A digital nomad visa will soon become available in Spain, allowing non-EU citizens to stay and work there for up to five years. The program, which recently received parliamentary approval, is anticipated to become law in January 2023. The action is a part of the Startup Act, a law that the Spanish parliament recently passed with the intention of encouraging entrepreneurship and trying to advance the nation’s tech scene.
Why is Spain popular with digital nomads?
Spain is already a well-liked location for remote workers because of its quick internet, affordable cost of living, and pleasant climate. Madrid and Valencia were both recently ranked among the top ten cities in the world for expats. Three of the nation’s villages topped the UNWTO’s annual ranking of the world’s top tourist destinations in December, and UNESCO has named a Spanish town the official home of Europe’s most picturesque street.
Who will be able to apply for Spain’s digital nomad visa?
People who work remotely for non-Spanish companies are eligible for the program. In order to be considered, candidates must not be citizens of the European Economic Area, have worked remotely for at least a year, and either hold an employment contract or, in the case of freelancing, have had a regular job with a business outside of Spain. Additionally, they must be able to show that they make at least €2,000 a month in order to be considered self-sufficient.
How long will digital nomads be allowed to stay in Spain?
Spanish visas for digital nomads will initially be good for 12 months. After that, remote workers can apply for permanent residency after having their visa renewed for a maximum of five years. The visa holder’s close relatives, such as children and spouses, will also be permitted to travel with them.
Will digital nomads get tax breaks in Spain?
As part of the visa program, Spain is anticipated to provide tax breaks to digital nomads who work and reside there. If current plans are implemented, remote workers may only be required to pay a tax rate of 15% for the first four years of their stay, as opposed to the standard tax rate of 24%.