Lately, there has been considerable debate on social media about leaving the U.S. or other countries like the UK or Australia for a better quality of life in Europe, Asia, and other regions. The rumblings have come from podcasts such as entrepreneur Steven Bartlett’s notable “Diary of a CEO,” as well as from Instagram and TikTok influencers. Kacie Rose Burns’ most popular video on leaving the U.S. for Italy was viewed 19.8 million times. The overriding theme: The new American dream is to leave America.
Record numbers of Americans already wanted to leave the U.S. when Donald Trump won the presidency in 2016, including 40% of women younger than 30, according to a 2019 Gallup Poll. Similar sentiment is seen among British people, as recent polls suggest that most are unhappy with the UK’s direction. In a survey by pollster Omnisis, 45% of British respondents said they would take up the opportunity to leave.
The wealthy are building passport portfolios by applying for second citizenship if they need to flee their home country due to financial instability. Recent high-profile examples include tech billionaires Peter Thiel, who added citizenship in New Zealand, and former Google CEO Eric Schmidt, who has applied in Cyprus.
Welcoming Foreigners
Countries are constantly launching new visas to attract foreign residents and their economic contributions. In April 2024, Italy launched its digital nomad visa, providing extended residency to remote workers who derive their income from outside the country. Spain, Portugal, Norway, and 50 other countries already have such visas.
British digital PR specialist Laura Burns now lives in Malaga, thanks to Spain’s “teletrabajadora” (remote worker) digital nomad residency. After lockdown, Burns went on a short trip to Ibiza with her friend and realized she wanted to move to Spain. “I had lived in a city for five years, and I was ready to move closer to a beach,” she says.
Not everything about the process seemed rosy. “I waited four months for a form from the UK government, which slowed down my process,” she says. “Also, finding a long-term rental is very difficult in Malaga.” A long-term rental is required to be registered for the program. Yet Burns has no regrets and says she was lucky to find a great lawyer who did everything from start to finish. “I was also fortunate to be granted three years residency—which is more than I thought I would be granted,” she says.
Golden Visa Clampdowns
While there are several ways to get foreign residency, buying into it through a so-called ”golden visa” seems to be the most common one among the elite. This visa allows individuals to quickly obtain residence or citizenship in return for making qualifying investments. However, due to social pressures, those programs are now being eliminated in several countries.
On April 9, the Council of Ministers in Spain voted to end granting visas in exchange for purchasing properties valued at 500,000 euros (about $545,000) or more. In February 2022, the UK government closed its long-running Tier 1 Investor visa route, its version of a golden visa. The Home Office said that the visa category had failed to deliver for the UK people and provided opportunities for corrupt elites to access the country.
“In Spain, the reason exposed by the President during a public press conference was that they were going to focus on the constitutional right of having a home.” So says Marbella Solicitors Group Law Offices senior partner Eduardo Pérez Mazuecos, who has assisted numerous clients in purchasing properties and obtaining the golden visa. “From the point of view of our many expert agents, this explanation of the measure is not reasonable.” He says properties over 500K are out of range for the average Spaniard, anyway, calling the luxury property and average property markets completely different.
Mazuecos’ office specializes in advising English-speaking clients on legal and tax advice and mainly deals with real estate law. Apart from purchasing a property, foreigners could also access the golden visa by purchasing public debt or shares on Spanish properties or making bank deposits. However, Perez Mazuecos says that the investment amount must be considerably higher. “In any case, the policies of canceling the golden visa programs comes not only from the government but these decisions are also pushed by the EU Commission which is pointing in that direction.”
Patrick Mitchell, a U.S. citizen with a Spanish residence visa, says it took nine months to get the paperwork. His wife and children live in Spain, while he travels back and forth to the U.S. Patrick’s realtor in Spain (a Danish expat) was exceptionally helpful in navigating the process, he says, by introducing them to legal counsel in the country. His advice is to work with a reasonable attorney, since certain forms of residence visas are being abolished due to concerns about housing costs.
Housing Worries Due to Golden Visas
Portugal ended its golden visa last year after thousands of people took to the streets of Lisbon and other cities to protest skyrocketing rents and house prices. These come at a time when high inflation is making it even harder for people to make ends meet. “With the removal of nonhabitual residents in Portugal, and the increase of golden visa investment in Greece, our clients are starting to research other suitable countries to settle for their retirement,” says Ellie in an email. She asked that we use only her first name to protect her job at Praia Club, a company that helps people to immigrate throughout Europe. It’s used widely for destinations like Spain, Portugal, Italy, Greece, Cyprus, and Dubai. Portugal’s Non-Habitual Resident (NHR) special tax regime allows qualifying entrepreneurs, professionals, and retirees to enjoy reduced tax rates on Portuguese-source income and exemption on most foreign-source income for 10 years.
