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[Applause] to start off i'd like to read something it's not something i normally do but i think it's quite apt for this citizens enjoy freedom of speech of the press of assembly and of association citizens enjoy freedom of religious beliefs freedom of the person of citizens is inviable freedom and privacy of correspondence of citizens are protected by law citizens have the right to criticize and make suggestions regarding any state organ these are the words of the constitution of the people's republic of china so it's very interesting for me because i come from such a world where what is written is not necessarily what is enforced and so living here in europe and as paul mentioned now in switzerland it's very common to come across people who say like okay no my data is now secured because of gdpr because of privacy regulations there is a country that shall not be named where if a police officer catches you with even just a small amount of marijuana that officer is allowed to completely ignore the requirement of due process of law take out his gun and shoot you in the head that police officer will then receive a bonus so on one side some people like to take control over just complete ignorance ignoring whatever rules are in place and i come from such a place and so for me just relying on regulations is insufficient and sometimes they even try to modify the regulations with these exemptions that they give themselves in mind in the exact same country last year they have lowered the age of criminal uh responsibility to the age of 12. so police officers can now do that to kids as young as 12. if that's how much they value human life what do you think they value privacy it's not there's nothing for them and so i decided to have this presentation about decentralizing oneself i know it's a little bit it's supposed to be a workshop i usually give more like talks and inspirational speeches this is going to be somewhere some in between because really as the presentation goes on you'll realize that a lot of the things that i'm going to give you are more of like tools and ways to help you understand yourselves better better equip yourself for what's about to become what's about to come it's because at the end of the day it really comes to your preferences as pavel mentioned i've lived in many different countries some of these choices that i've made of where to go were because of restrictions that were given to me as a philippine passport holder i can only enter visa free to 34 different countries around the world that's four more than last year so i guess it's a good thing um but also a lot of it was just because of personal preference as svalbard is in the north pole probably not a lot of people would like to live there so again i'm from the philippines and eventually i've lived in all of these places a lot of it was fairly unintentional uh that flag there again is not norway that's volvard that's where it is again very cold and something was quite interesting as i lived through all of this because i didn't intend to decentralize myself but that's what ended up happening if you look me up online and really try to find my address you will probably find about five to six different official addresses somewhere in these areas somehow i've even managed to get a mailing address to be one of the official addresses that i've had and i realized slowly that you know a lot of these things that have happened to me and unintentionally can be quite beneficial for people that are trying to remain more private other because either because of security reasons you might have somebody trying to come after you especially in the cryptocurrency space especially if um i've received a number of death threats already because i maybe didn't praise the project well enough and so the price went down and they said it's my fault they lost money and things like that or just you know wanting to be more secure and wanting that your information out there is not um that accurate so it's what i like to call hiding in plain sight if you look at my linkedin profile you'll see a crap ton of information i've put a lot of information there about the courses i've taken the universities i've been to even the ones that i didn't finish and that's intentional because then when you look at my profile if you're a government official or somebody who's at the border control a lot of times i actually cite my linkedin profile whenever i try to say like yes i'm an okay person please let me in your country for three days they can see that everything's there and probably at some point they stop looking because they say okay everything's here we can just check it whenever we want to and if you probably have some information out there that's easily accessible but ones that you're fine with having out there you can feel a bit more secure because if somebody would really try to find the truth they're going to have a very very hard time doing it this also applies of course to automated searches and things like that again if you look up my name lots of different addresses lots of different birthdays as well it's amazing to me how many people just put their birthday out there that's one of the key informations to tie back to you for social engineering attacks so one quick tip have numerous different birthdays out there what i like to do i take my favorite musician's birthdays and just put it up there and change the year it works quite well and so yeah decentralization is also a scale i do not have thousands of hundreds of residencies i do not have more than one passport but i still consider myself very decentralized um a lot of people were talking about you know do you feel super at home in switzerland it's like well yes but i also travel around a lot and i think that there's a big misconception also with people says that you must have these