Clear search
Remote Jobs 2   Nomad Insurance   Chat   Meetups   Visas & Residency New   Climate Finder   Forum   FAQ   Dating New   Members   Hire Remotely  
๐ŸŒ Go nomad ๐Ÿ‘‹  Log in
Nomad List Frontpage ๐ŸŒ—  Dark mode โค๏ธ  Your favorites ๐Ÿš‘  Nomad insurance ๐Ÿฅ  About
โค๏ธ Dating app ๐Ÿค  Friend finder ๐Ÿ’ฌ  Chat on Telegram ๐Ÿ’ˆ  Host meetup
๐Ÿน  Attend meetup ๐ŸŒŽ  Members map
๐Ÿœ  Explore ๐ŸŽ’  NomadGPT ๐Ÿ“ธ  Vote on photos โ‰๏ธ  Where Was I On ๐Ÿ—“  Residence calendar ๐Ÿ’ธ  FIRE calculator ๐ŸŒค  Climate finder ๐Ÿ’ฅ  Fastest growing ๐Ÿ“Š  Nomad stats
๐Ÿงช State of remote work new ๐Ÿ“œ  History of nomads
๐Ÿ•ธ  Network graph ๐Ÿ”Œ  Fastest internet ๐Ÿ†  Best place now ๐Ÿ”ฎ  Random place ๐Ÿ”ฎ  Random good place
๐Ÿ“ˆ  Pageviews (614K/mo) ๐Ÿ—ณ  User rating 9.0/10 (n=5,461) ๐Ÿ›ฐ  Remote jobs โœˆ๏ธ  Best airlines ๐Ÿ—บ  Neighborhoods ๐Ÿ  Coworkations Interior AI AI Avatars Photo AI ๐Ÿ†˜  Support
Money Chat

All Channels
# latvia29d # san-francisco1mo # space1mo # dominican-republic1mo # nicaragua1mo # saudi-arabia2mo # _stable-diffusion2mo # finland2mo # qatar2mo # oceania2mo # montenegro2mo # __announcements2mo # _taxes-intl2mo # slovakia2mo # canary-islands2mo # israel2mo # morocco2mo # lebanon2mo # bosnia3mo # _lgbtq3mo # europe3mo # norway3mo # united-arab-emirates3mo # venezuela3mo # latin-america3mo # mauritius3mo # ireland3mo # serbia3mo # _parents3mo # new-zealand3mo # fiji3mo # belgium3mo # uruguay3mo # slovenia3mo # _photography3mo # laos3mo # costa-rica3mo # jamaica3mo # _design3mo # sweden3mo # russia3mo # _flying3mo # _legal3mo # _books3mo # croatia3mo # _taxes-us3mo # malaysia3mo # romania3mo # czechia3mo # ukraine3mo # _productivity3mo # nepal3mo # austria3mo # south-africa3mo # _overland-travel3mo # mongolia3mo # new-york-city3mo # estonia3mo # guatemala3mo # argentina3mo # taiwan3mo # middle-east3mo # _music3mo # chile3mo # austin3mo # cambodia3mo # _for_rent3mo # _housing3mo # miami3mo # _insurance3mo # _outdoors3mo # _food3mo # _freelance3mo # kazakhstan3mo # china3mo # denmark3mo # france3mo # panama3mo # georgia3mo # africa3mo # puerto-rico3mo # lithuania3mo # bulgaria3mo # _fitness3mo # _relationships3mo # asia3mo # hong-kong3mo # dubai3mo # ecuador3mo # colombia3mo # albania3mo # netherlands3mo # _crypto3mo # _show-and-tell3mo # japan3mo # _jobs-talk3mo # australia3mo # philippines3mo # _coders3mo # _money3mo # ___introductions3mo # _marketing3mo # egypt3mo # _pets3mo # _startups3mo # mexico3mo # _bargain-travel3mo # united-kingdom3mo # _gear3mo # italy3mo # sri-lanka3mo # malta3mo # south-korea3mo # paraguay3mo # vietnam3mo # thailand3mo # bolivia3mo # brazil3mo # bali3mo # indonesia3mo # peru3mo # portugal3mo # canada3mo # poland3mo # north-macedonia3mo # greece3mo # cyprus3mo # turkey3mo # united-states3mo # luxembourg3mo # hungary3mo # spain3mo # singapore3mo # india3mo # switzerland3mo # germany3mo
bestan 2mo
For someone genuinely interested and looking to learn about more examples, Market Wizards book series by Jack D. Schwager and Chat With Traders podcast are pretty awesome. Just people sharing their stories.
borowis 2mo
> You invest in gold because gold has value. Gold is limited. Gold is you thinking, my currency is gonna inflate so much next year, I'd rather have gold, because gold has more value.
yeah, I get your analogy. fwiw, I don't invest in gold (or other precious metals) either ๐Ÿ™ˆ
luskira 2mo
But then what's the fun without any of the wallstreetbets degeneracy?
luskira 2mo
That's when the fun begins, using options to make life more exciting never fails
Real estate is a great game. I've been investing in Hamilton, ON, Canada since 2011, but recently started expanding my portfolio to the Caribbean.

