Any nomad-specific gadgets that you’d get someone for Christmas or use to make your iife/location independent business more easy?
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I have finally saved enough money to start investing. What company gives good, diversified access to stock, ETFs and mutual funds? Does it make sense to use company like Vanguard or Fidelity for that? I’m a EU/Poland citizen, how would I transfer my money back and forth without incurring significant fees?
Hey guys, here’s a question I’ve been asking nomads I meet everywhere, but still haven’t found good information. My startups mostly focus on american and european markets but I don’t have a registered company, nor I live permanently on any of these countries.
I get the cash payments online in paypal (or adsense) and transfer it to Thailand (or Malaysia, or Bali, or Brazil, or wherever I’m at). The thing is… for low volume living expenses it seems fine, but as I scale the business, I’m starting to think more and more about fiscal law.
A fellow nomad told me to transfer it to Singapore, Hong Kong or The Virgin Islands, and then use an international credit card anywhere. I don’t know if it’s the best way to optimize this… any ideas?
Also, could there be any problems in selling to these countries without a registered local company?
For some of us maintaining a US Based Bank is just a necessity. Either we never pick up residency abroad, or have a US based business for which a US based account makes life easy.
Purely online personal banking is a growing trend. Schwab has a great checking account that reimburses ATM fees and has no international fees, Simple is a new online only bank with tons of great features (though not so great for nomads abroad).
Anyone know of similar services for small business online?
Features I’m looking for:
- Business accounts (not a human name on the account)
- Great website experience
- Photo Check deposit
- Cheap / below-average transfer and wire fees
- Cheap fees / minimum balance requirements
I prefer storing my cash in personal accounts or investment accounts
- Free international use of cards
Hello fellow Nomads!
I’d like to be more than just a Shengen stamp in the EU. What are the easiest ways/countries to be an EU resident (perhaps even permanent).
I heard you can buy cheaper property in Bulgaria or a business in Lithuania. Does anyone have suggestions?
Are there guys here with income over $10k month living more luxury-like lifestyle? I struggle to find friends with similar lifestyle who can travel anywhere and not care about the money, who can go to a nice restaurant or bar and not look at the prices.
I am not a douche bag (mostly) who only cares about the money, but the majority of people I met are trying to spend less and it kills so many opportunities to have fun… I am not rich at all, but I hate “backpacker” lifestyle and call myself a “flashpacker”.
I used to live in Bangkok and I visit this city frequently. Now I’m in Saigon and going to Taipei in the end of Nov. Anyone wants to connect?
Which is your favourite country in the world to incorporate and why?
I have a product that I plan to retail in the EU, Japan, the USA, Canada and New Zealand. Where should I incorporate?
The purpose of this post is to discuss the benefits, downsides, and challenges of setting up an international business.
Comment with what you want to know, or with what knowledge you can offer others based on your experience.
- Do you want to set up an offshore company but don’t know
where to start?
- Do you have questions with setting up legal entities or bank accounts?
- Do you have questions with regards to paying taxes and residency.
Before becoming a DN I worked in Dubai as a corporate service provider. I helped 100s of international entrepreneurs to set up their companies, engage in tax planning and obtaining residency. Most of them in Dubai, but also in other jurisdictions like Panama, Hong Kong & Seychelles.
Share your biggest struggles or tips!
I manage a French limited company. My business partner and I are digital nomads. The company pays all company’s expenditures and we pay ourselves for our plane tickets, accommodations, and so on. We would save a lot of money if the company could pay for some of our expenditures but we need to justify that these expenditures are for-business only. Have you ever have this experience?
More broadly, how can we optimize our corporate taxation as digital nomad companies?
One of my thoughts is to consider ourselves as expatriates. Therefore, the company should pay some of our expenses such as travel, accommodation, or school for children. It will be great for the company because it will decrease its profits (i.e. its taxation). But, how to justify setting up a expat contract?
If you have any advice for us and other digital nomad companies, please share
Baku, Azerbaijan v.s. Tbilisi, Georgia
What are the pros and cons of both destinations for an new digital nomad ?
Hey guys, I’m Mike and I’m in the process of moving to Thailand right now, I plan to register my company in Hong Kong and I heard there’s 16.5% taxes from some people and some people told me they pay 0% taxes…
What’s true here?
How much taxes do you actually pay in HK?
At this moment I am traveling the world. It has been a year since I have unsubscribed form the Netherlands and just keep on wanting to travel. I love the way I am living now but I do prefer to have a “home” base. And I think the best thing todo is get residency in a country where they are not counting the days you are there and has a territorial tax system.
My picks are:
Costa Rica, Panama, Malaysia
My question is however, because I am not going to be there alot I think its a waste of money to rent a appartment for 1500 or so per mont. Especially if I consider that my home address where I will be receiving bank docs etc I also do not want to have that sent to a sketchy home.
Do you happen to know a solution to this? For example would it be possible to have my home address at a Regus virtual office so that my mail will be handeled as wel?
I know the best option is to buy a house but that would be a very expensive mailbox
Hope somebody could help me on this!
I’ve been looking for some good tax advisors that specialize in international tax planning with no success. Seems like these guys work mostly with big corporations and not freelancers.
I’ve found some answers but since this is a lot of money in terms of taxes, I want to be sure and consult some professional first.
Topic to discuss are:
- where to incorporate to lower taxes with consideration to having good banking and payment processors options (Stripe, Braintree availability)
- does IP/patent tax regime also apply for software development consultancy? Example: Luxembourg has about 5% tax for IP related income vs 29% for anything else
- tax treaties
- advanced tax ruling options
- risk of big tax policy changes
- best method to pay myself: dividends vs salary with consideration to visa policies, tax rates and "anti disguised employment” laws in specific countries
This stuff is not trivial.
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