Frontpage
๐ Dark mode
โค๏ธ Your favorites
๐ Nomad insurance
You won't be notified by email when a reply is posted, to change your notification settings. Posts must follow the TOS: No ads, self promotion, commercial posts, surveys etc. For customer support questions, don't post here but use the feedback box in the bottom right of this page instead.
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? Iโm a EU/Poland citizen, how would I transfer my money back and forth without incurring significant fees?
For me itโs more the 800 questions. Why donโt you live in your country of citizenship? Why do you have a US number then? (decent internet SMS service) Whereโs your utility bill? Why is the funding coming from an account in x-country? On and on and on.
Itโs like โฆ are we living in 1980 still? Next theyโll freak out when they discover that thereโs a thing called โairportsโ. 
If you need to just move money around without getting hit with large costsโฆ I use Transferwise.
This also a topic for me. How do you guys deal with the โproof of addressโ fun times?
Also any updates to this, favorite brokers?
For non-US citizens, open a brokerage account with Firstrade or Charles Schwab and invest in global targets ETFs (like VT, SCHF) or US targets ETFs (like VTI, SCHB)
Hey! Iโm also a legal resident of Poland and have been looking into ETF solutions lately. Was wandering which fund did you go with in the end?
Personally only own some stocks in US company (bought it directly as it was my employer) and went with AirBnB setup in Krakow. But now looking into something else then property investment, as that tends to take up time even when outsourcing management to somebody else.
A little off topic, but thought Iโd mention a couple books that nomads interested in international investing might find interesting: Investment Biker and Adventure Capitalist by Jim Rogers.
Basically he rides a motorcycle around the world (then drives a car) and itโs a combination of travel and his investment analysis of the countries he travels through.
The books are very dated now, but the interesting part is the thought process anyway. He hasnโt been right about everything, but he retired from fund management at 39 as a billionaire, so he must have been doing something right.
Youโre already a nomad, why not consider making international investments?
Being from Poland, there are great real estate investment opportunities in your own country and if youโre open to traveling, countries like Cambodia and Colombia offer great property returns as well.
Even just opening a bank account in a country like Mongolia can give you 10% returns.
I use Interactive brokers, they are by far the cheapest and most flexible online solution. You also get patched into an incredible forex market and the fees are very low because their fees are mostly structured for huge fund houses but they donโt have separate tiers for small fry like me. Thus my fees per big trade end up being very less.
I also use Saxo Capital Markets from the UK just for not having all my money with one broker. Their fees are higher and the available number of symbols is smaller.
But with both you can trade on a wide array of markets (US, Amsterdam, London, Hong Kong, Singapore, etc.). And you can also convert currencies.
Account opening is pretty easy and can be done remotely.
I mostly own Vanguard ETFs in Europe (Amsterdam and London stock markets) through them. This is to avoid issues with the US Estate Tax in the future (investments above $60k) and trading through Vanguard Ireland gives me just 15% dividend withhold vs the 30% I would normally get. (The US IRS does this to everyone =/)
There is this http://www.etoro.com/ thing, which seem to allow making investments quite easily. But I not yet tested it on real money, so cannot say anything more precise yet.
Investing is still important. Low-cost ETFs in a jurisdiction without capital gains tax or withholding tax are the best starting point. Some geographic diversification and a small emergency fund in gold coins also helps.
Vanguard is usually the cheapest, but itโs not available everywhere.
Thank you @normaldude. Thatโs an excellent starting point for the information Iโve been looking for!
Here are some portals that list some offshore brokersโฆ
TD Direct Luxembourg might work for you, since itโs geared towards expats & cross-border investing.
Keep in mind that if youโre a non-US person (no US citizenship, no US permanent residency), then you should stay completely out of the US market (for reason stated below). Stick to non-US based accounts, and only invest in NON-US-domiciled funds (like the Vanguard index funds domiciled in Ireland) and NON-US-domiciled ETFs (like the ones listed in London, domiciled in Ireland).
If a non-US citizen / non-US person invests in US-domiciled funds & ETFs (like BND, VTI, VEU/VXUS), then if they die, the US government will impose a brutal estate tax of up to 40% on amounts over $60,000.
The more I think about it, the more I believe that my original question should have been โhow to transfer money around the world without paying ridiculous feesโ
[quote=โmateuszwieloch, post:4, topic:2772, full:trueโ]
The more I think about it, the more I believe that my original question should have been โhow to transfer money around the world without paying ridiculous feesโ[/quote]
Currency transfer companies may charge 0.50% - 1.00% premium over spot rate. Some of the bigger ones areโฆ
I would stay away from mutual funds unless you really do your research. Vanguard on the other hand has some incredible ETFs. VTI is great.
