Malaysia offers a digital nomad visa program called "De Rantau Nomad" that provides temporary residence for remote workers, including employees, freelancers, and independent contractors, with a minimum annual income requirement of $24,000 USD.

The digital nomad lifestyle is suited to various types of work, including writing, marketing, web3.0, remote work, user experience design, computer programming, social media management, content creation, and freelance work, which can be done remotely and are often associated with IT or digital spaces.

The digital nomad lifestyle offers a unique set of advantages, including broadened perspectives, new experiences, flexibility, and freedom, allowing individuals to immerse themselves in local cultures and live like locals.

"Japan has introduced a new visa category for digital nomads, starting to issue visas in April 2024 to citizens of 50 countries and territories, aiming to attract global talent and tax revenue."

Japan's digital nomad visa requires a minimum annual income of ¥10 million, approximately $68,300.

"The digital nomad lifestyle requires skills such as time management, self-discipline, and investing skills to sustain a location-independent lifestyle, allowing for a balance of work and leisure activities."

"Japan will launch its digital nomad visa in April 2024, with the program initially available to citizens of 50 countries and territories."

36% of Americans still believe in the American Dream, which is the idea that if you work hard, you will get ahead.

A potential challenge of remote work for young people is that it may harm their career progression due to lack of physical presence in the workplace.

Digital nomads aim to achieve a better work-life balance through remote work, allowing them to experience life in different countries while maintaining their careers.

Digital nomads can work from anywhere in the world with a laptop and stable network.

Malaysia offers a digital nomad visa program called "De Rantau Nomad" that provides temporary residence for remote workers, including employees, freelancers, and independent contractors, with a minimum annual income requirement of $24,000 USD.

Title:

Content: Digital Nomad Visa Programs: An APAC Update

K
Klasko

Contributor

Klasko Immigration Law Partners is dedicated to providing industry-leading employment-based, investment-based, and litigation immigration services to our clients. We help our clients achieve their goals by providing comprehensive immigration legal services. We have a reputation for creative solutions to difficult immigration problems through cutting-edge strategies. Our clients value our extreme responsiveness and our innovative, practical, and effective immigration strategies.
Digital nomad visa programs have grown increasingly popular. Seen as a means of attracting top-tier, global talent and tax revenue, this trend is especially prevalent in the Asian Pacific region.
United States Employment and HR
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Digital nomad visa programs have grown increasingly popular. Seen as a means of attracting top-tier, global talent and tax revenue, this trend is especially prevalent in the Asian Pacific region. Indeed, Japan recently announced it joined the digital nomad visa party – its policy to be officially rolled out in early April 2024. Below, we discuss this new development and provide a summary of the current state of digital nomad programs in the APAC region.

Japan's new digital nomad visa program: a sumo-sized development

Japan's Ministry of Justice announced that Japan created a digital nomad visa. Situated as the 4th largest economy in the world, Japan began issuing digital nomad visas at the beginning of April 2024 to the citizens of 50 countries and territories.

The short-list of eligible countries includes at least the United States, Australia, and Singapore. The visas are valid for up to six months and available to those earning more than ¥10 million (app. $68,300) per year. Nomads may work from anywhere in the country and bring their spouses and children with them. Their work must be tied to "a sales contract or non-provision contract...with a public or private company in a foreign country". Carrying private health insurance will be obligatory to participate in the program.

Behind only China and Thailand, Japan is consistently ranked as one of the largest recipients of international visitors in APAC. In 2024 alone, it is forecasted that Japan will receive a total of 33.1 million visitors. With the aperture of this new program, coupled with sustained global interest in Japan's rich cultural heritage, the country is projected to receive thousands of digital nomads for years to come.

Thai-tanic-sized companies are welcomed in the Kingdom

Visa options for digital nomads in Thailand remain limited. Whereas the B visa program allows visitors to enter the Kingdom for up to 90 days to engage in a short list of activities, the government has gone to greater lengths to attract international corporate investment.

