How to Start a Digital Nomad Business with No Money

Have you ever dreamt of sipping coffee on a sun-kissed beach in Bali while your laptop churns out profit? Or perhaps wandering the charming streets of Lisbon, working from a cosy café as the world passes by? 

The allure of the digital nomad lifestyle is irresistible—but what if I told you that starting this journey doesn’t require a fat bank account or a trust fund?

That’s right! You can kickstart your adventure into remote work even when your wallet feels emptier than ever. 

However, most aspiring digital nomads let the fear of dealing with complicated legal procedures hold them back from starting their journey.

But with doola’s Formation Services, you can ensure that your business is compliant with all legal requirements from the start.

In this blog, we’ll unveil practical tips and creative strategies to help you build your digital nomad business from scratch—without spending a dime.

Let’s turn those dreams into reality because freedom isn’t just for fortune-favouring folks; it’s for anyone bold enough to chase it!

How to Start A Digital Nomad Business with No Money

In recent years, the term “digital nomad” has gained popularity as people can work remotely from anywhere in the world.

If you love to travel and want to break free from the traditional 9-5 job, becoming a digital nomad may be the perfect solution for you.

But what exactly is a digital nomad? A digital nomad is someone who uses technology such as laptops, smartphones, and internet connections to earn a living while travelling and exploring different parts of the world. 

They typically do not have a fixed home base and instead move from one location to another, often working in co-working spaces or cafes.

The freedom that comes with being a digital nomad also provides numerous benefits that make this lifestyle appealing. 

Many people choose to become digital nomads because they can choose where and when they work and because they have the opportunity to travel frequently. This lifestyle allows for a better work-life balance and the chance to immerse oneself in different cultures.

Becoming a digital nomad requires passion, determination, and adaptability.

With no initial investment required besides your skills and an internet connection, it is an accessible option for those wanting a location-independent lifestyle without financial constraints. 

Step 1: Choose A Destination

There’s no point in being a digital nomad if you can’t enjoy where you live.

Since you will be working while traveling, choose a destination that can facilitate the lifestyle that you’re seeking to maximize your digital nomad experience.

When choosing a location, remember to research the cost of living, including rent, utilities, groceries, and more.

Once you have decided, check the visa requirements and other legal obligations to ensure you can live and work there sustainably. 

Now that you know where you’re going and how much it will cost to live there, you’ll need to set a budget based on your lifestyle.

You should also build a safety net if you’re making a career change to become a digital nomad. 

Step 2: Create A Plan

Starting a digital nomad business from scratch requires a more thorough plan and preparation.

You’ll need to know what services you can offer in a new place to earn a sustainable living. Build a portfolio of your skills to display your services to potential clients.

You don’t have to wait till landing to search for opportunities, as you can start networking online to build business relationships that can benefit you and sustain your digital nomad lifestyle.

You can also join a digital nomad community on Facebook or Reddit. This will help you gain cultural insight, understand working conditions in a new environment, network with potential clients, or just make new friends!

From Thailand to Spain, Costa Rica to Taiwan, you can easily find digital nomad communities everywhere in the world.

Step 3: Apply for Visa

Once you have a business plan, selected country, and budget, you can apply for the visa. Since it is illegal to work and earn an income on tourist visas in some countries, we recommend obtaining digital nomad visas. 

When applying, ensure that your passport is valid for an extended period. Most countries require at least 6 months of validity after entry.

However, you should ensure that your passport is valid for a much longer period if you’re considering travelling and living abroad.

Some countries will require you to have a valid traveller and health insurance before you can work in their country.

Since you don‘t have the benefit of an employer‘s insurance coverage, you can obtain necessary insurance on Coverdash to protect yourself and your business.

Step 4: Get into a Digital Nomad Mindset

Once you’ve cleared the basics, it’s time to prepare for the digital nomad lifestyle and take steps to maximize your life abroad!

To simplify your life, be sure to pack light, and remember to ensure that you have useful apps that can assist in keeping track of finances, work, and more.

Remember that being resourceful and creative with your approach can lead to success without having to spend a lot of money.

Find Zero-Investment Digital Nomad Business Opportunities

While traditional businesses may require significant upfront investments for things like inventory, products, or office space, there are plenty of opportunities in the digital world that can be pursued with little to no initial cost.

When it comes to starting a business with no money, you must think outside the box. Look for no-cost digital nomad business ideas that align with your skills.

For example, if you are good at writing or graphic design, offer freelance services online on platforms like Fiverr or Upwork. 

As a freelancer, you can offer your skills and services to clients globally without ever having to set foot in an office.

The best part? It doesn’t cost anything to join these platforms and start building connections with potential clients.

1. Copywriting Business

If you have a knack for writing in any guise, you can be a copywriter.

You can provide your services online on sites like Fiverr, Upwork and People Per Hour. Many businesses need quality content for their websites or marketing materials, making it a highly sought-after skill in today’s market.

You can write copy for ads, daily content for sites, long-form SEO-optimized blogs, brand guidelines and social media posts.

As long as you have excellent writing skills, a laptop and an internet connection, you can start offering copywriting services online. 

2. Translation Business

Translation is another valuable skill that requires minimal investment but has a high potential for remote work opportunities.

With businesses expanding globally, translation services are in high demand. Whether translating documents, websites, or social media content, fluency in English or your native language can put you in high demand in foreign countries.

