I'm Dan Merriam. My decision to leave Canada in 2020 and move to Antigua and Barbuda was the culmination of a life spent exploring and doing business across the globe. My travels took me to over 50 countries, including extended stays in the US, Asia, Europe and various Caribbean islands. These experiences began with a key business opportunity in Guangzhou, China, which led to an early investment in a tech startup and later expanded into a series of successful consulting roles. This global journey wasn't just about exploring new places but about discovering and capitalizing on unique business and investment opportunities, shaping my skills and perspective as a Wealthy Expat.

Overlooking The Pacific Ocean, Sunshine Coast, BC, Canada

Leaving Canada for the Caribbean was a decision based on thorough research and a deep understanding and research of global opportunities. Choosing Antigua and Barbuda was a strategic move, influenced by its great weather, attractive lifestyle, investment potential, and citizenship by investment program. Through my story, I hope to offer practical advice and inspiration to those aspiring to a similar path, showing that a blend of professional diligence and a passion for exploration can lead to a rewarding and prosperous life as a Wealthy Expat. My journey demonstrates that with the right approach and mindset, the world offers endless possibilities for those willing to take the leap.

How I Became an Expat?

Travelling in Palawan, Philippines in 2017

My expat and entrepreneurial journey didn't happen overnight. It took strategic planning, a strong grasp of financial management, and an obsessive commitment to saving. I've always believed in the power of investing in tangible assets, and real estate has been at the core of my wealth-building strategy. I leapt into the property market early, capitalizing on lucrative opportunities in emerging markets. It was this foresight that dramatically expanded my portfolio.

Over time, my investments grew in value, partly because I was quick to spot trends and adapt to market changes. Meanwhile, I sought expert advice, which led me to diversify my portfolio further. I actively participated in investment migration programs, obtaining residencies in countries that offer favourable tax regimes and strong property rights, crucial factors that protect and bolster investments.

Advancements in digital communication and borderless transactions simplified the process to broaden my international presence. I could manage my properties and oversee my investments from any corner of the world. It wasn't just about accumulating wealth and crafting a lifestyle that afforded me greater freedom and mobility.

Advantages of Being a Wealthy Expat

Freedom to Travel

One of the most alluring aspects of my life as a wealthy expat is the unparalleled freedom to travel. Visa-free travel becomes a significant advantage, particularly when my portfolio of passports and residencies opens doors to over 180 countries worldwide, including prime destinations such as Europe, the UK, Canada, and New Zealand. This mobility is not just about leisure; it's about seamlessly conducting international business, networking, and accessing global opportunities without the conventional roadblocks that many travellers face. I've realized that the value of hassle-free movement across borders cannot be overstated—it's a privilege that has amplified my lifestyle and business engagements.

Investing Internationally

Cultivating a robust investment portfolio is central to maintaining and growing wealth, and international investments have been a game changer for me. They've allowed me to diversify my assets and mitigate the risks associated with economic fluctuations within a single market. My engagement with emerging markets, in particular, has yielded lucrative returns. Countries like Mexico have witnessed a 48% surge in foreign investments, with direct investments reaching a significant $29.04 billion in just the first half of 2023. By tapping into this growth, I've bolstered my financial portfolio and contributed positively to local economies.

Ability to Live and Invest Tax Free

Possibly, the most strategic move I've made as an expat is optimizing my tax position. Some countries offer residencies with favourable tax regimes, allowing investors like me to enjoy a tax-free living. My collaboration with tax reduction and asset protection experts has simplified these complex processes, ensuring I can make the most of my investments. Moreover, by choosing jurisdictions that appreciate the value of foreign investment, I've been able to reduce my tax burden without compromising on compliance. It's a lawful approach to wealth preservation that reinforces my financial freedom and continues to support my expat lifestyle.

Living as a wealthy expat has provided me with opportunities that defy borders and transcend the limitations of being tied to a single country's economic ecosystem.

Challenges Faced by Wealthy Expats

Singapore — The Ultimate Destination for Wealthy Expats in Asia

Cultural Differences

Adjusting to a new culture proves to be a steep hill to climb for many wealthy expats. Moving beyond familiar territories introduces a slew of social nuances and customs that might be at odds with my own upbringing. The initial charm of local traditions can quickly spiral into a gauntlet of faux pas if I'm not careful. In some locales, direct eye contact is a sign of confidence; in others, it could be perceived as disrespect. It's a delicate dance to navigate the cultural minefields, making it essential to acquaint myself meticulously with the local ways to avoid unintended offence and to foster rapport with my new neighbours.

