The Best Way to Start Location Independent Business (Digital Nomad Lifestyle)

No video

The Best Way to Start Location Independent Business (Digital Nomad Lifestyle)

Рет қаралды 6,583

Күн бұрын

Get personalized advice about tax, asset protection, offshore banking, residency, and citizenships: calendly.com/m...
You can visit our websites for more information about us: offshorecitize... & www.offshoreca...
You'd like to start a location-independent business and live as a digital nomad? Lots of our subscribers already have this lifestyle. But if you're a newbie you're probably wondering what are the best ways to start this? Which type of business should you start so you can become location independent and earn enough money to travel the world?
This is what we're covering today.
Lots of people who are considering taking this path are thinking about starting a dropshipping business, opening an Amazon store, or doing affiliate marketing. These are all good business opportunities that offer location independence.
The important thing to remember is that the beginning is always hard, and it can take you quite a while before you start making substantial money. This is why I recommend keeping the existing source of income until your business takes off, so you can live off it.
Another great option is selling services. This is also possible to do even if you don't have any income to back you up. This way you will earn income while learning and building your expertise and reputation. Service-based businesses are easier to start and certainly have less risk. If you're just starting, I'd recommend considering this route first.
Once things get going you will be able to move abroad and make enough money to cover your travels around the globe.
Who are we and what do we do?
We are Offshore Citizen team. We help people become global: get a second passport, set up a second residency, pay less taxes, do banking abroad, etc.
We have lots of interesting articles on different topics, we have relevant information up to date.
Author: Michael Rosmer
Feel free to join our community!
Don’t forget to subscribe to our channel
/ @offshorecitizen

Пікірлер: 61

@filipgs 3 жыл бұрын

Awesome video and very helpful to me personally, thanks Michael!

@OffshoreCitizen 3 жыл бұрын

Happy to hear that! Have you already started your digital nomad journey?😁

@tinglestingles 3 жыл бұрын

From an economic perspective, what would be the best low-cost base for the next 15 years? Mexico/Latin America or South East Asia? Or somewhere else?

@pedrop2382 3 жыл бұрын

Mexico (merida, oaxaca, Ajijic) and Colombia (medellin, Santa Marta, San Gil) in Latin america will be the cheaper options, then Peru and Ecuador (Cuenca, Manta) you also need to apply for a visa to be able to stay longer period of time, Maleysia has the MM2H that its suspendend, Thailand elite visa, and i think in both Indonesia and Philipines you can extend your turist visa when you are in the country, Maybe Georgia in that mix Europe and Asia, it depents how close you want to be from home or family, wheather, visas or residence permit latin america is usually preaty easy, language in the Philipnes easy to conect witl locals beacuse they all speak English

@MichaelRosmer 3 жыл бұрын

Difficult to predict prices 15 years out but and it depends what you're wanting to buy and how much you account for limitations in infrastructure and services. At the moment I'd say generally eastern Europe like Bulgaria or South East Asia like Malaysia

@tinglestingles 3 жыл бұрын

@@pedrop2382 Hi, we really enjoyed Mexico - up in the hills! Hopefully, Malaysia will be opening soon! It looks like we may set up three homebases - Mexico, Europe & Malaysia.

@tinglestingles 3 жыл бұрын

@@MichaelRosmer We wanted somewhere which would survive and thrive in the coming years. We both feel the UK will suffer greatly post-COVID and we both do not want to live through the 1970s yet again! So, living in a thriving economy, although the possibility of inflation might add to extra costs it will give the added benefit of lower crime, better health services and general infrastructure. The National Health Service in the UK is never in a good shape in the best of times, let alone in the coming storm.

@tinglestingles 3 жыл бұрын

In my experience starting a business - always takes longer than expected, has higher costs than budgeted, and has lower sales than predicted - at least in the beginning! ALWAYS have an extra 25% contingency in time and money. Going offshore certainly would offset some of your expenses that's for sure.