Indeed, under its "Remote Workers for Well-Established Overseas Companies" program, employees of publicly traded companies (or private companies with combined revenue of over $150 million in the last three years) will be able to apply for a 10-year long resident permit. The employee must (i) make an annual salary of at least $80,000.00 USD per year for two consecutive years or (ii) if holding a master's degree, make no less than $40,000 USD for the last two years. Alternatively, the individual may be self-employed provided they own productive intellectual property or have received Series A funding of no less than $1 million USD. Like Japan, visa applicants must carry personal health insurance.

With some of the lowest corporate tax rates in all of APAC, Thailand is situating itself as one of the region's premier hotbeds for foreign investment and, consequently, international talent.

Malaysia welcomes entrepreneurs from backgrounds as diverse as their landscapes

Maylasia arguably presents one of the most agile digital nomad visa programs in APAC. Offering temporary residence through the "De Rantau Nomad" program, employees of local or foreign employers, freelancers, and independent contractors are welcome. The nomad must be coming to work in an IT or digital space and earn at least $24,000 USD per year.

Pursuing a K-drama storyline in South Korea remains tricky

Early this year, South Korea made a splash on the global stage by launching its own version of a digital nomad visa: the "Workcation" visa. Whereas the visa program does offer a two-year period of validity, it is available only under a niche set of circumstances. For example, the minimum income threshold is KRW 85,000,000, or approximately $63,683.53. Digital nomads availing themselves must not only refrain from assuming gainful employment in South Korea, but must also refrain from earning money in South Korea associated with the South Korean economy (e.g., entering contracts with local businesses). In addition to having at least one year of work experience, nomads must also carry health insurance coverage valued at KRW 100 million, or about $75,000 USD. Given these restrictions, we anticipate S. Korea's digital nomad visa program to be leveraged only by the truest of K-POP fans.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Digital Nomad Visa Programs: An APAC Update

United States Employment and HR

Contributor

Klasko Immigration Law Partners is dedicated to providing industry-leading employment-based, investment-based, and litigation immigration services to our clients. We help our clients achieve their goals by providing comprehensive immigration legal services. We have a reputation for creative solutions to difficult immigration problems through cutting-edge strategies. Our clients value our extreme responsiveness and our innovative, practical, and effective immigration strategies.
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What are critical aspects of the digital nomad lifestyle?

Knowledge of visa and other legal requirements

What are the criteria of the top 20 digital nomad locations?

A digital nomad visa program or the equivalent

what non-EU countries have started issuing digital nomad visas?

The digital nomad lifestyle is suited to various types of work, including writing, marketing, web3.0, remote work, user experience design, computer programming, social media management, content creation, and freelance work, which can be done remotely and are often associated with IT or digital spaces.

What is driving the digital nomad lifestyle?

The digital nomad lifestyle offers a unique set of advantages, including broadened perspectives, new experiences, flexibility, and freedom, allowing individuals to immerse themselves in local cultures and live like locals.

Title:

Content:
Five Perfect Brazilian Destinations For Digital Nomads

(MENAFN- The Rio Times) Brazil offers special visas for immigrants with no employment relationship in the country, whose work can be done remotely.

In addition to its landscapes with a good Internet connection, the authorities are negotiating agreements with international organizations specialized in setting up service networks for digital nomads to settle in the country.

It is estimated that there are 35 million digital nomads worldwide, i.e., people who combine remote work and travel between countries and continents for various periods.

The Brazilian Agency for International Tourism Promotion, Embratur, announced that it would partner with the Portuguese company NomadX to stimulate the creation of coworking focused on foreigners who want to travel to Brazil and work remotely at the same time (the so-called "digital nomads").

"The new Embratur will focus on innovation and technology to bring more foreigners to our country and improve the experience of those visiting us."

"NomadX is already in Pipa, in Rio Grande do Norte. We want to expand this network to receive more tourists in Brazil", said Embratur's president, Marcelo Freixo.

ITACARÉ

Itacaré in Bahia is one of those places that's somehow more than you expect.

There must be hundreds of gorgeous tropical beaches and fishing villages in the northeast of Brazil; what's so special about this one?

This place is magic and one of Brazil's best-kept secrets.

While most of the beautiful areas near the sea in Brazil are completely built up, Itacaré and its surroundings are full of Mata Atlantica, the Atlantic jungle. Jungle all the way to the sea and a paradise for surfers and party lovers.

