Posted on September 24 2024
With the growing technology and digitalization, a wave of new visas is made available for individuals. Digital nomad visas and Golden visas have become a convenient source for remote workers, wealthy investors, entrepreneurs, researchers, and individuals with highly specialized skills and talent. While both visas may provide similar benefits, they differ in many other ways. A digital nomad visa is specifically for digital nomads, allowing them to reside and work remotely in a foreign country. On the other hand, a Golden visa program is a type of exchange program that grants residency to individuals who invest in the country by setting up a business or buying properties.
The table below can help you understand the differences between a digital nomad visa and a golden visa.
*Want to work overseas? Get in touch with experts at Y-Axis for end-to-end assistance.
The below table will help you understand the difference between a Golden visa and a digital nomad visa:
Factors |
Golden visa |
Digital Nomad visa |
Who can apply? |
Investors |
Remote workers |
Entrepreneurs |
Freelancers |
|
Scientists |
Self-employed business owners |
|
Outstanding students and graduates |
Self-employed entrepreneurs |
|
Humanitarian pioneers and frontline heroes |
||
Business owner |
||
Wealthy retirees |
||
Eligibility |
Must be able to make the minimum investment required |
Must be above 18 years of age. |
The investment must be of their own earnings |
Have a monthly earnings |
|
The investment, once made, must be maintained as required by the country |
Have a remote job, freelance work, or own business |
|
Investment required |
Yes (Differs based on the country) |
No |
Work permit |
No |
No |
Cost to Apply |
€1,200 - €2,80,000 |
$200 to $2,000 |
Number of countries offering the visa/program |
100+ |
50+ |
Permanent residency |
Yes |
Yes |
Visa Renewal |
Yes (if all the requirements are met) |
Yes (Differs based on the country) |
Dependents |
Yes |
Yes (Differs based on the country) |
Tax exemption |
No |
Yes |
Chances of getting the visa |
95% |
Around 50% (Differs based on country) |
Advantages |
No requirement of a sponsor |
Can work remotely from any destination |
There are no restrictions on trade |
Can work at your convenience |
|
Freely travel |
Avail tax benefits |
|
Expedited processing time |
Get permanent residency (if eligible) |
|
Longer residency period |
Explore different cultures |
|
Get healthcare benefits |
Travel freely with limited restrictions |
|
Disadvantages |
Tax implications |
Can be expensive |
Involves risk that comes with investments |
May be eligible for higher taxes depending on the country |
|
High waiting time for citizenship |
Stress-induced work |
|
Other economic risks |
The job must be completely remote |
|
Language barriers |
No stability |
|
Political instability |
Differences in time zones |
|
|
Lack of security |
*Are you looking for step-by-step assistance with Overseas Immigration? Contact Y-Axis, the world’s No. 1 overseas immigration consultancy, for end-to-end assistance!
Tags:
Golden visa
Digital nomad visa
Golden visa program
Golden visa
digital nomad visa
Overseas immigration
Residency program
Golden visa eligibility
work abroad
Permanent Residency
Citizenship
citizenship-by-investment programs
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