STRATEGY
The Digital Nomad Visa
Without paying tax on assets or money held abroad for five years.
The Digital Nomad Visa allows remote workers to reside in Spain without paying tax on assets or money held abroad for five years.
The Digital Nomad Visa (Visa for Telework of International Character), is a key component of Spain’s new Law for the Promotion of Start-up Ecosystem Companies. After years of negotiation and legislative process, the law was finally approved on 21st December 2022. The main objective of the law is to attract and keep in Spain investment and flair.
The law makes it easier for non-EU nationals to work remotely in Spain and offers tax benefits to encourage them to do so.
Who can get a digital visa and what are the requirements?
You work (online) for an outside EU/EEA company or perform 20% or more of your professional activity in a Spanish company
You have worked at least 3 months before applying and you have an employment contract valid for at least 1 year
You have 3 years of work experience or you have graduated from a well-rated university or business school
Supply a clean criminal record covering the last five years
You have private health insurance in Spain
You have a bank certificate confirming that you have 25,000 euros or more on deposit and you have 9,441 euros on deposit for each family member accompanying you
If your Digital Travel Visa is approved, your spouse and supported children will be able to live with you in Spain.
How long will my Digital Nomad Visa be valid?
STRATEGY
Your Digital Nomad Visa will be valid for 1 year if you apply to your home country’s Spanish Consulate before moving to Spain. After that, you will be eligible to apply for residence for an additional 3 years. If you are applying directly in Spain while your tourist visa is valid, your digital visa is valid for 3 years and you can apply for an update after that.
What are the tax benefits of a Digital Nomad Visa?
You will qualify for preferential tax treatment once you receive your Visa. For the year you move to Spain and the following 5 tax years, you will be considered a “non-tax resident”.
Your work income will still be taxed in Spain regardless of where it’s paid/received, but the income tax rate will be reduced to just 24%.
Non-employment income earned outside of Spain is exempt from Spanish income tax.
Pension income is taxed only if it is received as a resident of Spain.
You will not be taxed on wealth or solidarity on global assets. Spanish assets will be taxed.
If you have not resided in Spain for at least 5 years and are immigrating to Spain on the basis of an employment contract, or with a digital nomad visa, you can apply for tax under this regime.
Foreign demand for housing has maintained its intense strength in the home purchase market in Spain.
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