New Visa for Digital Nomads in Spain
Since the United Kingdom left the European Union in 2020, the process of moving abroad has become significantly more difficult for British Citizens wanting to move to Spain. Navigating the different visa types has become somewhat of a minefield for many people, and that’s without mentioning the stringent financial requirements that applicants need to meet before gaining residency!
Until now, there were very few options available to those wanting to move to Spain and work, but in the past few months, Spain has announced the creation of the Digital Nomad Visa, a new residence permit that allows non-EU citizens to live and work remotely in Spain.
If you’re looking to learn more about this exciting new residency option in Spain, then keep reading our blog to find out more!
What is the Digital Nomad Visa?
The Digital Nomad Visa is a residence permit that can be extended for up to 5 years and allows people to live and work in Spain remotely. In a bid to attract foreign investment and talent, as well as boosting entrepreneurship in Spain, the Spanish government created this new visa for specifically for digital nomads and remote workers to relocate to Spain.
Other visas, such as the popular Non-Lucrative Visa (NLV), allows British citizens to move to Spain, but it doesn’t permit them to carry out any work or economic activity. Now, those who want to work remotely from Spain for a company outside Spanish territory, will finally be able to start their new life in Spain.
Benefits of the Digital Nomad Visa
One of the most convenient advantages of the Digital Nomad Visa is the relatively easy and speedy application process. Unlike other visas, applicants can choose to apply either from Spain on a tourist visa or in their country of origin. They can even include their spouse and children on the same application, meaning that the whole family can move to Spain and even move freely within the EU. Applications are processed quicker than the other visa routes too.
Tax Benefits of the Digital Nomad Visa
Another attractive benefit of the new Digital Nomad Visa is the tax regime associated with it. Simply put, it will allow visa holders to be taxed through the Non-Resident Income Tax Regime, which offers a specially reduced tax rate for the income they generate. Applicants can benefit from this scheme for 5 years after obtaining the Digital Nomad Visa, after which they will then switch to the general scheme.
Requirements of the Digital Nomad Visa
There are 2 main types of remote workers that can obtain the Digital Nomad Visa in Spain:
- Employees of a company that allows them to travel and work remotely from a different country
- Self-employed workers with multiple different sources of income from around the world
Applicants will also need to meet the following conditions in order to apply for the Digital Nomad Visa:
- The company of the employee must be located outside of Spain
- Of the total worldwide income earned by the applicant, Spanish companies cannot represent more than 20% of it
- Employees must have been employed by, or have a freelance relationship with their clients, for at least 3 months prior to the application, and have a contract with that same company/client for at least 1 year
- Have at least €25,000 in the bank (for the primary applicant) and €9441 for each additional family member, and be able to demonstrate a stable monthly income
- Obtain private health insurance with coverage throughout Spain
- Demonstrate a clean criminal record
How to apply for the Digital Nomad Visa
If you’re looking to apply for the Digital Nomad Visa in order to move to Spain, you will need to apply either directly at a Spanish consulate in your home country, or enter Spain on a tourist visa and apply within 3 months of your arrival. You can check out the Spanish government’s website for further information.
Moving to Spain with Idiliq Estates
If you’re looking to move abroad to the Costa del Sol, Idiliq Estates are on hand to help you find your dream property, all the way from Málaga to Sotogrande!
With over 40 years of experience in real estate on the Costa del Sol, we understand the significance of finding the perfect property that not only meets your expectations, but also fulfils your dreams. As a trusted and experienced real estate agency on the Costa del Sol, we’re expertly placed and committed to helping you get started on your journey to owning a home in Spain.
Our team have helped hundreds of our clients over the years to find their dream properties in Marbella, Puerto Banus, Estepona, Fuengirola, Mijas Costa, Benalmádena, Benahavis and beyond. So, whether you’re looking for a luxury villa in the hills, a stylish townhouse or a contemporary apartment, we’re here to provide a personalised experience like no other.
Get in touch with our team today and let’s get the ball rolling!