Spain’s Digital Nomad Visa

Raymundo Larraín Nesbitt, January, 8. 2024

Inset photo: James, busy at work from his Spanish ‘office’ (tie is optional)

Marbella-based Larraín Nesbitt Abogados (LNA) has over 21 years’ taxation & conveyancing experience at your service. We offer a wide range of 50 legal and corporate services. Our team of native English-speaking lawyers and economists have a long track record successfully assisting expats all over Spain.

You can review here our client’s testimonials.

Article copyrighted © 2024. Plagiarism will be criminally prosecuted

By Raymundo Larraín Nesbitt
Director of Larraín Nesbitt Abogados
8th of January 2024

Introduction

Spain’s new Digital Nomad Visa (DNV) has taken the visa market by storm! Fancy working remotely from a beach in Spain, sipping a mojito with 21 degrees in good company paying almost no tax (*)? The DNV has you covered!

The DNV offers unique tax advantages that no other Spanish visa can hope to match, not even a coveted Golden Visa. Its main outlier, and what distinguishes it from other available visas, is precisely the wide array of tax benefits it offers. The DNV has been purposely devised so successful applicants pay few taxes in Spain; the purpose is to incentivize overachievers to relocate and work (remotely) in Spain.

The DNV is modelled after Beckham’s Law, enacted in 2015, and which applies to EU nationals which in turn was inspired by the UK’s wildly popular Non-Domiciled taxpayer scheme. The DNV applies to non-EU nationals and offers basically the same tax advantages as Beckham’s Law.

It’s a legal fiction whereby a non-EU taxpayer is treated as a non-fiscal resident in Spain, but for administrative purposes, they are regarded as fully resident in Spain. The tax significance of this nuance simply cannot be understated enough and opens the door to a slew of tax benefits I collate below.

(*) Precisely because of its huge tax advantages, the law time-gates them to a maximum of five years plus one.

Needless to say, a DNV makes you tax resident in Spain (that’s precisely the whole point!).

Because of its nature (to attract talented individuals), and similar to Golden Visas, all DNV applications are fast-tracked. In under 3 weeks you know if your application has been successful.

In a nutshell, the DNV is all about paying (very) low income tax, or none at all (as assets & interests held abroad Spain go untaxed!)

DNV tax benefits

  • All income & assets held abroad go untaxed. In other words, any source of worldwide income is tax-exempt (just like with the popular UKs non-dom tax scheme). The only exception is any income derived abroad from working.
  • DNV holders only pay tax strictly on the income they derive working remotely in Spain for a foreign employer. They will pay a flat tax rate of 24% on the first €600,000 of gross annual earnings over a five-year period.
  • They are not required to file a 720 tax return (unlike Spanish tax residents)
  • They are not required to file Wealth Tax (unlike Spanish tax residents)
  • You can request to defer the payment of tax on the first and second year without penalties or delay interests being rolled on top (as is standard)
  • For the purposes of other tax agencies, you are considered tax resident in Spain.

General staple requirements

  • Non-EU national.
  • Hire private health insurance from an approved health provider in Spain (you need to be under 75 years old), or
  • Enrol in the Social Security
  • Clean criminal record (previous 5 years).
  • Be self-supporting (you will not claim benefits from the state): you need to show a minimum bank balance of €30,000 for the main applicant (recommended amount is €34,000). A further €7,200 for every dependent (recommended amount is €8,400).
  • Not be already in Spain illegally at the time of making a visa application.

DNV specific requirements

  • If employed, you need to prove you are hired by a foreign company. You need to have been working for this employer for at least 3 months prior to making a DNV application. A work contract is the core requirement (12 months, or more). A copy of your job contract will be required. Alternatively, if self-employed (freelancer), a letter from the company stating you are self-employed, and company records proving it has been operational for over 12 months.
  • You need to supply a copy of holding formal academic qualifications i.e. a university degree, business school, or professional qualification, or,
  • alternatively, you need to prove you have at least 3 years of work experience in the job position you are being hired for.
  • Not to have resided in Spain during the previous 5 years of making an application.
  • Not to obtain income from a permanent establishment in Spain.

 

LNA has a 100% track record attaining Spanish residency

At Larrain Nesbitt Abogados, we have assisted hundreds of non-EU nationals, and their families, to successfully attain a Spanish residency permit since 2013.

Interested? Come and speak to Larraín Nesbitt Abogados’ friendly staff who will be pleased to guide you through the different residency options, choosing the one that appeals to you most.

Your family’s success is only one call away: (+44) 07543 838 218, or (+34) 952 19 22 88.

Larraín Nesbitt Abogados, small on fees, BIG on service.

Residency services available from LNA:

 

Please note the information provided in this article is of general interest only and is not to be construed or intended as substitute for professional legal advice. This article may be posted freely in websites or other social media so long as the author is duly credited. Plagiarizing, whether in whole or in part, this article without crediting the author may result in criminal prosecution. Ní neart go cur le chéile. VOV.

2.024 © Raymundo Larraín Nesbitt. All Rights Reserved.

... Read more

Spain’s Golden Visa: 10 reasons to apply

Raymundo Larraín Nesbitt, December, 1. 2023

Lawyer Raymundo Larraín highlights the main advantages of Spain’s Golden Visa.

Marbella-based Larraín Nesbitt Abogados (LNA) has over 21 years’ taxation & conveyancing experience at your service. We offer a wide range of 50 legal and corporate services. Our team of native English-speaking lawyers and economists have a long track record successfully assisting expats all over Spain.

You can review here our client’s testimonials.

Article copyrighted © 2023. Plagiarism will be criminally prosecuted. 

By Raymundo Larraín Nesbitt
Director of Larraín Nesbitt Abogados
8th of December 2023

Introduction

Spain has undergone a spectacular property boom over the last 8 years, only marred by the Covid pandemic in 2020. In coastal areas and large cities, properties have almost tripled in price since 2015.

During this time, the Spanish Government introduced two new immigration schemes which have rocked the game board: Beckham’s Law in 2015 and the Digital Nomad Visa in 2023. Both mirror each other; the former is devised for EU nationals and the latter for non-EUs. They introduce a swathe of enticing tax advantages with an aim to attract foreign talented individuals, both from the Union and non-EU. Over 10,000 people benefit from Beckham’s Law lenient tax breaks (which apply nationwide, regardless of where you settle down in Spain).

