Current:Home > MarketsMoving abroad can be expensive: These 5 countries will 'pay' you to move there -TrueNorth Finance Path
Moving abroad can be expensive: These 5 countries will 'pay' you to move there
Charles H. Sloan View
Date:2025-04-10 01:37:14
- 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! (125)
Related
- Arkansas State Police probe death of woman found after officer
- Chrissy Teigen Reveals White Castle Lower Back Tattoo
- Jury selection begins in murder trial of Minnesota man accused of killing his girlfriend
- Could Naturally Occurring Hydrogen Underground Be a Gusher of Clean Energy in Alaska?
- The Grammy nominee you need to hear: Esperanza Spalding
- New Red Lobster CEO Damola Adamolekun: Endless shrimp created 'chaos' but could return
- Supreme Court declines Biden’s appeal in Texas emergency abortion case
- South Korean woman sues government and adoption agency after her kidnapped daughter was sent abroad
- Are Instagram, Facebook and WhatsApp down? Meta says most issues resolved after outages
- Why Teresa Giudice Is Slamming Fake Heiress Anna Delvey
Ranking
- Cincinnati Bengals quarterback Joe Burrow owns a $3 million Batmobile Tumbler
- Al Pacino 'didn't have a pulse' during near-death experience while battling COVID-19
- Richard Simmons was buried in workout gear under his clothes, brother says: 'Like Clark Kent'
- Girl, 2, drowns during field trip to West Virginia resort: Reports
- Jorge Ramos reveals his final day with 'Noticiero Univision': 'It's been quite a ride'
- Coco Gauff coasts past Karolina Muchova to win China Open final
- A man and a woman are arrested in an attack on a former New York governor
- SpaceX launch: Europe's Hera spacecraft on way to study asteroid Dimorphos
Recommendation
Friday the 13th luck? 13 past Mega Millions jackpot wins in December. See top 10 lottery prizes
Awaiting Promised Support From the West, Indonesia Proceeds With Its Ambitious Energy Transition
Social media users dub Musk as 'energetic' and 'cringe' at Trump's Butler, PA rally
Donald Glover cancels Childish Gambino tour dates after recent surgery
Jamie Foxx gets stitches after a glass is thrown at him during dinner in Beverly Hills
Here's When Taylor Swift Will Reunite With Travis Kelce After Missing His Birthday
Veterans of Alaska’s Oil Industry Look to Blaze a Renewable Energy Pathway in the State
Jets vs. Vikings in London: Start time, how to watch for Week 5 international game