Running an internet business while on the road traveling

14 years ago

So nobody has ever run an internet business while traveling then? Very surprising, as I'd have thought it was the obvious idea and the ultimate lifestyle to be able to work from anywhere in the world and travel to loads of exotic locations whenever you want!

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dvduval

14 years ago

Well, I have not stayed in multiple countries, but I think the answer is going to have to do with where you do your banking since you will need a physical address. Certainly some countries have different laws that can be somewhat exploited.

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williamrs

14 years ago

I don't live in UK, so I can't answer your questions. However, I like to travel just as much as you.

My problem now is that my business is not allowing me to travel as much as I would like. I have to work about 6 hours a day from Monday to Friday and now I also have an offline company to manage. PPC campaigns + membership site (still under construction) + Offline design company = no trips. :/ Even if I excluded my offline company I still wouldn't be able to travel very often, because even having an online business I still would have to keep things organized and "flowing", and it's hard to do it if you are always traveling and having to worry about hotels, airplanes, etc...

However, I'm organizing my business to have more free time in the next year and then be able to to travel more often. After all, it's great to know different places, different people and different cultures!

William

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entrepreneurjay

14 years ago

thats the beauty of laptops you can take them anywhere in the world. As far as banking goes you can always have 1 main bank account use your parents address as your main address or someone related so you will not have any banking issues in your home country.

Can't you just Western union your money from the U.K to whatever country your in, there everywhere as far as i know!

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jan roos 14 years ago

Keep your money in your UK bank Account. You can withdraw money anywhere in the world with your UK atm card or you can pay with your credit card where Visa or MAstercard is accepted. You will incur a small charge ofcourse. Also, let your bank know that you are going to travel. I learned this the hard way. If they see charges coming from a lot of different countries they might put a hold on your cards but if you le them know before hand you will be fine,

As far as tax goes. You will probably have to pay tx in the UK since you will be using a bank account there.

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LondonPaladin

14 years ago

You need to talk to an accountant. They will know the tax rules. I know that for americans if you are outside of the country for 300 days you don't pay taxes on your first 85k.

So each country has VERY specific rules and you should get proper legal advice instead of secondhand internet forum rumors. If you mess up your taxes you will really regret it.

You could even talk to the local citizens advice bureau.

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ExRat

14 years ago

Hi neil_k,

The best thing you could do is seek out all of the blogs/forums that deal with this kind of thing. Apart from finding the specific answers to the questions you are asking, you'll find a whole bunch more that you haven't thought of.

You're doing the right thing by seeking knowledge, because this is something where it's wise to do your homework before you go because mistakes and lack of knowledge can be expensive.

You could start by checking out the website and book about vagabonding. Many of these sites will link out to other similar websites.

I'm from the UK, will I have to pay tax if I'm moving from country to country making my living online? As technically I won't be living in any one country for more than 3 to 6 months at a time.

It's got a lot to do with the timescales - do a google search for 'perpetual traveller' and you'll find that by planning the length of stays around the rules, you can gain financially.

Also, let your bank know that you are going to travel. I learned this the hard way. If they see charges coming from a lot of different countries they might put a hold on your cards but if you le them know before hand you will be fine

Jan is right, but you also have to consider other important money related websites - for example paypal and any large affiliate programs you use.

These websites have to be so careful about fraud that they will freeze your account just for logging in from different countries without forewarning them.

So to re-iterate - it's really important to spend as much time as possible getting educated beforehand. But there are lots of websites out there written by people who are on the road and they will have the best 'hands on' lessons on them AND they will link out to the resources THEY used which have been tested out on the road.

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nike-shoes

Banned 14 years ago

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kiopa

Banned 14 years ago

I'm in a good position to answer, as I've been doing this for years, and actually, currently living in NE Thailand. :-)

Originally Posted by neil_k

1) I'm from the UK, will I have to pay tax if I'm moving from country to country making my living online? As technically I won't be living in any one country for more than 3 to 6 months at a time.

You'll have to check with UK tax law, but I know with Canada, assuming I can prove I was outside of the country for more than 65% of the time in a year (passport stamps are all you need), I don't owe any tax at all. As for paying tax to whatever country you reside in, technically you're supposed to, but realistically, don't worry about it. Nobody is going to ask you anything.

