Digital Nomad Capitalist: Citizens of the World
You may be familiar with digital nomads. But have you heard of nomad capitalists? This emerging class of global entrepreneurs is redefining what it means to travel and work internationally.
In this article you’ll discover the Top 3 locations chosen by Digital Nomad Capitalists for their economic vibrancy, business-friendly environments, and global influence.
Once you discover what sets this new breed of global citizen apart, you might find yourself eager to join their ranks.
While many digital nomads are already living a life others only dream of, the real revelation is the sheer number of people—just like you—who are seizing the surge in remote work opportunities. This growing trend is opening exciting new possibilities for those ready to embrace a more flexible, international way of life.
Five million independent workers currently describe themselves as digital nomads, and another 17 million aspire to someday become nomadic.
American citizens are opting-out of being limited to life in a single country and opting-in to becoming citizens of the world. For Digital Nomad Capitalists, world travel and international living are not only possible, they’re preferred.
Where are they all going? Places you wouldn’t have even considered not that long ago.
Digital Nomads
When one thinks of digital nomads, it’s easy to picture a young, stylish Millennial or Gen Zer staring intently at their laptops on a picturesque island in Southeast Asia. They’re carefree, go where they want, and take life as it comes.
This impression could easily have grown from the romantic notion of students taking gap years to backpack through Europe. Add a laptop and WiFi—instant Digital Nomad.
There’s only one problem. The perception is not reality.
Research done by MBO Partners finds 44 percent of digital nomads are over the age of 38 and earn more than $75,000 annually. You don’t need to be young and own a backpack to be a nomad—digital or otherwise.
Countries are actively courting digital nomads, global entrepreneurs, and foreign investment. Innovative countries like Estonia, United Arab Emirates, the Republic of Georgia, and others, see the favorable economic impact remote workers bring with their knowledge and spending power. They respond, in-kind, with business-friendly regulations, favorable tax incentives, and ease of doing business in their country. A welcome symbiotic relationship.
Incidentally, Dubai–in the UAE–is one of those Top 3 destination favored by Digital Nomad Capitalists. In a moment, I’ll also share with you an up-and-coming fourth location that’s impressing even the most discerning world travelers.
Rise of the Nomad Capitalist
The quickly emerging upscale lifestyle on the world stage is that of the nomad capitalist. This is an amalgamation of the entrepreneur and the digital nomad. The world is their playground as well as their mobile office—the ultimate in working remotely.
A pioneer blazing the trail is Nomad Capitalist, Andrew Anderson. His global firm works with high-net-worth clients providing offshore tax planning, dual citizenship, asset protection, and global diversification.
The top two benefits most widely shared by nomad capitalists and digital nomads are financial freedom and location independence. The itinerary is markedly different than the life path expectations handed down from earlier generations; an adjustment Baby Boomers (born between 1946-1964) are making. Gen X and Gen Z generations, on the other hand, are already embracing the life-changing adventure of international travel and global living.
Financial Freedom in One Move
I’m a Baby Boomer and retired early some 15 years ago. It didn’t last long. I didn’t need to work but I found I wanted to. I learned my happiness came from my productivity and the value I provided others. I joined other Boomers that are ‘unretiring’ to get in on the fun and fulfillment.
One of the reasons I was able to do this was because of financial freedom. I did an entire video on how to Double Your Retirement Nest Egg in One Move.
You should know you’ll need to step up your self-discipline and self-management. Lines will become blurred between your business, personal, and travel lives. Over time, these become one. It will feel more natural. You won’t be juggling various lives; you’ll be living an adventure of your own design.
Now, that’s true freedom.
Location Independence
When we talk about becoming nomadic, what we’re really inferring is location independence. Once you’re not dependent on being in a certain location to provide value and earn compensation, you open up a world of opportunity. Location independence is the key to becoming nomadic.
When we think of independence, it’s often in a national, patriotic sort of way. America’s founding fathers made a declaration of it.
This independent free-thinking has permeated the American culture for nearly the past 250 years. Today, as personal freedoms are being tested, personal independence is taking a higher profile in our personal lives. Individuals are expanding the view of what it means to be free and in which locations they would want to exercise this independence.
When open-minded Americans embrace what it means to be truly free, they also recognize they are not relegated to experiencing that freedom strictly within the borders of a single country. That’s not actually freedom, is it?
Location independence ushers in a sense of freedom beyond our imaginations.
Most of us have never thought about autonomy on a global scale. Living and working from anywhere (or everywhere) never seemed possible so it wasn’t a consideration. We became accustomed and comfortable with our small slice of the American pie and never ventured too far away from accepted norms.
Maybe it’s time to look beyond the horizon.
Let me introduce you to two people who expanded their vision of what was possible…
Elia and Naomi Locardi ventured off on a global nomadic lifestyle creating the art that gave them joy. Immersed in their professional photography business, they made a promise to themselves that they would make experiences the highest priority in their lives.
As soon as we decided this is what we
were going to do, we were all in.
