We live in a digital world and this set the scene for a new breed of entrepreneur, namely the digital nomad, a person who makes their living on the World Wide Web. The online entrepreneur might live anywhere in the world; Thailand, Bali, Vietnam; most Southeast Asian nations are popular with digital nomads, where the cost of living is low and the climate attractive.
Typical professions
There are many career paths that can be delivered online, such as:
- Front and back-end software developers
- Coders
- Designers
- Engineers
- Brokers
- Investors
- Online business owners (e-commerce)
All a digital nomad needs to be productive is a laptop, a stable Internet connection and they are good to go. Of course, there are times when they attend meetings and seminars so they do have bespoke business suits in the wardrobe. At other times, a digital entrepreneur might work from a tropical beach or a retreat in the mountains.
Tax Benefits
In most developed countries, if you spend more than 180 days abroad, you would pay less tax. Talk to a top Sydney business lawyer to discover the many advantages of living and working in a foreign country and you might be surprised. Some digital nomads register a business in a foreign country, which allows them to obtain long time visas.
Moving Money Around the World
There are quite a few ways that you can move money around the world; Bitcoin, for example, is a completely anonymous way to transfer money and it is cheaper than most other avenues. All you do is download the free Bitcoin wallet software and connect the account with a valid bank account or PayPal. Wise (formerly TransferWise) offers a super-fast and reliable platform to sending money to almost every nation in the world. This is one aspect of living the digital nomad lifestyle that has improved dramatically in the past few years, with many digital payment gateways that enable fast transfers without having to involve a bank.
Working from Home
The pandemic brought working from home into the forefront and after a few months of this, employers suddenly realised they were slashing their running costs; so much so that many encouraged their employees to stay with remote working. The number of Australians who work remotely is on the rise; you probably know a few people who work remotely, especially entrepreneurs. Click here for wellness tips.
Spend the Summers at Home
This is the preferred MO for most digital nomads here in Australia; arrive home about September or October, ready for a great Xmas and New Year. Having these traditional festivals in the summer is not something most countries can do. Bali is probably the most popular digital nomad, while Thailand and Vietnam are also top of the list, mainly due to the low cost of living.
Working remotely is becoming more popular and once you have tasted the freedom and independence, you won’t wish to return to normal office employment.