We learned in a post-pandemic world that working remotely is not only a possibility, but frankly a necessity for many. For those who are able to escape the foul weather of their home countries, and seek the warmth and light of milder climates, all year round, coupled with ultra-low taxation, these new immigration schemes prove a temptation too hard to resist. So, why even fight temptation? It’s simply smarter to give in.

Starting life anew abroad is a compelling idea that lurks in the minds of millions day to day. But in reality, only a handful musk the courage to break away from the constraints of narrow-minded traditional work moulds that hearken back to previous centuries. Working remotely from Malaga on your laptop with 21 degrees, whilst paying little to no tax, is no longer an unreachable dream, it’s a reality made true for thousands of individuals. Break away from the heavy chains of social conventionalisms, and carve your own path in life, embrace a new lifestyle befitting of the 21st Century.

However, despite the roaring success of the above two immigration schemes, the undisputed king of all visa permits still remains to this day the coveted, and often elusive, Golden Visa, introduced in 2013. It is the only visa in Spain which does not make you automatically tax resident on attaining it. The unmatched freedom and choice it confers its privileged applicants cannot be overstated enough. It’s a blue-ribbon visa that throws the red rug at their feet allowing them unfettered access to Spain and the Schengen Area beyond (27 countries).

Law firm LNA gets you, and your family, a golden visa in under 3 weeks.

Capture-arabic

 

shutterstock-792334951

10 reasons to apply for a Golden Visa in Spain

 

  • Tax - A Golden Visa does not automatically make you tax resident in Spain, unlike every other visa in Spain. This is a unique trait exclusive only to GVs. No other visa in Spain shares this unique (tax) advantage. Only for this reason, affluent investors find it most appealing.
  • Freedom - Allows you to override the 90/180-day that limits stay in Spain (and by extension the Schengen Area/European Union).
  • Autonomy - Allows unfettered access to Spain. You can enter and leave the country as you please, even overriding Covid flight bans, as you will hold a select residency permit that (very) few people have.
  • Choice - No minimum stay is required. You can spend as little as one day, or the full year-round in Spain, at your choice.
  • Clear rules - Initially on a 3-year stay, then on 5-year renewals.
  • Family – all are included as dependents.
  • Fast-tracked. Golden visa applications are greatly expedited by rapport to standard visa applications. Golden visas are granted in 3 weeks.
  • Work - You can work in Spain. Unlike other visas, which ban you from working in Spain, it allows you and your family the right to work in Spain (optional).
  • Leads to permanent residency (optional).
  • Leads to Spanish citizenship (optional).

 

ancient-Chinese-proverb

 

shutterstock-278316929

Conclusion

Control your own destiny, pay less taxes, and enjoy with your loved ones a new life in a beautiful country at the heart of Western Europe.

Interested? Come and speak to Larraín Nesbitt Abogados’ (LNA) friendly staff who will be pleased to guide you through Spain’s Golden Visa programme. On applying for a Golden Visa, we assign you one of our seasoned immigration lawyers, who will be assisted by an in-house visa specialist, guiding and handholding you throughout the whole procedure, from start to finish.

Did I mention LNA attains Golden Visas in under 3 weeks?

Life is simply too short not to be lived.

For those few who want to make the most out of it:

Golden Visa (Investor Visa)

 

At LNA we have made true the dreams of hundreds of non-EU investors, and their families, assisting them to attain a Golden Visa since its inception in 2013. You can browse our clients’ visa testimonials here.

Your family’s success is only one call away:

UK: (+44) 07543 838 218

Spain: (+34) 952 19 22 88

 

The only way to get rid of a temptation is to yield to it.” – Oscar Wilde

Oscar Fingal O'Flahertie Wills Wilde (1854 – 1900). Was an outstanding and brilliant Irish poet and playwright. He is best remembered for his epigrams and plays, and his novel The Picture of Dorian Gray, featuring the soulless ever-young Victorian aristocrat. My personal favourite is The Selfish Giant. He died young, incarcerated by narrow-minded social conventionalisms, both figuratively and literally, he was unable to escape. Simply, he was one-of-a-kind.

Residency services available from LNA:

 

Please note the information provided in this article is of general interest only and is not to be construed or intended as a substitute for professional legal advice. This article may be posted freely in websites or other social media so long as the author is duly credited. Plagiarizing, whether in whole or in part, this article without crediting the author may result in criminal prosecution. No pact with the devil was made on writing this article. Ní neart go cur le chéile. VOV.

2.023 © Raymundo Larraín Nesbitt. All Rights Reserved.

... Read more

Beckham’s Law Explained (Spain’s Non-Domiciled Tax Scheme)

Raymundo Larraín Nesbitt, November, 1. 2023

Lawyer Raymond Nesbitt explains to us one of four legal ways to bypass the pesky 90/180-day rule that now affects all UK nationals post-Brexit.

Marbella-based Larraín Nesbitt Abogados (LNA) has over 20 years’ taxation & conveyancing experience at your service. We offer a wide range of 50 legal and corporate services. Our team of native English-speaking lawyers and economists have a long track record successfully assisting expats all over Spain.

You can review here our client’s testimonials.

Article copyrighted © 2023. Plagiarism will be criminally prosecuted.

 

By Raymundo Larraín Nesbitt
Director of Larraín Nesbitt Lawyers
1st November 2023

 

In 2015, Spain introduced a special tax regime for wealthy EU expatriates who relocate to Spain. Following in the footsteps of other countries’ successful non-domiciled tax schemes, namely the United Kingdom, the self-declared goal of this programme is to attract high achievers to relocate to Spain on the back of a job offer. The typical taxpayer profile that qualifies would be a high-profile artist, techy, high-ranking corporate employee, etc. Over 10,000 foreigners settled in Spain have benefitted from this special tax arrangement.

In a nutshell, this tax scheme allows EU nationals to make spectacular tax savings on paying Income Tax in Spain (IRPF). If you opt into this scheme, you stand to benefit from substantial tax breaks on both income derived in Spain as well as worldwide income.

On opting into this special tax regime, a legal fiction takes place whereby EU expats are treated (for admin purposes) as if they are a resident taxpayer in Spain. Albeit in practice, for tax purposes, the taxpayer is regarded as a non-resident. Meaning you in fact get the best of both worlds; you get all the perks from being legally resident in Spain, yet you pay a substantially lower tax bill as you are deemed in practice as a non-resident taxpayer.

