Spain’s new Digital Nomad Visa is now fully expected to be launched in January 2023, and it could be an absolute ‘game changer’ for remote workers who want to enjoy living and working in Spain, via an easier Visa Application process.
Part of the new Startups Act which was passed by the Spanish Government earlier this month, it’s designed to help grow the region’s entrepreneurial and tech atmosphere. Nadia Calvino, who is the Spanish Economic Affairs Minister even commented recently that ‘It will allow Spain to be at the forefront in the push and promotion of talent, in this rapidly growing digital economy’.
Already a very popular destination for tourism, expats, freelancers, and remote workers, Spain offers some of the best internet speeds in the EU, has a very comparable low cost of living, and of course there’s plenty of warm weather, so it’s fully expected that the Digital Nomad Visa will really kick off, especially when you also consider that the new Spanish Visa would give Non-EU Nationals (Yes, that now includes the Brits), the chance to live AND work for up to five years!
The scheme will only be open to those who work remotely for Non-Spanish companies and get 80% of their income from companies based outside of Spain. They will need to demonstrate a history of working remotely for at least 12 months and either have a contract from their employer, or if they are freelance have been regularly employed by companies outside of the country. It’s also likely that there will be a minimum income requirement, which experts think will be around €2100 per month, enough to demonstrate that you can support yourself whilst in Spain.
The Digital Nomad Visa benefits will also include a highly reduced rate of tax for the first four years at 15% rather than the standard 24%, which is further evidence of Spain’s ambition for the visa programme to be successful, and for them to attract talent within the digital space.
In terms of the full five years stay, as long as you meet the requirements of the Digital Nomad Visa, you’ll initially be given a 12 month term after which it can be renewed for a further four years depending on your circumstances. Once the full term is up, if you did wish to stay you’d then need to apply for full residency, or another visa (such as the non-lucrative or golden) otherwise you’d be back to the same arrangement of only 90 days visitation within any 180 day period.
There’s no official confirmation yet, as to whether applicants of the Digital Nomad Visa will need to undergo a criminal record check, but it has been confirmed that close relatives such as children and spouse’s will be able to join the visa holder in Spain, once it’s been approved.
As more and more companies are happy for employees to work remotely and are investing heavily in remote working setups, the Digital Nomad Visa is the perfect way to take advantage of Spain’s healthy work/lifestyle balance. It’s also the perfect way, if you do meet the requirements, of being able to purchase a holiday home in Spain and enjoy it more often, as you’d be able to travel anytime throughout the year, without the 90 day restriction.
If you’d like further information on the Entrepreneurship Law – you can read it here, or if you want to know about Current Rules and Visa Options you can click here.
Similarly you can also contact us here, if you have any further questions or would like help searching for your dream home in the Costa Blanca or Murcia.