Dreaming of working by the beach or enjoying a siesta in-between calls? If the vibrant culture and sun-kissed terrains of Spain beckon you, it’s time you learned about Spain’s enticing Digital Nomad Visa (DNV). In today’s increasingly digital landscape, Spain is emerging as a hotspot for digital nomads, and its DNV is the golden ticket.
Unraveling the Spanish DNV
What exactly is the DNV?
The Digital Nomad Visa is tailored for non-European individuals keen on working remotely from the beautiful landscapes of Spain. Whether you’re freelancing or working for an overseas company, Spain welcomes you with open arms.
Key Prerequisites for the DNV
Here’s what you need to secure this visa:
1. Non-European: You shouldn’t be a citizen of the European Economic Area (EEA).
2. Proof of Remote Work: Your work or professional services must be feasible for remote operations.
3. Employment Check: If you’re working for an organization, ensure it’s based outside Spain and has been in business for over a year. Additionally, you should have been under its employment for a minimum of three months prior to your visa application.
4. Freelancer Criteria: Freelancers need to showcase that they’ve been offering their services primarily (80%) to clients outside Spain for at least three months before the visa application.
5. Educational/Professional Credentials: Holding a university, professional, or business degree is crucial. Alternatively, showcasing more than three years of relevant professional experience can also suffice.
Duration of Stay with DNV
The DNV is granted for 3 years renewable for successive 2 year periods. On the first anniversary, however, permanent residency can be applied, which again is renewable for successive 5 year periods and after 10 years of residing permanently, Spanish citizenship can be gained.
Including the Family
Good news for digital nomads with families! Along with you, your spouse and dependent children (both below and above 18, under specific conditions) can also soak in the Spanish experience. However, ensure you can financially support your dependents while in Spain.
Tax Implications for Digital Nomads in Spain
Ah, the tricky world of taxes! Here’s the scoop:
- Option 1 – Spanish Tax Resident: Should you opt for this, your income worldwide is taxed progressively, ranging from 19% to 47%. Further, depending on where you reside in Spain, additional taxes might apply on substantial worldwide assets.
- Option 2 – Beckham Law: Interestingly named, this law lets you pay tax as a non-Spanish resident, even if you practically reside there. Under this scheme, a flat rate of 24% is levied on employment or professional earnings up to 600,000 Euros. Anything above this is taxed at 45%. The cherry on top? Income not made within Spain remains untaxed. Plus, no additional wealth tax on assets outside Spain.
However, a word of caution – the Beckham Law means no application of double taxation agreements. Hence, it’s essential to evaluate individual situations before deciding on the tax regime.
Get Started Today!
Interested in diving deeper? Grab your copy of Scornik Gerstein LLP’s Digital Nomad Visa Guide and embark on your Spanish journey! For more information on how Oratto member solicitors can assist in your DNV application, please email contact@oratto.co.uk.
Scornik Gerstein LLP is a full-service law firm with locations around the globe. They are a multidisciplinary practice with expertise in Civil & Commercial Law, Litigation, Real Estate, Probate, Family Law, Personal Injury, Medical Negligence, Employment, Taxation, Child Abduction, Immigration and Criminal Law.
*(Please ensure that you always consult with a tax professional or advisor before making any decisions related to tax implications.)*