Originally Posted by neil_k

2) What about banking issues? Could you maintain a bank account in one country if you are not there for extended periods of time? I had one of my accounts closed by a UK bank in the past because I was traveling and did not have a permanent address for a while, so I don't know if that could arise again?

I have a couple bank accounts which still work just fine. Just make sure money hits your account at least once every month or two, and there's no reason for them to close it.

Originally Posted by neil_k

What is the best way to go about getting your money while traveling?

ATM card. Have the funds hit your bank account, and pull it out at any ATM. Depending on bank & country, it can sometimes cost up to $10 just to pull money out of an ATM, but it's generally better this way. Dealing with local banking systems & financial laws when you're a foreigner is generally a pain, and best to be avoided if possible. You could also look into setting up an offshore account in Seychelles or something as well.

PS. Great idea! Lovin' life myself right now. I'll warn you though, if you travel too much (as I did), it can be hard on you. Every 3 - 8 months you're in a new city, country, language, culture, no friends, no nothing. Constantly restarting your life over like that for prolonged periods can be hard.

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AllAboutAction

14 years ago

Originally Posted by neil_k

1) I'm from the UK, will I have to pay tax if I'm moving from country to country making my living online? As technically I won't be living in any one country for more than 3 to 6 months at a time.

If I were you I would get some tax advice. But I would say that you need to pay the tax in the country where the revenue is collected. I've done what you are proposing, and no matter where I had my laptop, the money was collected by a US merchant account and deposited into my company's US bank account. It doesn't matter if I was in outer Mongolia, that's US income.

In fact, if you don't have work permission in the countries you're visiting (and you won't get this by default) you shouldn't claim you're "working" in those countries anyway. I'm not a tax guy, so take this with a grain of salt, but I'm guessing yours will tell you the same thing: just pay the tax in your home country and call it a day.

Originally Posted by neil_k

2) What about banking issues? Could you maintain a bank account in one country if you are not there for extended periods of time? I had one of my accounts closed by a UK bank in the past because I was traveling and did not have a permanent address for a while, so I don't know if that could arise again?

What is the best way to go about getting your money while traveling? I mean assuming I'm paid direct into my bank account via Paypal or Clickbank, how would I withdraw the money abroad? Is there an alternative to the standard bank account route for an internet business owner while traveling?

Check into HSBC. They have certain programs where they will help you open bank accounts in other countries and allow you to transfer money between them. If they're in the countries you're planning to visit, this will make things easy. Even then, though, you might find it hard to open up a bank account in some countries with just a tourist visa.

Even if that's the case, though, you can use ATMs in many countries, just be advised that you'll pay some fees. There's also American Express that can help you get cash.

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Jill Carpenter

14 years ago

Originally Posted by neil_k

1) I'm from the UK, will I have to pay tax if I'm moving from country to country making my living online? As technically I won't be living in any one country for more than 3 to 6 months at a time.

I'm not a lawyer or accountant.

Ok," technically" when you think about it, a lot of businessmen travel out of the country for meetings, etc - but when they have these meetings they don't pay taxes to that country. They pay taxes to their home country. If all the business you are doing is online, then it is possible to set up a few things to establish where your business is exactly.

2) What about banking issues? Could you maintain a bank account in one country if you are not there for extended periods of time? I had one of my accounts closed by a UK bank in the past because I was traveling and did not have a permanent address for a while, so I don't know if that could arise again?

Yes you can maintain an account in one country.

Again, you need to establish a business address in a specific area. Personally I have an "office" set up in one state - but if you go there you will find I just have a little drop mail box. It is someone elses office too - so I am able to call them to forward my mail and deal with local things when they occur. I pay for this service and it is well under $100 a month.

I did set things up as a business to begin with - so that is something to keep in mind. Do what you need to establish a long term mailing address and set up a business account with the bank that goes to that address. You don't have to pay for an entire office. Find someone (like an accountant) who you can possibly explain your situation to and see if they'd like to act as your virtual office.

