Tag Archives: digitalnomads
DIgital Nomads

Contrary to what many might think, the term Digital Nomad isn’t an invention of the 21st century. The word, in fact, was first introduced in the homonym book “Digital Nomad” published by Wiley in 1997.

However, up until recently, people tended to connect this denomination with names of fancy Facebook groups where a small number of privileged and tech professionals were allowed. This is because until ten years ago, the typical graduate who entered the workplace would be shown their desk and be tied to it thereafter. If on the one hand, a few digital-first companies were already offering the possibility to work flexible hours and/or from home, on the other hand most employees could not even dream of working from a paradisiac location ten thousands miles away from the company’s office.

Nowadays, digital nomads are becoming a trend. In Global Mobility we speak of “Virtual Assignees” and “Digital Nomads” now as new assignment types. Millennials, are going to make up 75% of the global workforce by 2025, according to Inc.

In fact, in 2015, flexible remote work was already the top priority for Millennials and 85 percent expressed their preference for telecommuting 100 percent of the time (Flexjobs survey).

With this data at hand, it’s easy to see that we’re dealing here with a real new breed and not anymore a restricted circle of tech-savvy gurus. And at this point, it’s also easy to predict that the rise of this category of workers will obviously also have a strong impact on Global Mobility policies. 

The Six Points You Need to Make Sure to Check

Fatima is a young and determined woman who works as a freelancer. She has recently moved to Switzerland from where she continues to work, and she calls herself a Digital Nomad. If, like her, you too are a Digital Nomad and you’re about to or have just moved to Switzerland, this article might enlighten you on some fundamental technical issues that you need to be aware of in the Helvetic Confederation.

Despite this article being Swiss-specific, these points are worth considering wherever in the world you’re dreaming to live, either temporarily or permanently.  

This is an offer an overview of risks we see frequently. For deeper advice on your personal situation I recommend that you seek advice from specialists in the individual areas. I’m happy to introduce you to these specialists in Switzerland.

1 – Labor Law 

The labor law that applies to your case changes significantly whether you are classified as self-employed or employed. In Switzerland, being self-employed means that you work on your behalf, you are independent, and you assume the financial risk. You may decide on the type of company you build.

You will need your own infrastructure, you draw up invoices in your own name, you assume the risk of collection and you work out your taxes. Additionally, you decide on your organization and your method of working. You may outsource work to third parties and you work for more than one client. Based on this employed/self-employed differentiation, the aspects concerning your work permit vary as well.

It is as well possible that, due to different legislations across countries, the Swiss labor inspection authorities could qualify you as an employee of your current “employer” or “client”. This can happen even when in your country of origin your status is of self-employed or freelancer. If this should happen to you, you will need to provide various further documents to the competent authorities. 

Based on your host country you really need to familiarize yourself with the local employment law as well especially if you are planning to hire other people into your business.

2 – Immigration Law

If you share with Fatima the typical Digital Nomad spirit, you will probably travel often. Even during Corona-times, you will most likely travel more frequently than a traditionally employed person. For this reason, it’s important that you have the correct permits to enter the countries and actually work there. 

If you’re an EU / EFTA national not yet residing in Switzerland and working there over eight days per calendar year, you will need both a residence and work permit. If you only work here up to 90 days per calendar year your employer will have to register you via the online registration procedure. Usually, the permission will be given. However, you can then really only work here for 90 days in a calendar year. 

As a “third-country national”, you have to be aware that work visas are limited to quotas and they are therefore not so easy to obtain.  You are not allowed to work in Switzerland while on a tourist visa. You don’t want to get into trouble with the Swiss authorities.

The permits that allow you to work in Switzerland are L, B, C, and G. They have different purposes and durations. If you want to read more details about the characteristics of each permit, check our resources at the bottom. As an expat spouse you generally have the approval when you receive a B-permit. With the L-permit there is often a restriction.

Do you feel confused? Trust me, it’s normal. That’s why it’s always best to get advice from an Immigration Specialist. I suggest you contact Sonia Meier  of BecomeLocal

Special Digital Nomad Visas

You might be up-to-date already, but in case you didn’t know it, some forward-thinking countries have already introduced specific visas for Digital Nomads!

