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Date Published: 15/12/2022

ARCHIVED - What are the tax breaks available with the new Digital Nomad Visa in Spain?

ARCHIVED ARTICLE -

Digital Nomads under Spain’s new Visa program will be able to get juicy income tax benefits, but how much could you save exactly?

<span style='color:#780948'>ARCHIVED</span> - What are the tax breaks available with the new Digital Nomad Visa in Spain?

Spain is expected to pass the law finally approving its Digital Nomad Visa this month, to allow Brits and other non-EU citizens to get a visa to live in the country for more than 90 out of each 180 days, while working remotely for a company outside of Spain.

One important point to be aware of is that Spain’s Digital Nomad Visa will only be available to people who hold a university degree or professional recognised equivalent, and who have three years of professional experience, one of which must be with the existing company.

As well as allowing Brits to live for between one and three years in Spain while working remotely, with the option to extend up to five years (depending on existing residence position), the visa will provide successful applicants with certain tax benefits.

What are the tax advantages of the Digital Nomad Visa?

Professional Tax Lawyer based in Spain, Isaac Abad, says that, “Taxwise, the new visa may allow ‘Digital Nomads’ to benefit from the Special Tax Regime for Non-Residents’ Income Tax with similar conditions to the existing Beckham Rule.

“The Beckham law in Spain is a special tax regime for expats which means that foreigners living in Spain can pay tax on their employment income as non-residents at a flat rate of 24% up to 600.000 euros a year and 47% above that.”

Abad points out that under the Digital Nomad Visa, “the period during which a taxpayer must have been non-resident in Spain to qualify for the Special Non-Resident Income Tax Regime is reduced from the current 10 years to 5 years.”

The regime will also be extended to include the spouse, civil partners, children and dependents of the Visa holder.

“The Non-Resident Income Tax Act will be amended to exempt stock options, as well as other income from work in kind, under the same conditions as personal income taxpayers,” says Abad.

For assistance benefitting from the tax regime in Spain that is best for you, consult a Tax Professional at Abad Abogados

See also: What are the requirements to be eligible for the Digital Nomad Visa in Spain 2023?

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Abad & Asociados Abogados y Economistas, S.R.L. is a firm of English-speaking lawyers and accountants founded in 1996 in Murcia by Isaac Abad, winner of the “Best Lawyer 2022” award in Tax Law in Murcia granted by “Best Lawyers”.

The Abad Abogados Murcia law firm specialises in offering innovative legal solutions to its clients, prioritising quality, satisfaction and success. With offices in central locations in Murcia city, Los Alcázares and La Zenia in Orihuela Costa, Alicante, it is easy for expats and foreign citizens abroad in Spain to access the legal services they need.

The team at Abad can help you with any issues relating to Real Estate and Property law, Taxation, Litigations and Commercial law in Spain. From getting a NIE number in order to Abad Abogados English-speaking lawyers in Murcia and Los Alcazares

be able to undertake official paperwork in Spain, to completing your residency and visa requirements, they are there to ease every step of the move to Spain for people wanting to come and live in the country.

They can also handle any resident and non-resident tax declarations in Spain, including property taxes and issues surrounding double taxation across international borders, as well as inheritance tax and wills.

Whether you want to formally register your own business in Spain, take someone to court or face being taken to court yourself for whatever reason, Abad & Associates will be by your side.

Their unqualified successes in helping clients navigate these issues have made Abad Abogados one of the leading firms of Lawyers and Accountants and Tax Advisors in the Region of Murcia and in Alicante province.