The freedom to work from anywhere as a remote worker is a flex that we don’t talk about enough. Unless you're retiring at 40 with investments to last for a lifetime, remote work is the closest thing to freedom and a premium work-life balance. But as you move around, failing to plan can be a plan to fail.
In this article, we look at the essentials of relocating and the steps you must take before you move. See this as your travel checklist as you pack your bags.
Moving to a new country to work isn’t always straightforward, and it often requires some paperwork. While many countries don’t expressly permit working remotely on a tourist visa, they don’t enforce compliance. Visa options like digital nomad visas, long-stay visas, and residency permits are often better for remote work. You should understand your visa duration, the rules for visa extensions, work permits, and other local regulations that apply in your destination.
Also read: Visa types every remote worker should know
Often, moving to a different country doesn’t immediately affect your tax obligations. But working abroad can complicate your tax situation over time. You may be required to pay taxes in your home country, your host country, or both, depending on your residency status, the local tax regulations, and how long you stay. Some countries consider you a tax resident after a certain number of days. Planning ahead helps you avoid double taxation, penalties, or running around at the last-minute to remain compliant. You can consult a tax professional if you are still unclear.
Relocating can be very expensive, and you don't want to be shocked by the living costs. Research the average living costs, including rent, food, transportation, groceries, utilities, and fun activities. Check flight prices and book in advance to save money. You can use a spreadsheet for your monthly budget based on your income, and don’t forget to save for rainy days.
Also read: A complete guide to budgeting as a remote worker
Don’t choose a destination just based on aesthetics or the abundance of leisure activities. While you should strive for a good off-work lifestyle, you must prioritise a reliable internet and power supply. Check average internet speeds, mobile data options, and power reliability. Identify coworking spaces or cafés as backups in case your home connection fails.
Relocating may significantly change your working hours. Decide whether you will adapt to your clients’ time zones or adjust your workload. Communicate this change clearly to your clients or employers so they can adjust their expectations accordingly. Clear communication expectations with employers or clients help avoid friction and burnout.
While no one wishes for it, medical emergencies in an unfamiliar country can be frustrating. It is even worse if you have to pay out of your pocket. Getting travel health insurance before you move might be a smart, protective step to avoid paying too much for health care.
Also read: Getting health insurance and saving in foreign currencies
Managing your international payments when you move to another country can be a struggle. It might take some time to open a local bank account, and your old payment system might not be very helpful in your new location. To avoid high transaction fees, exchange rate markups, and delayed payments that can eat into your earnings or affect your cash flow, it is best to plan ahead. Your best bet is to use a digital payment solution that offers multi-currency accounts and supports local withdrawals at the market exchange rate. This ensures you can move around the world, receive your payments, and withdraw locally with ease.
LDMAG1
Relocating as a remote worker is more than a change of address. It is a shift in how you manage work, your health, and finances. While the prospects can be exciting, it is imperative that you look before you leap. Grey ensures you have a dependable travel partner to help manage your finances anywhere you find yourself. With multi-currency accounts supporting USD, EUR, and GBP, you can easily receive payments from your international clients and withdraw to local accounts at competitive rates. Grey over a transparent fee structure with low charges to ensure you don’t lose a chunk of your money. Grey’s virtual USD debit card lets you make international transactions, giving you more financial freedom.
Get started on Grey’s website or download the mobile app today to manage your finances on the move.
.svg)
Back to top
