Current:Home > ContactMoving abroad can be expensive: These 5 countries will 'pay' you to move there -Profound Wealth Insights
Moving abroad can be expensive: These 5 countries will 'pay' you to move there
View
Date:2025-04-24 15:11:34
- 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! (243)
Related
- The Daily Money: Spending more on holiday travel?
- Israeli family from Hamas-raided kibbutz tries not to think the worst as 3 still held, including baby boy
- Seahawks WR DK Metcalf misses first career game with rib, hip injuries
- Deal to force multinational companies to pay a 15% minimum tax is marred by loopholes, watchdog says
- From family road trips to travel woes: Americans are navigating skyrocketing holiday costs
- Writer Salman Rushdie decries attacks on free expression as he accepts German Peace Prize
- South Korean auto parts maker plans $72.5M plant near new Hyundai facility in Georgia, hiring 500
- Outcome of key local races in Pennsylvania could offer lessons for 2024 election
- Selena Gomez's "Weird Uncles" Steve Martin and Martin Short React to Her Engagement
- Seahawks WR DK Metcalf misses first career game with rib, hip injuries
Ranking
- Audit: California risked millions in homelessness funds due to poor anti-fraud protections
- Search continues for Nashville police chief's estranged son after shooting of two officers
- New deadly bird flu cases reported in Iowa, joining 3 other states as disease resurfaces
- Dwayne 'The Rock' Johnson says new wax figure in Paris needs 'improvements' after roasted online
- USA women's basketball live updates at Olympics: Start time vs Nigeria, how to watch
- More than 1,600 migrants arrive on Spanish Canary Islands. One boat carried 320 people
- Penn State, North Carolina among teams falling in college football's US LBM Coaches Poll
- 5 Things podcast: Two American hostages released by Hamas, House in limbo without Speaker
Recommendation
Louisiana high court temporarily removes Judge Eboni Johnson Rose from Baton Rouge bench amid probe
France completes withdrawal of troops from northern base in Niger as part of planned departure
Tesla says Justice Department is expanding investigations and issuing subpoenas for information
Autopsies confirm 5 died of chemical exposure in tanker crash
How to watch new prequel series 'Dexter: Original Sin': Premiere date, cast, streaming
Nashville police chief has spent a career mentoring youths but couldn’t keep his son from trouble
Tom Brady and Irina Shayk Break Up After Brief Romance
In 'I Must Be Dreaming,' Roz Chast succeeds in engaging us with her dreams