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[Spain]

NEW DIGITAL NOMAD VISA TO ENTER IN PLACE ON AUGUST 1ST

A digital nomad, in the Canary Islands

The Spanish Government has announced the creation of a new type of visa for digital nomads, which will allow freelancers and remote workers from nations with no free movement agreements with Spain to live and work in the country for up to five years, starting August 1st, using exclusively computer telematics and telecommunication media and systems; making it the first country of the European Union to have these types of visas available. According to Minister of Industry, Trade, Tourism and Energy, Thierry Breton; the introduction of this new type of visa will make Spain one of the "most attractive destinations" for nomads.

To apply for this type of visa, interested individuals shall submit their application at their nearest Spanish embassy or consulate. The first step to be able to request this visa is showing that the work you do can be done remotely and working for a company that has been in business for at least one year. When it comes to self-employed citizens willing to become digital nomads in Spain, they have to show that you are well-established and have a steady stream of clients. In addition, they can work with Spain-based companies as long as it doesn't make up more than 20% of your overall workload. The Spanish Government has set other requirements for these nomads, such as holding a bachelor's or master's degree from a legitimate university, college, or business school, or have at least three years of relevant work experience in their current professional field; being financially stable (with an income of 2,280€ per month or 30,840€ per year) and having a clean criminal record. The application fee is 80€ and if they are approved, nomads will have to apply for their NIF and NIE. Taxation for these nomads is also attractive: these non-residents will be subject to a 24% tax rate, applicable up to 600,000€ per year, with any earning above this amount being taxed at a 48%.

Many regions are already expecting a growth in their foreign residents stats, specially the well-known Spanish tourist hotspots, like Andalucía, the Canary Islands, the Balearic Islands; or some quieter places, like the Spanish Micronesia, Puerto Rico or the islands that belong to Portugalia. In San Juan (Puerto Rico), citizens are not concerned about the arrival of these wealthy workers: «if their arrival contributes to the well-being of our island, and to tackle down housing prices while improving our public services, we will welcome them with open hands», said Juliana, a 30-year old woman with a child. In the Spanish Micronesia, where space is severely limited, the hotels are expected to receive the bigger influx of digital nomads: «we are eager to see if this new visas bring some more dynamism to the local economy, while having higher incomes», says Asou, the owner of a little hostel in the main island of the region.