I've also looked seriously at Portugal, Malaysia, and Costa Rica.
nomador 2mo
Hi everyone, Iโ€™m building a smart trading journal that supports several brokers. If you are an active trader, and want to improve your game, the following might be for you:

Iโ€™m offering a free 1-year usage during my prelaunch to gather feedback on existing and upcoming features. If anyone is interested, please contact me or ask here. The service is called tradepapyrus .com.
Cheers !
tsyrak 2mo
hi there! does anyone have experience selling their services? i'm selling b2c but now companies want to get my service under a white label. i think i'm in the habit of underpricing myself. talking to someone who has experience selling their services to business wouldn't hurt ๐Ÿ˜ฎ
hugohb 2mo
What skills are you selling, and in which field?
tupeoj 2mo
Hi, I got my phone stolen on Friday in Antwerp, Belgium and my credit cards went with it. Does anyone have an idea about how long do Western Union cash-pickup transfers take? Or do you have other suggestions for getting cash received from abroad? I may be able to sort things out with my bank tomorrow, but I'm considering this as a last resort.
Hi, my Credit Card was once blocked when i was in colombia. I just used online Banking and the WU app. Could get Cash right away
Western union transfers work instantly. Iโ€™m having a similar problem and i havenโ€™t found another way to get cash :/
aguelmann 2mo
I'm a consultant for 12+ years, happy to help
ejrsbvtd Depending on what services you are selling there is not much difference in providing the services. Localization can be tricky with VAT on your invoices. You should def consult your accountant as he knows your business situation ๐Ÿ™‚
Hey! Looking for a global tax/ stripe expert who can help pls? In short, my business is registered in Estonia, my clients are mostly individuals paying for an online coaching service/ programme. They are across the world in 40+ countries and all US & Canadian states. Stripe is saying I need to register in every country I'm doing business, but surely this isn't right? Please help! My accountant service with Companio is useless to help with this!
I know that Paddle payment system cover taxes
debbiec 2mo
Revolut now has a shared joint account option too, thatโ€™s what iโ€™ve been using with my partner - works great
I just talked with a friend who sells with Stripe internationally. he is definitely not registered in every country he sells products to people in. Where is this direction coming from with Stripe? He said:

> if it's coming from stripe support i wouldn't necessarily trust it, i've had several awful experiences with them
> they're not accountants or lawyers
Thanks so much. So i have an issue where all payments, despite having automatic tax checked off and them entering their address, the payment defers to estonian tax rate (20%). Stripe say i need to register in the countries, my accountant is no help and im frustrated as hell!
I have no idea about how that applies to Estonia. Also, 20% tax, yikes
bestan 2mo
Do I understand it correctly that you're selling to consumers and not businesses? If selling to consumers, you do typically need to charge tax based on their location depending on what kind of product/service, how it's delivered etc., and you do need to forward that tax to the respective government. You don't charge Estonian VAT to US consumers, for example. For you to forward that tax, you do need some kind of registration with that government for reporting. It's not a complete incorporation in those countries, but rather a foreign entity tax registration. For example, MOSS covers all EU countries. Not sure what needs to be done with the US and other governments, but what Stripe says makes complete sense to me in this context.

