The pandemic has changed the ways businesses are conducted in many ways. It forced millions of people across the globe out of their offices to work from home. Some have even decided to escape their urban apartments or suburban homes in return for ‘workations’ in exotic countries. Enter the age of the digital nomad….
What is a digital nomad?
A digital nomad lives a nomadic lifestyle, moving from location to location and staying connected digitally. Digital nomads use technology and communication tools to complete work remotely in order to travel the country or the world.
Say hello to the digital nomad visa
As a result of this new trend, many countries have leapt at the opportunity to introduce new “remote work visas” or “digital nomad visas”. In turn, these specifically target foreigners to come work and contribute to their economies. In fact, many of these destinations hope the remote work visas will help generate income and make up for lost tourism revenue due to the pandemic.
Countries that offer digital nomad visas include:
- Antigua and Barbuda Nomad Digital Residence Programme: allows remote workers to live and work on the island for up to 24 months.
- Aruba’s ‘One Happy Workcation’ Programme: allows individuals to live and work on the island for up to 90 days. It also offers remote workers package deals and discounted rates at local resorts, hotels and rental homes.
- The Barbados Welcome Stamp: this special 12-month visa allows one to relocate and work from one of the world’s most beloved tourism destinations.
- Bermuda’s Work from Bermuda Certificate: invites digital nomads to spend up to a year working from the island and is aimed at professionals who normally work from home. The hope is that the new visa will attract long-term travellers who want to base themselves from an island destination.
- The Cayman Islands Global Citizen Concierge Programme: allows persons employed outside of the Cayman Islands with the financial independence to work remotely, relocate, and live in the Cayman Islands for up to 24 months.
We’ve put together this resource that discusses the rise of digital nomads as well as the requirements for the abovementioned visas.
Stay a little longer
It can happen that a digital nomad absolutely falls in love with the country that they are working from and would like to call it home. For those, there is always the option of Citizenship by Investment (CBI).
What is Citizenship by Investment?
CBI programmes offer the opportunity to legally acquire a new nationality in return for an investment in the host country’s economy. Just over a dozen countries in the world currently offer economic citizenship. There is a higher concentration of CBI programmes in the Caribbean – a region considered the cradle of second CBI.
Let us assist you
Choosing the right CBI programme is vital and requires careful consideration. We recommended speaking to an expert at CS Global Partners before starting your journey to a second citizenship.