“In terms of visa options, we’re facing more difficulties. The government wants to receive qualified professionals or retired people who are willing to stay for a long time in the country,” says Giselle, who works in Praia Club’s legal team, in an email. She also asked that we use only her first name to protect her job. For example, three years ago the Portuguese consulates accepted Airbnb and Booking.com reservations as proof of accommodation.
“Today, for all the long-stay visas, which are longer than one year, it’s mandatory to have at least one year of rental accommodation or to buy your own house. Which means more investment and time before the visa application,” says Giselle. The requirements are getting more restrictive every year.
Bureaucratic Challenges
“We think the major challenge today is to face the bureaucracy and the stress involved in the visa process due to the increase in visa applications. We have changes in the law and on the directives every semester or year,” says Ellie. She adds that requirements are also common and differ by jurisdiction and consulate.
“But besides these difficulties, Portugal remains one of the most preferred countries to move abroad, and the good news is that these changes in the internal procedures means that the government is attentive to reduce these problems,” says Ellie. The immigration process for Italy, Greece, and Cyprus has its own challenges, too, especially if one manages them alone and from abroad, she says.
However, Louise Carr, the founder of movetospainguide.com, a company specializing in the Spanish Digital Nomad Visa, thinks the process is getting easier. Since launching in early 2023, the program has had 10,000+ successful applications. “Until then, it was very difficult for non-EU passport holders to come to Spain for work. There were lots of barriers,” says Carr. As Spain is a country with high unemployment and an excellent health service, it makes sense why these barriers exist. However, in the case of the digital nomad visa, the applicant’s employer or client must be located outside of Spain, which means that no jobs should be taken from Spanish citizens.
“Even though Spain has just modified (not yet abolished) the Golden Visa, that is a completely different kind of residency,” she says. “It was possible for golden visa holders to spend up to 182 days in Spain each year and avoid becoming a Spanish tax resident.” Digital nomad visa holders, on the other hand, must spend over six months in Spain each year, which means that they cannot avoid becoming tax residents.
For Burns, the Brit in Malaga, Facebook was the best resource for figuring out the ins and outs of the system. “I joined a group that was full of lawyers and people wanting to apply for the Spanish Digital Nomad Visa. There are several Facebook pages with information that simplifies all the important information you need. At first, I thought the process seemed very complicated, but it turned out to be much easier than I thought,” she says.
Enticing Options Beyond Europe
While Europe—especially Portugal and Spain—may be the most talked-about region in the press and social media, other continents also beckon digital nomads. South East Asia is also one of the most coveted destinations due to the low cost of living and ideal weather. People can live comfortably in Bangkok for just $1,400 monthly, including rent. Thailand’s digital nomad visa grants professionals up to 4 years of residency, but they must make at least $80,000 per year. With these stricter requirements, Thailand hopes to attract more affluent, highly skilled professionals.
Malaysia’s capital city, Kuala Lumpur, is considered one of the best destinations in Asia. The Malaysia digital nomad visa allows people to live in the country for up to two years. The Philippines also launched its digital nomad visa in June 2023, allowing applicants to live and work there for 12 months, with a possible extension for another year.
Effective April 1, Japan introduced a “Digital Nomad Visa” to qualifying foreign nationals to remotely work and stay in Japan for up to six months. It will be available to nationals of 49 countries, including the United Kingdom and the United States.
Giselle points out exceptionally favorable options in the United Arab Emirates. “Dubai offers visas for many different categories—it is also a very slick process. We can have someone’s residency permit approved and issued after just a two-week stay in Dubai.” Singapore also offers residency programs and tax benefits, as does Malaysia. “However, we do see that unless someone is relocating for professional purposes, the majority of emigrants are choosing to settle in Europe,” says Ellie.
Many North Americans are also choosing to settle in Panama and South America, due to a preferential tax position in those countries, making their Social Security stretch that bit further, says Ellie
The profusion of options for living and working abroad has propelled nomadic living as an empowering alternative to traditional life. More people are choosing to live outside the norm, and the trend doesn’t seem to be slowing down anytime soon.
