The digital nomad visa or the Golden Visa are visas that can allow you to settle and work abroad. There are still some differences between these two visas. You are probably a future digital nomad, we will see in this article, which visa best suits your objectives, for your future experience abroad.
The digital nomad visa
This visa allows a employee or entrepreneur of work remotely, in a foreign country. To do this, he must carry out all his professional missions for his company, located in his country of origin. Today, digital nomad visas can be applied for to travel to Europe, the Caribbean, Africa, South America, Central America and Southeast Asia.
Visa eligibility
Each destination imposes different conditions of obtaining. The procedure to follow, depending on the visa, may be specific to each destination. For some visa applications, the process can be completed online, or at an embassy. The duration of the visa also differs from one destination to another. Finally, documents or proof of income must be justified.
The digital nomad visa is ideal to apply for an employee, a self-employed person or a business manager who would like to live abroad, for a determined time. It is important to note that some digital nomad visas lead to permanent residence, subject to certain conditions. For most, to become a permanent resident, you must have lived in the country for 5 years and be a tax resident. This case has not yet been developed and does not concern the majority of destinations. The most popular visas leading to permanent residence are Greece, Portugal and Spain.
The Golden Visa
This visa concerns entrepreneurs, THE retired as well as wealthy people, who would like to become a permanent resident or citizen abroad. To obtain this visa, each applicant must make an investment, in real estate or in a business for example. Investment requirements and amounts differ by country. Currently, more than 19 countries offer the Golden Visa.
Visa eligibility
The first condition to obtain this visa is to be over 18 years old. Unlike the digital nomad visa, the applicant must prove that they have a minimum investment. The applicant must prove that he obtained his funds and must provide proof of these financial statements. These investments can take the form of acquisition of real estate, specific funds, donations for the country or shares in a company. To maintain permanent resident or foreign citizen status, the applicant must live for a certain amount of time in the country each year. This is defined by each country. It may be recommended to obtain a second passport in the foreign country as well as a residential address in order to protect assets and reduce tax rates.
The objective, with the Golden Visa, is to obtain the status of permanent resident. Subsequently, applicants can obtain the citizenship. The most popular Golden Visas are those of Vanuatu, Turkey and Saint Lucia.
The Golden Visa is ideal to apply for for a traveler looking to diversify their investments and lifestyle. With permanent residence and citizenship, it is the advantage of being able to travel to the country concerned whenever you want. Unlike a digital nomad, who must respect a specific length of stay.
Can a digital nomad apply for a Golden Visa?
There are therefore real differences between these two visas. For a digital nomad, interested in move abroad, he may consider requesting a Golden Visa. The conditions to be respected are therefore to be an entrepreneur and to have the necessary funds to invest in a foreign country. The digital nomad visa is the best option, if you just want to live and work abroad for a determined time and that you plan to continue working for the company in your home country. The question of your family life must also be taken into account. Depending on the destination and type of visa, it is possible to include your family or accompanying persons in your request. Ultimately, the choice of visa depends on your way of life and your future goals.
Did you know ?
These two visas were created with the aim of stimulate the country's local economy, in which we will live for several months or in which we could settle down as a permanent resident. Indeed, during a digital nomad experience, you spend your money in local businesses, which contributes more to the country's economy. Finally, we see many advantages: We contribute to the local economy, we can keep our job in our country of origin thanks to teleworking, we discover new destinations which improve our productivity and our creativity.