How do I choose the Remote Work location that’s best for me?

    Nov 19, 2020 @ 12:03 AM / by Fred Schlomann

    Casa Baio in barcelona mad eby antonio gaudhi

    The Rise of Remote Work and Workplace Digitalization 

    COVID-19 has propelled the digitalization of the workplace and the rise of remote work. Capitalizing on the appeal of its advanced infrastructure and digital connectivity, Dubai recently launched a new visa programme to encourage overseas remote working professionals (and their families) to relocate to Dubai, while continuing to work remotely for their overseas employers.

    The new remote worker scheme stipulates certain eligibility requirements around income and health insurance coverage, but those who qualify for the visa are eligible for Dubai’s no-tax regime.

    Even more recently, Cayman Islands has announced it will soon be offering a 24-month visa for remote workers. While there are substantial eligibility requirements on earnings (USD 100,000 per year for single employees, up to USD 180,000 for a family), the program does waive income taxes for the visa eligibility period.

    These developments follow similar moves by other countries eager to attract remote workers, like the 12-months Barbados Welcome Stamp.

     

    Assessing the best locations for Remote Worker Visas

    With the addition of Iceland (announced early November 2020), there are now 17 locations that offer visa programs targeting digital nomads and remote workers, including Antigua and Barbuda, Aruba, Bahamas, Barbados, Bermuda, Cayman Islands, Curacao, Czech Republic, Dubai U.A.E., Estonia, Georgia, Germany, Iceland, Mauritius, Mexico, Portugal, and Spain.

    The goal of all these visa programmes is to attract foreign talent to work and contribute to the local economy. Waiving local income taxes is commonly offered by many of these remote worker visa programmes as an incentive to attract applicants to the programme.

    With a growing list of countries offering remote work visas, how do you begin to assess the available options? For some, lifestyle is most important (particularly if money isn’t an issue). For others, financial well-being is at the top of the list.

    Using our Global 150 city ranking database, we took a closer look at some of the countries offering remote work visas to see how they stack up:

     


    Global 150 Chart 1


    Please note: The Cost-of-Living ranking ranges from 1% to 100%, with 100% being the most expensive cost-of-living. All information based on AIRINC's Global 150.


     

    If raw purchasing power is your goal, Mexico offers the “biggest bang” for your buck – it ranks in the 17th percentile of locations in the AIRINC Global 150 database, which means that it is cheaper to live there than over 85% of the other 149 locations we evaluate.

    The island nations in the Caribbean, on the other hand, consistently rank as some of the most expensive places in the world to live. Living costs in Bermuda are higher than 99% of the 149 other locations we reviewed. This might explain why a number of the Caribbean island locations waive local income taxes for those who obtain the remote worker visas!

     


    Global 150 Chart 2


    Please note: The ranges in the chart are from 1% to 100%, with 100% being the highest quality lifestyle. All information based on AIRINC's Global 150.


     

    Which countries offer the best quality lifestyle for remote work?

    If the quality of your lifestyle is your main goal, don’t pack your bags for those Caribbean islands yet! AIRINC’s Global 150 rankings offer a surprising, perhaps controversial, view on which of the countries offering remote work visas offer the best lifestyle:

    While scenic landscapes and pristine beaches can provide great memories and Instagram moments, the reality is that a good quality lifestyle over the longer-term depends on fast, reliable digital connectivity and good infrastructure (including environmental management), as well convenient access to quality health care, education, housing, and goods & services.

    Looking at our remote visa locations, Barcelona and Lisbon top the ranking for best lifestyle, followed by Dubai and Tallinn. The seven Caribbean locations, however, score at the tail end of our remote work location lifestyle rankings.

    Choosing the best location is ultimately a subjective exercise. But if you are seriously considering applying for a remote work visa in these or other locations, evaluating the financial and lifestyle impact is a first step to making the right choice!

     

    The Future of Remote Work 

    We look forward to seeing how things progress around the world as countries, companies, and workers adapt to the new remote work world. 

    Contact us to learn more about how companies are using remote work to secure top talent, and how we support them with our data and advice.

    Contact Us

     


    Reevaluating Total Rewards Strategies for the Growing Remote Workforce

    Intl infographic on salary


     

    About AIRINC

    Listen | Partner | Deliver.  For over 60 years, AIRINC has helped clients with the right data, cutting-edge technology, and thought-leading advice needed to effectively deploy talent worldwide. Our industry expertise, solutions, and service enable us to effectively partner with clients to navigate the complexity of today’s global mobility programs. As the market continues to evolve, AIRINC seeks innovative ways to help clients address new workforce globalization challenges, including mobility program assessment metrics and cross-border talent mobility strategy. Our approach is designed with your success in mind. With an understanding of your goals and objectives, we ensure you achieve them. Headquartered in Cambridge, MA, USA, AIRINC has full-service offices in Brussels, London, and Hong Kong. Learn more by clicking here.

     


    The 2020 Remote Work Playbook [Download]

    Remote work playbook thumbnail


     

    Topics: Hardship, Benchmarking, Mobility Policy, Global mobility, Remote worker, Benchmark my policy, Barcelona, Advisory Services, Mexico, Dubai, Commuters, remote work, Work From Home, Work From Anywhere, Barbados, Tallinn, Lisbon, Estonia

    Fred Schlomann

    Written by Fred Schlomann

    As Managing Director of AIRINC Asia- Pacific, Fred has over 28 years of experience in the field of international human resources administration and consulting. His background includes Expatriate Policy Development, Expatriate Program Administration, and International Benefits Plan Design for Unisys Corp. Fred’s experience also includes International Personnel Administration for Goldman Sachs, and International Human Resources Consulting for Arthur Andersen. Fred received his B.A. in Economics and International Relations from Cornell University in 1980. Fred grew up in South America and speaks Spanish and Portuguese. Fred has worked at AIRINC for over 20 years, counseling Global 500 companies on designing, implementing, and managing compensation for their globally mobile employees.