Setting up offshore is so easy. There are a few companies that already specialize in helping you to achieve that as a nomad. You pay around $2000 and you get a local offshore bank account and company setup and are completely tax free for lifetime as long as you travel frequent. I will do that nearly instantly when I start nomading.
Search for "global wealth protection", that's one company that does it. But there are so many, also cheaper once, that can do it for you. They have also a lot of knowledge and resources on their website. Otherwise it depends on where your home country is. For example in the USA you can never be tax free, as you have a maximum of 100-150k of non taxable income, everything over that, even if you are not living in the US is taxable. In most EU countries you have the 6 months rule, which means you need to have proof, that your home is for over 6 months in a year not in the country of origin. That can be sometimes a bit tricky. THe easiest is to go and deregister everything on your name in your home country. So you are not tied in anyway anymore to it. Also keep every receipt etc you get from hotels/apartments etc, so you can prove, that you were for that amount of time outside of your country. Also if you live longer then X months (normally 6 months) per year in one country, you are taxable in it and everything you have made while being there, you need to pay taxes on.
Marius Smith I have double citizenship Irish and Italian, 2 Passports. I think my best choice in the future will be declining the Italian Citizenship which has a very high taxation so that It will be clear that I just have to pay taxes in Ireland, even if I am travelling for a long time and not living (either in Italy or Ireland) for 6 months per year. I don't have the problem now, but it may become a problem in the future, then I will deregister my current address in Italy and close my Bank Account.. What do you think? My Irish passport says Irish citizen, but even If I lived abroad for years I never changed my Italian residency.. Thanks a lot
Chris, since your at the same distance to the camera, can you put it on manual focus or set a higher aperture so it's not hunting for focus like a potato? Otherwise, great tips as always!
I did already check worldnomads travel insurance as I may need one in the future. It does look good especially very clear the website and it includes a lot of sport activities, which is the main reason of doing health insurance.. but then I read some bad comments online and I don't really know if they really matter... as what I care is not small expenses but being covered for the big staff.. In the end I saw that there are other cheaper insurance that have a very low coverage, but probably they are like having no coverage at all and being waste of money.
Chris the Freelancer so this was the site www.reviewcentre.com/reviews102077.html I have to say, WorldNomads have 80 5/4 Star and 51 1 Star. If you read the reviews, they all about specific staff. Like one guy returning home and then asking for medical expenses from an injury got during the travel and healed in a hospital back home, another guy complaining that it does not cover cancellations on the plane, but WorldNomads is not a travel insurance anyway, I think is more of a medical insurance so that is more interesting for me as the airplane delay staff is a waste of money in my opinion. My personal opinion is that travel insurance are bad because they do not actually cover what is worth (medical expenses in very good hospitals), while they give you a lot of services which are a waste of money (call center, travel cancellations, luggage insurance..) World Nomads is more expensive that some other cheap travel insurance, but brings way more value and covers you during sports activities which is great...
Hi Chris! I've been doing coding for some time now and I really want to travel and surf while making a good living. My question is, what were u able to do with code when u first went nomad? how good at coding should i get before i start travelling?
Hey Urek. I'd definitely recommend securing junior development work before leaving your home country if you're from a western country. If not, I'm not really experienced in that area but the general idea is to go where the opportunities are. The thing is that hiring a junior remotely is a risky move for most firms so it's better if you find the work in person before had.
Hey Chris! love the VLOGS. I have a random question that Ive never heard any Digital Nomad talk about. Your life really depends on your laptop. What happens if you have a hardware failure or your laptop crashes. What do you do?
Hi JR. Yes, I keep the same phone but one of the first things I do in any new country is get a local SIM. These cost anywhere from $5 to $30 dollars for the month.
Hey Chris, how do you intend on finding work using React? Will you be looking for freelance gigs or a remote job? Upwork? I'm in a similar position, building a portfolio of React / Redux projects so I can begin finding that kind of work. Will probably use upwork to find freelance gigs but I was wondering if you had another idea.
