The Spanish Parliament approved the new law for start-ups and digital nomads, which regulates who is eligible for this visa and plans to reduce corporate tax for these categories from 25 to 15 percent in the first four years of their stay in Spain.
According to local media, the new law will allow anyone from the EU or third countries who has not resided in Spain in the last four years to benefit from a special visa renewable for a maximum period of five years. SchengenVisaInfo.com reports.
In addition, the new law regulates that the corporate tax that applies to startups and investors be reduced from 25 to 15 percent during the first four years, and it also allows remote workers to be able to pay l The non-resident tax, which refers to workers and companies who receive income in Spain but cannot stay there for more than 183 days. Digital nomads will also be able to benefit from the same 15 percent tax rate, limited only for the first four years of their stay.
According to the new law, a new visa will allow digital nomads to stay and work in the country for up to 12 months. Once their legal stay is over, they will be able to extend it for two years and later up to five more years by requesting a residence permit to work remotely in Spain.
“It was one of the most pleasant moments I have experienced in Parliament. It is a law that will allow Spain to be at the forefront in promoting and promoting talent in this rapidly growing digital economy. said Economy Minister Nadia Calvino.
The law was adopted by 177 members, with 75 abstentions and 88 votes against, and it is expected to be ratified without much discussion in the Senate in the coming weeks. Most abstentions came from the far-right Vox party and the Catalan parties Junts and ERC, while right-wing PP deputies were against the law.
The new law follows the country’s efforts to become more attractive to businessmen and other entrepreneurs, with the country ranked in 2015 among the worst OECD countries in which to start a business.
By the end of the month, the government is expected to determine the exact amount requirements and conditions for Spanish digital nomadsincluding the minimum amount they must earn, although this amount should be around €2,000 per month.
