Deciding to become a digital nomad comes with a myriad of questions, accompanied by nuanced answers that can save you money.
October 12, 2022
By: Bobby Casey, Managing Director GWP
All pretty routine stuff for me, but it can be incredibly confusing if you’re not elbow-deep in it like I am every day.
The Top 10 Questions Digital Nomads Ask
Just to give you an idea, here are 10 of the most common questions I’ve been receiving lately:
- Where should I register my company?
- How can I open a bank account in the US without a personal visit?
- Where should I have my residency to minimize taxes?
- Is Estonian e-residency and an Estonian company a good solution?
- What is the difference between tax residency and physical residency?
- If I leave my home country and don’t have residency somewhere else, where do I pay taxes?
- Can I just not be a resident anywhere?
- How do I pay myself from my company if I am not a tax resident anywhere?
- How can I get loans for real estate if I am not a tax resident somewhere?
- If I don’t live in my home country, do I still file and pay taxes there?
Providing Answers to Your Questions
“Okay, Bobby, so you get a lot of questions digital nomads ask… but can you provide the answers?”
Well, yes, I can.
Although I limit my specific individual advice to my GWP Insiders who get unlimited 1-hour phone consultations with me.
That said, I’m in a good mood, so let me answer the last question above:
10. If I Don’t Live in My Home Country, Do I Still File and Pay Taxes There?
The answer to this question is complex. For most nationalities, the answer is no. You do not have to file in your home country if you no longer live there.
But for some countries, there are specific things you must do first to properly exit the country.
And for Americans, you must still file with the United States, but there are tons of loopholes you can take advantage of to reduce or eliminate your taxes entirely.
The Complexity of Tax Obligations
As you can see, the answer to just this one question naturally leads to others…
- Which countries require certain steps to be completed before exiting?
- Which loopholes will save you the most when filing with the U.S.?
This is just the nature of the beast. The digital nomad lifestyle is awesome, but it also requires a high degree of knowledge and expertise to navigate all the rules and regulations properly.
Get Expert Guidance with GWP Insiders
That, of course, is where I come in.
By becoming a GWP Insider, you’ll get unlimited 1-hour consultations with me, as needed.
Benefits of Membership
Plus, you’ll get all the content inside the membership area, which includes a variety of internationalization strategies:
- Offshore companies
- Trust planning
- Tax planning
- Real estate
- Second passports
- Discounts on offshore structures
- And much more
If you’re thinking of becoming a digital nomad entrepreneur or freelancer, then GWP Insiders will pay you back many times over.
In fact, most of my clients in this category save on average 50-100% on their income taxes after working with me. So the cost of GWP Insiders is just a small piece of their annual tax savings.
How to Join
Joining GWP Insiders and scheduling your first call with me is easy. Just go to this special page and sign up now.
To live freely is divine,
Bobby Casey
Location Independent Entrepreneur
P.S. Bring me your toughest questions about setting up and internationalizing your business. I bet I can answer all of them during our first call. Massive ROI for the right person.
