Most expats moved to Dubai chasing tax-free income, luxury living, and warm weather — but the war with Iran has exposed the fragile foundations beneath that dream. In this episode, John Odermatt speaks with world-renowned expat consultant Mikkel Thorup about why he left the UAE seven years ago, what he saw coming, and what current residents need to know. Thorup spent nearly a decade in the UAE before recognizing that its dependence on imported food, desalinated water, and hydrocarbon energy made it dangerously vulnerable to regional conflict. He shares firsthand accounts of stranded tourists, canceled Iranian Golden Visas, potential banking disruptions, and the very real consequences of living near active missile exchanges. For those looking for an alternative, Thorup points to Latin America as an increasingly attractive destination — politically shifting rightward, food and water independent, and offering genuine tax-free lifestyles. He closes with practical advice on building an offshore Plan B whether or not you ever physically move, covering banking, holding companies, real estate, and residency strategies. For anyone currently in the UAE or rethinking their global base, this episode offers a sobering and actionable reality check. Chapters 0:00 — Intro & Teaser: War in Iran turns the Dubai dream into a dangerous gamble 1:18 — Sponsor: Fox & Sons Coffee — use code JOHN for 15% off orders of $40+ at foxandsons.com 2:05 — Guest Introduction: Mikkel Thorup, host of the Expat Money Show and leading expat consultant 4:18 — Why Mikkel Moved to the UAE in 2011: Tax-free lifestyle, beaches, connectivity, and growth 5:49 — Visiting Iran: Separating the people from the government 7:02 — The Turning Point: Starting a family and rethinking resilience — food, water, and energy dependence 10:25 — Was Anyone Else Worried? Why most expats weren't thinking about geopolitical risk 12:55 — What's Happening Now: Stranded travelers, hotel chaos, interceptor missiles, and denial 15:47 — Financial Risk: Banking closures, frozen accounts, and canceled Iranian Golden Visas 18:47 — Advice for Expats Still in the UAE: Find the dream elsewhere 19:15 — Where to Go Instead: Latin America — Costa Rica, Panama, Argentina, Paraguay, and more 20:43 — Why Mikkel Chose Panama: Surveying the world and landing in Latin America 21:39 — The Political Shift in Latin America: From socialism to free-market leadership 22:56 — El Salvador vs. Mexico: Safety, rule of law, and what it means for expats 23:58 — How to Work with Mikkel: Comprehensive expat planning from tax to immigration 25:36 — Building a Plan B: Offshore banking, holding companies, real estate, and residency 26:25 — Wrap-Up & Where to Find Mikkel: expatmoney.com | The Expat Money Show (400+ episodes) Links Mikkel Thorup — Expat Money: https://expatmoney.com The Expat Money Show Podcast: Search "Expat Money Show" in your podcast app Sponsor — Fox & Sons Coffee: https://foxnsons.com — Code JOHN for 15% off $40+ Lions of Liberty on Patreon: https://patreon.com/lionsofliberty Lions of Liberty on Locals: https://lionsofliberty.locals.com Learn more about your ad choices. Visit megaphone.fm/adchoices
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