Hi, let me start by saying i’m an idiot when it comes to these things. I know all the infos are out there and I’ve been reading posts here as well as googling lots of blogs to find answers but there are just so many details and personal aspects that it leaves me dizzy! I’m hoping for a kind soul to share his/her wisdom with me in simple words. Bear with me while I try to wrap my head around this: I NEED: 1. to be able to get payed by international customers in Dollars and Euros mostly 2. A way to get to that money with a debit/credit card for online payments and ATM’s in whatever local currency needed (thinking of heading to Bali next) I AM: newly nomadic designer working with platforms like 99designs and upwork as well as some direct clients. I have swiss citizenship, but am no longer resident there, or anywhere else. I HAVE: 1. A swiss bank account (UBS) with CHF and no credit card (for savings not to be touched). 2. A spanish bank account (Deutsche Bank) with EUR with a debit and credit card for backup money. 3. A Paypal Account. The plan is to earn the money I need to live monthly and put it into a spending account and only touch the others (CHF/EUR) if I didn’t make enough money. So far I’ve come across these options: Paypal I already have a paypal account and It does some of what I want. Except I’d have to transfer my online money to my Euro Account to spend it with my spanish credit card. Which sounds like a lot of fees. Blog posts about nomad finances all seem to say paypal is an expensive option. Open Local Bank Accounts / Use Butcoins I would like the simplest solution possible. Opening new accounts for every country sounds like too much paperwork (which I hate with the intensity of 100 hell fires). Bitcoins? I’m already confused with all the real currency’s involved please don’t bring in digital ones… Payoneer Biggest plus: It is integrated in the platforms I work with (99d & Upwork) so I can pay out my earnings really simple and supposedly cheap. They also give me a Mastercard to spend that money and multi-currency “bank accounts”. But I’ve read really mixed reviews about it so I don’t know what to think of it in the end. Revolut: Seems to be just what I need. You get a Mastercard and . It seems like they have really low fees, good exchange rates and no ATM extra-charges? I read some good reviews (except customer service which seems to be terrible with both Payoneer and Revolut). Customers can pay me directly with the multi-currency bank accounts but I would have to find the best way to bring my earnings from 99d and Upwork into here (I read about a guy that uses payoneer to send money to his Revolut? Is anyone using a similar setup?) Travel Credit Cards I’ve read about those who are suposed to have low fees and no ATM-charges, have not done any research yet. So this is what my research brought up. Is there something I missed? Seems like getting to your money is harder than actually making it xD Does anybody with a similar situation have personal experiences and clear suggestions on this topic? I can’t seem to make up my mind between payoneer and revolut. I also read about Transferwise bringing in their own credit card but could not find any infos from them? I would really appreciate your inputs because as mentioned I find this all quite overwhelming and would love an easy solution that involves the least amount of paperwork/effort (even is I loose a few cents here and there if not possible otherwise) Thank you all!!

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How do you manage your money as a nomad?

by @visualista 6yr 6yr | 2 comments

Hi, let me start by saying i’m an idiot when it comes to these things. I know all the infos are out there and I’ve been reading posts here as well as googling lots of blogs to find answers but there are just so many details and personal aspects that it leaves me dizzy! I’m hoping for a kind soul to share his/her wisdom with me in simple words. Bear with me while I try to wrap my head around this:

I NEED: 1. to be able to get payed by international customers in Dollars and Euros mostly 2. A way to get to that money with a debit/credit card for online payments and ATM’s in whatever local currency needed (thinking of heading to Bali next)

I AM: newly nomadic designer working with platforms like 99designs and upwork as well as some direct clients. I have swiss citizenship, but am no longer resident there, or anywhere else.

I HAVE: 1. A swiss bank account (UBS) with CHF and no credit card (for savings not to be touched). 2. A spanish bank account (Deutsche Bank) with EUR with a debit and credit card for backup money. 3. A Paypal Account.

The plan is to earn the money I need to live monthly and put it into a spending account and only touch the others (CHF/EUR) if I didn’t make enough money.