You can kick off and run your translation business from anywhere without any initial investments.

Just start with translation gigs on job boards and keep on brushing up your language skills!

3. Web Design

Web design and graphic design are also profitable industries that offer endless possibilities for remote work.

With resources like Canva and GoDaddy Website Builder readily available online and plenty of free tutorials on YouTube, learning these skills has never been easier. 

If you’re planning to become a full-time digital nomad business owner, graphic design would be ideal. You can do your work on the road since you only need an iPad, which takes up little space in your bag/case.

And with more businesses turning to e-commerce and online presence due to the pandemic, having expertise in web and graphic design can open up numerous opportunities for remote work.

In next to no time, you’ll be easily making dream-level income anywhere in the world.

4. English Teaching

English teaching is another popular choice for aspiring digital nomads with no money to invest.

It is a bit more hands-on opportunity, but if you are fluent in English, French or your native language, you can travel to any country and start tutoring private students. 

Most families prefer to have their child tutored by native English speakers and pay a hefty amount for it.

You can also try platforms like VIPKid and iTalki, which offer flexible teaching hours and high hourly rates. 

If you want more freedom and wouldn’t want to stay at one location, you can give your classes online via Zoom. This provides an excellent opportunity for those looking to teach English to pretty much anywhere around the world.

5. Blogging and Freelance Writing

Blogging has become an increasingly popular way for individuals to earn income while traveling as a digital nomad.

With a website, a niche, and some basic online marketing skills, you can start creating content and monetize your blog through affiliate marketing or sponsored posts.

The best thing about getting into blogging is that you literally need zero money to start.

You can buy a cheap domain, create a simple website, and start writing about anything you want. When you start to generate traffic, you can monetise. 

You can place ads on your site from Google, which does it automatically for you.

Or you can try affiliate marketing to boost your earnings. This involves promoting products or services on your blog and receiving a commission for every successful sale made through your unique affiliate link.

Overcome the Obstacles of No Money

Starting a business without any money may seem like an impossible feat, but it is not entirely impossible.

In fact, many successful digital nomads have started their businesses with little to no money and have gone on to build successful careers while travelling the world. 

Instead of dwelling on what you don’t have, focus on what you do have — your skills, talents, and passion for starting your own business. By adopting a positive mindset and believing in yourself, you can turn any challenge into an opportunity.

Rather than trying to raise capital from outside investors or taking out loans, which may be difficult without collateral or credit history as a digital nomad starting, bootstrap by using personal savings or asking friends/family members for small loans instead.

To get your digital nomad business off the ground, make some sacrifices and cut back on unnecessary expenses. This could mean downsizing your living arrangements, cooking at home instead of eating out or eliminating non-essential expenditures like entertainment.

Keep The Expenses to a Bare Minimum

Like with any business, there are costs associated with being a digital nomad working remotely.

These can include purchasing a laptop or camera for work purposes, obtaining necessary visas or travel documents, and setting up a website or online presence for your business. 

These costs can range from moderate to significant, depending on your needs and priorities. To minimize these one-time expenses, consider investing in used equipment instead of brand-new ones. 

Websites like eBay or Craigslist often have good deals on laptops or cameras that are still in good condition.

You can also utilize online tools and resources, such as Godaddy Website Builder, for website designing and development instead of hiring a professional designer.

You can easily find free online tools, software, and platforms by performing a Google search.

For example, if you want to design a banner or social media post to promote your business, you can go to free graphic designing tools like Canva.

Be Frugal with Your Money

You need to be sure that every dollar you spend will bring value and help grow your business. It means being strategic and mindful with your spending to ensure the sustainability and success of your business in the long run.

However, some recurring costs need to be paid on an ongoing basis, usually monthly or annually. These include accommodation, transportation, internet access, and other living expenses while travelling. 

One way to minimize recurring costs is to choose budget-friendly or low-tax destinations for your travels.

Look into countries with a lower cost of living, favourable exchange rates, and digital nomad taxes so you can save money while still enjoying unique experiences and cultures. 

You can also stay in hostels instead of hotels when traveling and eat at local markets instead of expensive restaurants. Plus, buy camping gear or a caravan, which is a one-time cost, and live rent-free anywhere you decide to go. 

Instead of moving to a new city or country every month, consider staying in one place for a minimum of six months. This can allow you to negotiate better rental rates and take advantage of double-taxation treaties, leading to potential cost savings.

How Can doola Help You Start a Digital Nomad Business with No Money?

Starting your own business as a digital nomad may seem like a deep plunge into the ocean, especially if you have limited funds.

However, with doola, it is possible to set your business up for success without breaking the bank. 

Get started with our Formation services, in which our team of experts assesses your business goals and recommends the most suitable legal structure.

Whether it be a sole proprietorship, partnership, LLC, or corporation, we will help you choose what works best for you.

We will also handle all the paperwork for you, saving you time and money and giving you peace of mind knowing that everything is legally in order. This will keep your business compliant with local and international laws so that you won’t run into any legal issues.

We also provide tax filing assistance if you lack the resources to handle it yourself. We help you obtain necessary licenses and permits while keeping your books ready for tax season to ensure there are no delays or setbacks.

Book a free consultation with us and embark on your entrepreneurial journey today.