SEO updates for Nomad FI
Although it’s not mandatory, I’ve decided to update the SEO for all of our Blog posts. I’ve created this website mainly for myself and for my family to discuss our financials and investments. However, as I’m also part of the FI Community, this website is also available to the public. My family is Nomad FI. It doesn’t exist, but the closest one is digital nomads, which we are not. We work at the location we are living in and we focus our investments on Dividend and Income ETFs in US and AU. We are dual US and AU Citizens. Our goal is to live off from our dividends through geo arbitrage once our kid enters College.
Although there isn’t Nomad FI or Geo FI, however, I’ve met many US Expats choosing to become nomads themselves, so I’m sure it’s a matter of time this becomes a trend in the FI Community.
Imagine you’re currently a US Citizen (or any citizen of another country), but would like to relocate and to live/work in another country. This could be one of the countries you’ve visited during your vacation and had a great experience there. You get a 2-year/4-year working visa. You enjoy living there for several reasons: the people, traveling within the country, weather, their lifestyle. You just realized your visa will be up in about half a year. What do you do? If you’re lucky, your employer extends your visa or sponsors you for PR (Permanent Residency). If you’re not, either you find your own pathway for permanent residency or return to your home country. Some don’t have a choice. I’ve met a few Singaporeans/Malaysians, and Singapore doesn’t allow for dual citizenship. They can become PR, but they can’t become citizens. That means they would need to keep renewing their visas.
We’re considering to retire in Thailand through the Retirement Visa. We will be utilizing geo arbitrage and living off from our investments and dividends as they have a much higher purchasing power and lower cost of living.
However, not many FI enthusiasts out there discuss the tax implications regarding the tax residency as each country has their own tax obligations, so it’s best that you perform your own due diligence prior to your relocation.