So far I’ve come across these options:

Paypal
I already have a paypal account and It does some of what I want. Except I’d have to transfer my online money to my Euro Account to spend it with my spanish credit card. Which sounds like a lot of fees. Blog posts about nomad finances all seem to say paypal is an expensive option.
Open Local Bank Accounts / Use Butcoins
I would like the simplest solution possible. Opening new accounts for every country sounds like too much paperwork (which I hate with the intensity of 100 hell fires). Bitcoins? I’m already confused with all the real currency’s involved please don’t bring in digital ones…
Payoneer
Biggest plus: It is integrated in the platforms I work with (99d & Upwork) so I can pay out my earnings really simple and supposedly cheap. They also give me a Mastercard to spend that money and multi-currency “bank accounts”. But I’ve read really mixed reviews about it so I don’t know what to think of it in the end.
Revolut:
Seems to be just what I need. You get a Mastercard and . It seems like they have really low fees, good exchange rates and no ATM extra-charges? I read some good reviews (except customer service which seems to be terrible with both Payoneer and Revolut). Customers can pay me directly with the multi-currency bank accounts but I would have to find the best way to bring my earnings from 99d and Upwork into here (I read about a guy that uses payoneer to send money to his Revolut? Is anyone using a similar setup?)
Travel Credit Cards
I’ve read about those who are suposed to have low fees and no ATM-charges, have not done any research yet.

So this is what my research brought up. Is there something I missed? Seems like getting to your money is harder than actually making it xD
Does anybody with a similar situation have personal experiences and clear suggestions on this topic?
I can’t seem to make up my mind between payoneer and revolut. I also read about Transferwise bringing in their own credit card but could not find any infos from them? I would really appreciate your inputs because as mentioned I find this all quite overwhelming and would love an easy solution that involves the least amount of paperwork/effort (even is I loose a few cents here and there if not possible otherwise)

Thank you all!!

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@kathrynoh 6yr 6yr

My main source of income is fiction writing. I get my payments from Amazon sent to Payoneer and my payments from other retailers via a distributor sent to Paypal.

I use my Paypal account mainly for business expenses, and it’s easy for that because everything is in one place.

For me, Payoneer works because I get paid in $US so it’ s only one exchange ie. from $US to the currency of the country I’m in. Otherwise it’d be $US to the currency of the country my account is in to currency of the country I’m actually in.

It might not be the best option but I find it the easiest. As for customer support, the help on their site is crap but I’ve always had no issue when talking to a real person.

I also have an Australian bank account where I hold my savings, because you get no interest paid on money in Paypal or a Payoneer account.

One thing about Payoneer, you can only use it as a business account. You can use the card like any other MasterCard but you can’t top your funds or do any kind of non-business withdrawal. A while back, my Payoneer funds had gotten low and, because I hadn’t used my Australian bank account forever, I had blanked out on the PIN. I wanted to move from that account into Payoneer but it seemed next to impossible to do. It’s probably not something you have to worry about too often but worth knowing.

I’d say if you’re getting paid in $US, Payoneer is the easiest solution.

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@voskovek 6yr 6yr

I use Payoneer for some stuff, but it’s a bit expensive if you don’t use it to pay or withdraw in the same currency (You can get accounts in EUR, USD, JPY, and GBP). You always have to pay conversion rates for purchases, and on top of that ATM fees for withdrawals, and the exchange rate is usually not very good… But I use it to get money for some clients because I pay just a 1% fee per transaction if they pay me via ACH or SEPA.

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Read and participate in 14,117 discussions on Nomad List

Any Ph.D students dissertating while a digital nomad?

by @larsheather 4yr 4 years ago | 5 comments

Anyone know of any groups or resources for Ph.D. students working on dissertation while living as a digital nomad? I know there are several virtual writing groups around, but wondered if there were any specifically for digital nomads, particularly those who are dissertating.

Thanks!

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How do you invest internationally as a nomad?

by @mateuszwieloch 4yr 4 years ago | 17 comments

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?

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I dream of being a digital nomad? How do I do it?

by @programmingmark 4yr 4 years ago | 2 comments

Hello digital nomad!

I dream of being an independent digital nomad. But it feels very elusive & unattainable with my success rate. In full disclosure, whilst I have dreamed about making money online since high school; I have not earned a single cent making money online. $0, nada, zilch!! On the contrary, I have spent a lot of time & money on books, podcasts. Even though I have spent a lot of time reading/listening to others, I do not have anything to show for it!

I have made attempts in the past to start an online business, but these fizzle out quite quickly when I do not see traction especially when the goal I have set myself is too high.

Instead of reaching for the ultimate nomadic lifestyle goal, I want to start much smaller. Really small! I am simply looking to make $50 profit per month from a new online business. That’s it.

I need some advice from you please!

Is $50 profit too low? How long did it take you to earn $50 profit per month?
What is a good way of achieving this goal?

