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Non-Personal alternative to maintaing a corporation for online business?


by @blueblueocean 8yr  | 2 comments

So Iโ€™m finding if you have a small online business, maintaining a corporation in a country that has many rules is just a headache. Lots of forms to file and even if you use an accountant you have to bring them up to speed, give them documents and receipts, itโ€™s almost the same amount of workโ€ฆOn the other hand, you save some money and donโ€™t usually make pension contributions.

Has anyone found a solution thatโ€™s easier? Like giving the business to a friend or family member and they can wire you funds as an employee perhaps?

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@lucha54 8yr

Wouldnโ€™t that mean your family or friend has to deal with the headache that you are trying not to deal with? What would be in it for them? If you paid them, wouldnโ€™t it be the same as โ€œbringing an accountant up to speedโ€? And might it have negative tax implications for the technical โ€œownerโ€ (like being put in a different tax bracket for YOUR companyโ€™s earnings)? Am i missing something here?

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It would be nice to turn business or controlled income into passive dividend or royalty income, like an annuity or insurance product that turns a chunk of capital into a stream of income.

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Read and participate in 14,117 discussions on Nomad List

Suggested topics

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What is the best online insurance for digital nomads ?


by @berberos 4yr 4 years ago  | 4 comments

Hi guys ! hope you are doing well.

I would love to get your feedback regarding the best insurance for digital nomads. i'm traveling around Asia since 1 year and for next 4 or 5 years. Would love to buy an insurance to cover especially :

- health

- laptop, phone ...

- Flights

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What's the best place to incorporate an online business?

 

by @octave 5yr 5 years ago  | 63 comments

I have an commerce website. We get around 1000 orders per month and this is going to get quite a bit bigger in next few years.

I am British. I live in Thailand.
Im not allowed to majority own a Thai business and small foreign entrepreneurs are not really welcome. So i need an offshore company.

I need PayPal and an ecommerce internet merchant account. Also looking at alternatives like worldpay. 2checkout etc

Does PayPal need me to be a resident to the country i register my account to? Are there complications being a non resident to get other payment solutions?

Apparently in Hong Kong you need 2 years trading history to get an Internet Mechant Account and they generally turn their noses up at those with less than $1m(us) a year turn over. Singapore seems a bit easier.

I really want to avoid paperwork and book keeping. I hate it.

So i was looking at Seychelles, Panama, BVI, Belize.

Does anyone have experience with payment providers in these countries?

Most nomads i see donโ€™t really have a high volume of small monthly transactions which i do. Im going around in circles and donโ€™t know where to start.

Ill also need a bank account for business and a personal bank account to pay my salary into

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Gaming Cheat Software Offshore Incorporation


by @pixels 5yr 5 years ago  | 1 comment

Greetings Nomads,

I recently closed a US company that was used to sell cheats or hacks for popular games due to imminent litigation.

I have just recently embarked on a similar venture, but working as a contractor. Myself, and my lead developer have just found ourselves in the position of not being paid and will need to re-establish ourselves.

Due to my experience in marketing, distribution and management I know running a company myself would still be a successful venture, I just do not want to run it out of the US.

Due to the nature and risk of litigation from large gaming companies I believe moving offshore will be the path I should take. I spoke with my attorneys, who basically made it sound like it would be impossible to set up without physically living somewhere, based on my past experience with these guys, and paying tens of thousands of dollars to protect myself just for them to say โ€œitโ€™s best to shut downโ€ the moment we were contacted by a gaming company, I am going to assume itโ€™s their lack of experience.

My questions are:

  1. As a service likely in the same realm as Adult Services or Gambling, with myself residing in the US and my Lead dev residing in Europe, what country would be a good option to set up with fair tax that cant easily be pressured by US or European game producers?

  2. In said country should I find and contact legal council there instead of using US attournies to fumble through this charging me exponentially more to just relay info and elongate the process?

Thank you in advance for any assistance.

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Pacific islands with decent internet speed to work online


by @paxai 6yr 6 years ago  | 1 comment

Any digital nomads that have lived for an extended period of time on a pacific island? I am planning on moving with my girlfriend for a 6 month period to a pacific island, and planning to live of copywriting and some other online work.

Have been looking at islands like Samoa, Tonga, Fiji, Cook Islands ++. Main problem is that many places seem to have expensive/bad internet speeds and access.

I dontยดt need superfast internet, but it has to be good enough for me to surf, send e-mails, download pictures, update webpages and so on. Either good internet cafes or the possibility to rent appartments with internet that doesnt suck or blow our budget.

Any recommendations for the perfect pacific island for working online?

