NL digital nomad looking to relocate

[89239238]

Hi,

I’m a citizen of the Netherlands. I am self-employed and make a profit of about 70k per year. I only need a laptop to work.

Currently I’m renting an apartment in NL that costs me about 10k a year and I’m paying taxes and health insurance which add up to about 20-23k a year. My car is also costing me about 1,5k a year in taxes and insurance alone.

My savings add up to about 75k.

I like to travel and spend time in SE Asia, specifically Thailand, Vietnam and other countries in the region. My ideal would be to spend 4 or 5 months per year there during the winter. I’d like to spend the other time in Europe, but not necessarily in NL. Preferably during the summer.

I am currently looking at options which work out cheaper than my current situation in which I am throwing away money on tax and on rent.

I have looked at Romania, Bulgaria and Portugal.

One important aspect is that I have a study loan which I stil need to pay off for 5 years, unless I have low income. I have paused the payback at the moment, which you can do for a maximum of 5 years. So once I relocate, I’d like to set it up in such a way that I keep my legal income low in the following 5 years, so that I can reactivate the payback of the loan but be exempt from paying it back because of my low income. If I don’t find a way to set it up this way and my income remains high, I will have to pay back around 15k in study loans which is also not the end of the world if I find a nice and cheap place to live.

Out of the three options, Portugal attracts me more from a personal point of view; it seems it is a bit more sophisticated, there seem to be plenty of options for cultural entertainment (museums, theaters, etc.), there are mountains, the beach and beautiful cities, and delicious food. Also I speak Italian and Spanish quite well, so Portuguese should be easy to learn. And I believe there is no minimum residency requirement under their NHR scheme, so it seems I wouldn’t even have to spend 6 months per year in Portugal. However, since I’m self-employed, I believe I will have to pay a 20% flat tax rate plus social security if I relocate to Portugal. I'm not sure if it would work out much cheaper than in NL.

Romania and Bulgaria I’ve never been to before, but I’m planning to visit this summer. Romania seems attractive because the language is similar to Italian and Spanish and the alphabet is easier to read. Bulgaria might attract me more than Romania at first sight, but I am not quite sure why.

Any advice would be appreciated.

 

[Sols]

In my experience, most people in your position end up in Malta and Cyprus under the non-domicile schemes. You might end up with a marginally higher tax bill than in Bulgaria or Romania, but I think most people are happy with that over the extra bureaucracy, language barrier, and surprises along the way with Bulgaria or Romania.

Portugal isn't designed for someone like you. The only way it works is if no one in Portugal questions your setup, which so far they haven't been doing. It's a program designed for wealthy people living off of passive income.

 

[kkein]

with 70k/year i think you might have the same amount of expenses as you are paying taxes right now, if not more. Do the math properly/consult a provider before taking the turn. The digital nomad life is not easy turn into fun, and you would probably lose a lot of benefits/insurances you have in NL.

 

[thedirtyteller]

Hi,

I’m a citizen of the Netherlands. I am self-employed and make a profit of about 70k per year. I only need a laptop to work.

Currently I’m renting an apartment in NL that costs me about 10k a year and I’m paying taxes and health insurance which add up to about 20-23k a year. My car is also costing me about 1,5k a year in taxes and insurance alone.

My savings add up to about 75k.

I like to travel and spend time in SE Asia, specifically Thailand, Vietnam and other countries in the region. My ideal would be to spend 4 or 5 months per year there during the winter. I’d like to spend the other time in Europe, but not necessarily in NL. Preferably during the summer.

I am currently looking at options which work out cheaper than my current situation in which I am throwing away money on tax and on rent.

I have looked at Romania, Bulgaria and Portugal.

One important aspect is that I have a study loan which I stil need to pay off for 5 years, unless I have low income. I have paused the payback at the moment, which you can do for a maximum of 5 years. So once I relocate, I’d like to set it up in such a way that I keep my legal income low in the following 5 years, so that I can reactivate the payback of the loan but be exempt from paying it back because of my low income. If I don’t find a way to set it up this way and my income remains high, I will have to pay back around 15k in study loans which is also not the end of the world if I find a nice and cheap place to live.

Out of the three options, Portugal attracts me more from a personal point of view; it seems it is a bit more sophisticated, there seem to be plenty of options for cultural entertainment (museums, theaters, etc.), there are mountains, the beach and beautiful cities, and delicious food. Also I speak Italian and Spanish quite well, so Portuguese should be easy to learn. And I believe there is no minimum residency requirement under their NHR scheme, so it seems I wouldn’t even have to spend 6 months per year in Portugal. However, since I’m self-employed, I believe I will have to pay a 20% flat tax rate plus social security if I relocate to Portugal. I'm not sure if it would work out much cheaper than in NL.

Romania and Bulgaria I’ve never been to before, but I’m planning to visit this summer. Romania seems attractive because the language is similar to Italian and Spanish and the alphabet is easier to read. Bulgaria might attract me more than Romania at first sight, but I am not quite sure why.

Any advice would be appreciated.

In Romania, social security is capped at around 4000k EUR a year and then you have 10 percent income tax, so the more you make, the less you'll pay. Rent here is dirt cheap, you can find a luxury studio for like 350 EUR a month, and utility bills are 100-150 EUR. I also moved from Northern Europe and have saved a lot already. I've no idea why people keep bringing up bureaucracies and headaches. I haven't dealt with either, only stray dogs which I'm not fond of.

 

[bamboozlethemall]

Hi,

I’m a citizen of the Netherlands. I am self-employed and make a profit of about 70k per year. I only need a laptop to work.

Currently I’m renting an apartment in NL that costs me about 10k a year and I’m paying taxes and health insurance which add up to about 20-23k a year. My car is also costing me about 1,5k a year in taxes and insurance alone.

My savings add up to about 75k.

I like to travel and spend time in SE Asia, specifically Thailand, Vietnam and other countries in the region. My ideal would be to spend 4 or 5 months per year there during the winter. I’d like to spend the other time in Europe, but not necessarily in NL. Preferably during the summer.

I am currently looking at options which work out cheaper than my current situation in which I am throwing away money on tax and on rent.

I have looked at Romania, Bulgaria and Portugal.

One important aspect is that I have a study loan which I stil need to pay off for 5 years, unless I have low income. I have paused the payback at the moment, which you can do for a maximum of 5 years. So once I relocate, I’d like to set it up in such a way that I keep my legal income low in the following 5 years, so that I can reactivate the payback of the loan but be exempt from paying it back because of my low income. If I don’t find a way to set it up this way and my income remains high, I will have to pay back around 15k in study loans which is also not the end of the world if I find a nice and cheap place to live.

Out of the three options, Portugal attracts me more from a personal point of view; it seems it is a bit more sophisticated, there seem to be plenty of options for cultural entertainment (museums, theaters, etc.), there are mountains, the beach and beautiful cities, and delicious food. Also I speak Italian and Spanish quite well, so Portuguese should be easy to learn. And I believe there is no minimum residency requirement under their NHR scheme, so it seems I wouldn’t even have to spend 6 months per year in Portugal. However, since I’m self-employed, I believe I will have to pay a 20% flat tax rate plus social security if I relocate to Portugal. I'm not sure if it would work out much cheaper than in NL.

Romania and Bulgaria I’ve never been to before, but I’m planning to visit this summer. Romania seems attractive because the language is similar to Italian and Spanish and the alphabet is easier to read. Bulgaria might attract me more than Romania at first sight, but I am not quite sure why.

Any advice would be appreciated.

DM me for reducing your legal income.