FOR IMMEDIATE RELEASE
We Are Innovation Analyzes Spain’s New Visa for Digital Nomads
* The global network welcomed the new residence permit in line with global labor market trends.
* But they warned that the outlook is still worrying for Spain, and its possibilities are given the fiscal pressure of its national administration.
Madrid, Spain (February 23, 2023) — The Plenary of the Spanish Congress of Deputies has approved the Law for the Promotion of the Emerging Companies Ecosystem, better known as the Startups Law. This Law contains a new visa the Spanish government will provide foreigners to work telematically in the country.
According to the authorities, the permit will be valid for one year and may be renewed annually as long as the requirements are met. The visa is aimed at people who are not citizens of the countries that make up the European Economic Area and costs approximately 75 euros, not including the consular fee.
The global network We Are Innovation (WAI) celebrated the measure that, according to them, “can position Spain in the creation of a friendly atmosphere with the innovative vocation.” They also stressed that “there are already 52 countries that offer visas for digital nomads” and that “the competition Spain faces is very strong.”
However, Federico N. Fernandez, WAI’s CEO, lamented that “not all nomads would be welcome” since in order to obtain the visa, it is necessary to meet a variety of conditions, including being “graduated from universities, vocational training or business schools of recognized prestige” or even an “income requirement,” which is estimated to be set at twice the Spanish national minimum wage.
Despite the progress in creating a nomad visa, Spain still has much to correct around its harsh tax policy, which, by the roads it has traveled, has proven to be unfriendly to national taxpayers.
“For those nomads who consider following a path that leads to residency, a potential personal income tax of 47 percent and a national administration that has raised taxes 54 times await them,” said Federico Fernandez. “Both nomads and residents will have to face a tax agency infamous for ruining taxpayers’ lives,” said the leader of the global alliance.
The We Are Innovation Network, which has more than 30 NGOs and foundations and is present throughout LatAm, the United States, and Europe, announced that they would continue to monitor the situation and invite those interested to read a more detailed analysis of the new “Digital Nomad” visa on their website: www.weareinnovation.global
ENDS
ABOUT WE ARE INNOVATION
We Are Innovation is a network formed by a group of individuals and institutions that believe innovative solutions are how people get involved in solving problems. With more than 30 think tanks and NGOs based in Europe, the United States, and Latin America, We Are Innovation is the voice of a vibrant civil society that wants to progress through innovation, the adoption of new technologies and human creativity. Visit https://weareinnovation.gobal/ to learn more.