If Colombia is the home of magic realism, Itacaré will give it a good run for its money.

Tiny marmoset monkeys run along the telegraph wires, bullfrogs that sound more like meowing cats sit in ponds, capoeira is a way of life, and there's something about the place that makes it hard to leave.

It's relaxed enough to feel like an escape from the world, but don't mistake it for the kind of place where nothing ever happens.

Summer has more than enough bars and beach parties to keep you happy.

That is why whether on saltwater or freshwater beaches, the digital nomad or the remote worker traveling in Brazil must stop in Itacaré , one of the most beautiful destinations on the coast of Bahia, covered by the Atlantic forest and with practically deserted beaches.

There, the hard-working traveler comes into contact with the tranquility offered by the region, where it is possible to visit the attractions on foot.

The climate (warm all year round) is that of a small city with an ideal infrastructure for work.

NOMAD VILLAGE

In the paradisiacal Pipa Beach, in Tibau do Sul (Rio Grande do Norte), an official initiative is building the Nomad Village, the first special city for nomadic workers in South America.

The place - in partnership between the Ministry of Tourism and the Portuguese Nomadx, one of the largest companies in the segment in the world - was chosen for being a destination that combines nature, good internet connection, security, tranquility, and good weather, all year round to enjoy its characteristic beaches and dunes.

FLORIANÓPOLIS

The capital of Santa Catarina is known as the "Magic Island" and lives up to its name for its variety of clubs, good restaurants, a hundred beaches and islands to enjoy, a mild winter, and good connections that facilitate digital work.

With the country's most extensive circuit of urban mountain trails, "Floripa" combines the refinement of a big city with an exuberant natural environment.

GUARAMIRANGA

Another paradise that leaves its mark on the experience of nomadic life is Guaramiranga (Ceará).

With a colonial style reminiscent of Swiss architecture (that is why it is known as the "Switzerland of Ceará"), Guaramiranga arouses curiosity for having that European air, with cold weather and fine rain, in the state of Ceará, known for being a traditional destination of sun and beach.

In Guaramiranga the traveler also finds lush forests.

OURO PRETO

For nomads who enjoy history, nothing is better than installing the "office" in the colonial city of Ouro Preto (Minas Gerais).

The scenario of the Inconfidência Mineira (Mining Conspiracy) and full of monuments, the city breathes history, and the nomad who sits in a cafe or restaurant or walks the streets of Ouro Preto will go back in time and realize the greatness of a historical period during which mining was crucial for the growth of the region.

The largest baroque ensemble in the world and one of the main regions of the gold cycle, the city is an open-air museum and was the first Brazilian destination to be considered a World Heritage Site by UNESCO.

NomadX currently brings together a community of some 20,000 digital nomads who travel the world.

The company has locations in Lisbon, Caparica, Madeira, Cape Verde, and Pipa.

"Today, we have a community of about 50 people using our space in Pipa. A digital nomad spends an average of €1,800 monthly and about 2 months in each location."

"We are talking about young people between 25 and 35 years old who earn between €3,000 and €5,000."

"It has an important impact on the economy of small cities," explained NomadX CEO Gonçalo Hall.

Some of the Brazilian cities that have expressed interest in receiving digital nomads are João Pessoa (PB), São Miguel do Gostoso (RN), Recife (PE), Maceió (AL), Santos (SP), and Florianópolis (SC).

Gonçalo explained that this type of visitor is not just interested in enjoying tourist attractions.

According to the director, they seek to insert themselves and live experiences in the community as if they were locals.

"They consume in the establishments that the residents like to go to, they want to learn the local culture, and some end up teaching foreign languages to the children."

"It's an immersion experience with many spin-offs for small towns," he concluded.

With information from El Mostrador

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What are critical aspects of the digital nomad lifestyle?

Adaptablity to new cultures and language

"Japan has introduced a new visa category for digital nomads, starting to issue visas in April 2024 to citizens of 50 countries and territories, aiming to attract global talent and tax revenue."

Japan's digital nomad visa requires a minimum annual income of ¥10 million, approximately $68,300.

What are critical aspects of the digital nomad lifestyle?