Language Barriers

Seamless communication is a linchpin of effective integration in a new country. As a wealthy expat, I often find that while English might be widely spoken, it’s not always the vernacular heartbeat of a place. Encountering language barriers can lead to misunderstandings that hinder both my personal and business negotiations. To mitigate this, I've learned investing time in learning the local language isn't just about words — it's an olive branch to a culture, signalling respect and the willingness to truly belong. Fluency might take time, but I’ve noticed that even making an attempt can bridge gaps and open doors that my bank balance alone cannot.

Dating and Relationships

Navigating the intricate dance of dating and building relationships is significantly more complex when I'm thousands of miles away from home. Customs and expectations in dating vary wildly from country to country. As a wealthy expat, I've seen that wealth can sometimes obscure genuine connections, attracting potential partners who may be more interested in my financial status than in me as a person. Establishing real connections demands a fine balance between vulnerability and caution. Privacy becomes golden, and fostering meaningful relationships requires more than the usual level of discernment and patience to discern intentions and build trust.

Strategies for Becoming a Successful Expat

The Life of a Wealthy Expat Working Remotely

Start Building Wealth Young

My journey to financial freedom started early in my career. I quickly realized that the sooner you begin to save and invest, the more you can take advantage of compound interest and the wealth-building power of time. I set out to create multiple income streams and was disciplined about budgeting and saving. This is crucial for anyone aiming to become a wealthy expat. It's not just about how much you earn but how much you save and invest. Young entrepreneurs and professionals should consider:

Automating savings to build up an emergency fund and investments
Diversifying income sources to reduce reliance on a single paycheck
Learning about finance and investments to make informed decisions

Building an International Network

In my travels across over 75 countries, I’ve built an invaluable, robust global network. Having connections in multiple countries can open doors to business opportunities, local market insights, and potential partnerships. Networking is an art that entails more than exchanging business cards or adding connections on LinkedIn. My approach has always been to offer value first and maintain genuine relationships. I'm always ready to help my contacts, and this generosity often comes full circle.

International networking strategies include:

Attending global conferences and events in your industry
Joining expat communities and professional groups
Utilizing social media to stay in touch with international contacts

Investing in Real Estate

One pillar of my wealth has been strategic real estate investments. Property can provide both rental income and long-term capital growth. Working with Wealthy Expat, I’ve seen firsthand how acquiring real estate can play a vital role in residency and citizenship planning. I focus on markets with strong rental yields and growth potential. For expats seeking wealth accumulation, real estate offers several benefits:

Passive income through rentals
Appreciation potential over time
Stability compared to other asset classes

Regular financial health check-ups
Adaptation to new laws and regulations
Forecasting and scenario planning

My Top Countries for Wealthy Expats and Families

Choosing the right destination as a wealthy expat isn't just about the allure of a new place; it's about the strategic benefits that each country offers. Here are my top picks based on my personal experiences and extensive research.

Singapore

Singapore is a bustling metropolis with a unique mix of modernity and traditional charm, making it an attractive destination for wealthy expats. Known for its strong economy and political stability, the city-state provides a safe and efficient business and family life environment. Singapore's high-quality education system, world-renowned healthcare, and strict law enforcement are particularly appealing to expats. Moreover, its strategic location in Asia makes it a hub for international business and travel.

Strong economy and political stability
High-quality education and healthcare
Strategic location for international business

In Singapore, the blend of a highly developed infrastructure with a rich cultural tapestry offers a comfortable and exciting lifestyle for wealthy expats. The city's clean, green spaces, alongside its bustling urban areas, provide a diverse living experience. For expats looking to balance a thriving business environment with a high standard of living, Singapore stands out as a top choice. Its reputation as a global financial center and a multicultural community ensures a vibrant and prosperous living experience for those who choose to make it their home.

Dubai

Dubai stands out as a global hub for wealth and business. The UAE's tax-free policy on personal income is a significant draw. Setting up my company here was remarkably straightforward, thanks in part to services like Wealthy Expat that streamline the process. The Emirates ID I received within days symbolizes legal residency and the efficiency and modernity Dubai offers.

No-income-tax regime
Strategic location for business
High standard of living

The lifestyle in Dubai is both lavish and cosmopolitan, making it a prime destination for wealthy expats. Beyond its no-income tax regime and strategic business location, Dubai offers a melting pot of cultures and world-class amenities. The property market here presents luxurious living options and significant investment potential. For those seeking a blend of business growth and high-end lifestyle, Dubai is an unparalleled choice.

Thailand

Thailand is renowned for its stunning landscapes and welcoming culture, but there's more to it for expats. The cost of living is relatively low compared to Western standards. My interactions with international networks revealed that many wealthy individuals value the quality of life Thailand promises. The country offers attractive investment opportunities which can lead to residence, and the process has become more foreigner-friendly over the years.

