Costa Rica, Greece and 42 other countries with a digital nomad visa—the U.S. isn't one of them

As of May 2024, these countries offer digital nomad visas or similar schemes geared towards bringing in remote workers.

BigThink BigThink
May 15, 2024 - 21:07
0 43
Costa Rica, Greece and 42 other countries with a digital nomad visa—the U.S. isn't one of them

The U.S. job market has cooled off significantly since the "great resignation" brought on by the pandemic, but is in a relatively good place, according to recent reports. Still, it is harder for workers to find new jobs, which could be especially tough on recent college graduates.

According to a report from the National Association of Colleges and Employers, employers plan to hire about 5.8% fewer new college graduates from this year's class than they hired from the class of 2023.

It's why Vicki Salemi, a career expert at Monster, told CNBC, she suggests taking advantage of the flexibility currently being offered by companies and casting a wider net in your job search.

"In terms of the quality and quantity, they can pursue jobs beyond the constraints of a particular zip code," Salemi said.

Whether you're a recent college graduate entering the workforce or just looking for a change of scenery If you can land a job that let's you work from just about anywhere, a digital nomad visa in a country like Costa Rica or Greece might be just what you're looking for.

A digital nomad visa is a short-term permit that allows someone to stay in a country for an extended period of time and work remotely. The length of time a nomad can stay varies from place to place but most countries allow for six months to a year.

The biggest catch with a digital nomad visa is that you typically have to be either self-employed or working for an entity outside of the country in which you plan to stay.

And if you are an American living and working in another country and you make over the minimum amount required — which depends on your filing status — you must file a U.S. tax return, according to H&R Block.

The United States does not have a digital nomad visa, but does offer other visa options that might allow for someone to work in the country as a freelancer.

As of May 2024, the following countries are offering digital nomad visas or similar schemes geared toward bringing in remote workers.

Bermuda's digital nomad visa program runs for up to 12 months.

Kenwiedemann | E+ | Getty Images

Americas

1. Anguilla

Length of stay available: up to 12 monthsCost: $2,000 (per individual), families of up to four pay $3,000 with an extra $250 for each additional family memberMinimum income required: None indicatedApplication

2. Antigua and Barbuda

Length of stay available: up to two yearsCost: $1,500 per individual, $2,000 for couples and $3,000 for families of three or moreMinimum income required: $50,000 for each year of the programApplication

3. The Bahamas

Length of stay available: up to one year to either work or study remotelyCost: $25 application fee, $1,000 for individuals and families pay the same plus $500 for each dependentMinimum income required: None indicatedApplication

4. Barbados

Length of stay available: up to one yearCost: $2,000 for individual and $3,000 for familiesMinimum income required: $50,000 during the 12-month stayApplication

5. Belize

Length of stay available: up to six monthsCost: $500 per adult and $200 per childMinimum income required: $75,000 per individual or $100,000 if the person is applying with dependentsApplication

6. Bermuda

Length of stay available: up to 12 monthsCost: $275 application fee per personMinimum income required: No minimum indicated but it is noted you must "have substantial means and/or have a continuous source of annual income."ApplicationAdditional requirements: valid health insurance coverage

7. Brazil

Length of stay available: up to one yearCost: $290Minimum income required: $1,500/month or funds in the minimum amount of $18,000.ApplicationAdditional requirements: valid health insurance coverage for treatment in Brazil.