I don't think that 'perpetual travel' is a means to avoid paying tax anywhere but my interview with Andrew Henderson about taxes may be of interest to you. ua-cam.com/video/vApjdDtmRlA/v-deo.html
Depends on the country and the amount of time we want to spend there. As Australians, we don't need VISAs for countries like Malaysia, Singapore and Thailand but we do need VISAs for Indonesia and Cambodia, for example.
Yeah, that is what I am finding out about a USA passport. I am 70 and have passive income. You have inspired me to become just a nomad. I am going to sell, donate or throw away everything I own that won't fit in a 46 liter backpack and one carry on and move to Spain first. But traveling on my passport I will have to leave the EU after three months for three months. Then, I can go back to Madrid. Chaing Mai will be my second three months. I was just hoping that you knew of another way to be a nomad without the three month issue. Maybe some day the laws will change. Thanks for responding. I watch every one of your great videos. I hope our paths cross someday. If so, I'll buy you a beer.
What I can tell when it comes to taxes there are countries which are quiet resticted, e.g. Norway, if you travel to Norway an work only one day there - you will be kept responsible to pay taxes in this country. and I assume, there are also other countries which have similar laws. I would consut and hire an accountant not to run into legal troubles.
Hey well i'm from morocco i live in marrakech and I have just begun learning how to code my goal is to creat my own app and to lanch in the app store.Can u please give some adcives or perhaps some important steps i need to follow to succeed in that.
Malak Hicham it's good to start with HTML , CSS and then JavaScript. after learn NodeJs + Express + template engine like Jade . then you can learn angularJS for front-end and then you can do a mongoDB database course. When you are finished then you can create websites and mobile applications with for example phonegap with use of ionic framework.
thanks there's a thing i'm too scared when i hear the java word all every person say that is too hard and complicated to understand but it's okey i'll try to deal with it!
Dennis Ent I have done some Angular.. I may consider putting tog Rails and Angular or Ionic and Rails.. The thing is that everybody tell me that working with Angular or other JS Framework + Rails API takes a lot more time... It takes way more time for building apps and right now Rails 5 has Turbolinks 5, which means they do caching, requests are very fast, like sometimes my request in development are just 50-100 ms (so immediate response) .. I don't know if it is really worth it Angular/React.. still JS is fun I would like to get more know-how in that field..
I recommend sticking with React Native, it's getting so popular, you can develop to ios, android, windows, web, VR, sketch, etc, almost with exactly the same code (and with NATIVE result).
You just need a tablet and you can use it as 2nd monitor with wifi... the thing of forex and gambling games.. I am not an expert, but may consider launching apps.. They pay for sure well, but there are regulations, which are national regulations (for ex. if you are running a website).. so that you have to be registered in that country and get some sort of license ...
Chris: I have quite a bit of experience in the world of trading. I would take issue with your answer in this respect: there are far too many countries where the internet access is not reliable. Example: Philippines is essentially a third-world country with rolling power blackouts in some regions, in some seasons. Internet can be slow or disappear completely for a time. Can't have that happen when one is trading. When I am trading, I need 24-7 super high speed internet access that is very dependable. One cannot be long cable and have the internet disappear for four hours, that can be very expensive. On the other hand, trading from places like Thailand or Hong Kong - where they understand the importance of high speed internet - absolutely a great idea. My advice to entalpa: do your research first to determine if the residents of a particular country (that you contemplate visiting) believe reliable internet is essential.
Miguel S Ruby on Rails is better of PHP Spaghetti :D ... I don't know about the framework they use but best options in Web Dev are Rails or Django.. This is just my opinion :)
No taxes means no free education, no free health care, in other words you just need rich parents to start and if everything goes well you'll gonna have a bright future :) However those with poor backgrounds won't have the same chances in their life and a lot of them end up using drugs and to commit crimes, because life doesn't only suck, but it is extremely unfair. Compare USA and Scandinavia and you'll get the basic idea of taxes. :)
Great resource, Chris.
