We are in the middle of the Digital Revolution, a time when ones and zeros rule, and this has seen the emergence of the digital nomad, someone who works online and can, therefore, live anywhere, as long as they have a web connection. Australia is at the forefront of IT development, and thousands of Australians are enjoying the digital nomad lifestyle, which brings unprecedented freedom and independence.
Typical digital nomad professions
The list is long and includes the following:-
- Coders
- Front and backend developers
- Designers/architects
- Web development
- Cyber-security
- Traders (crypto, Forex, and gold)
- Lawyers
- Bookkeepers/accountants
- E-commerce
- Healthcare
- Management
- Writers/journalists
Some people visit their office once a week, which allows them to travel for a few days whenever they fancy. Some nomads spend all their time traveling; a typical pattern for 12 months would be spending Christmas and New Year in Australia, then heading to Southeast Asia, Thailand, Vietnam, Cambodia, and other nations, all popular digital nomad destinations. Of course, there will be times when you attend important business meetings, and the best tailor-made suits in Sydney are available from a leading Sydney tailor.
Cheap cost of living
The great thing about being able to live anywhere is the money you can save by flying to a third-world country and spending a few months living the millionaire lifestyle. You can realistically half your living costs if you relocate to a tropical paradise, which is a great way to live. Of course, you have the flight costs, but you are still ahead of the game even with those.
Digital entrepreneurs
Many digital nomads are self-employed or manage their businesses; some salaried digital nomads work remotely, but many own e-commerce sites and trade online. Setting up a small business has never been easier, especially here in Australia. With a good business concept and a workable business plan, nothing can stop you from joining an ever-growing group of people who travel and work remotely.
Online trading
One of the fastest growing sectors is digital trading; whether Forex, crypto, or precious metals, traders login to global markets and buy and sell commodities. All they need is their laptop and a stable Internet connection. They can access secure digital trading platforms; traders use state-of-the-art analytical software and a host of other digital resources. Some traders prefer to use shared workspaces to meet like-minded professionals, while others are happy to work in their pool villa!
Digital currency
If you are moving around the world every three months, you should avoid using traditional banking, as this will be expensive; set up a Bitcoin wallet and use that to link with bank accounts you set up in destination countries. You need to be smart when moving money around the world. With a little crypto knowledge, you can transfer funds for a small fee; it is important to create bank accounts and use online banking facilities, which saves money and makes transferring funds a simple process.
Taxation & accounting
Of course, you can’t escape taxes, and we recommend hiring an accountant with extensive experience with global commerce; with their advice, you can stay legal and manage your super. Let your accountant access your secure network; they can access the data they need without meeting you face-to-face.
Visas
Every country has its immigration laws, and we recommend using local visa agents to ensure compliance. You might only be allowed to stay for three months but can leave and return at any time; many countries do offer long-term visas, as they wish to encourage foreigners to invest in their economy. Some nations will give you a visa-on-arrival; Google their embassy and find out about entry requirements; you might need to show onward travel documents in some Asian countries.
