As more countries introduce digital nomad visas, one of the key requirements applicants must meet is proving a stable income. These income thresholds vary depending on the country, and they are designed to ensure that remote workers can support themselves without burdening local economies. Understanding how much you need to earn and how to prove your income is essential before applying.
Why Do Countries Have Income Requirements?
Governments set income requirements for digital nomad visas to ensure applicants can sustain their lifestyle while living abroad. These requirements help:
- Prevent visa holders from relying on local welfare systems.
- Ensure nomads can afford accommodation, healthcare, and daily expenses.
- Protect the local job market by limiting competition for local employment.
Typically, the required income is based on a country’s cost of living, meaning that some destinations are more affordable than others.
Income Requirements by Country
Europe
- Portugal: Around €3,280 per month (four times the minimum wage).
- Spain: Roughly €2,600 per month or €31,200 per year.
- Greece: A minimum of €3,500 per month.
- Croatia: Around €2,300 per month.
- Italy: Expected to be around €2,500 per month (varies by region).
Latin America
- Costa Rica: About $3,000 per month, or $4,000 if bringing dependents.
- Mexico: Approximately $2,600 per month or a lump sum of $43,000 in savings.
- Brazil: Roughly $1,500 per month or a savings balance of $18,000.
- Argentina: Estimated around $2,500 per month.
Asia & Other Regions
- Thailand: Around $3,000 per month or $36,000 per year.
- Indonesia (Bali): Expected to require $2,000 per month.
- UAE (Dubai): Minimum $3,500 per month.
- Mauritius: About $1,500 per month.
These figures are subject to change, so always check official government websites for the latest requirements.
How to Prove Your Income
Most digital nomad visa applications require documentation to confirm your financial stability. Common proof includes:
- Bank Statements: Showing steady income deposits over several months.
- Tax Returns: Evidence of your income over the past year.
- Employment Contracts: If working remotely for a company.
- Freelance Invoices & Client Contracts: If self-employed or a freelancer.
Many countries require income to be consistent and traceable, so irregular or cash-based earnings might not qualify.
What If You Don’t Meet the Income Requirement?
If your income is below the required threshold, consider these options:
- Increase Your Remote Income: Take on additional freelance work or remote gigs.
- Show Savings Instead: Some visas allow applicants to meet financial requirements through lump sum savings.
- Consider Lower-Income Requirement Countries: Countries like Brazil and Mauritius have lower financial thresholds.
Digital nomad visas provide an excellent opportunity to live and work abroad, but financial preparation is key. Ensuring that you meet the income requirement and have the necessary documentation will make the application process smoother and increase your chances of approval.