The pound traded in a wide range at the end of last week, after some abysmal UK retail sales figures dampened expectations for the next Bank of England (BoE) rate hike.
While working from home isn’t for everyone, there can be no doubt that our relationship with the office is going to change post-pandemic and there will be more of us remote working than ever before.
As such the dream of becoming a digital-nomad suddenly seems a lot more realistic for many of us, particularly as companies like Airbnb shy away from short-term holiday stays to month-long rentals, making the move to become a digital nomad even easier.
If you are considering the life of a digital nomad you may want to consider moving to one of these nomad-friendly countries.
Whilst it’s true that Costa Rica gives off the typical ‘entrepreneur sipping cocktails on a beach whilst pretending to work’ vibe, the country really is near the top of the list for digital nomads.
At the start of the coronavirus pandemic the Costa Rican government made is possible for anyone who entered the country in 2020 to stay without penalty until June of 2021. As that June 2021 deadline has arrived, a new one-year temporary residency status visa – aimed specifically at digitals nomads – is in the works from Costa Rican legislators.
Whilst the requirements may change before the visa is signed into law, to currently apply for the residency status you most provide proof of a monthly income of around $3,000 (£2,146.75) and a health insurance plan to cover the costs of a medical attention you may need whilst living and working in the country. The visa will however allow digital-nomads to bring their family (spouse and children) with them as well as apply for a further six-month extension during their stay.
Norway recently topped the digital nomad visa charts, and for good reason to. Norway has a specific self-employed visa, also known as the Independent Contractor Visa, which is for those who are self-employed and are working on a Norwegian business project, the visa allows residency for up to two years.
Requirements to apply for the visa include having an income of at least €35,719 (£30,612) a year, proving you have accommodation in Norway and proving you are self-employed with a contract for a business in Norway. More information on the visa can be found on Norway’s Directorate of Immigration website.
The Svalbard islands off the north coast of Norway are one of the most expensive places to live globally, though they are also the only place in the world to not require a visa to visit and reside. The islands are perfect for those with a higher income (or savings) with 24 hour sunlight hours and a constant view of the northern lights, the cost is more than worth the experience.
At the end of 2020, Greece’s government passed a new law that allowed digital nomads to reduce their income tax by half, newly settled non-natives currently only have to pay half their income tax in the upcoming seven years.
Stunning islands, architecture and history puts Greece up there to be one of the most beautiful places to live, though the country is facing a further 9% decline in GDP from the effects of the coronavirus pandemic and the government is looking to attract new investors and workers to their shores.
Whilst the current law has already attracted numerous digital nomads, the Greek government is currently working on a “digital nomad visa” which would allow residency for up to one year.
Portugal has long been a holiday hotspot and loved by many expats, and Portugal also makes it easy for digital nomads to reside in the country. The Portuguese temporary stay visa is perfect for digital nomads who want to stay in the country for up to a year.
You are eligible for a temporary stay visa if you can give evidence that you earn or will earn a minimum of €635 (£545.74) per month, this figure is the minimum required income. The Portugal temporary stay visa is valid for one year and can subsequently be renewed for 2 year periods.
The cost of living is Portugal remains cheap and the appeal of rolling hills and beachside café’s is likely to be highly temping for those of is seeking a new adventure.
With a growing number of people being afforded the flexibility to work from anywhere, we suspect even more countries are likely to launch their own ‘digital nomad’ visas in the future as they seek to attract more skilled workers, offering budding nomads with even more opportunities to spread their wings.
For further reading you may want to check out this article looking at some of the employment opportunities for digital nomads.
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