B2B online services are much easier - you don't charge Estonian VAT or sales tax of any kind to your non-Estonian customers. There're some exceptions like Estonian B2B customer or EU B2B customer that isn't VAT-registered.
tupeoj 2mo
Thanks. Western Union did indeed work instantly and really saved me.
thanks all for your help! any suggestions on a good alternative to stripe thats imntegrated with circle too. preferably?
maybe you need to check circle integrations?
so circle have told me to spk to stripe, stripe have told me to spk to my accountant and guess what my accountant has told me to do??
bestan 2mo
What do you expect from the alternative? Allow you to charge consumers without collecting and forwarding appropriate taxes? I'm checking PayPal - they are going to request the same thing (at least for the US). It looks like US sales tax reporting thresholds for payment processors changed from $20k of gross sales down to $600 in 2023, explains why they are stricter about it for US sales.
i have friends in stripe and they told me to check taxjar product that was acquired by stripe
tbh, I think that you are overthinking, on your scale probably you can just ignore small local taxes
No qzitlrmn - I'm not looking to avoid tax at all! Stripe is automatically adding a 20% tax rate on based on estonia, even if the client pays from a US (OR OTHER CONTRY) card. This is not right, but i cant seem to change this. Thanks uvqvtgxfecxvvsb -
iujtgvktesqnpfcun if you can't find solutions, let me know

I can ask my friends, they are engineers, but at least they can point out some direction
Also, from my knowledge of taxation, seems like incorporation in the UK might be better for you

It's not EU and you need to pay VAT only on the UK clients

not a financial advice
bestan 2mo
No, UK company will have to charge US sales tax, EU VAT and other local taxes just like Estonian company. Your business location makes no difference for digital B2C transactions.
bestan 2mo
pyatfgxvyuxxygdzy Stripe tells you need to be registered to collect respective taxes. Why don't you register with tax authorities where you'd like to do business?
bestan 2mo
You don't charge UK VAT, but you do charge EU vat if imported into the EU ๐Ÿ˜‰
xmohvzyg you are right

but seems if I am selling b2b, I don't need to pay VAT
the more I learn about different tax systems, the more I hate them ๐Ÿ˜…
bestan 2mo
That depends on the nature of the product, how it's delivered etc. But generally yes, B2B is often simpler. See my first message in this thread.
thank you U03M0VB0FT3. i may take you up on your offer as im getting nowhere with this stripe circus! qkexfysw - you propose i set up tax in over 100 countries/states??
bestan 2mo
Well, yes, if you're looking to sell to consumers in over 100 countries directly
bestan 2mo
Another alternative is selling through a third-party, like app developers do - Apple and Google handle all tax and compliance, and you simply B2B invoice them for your share of revenue. Looks like Paddle acts as this third-party rather than a payment processor. Worth investigating but it would mean your customers are invoiced by Paddle, not you directly.
thanks a lot
jonyale 2mo
For anyone who uses AMEX and gets rejected in Europe I just discovered that if you load it into your iPhone wallet and use your phone to charge it works
kethle 2mo
the market is a retesting machine. learn pivot points if you haven't already.
jonyale 2mo
Maybe doesnโ€™t work 100%. Just tried in a Vodafone and got rejected. Their POS prob more sophisticated and picked it up ๐Ÿคท
nope, that wonโ€™t help
jonyale 2mo
Iโ€™ve been doing it and my success rate is higher. So it helps me. From a technical standpoint maybe does nothing but bypasses cashier saying โ€œnoโ€ which is the bigger issue since I think fewer POS disable AMEX
anandb 1mo
Hey fam, I used to be a resident in Germany and was using Wise to do online my tax residency changed to India and wise does not allow me to transfer online transfer .. my bank does not have transparent transfer rates(commerzbank).. if i want to transfer money from Germany to India(personal - personal) and i am not a resident in Germany, is there any service that could be used?
Hey, if you still have German ID you should be able to open an account with Revolut or N26. If not, then try TransferGo or Remitly that are specializing in online transfers.

Furthermore, remember that if you keep running an LTD in the UK, or within the EU e.g. in Estonia, then you'll be able to keep a business account with Wise (or Revolut).
How does Revolt even know that you are not longer a resident? ๐Ÿค” I've been using my DKB account with my parents address for 10 years. In UK I just use my last address everywhere (with mail forwarding to a scanning service)
anandb 1mo
I checked in revolut sub reddit and there are theories like revolut using the phone location buying pattern etc .. I have seen some other German citizen in reddit saying that their account was frozen after a few months as he moved to Vietnam.. the account frozen things are mainly about crypto traders but I also see that others like me have got their account suspended
jnic 1mo
I think Revolut have been tightening things up in compliance, in anticipation of applying for a banking licence, to avoid yet more ire from regulators
Yes okhipnit I run an LTD in the UK and have both Wise and Revolut for it. Everything works seamlessly, even after Brexit.

