14/12/2020
How do I choose the remote work location that’s best for me?
COVID-19 has propelled the digitalisation of the workplace and the rise of remote work. Capitalising on the appeal of its advanced infrastructure and digital connectivity, Dubai recently launched a new visa programme to encourage overseas remote working professionals (and their families) to relocate to Dubai, while continuing to work remotely for their overseas employers.
The new remote worker scheme stipulates certain eligibility requirements around income and health insurance coverage, but those who qualify for the visa are eligible for Dubai’s no-tax regime. Even more recently, Cayman Islands has announced it will soon be offering a 24-month visa for remote workers.
While there are substantial eligibility requirements on earnings (USD 100,000 per year for single employees, up to USD 180,000 for a family), the program does waive income taxes for the visa eligibility period. These developments follow similar moves by other countries eager to attract remote workers, like the 12-months Barbados Welcome Stamp.
Assessing the best locations for Remote Worker Visas.
With the addition of Iceland (announced Nov 2020), there are now 17 locations that offer visa programs targeting digital nomads and remote workers, including Antigua and Barbuda, Aruba, Bahamas, Barbados, Bermuda, Cayman Islands, Curacao, Czech Republic, Dubai U.A.E., Estonia, Georgia, Germany, Iceland, Mauritius, Mexico, Portugal, and Spain.
The goal of all these visa programmes is to attract foreign talent to work and contribute to the local economy. Waiving local income taxes is commonly offered by many of these remote worker visa programmes as an incentive to attract applicants to the programme.
With a growing list of countries offering remote work visas, how do you begin to assess the available options? For some, lifestyle is most important (particularly if money isn’t an issue). For others, financial well-being is at the top of the list.
Using our Global 150 city ranking database, we took a closer look at some of the countries offering remote work visas to see how they stack up:
Please note: The Cost-of-Living ranking ranges from 1% to 100%, with 100% being the most expensive cost-of-living. All information based on AIRINC’s Global 150.
Which countries offer the best quality lifestyle for remote work?
If the quality of your lifestyle is your main goal, don’t pack your bags for those Caribbean islands yet!
AIRINC’s Global 150 rankings offer a surprising, perhaps controversial, view on which of the countries offering remote work visas offer the best lifestyle:
While scenic landscapes and pristine beaches can provide great memories and Instagram moments, the reality is that a good quality lifestyle over the longer-term depends on fast, reliable digital connectivity and good infrastructure (including environmental management), as well convenient access to quality health care, education, housing, and goods & services.
While scenic landscapes and pristine beaches can provide great memories and Instagram moments, the reality is that a good quality lifestyle over the longer-term depends on fast, reliable digital connectivity and good infrastructure (including environmental management), as well convenient access to quality health care, education, housing, and goods & services.
Looking at our report, Zurich in Switzerland comes first for overall attractiveness, second for Lifestyle and third for Financial. In fact European cities make the top three for lifestyle with Prague topping the list and Vienna third. The Caribbean locations, however, score at the tail end of our remote work location lifestyle rankings starting in the late 60’s onwards.
Interestingly Bahrain tops the list of our Financial ranking but a disappointing 100 on the lifestyle rank. The Cayman Islands unsurprisingly comes second and Zurich ranked third.
Choosing the best location is ultimately a subjective exercise. But if you are seriously considering applying for a remote work visa in these or other locations, evaluating the financial and lifestyle impact is a first step to making the right choice!