Thanks
Mark
aka the $0 online business entrepreneur

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Do you "out" yourself as a digital nomad?

by @larsheather 5yr 5 years ago | 2 comments

When you meet new people or reconnect with old friends, do you “out” yourself as a digital nomad? The simple question “where do you live?” makes us uncertain now. We wonder if some places may be less welcoming to digital nomads, or if “digital nomad” has a negative connotation in some places. If you are forthcoming from the start, does your status as a digital nomad make it hard to form friendships?

We would love to hear how other people navigate this… how to balance being authentic in relationships vs. withholding the context (and allowing people to assume you’re on vacation, for example).

Thanks!

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What's the best bank account for a global nomad?

by @barrybjjoubert 5yr 5 years ago | 25 comments

Dear all
As a wanna be nomad figuring out a way to get free of the rat race, I was wondering what is the best bank account to have while travelling the globe? I need an account where is easy for me to receive payments from all over the world and it also need to be a bank that I can find almost anywhere in the world. I want to avoid carry cash on me if it’s possible.

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Ko Lanta or Ko Phangan - which island is better for a digital nomad?

in Ko Lanta , Thailand by @melinda 5yr 5 years ago | 6 comments

I’m currently in Penang, Malaysia and I was thinking to head to Thailand next. What are the best islands in Thailand to get some work done? I was considering either Ko Lanta or Ko Phangan because those both islands have coworking spaces. I might need to take some client calls, also video. Is the wifi good enough? Are there any other differences between the islands?

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Where should I register my company as a digital nomad? Singapore, Hong Kong?

in Singapore by @raphadk 5yr 5 years ago | 14 comments

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?

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How do you manage working in different time zones?

by @clusk 6yr 6 years ago | 12 comments

For those constrained by their business’ time zone, how do you manage this?

My home office is in Los Angeles – though I could swing anything in Central/South America, I’m looking at going to Lisbon or Chiang Mai for a bit. Both of them are >=8hrs difference potentially wreaking havoc on the work + social life + sleep split. This is a common question for nomads but there doesn’t seem to be a lot of posting on the site about it.

What do you guys think? Any Americans working in Asia or Europe that does it well? I could likely negotiate with my supervisor to work in Eastern standard if I was in Lisbon/Europe, which wouldn’t be too much of a stretch. Noon 'til 8pm. A bit more manageable than Chiang Mai or Bali.

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Where to stay in Budapest as a digital nomad?

in Budapest , Hungary by @pparma 6yr 6 years ago | 2 comments

HI, I’m from Argentina: new to Nomad List, and to digital nomad life in general

I want to travel to Budapest on March for two months, can anyone recommend
the best area to stay?

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How do you manage your location independent business as a Nomad Entrepreneur?

by @vzablocky 6yr 6 years ago | 3 comments

I’d like to invite nomad entrepreneurs in this topic to discuss what are the challenges you face in filing taxes, insurance and banking complications, while travelling and running your business remotely.

Please share your thoughts! I would be happy to help!

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How do you receive physical mail as a digital nomad?

by @danielgenser 6yr 6 years ago | 81 comments

Does anyone have recommendations to handle physical mail? In the USA, I’ve noticed various services over the years where you get a physical address that you can change your address to, they receive your mail, scan stuff and send you PDF’s.

Has anyone used these types of services? Impressions?

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How to become a digital nomad?

by @levelsio 6yr 6 years ago | 1 comment

Here’s a sticky guide that I’ll keep updating with a clear path towards becoming a digital nomad as this is one of the most common questions asked.

MONEY
Get a remote job
Remote jobs aggregator https://remoteok.io
Work From Home aggregator https://wfh.io

Become a remote freelancer
Remote freelance agency https://toptal.com
Another remote freelance agency https://x-team.com

Build a remote business
???

PLACES
Find destinations to go https://nomadlist.com/cities
Travel guides https://wikivoyage.org
Travel guides (for SEA) https://travelfish.org
Research cost of living https://numbeo.com

Places to Work http://placestowork.net
Coffee places to work http://workfrom.co

GEAR
Packing list http://www.carryology.com/insights/insights-1/packing-list-of-a-digital-nomad/
Nomad List #gear channel https://nomadlist.com/chat/_gear
Nomad List Gear https://nomadlist.com/gear
SIM cards http://prepaid-data-sim-card.wikia.com/wiki/Prepaid_SIM_with_data

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How do you manage receiving mail without a permanent address in the Philippines?

in Philippines by @kaizenpreneur 7yr 7 years ago | 3 comments

Hello all,

I have a mail management service in the UK which all my mail gets sent to. This works fine 90% of the time and most can be dealt with digitally.