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Best online Bank for Digital Nomads


by @nilanjan 6yr 6 years ago  | 0 comments

Hi All,
Can you suggest a cheap but reliable online Bank for Nomads?
What I meant by " cheap" is decent " service charges".

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Internet Speed (Teaching English Online)


by @teacher 6yr 6 years ago  | 0 comments

Hi guys.

Iโ€™ll be travelling to Peru soon to volunteer and thinking to teach online in Cusco. Iโ€™m wondering what the best set-up would be for speeds high enough to teach via video-platform online. Iโ€™m open to getting a SIM Card with a data package, getting a dedicated internet provider for a private apartment or using an ethernet cable to increase speed.

Thank you,
Seda

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Anyone here resident in Portugal with incorporation elsewhere in the EU? Need some advice


in Portugal by @solardive 7yr 7 years ago  | 0 comments

Hi everyone!

Currently looking at ridding myself of the 9-5 and becoming a freelance consultant. Iโ€™m not planning to go full erm, โ€œtax optimisationโ€, as I believe in taxes as a concept, but I would like to pay less of them so I can get my business off the ground with more peace of mind.

Iโ€™ve decided I want to apply for the Portugal NHR (Iโ€™m a EU citizen), but I donโ€™t want to incorporate there. Anyone here has experience with being a Portugal tax resident and running a company elsewhere? If yes, where and why did you choose that country/place? Is it a a lot of hassle?

Thanks!

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How do I open a business account in Hong Kong? Proof of business?


in Hong Kong by @omar 7yr 7 years ago  | 6 comments

Hello guys, I was wondering if anyone had any experience in opening a business bank account in Hong Kong. Iโ€™m getting all the paperwork ready to incorporate in Seychelles and open the bank account but the agency that is helping me says Hong Kong bankers are getting more picky. They are asking me for business โ€˜proofโ€™ since iโ€™ve always ran my sites as an individual I wonder if just proof of payment from ad networks is enough. If you have any advice it would be much welcomed.

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Advices about tax, location for incorporation, etc


by @anadesigner 7yr 7 years ago  | 2 comments

Hi nomads,

I and my husband are graphic designers and we work from home mainly doing services for UK. We have personal bank account in UK as we lived there for a while and we use it to receive payments and then use transferwise, but we are worried because we have no company there to declare these payments.

We are at the moment in Malta but moving to Portugal soon and we really would like to make the things right to avoid problems but also we need avoid pay lots of taxโ€ฆ I am researching a lot but not sure what to do. Would be very good to have a bit of advice to what way to go, where is the best country to open an offshore business for exemple?
We earn together about 25k euro year (brut).
Any advice or tip would be very welcome.

Thanks!

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How can I find a fair incorporation service in Hong Kong?


in Hong Kong by @otsuka1007 7yr 7 years ago  | 9 comments

Hello, Iโ€™m thinking about launching a new company in Hong Kong for an international EC business though Iโ€™m not a resident nor have any address, will not live in Hong Kong.
Iโ€™ve googled and found hundreds of incorporation service offices but donโ€™t have any idea which one is trust worthy, and which one is rip-off or con.
Can anybody recommend a specific service or tell me how to find a good service?

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What alternatives are there for bad WiFi in Latin America?


by @ryanleonard1989 8yr 8 years ago  | 10 comments

Hey gang, Iโ€™ve traveled pretty extensively through Central America and was recently in Colombia.

I love Latin America and want to continue to travel/work here, but internet connectivity is a constant issue. Hostel wifi is always hit or miss and when it does work, itโ€™s often slow or thereโ€™s no convenient place to work.

Cafes are even worse most of the time.

Iโ€™ve tried local sim cards with data and sometimes that works well, but skype calls eat the data right up and in many locations, the speeds are slow.

Iโ€™m willing to pay more for more reliable internet, but I havenโ€™t found anythingโ€ฆ

Wondering what most of you fine folks do and if anyone has any suggestions.

Also, what are some alternatives to hostels?

I know you can use AirBnB, but the locals jack the prices up on there (if youโ€™re in an area you can find anything on AirBnB). Apartment rentals can be found pretty inexpensively, but I like to stay moving and usually donโ€™t want to stay somewhere for even a month.

On top of all this, I like to surf and the coastal towns tend to be the worst for wifi.

Iโ€™m a little frustrated and wondering if anyone has any suggestions I havenโ€™t thought of?

Admin edit: Fixed title to lessen ambiguity & to adhere to community guidelines.

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What is the best online writing sites that you use for book writing / journaling?


by @booombox2000 8yr 8 years ago  | 2 comments

Iโ€™m sure there are a number of generic online resources but i would love to hear what folks have fallen in love with?