@OffshoreCitizen 3 жыл бұрын

That's a great advice! Have you ever gone offshore?

@tinglestingles 3 жыл бұрын

@@OffshoreCitizen UK based but all resources offshore - Chile, Serbia, Ukraine, Tunisia & Uruguary - I have travelled and worked remotely for short spaces of time plus for training resources - Serbia, Poland, Portugal, Ukraine etc. I'm fascinated by the concept of the soverign individual and not being 'tied' to any one state.

@Yasin_Affandi 3 жыл бұрын

Thanks for this wonderful video n d info on digital nomad lifestyle.

@OffshoreCitizen 3 жыл бұрын

You're welcome! ☺

@Yasin_Affandi 3 жыл бұрын

@@OffshoreCitizen 😀

@villageintheshire Жыл бұрын

Clear, logical and dispassionate. Very good.

@OffshoreCitizen Жыл бұрын

Thanks!

@Bri-wi8kq 3 жыл бұрын

Wise advice Michael, thank you. If only we could follow these sensible plans...

@OffshoreCitizen 3 жыл бұрын

You're welcome, always a pleasure! What's holding you back from following them?🤔

@Bri-wi8kq 3 жыл бұрын

@@OffshoreCitizen Holding me back?.... a really nasty divorce Michael. With luck I hope to freed up at the end of year.

@OffshoreCitizen 3 жыл бұрын

Sorry to hear that. It will all work out💪

@Bri-wi8kq 3 жыл бұрын

@@OffshoreCitizen Thank you, hope so.

@edwest2263 3 жыл бұрын

Start a YT channel. Sell courses through Udemy. Offer 1:1 consulting. Take contract jobs on Upwork. If technically inclined, try building a SAS. If technically and mathematically inclined, try your hand at algotrading.

@ByronWatts Жыл бұрын

Location independent since 2013 Offshore since 2018 Working on time freedom .... still

@OffshoreCitizen Жыл бұрын

What things are you doing to work on time freedom?

@Gome.o 3 жыл бұрын

Eh, not really what I was expecting. Was hoping you were going to give pragamatic examples of how to start a business that’s location independent, the title of the video doesn’t really seem to marry up with the content.

@MichaelRosmer 3 жыл бұрын

Good feedback thanks

@ronaldm8148 3 жыл бұрын

@@MichaelRosmer Is it? I've been location independent for a few years now. This video is probably the best advice that you will get starting out wanting to become a "digital nomad" You can't sit here and list the hundreds of different ways to make money online and how to do every single one of them. The advice on the video is def spot on what I would tell my friends who want to be more location free and move around. Please make more videos related to digital nomad and/or "poorer" off shore citizens (50-100K/year range).

@billhennessey6374 2 жыл бұрын

Great video as always, Michael!

@OffshoreCitizen 2 жыл бұрын

Thank you, Bill! Are you a digital nomad?

@billhennessey6374 2 жыл бұрын

@@OffshoreCitizen , getting there, Michael. I recently got permanent residency in Panama and I would like you to help me get my temporary residency in Montenegro fairly soon. I would be interested in a third residency as well but I am still researching. I will be in touch with you on Montenegro!

@Misanti888 3 жыл бұрын

Thank you for adding validation to my mindset. Much appreciated. Have you made a video on the best international payment processing portals for online businesses? Am looking for something that has a decent max on amount or volume of payments one can receive from int'l customers with the least minimal risk and paymt processing/transfer/conversion fees. Am avoiding direct bank transfers due to prohibitive fees even for very small amounts but high frequency. You've done a couple of these vids but nothing on the detailed comparison side, i think. Paypal is popular but have heard many not so pleasant practices n policies nowadays.

