Spanish Parliament approves new law for start-ups and digital nomads
It regulates visa eligibility and reduces Corporate Tax
A new law in Spain specifically for those starting businesses or working remotely in different countries has had Parliamentary approval.
It enables anyone from an EU or third country that hasn’t been a resident in Spain in the past four years to benefit from a special visa, which can be renewed up to five years.
Therefore, digital nomads can work in Spain for up to 12 months. Once this stay has ended, they can extend by two years, then up to another five by applying for residence authorisation to be a remote worker in Spain.
Additionally, Corporation Tax will be reduced from 25 to 15 per cent in the first four years for start-ups and investors. Remote workers can pay the Non-Resident Tax, which is for individuals and companies who receive income in Spain, but cannot stay there for more than 183 days. They will also benefit from the same tax rate of 15 per cent, limited to the first four years of their stay.
Economic Affairs Minister Nadia Calvino said: “It’s one of the most enjoyable moments I’ve experienced in the Parliament. It’s a law that will allow Spain to be at the forefront in the push and promotion of talent in this rapidly growing digital economy.”