• Portugal just released the requirements for its new “digital nomad visa” launching Oct 30.
  • Remote workers who make at least four times the local minimum wage can apply. That amounts to about $2,750 a month.
  • Recipients can live and work in Portugal for one year, or apply for residency and stay longer.

Portugal recently released the requirements for its highly-anticipated “digital nomad visa,” allowing remote workers who make four times the national minimum wage to live and work in the picturesque European nation. That calculates to about $2,750 a month.

Starting Oct 30, 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.

You can apply at a Portuguese Consulate in your home country, or Portugal’s immigration agency, Serviço de Estrangeiros e Fronteiras. On top of showing proof of income for the last three months, applicants must submit tax residency documents and a contract of employment (or evidence of self-employment).

One of the program’s most significant selling points is that recipients can travel visa-free throughout the Schengen Area, a region containing 26 European Union member countries where travelers can move freely without dealing with border control.

Portugal has already seen an influx of foreign residents since the pandemic, many of whom have used the D7 visa, or “passive income visa” to set up shop in the country.

One of the most affordable programs of its kind, the D7 visa requires applicants to make only €7,200 — or about $7,011 — per year to qualify. But unlike the digital nomad visa, the income must be the result of passive investment streams, such as real estate or equity in a company, as opposed to a monthly salary.

The popularity of Portugal among remote workers is due to several reasons, including the low cost of living, mild weather, an abundance of co-working spaces, connections to major European cities, and the country’s fluency in English,  the head of an investment migration firm with a strong presence in the Portuguese market, told Insider.

The Portuguese capital’s sunny climate and low cost of living have led to an influx of residents who are now able to log into work from anywhere.

“Lisbon offers the advantages of city living and the benefits of being in the European Union.”

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The evaluation concluded that Lisbon is a “sophisticated city”, which stands out for the quality of its universities, infrastructure, and security, for its access to private capital, for having a stable local government/administration, and for being a sustainable city.

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“Initiative offers landlords the option of renting their properties to the city for a minimum of five years”

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“In the end, this is not a miracle. This is work and organization,” … “We follow a strategy. In Portuguese, we say this: ‘If you don’t know where to go, no wind is favorable.’ “So we knew where to go and we took advantage of the two weeks ahead of us to prepare.”

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“We have a moment now, while we sit on collective pause, to regroup what we’d like our lives to look like and to connect the dots between our ideal lifestyle and the top choices for the best places to think about spending time and money overseas.”

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They will be free to use country’s health service, welfare system, bank accounts, and work and rental contracts

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Hot Market

Portugal is now the eurozone’s hottest property market seven years after introducing golden visas

Still Cheap

Lisbon home prices remain one of the lowest among western European capitals

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The country is attracting foreign investors and migrants thanks to its perceived open attitude to foreigners and a low crime rate.

“I wouldn’t dream of doing it back home,” said the Brazilian businessman, who was robbed and assaulted several times while living in São Paulo. “In Lisbon, you don’t have to keep looking over your shoulder.” Says Eduardo Migliorelli decided to move his family to Portugal the evening he discovered he could walk the few hundred meters from a restaurant to his hotel without fear of being attacked.

“Portugal is the most open, tolerant and liberal society I have ever lived in,” said Chitra Stern, a Singaporean of Indian descent who moved to the Algarve in the south of the country in 2001 to look for business opportunities.

Itay Kastel, an Israeli, moved with his family to Portugal in 2016 to expand the property business he had been running for 10 years in Angola. “We’re really happy with our decision. The atmosphere here is embracing and helpful,” he said.

Andy Yacoub, a Londoner, chose Portugal to start a new life with his Mexican wife and young son, obtained Portuguese residence permits for the family within a few weeks and found local banks happy to lend on his existing properties so he could expand his portfolio. “In Portugal, you are welcomed into the community,” he said. “We feel at home here.”

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“It was a chance to live in a tax haven that isn’t an island in the Caribbean,”

“We’re in Europe, in a country that has been going through a revival over the last few years.”

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