Welcome to day two of the Living Abroad Profile Challenge. You are hot off of day
one defining your way and now we're going to look at finding your ideal path.
Today we'll focus on identifying the route that best describes your situation
and understanding the core purpose and intention behind your decision because
you've identified that from day one. Now by understanding why you want to move
and gathering some data you can make informed decisions about where you
should go. Now day two again is a high level view of visas. I want you to have a
general understanding of the core visa options that are at your disposal. Here
is a disclaimer. Every country controls its immigration process and so it's
important to always look up the most recent information about the visa in the
country you're applying to. Okay let's get started. I'm going to focus on the
non lucrative visa, the digital nomad visa, the education visa, the entrepreneur
visa, and the retirement visa. Those are the five that we're going to focus on in
day two. Starting with the non lucrative visa. The non lucrative visa is one that
you can apply for in just about any country if you can show sufficient means
to support yourself without seeking employment in that country. Now there is
a great area in some countries between the non lucrative visa and the retirement
visa because when I say you're showing sufficient means to support yourself if
you are a retiree that means of support would be your pension, your social
security check, right? That would be how you show your sufficient means to
support yourself. However this is the category that I actually fall in the
non lucrative visa because I didn't want to wait until I was retired. So that
means I have to show my income in a different manner but it has to show
sufficient means of support and that's where a lot of people inside RYL Abroad
are at. They don't want to wait until they're 67 and so they want to have
their their own income coming in. That could be in several ways that could be
investment property income, that could be in a form of dividends from
investments, that could be through your own business. Okay? As long as you're
saying I can support myself and I don't have to seek a job and neither of those
visas will allow you a permit to work inside of the country. Okay? Now the
digital Nomad visa is probably the most popular visa and the one that you hear
about the most these days. There are so many countries that either revamped or
are introduced for the first time the digital Nomad visa because so many
people work from anywhere. Now the key to the digital Nomad visa is also that
you're not seeking employment within that country but instead you are coming
being able to demonstrate that you are employed, gainfully employed either as a
W-2 or I-9 worker and in most cases you would also have to demonstrate that
that company is fully aware that you are working inside of the country that
you're applying for and there has been people that have tried to circumvent
that requirement. I really employ you not to take shortcuts. It's nothing more
utterly embarrassing than being escorted outside of a country so we believe in
doing things the right way. Alrighty? There are a lot of people that seek
remote employment seek to have that kind of flexibility through work contracts
and they apply for digital Nomad visas so that is a very very popular strategic
way to move outside of the United States. It's great for freelancers, it's great
even people who have online businesses because I could fall into categories to
apply for a digital Nomad visa or a non lucrative visa myself. So there's
flexibility in there. You have to remember I said at the top of this that
knowing and understanding these visas that a lot of the final decision that
you make on which one to apply to is going to have a lot to do with strategy.
Okay? Because for example a digital Nomad visa in most cases will have a higher
income threshold to show than a non lucrative visa but on the other hand
the non lucrative visa has a higher threshold of savings to show so you have
to understand the differences and the nuances of the visa so that you know
which one to apply to. Now let's move on to the education visa. I don't want
anyone to ever sleep on this one because I know a lot of times when you think of
an education visa you think of someone that's probably straight out of high
school but on the contrary there are remember college doors are never closed
to anyone ever no matter what your age is and so a lot of people use this visa
as a way to plan that move outside of the US because it gives you instantly a
visa for at least two to four years sometimes two to five years depending
on what program you go into and whether or not you're going to school full-time
or part-time. Now in most countries the education visa does have a work component
so you are able to work part-time inside of that country and if you don't know if
you're seeking a doctoral level degree in most countries a doctoral level degree
is absolutely free and it gives you the ability to apply for numerous stipends
living stipends and housing stipends all sorts of of monies to help you along
the way as you're completing your doctoral studies so no matter
where you are in life don't rule out the education visa some would say
that it is the easiest visa to get when you really want to move I don't know it
depends on your set of circumstances but by no means should you ever just ignore
it especially if you identified in day one that continuing or pursuing your
academic opportunities be it undergrad graduate or doctoral level if that is
something that you have just acknowledged is really important to you then
this could be your pathway this could be the time remember this is the time that
you're betting on yourself to make your life the way you want it to be now let's
move on to talk about the entrepreneurial visa because this is another
visa that I think is often too overlooked there are several countries that
have just top tier accelerator entrepreneur accelerator programs that are
attached to visas so you can go into that country be in a business accelerator
program learn how to start your business in that country learn how to build a
business while you're living in that country and then oftentimes your visa
can be extended beyond the accelerator component or it's attached to you having
an incubator in that country for continual support if entrepreneurship is your
path of choice your choice of path okay your choice okay then don't overlook this
as a matter of fact I used to put out regularly international entrepreneur
accelerators and I think I'm gonna go back and update it because I haven't
done an update since post COVID so look for that in the community okay lastly
let's talk about the retirement visa this honestly is the easiest visa of them
all because it is a self-explanatory and keep in mind remember I said there's
this gray area in the title of retirement versus non lucrative some
countries may be labeling it non lucrative and it's it works as both
okay it works as both so if you are over 67 over 65 or whatever your
retirement age in the US and you have that that pension social security income
then just apply for a retirement visa it's the fastest visa to get pushed
through it really is and just go live your best life it is the easiest one
however if you're not at retirement age look at the requirements for the
non lucrative and then don't wait don't wait you know my motto my motto is why
wait when you can plan your life to live however you want to live now another
thing that we're going to consider in finding our ideal path is I need you to
consider whether or not this visa application is going to be submitted for
you and you yourself alone or with family members because when you're
attaching on family members be it children or spouse then there is an uptick
in the financial requirements of any country it's not automatically double
so I don't want you to think that but it is an uptick in the requirement because
you know showing that you can sustain yourself as a single person versus a
family of four is a very different thing and also if you're pursuing the
education visa especially there's some some countries that have actually
discontinued you bringing along your entire family while you're doing your
studies not all countries but there are some countries that did discontinue that
that amount of flexibility already so coming off of day one defining your way
and understanding your visa options is critical to to knowing how you're going
to make this happen for yourself so have fun in looking at these visas a little
more closely coming up with some strategies for yourself of which path
you think is going to be right with you okay and have above all have fun