different passports these different residencies these different businesses five businesses around the world that's not true do it at your own pace and do it what you're comfortable with and find out exactly what you need and that's what this workshop's gonna be about so one way as i mentioned is citizenships and passports i'm not going to talk about this at all because the minimum price for this is around 125 000 us dollars and honestly if you had that kind of money to just spend you probably are better off hiring a specialist to deal with your personal situation so i'm not going to talk too much about that but that is an option of course nexus residencies i will be talking a little bit about that pavel was actually one of the key information providers other one is business registration connections and lastly knowledge and understanding for knowledge and understanding it's not i would say it's not really the starting step but it's something that you need to do it's amazing to me to meet people and say oh i want to create a company in seychelles without understanding anything about what seychelles is where it even is on the map all they know it costs a couple hundred under a thousand us dollars to set up and have zero understanding let me bring up a case where this kind of really played out in real life so maybe you want to think yeah where should i decentralize myself this is hong kong this is something that i'm sure everyone here and people watching where's the camera up there know about what's going on i'm not i wasn't surprised at all and anyone who properly understood hong kong history would have understood that this was not an if this was a when in 1842 in the treaty of nanking hong kong island was ceded to the united kingdom uh in perpetuity in 1960 the kowloon peninsula and the stone cutters island was also seated in perpetuity so why did the uk have to hand over hong kong a lot of people talk about the 99-year lease none of those were 99-year leases and it's quite complex i'm not going to go over everything but basically the uk tried to negotiate thatcher tried to talk to the chinese government the chinese government said well you know we could just invade and there's nothing really much you could do about it of course there's a lot of other aspects around there where they talked even until the end where they had an argument about how the flag raising and flag dropping were to come forward but this answer is simple i had no choice and if you think about that deeply that in the 80s that a country was just willing to give out something to another country that was saying that hey we're just going to invade you if you don't give it to us this is not that surprising anymore and yet many businesses said like okay yeah i know hong kong's a great place and it was but all of the really good business people i know in hong kong or set up a business there always had an exit plan unfortunately not everyone again it was those people who did not understand and did not spend their time researching and understanding how the country actually operates that well they're entering into some severe issues right now so what to learn quite basic basic history international relations this is something that goes just beyond friendships and treaties and stuff like that you have to think about when you have your data in such a country what are they going to do with it a lot of people have told me oh i don't care if russia has my data i don't care if china has my data which is fine it's fine if that's in your comfort zone that's okay but you ever can consider the possibility of them selling the data to the people that you don't like if you have great but most people haven't if there's something that your enemy wants and your friend has it don't always trust that your friend isn't going to sell it to your enemy of course depending how close you are to them economy how self-sustaining it is whether for example if you're considering that as a getaway place as well um how self-reliant is it on its own and the different cultures of course it's very important to to understand this also in the terms of like you know would having an online conversation work as well as in person i think here in europe that's mostly okay to just have a zoom call or skype call or whatever um but when i'm from in the philippines in south america a lot of these things don't go very well um some countries you really need to even have a meal with a person in order for the deal to be finalized and lastly politics i think that's very self-explanatory so where to learn well there's a lot of really resources out there the two ones that i can recommend are geography now and history matters geography now they have videos ranging from 10 minutes to 25 obviously the larger countries get a larger amount history matters used to be 10 history in 10 minutes or something like that and so a lot of their videos are 10 minutes or less uh highly recommend them actually a lot of the information about the hong kong one i got from a four minute video from them a few months ago i'll have all of my slides available as well by the way so travel also obviously is a very beneficial thing actually going there and understanding how things are yes now it's not the best time but perhaps hopefully sometime in the future you'll be able to do that because it's a great way to build connections so in all of these countries as paval mentioned i've had multiple residencies there's one country here i don't actually have residency in and never did fiji i've only lived there for four months i was there throughout my entire you know permit to stay there without a visa so just a stamp on my passport which is amazing as a philippine passport holder to be able to stay somewhere with just a stamp and i consider that i i did reside there because i know that i can go back there anytime and i'll have very close friends that i