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by offtop5 1855 days ago
What if I pick a fast internet county like South Korea ?

I'd also know what's the best thing to do tax wise, I'm working on getting a nomad visa, does Corp to Corp work , should I create an LLC ?

1 comments

There are many countries in Asia that fit the "decent internet" requirement if you are able to put up with the timezone difference: SKorea, Japan, Taiwan, Thailand, Malaysia (and I'm sure many more). Quite a few of them are also pretty cheap (SKorea would be on the expensive end of the spectrum)

I've been living in Taiwan for ~5 years now and have 1GB/down 40MB/up internet to my apartment that costs around $40USD/month. Total living expenses for a family of 3 are around $2kUSD a month.

Great, how do you file taxes though . That's my main concern, I assume most American employers will be weirded out if you put down a foreign address.

Do you contract Corp To Corp ?

The absolute dream would be to live off 2 or 3k a month , but still pull down 10k or so from a remote job. I want to retire early.

>The absolute dream would be to live off 2 or 3k a month , but still pull down 10k or so from a remote job. I want to retire early.

I've done that for a few years with an even bigger difference between income and expenses :) I'm set to quit working for money this year (see post history for more on that).

>Do you contract Corp To Corp?

I have a foreign corporation and invoice my US clients through that.

It sounds like you're a US citizen so a foreign corporation might not make sense in your case. The IRS is after your worldwide income and a foreign corporation isn't necessarily going to help avoid US taxation given that you'll have to disclose the ultimate beneficiary (you) to your US clients with the W8-BEN-E form.

A US LLC might be a better fit for you. Also look into the Foreign Earned Income Exclusion[0], which allows you to earn ~$100k free from US federal taxes if you spend the majority of the year outside of the US. You'll of course have to pay taxes wherever you reside as well, but it's a bit of a grey area if you don't spend >= 6mo anywhere. In that case, you could likely get away with only paying US federal taxes on the amount above the FEIE limit and pocketing the rest. But do consult professionals, don't trust me!

Good luck!

[0]: https://www.irs.gov/individuals/international-taxpayers/fore...

I'm in the process of establishing a US based LLC.

I figure clients would pay the LLC and then the LLC pays me.

> I've done that for a few years with an even bigger difference between income and expenses :) I'm set to quit working for money this year (see post history for more on that).

Awesome ! I don't have to really work for the rest of the year , but I want to save as much as I can so I can take a good long vacation. If working from overseas doesn't work out I could still live without work for a solid year or so.

Any other tips to share ?

>Any other tips to share ?

The book Vagabonding[0] by Rolf Potts is an excellent read for this sort of thing. Happy travels!

[0]: https://vagabonding.net

Thanks ! Just brought the book .