Nomad Capitalist: Crypto is the New Wealth, Immigration is the New Tax Optimization

Nomad Capitalist: Crypto is the New Wealth, Immigration is the New Tax Optimization

Cryptocurrency and remote work are reshaping the global economy, and that's having a big impact on immigration trends. In an interview with Cointelegraph, Javier Correra, Director of Research for global tax and immigration consulting firm Nomad Capitalist, said that "a good number of our clients are people who are in crypto." He said, "They tell us that crypto represents new money." In this regard, he explained, "The clients who come to us to analyze their immigration options are people who have made their fortunes with digital assets (cryptocurrencies) or small business equity, and who are looking for optimized tax scenarios. In particular, people who have made their fortunes with crypto in Western countries may find that, from a tax perspective, it is opportune to move to places such as Latin America, Southeast Asia and Africa. They also have the right to pay taxes in a fairer way and this is becoming a new trend. Nomad Capitalist is a global tax and immigration consulting firm that helps individuals and businesses navigate the complex world of international tax and immigration law. The firm's clients include a wide range of individuals and businesses, from small startups to large corporations. Correra said that the firm has seen a significant increase in the number of clients who are interested in moving to countries with more favorable tax policies. He said that this is due in part to the rising cost of living in many Western countries, as well as the increasing tax burden on high-net-worth individuals. "People are looking for ways to reduce their tax burden, and one way to do that is to move to a country with a more favorable tax regime," Correra said. He said that the firm has seen a particular increase in the number of clients who are interested in moving to countries in Latin America, Southeast Asia, and Africa. These countries typically have lower tax rates and more favorable immigration policies than Western countries. Correra said that the firm expects the trend of people moving to countries with more favorable tax policies to continue in the years to come. He said that this is due to the rising cost of living and the increasing tax burden on high-net-worth individuals in Western countries.