Portugal’s continuous innovation when it comes to immigration channels struck again, culminating in the launch of the EU country’s Digital Nomad Visa.
The Portuguese Government aims to attract highly skilled remote professionals to come work and live in Portugal through its Digital Nomad Visa. The goal is to both attract talent and increase income through taxes, bank transfers, and the day-to-day expenditures digital nomads pay while residing in the country.
The introduction of the Digital Nomad Visa puts Portugal among a list of European countries that offer similar options, such as Malta, Croatia, Romania, and most recently Spain. The new visa comes as great news for many digital nomads looking for another home, and Portugal offers an excellent option.
According to Euro News, Portugal has approved over 200 visas since the visa type was launched in October 2022, with most applications coming in from the USA, the United Kingdom and Brazil.
This piece will cover the basics of the Digital Nomad Visa, and why Portugal is an optimal destination for remote workers.
What Is A Digital Nomad?
A digital nomad is someone who works remotely, often from different locations around the world, using digital technology such as the internet and mobile phones. They typically work in freelance writing, web design, programming, and consulting, among other fields. Digital nomads often travel to different countries to take advantage of lower costs of living and diverse cultural experiences.
What Makes A Country A Good Destination For A Digital Nomad?
A good destination for a digital nomad should have reliable internet access, a low cost of living, and a vibrant culture. Additionally, the country should have a sound visa policy that allows digital nomads to stay for extended periods of time.
Finally, the country should have a good infrastructure that allows digital nomads to access the resources they need to work remotely efficiently.
What Is Portugal’s Digital Nomad Visa?
Portugal’s Digital Nomad Visa is a special visa that allows digital nomads to stay in Portugal for up to 12 months at a time. The visa is designed to make it easier for digital nomads to work remotely in Portugal. To be eligible for the visa, applicants must demonstrate that they have the financial means to support themselves while in Portugal and that they have a valid health insurance policy.
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Applicants must have an income four times the amount of the minimum wage. Meaning a single applicant must prove a monthly income averaging at least 3,040 Euros. The amount goes up slightly for every additional family member coming with them to Portugal.
Digital Nomad Visa applicants must also apply for a tax number (NIF number), get a long-term lease agreement in Portugal, health insurance and prove that they will continue to make money while staying in Portugal.
What Makes Portugal The Optimal Destination For Digital Nomads?
Portugal is one of the most coveted destinations for remote workers. The EU country has a high standard of living at a much lower cost than many of its neighbours.
In fact, Portugal ranks 66th on the Cost-of-Living Index, meaning, on average, it is cheaper to live in Portugal than 65 other countries, including the likes of KSA, UAE, Jordan, Senegal, Kuwait, most of Europe, Belize, and others.
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Portugal also has a robust infrastructure that allows digital nomads to enjoy their stay without sacrificing their working ability. Portugal currently ranks 22nd worldwide in terms of internet speed (average speed of 215 Mbps), and its internet costs are relatively low.
The country’s strategic location is also a major factor, as a person can fit a meeting with someone in Singapore and another with someone in the United States in the same 9-5 business day. Its central location also allows for easy travel across the globe.
Finally, Portugal’s pleasant climate plays a major role, as, with 300 days of sunshine, Portugal is an amazing place for digital nomads who want to explore the country and get away from harsh winters.
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All these factors make Portugal a great destination for remote workers. The new Digital Nomad Visa was the last piece of the puzzle, making it easy for foreign workers to come and reside in the country.
To know more about the Portuguese Digital Nomad Visa, contact us today to book a comprehensive consultation with one of our experts. Our strong bilingual teams at Savory and Partners’ Dubai and Lisbon offices help investors find the best investment options.
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