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I am a former lawyer turned traveler. I help Digital Nomads with their international tax issues, international corporate structure, offshore bank accounts and all things legal around their business. My professional account @wanderers.wealth focuses on sharing my knowledge and experience in international tax law.
If I'm not working than I am out adventuring, exploring and travelling around the world. You can watch my journey on my main account @kathymcpaul. During the last year I've been to over 30 countries on every continent. In the last couple of months I've slowed down and enjoyed more the slow pace traveller lifestyle. I'm particularly in love with tropical destinations as I love the ocean, beaches, palm trees and surfing.
12 Ventura Road, Gold CoastQLD4218
Truth is a month ago I had never actually heard of „Lake Atitlan“. It turns out it is now one of my favorite places in Guatemala 🇬🇹. The lake is surrounded by a couple of volcanoes which creates an absolutely unique landscape.🌋 • There are several small villages scattered all around the Lake. The best way to explore them is by hopping on a boat and visiting as many of them as you can fit in a day.🚤 • One of my favorite places by the lake is San Pedro. It’s quite a popular spot for tourists but the town still has a very laid back atmosphere.😎 My favorite Café there was @sababasanpedro amazing food and great wifi. That‘s all ya really need.☺️ I probably went back 3 times to have their delicious hummus with pita plate.🤤 And I‘m still dreaming about it.😌💛🙌 • 📷 @jonny.melon
After having lived the Digital Nomad lifestyle for over a year I decided to write a blog post for anyone that is currently starting out their own Digital Nomad journey or for anyone that is in need of some helpful tools to increase their remote work productivity. That’s why I’ve put together a list of tools that will help you stay on track, boost your productivity and ultimately help you become a well-established, confident and professional Digital Nomad. I use this tool on a daily basis and it makes my life so much easier by suggesting me the right times in one click instead of having to google different time zones and calculating myself a potential meeting time. Another benefit of working out of a coworking space is that you’ll get to meet other Digital Nomads and benefit from events that the coworking space organizes.
In the end our love & respect for ourselves, allows us to love & respect others. So, be YOU, honour you & love you, and then spread the love.✨🙌🙏 • For anyone that loves the beach (especially a clean beach) go check out @waste4coffee they are a small portuguese 🇵🇹 environmental non for profit organization that aims to clean our beaches. . The way they are encouraging everyone to take action looks like this: They have numerous restaurant & café partners all over Portugal 🇵🇹. Anyone can go in and ask for one of their buckets, go to the beach, fill it with waste from the beach, and get rewarded with a cup of coffee by the restaurant☕️🙌🙏. . Even though there shouldn’t be a need to reward citizens to keep their beaches clean it is a simple and efficient way to spread the message and raise awareness on plastic and ocean pollution. Little actions combined can make a huge impact.🙏🙌 • ❗️@waste4coffee is now trying to take their project to an international level and they need your help. If their message resonates with you or if you‘re interested in becoming your country‘s ambassador than make sure to send them a DM!!!
Our goal is to make you aware of how ‘international tax law’ really works and hopefully this article will open up your mind about the fact that really there is no such thing as ‘international tax law’ but rather lots of different countries that are trying to design the most competitive tax laws to attract individuals and companies into their economy whilst still making sure that everyone is contributing their fair share to the government. The tax rates that apply in your home country can be completely different to the tax rates in your new destination country. Even when you hear that 100 OECD countries have signed an agreement – those agreements will still have to go through the national legislative system to become laws in that country and oftentimes they will have to be adapted and changed before they will be accepted into the country’s system. Or simply because a country is offering residency permits in exchange for some economic investment doesn’t mean that obtaining that country’s residency will benefit you in the long run.
🇬🇧 🇬🇧 🇬🇧 UK🇬🇧 🇬🇧 🇬🇧 . DID YOU KNOW... 💡...that setting up a UK company is very simple and straightforward? Foreigners can set up everything online. 💡...UK companies are taxed on their profits, regardless on the origin of those profits at a flat rate of 19%. 💡...There are several online banks based in the UK with which a UK company can openaccounts remotely. #corporations #company #business #digitalnomad #remote #entrepreneur #corporationsolution #incorporation #freelancer #goodsolution
Most importantly, you want to make sure that you get paid for your work and for this you should include a payment clause within the contract that states the payments terms, when payment is due, the payment methods available, the amount due and who to pay it to. Most of the times you probably don’t even realise that your employer has tax obligations and has to pay Social Security Contributions, Workers Compensation, Tax Withholding, Medical Care and Pension contributions. A corporation usually pays its own income corporate taxes which are separate from your personal income tax that you have to pay on your salary. Given the fact that you are about to embark on your Digital Nomad journey you might also want to consider incorporating your company in a lower tax jurisdiction as opposed to your home country.
💶💶Online Banking Solution💶💶 . DID YOU KNOW 💡...that Revolut is an online banking solution that allows you to set up a free virtual bank account with IBAN, transfer money in 29 currencies and withdraw money from 120 countries. 💡...This means that you don’t have to open a traditional business bank account to run your business but instead you can do it all online, remotely and with access to a debit card. • We’ve written a blog post about alternative banking solution on our website. Make sure to check it out! #revolut #onlinebanking #traditionalbanking #alternativebank #digitalbanking #digitalnomad #entrepreneur #remotework #remotejobs #solutions #globalcitizen
However, hiring people means that you’ll have much more responsibilities which include administrative things such as making sure that you get your employees tax identification number and social security number, making sure that you comply with guidelines and that you withhold correct amounts from every pay check for taxing obligations. This means, that if you run your business through a sole proprietorship, all your income will be taxed at your personal income tax rate. Tax rates are oftentimes lower than personal income tax rates which means you have to give less to the government if you run your business through a corporation. Also, in many countries if you run your business as a sole proprietorship you have to pay self-employment taxes which are likely to include your own Social Security contributions and potentially Medical Care taxes on all of the business’ income.
DID YOU KNOW... 💡...that Puerto Rico offers some of the greatest tax incentives to US citizens? 💡...if a US citizen becomes a Puerto Rican tax resident then he or she will be eligible for 0% US federal income tax, a 4% corporate tax and 0% capital gains tax and dividends tax. 💡...Most people achieve those benefits by incorporating a business in Puerto Rico which provides services to clients worldwide. #internationaltax #corporatestructure #secondresidency #digitalnomad #entrepreneur #remoteworker #tax #globalcitizen #taxstrategy #corporatesolutions #taxresidency