These visas are not for any Digital Nomads and every country has listed its own requirements and benefits, but it is worth it to check them out. Up to today, the countries that offer this opportunity are Barbados, Georgia, Estonia, Bermuda and Thailand, while Croatia is next in line. Check out our resources below if you want to find out more about the topic! 

With the Digital Nomad trend on the rise, Fatima wishes that Switzerland too will have this specific type of visa in the future, simplifying the bureaucratic burden she needs to go through.

3 – Personal Tax

Based on the Swiss federal tax law, you become a tax resident after living and working in Switzerland for a continuous period of 30 days, or after 90 days without earning any income. 

In Switzerland, you are responsible for paying your taxes. You are taxed only on the income generated in Switzerland and not on your worldwide income. This is regardless of whether you’re self-employed or not and it does not depend on whether you receive a one-time payment or a regular salary. 

It’s important that you learn to differentiate between your turnover and a potential salary that you are paying out to yourself. My most important advice is that you either find a good accountant like Joerg Blaettler of Winston Wolf or you learn accounting with a basic software such as Bexio.

4 – Corporate Tax

If you work for an international company without an office in Switzerland, be aware that your presence could create a “Permanent Establishment” for the company. This means that the company might have to pay corporate tax. If you decide that you want to keep  working from Switzerland, you should discuss this with them beforehand. 

If you own your own company and this is registered outside Switzerland, corporate tax issues could become even trickier, and you might incur in double taxation. Depending on the countries involved, treaties have their own specific clauses and you will have to look at your particular situation. 

5 – Social Security

For Digital Nomads like you and Fatima, it can become challenging to ensure at least basic insurance for retirement, disability or unemployment because social security is generally connected to the country of employment. 

The first thing you need to know is that Swiss social security is based on three pillars that I am going to briefly explain here. The first pillar is the basic insurance (old-age, survivors’, disability, and unemployment insurance): this is mandatory if you are a resident and earning an income in Switzerland.

If you are self-employed, you need to pay the full contribution through a self-declaration made to the authorities. If you don’t do this, the authorities will estimate and claim the contribution, and you incur a fine. 

Let’s focus on the pension scheme. When you reach the official retirement age, and if you’ve contributed for at least one year, you gain the right to claim the retirement annuity. Please keep in mind that the annuity is limited and calculated based on the years of contributions.

The second pillar is the employee’s pension scheme. This is mandatory and it covers the same risks as the first pillar, but it’s provided by the employer instead of the State. 

The third pillar is additional, private savings that you’re free to undertake or not, depending on your preferences.

And if you have a foreign employer? 

If you have a foreign employer who has the rights to apply for a certificate of coverage, they might be exempted from Swiss social security. If not, the foreign employer might have the obligation to register in Switzerland and seek for a first and second pillar solution for you while you’re based in Switzerland. 

6 – Health and Accident Insurance

As a Swiss resident, Fatima needs to have mandatory health insurance in Switzerland. She’s entering her third month in the country and her time to stipulate one is almost over. You have, in fact, up to 90 days to sign your health insurance contract from the moment you set foot in the country.

All health insurers in Switzerland provide the same benefits under basic insurance. However, if you want to be covered for other needs such as better hospital accommodation, legal assistance and so on, you need to add a voluntary supplemental insurance. 

In Switzerland, each person must pay health insurance premiums. The premiums are independent of the individual’s income but vary depending on age, residence and health insurer, so you are free to choose the health insurance company with which you wish to take out basic insurance.

If you move to Switzerland but still work in an EU/EFTA country, you must be insured in the country where your employer is based. This also applies if you are self-employed. In this case, it is not possible for you to purchase health insurance in Switzerland. If you feel lost and need guidance in making the right choice for yourself, we personally advise that you contact Ralph Endres of ExpatPartners or Domenico Bilotta at Helsana

As you figured out already, there’s a lot on the list of items that you need to take into account when deciding to work as a Digital Nomad for Switzerland. Having a clear vision of how everything works isn’t easy, especially if you need to understand bureaucracy in a language that you don’t speak well. This is why we always recommend that you reach out to a trusted expert in the field. If Fatima worked it out, you can certainly do it too! And remember it will be worth it, Switzerland ranks number 1 in the world for quality of life! 