 

Who can apply?

 

  • Any European Union national relocating to Spain as a result of a professional contract. You need to be hired by a Spanish company or else by a foreign company with a permanent establishment in Spain. The contract is the core requirement to opt into this tax scheme. Non-EUs may also apply but may require a visa to live and work in Spain. Non-EUs are advised to benefit instead from a Digital Nomad Visa, which offers almost identical tax benefits and is also a visa permit.
  • Not to have resided in Spain on the previous 10 years.
  • No earnings derived from a permanent establishment in Spain.

 

The tax benefits

 

  • Spanish income. The first €600,000 earned from a source within Spanish territory will be taxed at a flat rate of 24% (in lieu of the standard top marginal rate of 47%). As can be surmised, even for earnings whose source is derived exclusively in Spanish territory, the tax savings are huge.
  • Worldwide income. However, it is here where this tax scheme truly shines and comes into its own. Spanish Tax Authorities only tax you on your income derived within Spanish territory. Meaning, any other source of worldwide income is tax-exempt (just like with the popular UKs non-dom tax scheme). Needless to say, this unique tax advantage offers a hugely attractive prospect for those taxpayers with substantial earnings, assets, and interests overseas. The only exception is any income derived abroad from working.  
  • Exempt from submitting tax return 720
  • Exempt from submitting wealth tax *
  • Five years plus one. Because of its outstanding tax advantages, the government time gates the tax benefits. It applies on the fiscal year of relocation as well as on the following five years (total up to six years).

 

*contingent on the value of your Spanish estate.

 

Potential disadvantages

 

  • As written above, a legal fiction applies whereby you are regarded as a non-resident taxpayer (non-domiciled). The implication of this is that as you are not regarded as a tax resident, you may not benefit from lenient tax allowances on personal income tax as would be standard practice.
  • This tax scheme only works out if the taxpayer's country of origin has a double taxation treaty in place with Spain.

 

Conclusion

Beckham’s Law addresses a gap for high-end professionals who wish to relocate to Spain (on the back of a job contract), alone or with their families, and enjoy all the country has to offer, including ultra-low taxes, regardless of where they settle down in Spain i.e. in Mallorca.

If you are a high-flyer, don’t fancy paying many taxes, and wish to relocate to Spain (legally), this is the tax scheme for you. Give us a call!

In effect, this blue-ribbon tax scheme allows you, and your family, to get the best of both worlds; you get to enjoy all the perks of being legally resident in Spain albeit you are fiscally treated as a non-resident taxpayer, paying little to no tax. In my book, that’s a win-win.

At Larrain Nesbitt Abogados, we offer the following immigration service: Beckham's Law

 

I don’t do anything unless I can give it 100%.”David Beckham

David Robert Joseph Beckham (1975). OBE. Born in a humble background, from a young age he became a footballer, quickly rising through the ranks given his innate talents, becoming England’s captain. He retired after a very successful 20-year career, during which he won 19 major trophies. He married a spicy posh businesswoman, and they’ve had four children. He’s a known philanthropist who has created several football academies to benefit children who come from deprived backgrounds. Surprisingly – and most annoyingly – he hasn’t been bestowed (yet) the title of ‘Sir’, despite others attaining it with half of his accomplishments.

Residency services available from LNA:

 

Please note the information provided in this article is of general interest only and is not to be construed or intended as a substitute for professional legal advice. This article may be posted freely in websites or other social media so long as the author is duly credited. Plagiarizing, whether in whole or in part, this article without crediting the author may result in criminal prosecution. Ní neart go cur le chéile. VOV.

2.023 © Raymundo Larraín Nesbitt. All Rights Reserved.

 

... Read more

Spain’s Non-Lucrative Visa Explained (Pensioner’s Visa)

Raymundo Larraín Nesbitt, October, 9. 2023

Lawyer Raymond Nesbitt explains to us one of four legal ways to bypass the pesky 90/180-day rule that now affects all UK nationals post-Brexit.

Marbella-based Larraín Nesbitt Abogados (LNA) has over 20 years’ taxation & conveyancing experience at your service. We offer a wide range of 50 legal and corporate services. Our team of native English-speaking lawyers and economists have a long track record successfully assisting expats all over Spain.

You can review here our client’s testimonials.

Article copyrighted © 2023. Plagiarism will be criminally prosecuted.

 

By Raymundo Larraín Nesbitt
Director of Larraín Nesbitt Lawyers
8th of October 2023

The non-lucrative visa has proven wildly successful over the last few years. The typical applicants are a retired couple who wish to spend their twilight years enjoying the very best of the gorgeous Spanish weather & fine food at affordable prices.

Please note this visa service is only open to non-EU residents (i.e. British). NLVs make you tax resident in Spain.

NLV general requirements

  • Not to be already in Spain illegally at the time of making the application.
  • Clean criminal record (previous 5 years).
  • Hire your own health or medical insurance (full coverage) with a Spanish healthcare provider (applicants must be under 75 y.o. to apply).
  • €29,000 in savings for the main applicant. For every additional dependant, you need to add a further €8,000.
  • You must not suffer from any of the diseases that may have serious public health repercussions.
  • Proof you can secure accommodation in Spain.
  • You cannot work in Spain, you can also not be working at the time of making the application.

 

LNA offers the following visa service (Ts & Cs apply): Non-Lucrative Visa

What’s holding you back from enjoying a well-earned retirement? Give us a call.

You can call us at our UK line: (+44) 07543838218

 

LNA has a 100% track record of attaining Spanish visas & residency permits

Larraín Nesbitt Lawyers, small on fees, big on service. Your family’s success is only one call away: (+44) 07543838218.

At Larrain Nesbitt Abogados, we have assisted hundreds of EU and non-EU nationals to successfully attain Spanish residency permits & visas.

Interested? Come and speak to Larraín Nesbitt Abogados’ friendly staff who will be pleased to guide you through the different residency options, choosing the one that appeals to you most.

Other residency services available from LNA:

 

Please note the information provided in this article is of general interest only and is not to be construed or intended as a substitute for professional legal advice. This article may be posted freely in websites or other social media so long as the author is duly credited. Plagiarizing, whether in whole or in part, this article without crediting the author may result in criminal prosecution. VOV.

2.023 © Raymundo Larraín Nesbitt. All Rights Reserved.

