Tom Bodrovics, welcomes back Mikkel Thorup for an updated discussion on the increasing trend of moving and investing offshore due to negative developments in Western Countries like Canada and the USA. Mikkel highlights how political statements from leaders and the media could fuel the desire to leave these countries. He underscored the urgency of having a backup plan, given the potential increases in fees and taxes that could make leaving increasingly expensive.

Mikkel expressed concerns over the rising costs of moving overseas and the increasing investment requirements for obtaining residency in some countries. He acknowledged the appeal of countries with attractive taxation, weather, and good economies. Mikkel advocates for individual freedom and the importance of making good decisions for ones families and investments.

He lauded the efforts of the new presidents of El Salvador and Argentina in turning around their economies through libertarian policies, but remains cautious. Mikkel discusses his appreciation for various cultures, economic drivers, food, water, energy independence, and geopolitics when considering countries for expats.

Italy and Ireland are amongst top countries for individuals with ancestry to apply for citizenship or residency due to their relatively straightforward processes. He shared real-life examples of clients obtaining Italian and Irish citizenship through ancestral connections. Mikkel discussed various aspects of international investment and taxation, including the process of withdrawing investments from Canada or the US without triggering capital gains taxes. How one goes about selling shares, relocating, and purchasing property overseas.

Time Stamp References:
0:00 – Introduction
1:16 – Expat Trends
2:37 – Canada Exit Fees?
5:02 – Moving & Expenses
6:40 – Residency Costs
11:55 – Residency Programs
14:05 – Having a Backup Plan
16:16 – El Salvador & Argentina
22:16 – Attitudes & Lessons
24:28 – Argentina & BRICS
26:40 – Passports & Border Control
30:38 – Panama Residency
33:06 – Mexico Outlook & Economics
37:06 – Western Europe Concerns
40:17 – Passport by Ancestry
43:55 – Citizenship by Invest.
49:00 – Citizenship by Birth
55:10 – Moving Your Investments
58:37 – Wrap Up

Guest Links:
Conference: https://www.expatmoneysummit.com
Website: https://expatmoney.com
Twitter: https://x.com/ThorupMikkel

Mikkel Thorup, is the CEO and founder of Expat Money, and is a renowned expat consultant for high-net-worth individuals. He specializes in tax mitigation, securing second residencies and citizenships, and constructing diverse foreign investment portfolios. Born as an autodidact, Mikkel dropped out of school at 15 and has since lived and traveled extensively across over 110 countries. He’s the author of several best-selling books on expat living and hosts the Expat Money Show podcast. Mikkel founded the Expat International School of Freedom & Entrepreneurship in 2021, an online learning platform for children. A keynote speaker at many international events, he’s also a philanthropist, serving on various boards and supporting a Ugandan non-profit for teen mothers. Mikkel is a devoted husband and father of two, with a passion for travel.