Kind regards 

Angie Weinberger

Definitions

Digital Nomad

Online dictionaries such as Investopedia.com or Urbandictionary.com define Digital Nomads as individuals who are independent from their location by performing their work using “new” technologies, i.e. deriving their income by working remotely. A Digital Nomad is not required to commute to the employers’ office / headquarters to be physically present, as telecommuting is their preferred way of working. The typical digital nomad can be found in a myriad of locations, including using public co-working spaces, a home office or travelling around the globe.

Permanent Establishment (PE)

According to the OECD, it is a fixed place of business through which the business of an enterprise is wholly or partly carried on. The term includes a place of management: a branch, an office, a factory, a workshop, a mine, an oil or gas well, a quarry or any other place of extraction of natural resources. A building site or construction site could also be a Permanent Establishment. However, tax authorities are adapting beyond this traditional definition. Overseas contractors, International Business Travelers (IBT), warehouse space, digital activities and so on could also create a PE.

Resources 

Giving back
Working from this hotel in Dubai? A dream coming true for us digital nomads.

If you need to make a self-employment declaration and you don’t know where to start from,  you can check these resources out: 

Social Security in Switzerland

https://www.ahv-iv.ch/p/2.02.d

https://www.svazurich.ch/pdf/Checkliste_se.pdf

https://www.svazurich.ch/internet/de/home/private/arbeitssituation/selbstaendig.html

How to Develop Your Business

Here is a lot of general business advice from us. We can discuss this further. Please email Angie for a first consultation.

https://globalpeopletransitions.com/GlobalMobility/growme/

https://globalpeopletransitions.com/GlobalMobility/solopreneur/

https://globalpeopletransitions.com/GlobalMobility/global-entrepreneurs

World-Class Copywriting Courses

Ash Ambirge – The Middle Finger Project

Best Course on Building Digital Courses

Amy Porterfield

Best Podcast on Building a Global Expat Lifestyle

Sundae Schneider Bean

Dominic’s Advice for Swiss Compliance for Digital Nomads

https://feibv.nl/wp-content/uploads/2019/04/Dominic-Suter-MasterCourse-Human-Resources-and-Global-Mobility-Master-Paper-FINAL.pdf 

Details about the characteristics of the various Swiss work permits: https://www.swissinfo.ch/eng/work-permits/29191706 

More about Digital Nomads and immigration into Switzerland: https://newlandchase.com/digital-nomads-is-immigration-law-keeping-up-to-the-hype/ 

The guidelines published by the Small and Medium Enterprises (SME)

 

Other Countries

More information on the application procedure, supporting documents and the requirements to obtain a Digital Nomad visa in the countries that offer this: 

Barbados: 

https://www.fragomen.com/insights/alerts/12-month-remote-work-visa-introduced

Georgia: 

The application process is not yet up and running yet but the government is updating their website

Estonia:

https://e-resident.gov.ee/nomadvisa/ 

Thailand:

The SMART visa program is not only but also for Digital Nomads.

Bermuda:

Apply for their Work from Bermuda visa visit https://forms.gov.bm/work-from-bermuda/Apply

 

Hotel Des Finances

As we already mentioned in previous posts “Digital Nomads” are the new black in Global Mobility.  A survey from MBO partners revealed that, only in the US, 4.8 citizens identify as Digital Nomads, while in the UK, the Trades Union Congress calculated that remote workers grew by almost 250,000 between 2005 and 2015. While in one of their Facebook Groups like FEMALE DIGITAL NOMADS I sometimes come across horror stories of visa issues, assaults and taxation issues

The idea of working from a beach in Croatia, a hut in Estonia or below palms in the Bermudas seems an attractive vision for Millenials. However, even trying to log-in to my G-Hangout from South Tyrole or sometimes even Germany can bring down that fantasy castle (in which I also look 20 years younger, have 20 kilos less and my nails are always immaculately painted red).

