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Spain's Efforts to Attract Foreign Investment and Talent: Immigration and Tax Changes

The recent tax report by Julie Baron and Marta Quintero of Vialto Partners on The View From The Top brought some exciting news for those looking to move to Spain.

Immigration

The Spanish government has approved a new law aimed at making the process of immigration and starting businesses in Spain easier and more attractive. The law includes provisions such as the business nomad visa, an extension of the residency permit for digital nomads, a revised definition of entrepreneurial activity, and simplified requirements for highly qualified personnel visas.

Tax

In addition to immigration improvements, there have also been changes to the Beckham law that make it more favorable for employees and entrepreneurs. The Beckham law has been modified to allow individuals to be considered Spanish taxpayers after only five years, and the law has been expanded to include not just employees but also their spouses who plan to work in Spain.

The law also includes an increase in the limit for delivery of shares from start-up companies, which has been increased from 12,000 euros to 50,000 euros, and an increase in the reduction for investing in start-up companies.

Overall, it seems that the Spanish government is making a strong effort to attract foreign talent and investment to the country, and the changes to the tax laws are a reflection of that. If you're considering a move to Spain, now might be the time to take a closer look at what the country has to offer!

Watch the complete tax update here:

 

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Michelle Curran
Created on 9-2-2023