I've actually found being in the opposite timezone can be handy. Currently I'm in the US while most of my team is in India. Often, our workflow is the following:
9AM-5PM EST: build a view.
9AM-5PM IST: view becomes nicely styled.
Similarly, I can work on a project, hand it off to my developer across the sea, and considerable progress will be made before I wake up.
Of course, this strongly depends on having people I can trust - not just any developer will do.