084: Rethinking Offshore Investing: Why Americans Should Be Open – Mark Nestmann
Mark Nestmann has a Masters of Law in international tax law. In this interview with Mark Nestmann, they really dive deep on why the Americans have negative views towards offshore investing.
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WHAT WE DISCUSSED IN THIS INTERVIEW:
- Negative View Towards Offshore Investing: US citizens often have negative attitudes about living and doing business overseas due to lack of travel experience and media portrayal of tax evasion.
- Tax Havens: The USA is seen as the largest tax haven due to FACTA and lack of information exchange. Many Americans abroad face higher taxes and banking challenges.
- Living Abroad: Despite higher taxes, many Americans move abroad for unique opportunities and personal reasons. Popular destinations include Canada and Mexico.
- Challenges: Cultural adjustment and logistical challenges are common for Americans relocating abroad.
- Tax Filing: Only a small fraction of Americans abroad file tax returns, raising concerns about tax evasion. Options exist for those who haven’t filed.
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CONCLUSION
My interview with Mark Nestmann from the Nestmann Group was extremely educational. I’ve had several interviews that delve into the topics we discuss, like, why Americans have negative views towards offshore investing and overseas bank accounts. I always find it fascinating how different my guests are and how they explain what they know about these topics. I know you’ll find these topics very helpful in you are an American living overseas.
About The Host, Mikkel Thorup
Mikkel Thorup; the host of The Expat Money Show, has 20+ years in continual travel around the world, visiting more than 100 countries including Colombia, North Korea, Zimbabwe and Iran.
His goal now is to help Expats just like you to generate additional streams of income, eliminate your tax bill, and take advantage of offshore structures so you can travel the world freely and never have to worry about money again.
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