Knowledge of visa and other legal requirements

"The digital nomad lifestyle requires skills such as time management, self-discipline, and investing skills to sustain a location-independent lifestyle, allowing for a balance of work and leisure activities."

Title:

Content: Supplement
WikiProject
FEATURE
Chiangmai Coffee Shop Office Meeting on Bali Beach Digital Nomad Self-discipline for Freedom
Travel + work, is it possible?
Remote work has become a new normal in the workplace, so long as you have a laptop and a stable network, you can move the “office ” to any corner of the world.
Whether it ’ s surfing season in the Philippines or winter in Chiang Mai, the “digital nomad ” lifestyle is no longer just an imagination.
After 90 years, Kristie and Kate quit their jobs during the epidemic to join the digital nomad, living and living in a different place, and returning to the rhythm of life. Kristie said, “Nomad ’ s gift to me is to help me clean up my life and start again. ”
While the reporter was writing in the newspaper, Kristie, who had returned from Xinjiang for less than a month, flew to Chiang Mai, Thailand. Browse her sharing on social media platforms, she enjoyed the sunshine while leisurely working with her laptop in the open coffee shop, so that the reporter “grape ”“ bathed ” in the white light tube was very good. Kristie began her digital nomad career early last year. Bali, northern Thailand Chiang Mai, and then to Switzerland, a full year did not return to Hong Kong, "began the journey about 1 month, I have decided to live such a life in the future."
Get up at 8 and 9 a.m. every day, go to the beach, meditate, and work efficiently for 4 hours. After dusk, learn new things, read books, and live the creative life that many wage earners dream of.
He made $50,000 a month at the peak of his career.
Before the pasture, she worked in the advertising industry, and her body and mind were eroded by the pressure of work, and she suffered from chronic gastritis, "(sometimes) pain so that she could not eat all day, and she would vomit after eating."
Finally, the doctor said that even if the prescription of many drugs is useless, because my life pressure is too big, let her decide to change the environment, for their own life to a big clean.
At that time, she took the initiative to propose a 30% pay cut to her superiors, and switched from full-time employees to freelance workers.
There is no regular income, employee welfare, she confessed that "initially very scared, suddenly lost the sense of security", so she had saved six months of living reserve before leaving to prevent zero income during the period; and for themselves to open up a new source of income, operating from the media, doing small business.
She also became an oblique person, relying on writing advertising copy, public relations and marketing planning to maintain the nomadic living expenses, peak monthly income can reach 50,000 yuan, the off-season income is only more than 10,000 yuan, but stretched to make up for the short, life is still good.
In particular, she is mostly nomadic in Southeast Asia, where the consumption is low and the quality of life is good. Taking the island of Phangan in Thailand as an example, she lives in an independent holiday home, with a monthly expenditure of about 12,000 Hong Kong dollars, such as clothing, food, housing and travel.
Low prices, good living, Indonesia, Thailand, a hot spot
In addition to freelancers like Kristie, there are also people engaged in online teaching, design, e-commerce, programming and other remote work, as well as enterprises due to industry characteristics, full-time employees can also work remotely, such as Kate working in the web3.0 industry. Web3.0 is a decentralized Internet based on blockchain technology, NFT, cryptocurrency, metaverse and other popular technology concepts in recent years. It is based on Web 3.0 technology.
Kate, 24, who worked as an occupational therapist for a year after graduating from college, found that she did not like working in fixed locations and hours, and wanted the freedom to travel while working as a digital nomad.
She is interested in cryptocurrency, so she turned to web3.0, engaged in marketing, operation of blockchain projects and other work, usually through online communication with colleagues.
"Web 3.0 is a more international company, with employees from all over the world, most of them do not have a physical office, and many times employees can only choose to work remotely."
It ’ s like living three or four different lives.
Every time she goes to different places to participate in seminars, and after completing her work, she will stay there for 1-2 weeks, traveling all over Japan, Thailand, Australia, Singapore, France, etc. Although she is a full-time employee, she has no fixed office hours, sometimes she does not need to turn on the computer all day, she can go sightseeing, sometimes she needs to meet and meet constantly. Bring a computer, wired headphones and plenty of mobile data.
When I tried to watch animals in the Australian zoo, I suddenly had a meeting; I suddenly had to deal with work on the way to shopping in Korea, and the store has been closed for seven or eight years, which is completely different from the excellent nomadic life I imagined.
Kate, who often hangs "work first" and "have self-discipline to have freedom", admits that even the beauty of the current can not be completely relaxed and appreciated, "I think you can not because your work location is not in a fixed place, and people feel unprofessional; it should make people believe that you can complete the work wherever you are, and there is quality, and no need for others to adapt, so as to maintain this way of life for a long."
Digital nomads have bitterness and sweetness, but both say they can ’ t go back after they set foot on this road.
Read this year Kristie published in the book fair, from the nomad, to find the heart of the sea ", she met on the road only two seasons of American couples, with children wandering the world of nomadic families, Lin Lin's total lifestyle has brought her a shock," I know in Hong Kong, many of them are a life to the end, but in the nomad meet them, I ’ ve lived three or four different lives, ” and there are fascinating stories in each life.
Embark on a nomadic journey to open Second Life, their book of life, and add a few unforgettable experiences.
●
Text: Chang Shu-mei
Editor: Liang Xiaoling
Art: Hsieh Wai-ho
Facebook @ Ming Pao Supplement
Copyright © 2019 Mingpao. All Rights Reserved.
Related Words: Chiang Mai Visa Digital Nomad Visa Work from anywhere Digital Nomad
Previous / Next News

