Current:Home > MarketsMoving abroad can be expensive: These 5 countries will 'pay' you to move there -Streamline Finance
Moving abroad can be expensive: These 5 countries will 'pay' you to move there
View
Date:2025-04-21 05:24:20
- AI-assisted summary
- Several countries are offering financial incentives to attract residents, particularly to revitalize rural areas.
- These incentives often come with stipulations, such as starting a business or renovating a property.
- Applicants should carefully consider the requirements and lifestyle implications before relocating.
If the idea of packing up your bags and moving to a new country seems like a dream come true, then you're in luck.
Moving abroad can be a lofty, often expensive process, but many places offer enticing programs that offer money to foreigners to move there. In recent years, programs such as grants to settle in Tuscan villages and Mediterranean islands selling homes for less than the price of a cup of coffee have presented tempting opportunities for aspiring expats. For many vacation-deprived Americans, they sound like the perfect anecdote to the hustle and bustle of the U.S.
It's worth noting that chosen applicants for these programs aren't exactly getting paid to live there but rather are given funding as part of their condition to relocate. "Programs offering financial incentives to move abroad, like rural Italian villages paying people to restore old homes or regions in Spain offering grants, are fantastic in concept," said Michelle Garabito, an expat and founder of the relocating community The Lux Nomads. "They’re great marketing tools designed to draw attention and revitalize areas that may be underpopulated or economically struggling."
As tempting as these offerings may seem, Garabito warns people to have "realistic expectations" and consider if their lifestyle aligns with the program's goals, which are usually aimed at reinvigorating rural, remote areas with working professionals. "While charming and picturesque, they may lack the conveniences and infrastructure that some expats are accustomed to," she said. Looking into a digital nomad visa might be a more sensible approach.
Many programs are also highly selective and have rigid requirements, so only a few may end up eligible. You may also still need to get the appropriate residency or visa to even live there.
Enjoy your worry-free vacation:Best travel insurance policies
"That said, if someone is already interested in moving abroad, programs like these can be an excellent starting point," she added. "They provide an opportunity to experience a new culture while potentially saving money or contributing to a meaningful cause."
Should I get a second passport?It can be 'a rigorous task,' but it offers something visas can't
Here are some of the countries that will pay you to move there.
Spain
For wine and history lovers, the remote Spanish region of Extremadura launched a program in late August for 200 eligible digital nomads who work in tech to receive up to €15,000 (about $15,744) if they move to one of its rural villages for at least two years. The grants were aimed at helping expats "speed up" their relocation, like by acquiring accommodations.
Chile
Outdoor enthusiasts who have an entrepreneurial spirit can apply for Start-Up Chile, an accelerator program that offers grants from 15 million Chilean pesos (about $15,150) to 75 million Chilean pesos (about $75,750) for those who want to bring their start-up business to the South American country.
Ireland
In 2023, Ireland launched a scheme called "Our Living Islands," meant to revitalize and preserve the communities of 30 rural islands off its western coast. Eligible candidates can receive up to €84,000 (about $88,179) in funding to renovate "derelict properties," although to live in the peaceful villages, they still need to follow normal immigration policies.
"As a result of delivering this policy, we will see more people living on the islands and more people working on our islands, with good career prospects, regardless of where their employer is headquartered,” Minister for Rural and Community Development Heather Humphreys said in a statement.
Japan
Japan's Regional Revitalization Corps is a program that's been working since 2008 to fix rural depopulation by recruiting expats to move to small towns and revitalize its declining populations. Those Japanese citizens of foreign descent are "hired" to move to the countryside for a salary of around 3 million yen ($19,514) to resettle in a rural town and start a business, like opening a cafe. The program is highly selective, requiring fluency in Japanese and assimilation into the culture.
Italy
Following the recent U.S. presidential election, the ancient town of Ollolai on the Mediterranean island of Sardinia recently announced a program called "Live in Ollolai" for Americans who want to leave the country. The town is surrounded by peaceful forests, so you won't be by the famous beaches that Sardinia is known for. While these potential expats aren't really given money to relocate there, the program is offering homes for as little as €1 (about $1.05) with assistance for navigating the moving process.
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
veryGood! (731)
Related
- 'Kraven the Hunter' spoilers! Let's dig into that twisty ending, supervillain reveal
- Performing arts center finally opens at ground zero after 2 decades of setbacks and changed plans
- Bill Gates' foundation buys Anheuser-Busch stock worth $95 million after Bud Light financial fallout
- The 2023 CMA Awards Nominations Are Finally Here: See the List
- Daughter of Utah death row inmate navigates complicated dance of grief and healing before execution
- It's so hot at the U.S. Open that one participant is warning that a player is gonna die
- Here's why you shouldn't be surprised auto workers are asking for a 46% pay raise
- Do COVID-19 tests still work after they expire? Here's how to tell.
- RFK Jr. closer to getting on New Jersey ballot after judge rules he didn’t violate ‘sore loser’ law
- Philanthropies pledge $500 million to address 'crisis in local news'
Ranking
- Shilo Sanders' bankruptcy case reaches 'impasse' over NIL information for CU star
- Gabon's coup leaders say ousted president is 'freed' and can travel on a medical trip
- Daughter of long-imprisoned activist in Bahrain to return to island in bid to push for his release
- 'Merry Christmas': Man wins $500k from scratch-off game, immediately starts handing out $100 bills
- How effective is the Hyundai, Kia anti-theft software? New study offers insights.
- Rail operator pleads guilty in Scottish train crash that killed 3 in 2020
- Descendants of a famous poet wrestle with his vexed legacy in 'The Wren, The Wren'
- Virginia lawsuit stemming from police pepper-spraying an Army officer will be settled
Recommendation
How to watch new prequel series 'Dexter: Original Sin': Premiere date, cast, streaming
As Climate-Fueled Weather Disasters Hit More U.S. Farms, the Costs of Insuring Agriculture Have Skyrocketed
Joseph Fiordaliso, who championed clean energy as head of New Jersey utilities board, dies at 78
Colorado QB Shedeur Sanders gets timely motivation from Tom Brady ahead of Nebraska game
Chuck Scarborough signs off: Hoda Kotb, Al Roker tribute legendary New York anchor
Former Finnish prime minister Sanna Marin, who was one of Europe’s youngest leaders, quits politics
Joseph Fiordaliso, who championed clean energy as head of New Jersey utilities board, dies at 78
Wealthy Russian with Kremlin ties gets 9 years in prison for hacking and insider trading scheme