Spain is launching a new digital nomad visa this month that allows remote workers to live and work in the country for up to a year. To qualify, workers must meet a minimum monthly income requirement (likely to be around €2,000, or $2,120) and earn at least 80% of their income from companies outside of Spain.
If all goes well, the visa can be renewed up to five times, after which the worker becomes eligible for permanent residency. The visa applies to the entire country, so workers can choose to live in major cities like Madrid or Barcelona, or in beach destinations like Ibiza or the Canary Islands.
Spain's cheap cost of living compared to other Western European countries is an added bonus. The new law is part of the country's Startup Act and is expected to become law in January 2023.
It is open to freelancers, fully employed remote workers, and those who earn at least 80% of their income from companies outside of Spain. EU citizens are already able to live and work in Spain as much as they please. Non-EU citizens, including British people, will be able to take advantage of the scheme once it launches in early 2023.
What is a digital nomad visa?
A digital nomad visa is a type of visa that allows remote workers to live and work in a foreign country for an extended period of time. Digital nomads are individuals who are able to work remotely, typically using the internet and communication technologies, and do not have a traditional 9-to-5 office job.
The purpose of a digital nomad visa is to allow these individuals to live and work in a foreign country while they continue to perform their job duties remotely. Digital nomad visas typically have requirements such as a minimum income level and a requirement to earn a certain percentage of income from outside of the host country.
These visas are often aimed at attracting talented and skilled workers to the host country, and may be granted for a limited time period, after which the individual must apply for renewal or return to their home country. Some countries have started to offer digital nomad visas as a way to attract remote workers and boost their economy.
source: timeout