... Read more

Spanish Golden Visa: 10 reasons to apply

Raymundo Larraín Nesbitt, June, 13. 2023

Lawyer Raymundo Larraín highlights the main advantages of attaining a Spanish Golden Visa.

Marbella-based Larraín Nesbitt Abogados (LNA) has over 20 years’ taxation & conveyancing experience at your service. We offer a wide range of 50 legal and corporate services. Our team of native English-speaking lawyers and economists have a long track record successfully assisting expats all over Spain.

You can review here our client’s testimonials.

Article copyrighted © 2023. Plagiarism will be criminally prosecuted

 

By Raymundo Larraín Nesbitt
Director of Larraín Nesbitt Abogados
8th of June 2023

 

  1. Golden Visas do not automatically make you tax resident in Spain upon renewal, unlike every other visa in Spain. This is a unique tax advantage exclusive only to GVs. No other visa in Spain shares this unique trait. Only for this reason, affluent investors will find it most appealing if they do not fancy paying taxes in Spain.
  2. Allows you to (legally) override the 90/180-day that limits stay in Spain (and by extension in the Schengen Area/EU). This visa allows you unfettered access to Spain. You can enter and leave the country when and as you please, even overriding Covid flight bans, as you will hold a select residency permit that (very) few people hold.
  3. Clear rules. Initially granted for 3 years, then renewable every 5 years.
  4. No minimum stay is required. You can spend as little as only one day in Spain, or the full year-round, at your choice.
  5. Fast-tracked. Golden visa applications are greatly expedited by rapport to standard visa applications. Golden visas are granted in only 3 weeks.
  6. Streamlined. Golden Visa applications are (greatly) streamlined, removing all the unnecessary admin red tape normally associated to standard visa applications, making applicant’s lives easier.
  7. The whole family is included as dependents, even ascendants (such as grandparents).*
  8. You can work in Spain (optional).
  9. Leads to permanent residency (optional).
  10. Leads to Spanish citizenship (optional).

*(subject to criteria)

Conclusion

The European Commission does not like golden visas.

The Spanish government doesn’t like golden visas either (although it greatly benefits from them).

Several countries in Europe don’t like them either and have already scrapped them in a trend that is growing and gathering pace throughout all the Union (Ireland, Portugal, etc).

On the back of this burgeoning trend, several political parties have piled pressure on the government to suppress them altogether registering proposals at congress (Mas Pais, Podemos, etc). The Spanish government jumped on the bandwagon last month, and made public it will either scrap golden visas, or raise the cap to €1,000,000. It seems they are leaning towards the latter (raising the cap, meaning doubling the required minimum investment).

So, what does all this mean for applicants? It means the window of opportunity to attain a golden visa in Spain, by way of investing €500,000 in real estate, is waning by the day. Over the next months, the Spanish government will approve to raise the cap, as reported by El Pais, in effect doubling the minimum investment to 1mn. Anyone who cannot afford to spend a minimum of one million euros in real estate, will be left out in the cold.

We strongly advise all non-EUs – who are considering filing for a golden visa in Spain – to do so immediately, before the window of opportunity closes. Obviously, if you are a multi-millionaire, this change does not concern you. But there is also the distinct possibility of the government caving into the political pressure and shutting down golden visas for good, in line with other fellow EU countries.

In any event, all would-be golden visa applicants, affluent or not, are strongly advised to act sooner rather than regret it later.

At Larrain Nesbitt Abogados, we have made true the dreams of hundreds of non-EU investors, and their families, assisting them to attain a Golden Visa since its inception in 2013. You can browse our clients’ visa testimonials here.

Your family’s success is only one call away: (+34) 952 19 22 88

Golden Visa (investor visa)

Larrain Nesbitt Abogados has a 100% track record of attaining Spanish residency.

“I’m self-made. I always wanted to make myself a better person, because I was not educated. But that was my dream – to have class.” – Tina Turner

Anna Mae Bullock (1939 – 2023). Was an-all American singer (later on in life she acquired Swiss residency & citizenship through investment). Born in a humble family, in the deep South, she picked cotton as a kid with her father in a farm. Family members soon noticed her natural talent for singing and she went on to join the local church’s choir. Without receiving a formal education, she would go on to work in several jobs, such as joining a household’s domestic service, etc until finally pursuing her dream, a singing career on meeting the man who would eventually become her husband, Ike Turner. He taught her all the basics. She became the featured vocalist of his band, and rose to prominence as the lead singer of the Ike & Tina Turner duo. Because of her husband’s constant abuse (fuelled by the unrestrained consumption of cocaine & alcohol), she bravely decided to split up and launch a successful career as a solo performer, at age 37, garnering worldwide recognition. And the rest, as they say, is history. Tina Turner will be fondly remembered as the Queen of Rock ‘n’ Roll.

She is one of the few singers who dedicated a song to us lawyers: “Typical male.” No doubt, the lady had class.

 

Larraín Nesbitt Lawyers, small on fees, BIG on service.

Larraín Nesbitt Lawyers is a law firm specialized in conveyancing, residency, inheritance, taxation, and litigation. You can contact us by e-mail at info@larrainnesbitt.com, by completing our contact form, or by telephone on (+34) 952 19 22 88.

Residency services available from LNA:

Golden Visa related articles

 

Article also published at Larrain Nesbitt Abogados: Spanish Golden Visa: 10 reasons to apply

Marbella-based Larraín Nesbitt Abogados (LNA) has over 20 years’ taxation & conveyancing experience at your service. We offer a wide range of 50 legal and corporate services. Our team of native English-speakinglawyers and economists have a long track record successfully assisting expats all over Spain.

You can review here our client’s testimonials.

Please note the information provided in this article is of general interest only and is not to be construed or intended as substitute for professional legal advice. This article may be posted freely in websites or other social media so long as the author is duly credited. Plagiarizing, whether in whole or in part, this article without crediting the author may result in criminal prosecution. Ní neart go cur le chéile. VOV.

Article copyrighted © 2023. Plagiarism will be criminally prosecuted.

... Read more

Tax advantages of Spain’s Digital Nomad Visa

Raymundo Larraín Nesbitt, February, 6. 2023

Lawyer Raymond Nesbitt explains the unique tax advantages of Spain’s Digital Nomad Visa

Marbella-based Larraín Nesbitt Abogados (LNA) has over 20 years’ taxation & conveyancing experience at your service. We offer a wide range of 50 legal and corporate services. Our team of native English-speaking lawyers and economists have a long track record successfully assisting expats all over Spain.

