As of Oct. 22, eligible digital nomads and distant employees can transfer to Colombia in the event that they meet a single, easy situation: they have to show they earn as little as $684 per thirty days.
This quantity is nicely beneath the estimated common annual minimal wage of $1,256.70 in the USA. Different visas require candidates to make greater than $70,000 A 12 months.
To use, foreigners should earn a mean of $22.80 a day, which is considerably lower than the quantity required by different international locations supporting this development.
As compared, Costa Rica needs candidates to display a month-to-month earnings of at the very least $3,000, which is $2,316 greater than Colombia’s rather more modest requirements.
In Europe, maybe the preferred continent for long-term vacationers due to its unprecedented cross-border connections, Croatia has set a minimal month-to-month restrict of $2,600, whereas Malta has raised the bar even larger, requesting candidates to make a complete of $3,063.39 per thirty days. Different examples embody:
- Montserrat – Minimal $70,000 a yr
- Dubai – Minimal $60,000 a yr
- Barbados – Minimal $50,000 a yr
- Estonia – Minimal $1,302 per thirty days
- Romania – Minimal $4,170 per thirty days
As you possibly can see, Colombian visa necessities are a lot simpler to adjust to than these of island international locations or Europe.
In contrast to different international locations which have brazenly discouraged low cost journey to draw large buyers and big-spending vacationers, the Caribbean republic hopes to draw backpackers forged apart by Europe by eradicating the monetary hurdles.
Different guidelines and situations
As a result of the system is simply debuting within the fall, it’s unknown what different guidelines might apply exterior the minimal earnings. Digital Nomad Visas are usually issued upon proof of:
- A legitimate passport that doesn’t expire through the non permanent keep.
- Proof of enough monetary means
- Revenue should come solely from overseas
- Medical insurance during the deliberate keep
- A prison report verify