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Posted on September 24 2024

What is the difference between a golden visa and a digital nomad visa?

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By  Editor
Updated 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.

 

Golden Visa vs. Digital Nomad Visa

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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