You can review here our client’s testimonials.

Article copyrighted © 2023. Plagiarism will be criminally prosecuted

 

By Raymundo Larraín Nesbitt
Director of Larraín Nesbitt Lawyers
21st of February 2023

Introduction

The new Digital Nomad Visa (DNV) offers unique tax advantages that no other Spanish visa can match. Its main outlier - and what distinguishes it from other available visas - is precisely the wide array of tax benefits it offers. The DNV has been purposely devised so successful applicants pay few taxes; the purpose is to incentivize these overachievers to move and work (remotely) in Spain.

The DNV is modelled after Beckham’s Law, enacted in 2015, and which applies to EU residents which in turn was inspired by the UK’s wildly popular Non-Domiciled taxpayer scheme.

It’s a legal fiction whereby a non-EU taxpayer is treated as a non-fiscal resident in Spain, but for administrative purposes, they are regarded as fully resident in Spain. The tax significance of this nuance simply cannot be understated enough and opens the door to the slew of tax benefits I collate below.

Precisely because of its huge tax advantages, the law time-gates it to a maximum of only five years.

Needless to say, a DNV makes you tax resident in Spain (that’s precisely the whole point!).

Because of its nature (to attract talented individuals), and similar to Golden Visas, all applications are fast-tracked. Meaning that in under one month you know if you’ve been accepted.

In a nutshell, the DNV is all about paying little to no tax.

DNV tax benefits

 

  • All income & assets held abroad go untaxed. In other words, any source of worldwide income is tax-exempt (just like with the popular UKs non-dom tax scheme).
  • DNV holders only pay tax strictly on the income they derive working remotely in Spain for a foreign employer. They will pay a flat tax rate of 24% on the first €600,000 of gross annual earnings over a five-year period.
  • They are not required to file a 720 tax return (unlike Spanish tax residents)
  • They are not required to file Wealth Tax (unlike Spanish tax residents)
  • You can request to defer the payment of tax on the first and second year without penalties or delay interests being rolled on top (as is standard)
  • For the purposes of other tax agencies, you are considered tax resident in Spain.

 

LNA has a 100% track record attaining Spanish residency

 

Larraín Nesbitt Lawyers, small on fees, BIG on service.

At Larrain Nesbitt Abogados, we have assisted hundreds of non-EU nationals, and their families, to successfully attain a Spanish residency permit since 2013.

Interested? Come and speak to Larraín Nesbitt Abogados’ friendly staff who will be pleased to guide you through the different residency options, choosing the one that appeals to you most.

Your family’s success is only one call away: (+34) 952 19 22 88.

Residency services available from LNA

  

Please note the information provided in this article is of general interest only and is not to be construed or intended as substitute for professional legal advice. This article may be posted freely in websites or other social media so long as the author is duly credited. Plagiarizing, whether in whole or in part, this article without crediting the author may result in criminal prosecution. Voluntas omnia vincit.

2.023 © Raymundo Larraín Nesbitt. All Rights Reserved.

... Read more

How to spend over 90 consecutive days in Spain - General visa overview (updated)

Raymundo Larraín Nesbitt, January, 9. 2023

Solicitor Raymond Nesbitt supplies us with a general overview on the different types of visa permits available and how to spend more than 90 consecutive days in Spain.

Marbella-based Larraín Nesbitt Abogados (LNA) has over 20 years’ taxation & conveyancing experience at your service. We offer a wide range of 50 legal and corporate services. Our team of native English-speaking lawyers and economists have a long track record successfully assisting expats all over Spain.

You can review here our client’s testimonials.

Article copyrighted © 2023. Plagiarism will be criminally prosecuted

 

By Raymundo Larraín Nesbitt
Director of Larraín Nesbitt Lawyers
1st of January 2023

Introduction

With the advent of the new and upcoming popular Digital Nomad Visa (which has now been approved), it was time to update our visa article. The goal of this article is to explain how you can (legally) spend over 90 consecutive days in Spain.

If you are a non-EU national, you can legally spend up to a maximum of 90 consecutive days in Spain, or within the Schengen Area, within every rolling six-month period. This is popularly known as the 90/180-day rule.

Non-EUs who wish to spend longer periods of time in Spain, or even work, must apply for a visa. Please note that not all visas allow you the right to work in Spain, it should not be taken for granted.

In this article, we supply a general overview of all five visas available through our company.  We won’t cover other options, such as student visas, which are applied for directly by academic institutions.

The five listed visas below allow its successful applicants, and dependants, to remain in Spain for more than 90 consecutive days within a calendar year; moreover, you may stay all year round if it pleases you. As an additional advantage, visa holders will have unfettered access to the Schengen Area (all 26 countries). Basically, you will be treated on equal footing to a Spanish national on entering & exiting the country without all the border & customs hassle that cause so much aggravation.

Regarding taxation, none of them automatically make you tax resident in Spain on attainment. However, if you spend over 183 days/year in Spain you will be deemed tax resident. On applying for a visa renewal, you will have to provide proof you are living in Spain long term, which triggers tax residency.

All visas collated below extend their benefits to the main applicant’s family i.e. spouse and underaged children.

All five listed-below visas have in common the following staple requirements:

  1. Non-EU national.
  2. Hire private health insurance in Spain.
  3. Clean criminal record (previous 5 years).
  4. Be self-supporting (you will not claim benefits).
  5. Not be already in Spain illegally at the time of making a visa application.

 

1. Digital Nomad Visa (DNV)

The DNV belongs to a new generation of visas that specifically target certain collectives that are of interest to the government. To that end, it rolls out the red rug to attract talented teleworkers offering them in exchange unique and enticing advantages. Hands down the outlying advantage is the privileged taxation it confers upon its holders (basically Beckham's law applies). No other visa in Spain offers the benefits of paying such low-income tax: a flat tax rate of only 24% on the first €600,000 of gross annual earnings over a five-year period. Your worldwide income & assets are tax-exempt. If you fancy living and teleworking from Spain, and paying few taxes, look no further.

