Spain has enacted various laws to bring in talented people who want to start a business or invest in Spain. Spain now allows foreign investors and skilled individuals to apply for extended visas. Most importantly for our firm’s clients, Spain now has loosened up its visa and tax policies for foreign entrepreneurs and digital nomads.
1. Foreign Entrepreneurs in Spain
If you want to start a business in Spain, you need little more than a government-vetted business plan, health insurance and enough money to support yourself while living in Spain. It is quite easy for entrepreneurs to secure initial one-year Residence Visas to carry out the preliminary formalities required to engage in entrepreneurial activity. Entrepreneurial activity includes just about anything that would create jobs in Spain.
After their first year, entrepreneurs can apply for authorization to live in Spain for an additional two years, renewable for another two years. You need to live in Spain only six months out of the year to be able to secure visa renewals.
Compared to most other European and North American cities, Spanish cities such as Madrid and Barcelona have fewer competitors while offering excellent talent and technical expertise at a much lower cost. On top of this, various local and national Spanish government entities offer unsecured lending programs and Spanish law is considerably more favorable to new businesses than the legal codes of other European nations. Just by way of one example, Spain does not require a minimum investment in new businesses.
2. Digital Nomads in Spain
Earlier this month, Spain adopted new tax and law measures that will (soon) allow digital nomads to use non-resident tax status with lower rates for five years.
3. Spain Real Estate
If you want to learn about Spain Real Estate as a Foreign Investor, I urge you to go here and listen to our webinar replay on what that involves. If you want to know why now is a great time to buy real property in Spain, I urge you to read Spain Real Estate: Now is the Time. And if you want to rent, I suggest you go here to search for available rental properties throughout Spain.
Bienvenido a españa.