It's Happening, We're On The Right Track

While waiting for countries to get serious about crypto and adopt it as legal tender, I'm watching to see how different countries change their visa policy in order to welcome freelancers, digital nomads.

This is a big deal at the moment as with technology evolving with break neck speed, in certain industries you can work from wherever you please these days. Data can travel with the speed of light and credit/debit cards are accepted worldwide, so there's no reason to be held hostage in an office from 9 to 5, five r six days per week. Besides one can be more productive if it is offered a change of scenery and the opportunity to explore a new world.

Seems like countries from the European Union have recognized the need to create the appropriate legislation to welcome digital nomads. It is a new thing as the first digital nomad visa was issued in 2019 or 2020 if I'm not mistaken, but since then more and more countries are adhering to the new trend.

A few days ago I came across an article about Hungary Introduces New Residence Permit for Digital Nomads. This is good news for the world and I'm pretty sure the visa is going to be required by many, very soon. But let's see what are the requirements to qualify for such a visa.

Every government's priority, regarding these digital nomad visa's is to bring in money earned outside the country, that can be spent in the country, while the individual does not become a burden to the country. Thus the most important thing they ask of nomads is income, proof of housing and health insurance. However, in some cases there are other requirements as well, as it is the case with the Hungarian nomad visa.

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Internationals who meet the following requirements can benefit from the White Card:

• Hold a valid work contract in countries outside Hungary
• Have a share in a company with profit in a country other than Hungary
• The applicant does not pursue gainful activity while staying in Hungary and does not hold a share in any of the companies located in Hungary source

The first and last points are sort of ok. They need to be sure you have a valid contract, which guarantees you enough income to sustain yourself. The third one makes sense as well as no country wants their nomads to have anything to do with indigenous companies, the idea is to be paid by a foreign country. The second point on the other hand makes no sense to me and trust me, Hungary seems to be the only country to come up with such requirement so far.

Hungarian Parliament

Have a share in a company with profit in a country other than Hungary? I suppose this measure would serve to ensure the government you have some savings in case sh*t hits the fan, it's just that the stock market works in a similar way as the crypto market. News can influence share prices, doesn't even need to be true, fake news would do it as well and in a split second you see your shares devalued to the ground. So then why ask for shares? There are more secure ways to ensure one is safe for one year if things don't work out.

The other country that has adopted legislation regarding the digital nomad visa is Romania.

All persons interested in benefiting from Romania’s digital nomad visa will be required to apply for a long-term visa at the country’s consulates located abroad, as reported by Mobile Work. Such a visa is valid for six months; however, it can be renewed if internationals continue to meet the following requirements:

• Prove that they are employed full-time or part-time outside Romania for at least three years before applying.
• Present a valid proof of income for the last six months which should be three times the Romanian average gross salary of 6,095 LEI – nearly €3,700 or $4,170 per month.
• Submit the identification documents as well as employment contracts and company information. In addition, they must also explain the nature of their stay in Romania. source

Conditions here are a bit different from what Hungary requires and not all favorable to every nomad.

Firstly I don't understand why the visa is granted only for 6 months. It is true, there's a possibility to extend it, but even so, one year would sound more reasonable. If one goes through all the trouble to meet the conditions and move, why not let them stay for one year?

The first point eliminates young people as three years of previous employment is needed. A freshly graduated can kiss their visa dreams good bye. Next, proof of income, three times the Romanian average gross salary of 6,095 LEI – nearly €3,700 or $4,170. This requirement also filters the applicants heavily as low income travelers won't qualify easily. €3,700 or $4,170 is quite a lot.

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At present, the following European countries are famous for such schemes: France, Germany, Spain, Portugal, Croatia, Malta, Estonia, Iceland, Greece, and the Czech Republic. source

Roughly 12 European countries already offering the digital nomad visa, maybe more. Which one will be the most successful, attracting the most digital nomads? That's a good question and it depends on many things, among which I'd mention quality of life, living costs, tourist attraction, language difficulties, friendly citizens, safety and last but not least, internet quality and costs.

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Slowly every EU country will have their digital nomad visa implemented, then the real fun can begin. What is that, you may ask. That's the phase where countries are going to compete against each other by trying to offer better conditions to nomads.

Spain seems to be one step ahead of other countries already.

The digital nomad visa will permit internationals from non-European Economic Area (EEA) countries as well as persons who hold EU passports or those arriving from Schengen Zone countries to work remotely in Spain for under six months of the year without being obliged to register officially. source

Working for six months in Spain without being obliged to register officially is huge.

This is the beginning, I'm sure in time (in a year or two) we're going to see better conditions, with less requirements as well as crypto acceptance. It's a process, it takes time, but it's totally doable and if crypto comes in the picture, there will be no barriers. So put your laptop in your backpack, get your passport and be ready.

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