Startups and Digital Nomad Visa Law

The much-awaited startups and digital nomad visa law have received its final stamp of approval in the Spanish parliament. The Senate approved the text with some slight changes, and it has just passed through Congress for the second and last time.

UPDATE – The Digital Nomad Visa law was passed on December 23rd, 2022; you can start your Digital Nomad application here.

Startups law and digital nomad visa ready to go 

In early November, the Spanish parliament passed the text for the startups law that includes the provision for the digital nomad visa. The law has now received the thumbs up from the Senate and its definitive approval in Congress. 

In practical terms, the latest events mean that the law is now ready to come into effect. The final stage will be published in the official bulletin (boletín oficial del Estado/BOE), expected imminently. 

At Costaluz Lawyers, we expect the publication to happen early in the New Year, meaning that Spain will have its startups and digital nomad visa law in January. 

Read all about the digital nomad visa

Highlights in the new law 

The highly anticipated law includes the following main benefits for startups and digital nomads: 

Fiscal advantages for startups

Stock options in startup companies (up to 5 years old or 7 years old if it’s a biotechnological company) will only be taxed when sold by their holders. Furthermore, the first €50,000 is exempt. 

Digital nomads 

As well as lower tax rates for the first four years, the new digital nomad visa allows remote workers to live and work in Spain for five years. They may also include their dependents as part of the residence permit. 

As concerns the fiscal advantage, the tax rate for employees holding the Digital Nomad Visa will be 24% up to 600,000 euros. From 600,000.01 euros onwards, the tax rate will be 47%.

Independent professionals and investors 

They have a preferential income tax rate of 24% for five years and will only be obliged to declare their assets in Spain. Those outside Spain are exempt. In addition, their partners and dependents may also benefit from these tax perks.

Find out about other visa options in Spain

Tax benefits for investors in startups 

Individuals who invest in startups will enjoy considerable fiscal advantages. For example, the first €100,000 invested is exempt from tax, and after that, the deduction stands at 50%. 

Extended residence permit for students 

Non-EU students who are in Spain may extend their residence visa by two years to work once their studies have finished. 

New digital nomad visa service 

We’ve just introduced a new digital nomad visa service at Costaluz Lawyers. It includes:

  • Advice and help with organising the paperwork for your application.
  • Submission of the application on your behalf to the appropriate authorities.
  • Tracking your application and its progress.
  • Organising your appointments at a Consulate abroad and/or the authorities in Spain.

The new service costs from €1,500 and include additional benefits. 

Get in touch with our team now for more information or start your Digital Nomad Visa application today.

Maria Luisa Castro

Director and Founder
María founded CostaLuz Lawyers in 2006 and is the Firm’s Director. María is registered Lawyer number 2745 of the Cadiz Bar Association and is licensed to practice in all areas of law throughout Spain. Working closely with her team, María has developed the firm into one of the most highly regarded and trusted Spanish Law Firms acting for English-speaking clients with legal problems in Spain. We’re here to help. Contact us today for a free, no-obligation, initial legal orientation.
María Luisa De Castro - Costaluz Lawyers
 

2 thoughts on “Startups and Digital Nomad Visa Law Gets Final Parliamentary Approval”

    1. MARIA LUISA CASTRO

      Hi David,

      This visa is for third-country nationals; as you are an EU citizen, you will not be able to apply for this visa. You will only need to register as an EU citizen in Spain.

      We will be very pleased to help you with this.

      Thank you.

Leave a Comment

Your email address will not be published. Required fields are marked *