Video Briefing

Nomad Capitalist: Proof Your Country Doesn’t Care About You

Apr 16, 2021Video Briefing13:28Watch on YouTube

Since the start of the 2020 pandemic, a growing number of people have concluded that their governments are largely indifferent to citizens’ hardships. The sentiment is backed by a series of concrete examples that illustrate how public policy, fiscal decisions, and administrative services often fail to protect or support individuals during crises.

Pandemic‑era emergency response

  • Limited evacuation assistance – In the United States, citizens stranded abroad during the early COVID‑19 outbreak were offered “evacuation tickets” only if they could pay for a commercial flight, with no guarantee of a government‑provided seat.
  • Private‑jet costs – Some travelers resorted to chartering private jets at prices around $200,000 to leave pandemic hotspots, a cost most individuals cannot bear.
  • No universal safety net – The expectation that governments would intervene to help citizens escape deadly viruses or war zones proved unfounded; assistance was largely absent.

Fiscal mismanagement and new taxes

  • Absence of rainy‑day funds – Many governments entered the pandemic without sufficient reserves, prompting a scramble for additional revenue.
  • Emerging tax proposals – Countries are discussing wealth taxes, higher capital‑gains rates, and even retroactive taxes. For example, the United Kingdom is considering a wealth tax on anyone with assets exceeding £500,000.
  • Inflationary pressure – In the past 12 months, the money supply in major economies has expanded dramatically, fueling inflation that erodes purchasing power. The U.S. dollar and other fiat currencies have seen significant devaluation, prompting concerns about hyperinflation.

Declining consular and public services

  • Passport delays – In the United States, passport renewals have taken up to ten weeks, whereas some jurisdictions can issue a passport within four hours.
  • Embassy inefficiencies – U.S. embassies abroad have been reported to operate on “normal business” schedules, yet citizens seeking urgent assistance often encounter long wait times or outright denial of service.
  • Limited emergency support – The lack of a coordinated evacuation plan left many expatriates without help when borders closed.

Lack of support for entrepreneurs

  • Uncompetitive tax environments – Nations such as the United States, the United Kingdom, New Zealand, and Uruguay have introduced or are considering higher corporate and wealth taxes, discouraging foreign investment and job creation.
  • Insufficient incentives – Despite rhetoric encouraging entrepreneurs to “create jobs,” many western governments have not offered tangible benefits or streamlined processes to attract business founders.

Travel restrictions and quarantine policies

  • Outbound travel bans – Citizens of countries like Australia and Uruguay have faced outright bans on leaving their home nation during pandemic peaks.
  • Inbound quarantine hurdles – Some jurisdictions imposed strict quarantine requirements that effectively prevented re‑entry, leaving residents stranded abroad for extended periods.
  • Costly accommodations – In certain cases, governments have contracted private hotels for quarantine, charging rates that can exceed $150 per day for minimal amenities.

Practical considerations for individuals

Given these systemic shortcomings, many are exploring alternatives to mitigate reliance on a single national system:

  • Second passports and residencies – Acquiring citizenship or residency in a jurisdiction with lower taxes and more favorable exit/entry policies can provide a safety net.
  • Offshore asset protection – Diversifying assets across multiple legal jurisdictions can shield wealth from sudden tax changes.
  • Strategic relocation – Moving to countries with stable governance, efficient public services, and transparent fiscal policies (e.g., certain Caribbean nations, Panama) can reduce exposure to unpredictable domestic policies.

While no single solution guarantees immunity from governmental indifference, diversifying legal and financial ties across borders can offer greater flexibility and security in an increasingly uncertain global environment.