While the digital nomad visa has been around for over two years now, Portugal has only just started to promote the visa. With its relaxed tax laws, great food and relatively affordable cost of living; Portugal is the place to move for digital nomads.
But why is the digital nomad visa trending now? Is there anything else to consider when choosing where to start your adventure on the open road?
Let’s take a look at Portugal; why the digital nomad visa is trending now more than ever and see if the lifestyle would be suitable for you.
What is a digital nomad visa?
A digital nomad visa is a visa that lets you live and work in another country without the need to actually move there. You can get your own apartment and set up your own business within the countries borders. You can live anywhere, but still have a base to work from within their borders.
Digital nomads are entrepreneurs who have found a way to run their businesses remotely; and need an easier way to move between countries as they travel for work. Countries based in Europe, like Portugal, are all offering this type of visa in order to attract more entrepreneurs and startups looking for a place to call home.
Why are more countries offering it?
There is a growing desire by some countries to offer digital nomad visas. Since it helps fill low-season gap in tourism-reliant destinations. In addition, many people now work remotely or online, so the visa is a success; all these European countries will benefit from the additional income.
What are the benefits?
A nice perk of this visa is the opportunity to live in another country for an extended period of time; instead of settling down to just one place. After receiving this type of temporary residency visa, it is possible to try for permanent residency; and live there indefinitely as long as you love it. If you get bored of the one country you visit, you can take advantage of 26 different countries within the Schengen area.
Since this visa is temporary, you aren’t fully committing to a new country. So you get to experience life in a new place and if you don’t enjoy it, you can move on.
How can I get one?
Visas can be applied for online, but we don’t recommend this solution if you don’t know where to begin when it comes to relocating from one country to another. You could develop tax problems, which can be extremely frustrating when you’re trying to enjoy life in a new country.
For these reasons, we suggest that you schedule a free 30-minute consultation with our lawyer, who can explain to you how the digital nomad visa works, what information is needed, and where life could lead after the temporary visa ends.
To surmise, digital nomads should relocate to Portugal.
There are many things to explore in Portugal, from the capital Lisbon, where digital nomad events are held regularly. To Porto, where you can live among the locals and blend in. It’s easy to live, work and play wherever you are in the country. Thanks to low living costs, mild weather, abundant co-working spaces, connections to other European cities, and the country’s fluency in English; Portugal is the place to be.
How RHJ Accountants can help
We recognise more than ever that individuals and businesses from the UK and other countries may be globally mobile. We aim to make you aware of the tax-efficient opportunities, available tax relief and structure finances for life at home and abroad.
Our international team of specialists operate from offices in the UK and Portugal. We work together synergistically to provide tax efficient solutions to our clients to help them grow their business whilst keeping tax liabilities to a minimum.
Get in touch with us today to find out more, or to make use of our services.