Work without Borders: Top places for Location Independent Entrepreneurs
Co-authors: Sandeep Jain, Tiffany Ong
In the age of technology and connectivity, a revolution has emerged that is transforming the way we work and do business. The rise of location-independent entrepreneurship has shattered the traditional notions of work, allowing individuals to build successful ventures from anywhere in the world. This newfound freedom has led to a surge in digital nomads and remote entrepreneurs who are taking advantage of factors such as robust digital infrastructure, favorable cost of living, thriving entrepreneurial ecosystems, exceptional quality of life, and accommodating visa considerations to set up shop in prime locations. Among the top spots that have embraced this movement are Valletta, Lisbon, Barcelona, Bali, and Phuket, where initiatives have been taken to attract and support location-independent entrepreneurs.
Valletta: The capital of Malta, Valletta, has swiftly emerged as a hotspot for digital nomads and location-independent entrepreneurs. The city’s strategic location in the heart of the Mediterranean, coupled with its excellent digital infrastructure and favorable tax regime, has been enticing to entrepreneurs from around the globe. The government of Malta has actively promoted remote work by introducing the Malta Digital Nomad Residence (MDNR) permit, allowing entrepreneurs and freelancers to work from the island for up to one year. Additionally, Valletta’s rich history, stunning architecture, and vibrant culture make it an ideal destination for those seeking a blend of work and leisure.
Lisbon: Portugal’s vibrant capital, Lisbon, has rapidly become a favorite hub for location-independent entrepreneurs. With its charming streets, affordable cost of living, and pleasant climate, Lisbon offers an attractive lifestyle for digital nomads. The city has also taken proactive steps to foster entrepreneurship, with the creation of co-working spaces, startup incubators, and networking events that bring together like-minded professionals. Furthermore, Portugal’s Startup Visa program has encouraged foreign entrepreneurs to set up their businesses in Lisbon, further enhancing the city’s entrepreneurial ecosystem.
Barcelona: Boasting a cosmopolitan atmosphere and a dynamic entrepreneurial scene, Barcelona has become a magnet for location-independent professionals. The city’s excellent transport links, world-class amenities, and thriving tech industry have made it an ideal destination for remote work. Spain’s Residence Visa allows individuals to live and work in Barcelona for a year, making it a desirable option for digital nomads seeking a European base.
Bali: Known for its stunning landscapes and tranquil surroundings, Bali has become a paradise for location-independent entrepreneurs seeking a serene work environment. The island’s strong digital infrastructure, affordable cost of living, and welcoming community of digital nomads have turned it into a go-to destination for remote work. Initiatives like co-living spaces, co-working retreats, and networking events have further solidified Bali’s reputation as a haven for location-independent entrepreneurs.
Phuket: With its breathtaking beaches and laid-back lifestyle, Phuket in Thailand has become a sought-after destination for location-independent entrepreneurs. Thailand’s Smart Visa program, introduced to attract skilled professionals and entrepreneurs, has been a driving force behind Phuket’s rise as a remote work destination. The island’s coworking spaces, business incubators, and networking events have created a conducive environment for entrepreneurial success.
Millennials are the pioneers of the location-independent revolution. They have embraced the power of connectivity and mobility, shattering the traditional notions of work and entrepreneurship. Their unwavering spirit seeks fulfillment beyond office walls, fueling a movement that empowers them to work and thrive on their own terms.
Sandeep Jain
Managing Partner
Farro & Co
Airbnb and Spotify symbolize the vanguard of a corporate revolution, where work-life balance and personal growth are harmoniously intertwined. By embracing location independence, these forward-thinking companies recognize that empowering their employees to work from anywhere unlocks a wealth of possibilities, resulting in a workforce that is motivated, engaged, and inspired to achieve greatness.
Tiffany Ong
Partner, North Asia
Farro & Co
Empowering Employees for a Motivated Workforce
In the corporate world, an increasing number of companies are recognizing the power of location independence. By allowing employees to work from anywhere, businesses unlock a wealth of possibilities. This empowerment fosters a motivated, engaged, and inspired workforce that achieves greatness through its ability to balance work and personal life, while being productive and committed to the company’s mission.
According to a study by MBO Partners, the number of independent workers, including freelancers and digital nomads, is expected to reach 86.5 million by 2027, representing 50.9% of the total U.S. workforce (Forbes). Furthermore, a survey by Buffer revealed that 99% of remote workers would prefer to continue working remotely, at least some of the time, for the rest of their careers (Buffer State of Remote Work 2021 Report).
The location-independent revolution is reshaping the future of work and entrepreneurship, and these five prime locations – VALLETTA, Lisbon, Barcelona, Bali, and Phuket – are at the forefront of this movement. With their innovative initiatives and the recognition of the importance of work-life balance, these cities are attracting a diverse array of location-independent entrepreneurs seeking to build successful ventures while enjoying the freedom and flexibility of remote work. As this trend continues to grow, we can expect even more locations to embrace the work-without-borders mentality, ushering in a new era of global entrepreneurship.