The Spanish Parliament approved a new law for startups and digital nomads. It provides for a reduction in taxes for these categories from 25 to 15 percent during the first four years of their stay in Spain.
The new law applies not only to EU citizens but also to all third countries. Thus, anyone who has not lived in Spain permanently for the past four years can use a special visa.
Corporate tax for start-ups and investors for the first four years will be preferential: not 25 percent, but 15. That is, remote workers will be able to pay tax on non-residents, which applies to employees and companies that receive income in Spain but are not in the country over 183 days.
Holders of the new visas will be allowed to legally stay and work in the country for 12 months. Once this period expires, digital nomads will be able to extend it first for two years and then for another five years. To do this, you will need to submit a set of documents and obtain a residence permit as a remote worker in Spain.
The law was passed by 177 members of parliament with 75 abstentions and 88 against. It is expected to be ratified without much discussion in the Senate in the coming weeks.
In 2015, Spain ranked as one of the worst countries to start a business in the OECD (Organization for Economic Co-operation and Development) and today is making a lot of efforts to become more attractive to businessmen and other entrepreneurs.
By the end of November, the government is expected to determine the exact requirements and conditions for digital nomads, including the minimum amount they must earn. It is expected to be approximately 2,000 euros per month.