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You could move to Estonia and work there remotely for a year thanks to a new incentive

  • Estonia has officially launched its new Digital Nomad Visa.
  • The visa would allow remote workers to live and work in the European country for up to a year.
  • The application costs between $94 and $117 (or €80 and €100) depending on how long you plan on staying.
  • It's important to note that, according to the CDC, "travel increases your chance of getting and spreading COVID-19." Estonia, as part of the European Union, is also closed to Americans for the time being.
  • Visit Insider's homepage for more stories.

If you've ever dreamt of packing up and moving to Europe, you might have a chance to do that in the near future.

On Wednesday, the Republic of Estonia officially launched its new Digital Nomad Visa, which it says is the first of its kind in the European Union.

According to the Republic of Estonia's e-Residency website, the visa allows remote workers to live and legally work in the northern European country, right across the Baltic Sea from Finland and Sweden, for up to a year. 

The website states that applicants must prove that they can do their job remotely, and that they are either employed by a company that's registered outside of Estonia, self-employed with a business that is registered outside of the country, or that they are freelancers that work mostly with clients based outside of the nation. They must also meet a minimum gross income requirement of $4,130 (€3,504) per month for six months preceding their application, according to the website.

Applicants must then fill in the application form online and make an appointment at their nearest Estonian embassy or consulate to submit the form and documents proving the aforementioned employment and income requirements, the website says.

It notes that an application costs between $94 and $117 (or between €80 and €100) depending on how long you plan on staying, and that applications should be processed within 30 days. Spouses and dependents will also be issued a visa, according to e-Residency's Medium blog post about the visa.

Currently, due to the coronavirus pandemic, Estonia, which is part of the European Union, is only open to a limited group of approved countries outside the EU, Schengen Zone, and the UK.

See the full list of who can enter Estonia on the Ministry of Foreign Affairs' website. According to the Ministry, the list is updated every other week.

Visitors from countries on that list that show no symptoms of the coronavirus can, for the most part, enter freely, as long as they've arrived from a country where the number of COVID-19 cases per 100,000 inhabitants does not exceed 15 cases in the last 14 days, according to the Estonian government's website. However, the government's website says that those showing symptoms or from countries with a higher infection rate in the last 14 days must quarantine for two weeks upon arrival.

Americans — who are currently banned from entering EU member states — will be able to apply as soon as the travel ban lifts, a representative for Estonia's e-Residency told Insider.

One caveat, per the e-Residency blog, is that if a Digital Nomad Visa holder is in the country for a significant amount of time — "more than 183 days in a consecutive 12-month period" — then they will have to declare and pay tax in the country.

It is important to note that while the Centers for Disease Control and Prevention no longer advises against nonessential travel, it does warn that "travel increases your chance of getting and spreading COVID-19." 

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