Applying for the New Digital Nomad Visa
The new digital nomad visa from the Portuguese Government is aimed at encouraging young highly qualified professionals into the country.
With tempting slogans such as “have you ever thought about working by the sea, in a tropical country, with a low cost of living and low taxes, right in the middle of Europe?” It has been attracting plenty of attention in all the right places.
With many of the younger generation of Portugal leaving the country to find better education or work and the average in Portugal now being around 45 years, it looks like an attempt to entice a younger generation of professional workers into the country.
Such has been the worldwide reception regarding the scheme that Portugal is now being hailed as the new haven for digital nomads. Reports say this has led Portugal to become a favourite destination for Americans who want to move abroad.
The digital nomad visa is tailored for remote workers looking to temporarily relocate. The thought is that it could also act as a changeover visa between a temporary residency and obtaining a full D7 Visa
The scheme has appeared in some of the world’s most prestigious media outlets including the Washington Post, Timeout and Bloomberg all of whom have praised the scheme.
A report from CNBC with the title “A cool destination to just start over: Burned-out millennials are flocking to Portugal” states
Previously, it seemed like Portugal was the destination to retire. And now it seems like it’s a cool destination to just start over!
According to reports the Digital Nomad Visa officially called the ‘residence visa for the exercise of professional activity provided remotely outside the national territory will come into effect at the end of October 2022 and will allow so-called Digital Nomads to live and work in Portugal for a year.
Applicants for the visa need to prove they are able to earn at least €2,820 a month which is around four times the national minimum wage of €705 in the country at the moment.
It is a very positive move forward and will boost the arrival of more digital nomads, who will now have the ability to stay in Portugal for up to a year. As well as the value of being able to stay they will also benefit from some tax options.
The fact that Portugal is widely considered one of the safest countries in the world is a definite factor taken into account by most who make the decision to come relocate to Portugal.
According to the Nomad List service, which judges some of the best destinations in the world for this community, Portugal has three cities in the top 10 of the best places to work remotely, and two of those locations are in the top three.
With the Algarve having a great climate and a choice of wonderful places to stay it looks like the Nomads will be arriving in their droves! Especially now they won’t need to apply for the Residence Visa followed by applying for the Residence Permit.
The managing Partner handles the property promotion and sales from the Almancil office which is also adjacent to the luxury coastal golf resorts of Vale do Lobo and Quinta do Lago. With over 25 years of experience in the Algarve property & financial markets.