The other 10%, I need the mail sent on to me, which they do offer as a service. However, where I struggle is giving them an address to send it to in the Philippines, namely Manila.

I’ve used DHL for really important stuff, like bank cards, but it would be nice to have an address where I can forward certain mail. Anyone been able to set something up like this in the Philippines? Would a virtual office allow me to receive mail?

Thanks in advance

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Is anyone here an "investor" nomad?

by @gizmocaca 7yr 7 years ago | 22 comments

Hi. Newbie here.
Wondering if anyone here has expertise in being an “investor” nomad where you travel and live off investment income? I’m contemplating fleeing the rat race and wanted to throw out a few thoughts and ideas.

Have a UK passport so don’t get taxed on worldwide income whilst non-resident.
I’m thinking of residency in Malaysia (MM2H) or Philippines (Retirement visa).

In terms of generating tax efficient income:

HK, Singapore and UK don’t withhold tax on equity dividends or preference shares
USA doesn’t tax capital gains (but has nasty estate taxes on equities) for non-residents
USA debt securities (CDs/corp debt) do not withhold tax (w8-ben)
USA based p2p lending should be same as debt securities asset class hence no withholding
Eurobonds do not withhold tax on interest payments (look to have a spread of local currency bonds).

Would look to supplement by buying property (have my eyes on a few places in Philippines) to rent out. Would also look to invest in local businesses wherever I find opportunities.

Appreciate any advise or insight people might have!

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Has anyone got a mortgage in a foreign country, as self-employed nomad?

by @davidmumfordmusic 7yr 7 years ago | 3 comments

Have any of you nomads been approved for a mortgage in a foreign country?

I am a UK citizen, and now that I work online I’m interested in maybe buying a property somewhere else in Europe. I don’t particularly want to live in the UK, and house prices are ridiculous here anyway. I would much rather buy a little apartment in one of any number of European cities; just somewhere to have as a base in between travelling.

Has anyone ever done such a thing? How did the process work? Which country did you buy property in and how straight-forward was the process?

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How to find business partners as a nomad?

by @digital 8yr 8 years ago | 17 comments

Hi everyone,

Starting in May 2016, I’m taking a year and a half abroad to work and develop my online businesses. I’m making more than 10k dollars per month at the moment from mainly 2 revenue streams. It works well but we all know how things change fast online - that’s why I’m always looking to launch new businesses.

We all know how the team is important in each profitable business. That’s why I would like to meet other nomads to launch online projects together.

I’m more a digital marketing expert and have as well some web design + web development skills. My ideal vision will be to rent a house at 3 or 4 (a programmer, a designer, a marketer and an operations/sales expert for instance) and work together on new online projects (eCommerce, saas, or anything else that can be profitable). We can even be more in the house and would work on other/more projects. Because the team will probably be international, our projects can have a quick international scope (I’m French and I speak English and Spanish as well). We would change our location every 2/3 months to enjoy the nomad’s life

Do you find my proposition interesting? According to you, how can I improve it?
Or, do you know any other way to find business partners as a nomad?

Thank you very much for reading me,

Best,
D.

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Where should I incorporate my business as a digital nomad?

by @ajsnewman 8yr 8 years ago | 5 comments

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?

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How to best set up your taxes, residency and and business as a digital nomad?

by @theglobalcitizen 8yr 8 years ago | 60 comments

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!

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How do you manage noise when working in public space?

by @littleshiva 8yr 8 years ago | 15 comments

I’m an introvert: people distract and exhaust me, and my ideal working environment would be an empty room and silence. Next best is what I have whenever I’m in my own environment: the space is never empty, but it’s usually silent save for ambient noise. Working from public space involves dealing with noise levels that are, for me, entirely counterproductive. Right now I’m in a hotel lounge and was settling in to focus on a magazine layout job when all of a sudden they switched the music to something loud, upbeat and with lyrics. I put my earplugs in immediately, but I can still hear that crap, and my concentration’s shot. What do you all do to manage noise when working from public space, or what are your workarounds?

In my case right now, I’m here because I need several hours of electricity, not just the two hours max I could get at my off-grid location. My noise workaround is to come to town and recharge my laptop, then go back to the country to work, but for long amounts of time, that’s not an option for me (yet — but I’m working on it).

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