In recent years, the rise of remote work and the increase in demand for location-independent lifestyles has given rise to a new category of visas: digital nomad visas.
These visas allow individuals to live and work in a country for an extended period of time, typically a year or more, while earning an income remotely. Two regions that have become popular destinations for digital nomads are Latin America and Asia. In this article, we will compare the digital nomad visa programs in these two regions and highlight their similarities and differences.
Digital Nomad Visas In Latin America
Many countries in Latin America have recognized the potential of digital nomads to contribute to their economies and have created visa programs to attract them. Some of the most popular digital nomad visa programs in Latin America are:
Argentina Rentista visa: This visa allows digital nomads to stay in Argentina for up to 12 months. It is required to prove a monthly income of at least 500 USD from a guaranteed source. You may establish a business or work on their own, but may not work as employees. Also after two renewals, you will be eligible for permanent residency. This visa is family friendly you can include your spouse and children under 25 years of age.
Mexico Digital Nomad Visa: Launched in March 2021, this visa allows digital nomads to stay in Mexico for up to 12 months. To qualify, applicants must prove that they earn a minimum income of $1,620 USD per month and provide proof of health insurance coverage.
Costa Rica Remote Worker Visa: Launched in August 2020, this visa allows remote workers to stay in Costa Rica for up to 12 months. To qualify, applicants must prove that they earn a minimum income of $3,000 USD per month and provide proof of health insurance coverage.
Colombia Remote Worker Visa: Launched in November 2020, this visa allows remote workers to stay in Colombia for up to 180 days. To qualify, applicants must prove that they earn a minimum income of $2,000 USD per month and provide proof of health insurance coverage.
Digital Nomad Visas in Asia
Asia is a popular destination for digital nomads due to its low cost of living, high-quality infrastructure, and vibrant cultures. Many countries in Asia have also recognized the potential of digital nomads and have created visa programs to attract them. Some of the most popular digital nomad visa programs in Asia are:
Thailand Smart Visa: Launched in 2018, this visa allows digital nomads to stay in Thailand for up to four years. To qualify, applicants must work in one of the targeted industries, such as technology, medicine, or tourism, and provide proof of income.
Indonesia Multiple Entry Visa: Launched in 2016, this visa allows remote workers to stay in Indonesia for up to one year. To qualify, applicants must provide proof of income and have a sponsor in Indonesia.
Malaysia My Second Home Program: Launched in 2002, this program allows individuals to live in Malaysia for up to 10 years. To qualify, applicants must meet certain financial and health requirements and must provide proof of income.
Which region is best for me?
Despite their differences, the digital nomad visa programs in Latin America and Asia share some similarities. For example, most programs require applicants to provide proof of income and health insurance coverage. Additionally, most programs allow digital nomads to stay in the country for an extended period of time, typically a year or more.
One major difference between the programs is the cost of living. While many countries in Asia have a lower cost of living than their Latin American counterparts, the cost of living can vary widely within each region. Additionally, some programs, such as the Thailand Smart Visa, require applicants to work in specific industries, while others, such as the Colombia Remote Worker Visa, do not.
Both Latin America and Asia offer attractive destinations for digital nomads, with visa programs that allow them to live and work remotely for an extended period of time. Whether a digital nomad chooses to go to Latin America or Asia ultimately depends on their personal preferences, such as cost of living, cultural experiences, and work opportunities. Regardless of where they choose.
So, if you are interested in finding out more about digital nomads visas and its opportunities to develop 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.
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