With the rise of teleworking and new technologies, which also accelerated with the pandemic, different governments have introduced this type of travel permits for foreign citizenswho generally earn in dollars or euros, can settle in Latin American cities to live comfortably and with a better quality of life.
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Governments have seen that the phenomenon of digital nomads is a way to stimulate the entry of foreign currency, promote tourism, boost the economy and, in some cases, attract young people for generational change.
According to MPI, increasing remote work practices “could help revive declining regions and could provide an opportunity to offset lost revenue as a result of the decline in tourism during the pandemic.”
(Read: The anatomy of the digital nomad: who are they and what do they do?)
According to figures from Aribnb, one of the platforms preferred by these nomads to rent housing, in 2021 guest spending “helped generate 4.5 billion dollars in salaries, wages and other labor income in Latin America and the Caribbean”.
In the case of Latin America, many “nomads” decide to settle in desirable tourist cities to take advantage of the quality of life that these places offer. “For the right type of professional, remote and flexible working can be liberating. From my own experience, varying the work environment can help the creative process (…).”, Roger Darashah, partner director of Latam Intersect, explains to this newspaper about why this phenomenon has become so popular.
According to the specialized portal Nomad List, Buenos Aires, Mexico City, Medellín, Lima, São Paulo and San José, are the most popular cities in the region for nomads. However, this phenomenon has another side: the increase in rental costs in these cities. With a new tenant willing to pay double or triple, many local citizens have had to leave their homes.
In an article by the Bloomberg agency, which cites data from Navent, in the last 12 months, São Paulo, for example, accumulated an 11.62% increase in rental prices. Mexico City, 13.94%; Buenos Aires, 166%; Lima, 3.63% Panama City, 10.9%.
(Read: The drama behind the touristification that Medellín faces due to the 'boom' of visitors)
How do digital nomad visas work in these destinations?
The MPI, which lists one by one the requirements that these countries ask for digital nomads, specifies that, in general, to apply for these visas you need to demonstrate having a permanent job. and that the applicant has a stable salary each month. These permits are granted, in most cases, for a period of six months to one year, which can even be extended..
For Argentina, for example, in mid-2022, the Argentine Government launched a program called “Digital Nomads.” This permit grants interested parties a visa for 180 days (six months) to live, work remotely and get to know the country. The visa is also extendable for another six months for those who decide to stay longer.
The main destination for nomads is Buenos Aires, a city that has accommodations that have a seal to indicate to remote workers that they have what they need to telework there: 'co-working' spaces and high-speed internet, for example.
On the other hand, in Costa Rica, a destination mostly preferred by US citizens, the Government's main requirement is that the person demonstrate that they have an income of more than $3,000 or $4,000 if they are moving to the country with a person who depends on them. him (such as children). In this country the permit is granted for one year with the possibility of extension. Additionally, those who have this visa can apply for tax benefits and avoid double taxation of taxes.
In the case of Mexico, the visa is not directly called 'digital nomad'. The authorities of this country have a 'Temporary Residence Visa' that allows foreigners to remain on Mexican soil for a period of 180 days and no longer than four years. In addition, they also request a document that certifies income necessary to live in the country..
These three examples show that these visas have common factors that are generally repeated in all countries. In fact, the MPI establishes a series of broad features that the rest of the countries share when issuing these visas. In that sense, the Institute encompasses them in these keys: that nomads be allowed to reside and work remotely for an employer based outside the country and the possibility of bringing their family members. For this, the MPI says that these governments request in exchange proof that you have sufficient salary to cover expenses and that your stay does not exceed an established time limit.
In any case, the Institute says that, although this is a phenomenon that is accelerating year after year and that can bring economic benefits, “the authorities (of each country) will have to weigh the costs and benefits of such admissions.”
“Digital nomad visas offer governments the opportunity to promote their countries as (destinations) open to remote workers that connect them to broader economic priorities. However, these may be suitable for everyone. Creating this type of customized program must be weighed against other factors, the costs of establishing and administering a new immigration pathway.”
INTERNATIONAL EDITORIAL
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