A surge in international migration may occur in the future as a result of financial collapse, geopolitical instability, or shifting climate patterns.
For centuries, the global elite has possessed the knowledge and asset planning to transcend national borders and become international citizens.
They pursue favorable tax jurisdictions and routes of departure if the economic or political situation in their home countries deteriorates. Nomad Capitalist, a tax strategy and immigration advisory firm, imparts this knowledge to crypto investors.
At the Bitcoin 2024 conference in Nashville, Tennessee, Javier Correra, a research and development associate for Nomad Capitalist, and Gearoid Cox, the company’s client relations director, engaged in a conversation with Cointelegraph’s Sam Bourgi to explain how the company assists individuals who are in quest of more promising opportunities.
International “insurance” policies and taxes
They clarified that many of Nomad Capital’s clientele are crypto users. Cox stated that many crypto investors are “new money,” having amassed their wealth through the ownership of small businesses or the investment of digital assets.
They are now attempting to “optimize their tax structures.” To achieve this, Nomad Capitalist offers individuals a customized tax strategy, legal firms compatible with cryptocurrency, and crypto-friendly institutions. Correra clarified that the solution to alleviating tax burdens may be to relocate to a foreign jurisdiction:
“In many cases, people in the West tend to overlook the fact that the West might be great for certain things, but there are great options that are beyond your borders, right? So Latin America, Southeast Asia, even Africa might be right for the right kind of person.”
Correra elaborated on his remarks, asserting, “I believe that Nomad Capitalist functions as an insurance policy for many individuals.”
He also acknowledged that not all clients were interested in relocating immediately but sought a “plan B” if the sociopolitical situation in their home countries deteriorated later. Cox summarized the ethos of Nomad Capitalist earlier in the interview:
“We believe in going where you’re treated best, which is our slogan, and putting the right foundations in place for you to springboard off and have the lifestyle that you want and pay the taxes that are fair to you.”
The couple also disclosed that other Nomad Capitalist clients were interested in traveling the world as digital nomads and bringing their wealth or maximizing their retirement funds in countries with a reduced cost of living.
The Thai government introduced a new “digital nomad visa” in May 2024, enabling remote laborers to extend their stay by 365 days.
In July 2024, the Unbound Fund announced that investors may qualify for Portrugal’s Golden Visa program by investing $500,000 in Bitcoin into the fund, potentially granting them European Union citizenship.
The complete interview between Nomad Capitalist and Sam Bourgi is available on Cointelegraph’s YouTube channel.