Why? Iโm curious to know your reasoning for this considering that most ETFs are very similar to MFs. For example, VTI and VTSMX. The most significant is that ETFs are traded like stocks which can either be an advantage or disadvantage depending on your investment style and needs.
I use Vanguard for most of my investments but Iโm a US citizen. You might do better to open with an EU brokerage company. Just watch out for trading fees.
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!
How do you guys deal with the dreaded โproof of addressโ for banking and investing and other random stuff?
I donโ have the option to have a family member do this for me, sadly (not wanting to use that country as residence for tax implications).
This has to be a pretty regular problem for most who arenโt doing the old timey โlive in one place and pay bills there foreverโ thing. Suggestions? Services? Hacks? Workarounds?
I know from experience that if you have residential status in countries where IG (a broker) serves, you can buy stocks and other assets through this broker. But I wonder what doors to the stock market, asset market or broker can be unlocked with e-residency? Some banks open a terminal for customers to buy assets overseas too, is one of the e-residency friendly bank offering a good portfolio of assets to invest in?
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. Thatโs 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
When you meet new people or reconnect with old friends, do you โoutโ yourself as a digital nomad? The simple question โwhere do you live?โ makes us uncertain now. We wonder if some places may be less welcoming to digital nomads, or if โdigital nomadโ 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 thisโฆ how to balance being authentic in relationships vs. withholding the context (and allowing people to assume youโre on vacation, for example).
Thanks!
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 itโs possible.
Iโm 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?
Hey guys, hereโs a question Iโve been asking nomads I meet everywhere, but still havenโt found good information. My startups mostly focus on american and european markets but I donโt 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 Iโm at). The thing isโฆ for low volume living expenses it seems fine, but as I scale the business, Iโm 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 donโt know if itโs the best way to optimize thisโฆ any ideas?
Also, could there be any problems in selling to these countries without a registered local company?
HI, Iโm 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?
Does anyone have recommendations to handle physical mail? In the USA, Iโve 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 PDFโs.
Has anyone used these types of services? Impressions?
Hereโs a sticky guide that Iโll 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
Hi, let me start by saying iโm an idiot when it comes to these things. I know all the infos are out there and Iโve 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! Iโm 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 ATMโs 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 didnโt make enough money.
So far Iโve come across these options:
Paypal
I already have a paypal account and It does some of what I want. Except Iโd 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? Iโm already confused with all the real currencyโs involved please donโt bring in digital onesโฆ
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 โbank accountsโ. But Iโve read really mixed reviews about it so I donโt 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
Iโve 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 canโt 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!!
Hi. Newbie here.
Wondering if anyone here has expertise in being an โinvestorโ nomad where you travel and live off investment income? Iโm contemplating fleeing the rat race and wanted to throw out a few thoughts and ideas.
Have a UK passport so donโt get taxed on worldwide income whilst non-resident.
Iโm thinking of residency in Malaysia (MM2H) or Philippines (Retirement visa).
In terms of generating tax efficient income:
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!
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 Iโm interested in maybe buying a property somewhere else in Europe. I donโt 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?
Hi everyone,
Starting in May 2016, Iโm taking a year and a half abroad to work and develop my online businesses. Iโm 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 - thatโs why Iโm always looking to launch new businesses.
We all know how the team is important in each profitable business. Thatโs why I would like to meet other nomads to launch online projects together.
Iโm 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 (Iโm French and I speak English and Spanish as well). We would change our location every 2/3 months to enjoy the nomadโs 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.
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.
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!
Iโd love to hear some advice on how to get customers and making everything work smoothly and remotely.
//Chris
Iโm thinking about living fulltime in an RV mostly in the US and North America. Is this still part of the digital nomad community? Is there anyone who has tried this? Pros? Cons? Thanks!
Hey everyone! Thereโs often loads of blogs and threads about nomads from Americans and Europeans but I havenโt come across any for nomads from Asia-Pacific.
I personally hold an Australian passport and Hong Kong PR and completely new to being a nomad. Any suggestions at all or resources that others may have come across on this particular topic?
Personally, Iโm looking at broad medical/health insurance, travel insurance and as a bonus, insurance which may also cover scuba diving
Can't login? See the FAQ
Nomads.com
By signing up, you agree to our terms of service and community guidelines.
One-time-payment: $39.98 $19.99 ๐ซ 0% off
Billed once. Then never again
Nomads.com members
work remotely at
Nomads.com
๐ Thanks for signing up! I hope you like my site. I put a lot of effort into making it.
๐ฌ First, please go to your email and click the confirm link first to verify your email address, check your spam folder if you can't find it
๐ After you confirm your email we'll send you an email with more info
๐ฉโ๐ป You can start using Nomads.com's member-only features now!
