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>>$15 USD must be mana from heaven. It is definitely mana from heaven, but the barriers can be somewhat high depending on the contractor's locale: 1) they nee
by otoburb 8y ago
>>$15 USD must be mana from heaven.
It is definitely mana from heaven, but the barriers can be somewhat high depending on the contractor's locale:
1) they need to be able to successfully navigate their own country's tax and self-employment paperwork and regulations;
2) they need enough up-front capital to purchase powerful-enough equipment to do the job in the first place; and
3) they need telecom infrastructure that presumably supports high-speed internet (i.e. faster than dial-up).
- tfolbrecht 8y agoI'd hope they're capable of that. Lol, imagine as the farmers are in the fields, and merchants in the shops grinding away to make a few dollars a day. This remote dev is making a 10x multiple of their pay. Sweatshop? Ha.
- leroy_masochist 8y agoInternet cafes in developing countries are abundant, and you might be surprised how fast the connectivity often is. They cost a tiny fraction of $15/hour so I don't see how this is a capital-constrained job for anyone. The theoretically necessary self-employment paperwork is not going to be a meaningful barrier to action in most developing countries.
- rolandog 8y agoIf it were so simple and accessible why don't American citizens migrate to those countries to take advantage of the low cost of life?
- reidjs 8y agoThat is a super risky proposition. It is not so easy to just pack up shop and leave a country. You will have to leave behind most if not all your friends and family. Also, you need to have adequate savings to make that leap, which most people do not have.
- ttul 8y agoI know at least some programmers who have moved to Third World countries. In Indonesia, for example, you can live like a prince for about $1000 a month. Then work remote for US based companies. Your North American resume and cultural knowledge allows you to still charge a decent rate for your skills. But your cost-of-living is minuscule. It’s a decent option for many young people to consider.
- leroy_masochist 8y agoMany do
- ajcodez 8y agoThey do. All the time. Traders move to Puerto Rico and programmers move to Thailand. It’s even better because you get the first $100k tax free as employee, or approx 14% off if self employed.
- selimthegrim 8y agoDo the programmers not like arroz con gandules? Or is it just an established trend?
- ajcodez 8y agoPuerto Rico is attractive to US traders because if you live there for six months out of the year you pay zero capital gains tax. On the other hand programmers still have to pay income tax so are more likely to seek inexpensive tourist destinations.
- eloff 8y agoI did this in Panama. They use the US dollar, but cost of living is not that low. Food actually cost more, with the exception of locally produced things. It can work out well. I did it tax free too, but it is a lot more complex for US citizens. Although I think you only have taxes on income above $100,000 a year outside of the country, but I'm not an accountant, so take that with some salt.