What are critical aspects of the digital nomad lifestyle?

work-life balance
A plan for financial stability

"Japan will launch its digital nomad visa in April 2024, with the program initially available to citizens of 50 countries and territories."

36% of Americans still believe in the American Dream, which is the idea that if you work hard, you will get ahead.

Title:

Content: Is the American Dream dead? Couple who moved to Ecuador say they're 'aging in reverse' after escaping 'toxic hamster wheel' culture in the US - as families head overseas amid crippling debt and soaring house prices

  • Americans are choosing to up sticks and move to countries with lower cost of living and higher quality of life
  • Only 36 percent of Americans still believe in the 'American dream' that if you work hard, you'll get ahead
  • Young people who are saddled with student loans and facing high house prices are particularly likely to move away

Americans are trading in crippling debt and soaring house prices for white sand beaches and cheap rent abroad as some expats say the 'American dream is dead'.

One middle-aged couple who gave up their house and jobs to move to Ecuador even said they lost 50lbs after escaping the 'toxic hamster wheel' culture in the US.

And they're not alone. An estimated 9 million Americans live abroad currently, up from 6.8 million in 2013, according to the most recent State Department data.

House prices, inflation and debt have driven many to up sticks and move to countries with a lower cost of living and higher quality of life.

October polling by NORC found that only 36 percent of Americans still believe in the 'American dream' that 'if you work hard you'll get ahead'.

Amelia and JP said the only thing they regret is not moving abroad sooner

JP and Amelia with friends they have made since moving to Ecuador

And half of Americans believe the 'economic and political systems in the country are stacked against people like me' and that life is worse for people like them now than 50 years ago.

Instead, hundreds of people - particularly older and younger people - are choosing to move abroad in search of a 'better life'.

JP Stonestreet and Amelia Basista left Colorado to move to Ecuador in 2017 and now run a business helping other people move to live abroad.

They told DailyMail.com the only thing they regret is 'not going sooner'.

The pair were 'doing the American dream' in Colorado before they left, JP said: 'We had the house and the two cars and the mortgage'.

Amelia was out on the road four days a week for her regional sales job, while JP worked from home as a website designer, leaving them very little time to see friends or spend time together.

Amelia said: 'It was stressful, it was draining and it felt like my whole life was about my job - and it wasn't how I wanted to live my life, but I didn’t know what to do - but it’s kind of the American way of life, to be available 24/7.'

The pair have travelled more since moving to Ecuador including to Porto, Portugal

Day in the life: Colorado

4.30am: Amelia wakes up to go to a work out class before work

6.00am: Return home to get ready for work

8.30am: Set off on the road

Meetings and sales calls all day working on products while JP worked from home, he said: 'I was really a hermit, it was not good for me mentally. I just sat in front of my computer and worked all the time.'

