Pros & cons of a digital nomad - Deepstash

Pros & cons of a digital nomad

Pros

  • A digital nomad can enjoy a long vacation while maintaining a stable source of income.
  • Due to their remote nature and quick responses, many of the destinations are practically safe havens from coronavirus.

Cons

  • The life of a digital nomad isn't for everyone. It requires a job that's remote and flexible in terms of when you clock in.
  • Bouncing between countries can be stressful and expensive.
  • While moving around can offer opportunities to meet new people, it can strain existing relationships.

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MORE IDEAS FROM Countries Offering Digital Nomad Visas

The world has changed substantially due to the pandemic. Tourism-dependent countries continue to suffer economic losses as people remain unwilling to travel.

Many organizations have found that remote work is successful and are now planning to allow their staff to continue operating outside of the office. To help fuel tourism, countries now offer what has become known as digital nomad visas.

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  • Montserrat. The British Overseas Territory’s Montserrat Remote Work Stamp is valid for one year.
  • Norway. The Independent Contractor Visa provides two years of residence within Norway.
  • Portugal offers an independent workers visa valid for one year and can be renewed twice.
  • Seychelles. The Seychelles Workcation program is available from any of the 115 islands that comprise the archipelago from one month up to a year.
  • Taiwan. The Taiwan Employment Gold Card is a four-in-one card, combining an open-ended work permit, resident visa, alien resident certificate and reentry permit.

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  • Cabo Verde. The Cabo Verde Remote Working Program is available to remote workers from Europe, North America, the Community of Portuguese Speaking Countries (CPLP), and the Economic Community of West African States (CEDEAO). The visa is valid for six months but can be renewed for another six months.
  • The Cayman Islands. The Global Citizen Concierge Program targets the wealthier remote worker. The minimum salary requirement per annum for a single person is $150,000 USD.
  • Costa Rica. The Rentista offers a two-year remote work opportunity.
  • Croatia. Temporary stay is available for up to one year.

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  • Anguilla. The Beyond Extraordinary Anguilla program allows digital nomads to reside for up to 12 months.
  • Antigua and Barbuda. Nomad Digital Residence (NDR) is a long-stay visa program for remote workers for two years.
  • The Bahamas. The Bahamas Extended Access Travel Stay (BEATS) enables digital nomads to work remotely from any of the 16 islands for one year.
  • Barbados. The Barbados Welcome Stamp allows visitors to work remotely for up to one year.
  • Bermuda. The Work From Bermuda Certificate enables digital nomads to work remotely for 12 months.

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A digital nomad lives a nomadic lifestyle using telecommunications technology to work remotely outside their country. 

Entering a country as a tourist generally doesn't permit the traveller to work while living there. However, a digital nomad visa gives someone the legal right to work remotely while living away from their country of permanent residence.

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  • Germany's residence permit is available to self-employed workers for three months, but this can be extended up to three years.
  • Iceland. The long-term visa for remote workers program is available to any country that doesn't require a visa to travel to Iceland.
  • Malta. The Nomad Residence Permit allows digital nomads for up to one year.
  • Mauritius. The island nation's Premium Travel Visa offers one year of remote working and can be renewed.
  • Mexico. Mexico's Temporary Resident Visa is targeted toward (but not restricted to) Canadians. They can work for 180 days to four years.

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  • Curaçao. This island offers the @HOME program, available for remote workers for six months but can be extended for another six months.
  • The Czech Republic. For this visa, Zivno, applicants must first receive a trade license for one of the jobs on a list in addition to their remote work.
  • Dominica provides an 18-month Work In Nature (WIN) Extended Stay Visa for digital nomads.
  • Estonia. The official Digital Nomad Visa allows remote workers to remain in the country for up to one year.
  • Georgia. The Remotely From Georgia program allows digital nomads to work within the state for one year.

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RELATED IDEA

The Travel/Tourist Visa

Travel visas allow the bearer to enter a foreign country for touristic and leisure purposes only and stay for a predetermined amount of time.

These visas do not entitle the holder to work or engage in any business activities in the host country.

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Setting your rental budget

Properly managing your finances abroad will have a direct and positive impact on your experience. 

The majority of your funds will most likely go on rent. Nowadays, it isn’t uncommon for people to spend around 40% of their monthly income on rent and that’s why, when looking for a home, you need to have clear figures in mind.

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