Greetings from Chiang Mai! Good value mate, liking the new channel too :) Catch up sometime soon.
Thanks Graeme :)
Thank you for sharing your info 😎
As an alternative to After Effects, Motion 5 can be a nice compliment to FCPX
Setting up offshore is so easy. There are a few companies that already specialize in helping you to achieve that as a nomad. You pay around $2000 and you get a local offshore bank account and company setup and are completely tax free for lifetime as long as you travel frequent. I will do that nearly instantly when I start nomading.
Cool! Could you share those resources perhaps? That would be highly appreciated. Thanks!
Search for "global wealth protection", that's one company that does it. But there are so many, also cheaper once, that can do it for you. They have also a lot of knowledge and resources on their website. Otherwise it depends on where your home country is.
For example in the USA you can never be tax free, as you have a maximum of 100-150k of non taxable income, everything over that, even if you are not living in the US is taxable.
In most EU countries you have the 6 months rule, which means you need to have proof, that your home is for over 6 months in a year not in the country of origin. That can be sometimes a bit tricky. THe easiest is to go and deregister everything on your name in your home country.
So you are not tied in anyway anymore to it. Also keep every receipt etc you get from hotels/apartments etc, so you can prove, that you were for that amount of time outside of your country.
Also if you live longer then X months (normally 6 months) per year in one country, you are taxable in it and everything you have made while being there, you need to pay taxes on.
Thanks! :)
Marius Smith I have double citizenship Irish and Italian, 2 Passports. I think my best choice in the future will be declining the Italian Citizenship which has a very high taxation so that It will be clear that I just have to pay taxes in Ireland, even if I am travelling for a long time and not living (either in Italy or Ireland) for 6 months per year.
I don't have the problem now, but it may become a problem in the future, then I will deregister my current address in Italy and close my Bank Account.. What do you think? My Irish passport says Irish citizen, but even If I lived abroad for years I never changed my Italian residency.. Thanks a lot
How do you 'de-register' a residence address...
Chris, since your at the same distance to the camera, can you put it on manual focus or set a higher aperture so it's not hunting for focus like a potato? Otherwise, great tips as always!
Ok Taiga.
I did already check worldnomads travel insurance as I may need one in the future. It does look good especially very clear the website and it includes a lot of sport activities, which is the main reason of doing health insurance.. but then I read some bad comments online and I don't really know if they really matter... as what I care is not small expenses but being covered for the big staff.. In the end I saw that there are other cheaper insurance that have a very low coverage, but probably they are like having no coverage at all and being waste of money.
Feel free to share those with us if you're ok with that :)
Chris the Freelancer so this was the site www.reviewcentre.com/reviews102077.html
I have to say, WorldNomads have 80 5/4 Star and 51 1 Star.
If you read the reviews, they all about specific staff. Like one guy returning home and then asking for medical expenses from an injury got during the travel and healed in a hospital back home, another guy complaining that it does not cover cancellations on the plane, but WorldNomads is not a travel insurance anyway, I think is more of a medical insurance so that is more interesting for me as the airplane delay staff is a waste of money in my opinion.
My personal opinion is that travel insurance are bad because they do not actually cover what is worth (medical expenses in very good hospitals), while they give you a lot of services which are a waste of money (call center, travel cancellations, luggage insurance..)
World Nomads is more expensive that some other cheap travel insurance, but brings way more value and covers you during sports activities which is great...
Hi Chris! I've been doing coding for some time now and I really want to travel and surf while making a good living. My question is, what were u able to do with code when u first went nomad? how good at coding should i get before i start travelling?
Hey Urek. I'd definitely recommend securing junior development work before leaving your home country if you're from a western country. If not, I'm not really experienced in that area but the general idea is to go where the opportunities are. The thing is that hiring a junior remotely is a risky move for most firms so it's better if you find the work in person before had.
