December 1, 2022

Taylor Daily Press

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Spain wants to attract remote foreign workers on favorable terms |  Abroad

Spain wants to attract remote foreign workers on favorable terms | Abroad

Working in the Spanish sun and at the same time living is cheaper than at home. With this beautiful image, Spain wants to attract foreign remote workers from countries outside the European Union. They can also count on a favorable tax system.

Spain operates on a special visa for “digital nomads”, people who can perform their work online and are not tied to a fixed job site. They often travel and thus lead a nomadic life. Spain now wants to attract this group with attractive working conditions, linked to a new visa. This would actually amount to a residence permit, which is initially valid for one year, but can be extended for a maximum of five years. The applicant’s family members are also welcome in Spain.

But not everyone is eligible. This applies only to citizens of countries outside the European Union, such as Great Britain. Interested parties must also be able to prove that they have been working remotely for at least one year, must work for foreign companies, and a maximum of 20 percent of their income may come from Spanish companies. They must also have sufficient income to be able to provide for their livelihood and have a permanent address in Spain.

Applicants who meet all requirements and can obtain a digital nomad visa will only have to pay 15 percent in taxes instead of 25 percent for the first four years.

If the proposal for such a visa is approved, Spain will join 15 other European countries that already have a similar visa. Each country has its own conditions. For example, the minimum amount you must earn varies from country to country. In Croatia 2,300 euros per month, in Estonia and Greece 3,500 euros, and in Iceland at least 7,100 euros. Spain wants to set the cap at 2,000 euros, while neighboring Portugal, which has an income of 700 euros a month, suffices.

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The Spanish cities of Madrid, Valencia and Barcelona are very popular among European “digital nomads”. For example, Barcelona is very popular with startups. The city is also keen to become a technology hub and less dependent on tourism. The disadvantage of the “digital nomads” for residents of other cities such as Barcelona and Madrid is that expats raise rents because they are richer. The average monthly salary in Spain is 1,751 euros, about 20 percent less than the European average.