Why I Left Canada to Live and Invest in the Caribbean
Dan Merriam - Nobu Barbuda, Antigua & Barbuda
It’s been almost a decade since I left my career in sales and business management and became a full-time investor and entrepreneur. It’s been a wild ride. I’m grateful every day for the success and failures I’ve had and the incredible people I’ve met along the way.
In 2011, I started investing in real estate in downtown Hamilton, which at the time was a rough city near Toronto, Canada. When I first started, I knew nothing about construction, property management, or investing but I quickly learned. Once my portfolio required me to be less hands-on, I started working remotely and travelling the world with a focus on growing my real estate portfolio internationally. I quickly realized that I wanted to live a life of global freedom. After exploring over 50+ countries in Europe, Asia, and Latin America, in 2020, I saw a big opportunity in the Caribbean region.
The personal and professional growth I’ve experienced, particularly in the last five years, has been remarkable. I have a few close friends and colleagues to thank for that.
My Biggest Failures and Accomplishments
In that brief period, here is a quick list of some of my biggest accomplishments and failures:
Left my career in 2014 to start investing in real estate full-time
Independently owned and managed a $15M real estate portfolio in Hamilton, ON by 2020 (43%+ leveraged annual IRR)
Worked remotely and travelled to over 20 countries during the pandemic and 50+ countries in my lifetime
Founded, launched, funded, and failed at building a property technology start-up (ICAREUM) in 2020/2021
Disposed of 90% of my Canadian real estate portfolio in 2021 and early 2022
Launched a Canadian real estate PE fund with some of the smartest people I know (Essential Real Estate Partners)
Started investing internationally in 2021 in the Eastern Caribbean
Living and working in Guangzhou, China
International Consulting Work
While living in Asia in 2019/2020, I seriously considered the prospect of becoming a non-resident of Canada. I was familiar with the MM2H program in Malaysia and explored other programs in Asia, such as the Thai Elite Visa. As property values in Canada increased during the pandemic and the equity in my investment portfolio continued to grow, it was starting to make sense to relocate to a more tax-friendly country. After much thought, in 2021, I decided to leave Canada and relocate to the eastern Caribbean.
My Office in Hamilton, ON Overlooking West Harbour Marina
Although there were many motivations for leaving Canada and moving to a tropical paradise, like most hard decisions, I went with my gut. Since reading Don Campbell’s book “Real Estate Investing in Canada” ten years ago, I’ve always dreamed of finding my “personal Belize.” I researched extensively other countries and places around the world to work, live, and invest, and I kept coming back to the Caribbean. There was just something sexy and exotic about it.
Like most decisions, leaving Canada, the country I called home, wasn’t 100% logical. Some people thought that I was a bit of a nut. Selling my dream home and all of my possessions was nothing short of painful, and leaving friends and family behind was even more challenging, especially during a global pandemic. It’s been a difficult two years. But despite the pain and difficulty I experienced early on, something about it felt right.
Shirley Point, Antigua and Barbuda
Trading Canada for the Caribbean
I decided to set up my new home in the former British Territory of Antigua & Barbuda. Now that I’ve settled in here, leaving Canada and moving to the Caribbean was the best decision I ever made. Over the past two years, I’ve learned so much by being on the ground in the Caribbean. I have a new appreciation for the richness of culture, strength of communities, diversity of people, and slower-paced lifestyle.
In this short period of time, I’ve discovered new opportunities in businesses, real estate investment, and a region ripe for digital transformation and disruption. I’ve reduced my top tax rate from 54% to effectively less than 1% on most sources of income. And I’m also proud to say that I’m weeks away from acquiring citizenship through the Antigua & Barbuda Citizenship by Investment program.
Waking Up in Jolly Harbour, Antigua and Barbuda
My average day in Antigua is magical. I love waking up before 5 am and watching the sun come up. I love going for a beach run or workout and feeling the cool morning sea breeze. I love spending days in my office planning and brainstorming new initiatives without distractions. I love knowing I’m just a quick Zoom call away from anyone in the world. I can honestly say that I have never been more focused, productive, or happy in my entire life.
Everything moves at a different pace, especially in smaller Caribbean islands like Antigua. Getting things done isn’t always as straightforward or transparent as in Canada. It’s been challenging to complete simple tasks like banking, real estate transactions, and importing products. But that made me quickly realize that building a strong network is especially important in the Caribbean. People here value relationships and community here over money and material things.
The Summit at Mount Batur, Bali, Indonesia
Looking Back at the Last 3 Years
As I reflect on my journey, I have been asking myself:
How I can take the thousands of hours of research and hands-on experience and guide others through this process?
How can I make the process less painful and more enjoyable?
How can I help others find their “Personal Belize”?
With this in mind, I am excited to announce that I will be pivoting my business and real estate consulting practice to help successful investors and entrepreneurs live and invest in the Caribbean and abroad. I want to help others find the happiness and quality of life I have found here in the Caribbean, and I’m excited to share all that I’ve learned over the past decade.
Offshore Freedom™ is a boutique consulting firm focused on helping successful investors and entrepreneurs live and invest in the Caribbean, reduce taxes, invest in real estate internationally, acquire second passports/residences, and live a global lifestyle. We specialize in international tax planning, lifestyle design, citizenship by investment, second residences, real estate investment, and relocation assistance. Our goal is to provide our clients a high “return on life” and help them find their Offshore Freedom.
I invite you to join me on this journey as I share my experiences and insights through my upcoming Offshore Freedom™ content, including a YouTube channel, social media, and other blogging platforms. The Caribbean is a region that I love, and I am eager to share it with others.
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, Citizenship by Investment, Second Residence, Real Estate Investing, Asset Management, Lifestyle Planning, Company Formation, Offshore Banking, Asset Protection, Technology, Entrepreneurship
This article is for informational purposes only; it should not be considered financial, tax planning or legal advice. Consult a financial or investment professional before making any major financial decisions.