Hey Chris! love the VLOGS. I have a random question that Ive never heard any Digital Nomad talk about. Your life really depends on your laptop. What happens if you have a hardware failure or your laptop crashes. What do you do?
Well, hopefully that doesn't happen but if so, I'd just have to buy a new one, I guess.
Hi Chris, What do you do for cellular service? When you travel from country-to-country can you keep the same cellphone #?
Hi JR. Yes, I keep the same phone but one of the first things I do in any new country is get a local SIM. These cost anywhere from $5 to $30 dollars for the month.
Hey Chris, how do you intend on finding work using React? Will you be looking for freelance gigs or a remote job? Upwork? I'm in a similar position, building a portfolio of React / Redux projects so I can begin finding that kind of work. Will probably use upwork to find freelance gigs but I was wondering if you had another idea.
Haven't gotten to that yet but I will probably look at both freelance and a remote job
It would be great if you could do an interview with someone who avoids paying taxes at all legally by the principle of "perpetual travelling".
I don't think that 'perpetual travel' is a means to avoid paying tax anywhere but my interview with Andrew Henderson about taxes may be of interest to you.
ua-cam.com/video/vApjdDtmRlA/v-deo.html
Chris the Freelancer Thanks
How much time do you spend for work daily and how much do you have to actually explore your place area and new country?
Varies completely but I try to keep work to regular hours (ie. 9-5 - Mon-Fri)
Hi Chris, do you think that in the future you will create a co-working space in partnership with other digital nomads? Great video, by the way.
That is a possibility, yes. Just need to find a place that I would want to settle in long term.
Chris the Freelancer Morocco looks like has got potential
How do you travel from country to country? Do you travel on your passport or do you have visas for all the countries to move to?
Depends on the country and the amount of time we want to spend there. As Australians, we don't need VISAs for countries like Malaysia, Singapore and Thailand but we do need VISAs for Indonesia and Cambodia, for example.
Yeah, that is what I am finding out about a USA passport. I am 70 and have passive income. You have inspired me to become just a nomad. I am going to sell, donate or throw away everything I own that won't fit in a 46 liter backpack and one carry on and move to Spain first. But traveling on my passport I will have to leave the EU after three months for three months. Then, I can go back to Madrid. Chaing Mai will be my second three months. I was just hoping that you knew of another way to be a nomad without the three month issue. Maybe some day the laws will change. Thanks for responding. I watch every one of your great videos. I hope our paths cross someday. If so, I'll buy you a beer.
What I can tell when it comes to taxes there are countries which are quiet resticted, e.g. Norway, if you travel to Norway an work only one day there - you will be kept responsible to pay taxes in this country. and I assume, there are also other countries which have similar laws. I would consut and hire an accountant not to run into legal troubles.
I recorded an interview with the Nomad Capitalist if you're interested in hearing more about taxes - ua-cam.com/video/vApjdDtmRlA/v-deo.html
Hey well i'm from morocco i live in marrakech and I have just begun learning how to code my goal is to creat my own app and to lanch in the app store.Can u please give some adcives or perhaps some important steps i need to follow to succeed in that.
Learn either Swift (for IOS), Java for (Android) or React Native (for both).
I started with html and css.
Malak Hicham it's good to start with HTML , CSS and then JavaScript. after learn NodeJs + Express + template engine like Jade . then you can learn angularJS for front-end and then you can do a mongoDB database course. When you are finished then you can create websites and mobile applications with for example phonegap with use of ionic framework.
thanks there's a thing i'm too scared when i hear the java word all every person say that is too hard and complicated to understand but it's okey i'll try to deal with it!
Malak Hicham send me email. I can teach you JavaScript and NodeJs .
Hey Chris, fyi you have German viewers as well ;)
The link for question 8. is one minute off.
Hey! I know about you guys ;) and thanks for the tip off. I've changed it now.
Are you going back to Chiang Mai? You seemed to like it so well there. Just curious.
