Excellent Property Options in Marbella for Digital Nomads
Travellers have been combining work with pleasure for time immemorial, even before air transport became universally accessible.
In recent years, however, the phenomenon has become even more convenient and mainstream, leading to the coining of a special term to describe its protagonists: digital nomads.
These days, with transport options so extensive and diverse – especially at Málaga-Costa del Sol Airport, one of Europe’s major international hubs – digital nomads have effectively been able to move overseas on a permanent or semi-permanent basis. And, in many cases, rather than stay in hotels or rented accommodation, they have opted to buy a property in their ultimate destination of choice.
One of the most popular global destinations is the Costa del Sol, and a new Spanish law that is due to come into effect in January 2023 is making it even easier for people who can work from anywhere in the world to buy a home – in Marbella, for example – and set up a convenient, comfortable and even glamorous professional base.
If you are already a digital nomad, or planning to join the trend, Promas Estates can steer you in the right direction to buy the ideal home headquarters – and also provide advice about the new Spanish “Start-Ups Law”.
New Digital Nomad Visa in Spain
In general terms, a “digital nomad visa” enables foreigners to live in a country while working remotely for a company that is based elsewhere.
In Spain, the visa is part of the government’s “Start-Ups Law” (officially known as the “Law for the Promotion of the Ecosystem of Emerging Companies”), which was formally approved by the parliament last month (November) and is now pending final ratification by the Senate.
When details of the law were first announced back in late 2021, the government said the aim was to attract talent and investment, support fast-growing and technology-based companies, and make it easier for digital nomads and international teleworkers to establish themselves in Spain. This would be achieved by establishing a series of favourable fiscal measures and incentives, eliminating bureaucratic obstacles, and making procedures more flexible, including the introduction of a visa for digital nomads that can be renewed for up to five years.
Final details of the visa criteria and legal framework are still to be officially confirmed but, according to media reports:
- Remote workers who receive at least 80 per cent of their income from companies located outside Spain will be eligible for the visa and to take advantage of favourable tax conditions.
- The minimum income requirement will be at least €2,000.
- Visa recipients earning under €600,000 a year will qualify for a reduced income tax of 15 per cent – compared with the normal rate of 24 per cent for non-residents.
- Recipients will be able to renew their initial one-year visa for up to five years (in annual or two-year extensions), and then apply for permanent residency (although this has not been officially confirmed).
- Family members are likely to be able to accompany the visa holder, albeit with additional financial criteria applying – for example, private health insurance coverage.
Holding a digital nomad visa in Spain will also allow recipients to travel visa-free throughout the Schengen Area, which includes 25 other countries.
Then, of course, there is the exceptional climate, especially along Marbella’s renowned Mediterranean coastline, as well as a modern infrastructure that has been bolstered by a massive injection of EU recovery funds to support Spain’s ambitious green and digital transition.
In addition to visas for digital nomads, the new law has numerous advantages for businesses wanting to set up or expand their operations in Spain, including facilitating procedures for newly created companies, reducing their tax burden, generally streamlining the business creation process, and promoting rural entrepreneurship.
Remote Working in the Countryside
Another increasingly popular trend – well-consolidated on the Costa del Sol over the past three years especially – is an exodus of people who are able to work from home opting to move from urban areas in Marbella and along the coastal strip to inland villages and semi-rural residential estates.
Towns such as Benahavís, Ójen and Istan are not only well-connected to the coast by road, and less than half an hour away from Marbella’s urban centre, but also part of Spain’s highly efficient high-speed internet network.
The Bottom Line
Clearly, sitting with your laptop on a sun-kissed Marbella penthouse terrace is a considerably more attractive proposition than commuting to work on bleak mornings to a London, Dublin, Brussels, Stockholm, Frankfurt or New York office. And even more so now that the Spanish authorities are enhancing the working conditions for flexible professionals.
So, whether you are planning a move to Marbella as a digital nomad, or are simply looking to change your current remote working home base to another area on the Coast, Promas Estates will be able to help you find the perfect property to suit your individual needs and personal tastes.