Remote working means that, for many workers, living and working in another country is practical.
Katie Carson, a lady who moved from America to Italy, warns that there was a cost she did not know about before she moved.
To live in Italy, a non-EU citizen requires a visa. Carson had a digital nomad visa, only available to people whose income solely derives from outside Italy. This was initially fine for her as she was a freelance worker with only American clients. What she did not realise before moving was that her income would fluctuate according to the US dollar to euro exchange rate. When the exchange rate dips, living in Italy gets more expensive.
The situation is the same for remote workers who move to Italy from the UK. When their UK income is exchanged for euros, the exchange rate is affected by economic factors including interest rates, inflation, the political climate and the Bank of England.
UK citizens whose income comes from UK sources cannot control the exchange rate, but can budget their living expenses so that they can afford a reasonable lifestyle even if there is a poor exchange rate. This may not be as much of an issue for those who find work in Europe that is paid in euros.
The fluctuating exchange rate does not have to put off those determined to live in Italy or other European countries. If you are moving to Europe, talk to us at Merseyside Movers & Storers, a Liverpool removal service with extensive experience of moving clients overseas.
