The minimal stack
You can run a location-independent business on four things: one multi-currency account to get paid, one card for daily spend, one health policy, and one data plan. Everything else is optional until you have revenue.
| Job | Pick | Why | Rough cost |
|---|---|---|---|
| Get paid by clients | Wise | Mid-market rate + ~0.4–1.0%; local account details in USD/EUR/GBP | Free to open; per-transfer fee from ~0.41% |
| Daily spending card | Revolut | Best app/FX for everyday spend; fee is a fixed monthly, not a % | Free–~USD 10/mo tier |
| Marketplace payouts (Upwork/Fiverr) | Payoneer | Only if you must; then move funds to Wise | USD 29.95/yr if you receive < USD 2,000/yr |
| Health cover | SafetyWing or Genki | See table below | USD 45–65/mo |
| Data | Airalo / regional eSIM | Data on arrival, no contract | ~USD 8–20 per country-month |
Banking: Wise vs Revolut vs Payoneer
For receiving direct client payments, Wise is the cheaper choice in almost every corridor: mid-market rate plus roughly 0.7–1.0% all-in, versus Payoneer's 1.5–3%. Payoneer also charges a 2% FX markup, USD 1.50 per ATM withdrawal, and a USD 29.95 annual fee if you receive under USD 2,000 in a year.
| Use case | Best pick | Notes |
|---|---|---|
| Invoicing clients directly | Wise | Local account details in 9+ currencies; lowest effective FX |
| Income from Upwork / Fiverr / marketplaces | Payoneer → Wise | Take the marketplace payout, transfer to Wise for a better rate to your home bank |
| Everyday spending & travel | Revolut | Best app and card experience; fixed monthly beats a percentage for regular earners |
| Regular SEPA payments (EU freelancers) | Revolut | Replaces most of what Payoneer offered, lower total cost |
Fintech accounts freeze for review, sometimes for weeks, usually with no warning. Keep at least two live (e.g. Wise + Revolut) and a home-country bank account you can still access from abroad.
Health insurance: SafetyWing vs Genki
| SafetyWing | Genki | |
|---|---|---|
| From | ~USD 45/mo (Essential); ~USD 63 / 4 weeks under 40 | ~USD 65/mo (World Explorer) |
| Billing | Rolls every 4 weeks; start / pause / resume | 1 month to 1 year |
| Limit | Plan-dependent | Up to €1,000,000 per case |
| Deductible | Plan-dependent | €50 per case (waived for inpatient) |
| Adventure sports | Limited on basic | Most included by default |
| Routine / dental / mental health | On the Complete tier | Outpatient + mental health on World Explorer |
| Meets visa insurance requirement | Yes, on most nomad visas | Yes |
Rule of thumb: SafetyWing if your travel is open-ended and you want to pause cover between trips; Genki if you want higher limits and adventure sports for the money and you are settling somewhere for months.
Connectivity
A regional or per-country data eSIM (Airalo, Saily, Ubigi, Nomad) gives you working data the moment you land, with no contract. Saily is usually the cheapest per GB for short stays; Airalo is the best all-rounder for coverage. Add a local physical SIM only where you need a local number for bank OTPs and delivery apps.
Invoicing & accounting
- Invoicing from abroad: a lightweight tool (Wise's own invoicing, or a dedicated invoicer) that outputs a clean PDF with your business details and the client's, in the client's currency.
- Bookkeeping: keep it minimal — one business account, monthly export, a spreadsheet or a small SaaS. Don't buy an enterprise accounting suite as a solo freelancer.
- Tax: your tax residency is a legal question, not a tooling one. This section is about invoicing and records; get country-specific advice for where you actually owe tax.
Each of these gets its own tested comparison — criteria, limits, alternative, test date, and a clear affiliate disclosure. This page is the map; the deep dives link out from here.
- Wise or Revolut — just one?
- If forced to pick one: Wise, because getting paid reliably matters more than card perks. But running both is the point — one covers the other during a freeze.
- Do I still need Payoneer?
- Only if a marketplace or a specific client can pay you no other way. Otherwise Wise covers direct invoicing at a lower cost.
- Is SafetyWing 'real' health insurance?
- The basic tier is travel-medical cover for emergencies. If you want routine care, dental and mental health, you need SafetyWing's Complete tier or a plan like Genki World Explorer.
- Cheapest eSIM overall?
- Saily tends to win on price per GB for short stays; for a month in one country, Airalo's 20 GB / 30-day plans are usually the better value.