can just go back to in the village and stay with them if they need to if i need to sorry and that's one thing i want to point out it's like i don't have a residency there but still i feel a very strong connection the country has a very strong connection to me i have a very good understanding of how fiji works i lived there during the dictatorship i do not recommend that anybody do that i don't that was one of the things that i should have understood before actually going there um at least a little bit more but yeah just frequently going to a place um building good connections in an area can make you very much connected there because you can have a lot of working relationships and this could lead to also having multiple income streams remember decentralizing yourself also is not just in terms of residencies and connections and all of this but also where your money is coming from if all of your money is coming from let's say the one country that you don't really like to be associated with or it's the country that you're from then you might really not get as decentralized as you think you are how to move forward with this especially because you can travel too much one is warm introductions this is an offer that i will have for everybody here in the workshop as well as everyone watching online if there's anybody within my network um i have a large linkedin contact list and i only add them if i've actually spoken with them or have worked with them if you need any introduction to any of those countries or people there please let me know i'd be happy to make that introduction for you but yeah also reach out to your own network and try to see if maybe there's a country that you're interested in that you've done some research and you're interested in actually speaking with somebody from there and trying to get along on a personal and professional basis another one is using the cross-border chambers of commerce i did not think that this existed until this year actually until i found out that there's actually even a swiss paraguayan chamber of commerce in paraguay so it actually helps a lot of people in switzerland who are interested in doing business in paraguay and also just general trade between both countries i don't think there are that many around but try to take a look um if there's place from wherever you're living and wherever you want to go or have a connection to these places are usually quite helpful in terms of driving you information um and even if you want to try to do some volunteering stuff with them they're very much open to it and it's a great way to get some work experience and gain some contacts last one is next one is cross-border associations communities this one is a little bit dependent on whether there's a lot of people from where you're from in that country like for example in the united states in the city of seattle there's actually a swedish cultural center which has then expanded to being really a scandinavian cultural center so if there's anyone from scandinavia here is interested there you could just look that up and yeah get try to get connected that way travel again not too possible right now and last online communities i mean we're right now this conference is partly online and reddit is actually a great way to get the connections and sometimes these actually come in much very handy even if you already have a lot of personal connections so for example uh one of the flags you saw up there was austria and the second time i lived in austria i had a lot of difficulties getting my residence permit and actually being able to go um quick overview it takes five months for them to process the residence permit application after doing that i have to apply for the visa and then i fly in and then i have to collect some papers to get the final card uh so all in all that's about seven months just for me to get a residence permit to be there for more than six months and it was taking too long there were too many problems and i just started a rant on the austrian subreddit and a lawyer reached out to me and he just said i'll help you for free i feel so bad for your situation i've never spoken with this guy he has no idea who i am i haven't been doing this back then and he just did that he went to the immigration office all the time and um accompanied me also when i needed to pick up the card and he just asked me to donate 200 euros to his charity and so i did about 200 euros for all of the help he made he just gave me it was was tremendous i mean i'm not saying that you know rely on such people existing and helping you out all the time but there's actually a significant amount of people who understand the pains of all of this and are willing to lend a helping hand and that's actually how i'm here today i wouldn't have been here uh without the help of many of my friends and just random strangers who might have no idea what their name is and it's really i mean it's up to you how you want to leverage this um a lot of people might feel a bit uncomfortable they don't want it to go too much beyond friendship they want to just keep it that way that's fine having friends is a great thing sometimes again you might consider a place a runaway place so for me some places in the pacific islands are um in some places you don't want to you know have a runaway place but more just like i'm interested in doing business here and maybe setting up a business here in the future something like that and that's really up to what you feel like what you want and your own personal situations which then leads me to business registration there's a big misconception that you must have a product to sell or you need to have a team and that's really not required i mean in my own company right now in my consulting company i'm the only person and it's been quite helpful just having a corporate entity i mean now i live in the country where my corporate