Despite being almost 50, I aspire to become a Digital Nomad as well so I thought I should dig deeper into what that actually means. We therefore present a series on the topic. 

  • Part 1 deals with the mindset you need to run a “Company of One”,
  • Part 2 explains the technical Global Mobility aspects of being a “Digital Nomad”,
  • Part 3 focuses on one method to become more productive which is the Kanban-style.

Paul Jarvis is one of my favourite creators. I read his “Sunday Dispatches”. I love his online course Chimpessentials, which taught me almost everything you are seeing on the Global People Club Sandwich and which also encouraged me to continue writing to you on a weekly basis by email in the age of social media.

I ordered several of his artistic books already. The latest book “Company of One” was a special delight. Okay, I might be crushing a bit on Paul J. He has an amazing voice too.  However, you really should read the book and follow him. Paul is one of the creators who runs a business from an island in Canada and is very successful with it.

I finally got confirmation that all I had done over the last 10 years as an entrepreneur was not completely wrong. No, instead of founding a “scalable startup” I had founded a “company of one”. And I believe that scaling is possible in my business. However, if I want to continue to stay aligned with my mission of bringing the human touch back into Global Mobility, I cannot scale, automate and robotize everything.

“Au contraire…” (you need to say this with a glass of Rosé in your hand), I really believe that Paul Jarvis hit the nail right in. There are companies who can and should stay small because otherwise they might lose their special “umpf”. And you know what I noticed? This is not a question of what kind of business you have right now. It’s more about where you are heading. If you are dreaming about leading a digital nomad life where you can live in the Italian countryside near a vineyard, spend the summer on Long Island, the winter in Kashmir and a lot more time in between with your elderly family members…then my friend you need to start to take action now.

When I decided to go fully digital in 2018 I knew that I would need to take a few side turns and that this will not happen from one day to another. What I hadn’t anticipated though was that I actually am quite old-school and that I prefer human interaction over online interaction. 

I also noticed that the more I work online (and COVID-19 has brought this to an extreme – online and at home 100% of my work time – ), the more I feel a need to write stuff on post-it notes and use paper to organize myself. For example, I used a Kindle a few years ago. This year during my vacation I had it with me but I preferred to read paper-books. I journal in a diary and I only use my laptops for calls and managing my business. When I now have to present I even print the presentation before because I don’t seem to see enough detail on my laptop.

However, the main idea to have a digital business that I could run from anywhere has been magnified by the corona crisis. Still, the main reason that keeps me in one city right now is my professional network and that a basic income needs to be made every month.

I think Paul is right. Obviously, it depends on your business model and if you are a creator, an artist or a programmer.  I love the creative part of my business but over the last few years I also always had to have enough “billable” time to make a living in one of the most expensive cities in the world. 

My friends in corporate are all wealthier now than I am and I have doubted myself a lot and I’m still not sure how I will manage to survive during my retirement. You might think now that I’m exaggerating and maybe you think that it can’t be that difficult with all my contacts and all the income streams that I have created. You might be right. 

However, I live in a very security-oriented environment and I also come from a family which was poor after the second world war so I have to practice to shake off this insecurity-poverty-story.

For me, the best way to get out of that spiral is through continuous education and ongoing learning. I notice that I am growing when I am implementing new technology or improving programs or just see faster progress with my clients because I could show them a hack. I buy into organic growth because it allows me to maintain my quality standards. In the corporate world I often see a lot of back and forth and low quality products. This is not what I want to create with my team.

How much income is enough?

As I’ve been following Paul’s work for a while I have been asking myself the “enough” question a lot. You probably heard me say this before but my relationship with money completely changed when I became an entrepreneur. I would say that I need only 60% of the monthly income that I needed when I was employed. The main reason, aside from lowering my base costs, is that I feel a lot more satisfied with my life since I started my business. 

Helping you directly through writing, coaching and training makes me happy.

