Current:Home > NewsMoving abroad can be expensive: These 5 countries will 'pay' you to move there -Thrive Financial Network
Moving abroad can be expensive: These 5 countries will 'pay' you to move there
Rekubit Exchange View
Date:2025-04-06 03:41:08
- 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! (8481)
Related
- McConnell absent from Senate on Thursday as he recovers from fall in Capitol
- Ryan Gosling and Eva Mendes Make Rare Appearance at 2024 Paris Olympics
- Competing for two: Pregnant Olympians push the boundaries of possibility in Paris
- Powerball winning numbers for August 3 drawing: Jackpot rises to $171 million
- Elon Musk's skyrocketing net worth: He's the first person with over $400 billion
- You'll have a hard time retiring without this, and it's not money
- Japan’s Nikkei 225 index plunges 12.4% as world markets tremble over risks to the US economy
- Washington attorney general and sheriff who helped nab Green River Killer fight for governor’s seat
- Trump invites nearly all federal workers to quit now, get paid through September
- Tropical Storm Debby barrels toward Florida, with potential record-setting rains further north
Ranking
- From family road trips to travel woes: Americans are navigating skyrocketing holiday costs
- Taylor Swift didn't 'give a warning sign' for this acoustic set song in Warsaw
- Tesla brings back cheap Model 3 variant with big-time range
- Watch Jordan Chiles' reaction when found out she won Olympic bronze medal in floor
- A Mississippi company is sentenced for mislabeling cheap seafood as premium local fish
- Does Noah Lyles have asthma? What to know of track star who won 100m gold at Paris Olympics
- Schwab, Fidelity, other online trading brokerages appear to go dark during huge market sell-off
- Scottie Scheffler won't be viewed as an Olympic hero, but his was a heroic performance
Recommendation
In ‘Nickel Boys,’ striving for a new way to see
WWE champions 2024: Who holds every title in WWE, NXT after SummerSlam 2024
Mega Millions winning numbers for August 2 drawing: Jackpot now worth $374 million
Prosecutors plan to charge former Kansas police chief over his conduct following newspaper raid
IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
Tropical Storm Debby barrels toward Florida, with potential record-setting rains further north
Veteran Hollywood film producer Daniel Selznick dies at 88
Northrop Grumman launch to ISS for resupply mission scrubbed due to weather