How to become a global citizen, with or without crypto — Nomad Capitalist

International migration may spike in the future due to geopolitical instability, financial collapse or changes to the climate.

For centuries, the world’s elite have possessed the knowledge and asset planning to transcend national borders and become international citizens, seeking favorable tax jurisdictions and routes of escape should the economic or political situation deteriorate in their home countries. Today, Nomad Capitalist, a tax strategy and immigration advisory firm, brings that knowledge to crypto investors.

Javier Correra, a research and development associate for Nomad Capitalist, and Gearoid Cox, who heads the company’s client relations, sat down with Cointelegraph’s Sam Bourgi at the Bitcoin 2024 conference in Nashville, Tennessee, to explain how the firm helps individuals seeking greener pastures.

Taxes and international “insurance” policies

They explained that crypto users account for a large share of Nomad Capital’s clients. Many crypto investors represent “new money,” Cox said, having made their fortunes off investing in digital assets or small business ownership and seeking to “optimize their tax structures.” Nomad Capitalist provides individuals with a personalized tax strategy, crypto-friendly banks and legal firms to accomplish this. Correra explained that moving to a foreign jurisdiction may be the answer to reducing tax burdens:

“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.”

Related: Bitcoin Beach co-founder claims Bitcoiners want to move families to El Salvador

Correra followed up his comments, saying, “I think that Nomad Capitalist for many people acts like an insurance policy,” noting that not all clients were interested in moving immediately but sought a “plan B” in case the sociopolitical situation in their home countries deteriorates at some point in the future. Earlier in the interview, Cox summed up the ethos of Nomad Capitalist:

“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 pair also explained that other Nomad Capitalist clients were interested in traveling the world as digital nomads and taking their wealth with them or seeking to maximize retirement funds in countries with a lower cost of living.

The world is the digital nomad’s oyster

In May 2024, the government of Thailand announced a new “digital nomad visa” that would allow remote workers to extend their stay by 365 days.

More recently, in July 2024, the Unbound Fund announced that investors may potentially gain European Union citizenship by investing $500,000 in Bitcoin (BTC) into the fund, thereby qualifying for Portrugal’s Golden Visa program.

The full interview between Sam Bourgi and Nomad Capitalist can be found on Cointelegraph’s YouTube page.