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What's the best location to incorporate an online business?


by @dmftaras 8yr 8 years ago  | 14 comments

Hey nomads,

Iโ€™m looking for the best location to incorporate my online business (offshore programming and so on).

The main requirements:

  • Low cost incorporation/yearly fee
  • Preferred with no audits (or other kind of paperwork)
  • With no local office/secretary/director needed
  • With low or 0% taxes
  • Easy to get paid from US/EU
  • Easy to send payments worldwide ( I can use Transferwise/Stripe or something like that, i donโ€™t care )
  • With corporate credit/debit cards

Iโ€™m only one owner of the company (not EU/US resident).
Iโ€™ve checked jurisdictions like BVI/Belize/Nevis and iโ€™m interested in it. It would be appreciated if you could give me some kind of advice, if you have experience with one of these jurisdictions.

My budget for incorporation < $1500

Thanks!

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Anybody knows of good online banks for Europeans?


by @kfk 8yr 8 years ago  | 6 comments

Ok, I was just writing a PM here on banks and the question popped in my head. I am not a digital nomad, but I am very close to that way of living, in the sense that I donโ€™t want to commit to any specific physical location, long term investment (maybe only private pension), long term in general actually.

Now, I use Deutsche Bank. Nothing against them, but:

  • I hate to have an account manager that calls me telling me I should invest my money
  • The online banking is good but not great
  • Services are ok, but I donโ€™t use most of them and the one I would like (online everything please) are not there

So, I was wondering if any of you is happy with any of the digital banks out there? Criteria for a good online bank:

  • minimal paperwork
  • no account manager
  • 90% async communication (I call them, they call me only if the house is on fire)
  • they donโ€™t request a physical address and they DO NOT SEND PAPER STUFF to my mailbox

Anything like this?

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Does anyone use paywithfire for business?


by @nouk 8yr 8 years ago  | 0 comments

Paywithfire is an online bank from Ireland that provides accounts in Euro & Sterling for UK or Irish companies. (with no debit/credit card)
The website allegedly allows to open a bank account online.

However, there business service seems to be in beta mode since a long time and there is no information about it.

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Any online personal trainer nomads over here?


by @juliusmaximus 8yr 8 years ago  | 11 comments

Was wondering if there are any nomads that fund their nomad lifestyle with online personal training services that I can connect with. Would love to exchange ideas and knowledge.

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Where to do online shopping in Thailand?


in Thailand by @adrienbetweets 9yr 9 years ago  | 6 comments

Whatโ€™s up dreamers?

Do you have any recommendation on where to do online shopping in Thailand?

I just got an external screen & accessories from Lazada.co.th: the price was good & delivery of the screen (to Koh Lanta) took only 3 daysโ€ฆ! This was way beyond my expectations.

Any other tips (& shared experience) would be appreciated.

ps. created the same conversation on the DN Thailand facebook group if you prefer participating over there https://www.facebook.com/groups/1069582656437496/permalink/1075943859134709/

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What's your online business as a nomad?

 

by @sarah1 9yr 9 years ago  | 28 comments

Iโ€™ve read so many articles, blogs and posts about โ€œhow to set up an online businessโ€, โ€œonline business tipsโ€ or โ€œbenefits of having an online business while you travelโ€ etcโ€ฆ

What I really want to know is what online businesses people actually have! As a noob nomad, enlighten me as to what you all actually do at your laptops while you travel! And why does this specific business fit into your lifestyle?

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Should I choose Lima or Medellin for expanding my business?


in Lima , Peru by @chris_mcguire 9yr 9 years ago  | 2 comments

Iโ€™m looking to outsource a portion of my business. I would appreciate your thoughts if you have experience in either place.

I need someone who speaks and writes near native English.
Does not have to be a college graduate but should be self motivated.
Access to high speed internet

Do you think I could find someone with the above criteria in Lima or Medellin? Any idea what I should expect to pay someone like that?

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What's an alternative to TripIt?


by @kathrynoh 9yr 9 years ago  | 8 comments

Iโ€™ve been using the Tripit app for all my travel arrangements but donโ€™t really find the interface that intuitive. Iโ€™d much prefer to work with things that are more visual.

I do download to my google calendar but even that isnโ€™t great because most of the detail goes into a drop down esp in the monthly view and gets hidden.

Are there any apps that can organise your travel details but have a visual/colour coded interface? Iโ€™d also like something that dropped off old details once they were complete.

Actually, my ideal (and Iโ€™m not sure if it exists) would include my trip details but have some kind of flag for gaps in my intinerary (eg. if Iโ€™ve got hotels booked in different cities but no transport between them or flights but no accommodation booked).

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