Suitable for:

  • Freelance workers
  • Affluent candidates 
  • High-end corporate profiles
  • Teleworkers in general

Further reading: Spain’s Digital Nomad Visa approved! – 29th December 2022

We offer this competitively priced visa service: Digital Nomad Visa

2. Golden Visa – Investor visa

The investor visa is devised for affluent applicants. It is popularly known as a ‘Golden Visa’. It’s a blue-ribbon visa that basically rolls out the red rug for its privileged holders that neatly cuts through all the red tape. Its purpose is to foster foreign investments in Spain. Whilst there are many different ways to attain a GV, the most popular (and least expensive) is by investing in Spanish real estate. This requires investing €500,000 in property. We should point out that it applies retrospectively; meaning that any UK national (or from any other non-EU country) that bought a property in Spain for over 500k on or after the 28th of September 2013 may qualify. Unlike the other visas listed below, renewals are not subject to proving you live in Spain all year round. They are based on keeping the investment. This ability to override the 90/180-day rule and not being ‘forced’ to live in Spain make it one-of-a-kind and explains why it is so coveted. GVs allow you to work in Spain should you choose to.

Suitable for:

  • Affluent property buyers
  • Investors, developers
  • High-flyers

Further reading: The Spanish Golden Visa: 8 Reasons to apply – 21st March 2022

We offer this competitively priced visa service: Golden Visa

3. Marriage visa – EU Family regroupment

It’s intended for families or couples that have been separated, in and out of the EU. It seeks to reunite them in an expedited manner within the EU. So, although this type of visa is popularly dubbed as ‘marriage visa,’ it would be rather more appropriate to refer to it as ‘family visa’, as its scope goes well beyond a married couple. It ought to be understood in broader terms, as in family reunion. As its own name implies, couples must be married (including same-sex partners). This visa allows you to work in Spain.

Suitable for:

  • Separated family members that wish to reunite within the EU
  • Married couples

Further reading:  EU-family regrouping (marriage visa)

We offer this competitively priced visa service: EU-family regrouping (Marriage Visa)

4. Business visa – Lucrative Visa

As its own name implies, this permit allows the applicant to work in Spain as you will be self-employed. This residency applies to someone who is looking to set up his own business in Spain. Typically, you will be acting as director or company administrator. Needless to say, one of the key requirements is that you will have enough means to be self-supporting both for yourself and your family for one year. The catch, besides a cast-iron motivation, is that you need to invest in the ballpark of €100,000 in savings to open & run a business.

Suitable for:

  • Applicants wishing to set up and run a family business in Spain
  • Self-employed
  • Dauntless entrepreneurs

Further reading:  Lucrative residency permit (business visa)

We offer this competitively priced visa service: Lucrative Visa

5. Pensioner visa – Non-Lucrative Visa

As its own name implies, this visa allows the applicant to live, but not to work, in Spain. The applicant will be expected to be self-supporting and will be required to prove he or she has enough savings for at least two years. This visa is ideal for retirees who wish to spend extended periods of time in Spain – without working – enjoying the finer things in life. However, it should be noted that other applicants, who are not of pensioner age, are also welcome to apply. This visa is also a good option for those who want to test the waters and are considering living in Spain long term.

Suitable for:

  • Pensioners
  • Would-be buyers, long-term tenants
  • Bon vivants with a healthy bank balance

Further reading: The Spanish Non-Lucrative Visa Explained

We offer this competitively priced visa service: Non-Lucrative Visa

LNA has a 100% track record attaining Spanish residency

 

Larraín Nesbitt Lawyers, small on fees, BIG on service.

At Larrain Nesbitt Abogados, we have assisted hundreds of non-EU nationals to successfully attain a Spanish residency permit since 2013.

Interested? Come and speak to Larraín Nesbitt Abogados’ friendly staff who will be pleased to guide you through the different residency options, choosing the one that appeals to you most. Your family’s success is only one call away: (+34) 952 19 22 88.

Residency services available from LNA

  

Article originally published at Spanish Property Insight: How to spend over 90 days in Spain – Residency visa overview

Please note the information provided in this article is of general interest only and is not to be construed or intended as substitute for professional legal advice. This article may be posted freely in websites or other social media so long as the author is duly credited. Plagiarizing, whether in whole or in part, this article without crediting the author may result in criminal prosecution. VOV.

2.023 © Raymundo Larraín Nesbitt. All Rights Reserved.

... Read more

Spain’s Digital Nomad Visa approved!

Raymundo Larraín Nesbitt, January, 1. 2023

Marbella-based Larraín Nesbitt Abogados (LNA) has over 20 years’ taxation & conveyancing experience at your service. We offer a wide range of 50 legal and corporate services. Our team of native English-speaking lawyers and economists have a long track record successfully assisting expats all over Spain.

You can review here our client’s testimonials.

Article copyrighted © 2022. Plagiarism will be criminally prosecuted

 

 

By Raymundo Larraín Nesbitt
Director of Larraín Nesbitt Abogados
29th of December 2022

The Digital Nomad Visa was approved in Spain on the 23rd of December 2022.

The DNV is extensive to family members i.e. spouse and children under the age of 18 years old.

It allows you to work remotely from Spain.

The main advantage of a DNV is that it grants its applicants a special tax regime whereby they pay very few taxes as opposed to the standard IRPF (personal income tax) sliding scale.

Applications are now open for this visa. Please contact us to get the ball rolling.

Our law firm has a track record of 100% attaining Spanish residency permits since 2013.

 

Main advantages

  • Five-year residency permit. Initially on a one-year application, followed by two-year renewals up to a total of 5 years. The visa extends to the family of the main applicant.
  • Allows you to work in Spain remotely. Moreover, it encourages you to work in Spain, specifically remotely with your laptop (or desktop).
  • Allows you to legally override the 90/180-day rule that limits stay in Spain (and by extension in the Schengen Area/EU).
  • Tax breaks for the foreign employer (if it has an establishment in Spain)
  • Tax breaks for the employee (DNV applicant). This is the core advantage. It basically applies a privileged non-domiciled tax scheme to teleworkers that allows them to pay a flat tax rate of only 24% on the first €600,000 of gross annual earnings over a five-year period.

 

Specific requirements

  • Non-EU/EEA national i.e. British
  • You need to prove you are hired by a foreign company. This is the core requirement.
  • You need to prove you have formal academic qualifications i.e. a university degree, business school or professional qualification.
  • You need to prove you have at least 3 years of work experience.
  • Not to have resided in Spain during the previous 5 years.
  • Not to obtain income from a permanent establishment in Spain.

 

If you wish to apply for a DNV, our law firm offers this visa service:

Digital Nomad Visa

LNA has a 100% track record of attaining Spanish residency

 

Larraín Nesbitt Abogados, small on fees, BIG on service.

