Spain, the foreigner’s paradise for tourism and living
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Beach or mountains. Cold or warm weather. Cities or towns. Spain has become a benchmark for quality of life and one of the most versatile countries for living and tourism. There is always a place of interest to visit. Over the years, the number of foreign residents who have decided to choose this Mediterranean treasure has grown. The latest data provided by the Spanish Government has revealed that by the end of 2022 the number of foreign residents amounted to 6,493,147, 7.3% more than in 2021.
The Golden Visa, the Non-Lucrative Visa, the Digital Nomad Visa or the renewed Beckham Law have made moving to a country rich in gastronomy and culture much easier. In this article you will find 4 reasons why Spain is a paradise for foreigners and why they choose this country to start working. In addition, we will answer the question: is it true that they can save taxes thanks to the Beckham Law?
What are the reasons why they choose Spain?
Business reasons, retirement destination or simply as the destination of choice for a fantastic holiday are the main reasons why we can find a large foreign population in Spain. In addition, with the new digital visa, many have opted to settle in this area to work remotely.
A country developed in technology:
There is no doubt that society is advancing and, with it, all telecommunications infrastructures. This is why Spain has become one of the most highly valued countries in terms of connectivity and innovation. Now, the whole country has high-speed Internet, favouring all those who telework.
An idyllic climate 365 days a year:
Another reason why foreigners decide to apply for a residence visa in Spain is the climate and quality of life. If you are more of a beach person, you have the Costa Blanca to enjoy. But if you’re more of a mountain person, you’ll love the north of Spain. Or consider climbing Mount Teide, Spain’s highest peak. It is a country that has endless recreational activities to enjoy nature.
Award-winning culture and gastronomy:
Wherever you go in Spain you’ll find traditional dishes… And they’re all delicious! It is also a country where culture and festivals can be found in every corner of every city. Whoever decides to come to live in Spain or to go sightseeing, is betting on an area with an admirable cultural diversity.
Community of foreigners:
You will feel at home. Spain is a country that welcomes everyone and in every city you will find a community that will support you and accompany you in this new stage of your life. In addition, for those who have decided to telecommute in the country, you will find a large community of digital nomads and co-working spaces where you can work.
But what is the best way to live in Spain?
The Beckham Law is a special tax regime applicable to all those foreigners who start living in Spain for work purposes, and which brings them great economic advantages.
More specifically, it is one of the keys that allows them to pay much less tax in the country, especially on their salary, as they can be considered non-resident for tax purposes. The new regulation allows taxpayers to pay tax at 24% on the first 600,000 euros of earned income.
So, to answer the question we asked at the beginning: Nowadays it has become a great lure to attract foreign talent to Spain and undoubtedly one of the best ways to save large sums of money.
However, it is not only the Beckham Law that is the perfect “passport” to start living in Spain. Spain offers many visas so that everyone can start a second stage of their life here. Among the most important and sought after are the Golden Visa and the Non-Lucrative Visa.
Therefore, before starting this new adventure, it is advisable to ask for help from international lawyers to accompany you throughout the process. Are you thinking of Spain to live? You won’t regret it!
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