Savory & Partners: Digital Nomad Visas Sparking a Migration Boom

DUBAI, UAE, Dec. 6, 2023 /PRNewswire/ -- The simplicity and lax requirements of digital nomad visas have made them easily accessible, and countries like Portugal and Spain, which have excellent infrastructure, great internet connection, and an outstanding standard of living, draw in more digital nomads by the day, according to experts at Dubai-headquartered citizenship and residency by investment advisors Savory and Partners.

A recent research quoted by the company estimates that there are 16.9 million digital nomads roaming the globe. This is a whopping 162% increase from 2019, just four years earlier.

As soon as Portugal introduced its digital nomad visa in October of 2022, the applications started pouring in. While the government hasn't announced the number of applications it has received, Portugal's Labour Minister did announce that the country approved 550 applications within the first six months.

Two months after launching its visa in September of 2021, Greece received 2,918 applications, approving an astonishing 1,693 applicants. The government is yet to release any new statistics, but going off that outstanding start it is safe to assume it is still garnering massive attention.

Germany also boasts impressive numbers, having issued a total of 3,638 visas in just one year since the introduction of its visa in 2018.

According to Residency Malta, the government branch responsible for the digital nomad visa, it has issued 1,041 visas to date, with an average approval rate of 78%.

Croatia, one of the first countries to introduce a pure digital nomad visa in early 2021 as a response to the rise in remote workers, has approved 680 applications, while 672 are still pending approval.

Not just 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", a digital nomad specialist at Savory & Partners reports.

While digital nomads typically use visa-free access or visas to stay in countries for a few months at a time before moving on to the next, digital nomad visas provide a sense of comfort and stability that aligns perfectly with their lifestyle, giving them ample time to enjoy the country they are in before moving on to the next.

Unsurprising demand

The rapid growth in application numbers and the surging demand for digital nomad visas isn't surprising. They are extremely simple to apply to, have fast processing times ranging from a few days to a couple of months, and they do not require any business establishment or investment.

Portugal's digital nomad visa, for example, only requires applicants to prove a monthly income of €3,040 per month, while Spain's visa has a lower threshold of just €2,160 per month.

Savory & Partners is an accredited agent for multiple governments where citizenship by investment is offered. The company has coverage in over 20 jurisdictions, including Europe and was the first firm to obtain all five authorised agent licenses for the governments of the Caribbean Islands. It has processed second passports for over 4,000 citizens with a 100 per cent success rate.

With a presence in 3 continents and 7 countries and more than 60 experts worldwide, the company's multinational staff comprises advisors who guide clients in English, Arabic, Farsi, French, Spanish and Hindi.

To know more about Savory & Partners, visit www.savoryandpartners.com or email [email protected].

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SOURCE Savory And Partners