Spain plans to entice foreign workers with tax incentives.
The narrative lately is all about the surge in Omicron cases, closures of businesses, schools and canceling of air flights and live events. While doom scrolling through social media, you’re missing out on something. Amidst the chaos and madness enveloping us, there are amazing opportunities available for the brave and intrepid. Under the radar, there is a stealth trend that could change your life.
Countries around the world that have been economically impacted by the virus outbreaks have opened their doors to digital nomads. They cater to wanderlust folks who are able to work remotely and excited about embarking upon an international adventure. Digital nomads, mainly white-collar knowledge workers, initially started relocating temporarily to beach towns, ski slopes and then ventured to far-off, international, exotic locations.
During the pandemic, a number of countries offered incentives to attract remote workers. As their economies were mainly tourism based, they were in dire need of revenue. Inducing knowledge workers to live and work in their country was a great way to bring in much needed revenue and taxes. Barbados, Estonia, Bermuda and Georgia have all opened their doors to Americans, inviting them to come, work, pay taxes and contribute to the economy. For example, in an open letter from Barbados Prime Minister Mia Mottley, she warmly encouraged people to migrate to her country. “On behalf of our beautiful island of Barbados, I would like to extend a warm welcome to you.”
Portugal is offering long-term visas to freelancers and independent workers. The country’s natural beauty, lovely weather, affordability, business-friendly attitude and access to all parts of the European Union made it a popular destination for digital nomads.
Forbes named Portugal as one of the top three countries in the world to live in and to retire. The cost of living is relatively low compared to the rest of Europe. It’s easier to live on a lower salary compared to other countries. Portugal boasts of 300 days of sunshine. Within close proximity to the Atlantic Ocean, most places in Portugal enjoy a constant pleasant ocean breeze.
Beautiful, sunny Buenos Aires is encouraging digital nomads to relocate. Argentina offers workers to lead a better life as foreign currency has better purchasing power than in places like the United States. The city launched a campaign to lure people that get paid in dollars, pounds and other currencies for extended stays, touting Argentina has “the most competitive exchange rate in the region” and Buenos Aires is “a very affordable city!”
This is part of the overall plan that provides a potential 12-month visa for remote workers, along with warm weather, bucolic boulevards,great food and relative safety compared with other cities in Latin America. Buenos Aires hopes the visa will attract 22,000 nomads by 2023.
Francisco Resnicoff, subsecretary for international relations in the city government, said that workers with this visa will not need to pay local income taxes, nor do they need to be on a company’s payroll. The city anticipates applicants will be young freelancers. Buenos Aires requires remote workers to help reboot the city’s tourism industry, which accounts for 10% …….