I am a US citizen but plan to live in Europe and travel around for a few years.
- Thread starter invortex
- Start date
Exactly...
We do not know if he's talking about countries in Europe (Schengen Area...single jurisdiction for international travel), Asia, South America or Africa.
Yet, the only thing we do know that he's from the U.S., he plans to trade while living outside of the U.S. and that he's concern about his tax obligations.
He did use an example of Spain & Portugal which is part of the Schengen Area but I myself took that as only a hypothetical situation. Someone else here at ET asked a similar like question and I think he used Spain as a hypothetical situation but later specfically stated he's currently living in Asia and will be traveling in South America...he too was from the U.S. and concerned about his tax obligations.
Not sure why folks are afraid to be upfront in the beginning about what country they're currently living in and what countries they plan on traveling within when they asked these tax related countries.
My guess, he's either in Spain or Portugal and plans to move back n forth between the two countries. Hopefully, he didn't use those countries when he's actually talking about countries outside of the European Union.
wrbtrader
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He can pull this off, but he won't get a drivers license or state ID without a physical address. They require two proofs of residence in the state, one of which can in fact be the mail forwarding service address but he'll still need to provide one more document... a lease, a utility or phone bill, vehicle registration, bank statement, pay stub, etc.
I guess if he doesn't need a drivers license or state ID, it should work for him. The Real ID Act goes into effect once and for all next October. You'll need a compliant ID to even fly domestically or to get into most Federal buildings.
Everyone should look at their drivers licenses btw. If you don't have a gold star in the upper right hand corner it doesn't matter if you just renewed it and have 5 years left until it expires.... it won't get you on a plane come next October. Most people don't have the upgrade yet. A work-around is a valid passport though. I think. https://www.governing.com/topics/transportation-infrastructure/sl-real-id-rollout-challenges.html
Oh yeah... there's one more hitch to this SD residency thing they don't mention lol... he can get called for jury duty. He'll be traveling back to bumfuck-egypt just to check in and then more than likely be told they don't need him. How much time and $'s will that cost?
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That's exactly what happen to me but I had just return back to the states from Japan and living in Seattle...contemplating about changing my drivers license from South Dakota to Washington...picked up my mail that was mailed to me by my grandmother...got called for jury duty back in South Dakota.
Luckily I was living in Seattle and not Japan. More importantly, I had a physical address at that time still in South Dakota via my grandmother. Easy for me to go back for jury duty.
There's other issues for nomads that travel the world and trading...health insurance especially if you have a serious health issue or serious accident. I maintain health insurance in two different countries...neither are the U.S.
+15 years later of perfect health and fitness...the unthinkable happen. Pneumonia, coma, life support and many other problems...I had to be medevac from one country to another country because my family felt that the care would be better.
My insurance paid for all of that.
You gotta be prepare if you're going to live like a nomad because shit happens sometimes. Thus, you need to worry about more than just taxes.
P.S. Make good friends along the way, stay in contact because you may need their help down the road one day. Also, when entering a new country...make it a high priority to visit the embassy/consulate of the country you're a legal resident/citizen....keep all the contact info they give you.
Being a nomad is not as glamourous as some make it out to be. You may avoid one thing but create bigger problems via something else.
wrbtrader
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HiExactly...
We do not know if he's talking about countries in Europe (Schengen Area...single jurisdiction for international travel), Asia, South America or Africa.
Yet, the only thing we do know that he's from the U.S., he plans to trade while living outside of the U.S. and that he's concern about his tax obligations.
He did use an example of Spain & Portugal which is part of the Schengen Area but I myself took that as only a hypothetical situation. Someone else here at ET asked a similar like question and I think he used Spain as a hypothetical situation but later specfically stated he's currently living in Asia and will be traveling in South America...he too was from the U.S. and concerned about his tax obligations.
Not sure why folks are afraid to be upfront in the beginning about what country they're currently living in and what countries they plan on traveling within when they asked these tax related countries.
My guess, he's either in Spain or Portugal and plans to move back n forth between the two countries. Hopefully, he didn't use those countries when he's actually talking about countries outside of the European Union.
wrbtrader
I won't be going to Asia or South America. I'll be traveling between Spain, portugal and Norway, Denmark.
I'll be staying in airbnb until and only if I ever feel like staying anywhere longer then I'll rent something for longer. (Right now it's highly unlikely). I just want to travel, sight see and chill).
I currently have a CA drivers license but I haven't lived there for many years. I don't own a car nor drive anymore. For my banking I always show my passport since they tell me my license is invalid.
I'm not going to not live in Europe just because I might get called for jury duty!!!!
Thanks for the info.
By the way, I think the forum owner (Baron) here at Elitetrader.com should create a new thread section for traders / nomads living abroad & traveling. I would love to see discussions and recommendations about airbnb used by other traders especially about how good the internet connection they had while trading.
He can call it Nomad Adventures.
wrbtrader
I travel and enjoy it. I been traveling since I was 4 years old. To the jungles of Panama and Belize. To the cities of said countries. Years in Honduras. More years in The Highlands of Mexico and the lowlands of Mexico. Numerous trips in Guatemala. Been to El Salvador. Been to Argentina.
I would just say I need to be mentally prepared to be buried in whatever country I drop dead in (if I were to drop dead, of course). To avoid hassle for family and friends bringing my carcass back home. The Department of State has no funds to assist in bringing a body back to the USA. Plus death certificate, embalming certificate all have to be obtained along with approval by USA to transport the body.
As far as jury duty. I have been called several times but when I explained the reason it was difficult for me to present myself I have always been scratched off the list. But DO NOT ignore any notice. Call and explain.
In most countries in Latin America a visitor won’t need a car or need to drive. Not sure about Europe.
Also I like to make sure a will is in order for any assets.
Females probably need to take care traveling alone especially in more dangerous areas. Make friends wherever you go! I have many. Probably to the disbelief and shock of many here on ET! ROFL
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OP, check out these subreddits:
https://old.reddit.com/r/digitalnomad/
https://old.reddit.com/r/expats/
Also:
https://www.transitionsabroad.com/listings/living/resources/expatriatewebsites.shtml
12 rules to living abroad:
https://www.forbes.com/sites/alexan...eeds-to-do-before-moving-abroad/#4f3ce236b6b7
https://old.reddit.com/r/digitalnomad/
https://old.reddit.com/r/expats/
Also:
https://www.transitionsabroad.com/listings/living/resources/expatriatewebsites.shtml
12 rules to living abroad:
https://www.forbes.com/sites/alexan...eeds-to-do-before-moving-abroad/#4f3ce236b6b7