Some people enjoy traveling full-time instead of setting up a place of residence. Instead, these individuals decide to establish a domicile within a state offering favorable conditions like South Dakota. Citizens can only legally have one domicile while they can have multiple residences.
According to the government, a domicile is simply the state where a person legally lives. For full-time travelers renewing licenses, getting mail, healthcare and auto insurance, having fewer taxes, voter registration, and on, makes only a handful of states like South Dakota an affordable and straight forward choice.
Setting up the domicile is relatively easy in the state with just a few steps and an overnight stay. The many advantages and peace of mind that come with a South Dakota domicile make full-time life on the road not only possible but much more comfortable.
Learn the pros and cons of South Dakota residency at https://retirepedia.com/16-pros-and-cons-of-south-dakota-domicile.html.
The Perks of Establishing Residency In South Dakota
Many people living life on the road put careful time and forethought into where they should set up their domicile, an affordable and relatively simple state and county for legalities.
Much of the focus is on taxes, maintaining access to professionals, including medical providers, legal experts, accounting services, establishing voter registration, and so much more.
While no state is perfect, a select few travelers distinguish overwhelmingly close choices after assessment, including South Dakota. The residents are minimally taxed plus the state is readily accessible regardless of where you might be. Here are factors to consider.
Tax incentives
A primary benefit to establishing South Dakota Residency are the tax incentives. It’s one of only a few states that refrain from charging private income taxes and is only one of two without business receipt or corporate income taxes, making it perfect if you’re self-employed.
It’s also ideal if you’re retired, which many full-time travelers are. These individuals hope to avoid issues like estate or inheritance taxes to be able to give the next generation wealth accumulated over the years.
Cost of living
Compared to the national average, the cost of living in this state is low with the house value coming in at “lower than 18 percent compared to the national average and 35 percent cheaper for a two-bedroom apartment.”
Utilities, including electricity, are less by “roughly 4 percent,” and transportation is less costly than in most other states. Car ownership is the least expensive in South Dakota, and because the roadways are minimally congested, car maintenance and fuel costs are low.
Employment
The employment market is jumping with jobs increasing in the industrial fields. The unemployment rate is lower than the national average at “only 3.4 percent with it being the 4th best for job opportunities and economic standing.”
Fields continuing to grow in the state are healthcare and education if the skills mentioned differ from your strength.
Culture and diversity
The state has fewer than a million citizens with many of the towns being rural and slightly populated. Urban areas include Rapid City and Sioux Falls, with many amenities, but these are blissfully accommodating for everyone from all walks of life.
Steps To Become A South Dakota Resident
Traveling full time seems like a fantastic lifestyle until someone you love tries to send you a package and some companies will only send paper invoices. No one wants to purchase a house merely to be able to get a bill in the mail. Go here for details on how to claim residency.
Nowadays you don’t need to buy or rent a house or get a post office box to get your mail. Instead, you can set up a virtual mailbox to get a permanent mailing address to establish a domicile without changing any part of your lifestyle. The method for setting up domicile includes establishing a permanent address using a virtual mailbox.
Setting up a virtual mailbox
You’ll find several virtual mailbox carriers to set up an account. With these services, you’ll be supplied with an address that will serve as your permanent “domicile,” the same as a standard street address would work.
When mail is sent to the virtual mailbox, it’s scanned and forwarded to you to decide the next step. The changes must be made with the USPS to send all mail to the virtual address. The monthly fee is nominal.
An overnight stay
An overnight stay is needed to set up domicile in order to get a driving license. You can stay anywhere you choose whether camping or staying in a hotel, but a receipt will need to be provided as proof of the stay. The receipt with the driving license application can be up to a year old.
When switching your license, you’ll need to have the required documents along with a small fee for what is a relatively simple process.
Voter Registration
Registering to vote is another way to set up domicile within the state. You can do this when obtaining your driver’s license or vehicle registration, a straightforward process. When registering a vehicle, you’ll need your South Dakota address and license plus documents required by the state.
Final Thought
Insurance costs including car and health are low in South Dakota. You can search for a health plan through the “Affordable Care Act with the federal government’s healthcare website.”
It’s essential to develop private connections in the state and county whether these be with local medical providers, legal experts or professional accounting associates. You can also reach out to social organizations, religious affiliations, or other agencies to establish yourself as part of the community.
If you have personal effects that you need to keep in a single location, it’s wise to consider storage facilities where you’ve set up your domicile. That’s especially true since you’ll travel back periodically for license renewal, physicals, voting, and other needs.
Now no matter where you travel or for how long, you have some roots and can benefit in many ways from what the state has to offer.
