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This is really interesting - I wonder if, in our post-COVID world, we'll see other countries doing the same. I'm trying to see any disadvantages for countries that do this, but the only thing I came up with is the possibility of distorting local rental prices. But presumably if enough countries offered such a visa, applicants would be spread over those countries, causing less distortion. |
This could happen if the host country supplies plentiful public services funded mainly by income taxes rather than consumption taxes. Or simply if you lost your job and turned to begging or crime, and the host country finds it expensive or politically difficult to deport you.
These are pretty niche cases and most countries are happy to take wealthy, self-sufficient immigrants. But there are valid reasons why you might not want too open an immigration policy.