Please teach me how to become a digital nomad from the beginning?

[clemens]

I’ve read countless articles about being a digital nomad and living as one, but in all the thousands of articles written about this lifestyle, I haven’t seen a single explanation of HOW TO BECOME A DIGITAL NOMAD.

What I’m really missing is a simple step-by-step guide that tells me where to start and what to be aware of if I decide to become a digital nomad tomorrow.

Does anyone actually know how to make it happen, or are all the ones out there just thrill seekers living in an unconventional reality, bending the rules to fit the situation of the day, without worrying about what tomorrow brings?

 

[daniels27]

I think most people start small. Maybe just more and more travelling at first while officially living at their parents.

They then cancel all rented apartments and changed their address at the banks to the one of their friends. You still need to be able to receive your debit cards.

Later on, they deregister with the government. You then are either not tax resident anywhere or you choose a favourable jurisdiction. This would be one with minimal reporting requirements, i.e. no wealth and ideally also no income earned abroad. Ideally also with no tax on interest nor dividends.

Ideally you have a good network of business partners and friends that let you use their addresses for banks and online orders. If possible you can also store some personal things of sentimental value like postcards or gifts from others.

My step by step guide

• Decide for a jurisdiction to get a tax residency if needed. You can do it without and trade with a US LLC or a Singapore company. In this case, I would recommend getting a tax id in a place where you can get it without visa such as Australia in order to be able to tell banks and governments something.
• Check with friends, family and business partners who can handle you mail. It is a matter of taste but I would not settle for less than like 5 countries. It gives you flexibility if you have 50 bank accounts across 5 continents.
• Decide where you can store personal things. I would spread then out a bit, so that you have all in reach.
• Go travelling, keep track of any SIM cards and bank accounts, so that they do not expire. I recommend using a calendar with reminders. Some SIM cards need to be reloaded, others need to send messages etc. Some banks need a login while others need a transaction.
• Keep sending postcards to your friends, they will be very happy to host for for a week or two!
• Keep me posted where you are, I will eat some tapas with you!

 

[YoungLansk]

I will give you a pro Tip
When you land in a place find a decent Taxi Driver ( they all will try to get some extra $$ be generous) and they have a solution to all your problems , questions and needs.

 

[Mercury]

It gives you flexibility if you have 50 bank accounts across 5 continents.

... and a lot of headaches to admin it.

To me, nomadism rhymes with freedom, minimalism and above all the least possible bureaucracy.

 

[JackAlabama]

I’ve read countless articles about being a digital nomad and living as one, but in all the thousands of articles written about this lifestyle, I haven’t seen a single explanation of HOW TO BECOME A DIGITAL NOMAD.

What I’m really missing is a simple step-by-step guide that tells me where to start and what to be aware of if I decide to become a digital nomad tomorrow.

Does anyone actually know how to make it happen, or are all the ones out there just thrill seekers living in an unconventional reality, bending the rules to fit the situation of the day, without worrying about what tomorrow brings?

well looking back.
The one and formost important issue to start is the money flow.
You either have one or a mix of:

a) enough capital and/or interest income
b) passive income streams (non capital sourced)
c) active working income from wherever (job or business) which does not require physical presence.

The rest (and its headache) will follow.

 

[clemens]

When you land in a place find a decent Taxi Driver ( they all will try to get some extra $$ be generous) and they have a solution to all your problems , questions and needs.

You think that works? he will help me with authority stuff and all this? If he can, he should make this as a second job.

To me, nomadism rhymes with freedom, minimalism and above all the least possible bureaucracy.

exactly what I think. Can't see why I need more than one bank account or two with crypto etc.

a) enough capital and/or interest income

I have roughly 800K euro on the bank and in crypto. I'm on a digital job already only doing money online.

The rest (and its headache) will follow.

yeah I'm afraid of it.

 

[JackAlabama]

You think that works? he will help me with authority stuff and all this? If he can, he should make this as a second job.


exactly what I think. Can't see why I need more than one bank account or two with crypto etc.

Its enough. Just look for a local card when take longer than 90 days vacation at times. (When I started out at first, I did like 3 months away 3months at home).

I have roughly 800K euro on the bank and in crypto. I'm on a digital job already only doing money online.

thats a great way to start. I had much much less than that when i started (as a young and dumb lad, now Im just not young any more .

yeah I'm afraid of it.

start small by taking longer vacations.