Remote work enthusiasts now have an excitement quotient, as the news about the Sri Lanka Digital Nomad Visa program’s news has started making waves (according to reports). They would now be able to apply for the Digital Nomad Visa in Sri Lanka. As far as this visa is concerned, it enables individuals to work remotely for clients or companies based in different parts and locations around the world. Although Sri Lanka had made the announcement of the introduction of this permit in 2021, its official launch has only been confirmed recently.
Let’s Find Out More About Sri Lanka Digital Nomad Visa
According to online reports, one of the requirements to obtain the Sri Lanka Digital Nomad visa is to have a monthly minimum income of $2,000, which has to be channeled through the Sri Lankan banking system (the actual requirements are yet to be announced, these are based on online reports, therefore, you must keep an eye of the updates about this visa).
A Bit About Digital Nomads
The common question ‘What do digital nomads do?’ hits the mind. Let’s find out briefly about their works.
Digital nomads are individuals who work location-independent jobs using technology. They do their work from virtually anywhere. The best about their work is that they change work locations frequently in order to travel and experience new cultures. It is worth noting that the digital nomads typically fund their own travels. Besides, it needs to be noted that many remote jobs could have specific location requirements.
How Can Digital Nomads Make Money?
The following are basic ways from which they can make money:
- Freelancing
- Remote Jobs (Works)
- Investments and Passive Incomes
- Entrepreneurship
Sri Lanka Digital Nomad Visa Requirements
As mentioned earlier, the requirements are not fully confirmed yet, as they will be finalized soon by the Sri Lankan government. According to online media reports, following are apparent requirements.
To be eligible for the Sri Lanka Digital Nomad visa, applicants are required to meet several requirements. One of these requirements is having a monthly income of at least $2,000, which needs to be processed through the Sri Lankan banking system. If approved, you will be able to renew your digital nomad visa annually providing that the necessary funds are verified.
Online reports reveal that the application fee is $500 which also covers the visa holder’s spouse, and dependents (if any).
To get the benefit from the temporary residence permit, one is required to obtain a valid passport, which has to be valid for at least 6 months after reaching the country and work remotely as an employee, freelancer, or business owner for clients located abroad. However, it is necessary to note that those who plan to travel to Sri Lanka through the digital nomad visa will not be allowed to seek local employment or engage in business economic activities once they possess this visa.
Benefits Sri Lanka May Get from the Digital Nomad Visa
It is expected that Sri Lanka will get a boost in tourism which will lead to economic growth. According to the Sri Lanka Development Authority, the figures for tourists this year increased massively as compared to last year.
Sri Lanka Digital Nomad Visa is all set and expected to provide economic benefits to the country.