entity is set up but it was very helpful when i was a resident of the czech republic and when i was still living in svalbard having an entity in switzerland and not just because it was in switzerland but just having one that wasn't there and one reason is because you can route your employment through your business entity and so if you're concerned about certain things like um over taxation or just things like you know maybe something that you don't want to associate yourself with um my consulting company i've used that to consult for maybe some projects that i didn't have i didn't want to be associated too strongly because i didn't believe in their products so much but of course i was willing to take their money in terms of playing devil's advocate and for me when i was reporting it uh then as a self-employed person all they could see is invoicing my own company and it worked quite well um there's also beneficial i mean not maybe not here in the czech republic but if you're living in a country that does not treat cryptocurrency payments very well and you want to report it for whatever reason maybe immigration or otherwise having it through a company that does the conversion for you is a great way to just get money in and have a very simple tax reporting at the end of the year for you personally so out of 32 countries that i've looked up uh and tried to gather a lot of data on these are the eight that i'm gonna go over just a little bit um i should point out that one ibc has been kind enough to spend a lot of hours with me just trying to go back and forth and answering all of my questions so i have some affiliation with them affinity group gave me all the information about the isle of man also the my logos the logo was missing there but the digital isle of man they've been very helpful in making sure the information has been correct um i have a good contact also at one ibc and affinity and they have both expressed to me that if anybody here has any questions also online i'm i can make the introduction and it's no selling at all is just to share information about these countries i also have the full fact sheets of each of these and i'm happy to send that over i'm not having them on the presentation because there's too much information so the first one i'll go over is bahamas let me just quickly run through this information here so the total cost includes the filing expenses and the legal expenses renewal costs include any of the recurring expenses needed perhaps office registration and things like that local directors some company some countries require that somebody is actually there presently physically sorry and that can just be a proxy director but obviously that's an additional cost um if you have a friend there then that's great annual return so that's for the tax reporting accounts preparation it was a bit strange for me when i first found this out a couple of years ago there are some countries that require you to prepare the accounts but you don't actually have to send it i was told that the reason for this is that if ever there is a government mandated audit then you must have it ready but you actually don't need to be proactive in sharing the information how exactly you keep it it varies from country to country public shareholder records i'm happy to say all of these are pretty much on the no side i wouldn't have included it here uh if it was not um so yeah that's bahamas it's uh very big on tourism it's in the caribbean johnny depp lives there so it's actually has a pirate of the caribbean next is mauritius this one's a little bit more expensive it's a very big place for fintech it's a very multi-ethnic community so if it's actually a country that you're interested in moving into um this could be something that you could consider there's a lot of people who have europe from european descent a lot of asian descent and african descent from here as well and it's the only place in the world where the dodo bird was the native animal um and should point out that here yes the animal tax return you actually do have to um provide it for all of these come for all these countries all foreign sourced income has zero percent taxation for most of them also with capital gains so the nevis uh a lot of people like to think of saint kitts and nevis as one country but it's actually a federation saint kitchen is also a good place to have it but i decided to pick nevis because the costs were significantly lower as you can see there's just 1 500 and 1 400 for monthly uh yearly sorry renewals oh by the way quick disclaimer on the costs um please do als if you are going to move forward with the business creation please do take a look also at the competitors of one ibc i'm not here to to sell them this is just i'm using this just as a benchmark so you might see some other companies that charge higher and some that charge lower and of course you can find out ways to to make it cheaper as well and so yeah here it's pretty much the same it's very fast just three days um if you like mangoes they have 50 different varieties of mangoes but none of them as good as the mango from my hometown of cebu the cayman islands of course that's a very common choice um but as you can see it's very expensive just because of the sheer demand of companies that are people who are looking to set up companies there also is still fairly fast and annual return um is a yes also interestingly yeah the cost difference is not so much different i've seen some companies actually ask for six thousand dollars for this as well but uh those seem to be for more specialist stuff um yeah that's another thing i should point out if you're doing something uh that might require additional licenses these costs um probably throw them out the window if you need more licenses i'm just using this for more standard cases panama is another one that's uh quite interesting i'll be talking a