Portugal’s special visa is open for remote workers earning $2,750 monthly

Portugal is now officially establishing a one-year “digital nomad” visa that is targeted at remote workers, so if you’ve been yearning to travel, that’s good news. 

 Cities in Portugal like Lisbon and Porto, to the spectacular beaches of Albufeira and the lush island life of Madeirã, it’s easy to see why Portugal is home away from home. 

About the digital nomad visa  

 The requirements for Portugal’s much-anticipated “digital nomad visa,” allowing remote workers earning four times the national minimum wage to live and work in the country was recently released, which is about $2,750 per month. 

 This will commence from Oct 30, when remote workers can apply for either a temporary stay visa of up to one year or a residency permit that can be renewed for up to five years. 

 An application can be made through a Portuguese Consulate in your home country or through Portugal’s immigration service, Servio de Estrangeiros e Fronteiras. In addition to proof of income for the previous three months, applicants must provide tax residency documents and a contract of employment (or proof of self-employment). 

 One of the main benefits of the program is that those who qualify can travel visa-free in the Schengen Area, which consists of around 26 European Union member states and allows for unrestricted movement without border checks. 

 Since the pandemic, Portugal experienced a rise in the number of foreign residents, many of whom have settled there using the D7 visa, sometimes known as a “passive income visa.” 

 However, unlike the digital nomad visa, the income from the D7 visa must come from passive investment streams, such as real estate or stock in a company, rather than a monthly salary. 

Why Portugal 

 Portugal is a popular destination for remote workers for a variety of reasons, including its English proficiency, low cost of living, pleasant climate, a large supply of co-working spaces, connections to other major European cities, and low cost of living. 

 Asides from digital nomads, even wealthy Americans have been applying for citizenship or residency in foreign countries and the figures have skyrocketed over the past three years as US billionaires, tech entrepreneurs, and celebrities looking to create a “plan B” for their families, multiple investment migration firms told Insider.