Costa Rica Real Estate Magazine

REAL ESTATE

W hat is a Digital Nomad? Well for starters, it is a totally new category of Traveler/Resident. They arrive like a tourist but generally pre fer to travel during less crowded months and want to be fully immersed in their new location´s culture and day to day living just like someone who moves here as a resident. Their stay can generally be for 6 to 12 months and sometimes longer if they become enam ored with the place. They are concerned with finding a place with good to excellent Internet service so that they work efficiently and constantly. They generally make a good income and thus have disposable in come to spend during their time at a new location, thus contributing to the general economy. This is a trend that has been growing steadily and will continue to do so and while the pandemic severely limited the travel choices in the short run, in the middle and long run it will help to accelerate this trend as many companies realize that working from home, wherever that may be, is a much better option in many ways for both the em ployee as well as for the employer. There are of course many Digital Nomads who work for themselves and do not actually have a formal employer. The beauty of this workstyle is the absolute freedom to choose where you will work from so that you can be on a permanent vacation where at the very least you have nights and weekends to explore and enjoy your current destina tion. A Digital Nomad only needs his computer, a good Wi-Fi connection and an up-to-date passport and the money needed to sustain this lifestyle which should be coming from his or her online work. No longer are you tied to the four walls of an office environment. Here in Costa Rica, you could be working from your terrace in the jungle or forest while the monkeys and birds watch you and wonder what you are doing or from a beach side café after an early morning of surfing, swimming or running. It is an almost perfect working lifestyle! Costa Rica also sees this as a good opportunity for the reactivation of the economy and offers a similar time zone for North American related work in addition to all the other advantages of living in Costa Rica. With this new type of Traveler in mind, a new Digital Nomad Law has been proposed as follows: BENEFITS FOR THE DIGITAL NOMAD • One Year Visa which can be extended • No Income Tax • Free importation of needed Professional equipment materials • Current Driver´s License is fully valid during Nomads stay • Permission to easily open local bank accounts REQUIREMENTS FOR THE DIGITAL NOMAD • Monthly Minimum Income of US$3,000 • Have a US$4,000 Medical Insurance for family group

Digital Nomads Proposed Law

By Hernan A. Carazo tourrificticotours@gmail.com

76 COSTA RICA REAL ESTATE MAGAZINE