little bit more about this um for the residency part but these are the costs uh through one ipc again mostly nose which is great seychelles what is it there so one of the most popular ones and interestingly um there's a current case um with this company called bitmex so if you're in cryptocurrency trading please you probably know what that is but if you're not it's an exchange that allows you to go up to 100x in leverage so almost like a casino really and i recommend that you follow that case if you're interested in setting up a company in seychelles because it sets up a president in terms of how people get sued if their socially special law company operates in a way that their hometown country does not like actually seychelles has a very positive banking stance now i was very surprised to see that this year i was talking about a variety of banks in switzerland and around europe and i just asked them their opinion on seychelles just out of sheer curiosity and actually they all said that yeah seychelles is not in the blacklist anymore we're happy to onboard seychelles companies actually they considered maltese companies a little bit more on the blacklist rather than safely these companies so they've done a lot on that end and it's still fairly cheap i and most i mean everything is just on a no here and i i would actually give you some urgency if uh if the bitmex case works out well in in their favor and the positive banking stance continues to go forward because i'm assuming the demand for specialist company will go up in the near future so these costs are fairly low right now but they might go up soon bit max mex mex no problem vanuatu is another one that's very very interesting um i actually had my own business in vanuatu as well and just as an experiment also i tried to set up bank accounts for the company uh tried to create cryptocurrency exchange accounts i was able to do that it took six months uh but i was able to do it and um sadly i had to close it because actually vanuatu ended up in the red zone so i can't fully recommend it but i still decided to put it up here because it's still very favorable i should just let you know that it's under scrutiny at the moment and a lot of countries tend to be very hesitant when they see an invoice to a vanuatu company that said if you are planning to have some presence of yourself with your data in the pacific islands it's very hard to set up a company there i would actually recommend for now against having one in fiji because the political instability there is just too great there's been three coups in the last uh 30 years um so it's not very secure in terms of you know what could actually be there um so vanuatu has been fairly stable so that's why i decided to to keep it up here and in general if you have one business in any of the pacific island countries it's easier to do business with other pacific island nations so the isle of man is probably the most expensive out of all of this and has more yeses it's still on the no on the public shareholder records because of the local director requirement the costs are much higher but i decided to put it on here because the blockchain isle of man and the digital isle of man program hosted by their government is actually having relocation programs where they're willing to give a certain amount of money to help you move there if you are interested in moving there that's as long as you provide some sort of like innovative service or have an innovative product so even if you're a consultant actually you don't need to have made something if you can just show that yeah i've consulted a lot of different projects that's even good enough for them to consider you on a specialist visa of course it's still on a case-by-case basis there's also a lot of grants that's there and even though if maybe they're not uh on the swiss level in terms of secrecy which really switzerland's not too big on banking secrecy anymore that's a old-time thing it's uh they still treat uh confidentiality very strongly and they're actually also actively trying to expand beyond just eye gaming so they're very open to having you in the conversation and one nice thing also it's a very small country they are connected to united kingdom of course but they will actually try to consult with you if they feel that you're an expert on a certain topic so you have a way to even influence their government a little bit which can be very beneficial not just for you but if you care for certain causes and things like that could really help out a lot and that's actually one reasons why i uh keep uh in close contact with them so where are these countries singapore i didn't include because uh the costs are very high to set up a company there the tax is low but actually it increases every year until the third year so a lot of companies out there will try to say like oh look at this tax rate in singapore but actually like if you look at the next year it goes up and then the year after goes up and then you're paying standard tax rates probably still lower than many places in europe but not as low as many people think when they get into it and they've already sunk so much money in they just keep it there not all the time but sometimes cyprus i removed because last year they had now the tax of 12.5 um they are in the eu so a lot of the data can be transferred quite easily switzerland um for holding company tax benefits that was last year was the last year that their tax benefits would have existed so actually the the benefits are not too great anymore by having a holding company there um me as a swiss resident actually makes zero sense to have a swiss holding company even so there's so many holding companies being shut down and just dividends being distributed um usa delaware and wyoming are two big countries that a lot of people talk about i'm not including them because of yeah privacy violations