Spain’s digital nomad visa will launch on March 31 and can permit eligible Britons to dwell and work within the nation for as much as one 12 months, with an choice to increase.
Proposals for the brand new visa had been first introduced in January 2022 and it’s a part of the Startup Legislation, which the Spanish authorities permitted in December.
Who’s eligible for the digital nomad visa?
The visa is meant for residents from outdoors the European Financial Space, together with UK passport holders.
Candidates will need to have an revenue from an employer or be self-employed with purchasers outdoors Spain. They’ll be capable of get a most of 20 p.c of their revenue from Spanish firms.
They need to additionally be capable of present an employment contract (and work with the corporate for no less than three months) or show that they’ve labored for firms outdoors Spain for no less than one 12 months.
Their earnings also needs to allow them to be self-sufficient. To be eligible, candidates should not have a legal document and should not have had residency standing in Spain inside the final 5 years.
How a lot tax do you need to pay?
Individuals dwelling in Spain below the digital nomad visa should pay taxes to the Spanish authorities. Nonetheless, for the primary 4 years of their residence, they’re taxed at 15 p.c as an alternative of the common 25 p.c revenue tax.
How lengthy are you able to keep in Spain with the visa?
You may initially keep in Spain for as much as one 12 months with the digital nomad visa, however visas could be prolonged for as much as 5 years. The extension would rely upon the applicant’s employment scenario.