So, I just got this remote gig that’s looking to pay me $2,000 a month, which is pretty sweet for my first stable remote income. I’m from Morocco, and I’m all about making the most of this opportunity. I’ve been doing my homework on where to live, how to handle taxes, and the best way to get my cash without losing it all to fees. Here’s what I’ve dug up on making the most of my $2k monthly income:
First off, there are some countries that seem like a good fit for folks like us looking to keep taxes low and maybe snag a nomad visa. Georgia is on the list with a tax rate of around 1% under a small business setup, plus it’s got a low cost of living and easy residency options. Then there’s Thailand, where tax rates can range from 0 to 10%, and the lifestyle is pretty sweet and affordable. Brazil could be another option with a tax rate of around 15% and a relatively low income requirement for their nomad visa. UAE, particularly Dubai, caught my eye with its 0% income tax, but the visa needs a bit more cash flow, maybe something to consider down the road. Portugal and Spain are tempting destinations too, but the taxes are a bit higher in the range of 20-24%, and the income threshold is higher than what I’m bringing in.
My main goals are to keep taxes in check, find a safe and enjoyable spot to live, save up some cash, and maybe use it as a launchpad for some travel adventures. So, I’m wondering: 1. Where would you suggest I set up shop based on my $2,000 monthly budget and why? 2. Are there any countries out there offering low or even 0% taxes that would work for me at this income level? 3. What’s the deal with getting my salary internationally with the least amount of fees? I’ve heard of Wise, Payoneer, Deel, direct bank transfers in USD, and offshore or international banks. But I’m after real stories here: • Who charges the lowest fees? • Who’s the most reliable? • Who’s the easiest to stick with for the long haul?
If you’ve been around the block with remote work, any tips you wish you’d known when you were starting out would be a massive help. Let’s make this remote work dream a reality without losing our minds