numerous uh yeah even if taxes are lower um i'm not saying these countries are bad um definitely if in your own personal situations like if you want to move to the u.s maybe those two states are great to have the company switzerland i mean i live there for a multitude of different reasons and it's still possible to set up a business there and still be able to operate in a very internationally renowned way it's just didn't feel that it was the main thing for this talk right now so important notes um if wherever possible use cryptocurrencies for easier asset transfer setting up a bank account for each of these um company countries it's not the easiest in vanuatu it costs about 25 000 even if you don't do anything that's crazy seychelles is also somewhere between 10 and 20 000 uh depending on your relationship with the bank and in all of the other places because you're not going to be there physically um it might be expensive to have to hire a lawyer to sign on your behalf all the time one ibc also provides that service but even they say like yeah it's quite expensive and so they warn people in advance about it one other one thing though is that local banking is not always required it can be a little bit difficult sometimes but like with this company so it's euro pacific bank i should point out that i do have a relationship with this bank i am a referring agent and so if you are interested i can actually do the initial onboarding for you um but yeah as you can see the cost structure here is very low it's a private bank but without private banking costs other than the transfers so incoming is receiving and outgoing sending out it is quite high so i wouldn't use this if you are doing many different transactions with your company but if you do need a bank um this one is uh is quite good but if you are using cryptocurrencies you cannot use this bank i have tried to talk to them to become more crypto friendly and they've actually been fairly positive about cryptocurrencies or at least neutral about it but they have mentioned to me that a lot of their intermediary banks uh have not approved certain transactions from exchanges and things like that even if you have all of your papers so it's one or the other try to pay a little tax if you can um i know that with zero tax is great because you don't have to pay almost anything but just from my experience with setting up companies with zero tax and then trying to get them onto like exchanges and things like that one of the requirements is to submit perhaps you know some documents regards to tax returns and if you say i don't have anything um well they'll ask you to justify it and then it goes to this whole subjective um valid verification and you know sometimes it can go well if they're very if they're very knowledgeable about the country then it'll go very smoothly but if already they're very suspicious about you it's going to be the burden of proof is going to be on your side so just keep that in mind and i mean even if you can just pay like some government fees here and there to apply for this license that you might not even use ever that's still very useful because then you can show that yeah i'm trying to do everything and being compliant basically try to check the boxes that may not be necessarily like solid boxes but ones that they will be considered like the good to haves also yeah lastly check with how you're taxed where you live uh this might actually cause more problems for you than good i know in spain this does not solve your issue at all in terms of tax reduction um or might even increase it in some cases so please do that research on your own lastly with the residency i only have a few minutes i'm gonna have to try to push through this one quickly residency is not equal to passport you don't get a passport when you have it but sometimes yeah you still get the right of entry so it was very interesting when i had track residency and swiss residency during the time of the lockdowns i was one of the few people in the world who would be allowed to fly back and forth or at least drive back and forth because i could always say i'm just going home and they would have to let me through because i had the right of passage local status so then you're able to get certain discounts that only local people can get they can if you want to avail them some government services you can do that um some price like phone numbers and things like that sometimes they require that you actually be a resident of the country um which can be very useful if you want to put that phone number inside of your one here uh whenever you're doing phone verification tax residency of course one thing that you can also get just by having a residency somewhere else some international benefits so for example um with panama which i'll be going over later sorry paraguay if you're a resident of paraguay you get access to all of the mercury countries although i think for people who don't have a passport as shitty as mine um you probably can go their visa-free anime but for people like me it's great if i have the paraguayan residency because then i can go to all of the mercosur countries without having to apply for a visa so it could even save you money depending on what you want to do so unfortunately there's only two countries that i have on here and it's because a lot of this process has been changing a lot in the past year and also a lot of things are not very clear online in terms of their requirements and things like that paraguay had an asterisk because until today i didn't meet anyone who went through the process and actually got the card but pavel just informed me that he has it now so he can probably verify certain stuff here um so liberation travel is the one that provided me a lot of this information so i'm not able to go through the entire steps for each of those two countries because it's just too long but if