4.00-6.00pm: Networking event

7.00pm: Home to eat dinner with JP

9.00pm: Go to bed

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Day in the life: Ecuador

No alarm set, wake up as the sun rises around 6.30am

Take the dog for a walk along the river

A yoga or belly-dancing class

Go shopping and cook lunch together

Do some work in the afternoon

Take a language class

Go out for dinner with friends or play dice at a bar

JP said: 'I still say sometimes when we’re doing something fun: "Amelia it’s Tuesday afternoon!" And we can’t believe we’re doing something so fun on a Tuesday.'

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They were earning around $8,000 a month between them, but were left with nothing after paying their mortgage, student loans and living expenses.

Then, JP got sick. He said: 'When I had my back injury and had to have two major spine surgeries in two months, I couldn’t work, I had a year of recovery, and after that we couldn’t afford the house and the cars anymore.

'We sold the cars and the house and moved into a one-bed in Denver - we were still going into the hole every month because of all the debt. We were in trouble. We didn’t know what to do, it was a very stressful time.'

The pair considered taking out a second mortgage, but they didn't want to get into more debt - already facing student loans and other bills of over $60,000 to pay off.

So they took a leap of faith, and moved to Cuenca, in Ecuador.

Their life changed completely, JP said: 'We’re able to spend our time together, we’ve paid off our debt, we’re able to save for retirement finally. We don’t set an alarm in the morning, we wake up when we wake up - we cook together.

'We were both overweight and we've lost about 50lbs combined'.

Ecuador: Cost of living

In Ecuador, the pair have a combined income between $8,000 and $10,000.

When they first moved, they only spent $1,500/month in total for rent, health insurance, food, travel and entertainment, that has now increased as they realized they don't need to be so frugal.

They paid $800/month for their first three bed, three bath home in Cuenca.

They then paid $2,500/month for a luxury beachfront condo

Private health insurance for $240/month for full coverage for both of them.

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And their cost of living has dropped substantially, meaning they are also able to save for retirement in a way they never were in the US.

JP said: 'I was really close to either dying or being paralyzed from neck down and we realized working towards a retirement we may never be able to afford wasn’t worth it.

'That was when we realized the American dream was dying - that it doesn’t exist any more. Many people are telling us they'll have to work until they die, they’re stuck in this cycle.'

The couple are one of hundreds who have fled rising cost of living in the US fueled by the pandemic and inflation.

Older people are increasingly likely to make the move when they realize they are working for a retirement they may not be able to afford.

At the end of 2021, nearly 450,000 retirees received their social security benefits outside the US, up from 307,000 in 2008, according to the Social Security Administration.

But younger people are moving too - on TikTok, young American influencers share clips from their exotic lifestyles abroad.

Cara Celeste West, 32, was living in Austin, Texas and working as a sales manager when her family decided to up sticks and become 'completely nomadic'.

The family decided to leave the US so they could pay off their debt and enjoy a higher quality of life abroad

Cara said it was hard giving up her life in the US but that she has no regrets

She told DailyMail.com: 'I was living the standard American lifestyle with a standard two-bedroom apartment in a nice area close to downtown Austin.

'My husband and I were both working full-time jobs, each had a vehicle, and could afford to go on weekend getaways from time to time.'

But it wasn't perfect, they were paying $1530 per month for a two-bedroom apartment, and were in about $70,000 of debt.

She said: 'Because we were in so much debt, we did not have the funds to put our daughter in day care so we were working opposite schedules to avoid paying for childcare, which meant we often never saw each other.'

So they made the decision to become 'completely nomadic', she said: 'We decided to sell almost everything we owned and live abroad because we wanted to spend more time together as a family rather than working so much to pay for our living expenses.'

She added: 'And most importantly, living abroad has provided us with a much more sense of safety than in the US'.

@caracelestewest

So many people told me it would be impossible to find a job that would let me work from anywhere. And yes while those jobs are rare it doesnt mean it’s impossible. With the right skills, preparation, networking, and determination you can find one too. Don’t give up, it took me almost 6 months to find the right job for me. Follow for more daily digital nomad inspiration ✈🥰 #digitalnomadlife #digitalnomadgirl #digitalnomadlifestyle #workremote #workfromanywhere #remotework #remoteworklife

♬ Surround Sound - JID

The family travel professionally and are planning to visit the UK and Mexico next

She started a new job as a luxury travel concierge and the family are currently in Greece.

