$1 Dollar Italian Homes For Sale

Welcome back to Nomad Cloud. Today we’re talking 1 dollar Italy houses and yet another digital nomad visa. Let’s get into this!

• Are the $1 Italian Houses Legit?

• Canada has a digital nomad visa. What’s that eh?

• Estonia’s role in the digital nomad movement

Breaking News

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Italian Villages Are Giving Away Homes For $1

In Italy, towns and villages are selling homes for as little as one euro, attracting locals and foreigners alike. This trend, once limited to impoverished southern towns, has expanded since the pandemic to wealthier regions like Lombardy and Liguria. Officials see it as a chance to revitalize rural areas and stimulate the economy. With remote work becoming more prevalent, people seek a healthier work-life balance in quieter places with green spaces. The government has allocated $2.3 billion to revitalize small-town centers and cultural sites. Biccari received 20,000 offers for its one-euro houses. Architect Stefano Boeri suggests creating a symbiotic relationship between urban centers and surrounding villages. Despite challenges, buyers like the Giammicheles from California see potential in revitalizing these towns and integrating into the local community.

Our Take

The “$1 dollar house” scheme is an age-old strategy to bring attention to impoverished or struggling local economies. This particular case is another attempt to bring people to a place whose young people have fled to big cities in Europe like London and Berlin. The opportunity is a high-risk high reward, if you can find the right deal but certainly should tread carefully if you have no real estate or entrepreneurship experience.

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Canada Is Launching It’s Digital Nomad Visa

Canada is working on a plan to attract digital nomads and make the country a preferred destination for remote workers. The Immigration Refugees and Citizenship Canada (IRCC) aims to collaborate with public and private partners to determine if additional policies are needed to attract global remote workers. The initiative is part of Canada's efforts to recruit overseas talent, particularly highly skilled tech workers. While the details of the scheme are still uncertain, the IRCC suggests that digital nomads who initially come to Canada to work remotely may later seek opportunities with Canadian employers. In such cases, they could apply for temporary work permits or even permanent residency. Governments worldwide have been developing similar policies to accommodate remote workers, as the COVID-19 pandemic has popularized remote work and disrupted international travel.

Our Take

Well, here we go again right? But hold on this is a “first world” country desperate for new people to stimulate their economy? Not quite. This move by Canada is a clear move to attract talent. You see the whole world of remote work has officially become a global talent pool. Countries are competing to bring skilled workers to their nations to become a world power. They want us and are willing to court us by any means necessary. Pretty neat eh.

Estonia Continues To Lead The Way As A Digital Friendly Nation

In a population of only 1.3 million, Estonia is making waves as a tech powerhouse in Europe, often compared to Silicon Valley. The country witnessed an impressive achievement in 2022 as Estonian startups raised over €1.3 billion, with around 100 new startups emerging, bringing the total to approximately 1,500. Estonia boasts ten unicorns, including pioneers like Skype, Glia, and Bolt, making it the European leader in unicorns per capita.

Estonia's flourishing tech industry and supportive policies, such as the startup and scaleup visa, e-residency program, and digital nomad visa, are attracting global tech talent and founders. The close-knit tech community nurtures collaboration and knowledge sharing, with many former Skype employees going on to start their own successful ventures.

Estonia's digital advancements are equally impressive. It became the first country to offer a digital nomad visa, allowing remote workers to reside and work in Estonia. The country's e-governance services are highly advanced, with most tasks, from tax declarations to applying for support, done online. The e-Residency program enables individuals to access online services and open a company digitally, regardless of their physical location.

Beyond its tech scene, Estonia offers a harmonious blend of nature and innovation. With thousands of islands and the prestigious title of "European Green Capital 2023," Estonia provides a balance between urban amenities and breathtaking natural landscapes.

As Estonia's tech ecosystem continues to grow, the government aims to attract more talent and explore opportunities for digital nomads to become residents or join local startups. With its hassle-free lifestyle and multicultural communities, Estonia is increasingly becoming a sought-after destination for entrepreneurs and professionals alike.

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