Add sunny Spain to the list of countries courting remote workers and digital nomads, as the country is launching a new digital nomad visa early next year that will allow non-European citizens to live in Spain for up to five years and receive substantial tax breaks.
Spain introduced this plan a few months ago but now it appears to be finalized, receiving approval from the Spanish Parliament to allow start-ups and digital nomads to live and work in the beautiful country beginning January 2023.
Tourists already flock to Spain by the millions due to the amazing weather and quality of life, but those wishing to stay and work had trouble doing so without the right permits or documents to keep them longer, legally.
Anyone from the EU or third countries will be eligible for the startup law, provided they haven’t been living in Spain for the last five years, and workers will be able to gain access to a special visa that can be renewed for up to five years.
Highlights of the bill:
Startups and investors will benefit from a reduction in Corporation Tax of 25 to 15% during the first four years.
Remote workers will be able to pay Non-Residents Tax (IRNR).
Nomads can also enjoy the same 15% reduced tax rate for only four years.
The conditions and requirements digital nomads will have to meet are not yet confirmed, but experts believe the government may set minimum earnings of around €2,000 per month to qualify.