She said: 'Because we are able to bring our U.S. based income to other countries where the cost of living is more affordable we can stretch our income further for our basic needs such as food, healthcare, housing, and child care.'

She said: 'Living in America has, for many families and individuals, become a life of living paycheck to paycheck or borrowing money in the form of loans or putting basic necessities on credit cards.

'Many people are just trying to get by and the financial stress has diminished the quality of life for many.

Inflation hits The American Dream: It now costs a staggering $3.4 million to get married, buy a home, raise children, cover healthcare and retire (plus there's $8k for a funeral!)

The so-called 'American Dream' is the benchmark that many people hope to achieve in their lifetime - getting married, buying a home and a car and raising children.

But new analysis has found that achieving these milestones now costs a staggering $3,455,305 - much more than most Americans will make in their lifetime.

One of the biggest amounts is for paying off a mortgage on a property. The average homebuyer will fork out $796,998, according to Investopedia - assuming a 10 percent down payment and a 30-year fixed loan at 7.2 percent interest.

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'It has not been an easy journey for us, it’s been honestly one of the most challenging things we’ve ever done to part with so many of the material things we worked so hard to obtain but we realized that our main goal was to have a life that aligned with our morals and values.

'Although we live a very minimalistic lifestyle now, living in countries that allow our income to stretch and living below our means, and giving up on achieving the American dream in America, has allowed us to achieve something better abroad - Freedom.'

Last week it was revealed that Americans need an extra $11,400 a year on average to afford the same quality of life they enjoyed in 2021, according to analysis from Republican members of the US Senate Joint Economic Committee.

Colorado is the worst hit state, where residents must fork out an extra $14,995 to afford the same quality of life as two years ago.

Housing affordability slumped to a multi-decade low this year. During the pandemic house prices ballooned from $329,000 in January 2020 to $433,000 two years later, according to US census data.

Mortgage rates have also soared, somebody purchasing a $400,000 home two years ago would pay around $1,623 a month for their mortgage.

The same buyer today faces monthly payments of $2,585 - more than $1,000 extra.

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Between October 2022 and October 2023, car insurance, white bread and shelter were up 19.2, 7.1 and 6.7 percent respectively

As well as negative factors in the US, there are also positive factors pulling Americans abroad.

The process has also gotten easier and for Americans, getting a visa is relatively straightforward.

Forty-three countries - including Greece, Portugal and Spain - have put in place Digital Nomad visas, where you can work remotely for a year or there are Golden Visa pathways, Entrepreneur visas or retirement or work visas.

According to relocation company, Lexidy, the most common country Americans move to is Mexico, followed by Canada and then there are smaller populations in France, Italy, Germany and Israel.

Close to 800,000 Americans are in Mexico alone, 200,000 in France and 72,000 in Greece.

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A potential challenge of remote work for young people is that it may harm their career progression due to lack of physical presence in the workplace.

Title:

Content: NICOLA Sturgeon gave a stay of execution this week to those who dread a return to the office. In Scotland, working from home continues to be government advice.

Good news for those who cling to their home working comfort zone like a favourite pair of slippers moulded to their feet.

Another few weeks with gentle starts to the day, no commuting, no stressful sprint to get children out to daycare on your way to work. More time to walk the new puppy that hates being left alone. No “What shall I wear today?” dilemmas.

As long as you pass muster from the neck up, here are a few more weeks to luxuriate in the warm, low maintenance bath of the home office.

But how long can this interlude last?

Westminster has rescinded its “work from home if you can” guidance. UK Ministers “expect and recommend a gradual return over the summer” and earlier this week Chancellor Rishi Sunak chivvied businesses to get their employees off Zoom video calls and back to a bricks-and-mortar workplace.

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Mr Sunak raised a troubling thought that nags away at those who are currently doing their jobs remotely, the worry that not being physically present in the workplace harms your career progression.

This certainly used to be the case. Pre-Covid, a friend of mine was made redundant by his US employer. It closed down its satellite offices in Paris and London and concentrated its activities on its home base. This was no coincidence. Virtual, out-on-a-limb workers are vulnerable. It’s almost as if management needs to see you in the flesh to believe that you are performing effectively.