@OffshoreCitizen 3 жыл бұрын

You're welcome, Michael! Always a pleasure ☺ No comparison videos yet, but good idea. Thank you! In the meantime, you may find this playlist helpful kzfaq.info/sun/PLHr_p-nyoKCOgbuuGRVkKKJy7yQdIFdWe

@Cavalher 3 жыл бұрын

Hey Michael! Do you have any videos on opening a zero-tax company in the UK for people who don't want to be nor domiciled nor resident there, please? Thank you for the awesome content you release in your channel. It's very comprehensible, therefore feels safe.

@jBuck8888 3 жыл бұрын

Great advice! Thank you

@OffshoreCitizen 3 жыл бұрын

You're welcome, Jacob! Anything you'd like to see next?

@Grandpa_RLP Жыл бұрын

What would some service ideas?

@natesyoutube5062 2 ай бұрын

note for me later when i rewatch… skip to 3:04

@peteredwards49 2 жыл бұрын

I agree, then sub contract those services to people in a low wage English speaking asian country, ie Philippines to scale, and free up some of your time, as you will still have to remotely supervise.

@TJ-cg8mq 3 жыл бұрын

..are you saying it's better to sell services than digital products ?? I personally prefer not to carry inventory..!!

@alefermin 3 жыл бұрын

I think he meant physical products. Like dropshipping & amazon

@MichaelRosmer 3 жыл бұрын

I'm saying when you're getting started it's easier to make enough money to cover your costs plus some profit selling services than digital products. Digital products are great but often harder to sell and the ticket size is lower, which means you need more customers, which is harder when you're getting started.

@robster7012 3 жыл бұрын

Thanks Michael, in your opinion do you think that affiliate marketing is 'easier' to make money or selling your own products? I have many affiliate links but don't get the traffic, so am considering using Etsy to sell products.

@MichaelRosmer 3 жыл бұрын

I wouldn't say "easier" is the right term. What I'd say is all businesses need to market but they actually don't need to do anything else. In other words the process of making money involves selling. If your business is selling then the fulfillment of what you sell is simply selling, which means it's much less complex than if you have to market and sell a product or service then fulfill on it. In theory creating your own product, producing it, marketing and selling it gives you the most number of levers to succeed but it also means you've got more variables to worry about it and complexity offers opportunities but also challenges.

@robster7012 3 жыл бұрын

@@MichaelRosmer much appreciated

@alefermin 3 жыл бұрын

When you say you recommend starting with services, would you say technology/software services would be ideal? Obviously depends on the individual, but I mean generally

@OffshoreCitizen 3 жыл бұрын

Generally, yes. But it doesn't have to be the case. What is your field?

@alefermin 3 жыл бұрын

@@OffshoreCitizen business intelligence/data science

@michaelking4578 Жыл бұрын

@@alefermin Same here.

@borisnegrarosa9113 3 жыл бұрын

I want to start a business in Latvia. How do I find investors? Any advice?

@MichaelRosmer 3 жыл бұрын

Haha I was thinking to create a video recently about how Latvia is one place I'd never start a business. This being said finding investors is largely a function of your skill, reputation, social skills, quality of the idea, team, field, and who the investors are. I think people often reverse the chain on raising funds. If you've got an amazing project it's not so hard to raise money, if you've got a poor project or don't know how to communicate it you'll have issues. So you should focus on the root.

@borisnegrarosa9113 3 жыл бұрын

@@MichaelRosmer Thanks for the reply. Could you specify more what's wrong with Latvia? Is it corruption, bad business environment, lack of English skills ...?

@healthman1205 3 жыл бұрын

gonna havta take da GGeNNoCCiDDe JJaBB 2 go 2 any country

@borisnegrarosa9113 3 жыл бұрын

Why is my comment being shadow-banned? Outright ridiculous.

@OffshoreCitizen 3 жыл бұрын

It is not shadow banned. We have problems with large amounts of spam/bot comments and because of that every comment needs to be approved manually by our moderators.

@borisnegrarosa9113 3 жыл бұрын

@@OffshoreCitizen Ok, got it. I didn't see my comment when i signed out of YT, why I reacted. My apologies.

@AlpineDividends 3 жыл бұрын

I can see your comment