Paul Jarvis asks three questions:

  • How much is enough?
  • How will I know when I got there?
  • What will change if I do?

He explains how he maintains a minimalist lifestyle and how this helps him to save and reinvest while also allowing him to take extended offline periods over the summer and winter. I’m working on getting better at taking these longer breaks as well.

I translated this into ongoing questions on what I would like to achieve financially in my business and when we are there it will help to have a buffer as well. My minimum income is 60k CHF gross. This allows me to survive, not necessarily thrive and the minimum turnover for that is around 140k CHF. You might need to calculate this for yourself but interestingly enough the minimum salary is exactly what has been determined as a substance for people living in Switzerland. 

I usually say that you should have 100k CHF in the bank before starting a business full-time. At the time I started mine, I needed this buffer to get through the first few years. Later on, I would find regular income mainly through consulting projects, interim mandates and classroom lectures or workshops. 

Now, these are usually onsite so they won’t fit a long-term digital nomad strategy. So for me the last question is easily answered: Once I have enough income to stop working onsite in consulting projects and I have a buffer for hard times I will be able to move around more in the world.

How can you digitize even further?

I think it is important that you go through your idea or your current offering and check if you can offer the same service remotely or not. For example if you are a consultant or coach, you might find it easy to digitize your sessions with clients by offering an online course or coaching via ZOOM.

However, if you lecture or run brainstorming sessions it might take more effort to change these sessions to online sessions. Or if you sell actual products, you might need a warehouse or similar production facilities. If you identify those you can start to think about replacing those income sources with digital income streams. You should consider active and passive income. 

Most of you will probably have either no business yet, or a business that could be a “Company of One”. In order for you to become a “Digital Nomad” you need to solve a lot more issues than if you just stayed in your home country. Assuming that you are an expat or expat spouse in Switzerland we will show you next week five technical aspects that you will need to consider if you want to become a digital nomad and run a location-independent business.

For now, I would start with the question of determining whether you want to have a home base and where that should be. I think that you probably also need a “home base”, a place you can call “home” and return to. This will also be relevant for taxation purposes. Your business needs a home as well.

Then I want you to start thinking like a CEO. If you are thinking about starting a company of one, I would suggest that we have a coaching conversation. Let’s have a 15-minute chat to see where you are at right now.

Resources 

https://www.swissinfo.ch/eng/high-salaries-aren-t-what-they-seem-in-switzerland/45810010#.XzoYb0AgLTc.whatsapp

https://ofone.co/

https://www.audible.de/pd/Company-of-One-Hoerbuch/B07KFLTK58?gclid=EAIaIQobChMIxd7U_aWW6wIVyAJ7Ch3tsAcnEAAYASAAEgKb5PD_BwE&source_code=GAWOR12604212090BN&ipRedirectOverride=true&ef_id=XP4aQwAAAEgLUl39:20200812182957:s

https://www.investopedia.com/terms/d/digital-nomad.asp

https://tandemnomads.com/podcast/tn75-how-to-legally-set-up-portable-business/

https://www.tuc.org.uk/news/home-working-fifth-over-last-decade-tuc-analysis-reveals

References

Jarvis, P. (2019): Company of One.

 

Why buy us?

“Global Mobility” is currently undergoing a global transformation. New technologies, the constant evolution of companies, generational diversity and political situations have evolved the roles and lives of mobile professionals faster than existing policies can keep up, calling for a clear focus on the processes to be updated to cater better for the people driving Global Mobility.

Are you as a Global Mobility Professional feeling overwhelmed by the speed and scope of this ‘boom’? Perhaps you need to introduce yourself to the field and get a better, broader overview of Global Mobility. 

Maybe you are in HR or a line manager and want to ensure that you are becoming an employer of choice for younger generations demanding “Global Mobility” as a prerequisite for working with you. 

Or, you are just on the brink of deciding for or against an international assignment as an expat or expat family and want to understand the language we use better.

