Sri Lanka introduces Digital Nomad Visa: Details inside

COLOMBO - Known for being a tourist hotspot, Sri Lanka has also approved the grant of a Digital Nomad Visa as freelancers across the world search for options to relocate.

According to the details, under the Digital Nomad Visa applicants are required to substantiate a minimum monthly income of $ 2,000, which must be channeled through the Sri Lankan banking system.

Moreover, this new visa can be renewed annually, subject to certification of the requisite funds. The authorities have set the application fee for the visa at $ 500, and it covers the visa holder's spouse and dependents as well.

The visa was proposed by Minister of Public Security Tiran Alles and comes at a time when countries across the world are introducing such visas to attract global talent.

Many countries in the region are now offering such visas including the ones in Europe. For instance, Germany offers a freelance visa tailored for self-employed individuals.

Other countries with the same visa include Malaysia, New Zealand, Norway, Portugal, Thailand, the United Arab Emirates, Taiwan, Seychelles, Romania, Saint Lucia, etc. 

By introducing such visa programs, the country is eyeing itself as an attractive destination for online workers around the globe.

It is to be mentioned that many countries offering digital nomad visas will ask for proof of your solvency by insisting you have a fixed amount of money in the bank already, while others might want proof of a contract or regular freelance work over a certain period of time.

In this regard, one of the biggest factors to overcome can be the need to earn a minimum salary, which can be a deciding factor for you even if you don't like a specific country. 

To overcome this hurdle of pick and choose, professional nomadic couple Goats on the Road has created a Digital Nomad Visa Calculator which makes it easier for you to make the decision. The calculator can be accessed here.

The calculator gives you a quick and easy answer to whether you earn enough to meet the requirements of any given country. This calculator doesn’t guarantee acceptance of your visa but it will give you a quick and easy answer as to whether you’re even eligible for any specific country of your choice or not.

The aspirants just need to enter their salary or the dollar equivalent thereof, and they will be presented with a list of countries they are eligible for, with links to get any other information regarding those countries.

Apparently, Portugal, Germany and Colombia demand the lowest earning requirements but the Caribbean proves to be the most demanding in earning requirements as the Cayman Islands demand over $8,000 a month.