Do you find yourself looking overseas for a new place to call home?
Well, today we're going to explore 3 countries across the globe perfectly suited for artists, whether online content creators or digital nomads, hopefully we can help you make a decision on which country you’ll soon be calling home,
Although there are over 46.7 million online creators who describe the level at which they produce content as amateur, sponsored influencers are worth over US$8 billion as of recently, making the market extremely lucrative and only set to expand into the future. If you find yourself in either category, it is important to understand where in the world will facilitate your ambitions the best.
Andorra
Taking the United Kingdom as a benchmark, the cost of living in Andorra is comparatively relatively inexpensive, immediately presenting you with an affordable European option where the high quality of life is paired with a relatively cheap lifestyle, noted at 30% more affordable than major cities around the world.
In terms of taxation, there is no sales tax, people starting their own company only pay corporate income tax of 10%, and after the combined allowance of €40,000 untaxed income for married couples is exceeded, the maximum income tax is also 10%, presenting Andorra as a perfect place to experience a low cost of living in Europe while also saving more money.
In terms of personal benefits outside of the economic advantages already mentioned, Andorra is picturesque, providing you with a location in which you can feel relaxed, while also having an average internet speed of 285Mbps which is pretty impressive too.
Georgia
Another affordable yet beautiful country to consider is Georgia. It is said that for a family, the cost of living can be between €1000-€1300 per month, which, it has to be said, is very low when compared with other potential countries you could relocate to as a digital content creator. Not only this, but with the internet costing around €13 per month, it is affordable for the amenities you will need the most!
No tax in Georgia is more than 20%, leaving you with the peace of mind that your income is not going to halve and with corporate tax capped at 15%, your business will not be suffering either. If you are one of the many digital content creators who opt to work from their homes for convenience, there is no better place than Georgia as property tax is 1%, and there are also no capital gains or wealth taxes.
However, it must be noted that if you spend more than 183 days a year in the country, you pay 20% in income tax, which, although it is the highest tax in the country, is still comparatively low worldwide.
With the numbers out of the way, in terms of more general advantages to moving to Georgia, as a content creator you will enjoy access to landscapes beyond your imagination from rainforests to beaches and mountains, providing inspiration for new material, as well as food and wine.
Portugal
Despite being found in Western Europe and potentially being overlooked due to high costs of living in some nearby countries, Portugal is actually extremely affordable, with rent levels over 30% cheaper than the United Kingdom and fast internet connection at a price of around €32 per month. It has to be said that as a digital content creator, Portugal lends itself kindly as it is said two people can have a food and drink budget of around one third of the monthly salary in Portugal, this is equal to about £115 per person on groceries maximum.
In terms of tax, Portugal is higher than other countries on this list, taxing worldwide income from between 14.5%-48% and corporation tax is 21%. However, Portugal is on this list due to incentives for high net-worth individuals, as there are 10-year exemptions on income tax for most non-Portuguese income. There is also no inheritance or wealth tax, presenting further advantages to making the move.
For your own wellbeing, Portugal is one of the best countries in the world for quality of life, which when coupled with the weather, the food and the drink, presents a very attractive landscape in which you can undertake your work and also enjoy your downtime. For anyone who classes themselves as a digital content creator, the fast pace at which trends emerge and develop can be a stressful experience, so the balance of a relaxing environment such as the one to be found in Portugal is extremely attractive.
So, if you are interested in finding out more about how you can relocate abroad and maximise the benefits you'll receive as a digital content creator, as well as other opportunities to develop your business, contact us today! Below this article, you will find a link to set up a free fifteen-minute consultation with us to discuss your options further.
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