At Larrain Nesbitt Abogados we have over 20 years’ experience buying, selling, and renting properties. We are also specialized in taxation, immigration & residency visas. We offer a wide range of 50 legal and corporate services. Our team of native English-speaking lawyers and economists have a long track record successfully assisting expats all over Spain. You can review here our client’s testimonials.You can contact us by e-mail at info@larrainnesbitt.com, by telephone on (+34) 952 19 22 88, or by completing our contact form to book an appointment.

Please note the information provided in this blog post is of general interest only and is not to be construed or intended as substitute for professional legal advice. This article may be posted freely in websites or other social media so long as the author is duly credited. Plagiarizing, whether in whole or in part, this article without crediting the author may result in criminal prosecution. VOV.

2.022 © Raymundo Larraín Nesbitt. All Rights Reserved.

Copyrighted © 2022. Plagiarism will be criminally prosecuted.

... Read more

Digital Nomad Visa in Spain

Raymundo Larraín Nesbitt, October, 7. 2022

Lawyer Raymundo Larraín runs through the main highlights of the long-awaited Digital Nomad Visa in Spain.

Marbella-based Larraín Nesbitt Abogados (LNA) has over 19 years’ taxation & conveyancing experience at your service. We offer a wide range of 50 legal and corporate services. Our team of native English-speaking lawyers and economists have a long track record successfully assisting expats all over Spain.

You can review here our client’s testimonials.

Article copyrighted © 2022. Plagiarism will be criminally prosecuted

By Raymundo Larraín Nesbitt
Director of Larraín Nesbitt Abogados
8th of October 2022

The Digital Nomad Visa (DNV, going forward) was first introduced by the new Start-up Law, which was passed last December 2021. The DNV sets a milestone as it effectively breaks the mould on what we’ve come to expect from a Spanish visa. In a nutshell, it introduces great tax breaks (for both employers and employees), streamlines the visa procedure (reducing waiting times), it allows for greater freedom, and most fundamentally reduces the admin control on applicants. Less red tape is always bueno.

It’s no secret the expectation for the approval of this visa is off the charts. It is hands down the most anticipated visa. For the avoidance of doubt, the DNV is in its last stages of approval, so it is still a draft bill. We expect it to be passed over the next months.

The self-declared purpose of this visa is to attract talented foreign individuals to Spain, paving the way with exciting tax breaks that will likely turn the DNV into the second most sought-after visa after the coveted Golden Visa.

The winds of change blow, and times move on. Most traditional visas in Spain – which are decades old – have become outdated and no longer address appropriately the needs of modern workers in a digital economy. There is a huge pent-up demand for a specific visa that caters to digital workers that work from home remotely. This demand has fostered the creation of a specific visa that caters to the needs of digital workers, pandering to them.

The advent of the Covid 19 pandemic opened up new opportunities to work from home, normalizing and consolidating the demand for telecommuting, which has now become generally accepted. The Spanish Government was quick to pick up on this new trend and wishes to capitalize on it. To that end, it has devised a specific DNV that plugs this gap, attracting talented foreign individuals and investments on its wake. The DNV is the first of its kind in a new generation of modern visas that target specific collectives, with enticing and unique advantages.

As a disclaimer, I stress again the DNV bill is still on its last draft stage, meaning its wording may yet be subject to amendments before approval. I collate below in bullet points its main advantages and requirements, but with the caveat that some of the highlighted points below may yet be altered by lawmakers on being enacted.

Main advantages

  • Five-year residency permit. Initially on a one-year application, followed by two-year renewals up to a total of 5 years. The visa extends to the family of the main applicant.
  • Allows you to work in Spain remotely. Moreover, it encourages you to work in Spain, specifically remotely with your laptop (or desktop if you happen to be a dinosaur like me). Unlike other Spanish residency permits (i.e. Non-Lucrative Visa which bans you from working in Spain, even remotely) this visa actively promotes you working in Spain (remotely).
  • Allows you to legally override the 90/180-day rule that limits stay in Spain (and by extension in the Schengen Area/EU).
  • Tax breaks for the foreign employer (if it has an establishment in Spain)
  • Tax breaks for the employee (DNV applicant). This is the core advantage. It basically applies a privileged non-domiciled tax scheme to visa holders that allows them to pay a flat tax rate of only 15% on the first €600,000 of gross annual earnings over a five-year period. Over and above said threshold, they are taxed at the standard top marginal rate of 47%. In plain English, the so-called Beckham Law applies to them which creates a legal fiction whereby they are treated as if they were non-resident in Spain for tax purposes, attracting a privileged tax rate. This greatly empowers digital nomad visa holders to legally circumvent the standard IRPF tax sliding scale that applies to the rest of us punters who are tax resident in Spain. Ah yes, so much for equality.
  • The legal limitation to benefit from the non-dom tax scheme of 5 years is waived and extended up to 10 years.
  • The standard limitation of not having being resident in Spain over the previous 10 years is reduced to only 5 years.

 

Requirements

  • You need to prove you are hired by a foreign company. This is the core requirement. I.e. a freelance IT artist with a contract.
  • You need to prove you have formal academic qualifications (i.e. 3-year university degree).
  • You need to prove you have at least 3 years of work experience.

 

In conclusion

The Digital Nomad Visa addresses a gap for high-end professionals that wish to relocate to Spain, alone or with their families, and enjoy all the country has to offer, including ultra-low taxes, regardless of where they settle down in Spain.

In effect, you get the best of both worlds; you get to enjoy all the perks of being resident in Spain albeit you are fiscally treated as a non-resident, paying (much) fewer taxes. In my book, that’s a win-win.

Once approved, our law firm will offer this visa service: Digital Nomad Visa

LNA has a 100% track record of attaining Spanish residency

 

Larraín Nesbitt Abogados, small on fees, BIG on service.

At Larrain Nesbitt Abogados we have over 19 years’ experience buying, selling, and renting properties. We are also specialized in taxation, immigration & residency visas. We offer a wide range of 50 legal and corporate services. Our team of native English-speaking lawyers and economists have a long track record successfully assisting expats all over Spain. You can review here our client’s testimonials.You can contact us by e-mail at info@larrainnesbitt.com, by telephone on (+34) 952 19 22 88, or by completing our contact form to book an appointment.

