This week, Faizan and Faisal spoke about getting the house in order to:
1) Explore Nomadic Visas
2) Identifying locations that work(for you)
3) The workflow to enable yourself
They spoke about Exploring Freelancer Visas to Build a 1 Person Business:
1) You need to have a business in place
2) What does that mean?
a) Have contracts in place with people who you work for
b) Show tax compliance
c) Have the ability to show earnings from platforms
3) Be discoverable online
4) Have presence & Identity that matches the work based on which you will apply for nomadic visas
5) Do you research on requirements
6) Figure out your burn rate as coefficient of quality of life you want to lead
7) Research research
8) If you are unable to build a business/revenue in the market you are in today, most other markets wont agree to have you come over as a freelancer to try and build a new business from zero
9) Know the difference between entrepreneur, freelancer & nomadic visas, they are all different
10) You need atleast one financial taxation cycle to get the house in order to apply
11) Treat this as a way to build a sales funnel once you arrive in a new market(by meeting people, businesses etc.) Diversity of engagement opens new avenues
12) Free lancers visas typically aren't the access route to immigration or local employment, they are routes to potentially PR or long term residency, don't confuse the two.
13) We got a great example from Shazia who messaged & shared a teaching/tutoring business directed at a diff market
13a)Her market is that of home schooled kids of folks who travel on boats/ships etc. Typically entering college doing remedial math and science
13b) She bills out at 250$/h does around 80 hours a month grosses $20k a month and in the summer months around 27k$.
14) Moral of the story is, free lancing is not just tech, it can be any thing, also being based in the GCC a low to no tax regime shes optimized for taxation.