By Euro Weekly News Media • 03 November 2022 • 9:46
A digital Nomad
Photo Credits:DoDo PHANTHAMALY
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.
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