What is the best way to go about getting your money while traveling? I mean assuming I'm paid direct into my bank account via Paypal or Clickbank, how would I withdraw the money abroad? Is there an alternative to the standard bank account route for an internet business owner while traveling?

Get a paypal debit card, and you link your bank accounts to your paypal account. Linking the banks in will allow you to transfer funds into your personal account.

Just about everyone uses visa, mastercard, etc these days. I don't know what situation you have over in europe, but I seem to recall traveling abroad many moons ago and taking some cash out of an ATM machine.

Also, remember that virtual office I just told you about? I had a stamp created at the bank. I get checks to that office from my online earnings and those checks get stamped (like me signing it) and my people there put those checks in the bank for me.

So, It is all doable. I think having a reliable system/network in place makes all the difference in the world as well as planning ahead for everything needed to run a business as if you were just temporarily away.

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Toby Lewis

14 years ago

Originally Posted by avenuegirl

I'm not a lawyer or accountant.

Ok," technically" when you think about it, a lot of businessmen travel out of the country for meetings, etc - but when they have these meetings they don't pay taxes to that country. They pay taxes to their home country. If all the business you are doing is online, then it is possible to set up a few things to establish where your business is exactly.

With Australia if you spend more than 6 months out of the country you are a 'non resident for tax purposes' which is handy

I dont think it would be to bad if you spend extended time in each location, but I think it would be a bit of a struggle to keep finding an decent net connection every day/week in a different spot. I backpacked around Europe a few years ago and all the advertised hostels with 'free wifi' either didnt work or were hellishly slow. It was hard enough checking emails let alone running a business.

I also hate working from laptops... but I could get used to it if it means waking up in Munich one month and Barcelona the next

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AllAboutAction 14 years ago

With regards to your mailing address... I use a service in the US that receives mail, scans it, and puts it online in PDF format. They'll also forward packages and other mail to you anywhere in the world. You might want to check to see if there is something similar in the UK.
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skgeorge

14 years ago

Sounds nice actually. BTW why do you want to change the permanent address ? You can set a wire transfer to your bank account in your home country and take a master card with the same account. I think in most of the countries you can pay your bills using the card.

For doing your business you just need a laptop and Internet access, so there is no need to worry about that

Anyway I too impressed with your idea of running and running

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spearce000

14 years ago

Originally Posted by neil_k

1) I'm from the UK, will I have to pay tax if I'm moving from country to country making my living online? As technically I won't be living in any one country for more than 3 to 6 months at a time.

Knowing how skint our country is at the moment, probably yes. A good accountant could advise you about this.

2) What about banking issues? Could you maintain a bank account in one country if you are not there for extended periods of time? I had one of my accounts closed by a UK bank in the past because I was traveling and did not have a permanent address for a while, so I don't know if that could arise again?

As other posters have pointed out, talk to your bank first. PayPal are notorious for freezing accounts if you log-in from another country. As far as somewhere to send the bank statements is concerned, you could always get a PO box or get a friend or relative to let you use their address.

One thing you might want to consider, if you're not going to be in a particular country for any length of time, is working through a limited company in an offshore tax haven like Gibraltar or the Maldives. Again, a good accountant could advise you on this.

Another thing you should do while you're away is make voluntary NI contributions. That way you'll keep up your entitlement to your state pension and the NHS.

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seoguy0

14 years ago

I have been doing this all of my professional career. Even though you're taking your business on the road, you still need to find time to concentrate on your work if your business is to succeed.

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Anonymous Affiliate

14 years ago

As someone who's traveled around the world and who "tried" to run his internet business off my laptop while on the road, here's my opinion: it's more difficult than it looks like. You will be able to manage your already-existing content and websites, but you will not be able to create new projects (at least I couldnt). There are too many distractions, too many wobbly internet connections, too many days you won't be able to get online, etc.

When I traveled with my laptop around South East Asia for a few months, I could run and manage my already-existing sites but I never managed to release new stuff. And in this dynamic IM business you need to be constantly creating or soon your income starts to slow down.

IM is perfect for the expatriate type of life, but not so for the vagabonding type of life.

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Running an internet business while on the road traveling

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