×
Get Paid Early
You could win $5,000!
Enter daily for more chances to win. Sweepstakes end November 10th, 2024. New Users Only.
Enter Sweepstakes Get Paid Early

What Are Digital Nomad Visas and How Can You Get Paid to “Workation” Abroad?

Written by
Digital Nomad Visas

Ever wish you could get paid to travel the world? In the current chapter of the fast-moving digital revolution, an intrepid group of boundary-pushers — called digital nomads — have found a way to do just that. But historically, it hasn’t been so easy to do. 

In the past, those who have wanted to work abroad have had to secure a traditional work visa, as though they were actually seeking employment in the country they were traveling to. That isn’t the case anymore thanks to digital nomad visas – specialized visas designed to seamlessly facilitate “workations” abroad.

What are digital nomad visas and who is eligible for them?

Also called remote work visas or simply nomad visas, digital nomad visas are tailored for those who are looking to work remotely while residing in a foreign country. These visas are designed for remote workers who can support themselves financially while working from anywhere. They provide legal residency for a specific time period and, in some cases, tax benefits. That makes it easy for digital nomads to live and work abroad without having to secure a traditional work visa. While they’re not as tough to get as traditional work visas, digital nomad visas come with specific requirements like proof of employment, minimum income thresholds, and proof of health insurance coverage. Beyond that, eligibility for digital nomad visas varies by country. 

Countries offering digital nomad visas

Over 50 countries around the world and counting have introduced Digital Nomad Visa programs, recognizing the economic potential of attracting remote workers. These countries include Portugal, Bermuda, Costa Rica, Greece, Croatia, Germany, Norway, Mexico, Spain, Hungary, Dubai, and Taiwan. Two of the newest — Turkey and Italy have caught many eyes (and application requests). The United States does not currently offer digital nomad visas. One of the easiest to obtain is for Mauritius. Its version of a digital nomad visa, called a Premium Travel Visa, is free of cost (most others cost at least $500), takes a few minutes to fill out, qualifies you to stay a full year with unlimited come-and-go privileges, and even allows family members to join. 

Decoding the rise of digital nomadism 

Many factors have collided at once to usher in the digital nomad revolution. Advancements in WiFi, VPN technology and high-speed Internet have removed physical barriers for the most part. And the COVID-19 pandemic saw many people change to a remote-work schedule. This has led to a surge in people embracing location-independent lifestyles, and maintaining their careers with being tied down to one place.

Benefits of digital nomad visas

Digital nomad visas offer plenty of pluses. For remote workers, these visas provide the opportunity to explore diverse cultures, expand professional networks, and potentially enjoy a higher quality of life at a lower cost (depending on where they’re traveling from). Oh, and did we mention the life-altering bliss of being able to put together a brief PowerPoint presentation from a tropical beach cabana or European seaside cafe? There are also benefits for the host countries: Digital nomad visas drive tourism and stimulate local economies.

Potential drawbacks 

Inherently, there are no drawbacks to the concept of wanting to explore the world and do your work from somewhere new. But there are some potential disadvantages to digital nomad visas, and most can be avoided through careful planning and consideration before making the jump. Disadvantages can include limitations on the type of work you can do (in virtually every case,’you are not permitted to enter your host country’s labor market), difficulty securing a comprehensive international healthcare plan, and there’s also the possibility of being taxed rather heavily in the country you’re traveling to and your home country. Consult legal, financial and tax advisors before applying for the visa, to avoid any of these surprises down the road. 

Digital nomad visas are a game-changer for those seeking to embrace the digital nomad lifestyle without the legal complexities of working abroad. As remote work continues to gain momentum, these visas pave the way for a seamless fusion of work and travel that just might change your view on life. 

If you enjoyed this content, download the MoneyLion app for lots more guidance, useful tips, and money hacks.