Current:Home > InvestMoving abroad can be expensive: These 5 countries will 'pay' you to move there -Core Financial Strategies
Moving abroad can be expensive: These 5 countries will 'pay' you to move there
View
Date:2025-04-14 00:03:25
- 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! (98)
Related
- A Mississippi company is sentenced for mislabeling cheap seafood as premium local fish
- A trial begins in Norway of a man accused of a deadly shooting at a LGBTQ+ festival in Oslo
- Wisconsin Republicans fire eight more Evers appointees, including regents and judicial watchdogs
- Dozens allege child sexual abuse in Maryland treatment program under newly filed lawsuits
- Arkansas State Police probe death of woman found after officer
- Wife accused of killing UConn professor and hiding his body pleads guilty to manslaughter
- Two pilots fall asleep mid-flight with more than 150 on board 36,000 feet in the air
- Don Julio 1942 was the unofficial beverage of the 2024 Oscars, here's where to get it
- US wholesale inflation accelerated in November in sign that some price pressures remain elevated
- Sister Wives’ Christine Brown Shares Photos Honoring “Incredible” Garrison Brown
Ranking
- Juan Soto praise of Mets' future a tough sight for Yankees, but World Series goal remains
- Judge rules missing 5-year-old girl legally dead weeks after father convicted of killing her
- Florida man claims self-defense in dog park death. Prosecutors allege it was a hate crime.
- 63,000 Jool Baby Nova Swings recalled over possible suffocation risk
- Hackers hit Rhode Island benefits system in major cyberattack. Personal data could be released soon
- Prince William Attends Thomas Kingston’s Funeral Amid Kate Middleton Photo Controversy
- 4 International Space Station crew members undock, head for Tuesday splashdown in Gulf of Mexico
- Protesters flood streets of Hollywood ahead of Oscars
Recommendation
Average rate on 30
Xenophobia or security precaution? Georgia lawmakers divided over limiting foreign land ownership
Darryl Strawberry resting comfortably after heart attack, according to New York Mets
4 International Space Station crew members undock, head for Tuesday splashdown in Gulf of Mexico
Which apps offer encrypted messaging? How to switch and what to know after feds’ warning
Caitlin Clark, Iowa set conference tournament viewership record after beating Nebraska
Jenifer Lewis thought she was going to die after falling 10 feet off a hotel balcony
Reports: Vikings adding free-agent QB Sam Darnold, RB Aaron Jones