PLAY | TRAVEL
Photo by Leo Roomets on Unsplash Estonia ’ s capital city Tallinn was named the world ’ s best city for remote working thanks to its affordable cost of living and digital maturity
Who wouldn ’ t want to work from an island that boasts 365 beaches , one for every day of the year ? As Antigua & Barbuda ’ s tourism minister Charles Fernandez puts it – “ if you are working from home in an apartment in New York or London at an exorbitant rate , you can come to Antigua where the cost of living is much lower , and the water is beautiful . It ’ s a win-win for everyone .”
Since then , more Caribbean islands – namely Bermuda , Cayman Islands , British Virgin Islands – and a raft of other countries , including Georgia , Italy , Romania , Estonia , Croatia , Dubai , Czech Republic , Greece , Costa Rica , Portugal , Mexico , and Iceland , have rolled out the red carpet for global remote workers .
Depending upon the country , visas last from six months ( Iceland ) up to five years ( Spain , Indonesia ) with most offering one- or two-year stints , though many are renewable and some can even lead to residency ( Portugal ) or citizenship ( Antigua ).
Requirements for gaining a visa vary , but most require applicants to show proof of employment with a minimum annual income , ranging from US $ 25,000 to US $ 150,000 , and proof of health insurance for the duration of the stay .
Perks , pros , and pitfalls of individual visas One of the main perks of such a visa is a reduction in taxation . Greece is luring remote workers with its digital nomad tax incentive that offers a 50 % reduction in income tax and social security payments , while Spain ’ s new visa grants preferential tax status for the first four years of residency , at just 15 % ( instead of 24 %) income tax .
Tax-free overseas income and tax-free cryptocurrency are two perks of Portugal ’ s popular digital nomad visa , while
86 March 2023