Optimizing Travel with Flag Theory
Travel Tip #7
I just learned about Flag Theory during Bansko Nomad Fest, a week-long festival of 700+ nomads from all over the world gathered together to learn, make connections (nomads tend to be very entrepreneurial), and dance the night away.
One of the many parties during Bansko Nomad Fest. Not my video, please claim if yours.
Flag Theory promotes a strategic approach to all aspects of your global life, including citizenship, residency, banking, investments, housing, and healthcare.
The idea is to optimize each piece of the puzzle based on your individual needs and situation and to leverage the different laws and regulations in each country while mitigating risk.
Flag Theory appeals to travelers who are looking to maximize their financial portfolio while decreasing their tax obligations (legally, of course).
Many Flag Theory proponents trade and invest in cryptocurrency. With regulations varying significantly across countries, from regulated (Switzerland and Singapore) to permissive (Paraguay), crypto enthusiasts are forced to stay abreast of changing laws.
Flag theory is also gaining ground with perpetual travelers (PTs) like me, who don’t have a home base. As we continuously travel the globe, we become less dependent on a single nationality, becoming what’s called “denationalized.”
Denationalization means I have a great deal of flexibility in where I choose to travel and reside. Continuous travel also prompts me to think more carefully about the advantages of having multiple passports or securing an increasingly popular Nomad Visa.
A Nomad Visa can grant a traveler residency in a country for up to 1-5 years. Portugal, Estonia, and Costa Rica have been at the forefront of offering Nomad Visas.
As you can see, when you start to look at each bit of your global life, there are a lot of variables to factor in.
By working with a Flag Theory consultant, nomads can ensure we’re meeting the tax obligations of our home countries while maximizing our investment and residency options. 🦋
Are you ready to think more strategically about your global life? What factors are important for you: diversification, dual passports, tax optimization, economic stability, or political freedom?
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Christened “Wander Woman” by National Geographic, Erin Michelson is a professional speaker and author of the Nomad Life™ series of travel books and guides, including the #1-ranked “Explore the World with Nomads.”
Never heard this terminology before - v cool! Though we've definitely talked about the theory at the Complexity Adventures conference. We call this the Cloud country ;) Another buddy has been pushing this, too, for the past 10+ years and calls it Global Citizenship. Whatever it's called, the movement is real! We've decided to create a homebase for us in Europe since we have kids, but still v curious about this all. Thanks for sharing!
Great post! I’ve learned two big things today