8. Canada

Length of stay available: up to six monthsCost: Not foundMinimum income required: None indicatedApplication

9. Costa Rica

Length of stay available: one year with the option to renew for an additional yearCost: $100 application feeMinimum income required: $3,000/month but up to $4,000 if applying with dependentsApplicationAdditional requirements: valid health insurance coverage

10. Colombia

Length of stay available: up to two yearsCost: not foundMinimum income required: at least 3 million Colombian pesos a month, or approximately $680 a month.ApplicationAdditional requirements: valid health insurance coverage

11. Curaçao

Length of stay available: up to six months, with a maximum stay of one yearCost: around $294 with no family bundle feeMinimum income required: not foundApplicationAdditional requirements: valid health insurance coverage and a return ticket equal to your stay once the visa has been approved

12. Dominica

Length of stay available: up to 18 monthsCost: $100 application fee, $800 single or $1,200 family visa feeMinimum income required: $50,000/annuallyApplication

13. Ecuador

Length of stay available: up to two yearsCost: not foundMinimum income required: at least three unified basic salaries per month for the three months prior to the visa applicationApplication

14. El Salvador

Length of stay available: up to two years with the option to renew for two more yearsCost: $2,825 with renewal fee of $450Minimum income required: $1,460/monthlyApplication

15. Grenada

Length of stay available: 12 months with the option to renew for another 12 monthsCost: $1,500 per person, $2,000 for a family of four, $200 for each additional dependentMinimum income required: $37,000/annuallyApplication

Mexico's version of the digital nomad visa is called the temporary resident visa.

John Coletti | The Image Bank | Getty Images

16. Mexico

Length of stay available: up to four yearsCost: starts at $271Minimum income required: over $4,405 a month during the past six months or an average monthly bank balance of $75,082 over the previous 12 monthsApplication

17. Montserrat

Length of stay available: one yearCost: $500 for individual, $750 for family bundle fee with up to three dependents. Additional applications are $250 each.Minimum income required: $70,000/annuallyApplicationAdditional requirements: valid health insurance coverage

18. Panama

Length of stay available: nine months with a max of 18 monthsCost: $300Minimum income required: $3,000/monthly or $4,000/monthly per familyApplicationAdditional requirements: valid health insurance coverage

19. Saint Lucia

Length of stay available: up to one yearCost: $70Minimum income required: none foundApplication

20. Uruguay

Length of stay available: six months with the option for a six-month extensionCost: around $10Minimum income required: none foundApplication

Europe

21. Albania

Length of stay available: 12 monthsCost: not foundMinimum income required: not foundApplication

22. Croatia

Length of stay available: up to one year with the option to reapply after six monthsCost: not foundMinimum income required: about $3,091/month or $37,091 for the year already in a bank accountApplicationAdditional requirements: valid health insurance coverage

23. Cyprus

Length of stay available: up to one year with the option to renew for two more.Cost: $150.78= $75.39 issuance and renewal fee and $75.39 registration to the Aliens' RegistryMinimum income required: $3,769/monthlyApplication

24. Czech Republic

Length of stay available: up to one yearCost: none foundMinimum income required: 1.5 times the average gross annual salary announced by the Ministry of Labor and Social AffairsApplication: reach out to digitalnomad@mpo.cz

25. Estonia

Length of stay available: up to one yearCost: The state fee for a D visa (long stay) is $108 and for a C visa (short stay) is $86Minimum income required: $4,846/monthApplicationAdditional requirements: valid health insurance coverage, pass a background check, application must be submitted in person at an Estonian embassy or consulate

26. Georgia

Length of stay available: up to one yearCost: not foundMinimum income required: not specifiedApplication

27. Greece

Length of stay available: one year with the option to extend for a maximum of three yearsCost: $81 plus an administrative fee of $162 for each family member applying with you.Minimum income required: $3,769. For each spouse or partner, the minimum financial requirement will go up to $4,523. Additionally, for each child the requirement will increase by $565. Application: Submitted at your local Greek consular authority. You can submit your request via email or registered letter.

To obtain a digital nomad visa in Hungary, applicants need to go to a local consulate or embassy.

