A recent study by Savory & Partners revealed that Digital Nomad Visas are sparking an unprecedented migration boom. The straightforward application process and lenient requirements of digital nomad visas have made them easily obtainable. Countries like Portugal and Spain, known for their excellent infrastructure, reliable internet connection, and exceptional standard of living, are attracting a growing number of digital nomads on a daily basis, as stated by experts at Savory and Partners, a Dubai-based firm specializing in citizenship and residency through investment.
A recent study referenced by the company indicates that there are 16.9 million digital nomads travelling the world. This marks a significant 162% increase from 2019, just four years ago:
- Portugal introduced its digital nomad visa in October of 2022, leading to a surge in applications. While the government has not disclosed the total number of applications received, Portugal’s Labour Minister revealed that the country approved 550 applications within the initial six months.
- Following the launch of its visa in September of 2021, Greece received 2,918 applications and approved an impressive 1,693 applicants. Although the government has not released updated statistics, the initial response suggests sustained high interest.
- Germany has issued a total of 3,638 visas within one year of introducing its visa in 2018, showcasing substantial success.
- According to Residency Malta, the entity responsible for the digital nomad visa, 1,041 visas have been issued to date, with an average approval rate of 78%.
- Croatia, as one of the pioneering countries to introduce a dedicated digital nomad visa in early 2021, has approved 680 applications, while 672 are still pending approval.
Digital nomads often rely on visa-free access or visas to stay in countries for short periods before moving on. However, digital nomad visas offer a sense of security and stability that perfectly complements their lifestyle, allowing them ample time to fully experience the country they are in before moving on to the next.
Digital Nomad Visas Beyond Europe
It’s not just Europe but even Barbados’ digital nomad visa, dubbed the Welcome Stamp, has been doing outstandingly well, receiving a total of 3,511 applications between 2020 and 2022.
Savory & Partners press statement
The surge in digital nomad visa applications comes as no surprise due to their simplicity, rapid processing times, and lack of business establishment or investment requirements. Portugal’s visa, for instance, necessitates a monthly income of €3,040, while Spain’s sets the threshold at €2,160.
Savory & Partners serves as an accredited agent for various governments offering citizenship by investment, with a wide-ranging presence across 20 jurisdictions, including Europe. The company has successfully facilitated second passports for over 4,000 citizens.