living overseas for a better lifestyle lower cost of living and more personal freedom you can learn more at nomedcapitalist.com now central america and south america are very popular choices for a lot of westerners to move to but again there are two challenges number one people have safety concerns with countries like mexico or colombia which we talk about here and it's true countries like honduras for example have some of the highest murder rates in the world el salvador along with it and so you want to be careful now my position on safety has been that in a lot of places you can find safety by living in the right neighborhood far too often people compare moving from beverly hills to the worst part of bogota for example you know i have a home in bogota i've been to colombia many times all over the country and i've never had any issues i take basic precautions i'm not going to bad parts of town perhaps it is not as safe as tbilisi or singapore but i personally haven't had any issues and i think if you if you create a lifestyle where you live in the right area you can do that in any of these different places now some of the countries in the americas also aren't very tax friendly colombia being one of them at least if you're living there full-time uh and there are exceptions to places like honduras where you can live in the bay islands or nicaragua the only place where i've had a gun in my face you can live in the corn islands you can be removed from the big cities but today i'm going to talk about some of the mainland countries that you might want to consider if you're looking for that latin american living generally speaking outside of the territorial tax countries like panama costa rica most of the tax friendly safe options in the americas are going to be in southern south america okay so we're talking about being relatively isolated from the rest of the world not really any closer from santiago chile to the united states than it would be to pretty much anywhere in europe okay so one country that comes to mind Chile is indeed chile one of the safest countries in the world you can work towards one of the best passports in the world and while tax rates aren't exactly low there and i think they're probably going up in the future there is a three year possibly six year tax holiday for foreigners on all their foreign sourced incomes if you're looking somewhere to live for a while chile's certainly a pretty developed country walking around santiago you might feel like you're in vancouver or some kind of very well-kept city and so particularly if you have a family if you are married not a bad option Paraguay now not so far away from chile relatively safe country in terms of actual safety not sure about the overall perception of the country but paraguay paraguay certainly has a bit of a black market reputation it is a bit off the wall but tax rates there are very low as long as you make a pretty minimal income you can take advantage of 10 percent tax rates in paraguay income that you make outside of the country is generally not taxed not that difficult to get a residence permit although more difficult than it used to be to get a citizenship due to too many people talking about it and so if you want to be off the radar if you want to be off the grid i know people who live in parkway who feel it's very safe and because there aren't really that many tourists there you're not going to see as much tourist related crime so tax friendly place safe place to be certainly not nearly as developed as a chile for example but definitely somewhere that you can check out if you're looking to be a little bit Uruguay off the radar one country that is not talked about nearly enough in my opinion and we'd like to talk about more here is uruguay i know some people from uruguay they all tend to think it's this kind of boring country but it's a country that has a great passport that allows you to get residents through a number of different means they have a new tax residence program where you buy real estate and you don't have to spend that much time per year there and you can use uruguay's your tax residence globally but if you want to live there full time you can take advantage of up to a 10-year tax holiday where you're not going to pay tax on your foreign source income and after that you pay around 12 percent mostly on dividends and interest income what's nice is uruguay is not a fly spec country they have proper tax credits and tax treaties and so you can use that to your advantage to make sure you're not paying double tax very safe country got a lot of coastline a lot of argentine citizens are moving there definitely a place that could be on your radar if you're looking for a place that's again more calm you know seaside environment perhaps you're looking to make an investment somewhere to live not a bad place ecuador is another Ecuador country that people have looked at for residents for citizenship for buying property it was ranked one of the best places to retire a number of years in a row and it definitely is a very affordable place in a very interesting part of the world what ecuador has is a relatively non-violent crime relatively safe perhaps not as safe as chile for example but a relatively safe place a lot of people again who are older go and live there and and really love it and enjoy it generally speaking what you can do in ecuador is take advantage of certain territorial income tax the system is a bit more complicated in that you can't necessarily use uh low tax or zero check tax jurisdictions to run your business but if you have foreign source income and you're paying some kind of tax overseas then generally speaking you don't have to pay again in ecuador so if you're structuring your affairs properly overseas you can pay a little bit of tax and then live in ecuador not to pay additional tax now again there are some other Caribbean Islands interesting options in the americas certainly you can go to some of the islands in the caribbean from the cayman islands to antigua to saint kitts and nevis anguilla which is a british overseas territory has the tax residence program very low tax there these islands i think are generally considered pretty safe especially the more british islands and so if you're looking for the caribbean you can do that as well we also mentioned again the bail islands and the corn islands both pretty tax friendly countries if you structure things correctly if you're looking to be off the grid costa rica certainly could Costa Rica be a country in central america that if you're living in outside of the capital city perhaps in some of the beach areas tamarindo yucca beach could be interesting to consider they have pretty tax friendly policies as well i don't think really any of the central american capital cities i would call very safe Panama panama city definitely an exception tax friendly panama city although not perhaps the safest place in the world so these are some places where you can consider in the americas if you're looking to live again in that time zone and that culture not as many options for just outright tax-free as you can see you're relying sometimes more on tax holidays but if you like that part of the world those are definitely some you should consider how can nomad accomplice help you four ways number one subscribe to our channel and click the notification bell to make sure you get our new video every day number two get a copy of nomad capitalist the book you'll learn a lot of my personal experiences over a dozen years of studying this stuff as well as exactly some of the strategies that you can use to build your nomad capitalist plan number three if you're not sure where to start but you want to come and learn from my team and i you want to come and mingle with like-minded people learn more about our live conference nomad capitalist live it's coming up soon and number four if you want some help right now because you've got a burning issue you need something solved you want to lower your taxes get a second passport or build the nomad capitalist lifestyle of your dreams go to nomadcapless.com and click on become a client