Current:Home > MarketsMoving abroad can be expensive: These 5 countries will 'pay' you to move there -Wealth Legacy Solutions
Moving abroad can be expensive: These 5 countries will 'pay' you to move there
Charles H. Sloan View
Date:2025-03-11 07:02:12
- 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! (1495)
Related
- Retirement planning: 3 crucial moves everyone should make before 2025
- Video game testers approve the first union at Microsoft
- Orlando Aims High With Emissions Cuts, Despite Uncertain Path
- How Tom Holland Really Feels About His Iconic Umbrella Performance 6 Years Later
- Juan Soto praise of Mets' future a tough sight for Yankees, but World Series goal remains
- Police Officer Catches Suspected Kidnapper After Chance Encounter at Traffic Stop
- Southern Cities’ Renewable Energy Push Could Be Stifled as Utility Locks Them Into Longer Contracts
- Shop the Best Bronzing Drops for an Effortless Summer Glow
- Intel's stock did something it hasn't done since 2022
- Celebrity Hairstylist Dimitris Giannetos Shares the $10 Must-Have To Hide Grown-Out Roots and Grey Hair
Ranking
- At site of suspected mass killings, Syrians recall horrors, hope for answers
- Be on the lookout for earthworms on steroids that jump a foot in the air and shed their tails
- Q&A: The Sierra Club Embraces Environmental Justice, Forcing a Difficult Internal Reckoning
- Allen Weisselberg sentenced to 5 months for his role in Trump Organization tax fraud
- IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
- Solar Power Just Miles from the Arctic Circle? In Icy Nordic Climes, It’s Become the Norm
- Vacation rental market shift leaves owners in nerve-wracking situation as popular areas remain unbooked
- Kate Mara Gives Sweet Update on Motherhood After Welcoming Baby Boy
Recommendation
Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
Police link man to killings of 2 women after finding second body in Minnesota storage unit
Get a $120 Barefoot Dreams Blanket for $30 Before It Sells Out, Again
Goldman Sachs is laying off as many as 3,200 employees this week
Meet the volunteers risking their lives to deliver Christmas gifts to children in Haiti
Ryan Reynolds, Bruce Willis, Dwayne Johnson and Other Proud Girl Dads
Buying a home became a key way to build wealth. What happens if you can't afford to?
How the Paycheck Protection Program went from good intentions to a huge free-for-all