you want more information happy to make the introductions and again they're happy to talk to you about it make sure you have your birth certificate passport proof of current residency diplomas if you have any national police clearance i have all of this in one folder i have multiple birth certificates because i've had that lost not by myself not by the postal service but by the freaking embassies they can lose documents so have copies wherever possible and check if your country or the countries that have issued those documents are part of the hague convention because if they are not in the hay convention that document will need to go through the relative the respective department of foreign affairs and then to the embassy of the country that you're sending it to which can take quite a lot of time so for example for my police currents in the philippines when i tried to move to the czech republic um somebody had to get it from in in manila um take it to department of foreign affairs have that notarized and then the track embassy had to then authenticate it which took a process about two and a half months and about 750 euros which was painful so try to not have it oh it's not as clear as i would have liked yeah so this is the information for for paraguay the total cost is around one thousand seven hundred dollars that includes all the translation as well um notable is that you don't actually need to uh have been in paraguay before so you can start the application now and the only time that you'll have to go is when you need your photo taken uh for the card it takes about three to six months um right now the estimates are kind of all over the place and also depends of course on how fast you can get your documents uh physical presence is only actually one day every three years um again as i mentioned access to mercury countries yeah sorry it's not that clear but again my slides would be available to everyone and financial requirements as you can see up there it's deposit of about 4 500 united states dollars it's actually in the paraguayan currency so it fluctuates a little bit or you can do the same and create a company there also you could have a diploma i think that might be used as a substitute for that sorry the land oh i haven't looked that up properly sorry um i think it varies also quite a lot paraguayan uh history is very interesting it's one of the only countries in the world i think the only country in the world to have outlawed same race marriages which is very strange so a lot of their sorry you are not allowed to marry the same race for a while it's illegal now but at some time in the past it wasn't so uh it's yeah paraguay and history and demographics and stuff like that's very interesting so it's it's also hard for me to get information because i don't speak spanish um panama it's about the same but it is more expensive so as you can see it's like gotten a lot more difficult and a lot more expensive even the isle of man a company set up will be a lot cheaper and so legal application fees go up to around 5000 but that's also accounting for the flights and hotels and all this stuff because you need to go there about three times before you can actually get the residency um again in terms of physical presence requirements is very low it's only one day for every two years uh liberation travel has a full document on this that uh i can check with pavel if i can share that with all of you uh but it goes over this a lot more sorry i need to hurry up somewhere out of time deposit is six thousand dollars so actual residency approach remember to deedge register from the place that you're actually physically in if you don't want to be registered there anymore a lot of people forget this and end up still getting taxed in their own residency and having all of the data still there and not in the other country don't just rely on the card have a convincing story at some point you might be asked you might be asked just you know by somebody official and then you know in anything that's subjective it might go against you if you can't really talk a little bit more about the country not when you're there but when you're outside um have an entity where you actually reside have a business entity a lot of people try to just neglect that completely while living in the country that they're actually living in but if you're having a business there you can use that business then for all of your purchases renting your apartment buying property and things like that that way then it doesn't get connected to you personally but in that country but instead you in the other country so keep that in mind and yeah lastly check tax treaties and rules that's very important because again this might actually end up with you having to pay more taxes so actual residency approach so now it's about the actual actually being in the place aka being a digital nomad so as i mentioned in fiji i didn't actually have residency there uh instead i was just um just around there and uh again people asking like why would i choose to live there and why would i go here there or wherever it's just because of who i was at the time at the time i was really just looking for a little bit of an adventure and trying to go somewhere that i think i would never have gone back before i'm not because of that i'm not able to really have a step-by-step kind of thing with choosing which country to move to that's really up to you i'm happy to have the conversation with you one-on-one if you are interested i've known people from many different countries moving to many other different countries [Music] and yeah just have some self-reflection um if you if you choose to want to move understand it it's not easy um i didn't own any furniture for about five years and for some people that's you know that's that's not easy to think that you have two suitcases and a guitar and that's all of your possessions