The hunt for digital nomads and the benefits for the economy

According to the Massachusetts Institute of Technology, if Greece manages to attract 100,000 digital nomads in one year, and they stay in the country for 6 months, the benefit to the economy could reach 1.6 billion euros per year. .

Greece seeks economic benefits of up to € 1.6 billion with the presentation in parliament last week of the Ministries of Immigration and Asylum and Citizen Protection Bill regarding digital nomads .

According to the Massachusetts Institute of Technology, if Greece manages to attract 100,000 digital nomads in one year, and they stay in the country for 6 months, the benefit to the economy could reach 1.6 billion euros per year. .

It is estimated that before the pandemic there were 4 million digital nomads in the world, while their number skyrocketed last year due to the coronavirus and could even reach 1 billion people by 2035.

Greece is now entering the race for digital nomads in a market considered to be very competitive.

The bill introduces a series of criteria for the issuance of a digital nomadic visa, giving third country residents the right to live in Greece for up to 18 months, under certain conditions.

Concretely, it is possible that a residence permit will be issued to foreign nationals (self-employed or employees) working for employers or with clients outside Greece remotely for a period of up to twelve (12) months, with the possibility of extending it by another six months.

In addition, they can be accompanied by members of their family (who are not allowed to work in the country). Interested parties are required to submit supporting documents proving that they meet the income criteria, such as:

  • A statement indicating their intention to reside in the country with the national entry visa for the provision of remote work and their commitment not to work or provide services to an employer based in Greece,
  • Provide an employment or employment contract or proof of employment with an employer, natural or legal person, who is established outside the Greek territory, for an indefinite period or in case of a fixed-term contract during the period relating to the visa
  • Proof that he has sufficient resources to cover his living expenses during his stay in the country, without burdening the national social protection system. The amount of sufficient resources is set at 3,500 euros per month and is justified i) by the contract or work project or work certificate, in the case of dependent work, services or project or ii) by bank account statements
  • If sufficient resources are derived from paid employment services, services or works, the minimum amount above refers to net income after payment of taxes required in the country of employment. The above amount is increased by 20% for the spouse or partner and by fifteen percent (15%) for each child. The amount of sufficient resources can be redefined by joint ministerial decree.

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