Britain used to be infamous in Europe for its culture of presentee-ism. While the French, Italians, and Spaniards took leisurely lunches, and long holidays, and Germans ended their working days early, the UK put in the hours, even though there was nothing to show for it in terms of enhanced productivity.

Lockdowns subverted this presentee culture. Lots of people have taken advantage of this new-found liberty to work from home to make radical life changes, selling up in overpriced cities and moving to places where property is cheap, all on the understanding that home working would be the norm going forward.

But are those who restructured their lives in the post-Covid landscape skating on thin ice?

There’s nothing today’s fickle, globalised companies like better than streamlining their operations and casualising their workforce. The way they see it, if everyone is working virtually, there’s no measurable, real life human capital gains to be had from employing people in Scotland over people in India or Ireland.

And when workers come together in one workplace they have the ability to organise. But strung-out geographically, and deprived of real life contact, the collective bargaining power of employees is diminished.

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When the anchor of one central workplace is raised, why not shake up other terms and conditions while you’re at it? What’s to stop an employer snipping away at the entitlements that previously went with 9-5 working in this brave new virtual workplace? It might start with reduced travel allowances then creep on to cover cuts in maternity and holiday conditions.

Now, freelancers like me have a particular perspective on this discussion. We are, of necessity, a hard-working, non-slacking breed because if we aren’t productive, we simply don’t get paid. We live with job insecurity and benefit from no advantageous conditions. Forget sick pay, or annual leave. We kissed goodbye to that for the liberty of being our own bosses.

And the value of that freedom shouldn’t be underestimated. As a freelance you don’t have to sit through endless talking shop meetings. You don’t have to put up with annoying employers because if people don’t like having you work for them, there’s absolutely nothing contractual to stop them ditching you.

So while “working from home” for the employed can on occasion be interpreted as the equivalent of putting a “Gone fishing” sign on your desk, going through the motions is not an option for true freelancers unless you want to pull the plug on your income.

Freelancers have always worked from home, in a fairly disciplined way that is fostered by a sense of insecurity. We are at arm’s length from the employer’s Mother Ship, and out of sight can easily mean out of mind.

As one seasoned freelancer warned me early on in my career, freelancers should always attend the Christmas Party, if invited, because, “It’s harder for them to sack you if they’ve seen you.”

Emollient Mr Sunak stated the risk more diplomatically, of course. “The mentors I found when I first started my job I still talk to, and they have been helpful to me even after we have gone in different ways. I doubt I would have had those strong relationships if I was doing my internship or my first bit of my career over Teams and Zoom.” Mr Sunak said.

“That’s why I think for young people in particular being able to physically be in an office is valuable.”

Well, if you are simply marking time at work, expecting no more career advancement, just putting in the days and months until you can finally afford to jack it in, you may wish to postpone a physical return to the workplace indefinitely.

For the unambitious and workplace-weary, home working has been a God send, particularly for those older people who live in comfortable surroundings. Many of them have actively resisted the easing of Covid restrictions because it suits them to stay at home.

Not so the younger cohort. They miss the social opportunities of a shared workplace, and they have had their fill of a home office that is a laptop propped up on a pillow.

Younger people can also sense that their careers could suffer significantly from a protracted home working interlude.

The fact remains that although we inhabit an increasingly virtual world, face-to-face interaction is still terribly important. We humans feel more committed to each other when we get together.

Working from home forever? Be careful what you wish for.

Our columns are a platform for writers to express their opinions. They do not necessarily represent the views of The Herald.

Digital nomads aim to achieve a better work-life balance through remote work, allowing them to experience life in different countries while maintaining their careers.

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Content: Telecommuting makes it easier for U.S. employees to stay away from home
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The coronavirus epidemic has driven the demand for telecommuting, but many "invisible employees" have emerged in the United States to experience life in different countries through the convenience of telecommuting.
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They choose to hide their place of origin from their employers because of the high cost of living in large American cities, the flexibility of telecommuting and the desire to better balance life and work.
They said that if the boss found out, they might lose their jobs, but still thought it was worth it.
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