Sasipa Muennuch | Moment | Getty Images

28. Hungary

Length of stay available: up to one year with the option to extend for another yearCost: starts at $118Minimum income required: $3,230/month with that amount being the minimum for six months before the applicationApplication: Make an appointment with your local Hungarian embassy or consulateAdditional requirements: valid health insurance coverage

29. Iceland

Length of stay available: up to 180 daysCost: $87Minimum income required: $7,151/month or $9,296 if you apply with a spouse or cohabiting partnerApplication: can only be submitted in paper form at your local Iceland embassy or consulate

30. Italy

Length of stay available: up to one year with the option to renewCost: not foundMinimum income required: three times the minimum level required for exemption from participating in healthcare costs. That amounts to just under €28,000 annually or $30,051 USD.Application: Book an in-person appointment at your local Italian embassy or consulate

31. Latvia

Length of stay available: one year with the option to renew for another yearCost: $65-$130Minimum income required: not foundApplicationAdditional requirements: valid health insurance coverage, documents confirming the expected place of residence in Latvia

32. Malta

Length of stay available: one year with the option to renewCost: $323 application fee per person, $30 fee for issuance of residency cardMinimum income required: $45,233/annuallyApplication

33. Norway

Length of stay available: two yearsCost: $646Minimum income required: $38,468/annuallyApplication

34. Portugal

Length of stay available: one year with the option to renewCost: $89 and a resident permit fee of $78Minimum income required: must be at least the Portuguese minimum wageApplication: Apply at your Portuguese local embassy or consulateAdditional requirements: valid health insurance coverage

35. Romania

Length of stay available: one year with the option to renew for another yearCost: not foundMinimum income required: $3,985/monthApplicationAdditional requirements: valid health insurance coverage

36. Spain

Length of stay available: one year with the option to renewCost: not foundMinimum income required: 200% of the monthly Spanish minimum wage, which is about $2,700/month with the amount increasing if applying with family membersApplicationAdditional requirements: valid health insurance coverage

Middle East and Asia

37. Malaysia

Length of stay available: up to 12 months with the option to renewCost: $211 for a single applicant, $105 per additional dependent if applying as a familyMinimum income required: not foundApplicationAdditional requirements: valid health insurance coverage

38. South Korea

Length of stay available: one year with the option to extendCost: $45 application feeMinimum income required: $65,000/annuallyApplication

Turkey created a website for applicants to apply for the visa with ease.

Matteo Colombo | Digitalvision | Getty Images

39. Turkey

Length of stay available: not foundCost: not foundMinimum income required: $36,000/annuallyApplicationAdditional requirements: visit a Turkish visa center or consulate to receive the actual visa stamp once approved

40. United Arab Emirates

Length of stay available: one yearCost: not foundMinimum income required: $3,500/monthApplication

Within the UAE, Dubai has its own separate virtual working program similar to the UAE's remote work visa. In order to apply, applicants need to have valid health insurance and earn a minimum salary of $5,000 per month.

Africa

41. Mauritius

Length of stay available: one year with the option to renewCost: freeMinimum income required: not specifiedApplicationAdditional requirements: valid health insurance coverage

42. Cape Verde

Length of stay available: six months with the option to renewCost: $22 per person and $37 airport feeMinimum income required: $1615 average bank balance in the last six months or $2908 for a family.Application

43. Seychelles

Length of stay available: one yearCost: $48 application feeMinimum income required: not specifiedApplicationAdditional requirements: valid health insurance coverage

44. Namibia

Length of stay available: six monthsCost: $124 visa paymentMinimum income required: $2000 for a single applicant, $1,000 with an accompanying spouse, $500 per accompanying child per monthApplicationAdditional requirements: valid health insurance coverage

Conversions to USD were done on May 13, 2024, using OANDA conversion rates. All amounts are rounded to the nearest dollar.

Want to make extra money outside of your day job? Sign up for CNBC's new online course How to Earn Passive Income Online to learn about common passive income streams, tips to get started and real-life success stories. CNBC Make It readers can use special discount code CNBC40 to get 40% off through 8/15/24.

Plus, sign up for CNBC Make It's newsletter to get tips and tricks for success at work, with money and in life.