Since 2022 I'm a tax resident in Portugal, so I switched my Revolut to this country.

<@UPU5155BJ> Revolut already has a full banking license from Lithuania and all EU users are covered with it. Now they're obtaining a sub licences in many countries to offer local IBAN.

Regardless, they need to follow the KYC standards and it's hard for me to say if it's tightening. It's been my main bank account for years and I personally never had issues with frozen account etc. But I'm also aware of do's and don't's to keep my bank record clean and don't get any red flags.

Moreover, Revolut and Wise are the only fin techs that catch up with my nomadic life. For me staying in one place for months or years never caused any issues in these services.
pravin 1mo
Revolut, Remitly, Payoneer - for anywhere in world to india (used it with clients)
simonu 1mo
fyjchyljuggd I would be interested on the dos and don'ts to keep the revolut record clean. My account wasn't frozen so far and I want to keep it that way :D
valoo 27d
Hi ! For nomads who look for an interesting legal way to avoid taxes, I found a service that lets you create invoices on your name but as being a member of their company. It costs 5,9% of the invoices, and that's all. But to be sure i think in most countries you have to not stay more than half the year inside their borders. Of course depends on your countries and to double check with a lawyer opinion
valoo 27d
iyvwmsxaqoqwep sounds risky to you ?
gaborsch 27d
sounds like a pretty clear case of tax fraud
valoo 27d
It looks legit to me itโ€™s Xolo they are regulated and everything
valoo 27d
But I may be wrong
marksan 26d
As soon as that money hits your bank account you need to pay tax on it
valoo 26d
So what's the goal of Xolo ? Actually that makes sense. The one who suggested me to subscribe is a millionaire suggesting this especially for my nomad lifestyle... Also regarding my tax lawyer from France it's legit but I didn't check with an Estonian one
marksan 26d
you can use it for tax optimisation if it works in your situation, but tax evasion is a crime. You have to pay income tax somewhere.
alvian 26d
It will be legal only if you pay 5.9% to Xolo + Your residence country income tax.
So it doesn't make sense because you can work and pay only Your residence country income tax.
froggert 23d
Yes, first determine where you are a tax resident. If you donโ€™t like the country, leave and establish yourself elsewhere, then ensure you have a tax declaration between the new country and your country stating you are a tax resident in the new country. Then Xolo may make sense, but even then, better to just establish a company there and invoice yourself, no need to pay 5.9%
valoo 23d
Right. Whatโ€™s the matter of their stuff then? Just when people canโ€™t invoice with their own company?
froggert 23d
Starting a company in a country you donโ€™t know can be a headache. Xolo has the legal entity already there. Xolo foes taxes and all of that, so takes that headache most freelancers loathe, away
luskira 22d
I was under the impression that if you stay less than 183 days in a year in a country, you don't pay taxes on it. But you do pay taxes on the last country you stayed 183 days in. Is this assumption correct?
luskira 22d
For example, I lived for 2 years in country X, then I go nomad and travel every month to a new country for a year. Do I only pay taxes on country X?
borowis 22d
it's complicated ๐Ÿ™‚ for example, the US might be notoiously hard to get rid of tax obligations
borowis 22d
in general tax residency is amount of time you spend in a country and/or significant business/family/property ties with a country
borowis 22d
that's this 2nd point which is vague and is causing trouble. because previous country where you lived might still consider you a tax resident and demand taxes, say because you have family in there and visited them once or twice a year. then you have to prove you weren't actually a tax resident
borowis 22d
In general, I think this question requires tax lawyers consultation if tax obligations are high because risk to screw up is also high
borowis 22d
however, if you stayed less than 180 days (rounded it up for simplicity) you have mostly nothing to worry about
> I was under the impression that if you stay less than 183 days in a year in a country, you don't pay taxes on it. But you do pay taxes on the last country you stayed 183 days in. Is this assumption correct?
It's definitely a simplification and can vary greatly depending on the countries involved, but yes, I believe in most cases this is correct
dthompson 22d
It's an over-simplification. Another over-simplification would be to say "You pay taxes where the work is done" but also applies to many countries and tax systems.
tax residency stays where it is until challenged
when you stay 183 days in a 365 day period in most countries, they will consider you a tax resident and that may or may not require relinquishing your former tax residence
if you never stay 183 days in a particular country, generally your tax residency will not be affected and you'll continue paying taxes in the same place
mhenrixon 21d
Except for Germany. The German authorities let you go without demanding you keep paying taxes except for the current year.

