Like in many countries around the world, Spain has also adjusted visas for the so-called ‘digital nomads’. This leads to people from many countries around the world to move to Spain if they work remotely, as long as they meet certain requirements established.
Foreigners from outside the EU can apply for a residence permit for international teleworking in order to carry out a professional activity remotely for companies located outside the national territory.This can be done through the use of computer, telematic and telecommunication means and systems.
In the event of carrying out a professional activity, the holder of the authorization for international teleworking may only work for companies located outside the national territory.
Should a professional activity be carried out, the holder of the authorization for international teleworking will be allowed to work for a company located in Spain, provided that the percentage of such work does not exceed 20% of the total of their professional activity.
The main advantage of residing in Spain under a digital nomad visa is its special tax situation. They are only taxed at 24% on their income from work (up to a maximum income of 600,000€, because beyond that they are taxed at the general rate of 47%), leaving any other income generated outside Spain such as dividends, capital gains, income from leases, etc. untaxed. They are also exempt from paying the Wealth Tax for any property outside Spain.
The requirements to be able to benefit from this very advantageous regime are as follows:
-Accreditation of being graduates or postgraduates from universities of recognized prestige, professional training and business schools of recognized prestige or with a minimum professional experience of three years.
-The existence of real and continuous activity on the part of the company with which the applicant is contracted.
-Documentation accrediting that the professional relationship can be performed remotely.
-Accreditation that the professional relationship between the applicant and the worker has existed for at least three months, as well as documents proving the terms and conditions of the remote activity.
-Contracting a private medical insurance with full coverage in the Spanish territory or registering in the state’s freelance register.
-Not having been a tax resident within the last 5 years.
Considering the rise of teleworking in Spain, this regime can be very attractive to draw professional talent to the country. If you are a citizen of a non-EU country, and have the option of teleworking, it may be worthwhile to settle in Spain considering all the advantages that the Costa del Sol has to offer.