So, what is the goal of a 'Global Nomad'?
To control your destiny and finances so you can use your own resources for your benefit and those you love.
To not be reliant on any government or country to provide for you and decide your fate.
To base yourself where you choose but be able to travel freely to see family and spend significant time where you want without paying tax in many countries.
To lead a life with less stress and be able to improve your health as a result by having a life more in tune with your needs.
WHY, should you be a Global Nomad?
1. Covid 19 is accelerating the breakdown of western democracies leading to a more polarized society causing stress and anxiety.
2. The ‘Global Financial Crisis’ nearly bankrupted the global economy and before the system has recovered Covid 19 has thrown everything into chaos.
3. Governments are not qualified and unable to cope, there is a lack of leadership, passion and vision to solve unprecedented problems.
4. Countries are facing growing and unsustainable debt which will result in financial distress for many, increased poverty, violence and protests.
5. Fundamental recent changes in certain countries has reversed decades of a more open world. Covid and various other political events are creating a more polarised world creating greater stress and a deteriorating quality of life for the majority.
And what are your choices?
Technology and the world becoming more of a global village gives us all greater choice as to where we want to live and work.
Reasons people move are due to work, relationships, weather, experience new cultures and sometimes just a need to change and find a life more suited to each of us as individuals.
Many countries over the last decade have for financial reasons welcomed people of different nationalities and allowed them to make a new home. Examples of this in Europe are Spain, Portugal, Malta plus various others.
In Asia countries like Malaysia, Singapore, Hong Kong and Thailand have been encouraging other nationalities to set up home in their country for decades. Recent additions to follow this trend which are cheaper include places like the Philippines and Vietnam.
Various countries in the Caribbean not only encourage other nationalities but can offer a passport at a price.
What does being a ‘Global Nomad’ look like:
In Europe many people have taken advantage of the various schemes launched by countries like Spain and Portugal to build a new life in the sun. These schemes enable you to relocate and live in countries with a great climate and make a new life with the security of getting a visa and ultimately a passport.
The disadvantages of these countries in Europe is they now tax you on your worldwide wealth and income but there are no travel restrictions for pleasure or work travel.
Other countries in Asia and the Caribbean are more suited to the ‘global nomad’ who just wants a tax base which is either tax free or far less than where they currently live.
Many countries around the world now offer a ‘retirement visa’ to attract people to invest in their country and allow them to buy property and become involved in business.
Some of the most successful and contented global nomads will have a base in a tax free country where they have a property plus family and friends. They may run a business from this base which allows them to travel extensively and freely without paying tax in other countries provided they don’t overstay certain time frames in various countries.
For many of us the idea of being a global nomad is a dream which we feel is out of our reach. The reality is that this is far from the truth and many global nomads move because the quality of life they get from being a global nomad is far better than they will get from their current base and far cheaper.
Opinion can also deter people from becoming global nomads as it is viewed as some kind of ‘tax dodge’. This is a misconception as provided you have done your homework and comply with the rules of your ‘new home base’ you will not be breaking any rules.
A reason many global nomads also move is they are dissatisfied with where they have lived and the mismanagement of the economy, corruption and how their taxes are spent. By moving many global nomads embrace their new surroundings and invest their money to directly improve the lives of people around them.
Technology, cheap travel, countries competing with each other to encourage people to relocate has all made becoming a ‘global nomad’ easier and less expensive to achieve.
Internations survey thousands of those who move abroad and rate locations according to different criteria; quality of life, leisure options, personal happiness, travel and transportation, health and wellbeing, safety and security and lastly digital life.
Not surprisingly different countries feature on each of these lists and when considering becoming a ‘global nomad’ this information can help you to decide which country maybe best suited to you.
For those of you who dream of building a new life and becoming a global nomad the reality is that for many of us this is now achievable with careful thought and planning. Many have successfully made this choice for lots of different reasons and found happiness and a better quality of life.
If you are thinking of becoming a global nomad and need the inside track from someone who has lived this life for nearly 40 years; I run ‘one to one’ coaching sessions to help you achieve your dream and find happiness and fulfilment.