We’ve written about possibly relocating to a lower cost country as a solution to the demographic blues the United States will reach in 2030. In What About Moving To Malaysia, we explored the visa cost structure for moving to southeast Asia but we learned of a new digital nomad visa that Colombia will roll out in October.
From Time Out:
The latest country to offer a digital nomad visa is Colombia and, excitingly, it might be much more affordable than similar schemes around the world. Often digital nomad visas are reserved for high earners, but to qualify for Colombia’s digital nomad scheme you’ll only have to be earning $684 (£567) per month.
TimeOut.com
The cost of living in Colombia is relatively cheap. According to the Economist and their Big Mac Index, the cost of a “big mac” in Colombia is -34% cheaper than in the United States. While we haven’t visited Colombia to validate this number, a few people we do know who have traveled there have confirmed that it is relatively inexpensive to live in Colombia. Here is a Youtube video we found about Medellin.
We’ll plan on taking a trip down to Colombia at some point next year and report back our findings. We also found a website called NomadsEmbassy.com that lists the growing number of “digital nomad visas” designed by various countries around the world to entice remote workers to move to their countries. These are exciting times for people that can work remotely, save money, invest, and become richer faster.
In the meantime, stay tuned and stay solvent…