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Work Remotely in Spain with the Digital Nomad Visa
Great news!
A new law for startups in Spain has been published, bringing significant changes to the immigration law.
This law aims to promote and develop entrepreneurship in Spain by introducing a new visa for digital nomads and remote workers in Spain.
If you’re interested in learning more about this new visa and its requirements, continue reading!
Discover Spain’s Revolutionary New Startup Law
The Spanish Government has officially published the new Startup Law, including the digital nomad visa, on December 22nd.
This law aims to revolutionize Spanish legislation related to entrepreneurship and the startup world by boosting the entrepreneurship ecosystem in Spain, attracting foreign investment and talent, and converting Spain into a hub for international entrepreneurship.
To achieve these goals, the government is offering tax incentives to startups and foreign workers, investment facilities, and beneficial regulations for the sector’s development. Additionally, a new visa for digital nomads and remote workers in Spain has been created to attract international talent.
Who is eligible for the new digital nomad visa?
Previously, many foreigners faced a common issue.
While some did not intend to engage in any economic activity in Spain, they often wanted to continue working for a foreign company or provide services to international clients while enjoying the Spanish lifestyle.
The non-lucrative or non-profit residency was the most appropriate option in these cases, but it did not permit them to engage in any economic activity. However, with the new visa under the startup law, these foreigners will now have an easy path to regularize their situation and work remotely from Spain.
There are three different profiles of foreigners who could benefit from the new residence permit: foreigners who work remotely from Spain for a company outside Spanish territory; digital nomads who often have multiple sources of online income and travel from one country to another (including freelancers with clients worldwide); and people who work in a foreign company located in Spain, including the audiovisual sector.
Would you like to begin your remote work visa application today? Contact our lawyers and get started now.
Advantages for Foreign Entrepreneurs under the New Startup Law
One of the key benefits of the new Startup Law is the introduction of a new residence permit specifically designed for digital nomads.
This makes it much easier for foreigners who meet the requirements to obtain residency in Spain.
There are two options for applying: directly from Spain during the first 90 days on a tourist visa, or at a Spanish consulate in the country of origin.
The first option grants a 3-year residence card, renewable every 2 years, with the possibility of applying for permanent residency after 5 years and citizenship after 10 years.
The second option grants a 1-year visa, which can later be modified to a 3-year residence card.
Spain’s Digital Nomad Visa: A Tax-Friendly Option for Remote Workers
Digital nomads applying for the new visa under the Startup Law can enjoy significant tax benefits. They can access a favorable tax regime, with greater flexibility to pay non-resident income tax.
This results in a reduction in taxes, as they would pay 24% of their income derived from work up to €600,000, instead of a progressive rate that can reach up to 48%. The conditions for accessing this reduced tax rate have been lowered, with the required period of non-residence for tax purposes in the country reduced from 10 to 5 years.
This special tax regime can be applied for up to 6 months after obtaining the residence permit and can be enjoyed for a total of 5 years before being transferred to the general regime.
Additionally, digital nomads will be considered non-residents for tax purposes and will not have to pay wealth tax or complete the 720 informative model, streamlining their life in Spain.
Eligibility Criteria for Spain’s New Digital Nomad Visa
Here are the requirements for applying for Spain’s new digital nomad visa:
- Prove that you are an international remote worker who wants to settle in Spain.
- Prove that income from Spain does not exceed 20% of total income.
- Demonstrate a continuous employment relationship of at least three months with the company you are working remotely for, and that the company allows online work.
- The company or companies you are associated with must have been operating for at least 1 year.
- Have a sufficient academic and professional profile, either by graduating from a prestigious university or business school or by demonstrating at least 3 years of previous work experience.
- Demonstrate possession of sufficient economic means, 200% of the SMI (€25,000), via a bank account or salary.
- Submit a criminal record certificate with a minimum validity of 90 days.
- Include a declaration of no criminal record for the last 5 years.
- Not be prohibited from entering Spain.
- Hire private health insurance.
- Fill out the application form (we’ll advise you on this.)
- Pay the corresponding fee.
When is the publication date for Spain’s new Startup Law?
The residency for remote workers and digital nomads is now available and you can begin your application.
If you require legal assistance to fully comprehend the requirements and the application process, we are here to assist you.
Our team of immigration lawyers will provide step-by-step guidance and manage the entire application to ensure a smooth process.
Complete the form below to get started today:
Ricardo Soriano 7, Marbella
+34 747 43 95 04
contact@niemarbella.com