Philippine Senator Joel Villanueva introduced last month a new bill to establish a visa category tailored for digital nomads and remote workers from foreign countries.
The proposed Digital Nomad Visa Act aims to strengthen the country’s position as a leading remote work hub and contribute to economic growth.
Villanueva filed Senator Bill No. 2991, on February 24, 2025, defining digital nomads as people who travel while working remotely using digital technologies. Under the proposed bill, a new visa category would be created, granting foreign nationals a digital nomad visa and allowing them to work remotely from the Philippines for one year, renewable for another year.
If passed into law, the Digital Nomad Visa would be issued through the Bureau of Immigration and available to applicants who meet a number of criteria. GMA News Online reported that eligible applicants will need to be at least 18 years old, have a valid health insurance covering the visa period, have no criminal record in their home country, and pose no threat to the Philippines. Applicant would also need to provide proof of sufficient income earned outside the country.
The proposed bill also clarifies that digital nomads will not be considered residents for tax purposes and cannot be employed in the Philippines.
A digital nomad visa scheme to boost the local economy
Senator Villanueva hopes that the new visa scheme will attract more digital nomads to the Philippines.
The Philippine Department of Tourism reported a 9.15% increase in foreign visitors in 2024, totaling 5.95 million foreign tourists and resulting in a record-high PHP 760.5 billion (US$13 billion) tourism revenues.
The Digital Nomad Visa could further sustain this upward trend by allowing remote workers to stay longer in the country, boosting the domestic tourism industry and the local economy.
“Digital nomads spend money and therefore, would benefit the economy. The Philippines is a promising destination for those who embrace nomadic lifestyle and leverage technology to work remotely from outside their home country,” Villanueva said.
“While they are not allowed to take local jobs, they can share their knowledge and best practices to the local communities.”
The Philippines has gained recognition as a top destination for remote workers. In 2023, the country ranked 7th among the world’s fastest-growing remote work hubs, according to work and travel platform Nomad List.
From 2019 to 2022, the Philippines posted a 78% growth rate in remote work activity. For 2023, it recorded a growth of 60% based on 10 months of data. In 2022, it posted a 1,183% increase.
Nomad List is a platform where over 10,000 remote workers log their locations. In 2023, the platform identified Tokyo, Japan, as the fastest remote work hub in the world, followed by Danang in Vietnam, Seoul in South Korea, as well as Kuala Lumpur and Penang, both in Malaysia.
The rise of digital nomad visas
The Philippines joins a growing list of about 50 countries that offer specialized visas for digital nomads. These programs aim to attract skilled professionals who contribute to the local economy, allowing freelancers and digital entrepreneurs to live and work legally in a foreign country while being employed by a company or clients outside that country.
These visas typically offer longer stays than tourist visas, ranging from six months to several years, and may come with tax benefits or requirements. These requirements typically include holding mandatory health insurance, meeting minimum income requirements, and having no criminal record.
According to an analysis by FXC Intelligence, a data platform specializing in the cross-border payment and e-commerce sectors, there are currently 44 countries that offer digital nomad visa schemes spread across Latin America, Europe, Asia-Pacific (APAC) and Africa.
Cross-border payments and banking for digital nomads
The rise of digital nomads worldwide has driven demand for cross-border payment solutions and multi-currency banking services. Fintech companies, neobanks and traditional lenders have expanded their offerings to cater to this market, providing seamless financial services.
Neobank and fintech startups like Wise, Revolut, Bunq and Monese offer multi-currency account services, allowing customers to hold balances in multiple currencies simultaneously. On the other hand, players like UK neobank Monzo as well as US banks CapitalOne and Charles Schwab offer single-currency accounts but enable customers to make payments in other currencies without additional transaction fees.
Some traditional banks also provide services tailored to digital nomads, such as HSBC through its Global Money add-on to its Expat account.
In addition to ways to spend and bank, many fintech companies also offer value-added services focused on travel, including perks such as lounge access, with some, including Bunq, Revolut and Monzo, having premium features that are accessed via a monthly fee.
Featured image credit: edited from freepik
