Do you find yourself looking overseas for a new place to call home?
Today we’re exploring 2 regions perfectly suited for digital nomads, and by the end hopefully we can help make your decision on which country you’ll soon be calling home that little bit easier.
Although there are over 46.7 million online creators who describe the level at which they produce content as amateur, sponsored influencers are worth over US$8 billion as of recently, making the market extremely lucrative and only set to expand into the future. If you find yourself in either category, it is important to understand where in the world will facilitate your ambitions the best.
Europe
Europe is a hub for relocation for people from across the globe, boasting competitive costs of living, impressive history and diverse cultures, meaning there is a lot on offer for those of you who are classed as digital nomads
Now, the best thing we can do is take a real world example in order to best demonstrate the potential for digital nomads in Europe, specifically Andorra.
The cost of living in Andorra is comparatively relatively inexpensive, immediately presenting you with an affordable European option where the high quality of life is paired with a relatively cheap lifestyle, noted at 30% more affordable than major cities around the world.
In terms of taxation, there is no sales tax, people starting their own company only pay corporate income tax of 10%, and after the combined allowance of €40,000 untaxed income for married couples is exceeded, the maximum income tax is also 10%, presenting Andorra as a perfect place to experience a low cost of living in Europe while also saving more money.
In terms of personal benefits outside of the economic advantages already mentioned, Andorra is picturesque, providing you with a location in which you can feel relaxed, while also having an average internet speed of 285Mbps which is pretty impressive too.
Caribbean
The second region we’re diving into today is the Caribbean, another exhibiting some programs perfectly designed for digital nomads.
The specific example we’ll share to give you all an idea of what can be found there is the Antigua and Barbuda Citizenship Program, offering a long-stay program under the name Nomad Digital Residence for remote workers. This one has a duration of 2 years.
Also this country offers an excellent solution for foreigners seeking access to the European and Caribbean markets, as well as visa-free access to key Asian financial centres.
If you’re interested in finding out more, these are the requirements:
First you have to make proof of a expected income of at least $50,000 for the main application for each year of the program
Then you have to submit up to 11 documents, from proof of funds to proof of employment, medical insurance coverage, and police clearance
Finally you should make this payments: $1,500 per individual, while couples pay $2,000, and families of three or more pay $3,000
So, which region is for me?
Now that we’ve covered both regions, you may be stuck at a crossroads, needing to decide which region is really for you.
Immediately, we can see that Europe is catered more broadly to digital nomads, being an extremely inviting place for creators looking to make use of high-quality facilities for a reasonable price, in Andorra for example.
However, there is no residency program there, unlike Antigua and Barbuda which presents itself as a more permanent home for digital nomads.
Therefore, if you’re looking to Europe as a digital nomad, perhaps it’s for a shorter term duration with relatively frequent relocation in mind, whereas the Caribbean is for the more permanent relocation desiring digital nomad.
So, if you are interested in finding out more about how you can relocate to Europe or Asia as a digital nomad, as well as other opportunities to develop your business, contact us today! Below this article, you will find a link to set up a free fifteen-minute consultation with us to discuss your options further.
Also, if you want to access our other great content, subscribe to our YouTube channel! At Creimerman, our team of professional global citizens would be happy to help you with your personal or professional cross-border ventures and help make them a success.