Video Briefing

Offshore Citizen: The Best Place in the World to Live

Jun 22, 2022Video Briefing9:41Watch on YouTube

Living in the “best” place on Earth isn’t a one‑size‑fits‑all decision. It depends on personal values, climate preferences, language, cost of living, tax considerations, and the practicalities of residency. Rather than searching for a single perfect location, many experts now recommend a multi‑country lifestyle that blends the strengths of several destinations while minimizing their drawbacks.

Why a single “perfect” location rarely exists

  • Seasonal climate limits – A city like Dubai offers world‑class infrastructure but is intolerably hot during the summer months. Conversely, places such as Japan or Switzerland provide cultural richness and natural beauty but may not suit everyone year‑round.
  • Language barriers – Living in a Spanish‑speaking country can be rewarding, yet the need to learn a new language adds a time and effort cost that some consider a deal‑breaker.
  • Cost variations – A location that ticks all other boxes may be more expensive; the extra cost is often justified if the overall quality of life improves.

These trade‑offs mean that most people will find a set of “good enough” places rather than a single flawless one.

The “plurality of places” approach

  1. Identify core lifestyle criteria – List the non‑negotiables (e.g., mild climate, outdoor recreation, reliable internet, tax efficiency).
  2. Match criteria to multiple regions
    • Cold‑climate lovers: Ireland, Switzerland, Canada, Montana, Wyoming.
    • Warm‑climate enthusiasts: Costa Rica, Seychelles (seasonal), parts of Latin America.
    • Urban culture seekers: Japan, major European capitals.
  3. Plan seasonal stays – Allocate months to each location based on climate and personal schedule. For example, spend June in Park City, Utah (skiing and mountain activities), then shift to a tropical spot for the winter months.
  4. Secure appropriate residency permits
    • Some countries require a minimum stay (e.g., Seychelles) to maintain residency.
    • Others offer “digital nomad” visas or investor residency programs that can be obtained for shorter periods.
  5. Diversify legal and financial ties – Holding residencies, bank accounts, and possibly citizenships in multiple jurisdictions spreads risk and can provide tax advantages.

Practical considerations for a multi‑location lifestyle

Factor What to evaluate Typical options
Tax residency Where you are deemed a tax resident based on days spent, income sources, and local laws. Portugal NHR, UAE (no personal income tax), Panama Friendly Nations Visa.
Cost of living Housing, food, healthcare, transportation. Costa Rica (~$1,500/month), Portugal (~$2,000/month), Utah (~$2,500/month).
Healthcare Access to quality care and insurance coverage. EU countries (public systems), Singapore (private, high‑quality).
Internet & work infrastructure Reliability for remote work. Estonia e‑Residency, Thailand (Chiang Mai), Mexico City.
Language Need to learn a new language or rely on English. English‑speaking: Malta, Ireland, Canada; non‑English but expat‑friendly: Spain, Portugal.
Visa requirements Length of stay allowed without a visa, visa‑on‑arrival, or long‑term options. 90‑day Schengen, 180‑day stay in Costa Rica, 12‑month digital nomad visas in Barbados, Georgia.

Steps to start diversifying your living base

  1. Create a “location matrix” – List desired attributes (climate, cost, tax, language) and score potential countries.
  2. Research residency pathways – Identify the minimum stay, investment, or income thresholds for each target country.
  3. Test with short trips – Spend a month or two in a candidate location before committing to a longer stay or residency application.
  4. Set up banking and legal structures – Open accounts in jurisdictions that support multi‑currency transactions and consider establishing a holding company if you have business interests.
  5. Maintain documentation – Track days spent in each country to stay compliant with tax and residency rules.

Risks and caveats

  • Tax complexity – Multiple residencies can trigger tax filing obligations in several jurisdictions; professional advice is essential.
  • Legal compliance – Overstaying visas or failing to meet residency minimums can result in fines or loss of residency status.
  • Healthcare coverage gaps – Not all countries provide universal coverage to non‑citizens; private insurance may be required.
  • Cultural adaptation – Frequent moves demand flexibility and may affect personal relationships and community ties.

Bottom line

There is no singular “best place in the world” to live. By defining personal priorities, evaluating several complementary locations, and securing the necessary legal and financial foundations, individuals can craft a lifestyle that captures the advantages of multiple environments while mitigating their disadvantages. This pluralistic approach not only enhances quality of life but also offers tax, cost, and security benefits for digital nomads, investors, and entrepreneurs alike.