What to expect from Spain’s New Digital Nomad Visa. Expert legal advice by White-Baos Lawyers

A digital Nomad Photo Credits:DoDo PHANTHAMALY

Before the end of the year or in the first quarter of 2023 (at the latest) Spain is expected to approve the new Start-ups Law. Among the many changes anticipated by this regulation, the creation of a Digital Nomad Visa stands out. Why is this special Visa so important?

In today’s article we analyse its main purpose and the innovations it could bring.

The pandemic has definitively established teleworking as an increasingly solid option for millions of employees. More and more people, computer in hand and with a good internet connection, can work seamlessly from anywhere, without the need of going to a physical office. Something unthinkable a few years ago.

However, this new way of working does not always fit in with current regulatory frameworks. The Digital Nomad Visa aims to provide a solution to this problem. How? By regulating in a simpler way, the requirements of entry and stay in Spain for all those who work remotely to a business located abroad.

There are already many countries around us that have adapted their laws to this new phenomenon. Croatia, Czech Republic, Finland, Hungary, Malta and Portugal are some examples. The Spanish government intends to follow this trend. Although we still do not know in detail the requirements that will be demanded, there is speculation that they could be the following:

1. Accreditation of a certain economic capacity (still to be specified). As a reference, in Portugal, the minimum income required is €2,800 per month. In Croatia, the amount is set at €2,300.

2. The majority of the earnings of these workers must come from foreign companies (at least 80% of their income).

3. They may be required to take out private health insurance.

The focus of this law is to attract international investment and talent, as well as to boost digital entrepreneurship. What are the main advantages of this special visa. Firstly, a 1-year residency, extendable, apparently, for 4 more years, up to a total of 5 years. And also, a reduction in the non-resident tax rate. Currently, the average tax rate is set at 24%, and for these digital workers, it could be lowered to 15%.

As soon this Visa is approved, we will inform you in depth about its details and requirements. For the time being, if you have any questions about existing residence permits (such as the Golden Visa, Non-Lucrative Visa) please do not hesitate to contact us. We will offer you expert advice on the subject.

You may be interested in the following services and articles:

How long can a tourist be in Spain? Tourist stays in Spain. The 90/180 day rule. The Schengen area. Legal advice about stays and residences in Spain

Obtaining Spanish nationality. Marriage to a Spanish national. Residence in Spain. Legal procedure

Tax residency in Spain. Determination criteria. Consequences of being considered a tax resident.

Carlos Baos (Lawyer)

White & Baos.

Tel: +34 966 426 185

E-mail: [email protected]

White & Baos 2022 – All Rights Reserved.


 Thank you for taking the time to read this article. Do remember to come back and check The Euro Weekly News website for all your up-to-date local and international news stories. Remember, you can also follow us on Facebook and Instagram 

FacebookTwitterRedditWhatsAppTelegramLinkedInEmailCopy Link
Go Back
Written by

Euro Weekly News Media

Share your story with us by emailing [email protected], by calling +34 951 38 61 61 or by messaging our Facebook page www.facebook.com/EuroWeeklyNews

Comments


    • John

      06 November 2022 • 17:12

      Do you think the Spanish visa will lead to the option for citizenship after 5 years like Portugal?

      Reply

    Leave a comment

    Your email address will not be published. Required fields are marked *