With total commitment to their passions, Elia and Naomi have traveled to more than 65 countries. They collaborate with major companies, brands, NGOs, and tourism agencies on nearly every continent. Elia’s amazing photography appears in numerous publications including National Geographic.
A perfect example of location independence AND financial freedom.
Top 3 Locations
If you work from home, you can work from anywhere. As a remote worker, once you realize where you live doesn’t matter, the possibilities are endless. It’s fun to drop into ‘possibility thinking’ and let your imagination run wild.
If your idea of going to the office is flexible, you and your digital device(s) have options: a café in Colombia, a Starbucks in Singapore (147 choices), or a beach in the Caribbean.
Here are the Top 3 choice locations for economic vibrancy, business-friendly environments, and global influence.
Dubai
Ease of doing business and exceptional infrastructure are two reasons the world's top entrepreneurs choose to do business in Dubai. The UAE (United Arab Emirates) is a highly sought-after destination among investors and executives, creating a business climate like no other on the globe.
Dubai ranks highly for ease of doing business with minimal bureaucratic hurdles. The city boasts a stable political environment, a transparent legal system, and robust protection for intellectual property rights. Additionally, Dubai's Free Trade Zones offer tailored environments for industries like technology, finance, media, and logistics, fostering innovation and growth.
Dubai offers various visa options to facilitate remote work and long-term residency. The city provides a high quality of life with excellent healthcare, world-class education, and a safe, secure environment. The city's modern infrastructure includes an extensive public transportation network, advanced telecommunications, and a highly developed financial sector.
Singapore
Singapore's ease of doing business, advantageous tax regime, high quality of life, and robust infrastructure make it a prime destination for Digital Nomad Capitalists.
It consistently ranks highly in global ease-of-doing-business (currently 2nd), thanks to its streamlined process for starting businesses. A key contributor to Singapore's stability and economic success is its legal system – a blend of English common law heritage and local statutory developments renowned for its clarity, efficiency, and strict enforcement.
Home to the best and safest offshore banking center in the world, Singapore offers a competitive corporate tax rate of 17% and no capital gains tax. The city-state also provides industry-specific incentives for finance, technology, and biotech sectors.
Singapore's quality of life is outstanding, featuring top-tier healthcare, education, safety, and a vibrant multicultural society. Its world-class transportation and connectivity, including Changi International Airport and high-speed internet, support both business and personal needs.
Malta
Malta stands out as a prime location for affluent entrepreneurs and digital nomads, offering a blend of upscale living and attractive tax benefits. The corporate tax rate of 35% can be effectively reduced to as low as 5% through tax refunds, making it a favorable environment for businesses.
Expats and skilled professionals benefit from a 15% income tax rate, with retirees enjoying the same rate on Malta-sourced income and exemptions on foreign income and capital gains. With no wealth or inheritance taxes, Malta appeals to high-net-worth individuals.
The island features a Mediterranean climate, rich cultural heritage, modern infrastructure, and a strategic location ideal for international business, making it a top choice for a comfortable and efficient lifestyle.
Up-and-Coming
It’s hard to beat these desirable choices for Digital Nomad Capitalists. However, there’s an ‘off-the-radar’ destination going all out to attract your attention.
Located 320 miles off the coast of North Africa, the Madeira Islands are rolling out the red carpet for the world's new wave of travelers. Though geographically closer to Morocco, Madeira remains a proud part of Portugal, boasting a distinctly European culture, economy, and political landscape. For six consecutive years, the World Travel Awards has crowned Madeira as the World’s Leading Island Destination.
Madeira has launched the first-ever Digital Nomad Village in the town of Ponta do Sol. This charming village is tailored to support remote workers, offering free working spaces, fiber optic high-speed WiFi, and an inviting subtropical climate.
Madeira is a haven for digital nomads and global entrepreneurs, offering substantial tax advantages and a high-quality yet affordable lifestyle. Companies operating under the IBC (International Business Centre) enjoy a reduced 5% corporate tax rate until 2027 and benefit from exemptions on withholding taxes for international operations.
Dubbed the "Island of Eternal Spring," Madeira’s mild climate, dramatic landscapes, and low crime rates ensure a peaceful and scenic environment, perfect for those seeking a blend of work and leisure.
Citizens of the World
Digital Nomad Capitalists turn their passions into businesses that generate multiple streams of income. What may have started out as a hobby, casual interest, or side gig turns out to be the ‘calling’ that launches their journey.
No longer are employees trading time for money. They’re not compensated based on attendance, but on results produced.
The nomad lifestyle is flex time at its best. Follow your own path on your own timeline. Make plans and change them whenever you want—including going back home if this isn’t for you. There’s no wrong way to do this.
Not all those who wander are lost.
~ J.R.R. Tolkien
An ever-increasing number of digital nomads and nomad capitalists are growing their skills and expanding their opportunities worldwide. From location independent gig work to full-blown business operations, there’s never been a better time to create the life you desire and the lifestyle you deserve.
If you were to dip your toe in the nomad lifestyle, how would you want it to feel? What preparations would need to be made for your expedition? Where would you go first?