Affordable cost of living
Opportunities for cultural immersion
Attractive investment options for residency

Life in Thailand offers a harmonious blend of tranquility and vibrancy. From the serene beaches to the dynamic streets of Bangkok, it caters to a wide range of lifestyles. Wealthy expats appreciate the affordable cost of living, the rich cultural experiences, and the growing opportunities for investment, particularly in real estate. Thailand has become increasingly attractive for those seeking a high-quality life amidst natural beauty and cultural richness.

Barbados

Barbados hits a sweet spot for those looking for a Caribbean escape. Its Special Entry and Reside Permit (SERP) makes it appealing for high-net-worth expats. Barbados is complemented by a stable political environment and a well-established expat community. The island offers more than just a picturesque setting: it's about a relaxed pace of life combined with solid infrastructure and investment opportunities in real estate.

Friendly tax environment
Political stability
Lifestyle and community for expats

In Barbados, wealthy expats find a unique combination of relaxed Caribbean charm and sophisticated living. The island's friendly tax environment, political stability, and welcoming expat community make it more than just a scenic destination. It offers a tranquil lifestyle complemented by excellent infrastructure and investment opportunities, particularly in the real estate sector. Barbados represents a perfect balance of leisure and luxury for discerning expats.

Costa Rica

Costa Rica's pura vida (pure life) mantra encapsulates its laid-back lifestyle. It's a destination that values environmental sustainability and offers a high quality of life. My experiences in Costa Rica have highlighted its affordable healthcare and the appeal of owning property here. Costa Rica stands out for those searching for ecological living and business opportunities in eco-tourism.

Focus on sustainability
Affordable healthcare
Investment potential in eco-tourism

Costa Rica is synonymous with a relaxed, eco-friendly lifestyle. Its focus on sustainability, affordable healthcare, and opportunities in eco-tourism make it an attractive destination for wealthy expats who value both quality of life and environmental consciousness. The country's pura vida philosophy is evident in its peaceful living, rich biodiversity, and welcoming local culture, offering a unique living experience that blends well-being with ecological responsibility.

Antigua and Barbuda

Antigua and Barbuda — A Paradise for Wealthy Expats and Affluent Families

Last but not least, my home in Antigua and Barbuda offers one of the top citizenship by investment programs that caught my attention as a practical route to dual citizenship, offering many advantages. Its low tax regime is another feature worth noting. Life in Antigua and Barbuda can be as relaxing or active as one desires, with its vibrant local culture and maritime activities.

Citizenship by investment program
Tax advantages
Rich culture and recreational activities

Antigua and Barbuda offer a lifestyle that's both tranquil and culturally rich. The citizenship by investment program and tax advantages are significant draws for wealthy expats. Life here is a blend of relaxation and adventure, with ample boating activities and cultural exploration opportunities. The dual-island nation is ideal for those seeking a peaceful yet vibrant Caribbean lifestyle, with the benefits of easy global travel and financial incentives.

Conclusion

Nobu Barbuda, Antigua and Barbuda

I've traversed the globe and experienced firsthand the perks of expat life in over 50 countries that welcome wealth and offer a tapestry of benefits to enhance it. Whether it's Dubai's lucrative business landscape, Thailand's cost-effective living, Barbados' serene stability, Costa Rica's eco-conscious offerings or Antigua and Barbuda's citizenship by investment perks, each destination presents a unique opportunity to thrive.

Embracing the expat lifestyle isn't just about finding a new home—it's about crafting a life that aligns with your financial goals and personal aspirations. The world's truly your oyster; with the right strategy, you can cultivate a prosperous existence wherever your heart leads you.

**Bio**

International Real Estate Investor and Entrepreneur. Founder **@Offshore Freedom** | Host of the **@CaribbeanRealEstatePodcast**
We help successful investors and entrepreneurs live and invest tax-free in the Caribbean and buy real estate internationally.

Schedule a consultation with Dan Merriam, and let him help you design the life of your dreams and achieve Offshore Freedom™. Ask questions and get answers about the Caribbean, tax planning, banking, international real estate, second residencies, citizenship by investment and lifestyle design,

Writer in Tax Reduction, International Tax Planning, Travel, Golden Visa, Second Residence, Real Estate Investing, Wealthy Expats, Affluent Family, Nomad, Global Citizen, Hamilton Ontario, Real Estate Hamilton, Rental Property, BRRR Method, Caribbean Citizenship, Global Mobility, Technology, Asset Management, Lifestyle Planning, Company Formation, Offshore Banking, Asset Protection, Technology, Entrepreneurship

Top Countries for Wealthy Expats to Live and Invest