Relocation is taxing and involves huge costs. But what if you are told that you will be paid to move to a new place. Well! there are some cities, states and countries which are doing just that.
These places pay you to stay there and also reward new residents with free land and a host of other incentives, according to a list put out by Market Watch.
Vermont, a state in the New England region of the northeastern United States, is keen to offer out-of-state workers up to $10,000 over two years if they relocate to the state on or after January 1, 2019. The workers can avail of these grants on a first-come first-served basis. The move is aimed to draw young professionals. Every new resident will get $5,000 a year - which will include relocation costs, computer software and hardware, broadband access, and so on.
Another New England state - Maine - has gone a step ahead. While encouraging new professionals, it is helping to repay student loans of not just Maine residents, but also of out-of-state workers. According to a report in Moneyish, the amount of money you put towards paying your student loans each year is subtracted from your state income taxes. So if you pay $1,800 in student loans, but you owe the state $2,000 in taxes, then you just pay Maine $200 at tax time.
Candela in Italy is also offering up to 2,000 euros to attract people back to the picturesque city as its population is dwindling, CNN Travel reported. The new residents must rent in the city, have a job there with a salary of at least 7,500 euros per year to be eligible for the grant.
Bachelors will receive 800 euros, couples 1,200 euros, three-member families 1,500 to 1,800 euros and families of four to five persons will get more than 2,000 euros. New workers can also get tax credits on city waste disposal, bills and nurseries in the time to come.
New Haven, Connecticut
New homeowners will get $80,000 in incentives, including $10,000 interest-free to use as a down payment on a new home, or to cover closing costs on a house, the Moneyish report said. $30,000 for home renovations and energy-saving upgrades, and $40,000 for college tuition are other offers up for grabs.
Through a lottery twice a year, Baltimore hands out 30 potential residents $5,000 for buying a new house in the city. The mortgage limit is $517,000, but one has to enter that house within 2 months from the day of being selected the winner of the draw. A resident can also buy a vacant property and redevelop it and he/she gets $10,000 as an offer to purchase it.
Alaska has been sharing the wealth from its oil money since 1976, when the Permanent Fund Dividend was established to divide 25 per cent of its oil revenues each year among its permanent residents, the Moneyish report said. If a person has lived in Alaska for a minimum of one year, and have been present in the state for at least 190 days in a year, and not been convicted of felony, he will get his share which could amount to $1,200 a year.
Kansas and Nebraska
There are some towns in Kansas and Nebraska where sprawling lands are available for free. One can build a house on them. In Lincoln, under Kansas's Free Lot Plan, land sizes of between 12,000 to 36,000 square feet are available which are easily accessible from the community's business district. Curtis, in Nebraska, is giving out free lands where people can construct their own houses. Harmony, which is a city in Nebraska, discounts of $5,000 to $12,000 are available for those building new houses there.
Under the Graduate Retention Programme, graduates living in Saskatchewan are given $15,956 to pay their tuition fees, which comes in the form of tax credit paid out over seven years. It is a way to encourage students to settle down there.
You get paid about $45,000 and a one-year working visa to launch your business in this South American country by Start-up Chile. To get you started, you get $100,000 in perks, which includes $500 off on United flights, or a $10,000 Amazon Web Services credit. What more can one ask for to start one's business in a new country.
Copyright © 2020 Khaleej Times. All Rights Reserved.