Tax advantages of the new telework visa

In a world characterised by an increasingly globalised economy and the growing weight of technology companies and international teleworking, it is becoming more and more important to attract talent and investment by creating legal scenarios that are suitable for entrepreneurs and digital nomads.
Given this situation, and based on current trends in international worker mobility, one of the new developments brought about by the new Startup Law passed by the Spanish government last December is the introduction of a visa for international teleworkers, which came into force on 1 January 2023. This new visa will allow self-employed persons and foreign workers to enter and stay in Spanish territory for at least five years.

At last, foreigners who want to move to Spain and work for a company abroad or who have clients all over the world will find a residence permit perfectly suited to their needs. Moreover, spouses and children can be included in the same application so that the whole family can move to Spain.
There are two different profiles of foreigners who can obtain this permit: On the one hand, there are employees whose company allows them to leave for another country (in this case Spain) and work from there, and on the other hand, there are self-employed people with several clients around the world or sources of income derived from online activities but distributed outside Spain. This visa is aimed at non-EU citizens. This is because Europeans can work in Spain for up to six months anyway and, if they want to extend their stay, they just need to apply for their NIE as a resident.

Although this permit means working in Spain for a foreign company, it is also possible to have Spanish clients as long as the income from Spanish sources does not exceed 20% of the total income.
From a tax point of view, it should be noted that once the Startup Law is officially published, digital nomads can benefit from the special tax regime that applies to impatriates in Spain (popularly known as the “Beckham Law”), which is undoubtedly a beneficial tax mechanism that allows for tax optimisation and tax savings through the payment of non-resident income tax.

This means that paying non-resident income tax instead of general resident income tax allows you to pay much less on the income you earn. If you have not been resident in Spain for the last 5 years, you can pay a flat tax rate of only 24% instead of a progressive rate of up to 48%.

To be considered a non-resident for tax purposes, you must submit a separate application to the Spanish tax authorities from your residence permit application, within six months of receiving your residence permit.
Finally, digital nomad visa holders can apply for IRNR deferral in the first and second year with a positive tax base (excluding interest). This advantageous tax regime will be extended for 5 years as long as you maintain your residence, after which you will be transferred to the general regime.

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