Current:Home > MarketsMoving abroad can be expensive: These 5 countries will 'pay' you to move there -Summit Capital Strategies
Moving abroad can be expensive: These 5 countries will 'pay' you to move there
View
Date:2025-04-12 02:50:28
- AI-assisted summary
- Several countries are offering financial incentives to attract residents, particularly to revitalize rural areas.
- These incentives often come with stipulations, such as starting a business or renovating a property.
- Applicants should carefully consider the requirements and lifestyle implications before relocating.
If the idea of packing up your bags and moving to a new country seems like a dream come true, then you're in luck.
Moving abroad can be a lofty, often expensive process, but many places offer enticing programs that offer money to foreigners to move there. In recent years, programs such as grants to settle in Tuscan villages and Mediterranean islands selling homes for less than the price of a cup of coffee have presented tempting opportunities for aspiring expats. For many vacation-deprived Americans, they sound like the perfect anecdote to the hustle and bustle of the U.S.
It's worth noting that chosen applicants for these programs aren't exactly getting paid to live there but rather are given funding as part of their condition to relocate. "Programs offering financial incentives to move abroad, like rural Italian villages paying people to restore old homes or regions in Spain offering grants, are fantastic in concept," said Michelle Garabito, an expat and founder of the relocating community The Lux Nomads. "They’re great marketing tools designed to draw attention and revitalize areas that may be underpopulated or economically struggling."
As tempting as these offerings may seem, Garabito warns people to have "realistic expectations" and consider if their lifestyle aligns with the program's goals, which are usually aimed at reinvigorating rural, remote areas with working professionals. "While charming and picturesque, they may lack the conveniences and infrastructure that some expats are accustomed to," she said. Looking into a digital nomad visa might be a more sensible approach.
Many programs are also highly selective and have rigid requirements, so only a few may end up eligible. You may also still need to get the appropriate residency or visa to even live there.
Enjoy your worry-free vacation:Best travel insurance policies
"That said, if someone is already interested in moving abroad, programs like these can be an excellent starting point," she added. "They provide an opportunity to experience a new culture while potentially saving money or contributing to a meaningful cause."
Should I get a second passport?It can be 'a rigorous task,' but it offers something visas can't
Here are some of the countries that will pay you to move there.
Spain
For wine and history lovers, the remote Spanish region of Extremadura launched a program in late August for 200 eligible digital nomads who work in tech to receive up to €15,000 (about $15,744) if they move to one of its rural villages for at least two years. The grants were aimed at helping expats "speed up" their relocation, like by acquiring accommodations.
Chile
Outdoor enthusiasts who have an entrepreneurial spirit can apply for Start-Up Chile, an accelerator program that offers grants from 15 million Chilean pesos (about $15,150) to 75 million Chilean pesos (about $75,750) for those who want to bring their start-up business to the South American country.
Ireland
In 2023, Ireland launched a scheme called "Our Living Islands," meant to revitalize and preserve the communities of 30 rural islands off its western coast. Eligible candidates can receive up to €84,000 (about $88,179) in funding to renovate "derelict properties," although to live in the peaceful villages, they still need to follow normal immigration policies.
"As a result of delivering this policy, we will see more people living on the islands and more people working on our islands, with good career prospects, regardless of where their employer is headquartered,” Minister for Rural and Community Development Heather Humphreys said in a statement.
Japan
Japan's Regional Revitalization Corps is a program that's been working since 2008 to fix rural depopulation by recruiting expats to move to small towns and revitalize its declining populations. Those Japanese citizens of foreign descent are "hired" to move to the countryside for a salary of around 3 million yen ($19,514) to resettle in a rural town and start a business, like opening a cafe. The program is highly selective, requiring fluency in Japanese and assimilation into the culture.
Italy
Following the recent U.S. presidential election, the ancient town of Ollolai on the Mediterranean island of Sardinia recently announced a program called "Live in Ollolai" for Americans who want to leave the country. The town is surrounded by peaceful forests, so you won't be by the famous beaches that Sardinia is known for. While these potential expats aren't really given money to relocate there, the program is offering homes for as little as €1 (about $1.05) with assistance for navigating the moving process.
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
veryGood! (29)
Related
- This was the average Social Security benefit in 2004, and here's what it is now
- A Turkish parliamentary committee resumes debate on Sweden’s NATO bid
- Whisky wooing young Chinese away from ‘baijiu’ as top distillers target a growing market
- Kourtney Kardashian's Photo of Baby Boy Rocky Proves Christmas Is About All the Small Things
- Behind on your annual reading goal? Books under 200 pages to read before 2024 ends
- Domino's and a local Florida non-profit gave out 600 pizzas to a food desert town on Christmas Eve
- Neel Nanda, comedian who appeared on 'Jimmy Kimmel Live' and Comedy Central, dead at 32
- A guesthouse blaze in Romania leaves 5 dead and others missing
- Have Dry, Sensitive Skin? You Need To Add These Gentle Skincare Products to Your Routine
- Horoscopes Today, December 23, 2023
Ranking
- Opinion: Gianni Infantino, FIFA sell souls and 2034 World Cup for Saudi Arabia's billions
- Minimum-wage workers in 22 states will be getting raises on Jan. 1
- Student loan payments restarted after a COVID pause. Why the economy is barely feeling it.
- AP sports photos of the year capture unforgettable snippets in time from the games we love
- Newly elected West Virginia lawmaker arrested and accused of making terroristic threats
- NFL playoff picture: Cowboys sink as Dolphins, Lions clinch postseason berths
- 4 young children and their mother were killed in their French home. The father is in custody
- 6-year-old boy traveling to visit grandma for Christmas put on wrong Spirit flight
Recommendation
Former Syrian official arrested in California who oversaw prison charged with torture
‘Major’ Problem in Texas: How Big Polluters Evade Federal Law and Get Away With It
1 dead, 2 seriously injured in Colorado mall shooting, police say
Amazon, Starbucks worker unions are in limbo, even as UAW and others triumph
Tree trimmer dead after getting caught in wood chipper at Florida town hall
Morocoin Trading Exchange: What is Inscription in 2023? Why is it Popular?
African Penguins Have Almost Been Wiped Out by Overfishing and Climate Change. Researchers Want to Orchestrate a Comeback.
Morocoin Trading Exchange: Detailed Discussion on the 2024 STO Compliant Token Issuance Model.