For most people, the dream of working in a location-independent job is only a dream. They remain tied to their 9-5 jobs and cannot even get time to go on a vacation. However, there are ways for anyone to benefit from the rise of technology to make the dream a reality.
It is possible to move to a new country and live there and work while still maintaining your U.S. citizenship status. Fortunately, the U.S. citizens living in many places around the world have various privileges to enjoy. The biggest one is the fact that being paid in dollars while spending it in local currency can make you feel wealthy.
Start Organizing Your Salary Sources
The first thing you need before going to live abroad and getting work will be a reorganization of your salaries. If you have a fixed job in the U.S., then you may need to seek a transfer or move to work with a multinational organization that sends its staff abroad. Otherwise, you can begin businesses that will run with a manager and other staff, allowing you to do minimal work so that you can travel outside the U.S. for an extended period.
Find Countries Readily Accepting U.S. Citizens
You need to do a brief search on the countries that afford you a decent living on a dollar salary. You are probably going to choose eastern Europe, Asia, and South America for their attractive lifestyles and living conditions. You need to make broad considerations including the life of your family members and not only yourself.
What if You are Already Location Independent?
For people who are already outside the country and have spent considerable time doing their thing outside, there are additional benefits you should be enjoying. One of them is the reduced tax burden because part of your income is external and your expenses are also in a foreign country. You can find more info on the Locus Tax website. Furthermore, you need to evaluate your status for eligibility status for you to make any refund or waiver claims.
Travel to the Country at Least Once Before Moving
You need to acclimatize yourself with the host country culture. If your company is sending you abroad, make sure you ask for a trip to the country to know how it looks and to put some of its realities into perspective. You might read that it gets hot in summer, but you need to visit the place to confirm whether the hot talked about in books is the same one you imagine you can tolerate. Remember that you are seeking pleasure rather than pain. Therefore, finding something that you can work with without any problems is essential.
Prepare Your Family
Make sure your dependants and your friends and family are ready in the same way that you will prepare your legal pages and your tax records, and your travel documents. They need to know you are essentially about to relocate and that it will be a while before you get back.
You can choose to withhold the reasons for transferring. Just inform them that you already confirmed your residence options in the new locations then you can work everything else from that point forward.