How we will help you

Working with “The Global Mobility Workbook” and Angie Weinberger will enable you to:

  • run your Global Mobility in a more strategic way by deeper understanding trends and drivers of Global Mobility
  • develop and sort out your legal framework, policies, guidelines, exception management,
  • give you models for improving how you explain what we do to the outside world,
  • support expats and their spouses and enhance their “Expat Experience” through training, coaching and deeper understanding of the psychological effects of cultural adjustment,
  • develop your professional profile and “Global Competency”.

In order to make the expat experience worthwhile for their careers and support for their families even better, it takes people who want more than ticking off a checklist.

It takes dedicated professionals and it needs personal communication with the entire expat family. We want to bring the human touch back into our process-driven work.

That is just the tip of what Global Mobility truly is, and the Global Mobility Workbook provides not only a baseline starting point to understanding the field but is a hands-on manual for people in HR, line managers, expats and their spouses.

What you can expect from us

  • Establishing the Global Mobility Brand. Strategic classification of international assignments for the “business case”, integration of the assignment in succession planning and more. 
  • Optimizing the Global Mobility Process. Optimizing the operational handling of Global Mobility in all corporate processes from recruiting, via talent development to localisation. We explain basic principles without the technical details that overwhelm beginners in the field.
  • Defining the Global Mobility Clients. Focusing on the experience of expatriates and their spouses, as well as on the process of monitoring those who are affected, including their safety and health. We also give an overview of emergency situations.
  • Building the Global Mobility Team. Presenting Global Competency as a key component in the career development of Global Mobility Professionals. It’s a mix of knowledge, attitude, skills, reflected experience and body learning. We also coach you along the way and develop an online learning plan together.

It’s a workbook so it engages you with:

    • Goal Setting: In the beginning of our journey together you set goals for yourself.
    • Homework: Most chapters come with a suggestion of a homework.
    • 12 Case Studies: In addition we provide downloadable cases studies from daily business scenarios. These present you with various international mobility challenges to engage with and analyze. 
    • 7 Templates: We share templates upon request.
    • 5 Tools: We send you examples how you can run your operations and projects
    • 3 Checklists: Global Recruitment, Relocation, Social security considerations
    • 12 months RockMeApp: Free access to the RockMeApp, our career planner and online coaching platform (value 250 CHF/USD).

Sign up here for updates on this publication. 

About the Author

Angie Weinberger is the Global Mobility Coach. She combines executive coaching, her long-standing Global Mobility expertise and workshop facilitation skills into programs for Global Mobility Professionals, Expats and Expat Spouses. She’s a recognized guest lecturer in “Global Mobility” and “Intercultural Management” and has worked in HR with an international focus for over 20 years.

Previously she wrote “The Global Career Workbook” (2016). She also wrote a German textbook on managing international assignment into and out of Germany published in 2009, 2010 and 2011. This publication triggered her interest in writing again.

Angie’s current projects include building the Global Mobility Function for a private bank, the development of a web application for online coaching called RockMeApp and RockMeRetreat

Angie also defines herself as an author, social media junkie and Bollywood lover. She has lived and worked in Germany, Switzerland, the UK, India and Australia.

When Angie is not working she enjoys hiking in the Swiss countryside, watches movies and overindulges on the cooking of her Pakistani partner.

Airport

by Brooke Faulkner

Retraining into a different career or opening a small business isn’t easy under the best of circumstances. When you’ve decided to start over completely in a new country, the circumstances are rarely ideal. The pressure is on for so many reasons — moving is expensive, and you may only have one chance to make it. There may not be family and friends close by to pick you up if you fall. You’re likely being inundated with new experiences and culture shock, and maybe learning new skills is the last thing on your mind.

If you’re looking to take a new step in your career, however, or at starting a business in a new place, spending extra time on acquiring a business degree could be well worth it. Let’s go over the pros and cons.

As so many other people have proven, it’s very possible to thrive in a new country, and all that pressure might just be the motivation you need to start on a path that truly makes you happy.

The big questions are:

Should You Retrain With a Degree?

The short answer to this question is: it depends. In countries like America, where student debt is skyrocketing, it can be a difficult question and dependent on the resources available. In other countries like Germany, where tuition fees are subsidized, it’s a much easier proposition.