Please note the information provided in this blog post is of general interest only and is not to be construed or intended as substitute for professional legal advice. This article may be posted freely in websites or other social media so long as the author is duly credited. Plagiarizing, whether in whole or in part, this article without crediting the author may result in criminal prosecution. VOV.

2.022 © Raymundo Larraín Nesbitt. All Rights Reserved.

Copyrighted © 2022. Plagiarism will be criminally prosecuted.

... Read more

Working remotely from Spain

Raymundo Larraín Nesbitt, April, 1. 2022

Lawyer Raymundo Larrain runs us through the basic pointers on relocating to work in Spain.

Marbella-based Larraín Nesbitt Abogados (LNA) has over 19 years’ taxation & conveyancing experience at your service. We offer a wide range of 50 legal and corporate services. Our team of native English-speaking lawyers and economists have a long track record successfully assisting expats all over Spain.

You can review here our client’s testimonials.

Article copyrighted © 2022. Plagiarism will be criminally prosecuted. 

By Raymundo Larraín Nesbitt
Director of Larraín Nesbitt Abogados
8th of April 2022

War, Covid-19, high taxes, lousy weather, living new experiences, enjoying quality of life, etc There are simply too many reasons to collate on why people decide to pack up and move over to Spain.

It is undeniable that the virus outbreak has changed and shaped our mentality redefining our outlook on life. Millions of workers the world over have taken time to sit down and reflect upon their lives. Thousands have handed in their resignation and have made the decision to set up shop in Spain.

Spain has so much to offer that it comes as no surprise how over the last two years dozens of thousands of talented individuals, and their families, have made the move and are now living the (great) life in Spain. As a result of this large influx of foreign remote workers, the Spanish Government has seen fit to approve a bill that further improves and expands work conditions to attract talented immigrants: Spain’s new Entrepreneur Law.

In this short article, I give some basic pointers so you can plan ahead:

  1. Residency permit. Whether you belong or not to the European Union, if you spend more than 90 consecutive days in Spain within a calendar year, you need to apply for a residency permit. The main difference is that EU nationals are fast-tracked and can easily attain one at a very competitive cost. Non-EUs (i.e. British) are required to attain a visa to bypass the dreaded 90/180-day rule. We cover the topic of all the visas available in our in-depth immigration article: How to spend over 90 days in Spain – Residency visa overview.
  2. Work permit. EU nationals can automatically work in Spain without any further red tape, but what about non-EUs? Non-EUs require a work permit to work in Spain. Not all visas have associated a right to work in Spain. Visas which do are: Golden Visa, Marriage Visa, Business Visa, Work Visa. A Student Visa does not allow you to work but you can do internships in companies. A new visa will be approved further on this year which is the optimal choice for remote workers: digital nomad visa. It has associated significant tax benefits.
  3. Taxation. Spain is not a uniform country. It is comprised by a series of nations that speak their own regional languages, have their own cultural heritage and bear their own idiosyncrasy. Spanish is the official language that applies nationwide, but there are four other languages that are also used regionally. As a result of this diversity, regions have devolved competencies on several matters, including taxation. This is extremely relevant, as there are huge variations (understatement) when it comes to taxing legal or physical persons on income tax, inheritance, gift tax etc. Some regions are tax-friendly (Andalusia, Madrid), with ultra-low taxation, whereas other regions in Spain have very high taxes in place. Before you make the move to Spain, for your own sake, make sure you have researched the taxation of the region you pick.  
  4. Climate. Spain has a diverse climatology, it’s not all sun and palm trees. As a general rule, Mediterranean coastal areas have a pleasant and mild all-year-round weather. Inland and Atlantic coastal areas are cold and rainy with sharp contrasts in temperature between winter and summer.
  5. Language. You know that Spanish you learnt in secondary? Well, it may be for naught if you choose the wrong region in Spain. As written above, in Spain we have four co-official languages besides Spanish. In some regions, with strong nationalist views (read separatist) Spanish is shunned and they do not even use it on official administrative procedures or schools. Please ensure the region of Spain you pick actually does use Spanish. This is obviously a non-issue for those that don’t speak Spanish.
  6. Accommodation. The best advice I always give is that when you have chosen an area to settle down in, before you commit buying any property, you should rent out a place for 4 to 6 months. Bear in mind, tourist hotspots change dramatically from low to high season. That quiet shack on the beach next to you, that remains shut all winter, springs into life during the summer season with booming latino music for 3 months non-stop!

To close, I add my shameless plug on the beautiful region of Andalusia, which ticks all the boxes above! This could be your new life in Spain: The Passion of Andalusia.

At Larrain Nesbitt Abogados, we have made true the dreams of hundreds of non-EU investors, and their families, assisting them to attain residency permits. You can browse our clients’ visa testimonials here. 

 

Ukraine is entitled to its sovereignty, no matter who its neighbors happen to be. In the modern era, great countries accept that, and so must Mr. Putin. That is the message undergirding recent Western diplomacy. It defines the difference between a world governed by the rule of law and one answerable to no rules at all.” – Madeleine Albright

Marie Jana (Madeleine) Korbelova Albright (1937 – 2022). Was born in a family of Czechoslovakian immigrants who fled from the terrors of a war-torn Europe following the end of WWII to settle down in the U.S., which would become her new adopted home. She was a brilliant student that spoke eight languages. She became an American diplomat who served as the 64th United States Secretary of State from 1997 to 2001 under President Bill Clinton. She was the first female Secretary of State in U.S. history. She was an outspoken advocate of freedom and a staunch defender of democratic values that showed a will and tenacity seldom seen our days.

Madeleine is a role model to young women and to all those that defend and uphold Western democratic values.

 

Residency services available from LNA

 

Larraín Nesbitt Abogados, small on fees, BIG on service.

Larraín Nesbitt Lawyers is a law firm specialized in conveyance, taxation, inheritance, residency and litigation. We will be very pleased to discuss your matter with you. You can contact us by e-mail at info@larrainnesbitt.com, by telephone on (+34) 952 19 22 88 or by completing our contact form to book an appointment.

Please note the information provided in this article is of general interest only and is not to be construed or intended as substitute for professional legal advice. This article may be posted freely in websites or other social media so long as the author is duly credited. Plagiarizing, whether in whole or in part, this article without crediting the author may result in criminal prosecution. VOV.

2.022 © Raymundo Larraín Nesbitt. All Rights Reserved.

... Read more
1