Travelling and investing abroad: 4 easy ways for Nepali citizens
Before you begin the adventure of traveling the world, you will have taken time to prepare yourself. A part of the preparations involves saving money. But, have you thought of how you will earn more money when you travel out of Nepal as a Nepali citizen?
Finding a way to earn extra cash will ensure that you have fewer budget-related issues. This way, you can do everything you want to do and even extend your trip for longer than you originally planned.
Having money to spend while traveling for long periods may not be easy. But for some, this is a reality. They are able to do this even without a huge bank balance. From getting a location-independent job to picking up casual work, there are many options out there for Nepali citizens traveling abroad.
You just have to figure out what works for you while traveling.
Let’s find out how easy it is for Nepali citizens to travel and work abroad.
1. Investment in citizenship
Investment in citizenship makes it easy for Nepali citizens to obtain a second citizenship certificate. Some people think that investing in dual citizenship is not a good idea because it will put a strain on their wealth. But, there are reasons why this is important for people traveling as Nepali citizens.
Making economic contributions to a foreign country such as the US and Saint Kitts and Nevis enables you to gain citizenship by investment. Acquiring Saint Kitts and Nevis citizenship by investment makes it easy for non-citizens such as Nepali citizens. Saint Kitts and Nevis is an attractive location where you would love to own a second home.
Apart from contributing to the development of your host nation, you would need to be an adult of 21 years. Nepali citizens are also required to invest capital that has been legally acquired if they are to invest in the US. Ensure that you have proof of the source of your funds.
2. Investment in property
Property investment is something to consider as Nepali citizens who love to travel. But, you need to have the means and inclination. Invest in a foreign property without the same tax penalties associated with investing in foreign stocks.
Based on what country you are living in, the returns can be profitable when you finally sell the property. Ensure you work with a reputable real estate agent and a lawyer to ensure your investment is safe.
If Nepali citizens plan to return to Nepal in a few years, they can purchase a Nepal-based property to rent out while abroad. Ensure you have a reliable property manager in Nepal to handle the rental while you are away. Real estate is a long-term investment that anyone who wants to invest abroad should think about.
Before investing in a property in the US, you need to understand the taxes and fees involved in the purchase. Know that some of the one-off costs involved with purchasing a property are taken care of by you, the buyer. The rest is the responsibility of the seller.
3. Investment in gold funds
There are two reasons why gold comes to mind for travelers intending to invest overseas, and it includes Nepali citizens too. First, investors can trade it from anywhere. Second, gold is an asset that is trusted to gradually gain value with time. These are convincing reasons make Nepali citizens want to invest overseas.
You might also want to invest in gold ETFs rather than pure gold. ETF trades a lot of different investments as a sort of package deal. ETF focuses on gold, but on different assets like gold futures and leveraged gold prices.
The best gold ETFs take some of the hassles out of gold trading. This causes investors to land a greater return over time. The following are the requirements for Nepali travelers intending to invest in gold funds:
- Buy shares in gold-related firms like mining companies
- Invest in gold using exchange-traded funds or exchange-traded commodities.
4. Online freelancing
Freelancing platforms like Upwork and Fiverr make it easy to get jobs. You only need demonstrable skills in a sought-after area. The only limitation for beginners is that winning projects is not easy. That is because you need a proven track record of what you say you can do.
Once you have positive feedback on your profile, you can be guaranteed work. Web design and content writing are examples of lucrative fields in freelancing.
If you consider travelling full-time, how about work exchange, also known as work travel? This is where you get to exchange your time and abilities for accommodation. You can also find a host looking for some help in hostels, restaurants, or small businesses. You can lend them a hand for some time and get accommodation or other benefits in exchange.
Several countries have been making it easy for investors to get dual citizenship. It is important, however, to note that different countries have different requirements.
They also have different laws when it comes to opportunities for travelers to work and invest. A Nepali would have to do the research and find out what is expected of them in their new country.