It’s impossible to say “yes, absolutely” or “no, definitely not,” because the world is full of different types of success. Some college dropouts go on to become extremely successful, while many jobs with high salaries won’t consider candidates without relevant degrees. Especially in the business world, roles and job titles are becoming more specialized, and companies hiring for management, finance, and other demanding roles like to see a strong background like a business degree.

As someone new to the country, you won’t have a local job history, and so a degree can provide the proof that you’re knowledgeable and skilled enough for the job.

Does the Type of Degree and Location Matter?

In a word, yes. One of the big questions to ask is where to get a degree to support a career transition. If you’re moving to somewhere where education is cheaper, you may want to wait. If you’re moving to somewhere that education is more expensive, it might be better to plan ahead and work on evening classes or online courses before you move.

Another angle to consider is how the country you’re moving to views the schools in the country you’re moving from. Some degrees are transferable from country to country, but many are not. If that’s the case, you might be wasting your time investing in higher education before you move, only to find out it’s not usable! Different countries will have different professional standards, and different demands in the job market. It may very well be that the country you’re moving from has more prestigious institutions. If the country you’re moving to doesn’t offer courses in a language you’re familiar with, that’s another reason to seek higher education before you move.

Online courses are a potential solution to this problem. You may be able to start studying abroad before you move. Or it might be in your best interests just to wait and plan on deciding what kind of new skills and education you need after you move.

Financing Options

Financial aid differs from country to country. The availability and amount of financial aid, and whether you qualify, should have a large impact on your decision. The amount of financial aid from government programs might be better in your home country, or the country you’re moving to might have specific grants and loans for immigrants or international students. Going to a country on a student visa first can often be a stepping stone toward future residence. Germany, for example, has abolished all tuition fees — even for international students.

Starting a Business in Another Country?

Some countries, such as Canada give preference to immigrants who are looking to start a business. Merit-based visa applications can be helped along greatly if you can prove that you’re going to create jobs. Do you need a business degree for that? Not necessarily! Canada, for example, just requires that you acquire support from designated Canadian investors. But you might need a degree to convince investors in your capabilities.

Bill Gates famously dropped out of school. He went on to build one of the biggest companies in the world. Steve Jobs dropped out too. In fact, there are plenty of stories of dropouts who made it big. As inspiring as it is, though, don’t let the hype cloud your judgement. For every famous dropout, there are so many more dropouts who don’t make it. Since we see the famous ones talked about a lot, it’s easy to buy into the dropout myth — that higher education is not necessary.

While it’s absolutely possible to succeed as a business owner without a business degree, getting the right degree can help reduce the risk of failure immensely — and in the business world, the risk of failure is very high. According to Investopedia: “The SBA states that only 30% of new businesses fail during the first two years of being open, 50% during the first five years and 66% during the first 10. The SBA goes on to state that only 25% make it to 15 years or more.”

Getting the right education gives you the knowledge to start up successfully and future-proof your business against mistakes made early on, that become disastrous later. You’ll learn a lot of the details about running a small business that you might otherwise not know or learn without training and mentorship. You’ll learn lessons the easy way, in a safe environment, instead of learning them during business failure.

So, is a business degree worth it? Honestly, that’s up to you. Like everything in life, a degree’s worth is in how it’s used. The wrong degree could be a waste or a hindrance, but the right one could set you up for success in a way nothing else can.

In many cases what you’ll want is good information. That could come in the form of a career or academic advisor based in the country you’re interested in moving to.

Need further guidance?

Check out Angie Weinberger’s Global Career Workbook or sign up to our website as a Reader of the Global People Club Sandwich.

Degrees in Global Mobility:

Please mention AngieWeinberger as a reference and contact her if you want any advice on the Master Course. Angie has gone through it herself too and is a lecturer in the course.

You can find her Master Thesis here.


Brooke Faulkner

Brooke Faulkner is a writer in the Pacific Northwest who has conducted business all over the world. You can find more of her writing on Twitter via @faulknercreek

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