and if you lose one craft you lost half of everything and having to get rid of stuff is also a very painful process saying goodbye to friends if you're not going to see them again if you don't travel as much i'm lucky that i get to travel a lot so i don't usually have that issue so yeah last notes no ed capitalist is a good resource i'm sorry i have to go fast try to get a foreign bank account euro pack bank also has personal bank accounts it's a bit cheaper it's about half the price not for transactions but for setting up don't push further than what you need a lot of people really again try to go really far really fast and then they end up in more bills than they actually want take things one step at the time try not to rush things unless you want to throw in a lot more money to speed up the process and lastly be flexible a lot of the places i moved to were not because i chose to at the time but because i had to and it's that flexibility that really was able to make me calm like people ask me how the hell did you survive that endeavor just having to lose everything and starting all over well i learned to be flexible from a long time ago so the fight against digital totality for me is not just so much in terms of having all the encryption tools um but trying to approach it in a more cunning way it's something that a lot of places try not to attack so much again by having misinformation out there i'm not saying lie to the places but if there's information you don't care about put it up there there's information that you care about try to keep it down and they might think that you're already sharing too much information and just okay pass along which is what's happened for me many times so that's my workshop thank you very much for listening i'm here to answer any questions and i'll be around until sunday thank you very much thanks a lot travis uh for a fascinating presentation i hope you will see each other in paraguay or panama in the following month i'm i'm planning to travel to paraguay like next month to pick up my national id i still can't get my police clearance yeah so if you want if you want to join me or join us to uh with the travels to prager or panama let us know after the conference yeah cool and i think we have a couple of minutes for questions so ask yeah portugal uh yeah i was supposed to go over it a little bit but the person i wasn't able to get the right information and i also realized that most of the attendees are european so you guys can just literally go there without much of a problem uh and so like if i was going to talk about the process i didn't think it would be that relevant so i said skip it for now but if you'd like when i get the proper information i can send it to you oh okay the thing is that what i know for like some of my friends that uh they got uh residency in portugal portugal is probably not now one of the best european country if you are involved in crypto because you have no obligation to tax your crypto if you have political uh tax residency for portuguese portuguese tax presence i think it's for five to ten years yeah right now yeah i think it's temporary like everything in europe is temporary but yeah yeah but that one you actually have to like live there yeah exactly just be flexible yeah another questions okay wait a moment i'm going to bring you the microphone what do you think about the estonia e-resident thing i mean it doesn't really do anything a lot of people have brought that suggestion to me because you get residency but you don't all you can do with that card is signed documents legally digitally that's it which is great which is great i'm not saying it's bad but it doesn't do anything in terms of residency in terms for me i still need to set up a company there if i want an estonian visa 8 000 euros not including legal expenses not including office and then um yeah okay like i'd be able to move there that way but the card didn't do anything other than allow me to sign the document so yes it's a cost cutter maybe but other than that doesn't do much and you can three bosses okay that's new oh okay did not know that yeah so so this is not a real residency no it's not it's just uh it means you you can just interact with their government services that's all yeah it's a it's a bit fraudulent in my opinion but yeah that's my opinion okay some other questions maybe last questions give you any question okay i just have a practical question because you mentioned the total cost but what is it actually that is in the total costs so for the total cost it covers all of the legal expenses i try to also include any translation expenses that might be needed of course a lot of these are estimates you can translate on your own if you can all of the government filing fees all of the you know fees all the way from the filing all the way to the processing and everything like that so i tried to include as much as possible in there so there were no hidden fees but i i haven't gone through the process for all of these countries so i can't really like attest to them but at least with the ones from one ibc they've been very upfront with me about it there are perhaps some additional costs if you do something unique um and those ones i didn't include because i wanted this just for the standard you know like as a consultant kind of company um yeah and the recurring costs that one also included like the first year office if an office was required and if a local director was required for that country i also included that fee there um for the for the office fee i tried to take the average instead of getting the lowest one because that way you'd be happy if you see something cheaper the recurring costs included accountant to do all of the accounting reporting whether or not it's sent the office registration and any other fees in order to keep it up also local director year leafy and things like that