No plans to return this year but maybe in 2018.
FYI U HAVE INDIAN VIEWERS TOO BUDDY.. LOVE UR VIDEOS..AND VLOGS GONNA SUBSCRIBE ANOTHER CHANNEL OF UR..!!
Thanks Mani. I know about you guys!
Girls can code too!
MsLemons12 Nope, coding is for guys only...
+MsLemons12 No way! I guess the next thing you're gonna say is that they're driving cars now too. *lol*
hi Chris is it must to Learn Drubal and joomla if you already know WordPress thanks.
No. Drupal and Joomla are separate systems.
I checked World Nomads and the site asks for the end date of your trip. Has this changed?
Not sure sorry. Might have to ask them.
I've worked with Angular 2 and React and I highly recommend learning Vue. It takes the best of both react and n2 frameworks.
Thanks Dennis. I'll look into it.
Dennis Ent I have done some Angular.. I may consider putting tog Rails and Angular or Ionic and Rails.. The thing is that everybody tell me that working with Angular or other JS Framework + Rails API takes a lot more time... It takes way more time for building apps and right now Rails 5 has Turbolinks 5, which means they do caching, requests are very fast, like sometimes my request in development are just 50-100 ms (so immediate response) .. I don't know if it is really worth it Angular/React.. still JS is fun I would like to get more know-how in that field..
I recommend sticking with React Native, it's getting so popular, you can develop to ios, android, windows, web, VR, sketch, etc, almost with exactly the same code (and with NATIVE result).
can I travel and trade forex?
If all you need is a computer and an internet connection, I can't see why you can't do it from anywhere.
I know a prof. trader that does it often. It's not the optimal solution, but you can for example get a second mobile monitor, that helps.
You just need a tablet and you can use it as 2nd monitor with wifi... the thing of forex and gambling games.. I am not an expert, but may consider launching apps.. They pay for sure well, but there are regulations, which are national regulations (for ex. if you are running a website).. so that you have to be registered in that country and get some sort of license ...
Chris: I have quite a bit of experience in the world of trading. I would take issue with your answer in this respect: there are far too many countries where the internet access is not reliable. Example: Philippines is essentially a third-world country with rolling power blackouts in some regions, in some seasons. Internet can be slow or disappear completely for a time. Can't have that happen when one is trading. When I am trading, I need 24-7 super high speed internet access that is very dependable. One cannot be long cable and have the internet disappear for four hours, that can be very expensive. On the other hand, trading from places like Thailand or Hong Kong - where they understand the importance of high speed internet - absolutely a great idea. My advice to entalpa: do your research first to determine if the residents of a particular country (that you contemplate visiting) believe reliable internet is essential.
oh, I thought that you were programming in ruby on rails
That was 2 years ago bro :)
Miguel S Ruby on Rails is better of PHP Spaghetti :D ... I don't know about the framework they use but best options in Web Dev are Rails or Django.. This is just my opinion :)
fabrizio bertoglio Thanks, I'm a ruby on rails developer ;)
What are your 1 year, 5 year, 10 year goals? Do you want to be a digital nomad forever?
That's a good question but I don't really have a 1 to 10 year goal and I don't see myself being a digital nomad forever.
I think most of the developers end up back in their country (Europe/Australia) and doing some long holiday every year of 3/4 monts..
denise is making to much money then u take it in positive way
i wiwsh taxes did not exist ahhaha they are confusing af
No taxes means no free education, no free health care, in other words you just need rich parents to start and if everything goes well you'll gonna have a bright future :) However those with poor backgrounds won't have the same chances in their life and a lot of them end up using drugs and to commit crimes, because life doesn't only suck, but it is extremely unfair. Compare USA and Scandinavia and you'll get the basic idea of taxes. :)
+Pekka Korhonen free eduaction and health care does not happen everywhere hahaha yes the difference between US and scandinania is huge
Pekka Korhonen then how come in America we dont have any of that stuff for free lol