Whether you’re considering a Money Fomo program for yourself or for one of your employees, this page is designed to provide clarity into our most frequently asked questions. We understand that while the opportunity to work while traveling is exciting, there are a lot of factors to consider before taking the leap. If you have specific questions or just want to chat about these topics in more detail, we encourage you to reach out to our Customer Success team. They can be reached by emailing [email protected], or by filling out the form at the bottom of this page.
Below please find information on the following topics:
Safety and security is a top priority when deciding where and when to travel. Money Fomo has several layers of security measures in place, to ensure that our program participants have a safe, productive and enjoyable stay in each city they visit. Below you’ll find detailed information on:
International SOS is the world’s leading travel and security risk services company, servicing 83 of Fortune 100 companies. They offer country specific support in the following areas and are available to all Money Fomo participants 24/7:
Country guides which include:
*Any rendered services such as emergency assistance, evacuation, and transportation will result in an additional cost to the user.
In addition to external security resources, Money Fomo’s security protocol consists of an expansive network of individuals deployed on the ground in each of our operating geographies. Alongside each Money Fomo program, there is a dedicated full-time Money Fomo staff member traveling with the community as a Program Leader, for the entire duration of the program. In addition to Program Leaders, we have a local operations team in each city where we travel. These teams are often native to the region and know all the tips and tools to help our participants live like locals. The local operations team is the first point of contact for local recommendations and general advice. They are responsible for facilitating professional development events, excursions and providing our participants with up to date need-to-know information before arrival. Prior to arrival, the team hosts a city preview webinar which provides an overview of the city, the culture, language tips, history and major events, best practices and up-to-date safety and security risk information.
As part of our new participant onboarding process, each participant has access to an extensive array of information in our welcome portal. This portal includes includes the following information as it relates to safety and security:
Center for Disease Control (“CDC”) information
Another tier of our security protocol consists of our ever-strengthening relationships with local embassies. Given the large groups we consistently bring into each city, we’ve made it a priority to maintain an open channel of communication with local embassies. This ensures that they are aware of our presence, and can keep our team updated on all pertinent local information. Additionally, many of the local embassies work alongside the Money Fomo team to create unique programming and educational opportunities for our participants.
As a final step to ensure the safety of our employees and participants, Money Fomo encourages all staff and program participants to sign up for the U.S. State Department Safe Traveler Enrollment Program (STEP). STEP provides information from the State Department about each destination country. Non-US Citizens / Nationals may not be eligible for STEP, however, they are able to sign up for the US State Department's Travel Alerts and Warnings email subscription service. This will alert them of any travel safety information about their destinations. We also suggest remotes check if their home countries have a STEP equivalent.
Creating an environment where our program participants can feel safe and secure are key considerations when choosing where we travel and work. For the convenience and security of our participants, we have the following criteria in place for each workspace:
Each company carries its own specific IT privacy requirements. If you require additional support or have detailed questions, Money Fomo has a dedicated IT team that can discuss available options. For our enterprise clients, we are able to customize an IT support plan that suits your needs. If you have additional questions, fill out the form at the bottom of this page and we will work with you directly to answer your questions and meet your needs.
Whether you’re in your backyard or traveling abroad, life can change in an instant. If your current healthcare coverage does not provide for issues that arise outside of the United States, it is important to secure supplemental coverage. In some countries, possession of health insurance coverage is a condition of entry. Money Fomo has several preferred international carriers that provide a variety of options that will suit any coverage need and budget. Plans are fully customizable and range in price from $35 to $200 USD per month. Plan offerings include:
Please click here for a preview of the international plan options provided by our partners.
Everything herein is for informational purposes only and is not to be considered as, or relied upon as, tax advice or legal advice. The information provided is a high level summary of certain tax considerations, immigration considerations, and other considerations for the countries where Money Fomo operates. This is based on our experience, the experiences of past Money Fomo participants, our research, and tax and immigration memos we’ve received from reputable firms in each country, and it is limited to U.S. citizens working remotely for a U.S. company and not entering contracts or sourcing deals in the foreign country. Money Fomo assumes no responsibility for the information provided. Upon request, Money Fomo can provide prospective enterprise partners with additional resources, including tax and immigration memos from “big four” accounting firms or government opinions for each of the countries to which we travel. However, tax and immigration considerations vary based on many factors, and none of this information should be considered a substitute for consulting with tax and immigration professionals.
The concept of working remotely while traveling abroad is still relatively new. As an employer, you’re likely asking, “what visas/permits (if any) do I need?” and “what are the potential tax implications?” The good news is that Money Fomo has been providing travel services to thousands of remote working individuals for over three years, and we’re committed to ensuring that we operate legally and responsibly each country where we travel.
Many governments haven’t issued public guidance on best practices for working remotely, but operating in a legal gray area wasn’t good enough for us. In each country Money Fomo visits, we’ve worked with the local government, local offices of “big four” accounting firms, and/or local law firms, to receive written clarification on what visas are appropriate for remote workers and the potential tax implications of remote work.
Based on the information we received, traveling as a tourist is the appropriate method for most Money Fomo participants. With that said, every participant, employer, and country is unique so we encourage you to reach out to our Customer Success team with questions. Below is a non-exhaustive list of factors that may impact the tax and visa implications of remote work and travel.
If you have determined that a tourist visa is appropriate, payroll will likely remain consistent while an employee is traveling with Money Fomo.