If you are still working the 9-5 grind, dealing with the rush hour traffic and all the hassles that go with working in an office, this article could change your life. The business world is morphing and there’s never been a better time to set up a small digital business that puts you in the realm of the free and independent. Whether you sell sports gear online or run a real estate brokerage, you can manage your business from any location.
Southeast Asia
This is currently the haven for the digital entrepreneur; top locations include;
- Thailand
- Cambodia
- Vietnam
- Indonesia
- Malaysia
Setting up a business as a foreigner brings many attractive benefits, and yes, there are affordable accounting services in Cambodia; talk to a local law firm with English-speaking lawyers and they can handle everything on your behalf.
Long Stay Visas
This is probably the most challenging aspect of living and working in a foreign country; some nations are not so forthcoming with long-stay visitors and registering your business is the key to a smooth stay, as you are now contributing to the local economy, which opens many doors.
Third-world countries like Cambodia are very happy when foreigners wish to do business in their country and very low taxation is pretty much assured.
Internet Connectivity
This is the only restriction for a digital nomad, they must have a stable, hi-speed Internet connection and the current level of digital tech allows you to live in South East Asia and have a Broadband connection.
Five years ago, some Asian nations did not offer this, yet the telecom corporations are already there, which is great news for the digital nomad. Fast Internet is not expensive, which is another plus to add to the many reasons to relocate your business and enjoy life in a tropical paradise. On the topic of Internet connectivity, check out this blog about online whiteboards.
Sell the House and Change your Life
You could rent the property while enjoying the high life, as this will generate a healthy income, or you could sell up and buy a beachfront villa in the sun! Some might find it hard to cut ties with the homeland, but actually, you are not.
You can fly home for your summer, see the family, and touch bases with good friends; if you have no real ties, leaving is an attractive proposition; being an expat frees you from the noose of taxation, at least it should. Seek advice from your accountant re taxation, but there are always ways to remove yourself from the tax registers.
Low Cost of Living
Have you seen the prices in Cambodia? Seriously, this shows how much over the top we pay in the West and you can enjoy a great life for $1000 a month. What’s not to like about enjoying restaurants, playing golf in the sun, and managing your business at the same time? More and more entrepreneurs are relocating to South East Asia and there are plenty of reasons why.