They currently donโ€™t follow up so you kind of end up in a Grauzone where you can actually avoid paying taxes.

It isnโ€™t without risk and not all countries use those 18x days so have to be careful.

Check out or their English equivalent.
I use Wise as a bank for my freelancing business. I got an email asking me to explain how I find clients. It's like an anti-money laundry check, which makes sense, and I answered immediately. The thing is that now my case is in a very long queue and my account will stay frozen until it's reviewed. It's been 2 weeks. They've effectively stolen the money I had in that account (EUR27,000). I guess I'll get it back at some point ๐Ÿ˜ฌ :pray:...

a) โš ๏ธ I strongly want to warn anyone from using Wise for your business. :warning:
b) has anyone been in the same situation and gotten out of it? ๐Ÿ˜… Can I involve a lawyer to speed things up?
jawills 20d
Is this the wise personal account or the wise business account?
It is usually very straightforward with them. If you have a website with company info, all smooth and easy.
Yeah, "usually" working is not good enough for banking. ๐Ÿ˜‚
Like no real bank would freeze you're account and then not talk to you for 2 weeks. But I guess everyone isn't as picky as me and that's why Wise is still in business ๐Ÿคท
jnic 20d
It looks like Wise is regulated as a Payment Institution in the EEA, an "investment firm" in Estonia and an Electronic Money Institution in the UK () โ€“ so not actually a bank
Yeah, I can tell now that it's not an actual bank. I should have done my research before signing up... ๐Ÿ˜ฌ
โ€œUsually workingโ€ basically applies to any bank. Everything works fine, until one day it doesnt.
jnic 20d
Yeah, banks aren't necessarily better, since everyone has to play by the same AML rules that tend to cause these issues
I used a regular bank as a freelancer for 5 years and never had an issue. I used Wise for a few months and this happens. This is not normal.

The issue is not AML rules, the issue is that they let the case sit on the backlog for 2 weeks. That's insane! I have 2 transactions per month (one incoming, one outgoing) - this is not a complex check.
Sucks, but not much can be advised here, you can try to escalate the case through support, there was even an option to call them a while back, maybe still is.
And if you are looking for wise alternatives - dont use Revolut business. Those guys are proper nuts. )
I did talk to support. There's an option to close the account and have money sent back to my client. But that will take 2 weeks, and I'm supposedly at the front of the line for the AML check, so I don't know if I wanna lose my spot... :grimacing:

I actually did open a Revolut account ๐Ÿ˜… I can't sign up with a real bank on short notice. I've got an Estonian company through Xolo and would have to go to Estonia to do that. I'm getting rid of Xolo and my Estonian company soon though ๐Ÿ‘€
mhenrixon 20d
I was fortunate enough to have Wise cancel me before I got started.
I do envy you ๐Ÿ˜‚
moltar 19d
I feel like I have started to hear more and more negative stuff like this about Wise. I guess they'll be at the PayPal level soon enough. Need to start diversifying! I have real bank accounts too, but still. If a client deposits 20K and they immediately freeze it, then having a bank account is of no help.
moltar 19d
thread Starting a thread above for alternatives to Wise. Given that there seems to be more and more negative sentiment towards Wise that I see online constantly, wondering if it's time to diversify to something else.

Does anyone have any good alternatives for Wise?
moltar 19d
I use GoCardless too. Haven't put a great deal through it yet, and even the small stuff, the UX is just horrendous. So not saying I can recommend them, but listing them as an alternative for complete reference.
unglud 18d
oxyc 18d
not the common case but for reference, as someone whoโ€™s never been able to use wise business (and whose bank banned transfers from revolut)โ€”IBKR for currency exchange has great rates and is reliable. swift fees are nothing compared to shitty local bank forex ratesโ€ฆ i just wish ibkr had a good debit/credit card so one could use it as a bank account
moltar 18d
Iโ€™m mostly interested in ease of UX than exchange. I need to seamlessly receive and send payments.
I got almost half of my money refunded to my (new) Revolut account and the rest was (supposedly) refunded to my client! :tada:

If anyone else is having the same problem, then what I think did the trick was that I asked to have my account closed. I _think_ the queue for closing accounts is way shorter than the AML queue. But I don't know for sure.
โ€น โ€บ
USD โ”€ $
Nomad cost
โœจ To see all results
Go nomad
by @levelsio