Where to Incorporate Your Company as a Digital Nomad
Updated on Tuesday 07th May 2019
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A digital nomad is a new term that defines a person who works from a remote location and who is not bound by developing his or her business activities in a given office space. The term defines, as its name suggests, the worker who develops his or her tasks with the assistance of modern means of communication (laptops, smartphones) which are connected to the internet.
As a general rule, digital nomads are characterized by the fact that they can easily travel from one destination to another and they can generally work in places such as coffee shops, libraries, recreational locations, from home or any other place that can accommodate their basic work needs. Although this type of business activity can be found in most of the world’s countries, several jurisdictions provide the best conditions.
Some of the best countries suitable for starting a company as a digital nomad are Singapore, Hong Kong, Georgia and Romania; our team of consultants in offshore company formation can assist with in-depth advice on the legal framework provided by each of these countries for starting a digital nomad business, and can also assist during each of the registration steps.
Why incorporate a company as a digital nomad in Singapore?
Although Singapore is a small country, it represents one of the global leading economies and it is known as the commercial capital of the South East Asia. Thus, businessmen of all kind can have very attractive business opportunities, this also being applicable for digital nomads. Persons who are thinking of becoming digital nomads can open a company in Singapore due the following reasons:
- easy access to internet services, the simplest way being through a SIM card that is inserted into the smart phone;
- in order to purchase a SIM card in Singapore, a foreigner has to present his or her passport and the passport details will be attached to the selected phone number;
- a telecommunication package through prepaid SIM cards costs between $5 to $50;
- Singapore provides access to one of the fastest internet speeds available at a global level;
- it also offers very generous options for coworking spaces, created especially for business purposes.
Why incorporate a company as a digital nomad in Hong Kong?
Another Asian country that offers some of the top market conditions for becoming a digital nomad is Hong Kong. Businessmen who are interested in the procedure of company formation in Hong Kong must consider that this jurisdiction has a high standard of living, which can lead to higher monthly costs compared to other similar countries in its region, but Hong Kong also benefits from one of the fastest internet speeds at a global level.
More importantly, the Hong Kong market already provides the necessary infrastructure needed for a digital nomad, through numerous coworking spaces that offer all the means for being productive while working. An advantage of working as digital nomad in Hong Kong through a coworking space is that the person can meet other entrepreneurs, thus increasing the opportunity of developing various business partnerships and networking relations.
Why incorporate a company as a digital nomad in Georgia?
Situated between Asia and Europe, Georgia is nowadays one of the most attractive business destinations in this region, as the local authorities have created a legal framework suitable for attracting foreign investments. The country is welcoming to foreigners and digital nomads can relocate here without going through relevant and costly immigration procedures, as the local legislation allows foreigners to live here without the issuance of a visa for a period of one year.
However, this regulation can be applied for the citizens of specific countries or groups of countries, such as the European Union, the Asian countries or the United States of America; our specialists in offshore incorporation can assist with more information concerning the immigration law applicable in Georgia. The country also has fast Wi-Fi speed, of approximately 9 Mpbs and, as opposed to Asian countries, digital nomads will benefit from very low monthly costs.
Why incorporate a company as a digital nomad in Romania?
Located in the Eastern Europe, Romania is the best business destination in its region for IT businesses, considering that the IT sector (and the IT infrastructure) expanded here at a very rapid pace. Thus, digital nomads seeking for a very reliable telecommunication infrastructure, with very good internet speed, can choose Romania as their place to develop a business.
Those who want to open a company in Romania as digital nomads can benefit from access to Wi-Fi in almost all the coffee shops available in large cities; also, the country has the best internet speed in Europe and, in the last years, large cities have created attractive coworking spaces, suitable for the work of digital nomads. Persons interested in finding out more information on how to start a business as a digital nomad can contact our team of consultants in offshore company setup.